Happy Thanksgiving Weekend!

The Weekly Recap

Good morning and happy Black Friday for those that celebrate! Trump and Mamdani are now BFFL’s after a White House meeting, chances of another rate cut before the end of the year are increasing given Fed governor comments and a flip of a forecast from JPMorgan. US business activity continues to accelerate and NYC lost legendary architect Robert A.M. Stern known for his iconic work at 220 Central Park South, 70 Vestry, Claremont Hall and many others at age 86.

If you missed last weeks newsletter on Has Pricing Peaked and Should You Sell Now, you can read that through the link.

Happy Thanksgiving!

This section will return next week but until then have an amazing time with your families and safe travels! I’m incredibly thankful for all of you and for the opportunity to be your go to source for all things real estate. Your trust in me and our partnership together means more than words can express!

Market Performance

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

NYC Market Update

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

Mortgage Rate Update

Heading into the Thanksgiving holiday, mortgage rates decreased. With pending home sales at the highest level since last November, homebuyer activity continues to show resilience nearing year end.

News You Can Use

• Fed’s Daly Supports December Rate Cuts Citing Labor Market Wall Street Journal

• JPMorgan Flips Forecast, Sees Another Rate Cut in December Bloomberg

• Trump Meets With Mamdani in White House Visit CNBC

• Kevin Hassertt Emerges as Frontrunner in Trump Fed Chair Audition Bloomberg

• US Business Activity Expands At Fastest Pace in Four Months Bloomberg

• Bessent Says There is No Recession Risk Following Cost of Government Shutdown Reuters

• Robert A.M. Stern Prominent NYC Born Architect Dead at 86 NY Post

The Deep Insight

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