Posted by Leonard Steinberg, president of COMPASS, on March 7th, 2015 As unemployment figures continue to drop, the likelihood of rising interest rates strengthens……and this may cause a spike in pricing as buyers rush to buy to capitalize on the current low (but rising) interest rates. Rising prices may force some to turn to renting,… [Read More]
NUMBER OF MORTGAGES DROPS DRAMATICALLY: A NEW ‘NORMAL"?
Posted by Leonard Steinberg on April 25th, 2014 The number of mortgages issued has dropped dramatically compared to a year ago fueling concerns that rising interest rates could have a negative impact on the housing market in general…..the bulk of the drop is attributed to the drop-off in re-financing. $235 billion in mortgage loans were… [Read More]
EUROPEAN CENTRAL BANK CUTS INTEREST RATES
Posted by Leonard Steinberg on November 7th, 2013 The European Central Bank cut interest rates to a new record low on Thursday, responding to a slump in inflation that has sparked fears the euro zone’s economic recovery could stall. Is this a move as a result of too much government spending and over-taxing? Were taxes raised… [Read More]
FIVE YEARS LATER…..
Posted by Leonard Steinberg on September 18th, 2013 This week, five years ago, the global financial crisis reached a fever pitch with the collapse of Lehman Brothers. Today the U.S. Federal Reserve is expected to begin its long retreat from ultra-easy monetary policy by announcing a small reduction in its bond buying, while stressing that interest… [Read More]
INTEREST RATES ABOVE 4%: WILL THIS IMPACT THE RECOVERY?
Posted by Leonard Steinberg on June 5th, 2013 The Wall Street Journal asks the question whether rising interest rates could stop the improving housing markets in the USA. Interest rates have climbed past 4% in the past month. The truth of the housing market is that in the hardest hit areas, prices fell so low… [Read More]
ITS OFFICIAL: HOUSING PRICES ROSE IN 88% OF US CITIES IN THE FOURTH QUARTER OF 2012
Posted by Leonard Steinberg on February 16th, 2013 It’s official in the mainstream press(although looking in the rear-view mirror is often a bit late): housing prices across the board are rising: Prices for single-family homes climbed in almost 88 percent of U.S. cities in the fourth quarter as the housing recovery broadened. The best-performing metro… [Read More]
DOES THE LOW INTEREST RATE MARKET REWARD THE WEALTHY OR/AND THE 47%?
Posted by Leonard Steinberg on September 21st, 2012 Interest rates are at record lows, so financing a property today is more affordable than ever. Here are some disturbing facts to absorb: 1) Is everyone who has a mortgage and takes the tax deduction part of Mitt Romney’s 47%?…..the mortage deduction is a government subsidized handout….basically. I… [Read More]
BERNANKE DELIVERS GREAT NEWS FOR REAL ESTATE
Posted on September 14th by Leonard Steinberg Fed. chief Ben Bernanke delivered some great news for the financial markets and especially real estate land: he plans on keeping interest rate low ‘well into 2015’: That bodes especially well for New York real estate buyers who currently confronted with ultra-limited inventory of existing apartments will feel… [Read More]
RATES TO REMAIN LOW TILL LATE 2014 SAYS THE FED
Posted by Leonard Steinberg on January 25th, 2012 Some good news for the real estate markets (and markets in general): To-day the Federal Reserve pushed back the likely timing of an eventual interest rate hike until late 2014, much later than it had previously said, as it nurses a still-sluggish economic recovery. In a historic… [Read More]
AND NOW?
What will be the results of to-day’s election? Chances are we will see a distinct shift to the right nationally, although locally the shift will be less pronounced we imagine. How will this all affect New York real estate? Here are our predictions: 1) GREEN BUILDING: This area will be less supported by the Federal… [Read More]