Happy Holidays!

The Weekly Recap

Good morning and happy Friday! NYC is supposed to be getting walloped by a snow storm starting this afternoon and ending late Saturday. The Metro Card is officially being retired next week as the MTA moves fully to the OMNY system. The US economy had robust 3rd quarter growth with GDP growing 4.3% far outpacing economic projections while major central banks cut rates at the fastest pace in over decade in 2025.

If you missed last weeks newsletter The Great Housing Reset, you can read that through the link.

Happy Holidays!

Happy Holidays to all of you and your families! This section will be back in the beginning of the year with more real estate and economic insights. Hope you have a great end to the year!

Market Performance

Here are how some other indexes and asset classes have performed as of this Wednesday morning’s opening bell.

NYC Market Update

Here is a view of NYC market activity over the past week.

Mortgage Rate Update

The average 30-year fixed-rate mortgage fell again week over week and is almost 70 bps lower than this time last year. The continued downward trend is good news for buyers and sellers alike.

News You Can Use

• Luxury Apartments Are Bringing Down Rents In Some Big Cities Bloomberg

• US Economy Grows by 4.3%, Much More than Expected CNBC

• US Economy Posts Robust Growth Wall Street Journal

• Major Central Banks Deliver Biggest Easing Push in Over a Decade Reuters

• Gold and Silver Hit All Time Highs Bloomberg

• Leading Fed Candidate Hassett Calls Trump Right on Inflation Reuters

• OMNY Makes A Bumpy Landing as MTA Moves to Full Tap to Pay System Gothamist

• NYC to See Post-Christmas Snow Storm Bloomberg

• Touring NYC’s Restaurants, One Neighborhood at a Time Gothamist

The Deep Insight

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Feel free to reach out to discuss more in-depth about your real estate goals, share your thoughts about my newsletter, or to share what you're experiencing in this market. Looking forward to hearing from you!