Risk of a banking-sector collapse, wobbly stock investments and forever changes to where and how people work after the global pandemic revealed the upside of flexible jobs are just some of the drivers impacting high-end real estate — in fact, housing markets broadly.
Don’t miss: With home-buying season in full swing, see how housing inventory stacks up in your neighborhood That said, volume is obviously lower. And buyers are a little bit cautious with emotional purchases. We did a lot of transactions during the COVID quarantine years with people who were making decisions more with their heart than with their wallet and logic. And so it was a very, very active market that has now slowed down a little bit but is still strong.
Serhant: At the beginning of this year, we started to see foreign purchasers come back into the United States. You know, they like buying U.S. dirt, right? They like putting money to work here. MarketWatch: Any particular trend right now? Certain configurations, certain amenities, footage? What’s moving faster than others?
MarketWatch: I cover sustainability, climate change and energy transition topics as well. So I wondered in the luxury market, let’s compare it to, say, three years ago versus five years ago versus 10 years ago, are those types of questions factoring in? I’ve even covered some markets where buyers are opting for the sleek look of induction electric stoves over once must-have gas.
MarketWatch: We’ve covered a lot of articles on the future of downtowns and city cores in a post-COVID world, the future of hybrid office work, work from home, the destiny for half-empty office towers. And certainly, there are advantages and challenges of turning office buildings and their unique plumbing stacks or lack of natural light, into residential. What’s your take?
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