Did You Know? Last weekend, I sent the Email saying there were no homes on the market in Emerald Bay, well, that didn’t last long. We now have one active listing available for sale (not including a few of my secrets), and it's under $5.5M🤔.
Did You Know? Bubble or no bubble, that is the question: The National Association of Realtors reported existing home sales for August slightly beat the estimates of 5,880,000. Now that we are in October, we can again say that the housing bubble boys and the forbearance crash bros have whiffed just as severely in 2021 as they did in 2020.
So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. (Housing Wire, Logan Mohtashami)
Did You Know? TWO articles on the same day on the same subject in the WSJ and Bloomberg: the concept of owning and living in two homes is gaining traction not just amongst billionaires, but also amongst the simply well-to-do. Deciding which is your 'primary residence' is becoming a big issue for consumers....and the taxman! Is this group of 'two-home-owners' further exacerbating inventory shortages?
Did You Know? Which States and Cities will be the MOTOR CITY of the 2000's? Ford plans to build electric trucks 50 miles outside of Memphis, Tennessee, an electric plant in Kentucky.....Tesla is building a huge plant in Austin Texas..... I would expect real estate values to shift in these areas too. Tennessee offered Ford $500m in incentives, while Kentucky officials expect the company to apply for $286m in forgivable loans and skills training.....yes, you CAN buy love!
Did You Know? When Vegans say "NO MORE COWS!" one of my first concerns is where are our gorgeous leather shoes - or sofas - going to come from? Enter TECHNOLOGY. Ivana Tagliamonte talked about Mylo UNleather, developed by Bolt Threads that takes just days to produce by growing mycelium in beds of corn stalks, where they form an interconnected three-dimensional network. Once they're ready, Bolt Threads compresses these mats to make a 2D material, after which they tan and dye it to produce the final product....a mushroom-based material that is a flexible, breathable fabric that feels remarkably similar to animal leather. I LOVE TECH!
Did You Know? Having discussions about money and how it’s made at the dinner table is really, really important. The concept of money saving and how the world works is something even a child can grasp at an early age.” - Kevin O'Leary The #1 issue for wealthier families these days is their worry about fiscal responsibility and literacy of their heirs. Financial literacy is the key to everyone's financial well-being.
Did You Know? Interest rates could rise to as high as 4% next year according to some projections, still historically low and well below highs set in the 90’s.
Did You Know? Real Estate has been performing very well as a sector on Wall Street recently and Barry Sternlicht’s Starwood Capital Group raised more than $10 billion to fund deals for distressed real estate.....He is betting heavily on a sharp improvement in the commercial sector.