Not All Housing Billiard Tables Go Unused
May everyone’s 2021 be as great as this… pic.twitter.com/ziofCKvuiu— Rex Chapman🏇🏼 (@RexChapman) December 31, 2020
Oh, and get ready for this coming week – some blockbuster Douglas Elliman housing market reports are being released.
But I digress…
From My Matrix Blog: Peak Suburb Has Passed
And including epic charts makes it even better.
I noticed that the Streeteasy median rent chart used in the piece shows the same pattern as my recent chart in Bloomberg. That drop in rent is gigantic.
From My Matrix Blog: TRD Quick Question: Jonathan Miller “What’s Happening in the NYC Real Estate Market?”
Here’s another something I posted over on our Matrix Blog last week…
I recently completed a quick interview with Stuart Elliott, Editor In Chief & CEO at The Real Deal who asked me questions with a uniquely mellow intensity. The Real Deal is required reading for anyone in the real estate profession or interested in real estate. Fun.
Mortgage Rates End The Year With A New Record Low
Mortgage rates fell prior to 2020 due to the Fed trying to mitigate the damage caused by the trade war with China and 2020 continued the trend as the economy was walloped by COVID. U.S. housing activity boomed on the purchase side as a result while rental prices plunged, reflecting the disproportionately heavy damage unemployment was causing to lower-wage workers.
I’ve been saying that this might make the economy much more vulnerable to a modest interest rate increase although it sure seems like rates aren’t going much of anywhere for a long time.
How The Home Of The Future Was Imagined In 1967
The home of the future, described by Walter Cronkite in 1967 pic.twitter.com/n9AGhZC4Xh— Vala Afshar (@ValaAfshar) December 28, 2020
And if you can get past the blatant sexism, here’s another view – although the toaster still hasn’t changed.
Kitchen of the future! pic.twitter.com/4gg2fdGi6L— Yashar Ali 🐘 (@yashar) December 29, 2020
(For earlier appraisal industry commentary, visit my old clunky REIC site.)
My 2020 was a year of inward reflection on my profession which, for all its flaws, I love. I took the Appraisal Institute’s blatant election corruption personally and then reassessed what The Appraisal Foundation stood for with its blatant bureaucratic monarchy.
The inherent corruption of both organizations, two that have had arguably more impact on the U.S. appraiser than most, is the source of many flaws in the profession. Because of the potential for punishment or lack of access, and the “lone wolf” nature of our profession, appraisers have only recently begun to push back.
I can promise you this dear Appraiserville readers: 2021 will be a year to remember for the industry and I will be bringing you relentless coverage of the self-dealing in the leadership of both of these organizations. I hope you’ll help throw shade and help change their focus to actual appraisers instead of themselves.
Happy New Year to all.
OFT (One Final Thought)
“Following your passion” is not the answer to happiness.
Brilliant Idea #1
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Brilliant Idea #2
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See you next week.
Reads, Listens and Visuals I Enjoyed
- ThePLS.com is Back with a New Website [The Real Deal]
- Post-Vaccine Vacation Dreamers Plot to ‘Get the Hell Out of Their House’ [Wall Street Journal]
- The Year of the Neighborhood—if You Were Lucky [Slate]
- Southern California’s mansion market had a historic 2020, led by Jeff Bezos [LA Times]
- Lakefront mansion of the late Kate Ford brings $55.15M in Palm Beach, deed shows [Palm Beach Daily News]
- UCC Foreclosures Rise as Mezz Lenders Go After Distressed Projects [The Real Deal]
- Housing Boom Brings a Shortage of Land to Build New Homes [Wall Street Journal]
My New Content, Research and Mentions
- The 10 Worst Real Estate Disasters of 2020 [The Real Deal]
- Rich Americans who fear higher taxes hurry to move money now [GM Today]
- The 10 priciest US homes sold in 2020 including Calvin Klein & Bezos' mansions [The Sun UK]
- 21 financial tips for 2021 [Newsday]
- Half of 2020's Ten Most Outrageously Expensive Home Sales Were in Southern California [LA Magazine]
- Rich Americans who fear higher taxes hurry to move money now [Inquirer]
- The Real Estate Collapse of 2020 [NY Times]
Recently Published Elliman Market Reports
- Elliman Report: Manhattan, Brooklyn & Queens Rentals 11-2020 [Miller Samuel]
- Elliman Report: Florida New Signed Contracts 11-2020 [Miller Samuel]
- Elliman Report: New York New Signed Contracts 11-2020 [Miller Samuel]
- Elliman Report: Colorado New Signed Contracts 11-2020 [Miller Samuel]
Appraisal Related Reads
- Working At Home: 4 Ways To Protect Your Personal And Professional Needs [Cleveland Appraisal Blog]
- Sen. Kelly Loeffler’s Atlanta Mansion Assessment [The Real Deal]
- Fannie Mae, Freddie Mac relax appraisal, employment verification standards in wake of coronavirus [HousingWire]
- FHFA Issues RFI on Appraisal-Related Policies, Practices, and Processes [Federal Housing Finance Agency]
- Santa Claus and helpers deliver gifts to Great Falls children [KRTV]
Extra Curricular Reads
- The Pleasures of Phil Ochs [Airmail News]
- Was the College Football Season Worth It? [NY Times]
- Howard J. Rubenstein, Public Relations Impresario, Dies at 88 [NY Times]
- Before They Closed, Restaurants Opened Doors for Us [NY Times]
- The 50 Best Podcasts of 2020 [The Atlantic]
- The Cheating Scandal That Ripped the Poker World Apart [Wired]
- Anything You Say in This Trader Joe’s Line May Be Used Against You [NY Times]
- Ashes of Star Trek’s Scotty Smuggled Aboard International Space Station [Vulture]
- 2020 has sucked—but there are some small silver linings [Technology Review]