|
TV, Videos
|
Its always fun to join Alexis Christoforous at Yahoo Finance TV – and I met her colleague Brian Sozzi. They’ve got a cool new broadcasting facility and I contend, the best green room in the TV business. If you’re curious where the term “green room” came from…no, it’s not that obvious.
We spent most of the time late last week discussing all the changes occurring in the NYC market this year. Fun.
Tags: Yahoo! Finance, Alexis Christoforous, Tax Cut and Jobs Act of 2017, Brian Sozzi, First Trade
|
TV, Videos
|
I had another a fun interview on Adam Shapiro and Julie Hyman on fledgling Yahoo Finance TV. Verizon is going gonzo to get it going with even more original programming. One observation – each time I’ve been invited to talk about the housing market, the stock market plummets at least 600 points. Correlation or Causation?
Tags: Yahoo! Finance, Elliman Report, Douglas Elliman, Julie Hyman, Adam Shapiro
|
TV, Videos
|
I was invited by Julie Hyman at Yahoo Finance TV for a discussion on the weakening luxury housing market and some other topics of interest. I’ve known her for years, after a long run at Bloomberg TV, and am excited about her new opportunity at Yahoo.
When I arrived at the studio, the stock market was being battered (down by over 400 points at the time of this broadcast) by the conflicting interpretations of the recent US/China tariff talks and the results Toll Brothers analyst call. It was exciting to be there during the perfect storm. The conversation shifted from what I was invited to cover, to the developing news story.
Yahoo is ramping up live coverage in early 2019 via 100% internet. Judging by their super cool/huge studio and throngs of people working there, Verizon seems very serious about their investment.
Tags: Yahoo! Finance, Luxury, Julie Hyman, Toll Brothers, Adam Shapiro
|
TV, Videos
|
Here’s a summary of potential future actions by Chinese investors with the recent spate of volatility in the financial markets.
According to Jonathan Miller, president of appraisal firm Miller Samuel, the tumult in China may lead to even more money finding its way into American residential and commercial real estate. “There are not a lot of investment vehicles in China,” said Miller. “You have the [Chinese] housing market, which is a pretty significant bubble. You have thousands of ghost cities that have been constructed. On top of that, you have a pretty volatile stock market situation. So there is some speculation that there actually will be outflow as a result of this and maybe that will end up in the U.S.” Costello concurs with Miller, noting that China’s insurance companies have been allowed by their regulators to invest in foreign real estate only since 2012. “Unless and until they have to cover losses at home, they’re not going to sell these properties,” said Costello. “They’re going to hold them for the long term.”
Tags: Yahoo! Finance, China, Chinese investors, Chinese stock market, Jim Costello, economist, Real Capital Analytics
|
TV, Videos
|
Lauren Lyster put together an interesting piece called: $100 million listings?! Pros explain why this real estate market is hot, but not a bubble that explores the disconnect between this development boom and the housing bubble last decade.
Tags: Lauren Lyster, Yahoo! Finance, San Francisco, housing bubble
I had a great conversation with Lauren Lyster on Yahoo! Finance, Daily Ticker on the super high end housing market. Incidentally, if she switched from TV Host/Reporter to real estate, she’d have the best name in the real estate brokerage business.
Here’s a recent list of high priced sales.
Tags: Lauren Lyster, Yahoo! Finance, Daily Ticker
Source: Yahoo! Finance
I had a nice conversation with Lauren Lyster today over at Yahoo!’ The Daily Ticker.
I find the bifurcation (yes Bernice, I actually used this word!) between those who see the housing market as recovered and those who don’t fascinating. A recovery is a process and we are in the middle of it – but it hasn’t reached it’s destination. As far as the <7% unemployment comment in their post headline goes…I see housing as normalizing when employment normalizes – not that 7% is a trigger for housing to suddenly recover below this threshold. Nuance, baby.
Why else would so many fret about rising mortgage rates? Nearly every comment on the video – 146 when I wrote this, referenced the weakness of the job market, under employed, lower wages.
I think rising rates are a good thing for housing, long term because they take some of the froth out of the market. Seriously – how can prices rising more than 12% YoY with flat income, high (but improving) unemployment and tight credit? One could even argue that a better rate spread with higher rates and bank business decision pressure to loosen standards as refi volume drops sharply will bring some easing to underwriting standards eventually.
Aside
If you want to get some clarity, watch this video earlier this morning over at The Daily Ticker on Why Investors Should Ignore Economists. No one makes a point more clear (or more bluntly) than my friend Barry Ritholtz.
Tags: Yahoo! Finance, Daily Ticker, Barry Ritholtz
[click for video]
I was interviewed on the Daily Ticker by Yahoo! Finance’s very sharp Lauren Lyster on a USAToday story that Millennials now entering the housing market. Basically I agree but we are very early in the process. Household formation has been restrained since the financial crisis began 5 years ago but rising rents and falling mortgage rates are perhaps forcing the issue.
Tags: Lauren Lyster, Yahoo! Finance, Daily Ticker, USA Today
If you haven't already, sign up for
'Housing Notes' to receive weekly insights and research.
Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state, and federal courts. He holds the Counselors of Real Estate (CRE) designation, is an Appraiser “A” Member of the Real Estate Board of New York, and is a member of RAC.
Learn More...
You'll be able to choose from an array of robust housing metrics compiled using research developed during the preparation of our market report series. Expanded significantly from prior offerings, use this resource to build charts and custom data tables or leverage your own information for more powerful research and presentations.
In the meantime, here is a small sample of the aggregated data we will provide.
Forbes ('20-)
Appraisersblogs ('17-)
'Three Cents Worth' column 3CW ('05-'16)
When Curbed was acquired by Vox, my eleven years of 3CW chart art and column links were broken on Curbed NY, Curbed DC, Curbed Miami, Curbed Hamptons, Curbed LA, and Curbed Ski.
Many of my 3CW charts can be found here:
Curbed 3CW Full Chart Archive
Op-ed column ('14-'15)
'Economic Spotlight column ('03-'09)
New York Times experiment ('08-09')
Huffington Post (09')
Favorite "How to Value" Posts
Recent Comments on Matrix