Skip to comments.Only Three Homes Over $4 Million Found Buyers in Manhattan Last Week(oh but, I keep hearing how well RE market is doing)
Posted on 07/24/2020 6:46:17 PM PDT by Vendome
In nine weeks, the borough has seen just 25 luxury homes enter into contract, an 88% decline year over year
Buyers have signed deals for 25 luxury Manhattan homes since the crisis started nine weeks ago, compared to 207 contracts during the same time span last year, according to Olshana remarkable 88% decline year-over-year. The latest contracts highlighted some ways in which the crisis has changed buyers priorities to favor perks such as outdoor space.
The most expensive deal, for example, was a three-bedroom condo in one of the new Waterline Square buildings, a trifecta of glass towers each designed by a noteworthy architect, on the far West Side. The home, asking $5.15 million, spans a little more than 2,000 square feet, but the selling point was its 1,149-square-foot wraparound terrace.
(Excerpt) Read more at mansionglobal.com ...
The Graph at the beginning of the article is visually devastating.
Couldnt see the graph
Places like Austin, Aspen, Scottsdale, Santa Fe, Vail booming now. Cityfolk with money are scrambling for luxury digs, but inventory is nil.
Forced shutdown coupled with riots tend to do that. Who would have guessed.
I’ve heard that suburbs around cities are seeing a run on housing. Connecticut housing, for instance, is seeing a lot of demand from people who want to get out of New York.
Escape from New York.
There are other articles in Barrons, Wall Street Journal etc saying same.
I went to Stanford Shopping Center in Palo Alto last week.
Hardly anyone there.
Picked up another egg by Christofle
Went to dinner at California Pizza Kitchen. Pleasant but, menu was condensed.
Ate outside. Where else can you eat?
As we were leaving two people were entering the dining courtyard and we didn’t have our masks on.
Dude has his on as did his girl and he gave the most “Are you kidding look”
I tell you I was ready to get it on right there but, kept on walking
would you buy any property in nyc???
Yes, Scottsdale is booming.
Homes in my community sell in 2 weeks
Here in the Vancouver area close to Portland, my neighbor’s house went pending in less than 30 days.
I listen to a financial markets podcaster out of Chicago, whose girlfriend is a real estate agent. He said that her four most recent clients are all saying the same thing: they want out of Chicago NOW, and they want a place with a yard—they want nothing more to do with urban highrise living.
Here in Montana, a neighbor sold in three hours. Another place had 19 offers the first day.
Perhaps the fact that Rat Party (and RINO) Governors have destroyed the nation’s economy and that Rat Party mayors are allowing Molotov Cocktails to fly at will might have an effect on real estate in certain areas.
Mine is not for sale of course. Who would give up a house and property with (high ground, excellent fields of fire, and only one high speed avenue of approach.)
Can we send them back?
You probably should
Like there’s a girl for everyone there’s a property for everyone!
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