A recent release from Virtual Strategy Marketing has helped to shed some light on the NYC real estate market. The release covered the newly released Aggregate report from TOWN Residential. TOWN Residential’s quarterly report contains a bevy of information related to this rapidly changing marketplace.
First and foremost, prices have continued to go up nearly across the board. Average sale and median prices have shot up 5.2% and 16%, respectively, year-over-year. Coupled with these gains is a rise to new record highs of price per square foot. The average price has reached $1.505, up over 8% in the last quarter alone! Median price per square foot is also up significantly, reaching a high of $1,365.
The biggest gain in the market has been with condos, which posted a 20% year-over-year gain in Manhattan. These pricey dwellings are now selling for an average of $1,736,250. More importantly, three bedroom co-ops have been steadily rising as well. Up 15% over the last year these homes have now risen past the $3,000,000 mark.
Although it seems as if there is no end in sight for rising prices, TOWN Residential has some interesting news. A major reason for the rise in many of these prices has been due to the fact that a significant amount of new luxury properties have been closed on, skewing prices higher. The resale market, on the other hand, has actually been stabilizing recently.
This comes as good news for many buyers, who previously were at the mercy of sellers if they were to obtain coveted real estate in Manhattan. Now, it seems as if informed buyers are taking their time, which is evident in the increase in median days on the market for new houses. This has also allowed a healthy inventory to build up, with over 4,000 houses currently on the market in Manhattan.
Is Europe on the verge of collapse? Is the refugee infiltration a problem in Germany? According to billionaire financier, George Soros, the European market as we know it is on the verge of a crisis. If refugees are allowed to continue to infiltrate or enter the area, migration may cause a financial collapse that is too difficult to rebound from.
George Soros may have a good insight on FX Street of what is to come from the migration of refugees into Germany. He is speaking out to the local government in hopes they will find another solution to stopping such high numbers of refugees from entering the country.
According to the open policy, Europe has allowed thousands of migrants to enter the country. This is a burden to the finances of the country because most of the migrants do not come in with a job or money to start a business. Most of them do not speak the native language and it is difficult for them to function in the society that is Germany. The millions of refugees that are now in the area are burdening the market and the ability for EU to survive.
We all understand the kindness and generosity of helping refugees from terrorist countries. We all know how it is to be free from the worry of harm and possible starvation. Terrorism is one of the worst things that drives people from their own countries. Terrorism is not only in other countries but is in our own back yard. With this said, how can refugees feel that they will be safer by migrating to Germany.
German President wants to set a limit on the number of refugees entering the European Union. He states that the borders should not be open for anyone that wants to come in. Not because he believes that terrorist is the ones coming in but because of the burden these refugees put on a society. there is a need for Radicalization in EU. Germany needs to demand that anyone entering their country meet certain guidelines prior to the approval to come in. A refugee must be able to speak the language of the country they are entering. If they can not speak the language, they must begin immediately to learn this language. They must also have jobs or be willing to create jobs for the economy.
When refugees enter a country and take the jobs that the country is dependent upon, we are heading for a collapse. According to en.wikipedia.org/wiki/European_Union EU PR means a permanent residency. EU is concerning trade and the economic bloc. Geroge Soros believes that Chancellor Merkel is leading her people down the wrong path that will only end in the destruction of society as Germany knows it now.
If someone is making great strides to climb the list of the richest people on the planet, they are certainly worth paying attention to. At least this is true if you also wish to be a wealth person at some point in your life. One such individual is a man named Ken Griffin. Although the top 10 on the Forbes list tend to suck up all of the spotlight, there are some gems in the middle of the pack as well. Ken currently holds spot number 69 on the Forbes list, but that is up from spot 91 in just one year. He has made a lot of progress because his stock picks have been deadly accurate in a year when others were so wrong. What he has managed to do at his firm known as Citadel is nothing short of amazing. While the S&P 500 index has been essentially flat to slightly down, Ken has posted returns that top 13% for the first 8 months of 2015 on insidermonkey.com. This despite all of the market turbulence in the month of August. He has been a hero to many for his ability to pull this off, and it just goes to show that sometimes there are people who really can best market returns and go the distance. Griffin is a graduate of Harvard University where he obtained a Bachelor’s Degree. He believes that this level of education helped him get to where he is today. As such, he strongly supports education opportunities for others, and he sponsors a number of causes which help promote education to people. He is on the boards of a variety of different charitable causes, and he has a passion for the work that he does. Basically, he is the type of person who never quits working hard to help support others who are in need. It is this kind of inspiring hard work that should make us all look at him as a role model for the world. Investors are smart to follow what this man is doing and at least keep tabs on it. He has certainly earned the respect that the marketplace gives him.