MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 4/14/2025 – 4/21/2025

Did You Know?

* Some 4.18 million Americans in 2025 are projected to reach age 65, more than any previous year. (CNBC)

*  Prolonged tariffs could cause a “huge uptick” in short-term sales of used and refurbished devices, especially smartphones,….might they also fuel a new desire to buy ‘used homes’ in lieu of brand newly built ones that will cost more to absorb tariff costs? Could there be a rush on existing new homes?

* Around 50% of the U.S. population lives in the US’s 144 largest counties, while the other 50% lives in 2,998 counties. America’s two biggest counties have the same population as the 14 smallest US states.

* The dollar has devalued around 10% so far this year next to the Euro. As the dollar weakens might foreign investors seek more buying opportunities in the US? I sold a home to a European buyer earlier this year that closed recently…..the cost to that buyer was about 10% lower because of foreign exchange…. (CNBC)

* Some good advice about meetings: 

1. Make sure they have a hard start and end time.

2. Make sure they have a clear purpose. 

3. Organise them so they are only attended by relevant participants.

4. Attendees should ditch their devices entirely.

5. Can what you are meeting about be better served by an email? (FT)

* Advice from Robert Rozenkrantz:

1. Be soft on the people, be hard on the problem.

2. Value your own time, so when you delegate responsibility to people you manage, delegate your authority as well. 

3. Don’t micromanage, and if you find it takes more of your time to supervise an employee than you think it should, you must be willing to find someone else for that role.
4. Think about the most important qualities for the job at hand, and ask unexpected questions that are hard to answer evasively. 

5.  Remind yourself that the interview is a time for perfect concentration on what is in front of you.

“Talk like you speak — get rid of the jargon,”

– Jamie Dimon, JP MORGAN Chase

* In Switzerland you can get 60% loan to value mortgage with a rate below 2% as a foreigner with an EU passport…. they do have a wealth tax, though, which may offset some of this.

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac surged to 6.83% on April 17th, rebounding to the highest in two months after declining for four consecutive weeks. “The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the thirteenth consecutive week. At this time last year, rates reached 7.1% while purchase application demand was 13% lower than it is today, a clear sign that this year’s spring homebuying season is off to a stronger start,” said Sam Khater, Freddie Mac’s Chief Economist.

Source: Freddie Mac