N.Y.C. high-end real estate getting hit hard: Brown Harris Stevens CEO

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[pibadar]

Not coming back anytime soon. With more work from anywhere becoming the norm the demand to live in crowded overpriced cubicles is a thing of the past

[bchandle]

without businesses and top earners paying NYC taxes let's see how the city function. what a bunch of smart leaders at NYC.

[ChrisTodd]

If you can only eat at McDonalds in the big city, no one will want to live there.

[joemac]

This lady is trying to get out so someone else is left holding the bag on NYC real estate LOL

[Vanguardsofkemet]

New York is DONE
And thankfully
It will Never be the same .

[mrpmj]

Stocks are better investments than realestate.
1. REALESTATE: Let's say you bought an average home $250k with 20% down which is $50k+ $7k closing costs (usuallly 2%-5% of

loan so
let's use 3.5%) . house + 3% appreciation = $257, 500. Less 6% sales commission, 3.5% closing costs, offering a home

warranty =
$231, 750. Now subtract the $199k loan ($200k - $1k towards the principal) and your profit is $32, 750.
So, you actually lost money because you brought $57k to the table but now you only got $32, 750 net sale, so you lost -

$24, 250. And I
didn't even include these profit killers: property taxes, insurance, fixup costs (termite spray, new paint, new carpet, fix

roof, fix
heatpump/air conditioner, pool equipment, pool remodel).

2. STOCKS: $57k invested and the previous 12 months returned 9% which is a profit of $5, 130.

I bought Amazon, Apple, Nvidia, Facebook, Microsoft, Google, Wells Fargo, CRM, Lululemon, Broadcom (AVGO), Adobe

[supertrouper]

Let's be real here. The only reason why people moved into the big cities was for the convenience of job opportunities they wanted and to conveniently travel to work as well as they wanted the glitzy entertainment lifestyles, but never enjoyed the overcrowding and tight spaces and crazy people. Now that many of them can easily work from home on their technologies, they are fleeing the big cities and staying out in the suburbs with a bigger house paying a mortgage/rent price for a similar rent price they paid for a tiny crowded apartment in the big cities, they are not coming back into the big cities and many of the suburban people will now be further discouraged from moving into the big cities because there will be more job opportunities that allow for them to work from home on their technologies as well as they can pay lower taxes in the suburbs than the big cities, don't have to deal with the overcrowding and crazy people and traffics of the big cities. There will still be people moving into big cities, but it will be more of those that are seeking jobs that require sedentary work environments, any jobs that do not require to be in sedentary work environments will be more based out in the suburbs and limited in the big cities.

[EdgeO]

OH NO CLUTCH THE PEARLS, THE MOST OVERPRICED, OVERVALUED REAL ESTATE ON THE PLANET IS STRUGGLING!! OH NO, HOW WILL WE SURVIVE THIS AS A COUNTRY!!??!

[michaelshih]

You have to pay me to live in NYC. It is a crummy place.

[mulekickhandmadeguitars]

The "pandemic" has nothing to do with why people are fleeing New York. It's the same reason why people are fleeing California. How soon will we be seeing a time when Americans immigrate to other countries to find a better life?

[supertrouper]

With all those people fleeing from the cities to the suburbs as well as even business due to the Covid-19 pandemic concerns, overcrowding, expensive housing and taxes, the convenient ability to now work from home on their computers and etc., these people and businesses will miss the conveniences of shopping and running errands and entertainment in the big cities, but want to comfortably live in the suburbs in their giant houses with no overcrowding and crazy traffics and I can guarantee these people and businesses will inevitably gather their ideas and resources together to build up miniature cities in currently empty lands in all these suburban towns with businesses, entertainment places, restaurants, office businesses, educational institutions and etc. to give all themselves and the suburban people the convenient short distance access to the business errand shopping district as well as job and educational opportunities without being in the giant cities, this will even further discourage the suburban people from wanting to move into the big cities and now all those wanting to seek entertainment and fun will have all that access in their hometowns.

[aaraar]

Need to stop printing money and bailing out businesses let the thing go down so for once we can have true price discovery
That goes for the stock market as well

[paulwhite]

Please just wait a minute you have record homeless people on the street in shelters & you're talking about fairness & politician should meet in the middle how about you've creeps take some vouchers, then I say let's meet in the middle, 👎👎🥴🥴

[jakeizlove]

So what's a great website to find inexpensive rentals in Manhattan?

[MasticinaAkicta]

I wonder how fast NYC is ready to film Escape from NY 2. And who can fit the role of Snake Plisskin

[chiquita]

Why does she have a photo of Muhammad Ali on her desk? Weird

[ytfeverguy]

wonder if its easier to get a date in NYC these days.

[roymulinix]

I went to NYC in college to visit....(as a tourist). I was bored in one day! Who would want to live there. Yeah, I wanna ride on packed elevators all day (virus). Crime, crowds, hate the sports teams, liberal. SUCKS. OH

[giupvo]

Billionaire Tim Draper - $250k a Bitcoin, 2022 year end
Stock to flow model by Plan B - $288k Bitcoin, 2021 year end
Citibank - $318k Bitcoin, 2021 year end
Scott Minerd from Guggenheim - $400k Bitcoin
JP Morgan - $600k Bitcoin.

[pamelagrosvenor-murray]

Greed is the motivation of the upper class, they will do nothing until the city is empty ! Poor people can leave just like rich people and Paradoxically, when the poor leave the rich are forced to follow!