💰 High-Rise Heist & Property Price Drops!
Elevate Your Portfolio: Dive into Skyscraper Bargains & Market Dips
Someone just hit the jackpot and got themselves a prime piece of real estate in one of the most expensive markets in the world for a fraction of what it cost to build it.
In the housing market it looks like even the big spenders are saying “enough is enough, and the bubble we’ve all been riding might be about to burst.
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The office market in NYC is showing signs of distress, with more empty desks than a ghost town.
And let’s not forget the ‘zombie mortgages’ in Utah, coming back to life and catching people off guard.
Oh, and the homebuilders? Sentiment is at an all-time low, thanks to soaring mortgage rates.
In this edition of the AltReports:
🏗️ Skyscraper Sale
💥 Bubble Burst
📉 Empty Empires
🧟♂️ Resurrected Repayments
👷♂️ Builder Blues
Video of the Week: Housing Market Reacts to Higher Mortgage Rates
Chart of the Week: Canadians Should Brace for a Significant Downturn in the Housing
Podcast of the Week: How Jeremy Doubled His Deal Volume in 12 Months
Manhattan Office Sells for 25% of Cost to Build It
Some bright spark sold an office building for a mere 25% of the cost to erect the darn thing!
Not only does the lucky buyer now own a piece of prime real estate in the fearfully expensive Manhattan market but they also managed to snag it for a quarter of what it cost to construct.
It's like Black Friday, but with skyscrapers
Homebuyer can only splurge so much before yelling "enough already!"
Well folks, we're at that tipping point thanks to prices spiking 40% since 2020.
But boomtown earnings? A measly 13% increase.
Even the high rollers can't inflate the bubble forever; eventually, it's down to Joe Public, who can’t cough up anymore.
Signs Of Distress Growing In NYC Office Market, But ‘The Worst Is Yet To Come’
Has anyone looked at the Big Apple lately? It ain't doing so good.
The market’s a mess and our financial fairyland's leaking distress signals, with avenues of abandoned desks, that make it look more deserted than your dating life.
But, hey, chin up, stargazers! The talking heads assure us that the worst is... well, we don't really know. More emptiness or price-drops?