Does A Famous Real Estate Mogul Need To Leave New York For A Market Bounce?

KEY POINTS

  • New York relies on real estate for half of its tax revenue
  • New York City hit by pandemic, with unemployment much higher than the national average
  • Trump suggested he and his wife, Melania, would relocate to Florida

Real estate values in New York City could get a lift if one of its more high-profile occasional residents, President Donald Trump, permanently moves to Florida after he leaves office, real estate agents claimed.

Online news tabloid TMZ reported, without quotes or identifying its sources, that a Trump departure could boost real estate values in New York City. If he does leave the city, as he pledged in October 2019, the tabloid notes that security measures at his buildings would be downgraded and access to the building and surrounding areas would improve.

“If Trump scrams … most, if not all, of that goes away — which our sources say would help

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Real Estate Stock Could Stage Big Bounce Back

The shares of real estate services provider Realogy (RLGY) took a serious breather during yesterday’s session, dropping 13.7% after nabbing an eight-month high of $13.25 earlier in the session. The stock is trying to recover today, up 3.2% at $10.87 at last check, while most of its losses were captured by $10.50 level, which is also home to the equity’s post-bull gap lows and coincides with the recently supportive 50-day moving average. The security also saw support at its 80-day moving average, which has had bullish implications for RLGY in the past.

In fact, according to a study from Schaeffer’s Senior Quantitative Analyst Rocky White, there have been three similar pullbacks to this trendline over the past three years. One month after each signal, RLGY was higher, averaging an impressive 16.2% return. From its current perch, a move of similar magnitude would put the security at $12.63, just shy of

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Mansion Global Daily: Luxury Sales Bounce Back in Florida, Vacation Markets See Increased Demand, and More

Luxury Sales in South Florida Rebounded Sharply, Driving Prices Higher

The median luxury house in Miami sold for $1.94 million, up more than 30% over last year. Read More

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A 3,330-square-foot penthouse with a 2,933-square-foot balcony at the St George’s Mansions project in Kowloon, Hong Kong, has sold for more than HK$238 million (US$31 million). The home was the second-most-expensive deal in the past three months in Hong Kong. The St George’s Mansions project has three 20-story buildings surrounded

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How medical offices will bounce back quick in commercial real estate

The coronavirus pandemic has turned offices across the world dark, giving a clear blow to the commercial real estate sector. The medical office space, despite the sad uptick in serious illness in 2020, has been a surprising struggler, too.

Per a report by commercial brokerage Marcus and Millichap, due to restrictions on things like elective surgeries and non-emergency office visits, healthcare providers in the medical space have seen a dip in revenue streams.

However, Marcus and Millichap sees this as a short-term issue and believe the medical industry will be one of the quickest to bounce back from the pandemic, due to inevitable consumer demand.  

“Medical services are returning as states move through reopening phases, and pent-up demand from postponed procedures and office visits provide a positive outlook,” the report reads.

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