Goldman Sachs got in trouble for bundling sub prime mortgages and selling them to investors less than a decade ago. The Dept of Justice negotiated a plea agreement which Goldman Sachs must provide $1.8 billion in consumer relief on their home mortgages.
Goldman Sachs has since purchased $5.7 billion worth of Fannie Mae’s non performing loan portfolio and they don’t appear to be finished.
Is Goldman Sachs creating a new sub-prime investment product of bundled mortgages to sell?
The powerfully influential Real Estate Board of New York has fired a second salvo at StreetEasy in a follow-up letter to NYS Department of State, alleging it to be “illegal” for another real estate agent to advertise on another agent’s exclusive listing.
StreetEasy recently announced they were making their parent company’s Premier Agent advertising product a standard feature of their product offerings to agents in the NYC area.
REBNY cited instances where consumers phoning to speak to an agent about a NYC listing were routed to agents in Ohio, along with other issues they framed were in complete opposition to consumer needs.
Will Zillow’s lobbying efforts with state elected officials overwhelm REBNY’s efforts to get officials to kill Premier Agent?
Westchester, Nassau and Suffolk counties are seeing listing inventory dry up.
Demand has increased for homes outside New York City at a pace that current weather conditions don’t appear to influence negatively.
With home prices in Brooklyn and Queens continuing to break new records in emerging neighborhoods, buyers appear more willing to be value conscious over commuter convenience.
Has NYC’s outer boroughs priced out qualified buyers?
The days where first time home buyers with 20% down may be in our rear view mirror.
Millennials are finding it hard to qualify for conventional mortgages and a FHA insured mortgage gives them the opportunity to purchase with low down payments.
Particularly in Brooklyn, where the housing stock is some of the oldest resale inventory in the City.
Many are choosing the mortgage product so they can use their savings to make badly needed repairs to properties they’re purchasing.
Is this the market sign that evidences we’re in a new housing bubble?
In what some consider a strong indicator of how bad Manhattan’s luxury real estate market has been, it took nearly 5 years to sell Sean “P Diddy” Combs 3 bedroom condo with Central Park views.
After coming to market in 2012 for $8.5 million, it experienced several price cuts and 4 different brokers before it made its way back to market.
It ultimately closed for 32% less than its original list price in an all cash sale.
With Manhattan real estate serving as the City’s leading real estate market indicator, are the outer boroughs about to experience a similar market fate?
Each week THE STREET brings you 5 things moving New York real estate. Let us know which item reveals opportunity or causes you to pivot from your current strategy.
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