The Real Deal - New York Real Estate News

Why early buyers of the Trump Organization’s $200M Scottish housing project are raising eyebrows

Posted: 16 Sep 2018 01:00 PM PDT

Despite Trump International Golf Links Scotland money troubles, there is significant interest in buying homes the company’s developing adjacent to its Aberdeen course–at least according to their legal team. “It is rare for a development to attract such interest prior to the submission of a planning application,” Trump’s law firm noted in its filings to Aberdeenshire Council, as reported by Bloomberg. Many homes have been reserved, the lawyers claim, despite the development’s pending plans. The […]

California unseats New York as home to the country’s priciest real estate

Posted: 16 Sep 2018 10:00 AM PDT

How far does a dollar go in terms of square feet? It used to depend on whether you were in New York or not, but now it largely depends whether you’re in Cali or not. A recent Zillow study examined the question by looking at how much space one dollar bought across the country, which Bloomberg then extrapolated to account for a king-sized mattress, or about 42 square feet. The results were not wholly surprising—money […]

The future of prop tech to include software to ID weapons?

Posted: 16 Sep 2018 09:35 AM PDT

In a crowded space rife with venture capital, MetaProp is launching their fourth accelerator class–a New York City-based program that supports prop tech companies over about six months–and there are some unexpected participants this time around. Top among them is Chicago-based company, Aegis AI, which uses artificial intelligence to monitor surveillance camera footage and detect weapons in buildings. The company was founded in May and, according to CrunchBase, promises to deliver software that will send […]

Who are NIMBYs anyway? Here’s what the studies say

Posted: 16 Sep 2018 09:00 AM PDT

White, older men who own homes will make up the majority of the audience at any public meeting on housing or zoning. Of that group, more than 60 percent already have their positions set before the meeting even begins–and they are against any proposal being discussed because, as they will explain, of traffic concerns. Those are the findings of a study conducted by researchers in the Boston area that tracked participants in nearly 3,000 public […]

As Hurricane Florence pummels the Carolinas, what the damage could mean for the housing market

Posted: 16 Sep 2018 08:30 AM PDT

Hurricane Florence continues to slam the Carolinas with record-breaking rainfall and, with flooding now expected to reach Charlotte, NC, analysts are beginning to consider the after-effects of such a devastating, unusual storm. Realtor.com’s chief economist Danielle Hale said damage from the hurricane was “likely to disrupt national home sales and construction for months to come.” She expects rainfall and subsequent flooding to cause damage even to properties outside the path of the storm leading to […]

Guess who’s healthier and happier between renters or home owners?

Posted: 16 Sep 2018 08:00 AM PDT

Who needs the aggravation of owning a house? A new Apartment List report suggests that renting may lead to a happier life–at least in terms of a few key metrics like sleep and time spent relaxing versus doing chores. Based on a survey of daily activities, the report finds that renters spend the majority of their time each day sleeping, followed by time spent on “relaxing and leisure,” whereas the majority of homeowners categorized their […]

Step aside New York, Hong Kong is now home to the most ultra-rich people

Posted: 16 Sep 2018 07:00 AM PDT

Hong Kong has overtaken New York as the city of being occupied by the most ultra-wealthy individuals — that is, people worth at least $30 million. The former British colony is now home to more than 10,000 ultra-wealthy people, Bloomberg reported. Citing a report by research firm Wealth-X, the outlet reported that Hong Kong’s ultra-wealthy population jumped 31 percent last year. That increase surged past New York, which is home to around 9,000 of the […]

Got $40K? Here’s where you could buy a house

Posted: 16 Sep 2018 06:00 AM PDT

If you follow the golden rule of real estate–location, location, location–home ownership can be done with a low-five figure income. The National Association of Realtors’ second quarter survey of national data found that an annual paycheck of $40,000 (or less) was sufficient to qualify to buy a home in 15 cities, according to CNBC. NAR’s index depends on a mortgage rate of 4.7 percent and monthly payments capped at 25 percent of the buyer’s income. […]