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Affordable housing and its impact on local real estate
We have a severe affordable housing crisis on Long Island and in many cities around the U.S. This began with the historic demand from consumers who had left large cities and towns in combination with the historically low interest rates during the Pandemic, housing prices went through the roof. Before the Pandemic, the market in 2019 had run its course and was cooling off as every cycle has its start and finish. However, once Covid-19 became a serious threat to life, those cities with large populations saw an unprecedented exodus. New York City (lost 328,000 residents), Chicago (lost 91,000), Los Angeles (lost 176,000), and were the top 3 that lost a considerable number of their inhabitants. The top 3 that gained population were Phoenix, AZ (added 78,000 to their population), Atlanta, Ga (increased 43,000), and Miami, Fla (gained 34,000). Prices in those cities and outlying suburbs and areas away from the big cities and towns saw a marked increase in their housing prices.
Rams QB Matthew Stafford Lists Hidden Hills, CA, Home Once Owned by Drake
Los Angeles Rams quarterback Matthew Stafford is selling a Hidden Hills, CA, home he picked up a couple of years ago from rapper Drake. After purchasing the place for $5 million in April 2022, Stafford wants to hand it off to a new owner for $5.7 million. The Super Bowl...
Unlocking the Benefits of Your Home’s Equity
Equity is the difference between what your house is worth and what you still owe on your mortgage. The typical homeowner gained $28,000 over the past year and has a grand total of $305,000 in equity. And there are a lot of great ways you can use that equity. To...
Tiny home surrounded by NYC skyscrapers on market for $7M
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