Wednesday, April 20, 2011
Ranking by Knight Frank and Citi Private Bank, in the 2011 Wealth Report, of the world's top cities for property investment. This is based on four factors : Economic Activity, Political Power, Quality of Life, Knowledge and Influence.
1. New York
6. Los Angeles
Tuesday, April 5, 2011
FORTUNE magazine's April 2011 cover story about property as the most attractive asset class in America.
(i) Dramatic drop in new construction resulted in historically low new inventory
(ii) Steep decline in prices, average 30% below peak of 2006.
(iii) Property prices currently low because of low demand, driven by economy/jobs. Once job creation and consumer confidence improves, prices will increase.
Visit us at Castle Avenue Partners - Manhattan investment property
Saturday, April 2, 2011
The media is reporting
Here is the full Manhattan Q1 2011 market report.
Specific to condos:
Median price up 8% vs last year.
Avg price per sf up 5.4% vs last year.
Friday, April 1, 2011
Great chart comparing real estate investment vs other options in terms of beating inflation.
|GOLD ETF4||26||NEW SUPPLIES||TOLERABLE|
|HOME5||20||REAL ESTATE CRASH||VERY GOOD|
|JUNK BOND ETF6||40||DEFAULTS||DREADFUL|
|REAL RETURN FUND8||73||DEFLATION||TOLERABLE|
|RESOURCE STOCKS||0||BUSINESS RISK||TOLERABLE|
|SOCIAL SECURITY POSTPONEMENT||0||CONGRESSIONAL DOUBLE CROSS||GOOD|
|TIPS||0||RISING REAL RATES||BAD|
1ANNUAL HOLDING COST PLUS A TENTH OF ROUND-TRIP TRANSACTION COST. ASSUMES TREASURYS BOUGHT AT AUCTION. A BASIS POINT IS 0.01%.2IF ASSET IS OUTSIDE A TAX-SHELTERED ACCOUNT. 3COST SHOWN IS FOR POWERSHARES BEARISH DOLLAR ETF. 4ISHARES GOLD TRUST. 5REALTOR AND CLOSING COSTS ONLY, APPLIED TO A PORTION OF HYPOTHETICAL SALES PRICE. 6SPDR HIGH YIELD. 7CLOSING COSTS ONLY. 8FIDELITY STRATEGIC REAL RETURN.