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No Supply Problems, No Demand Problems….Do we have a Pricing Problem? The Year is ended with some good news in the world, and NYC Residential Real Estate is no exception.  We don’t seem to have supply problems – plenty of apartments for sale, though that number is shrinking- and will encourage more sellers to sell. Read more

I’m still talking about the bottom of the market this month, but I like to put on my psych-major hat on from time to time.  Let’s face it, the psych hat is on every day.  New Yorkers are nuts (including me)! There are some enduring myths around real estate that I’d like to hit on,Read more

A month ago, I posted a video and a blog post calling the bottom of the market.  I got a little bit of pushback, but mostly got a lot of encouragement, and puzzled questions.  It is time to clarify what I meant, with the hope that it helps move the conversation away from “New YorkRead more

I want to create another outlet for our Chief Economist, Greg Heym, who published this today.  These numbers are compelling and speak for themselves.  2019 was a soft market, and the end of 2020 is already exceeding it.  -S Manhattan Market Update Today, we look at Manhattan apartment contract signed data since the pandemic. YouRead more

In my video here, I talk about all of the statistics showing a market that has found a bottom. My other post shows all of the statistics that I’m seeing, but here I just want you to have one takeaway: We’re at the bottom.  When inventory starts to decrease, and the number of deals intoRead more

I’ve been in residential real estate for nearly 20 years, and have both perspective and opinion on everything going on right now- yet I don’t expect you to take my word for what I say.  Yes, I hope you will, but it rarely happens.  One of the main reasons we have a market at allRead more

Many of us are spending a great deal more time living in the virtual world.  Whether I am watching my kids play Roblox, experiencing hours of Zoom meetings, or (shocker) watching a great deal of Netflix, we are not engaging in person with nearly as many people.  Is it a shocker that Real Estate wouldRead more

(I submitted this to a number of media publications.  More hard numbers would help bring this to life.  Until then, I wanted to make sure this conversation begins.  If you have any anecdotes to share, please do. -Scott) _____ In 1958, Harry Belafonte, the famous Jamaican-born singer and performer, found it nearly impossible to leaseRead more

If a picture says a thousand words, this 40 minute rollicking interview certainly speaks many volumes.  Revenue Collective Founder Sam Jacobs and I talk about the state of the New York City residential real estate market for a while, trends up and down, and take questions from the audience.  Click on the image and enjoy!Read more

A concept I discussed with sellers for years was the “Absorption Rate,” to help give context to where their apartment fit into the market overall.   The explanation required some lifting.  Then Absorption Rate became “Inventory Levels,” which felt firmer, since it referred to the amount of property on the market.  Unfortunately, the original confusion actuallyRead more