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Economy
Large Real Estate Firms Reduce Workforce as Homebuying Demand Cools
During the first quarter of 2020, the median home price in America declined from $329,000 to $322,600 by the start of April. The pandemic...
NYC Permitting Activity In Q2 Was Almost Twice as High as it Was in 2021
While the results of New York Yimby's Q3 report are just around the corner, the Q2 Report detailed the level of construction permit filings...
Widespread Tech Layoffs and Hiring Slowdowns: Could They Have Been Avoided?
Fintech and proptech startups raised a collective $163.5 billion in 2021. In 2022, they’re leading the way in the number of global layoffs—make it...
First-Time Homeownership Increasingly Difficult for the Average American Family
Prospective homebuyers are unable to compete in today’s market as investors continue to buy up homes and turn them into rental properties.
The past couple...
The Median Rent in Manhattan is $4,000, Up 25% Annually
According to a May 2022 report from Douglas Elliman, median rents in Manhattan, Brooklyn, and Northwest Queens grew exponentially over the last year. Manhattan,...
Real Estate Firms Compass and Redfin and More Announce Layoffs
With the real estate market cooling off and the economy slowing down, real estate companies are starting to make changes. In filings with the...
The Housing Market May Be Cooling Down, According to a Redfin Study
A recent Redfin study suggests that the housing market may be cooling down. According to the study, almost one in five home sellers dropped...
Worker’s Revolution Set to Restructure the NYC Economy
With more offices adopting hybrid work as a permanent practice, the future of NYC’s economy is up in the air. Manhattan relies heavily on...
Market Update: May 11, 2022. Gas, Inflation & Rates On The Rise, Market Down.
While we try to incorporate at least a few positive market developments into each of these updates, we are going, to be honest with...
Home Appreciation Contributes To Generational Wealth
Over the Last Two Years, Rapid Home Appreciation Has Created More Than $6 Trillion in Household Wealth
The housing market appreciated roughly 33% since the...