New York City Real Estate | NYC, NYNew York City Real Estate | NYC, NYNew York City Real Estate | NYC, NYNew York City Real Estate | NYC, NY
  • ABOUT
    • ABOUT SCOTT
    • ABOUT THE TEAM
    • PRESS
  • BUYERS
  • SELLERS
  • VIDEOS
  • LISTINGS
  • JOIN OUR TEAM
  • BLOG
  • CONTACT
  • CALL SCOTT NOW

Three Things To Keep the Housing Market Roaring in NYC

    Home Newsletter Three Things To Keep the Housing Market Roaring in NYC
    NextPrevious

    Three Things To Keep the Housing Market Roaring in NYC

    By admin | Newsletter | Comments are Closed | September 30, 2021 | 0

    This feels like a housing market that has exploded in 2021 DESPITE having both hands tied behind its back!

    Partial view of woman with tied hands isolated on black - Photo, Image

    the market has been outperforming for months with so much holding it back! <a href=”https://crello.com/unlimited/stock-photos/343671162/stock-photo-partial-view-woman-tied-hands/”>Photo Partial view of woman with tied hands isolated on black created by AndrewLozovyi</a>

    Let’s look at what’s been going on:

    • Offices remain at 20-25% occupancy
    • Limited access to the US from Abroad
    • COVID remains an active concern
    • New York still recovers from the mess of 2020.

    And with all of that, the market is still roaring.

    With this is mind, it seems there are are still three things which should catapult the market forward.  They are:

    • Inflation, including a Rising Mortgage Rate Environment
    • Opening of the US Borders
    • Vaccines for Kids

     

    Inflation and Rising Mortgage Rates

    We’re starting to see signs of tghe end to our historically low mortgage rates.  While the Fed doesn’t seem to want to do anything quickly other than to signal an end to their bond buying, mortgage rates are likely to rise in 2022.  The pressure of rising rates, while somewhat concerning to buyers as their purchasing power is slightly diminishes, does more today to pressure the market, and to get buyers to act today.  Conversely, it helps all-cash buyers over time to be more competitive.  They may not see massive discounts, but it will help them win more deals.

    Further, inflation, which is the inevitable conclusion of so much cash injection into the markets from the Fed, is already having an impact.  Inflation is tracking now, and that can’t help but drive assets prices up.  Read more here.

    Opening of the US Borders

    If the housing market is roaring without foreign buyers, imagine what’s going to happen when they step into the market.  November 1st, we press the green button.  Read the article here.  Pent-up demand from the entire Trump term, plus the time when travelers couldn’t be here, adds up to one thing.  A wellspring of buyer activity.  The world will start coming back to visit our shores.  New York is the first stop.  Look out, folks!

    Vaccines for Kids

    The longer I look at the past eighteen months, the more I realize that children and their being physically in school is the lynchpin to our society’s advance.  Once our youngest cohort can get their vaccine shot, the rest of our puzzle falls into place.  This will undoubtedly put us on the road to normalcy in a way that we haven’t yet seen.  This means reopening of offices, many people going back to work in general, and an enthusiasm about many things going to a rejiggered normal!

    And…

    I’m not even thinking too far along about how full hotels, more people in their offices in Midtown, or any other post-Covid progress helps the market, too.  Let’s just say that we have enough wind in our sails to get us pretty far along.  -S

     

     

     

    No tags.

    NextPrevious

    Recent Blog Posts

    • (VIDEO) Celebrating 150 Years In Residential Real Estate- And my 20th Anniversary, too. January 31, 2023
    • How to Make An Extra $1mm on the Sale of Your Townhouse January 30, 2023
    • What’s Going To Happen To All The Office Space In NYC? January 30, 2023
    • NYC, Manhattan, and The US: A Reversion To The Mean January 30, 2023
    • The Best Lead Measure in The NYC Housing Market Right Now January 30, 2023
    • How To Think About Mortgage Rates Right Now January 30, 2023
    • Are You In, or Are You Out Of New York City? The End Of Ambivalence. December 22, 2022
    • Mortgage Math- How To Spend LESS on Your Mortgage Right Now – What No One Is Telling You December 22, 2022
    • Selling To An Insider Could Cost You $150,000 December 22, 2022
    • The Unintended Consequences Of Higher Loan Limits on “Conforming Loans” November 30, 2022

    Archives

    Call us: (646) 400-0769
    Email us: sharris@bhsusa.com
    Visit us: Brown Harris Stevens
    1926 Broadway
    New York NY 10023

    © 2023 The Harris Residential Team. All rights reserved.
    • About Scott Harris
    • About the Team
    • Press
    • Buyers
    • Sellers
    • Videos
    • Listings
    • Blog
    • Contact
    • Call Scott Now
    • Brown Harris Stevens Fair Housing Policy
    • ABOUT
      • ABOUT SCOTT
      • ABOUT THE TEAM
      • PRESS
    • BUYERS
    • SELLERS
    • VIDEOS
    • LISTINGS
    • JOIN OUR TEAM
    • BLOG
    • CONTACT
    • CALL SCOTT NOW
    New York City Real Estate | NYC, NY