MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 12/04/2023 – 12/11/2023
Let’s see what the market’s doing this week in the Riverdale area of the Bronx.
Did You Know?
* Wishing all our COMPASS friends and family well in the Clarksville area, that was hit by violent storms over the weekend.
* Over 60,000 agents left the real estate brokerage industry in the 6 months leading up to May, according to NAR data analyzed by Reventure Consulting, which provides real-time data on the housing market.
* As a group, the world’s richest families have gotten $1.5 trillion wealthier since the last ranking, and the new tallies from the Middle East weren’t the only noteworthy shifts. Among the biggest gainers was a different kind of royal house: the 6th-generation dynasty behind luxury brand Hermès, who added $56 billion to become the world’s 3rd-richest by eschewing fads and cultivating loyalty. Because-you-can-pricing combined with artificial scarcity pays dividends?
* By a 6-to-1 vote on Tuesday, the Salt Lake city council ended single-family zoning. In Austin on Thursday, the vote was 9-to-2. The goal of ending single-family zoning is shared by affordable-housing activists nationwide, but its actual consequences hinge on how exactly it is done — and what exactly replaces it. Yet the rules governing the size of structures have not been changed. And if builders want to use the new multi-unit option, they have to designate half the units as “affordable” — i.e., offered at a discounted rent. Under these terms, people with experience in the housing industry estimate few if any projects would actually pencil out as profitable. (Bloomberg)
* Alcohol is the third-leading cause of death in the U.S. and the No. 1 risk factor for premature death among young men. 30 million Americans are in a clinically unsafe relationship with alcohol, and in addition to killing over 80,000 people per year through chronic illness, alcohol leads to nearly 60,000 acute deaths (drunk driving, overdoses, suicide) — including more than 4,000 among people between 18 and 24. Please take care with alcohol this festive season….don’t drink and drive: call an Uber or cab! Have a friend or colleague walk you/take you home if you’ve had a wee bit too much….
* In 2022, the 60-to-69-year-old age group represented the largest share of people moving to Florida from other states, according to the data, taken from the U.S. Census Bureau’s American Community Survey. The second-largest age group moving to Florida was people ages 50 to 59.
Courtesy of Stephen Lascher, Wells Fargo
