AGENT 1

Feb 4, 20212 min

Super Rich, Super Tall, Super Correction

Q: My partner and I live in a rental in Astoria, Queens, that we love ❀️. It has great light πŸ”¦, a nice layout and is close to the train 🚊. We plan to stay here for at least a few years. We want to make the space feel like our own and less like a generic rental, but we also want to be mindful of the lease πŸ“, making improvements πŸ‘·β€β™‚οΈ that are easily reversible πŸ”™ when we move πŸš›. What are our options?

When economic data goes parabolic ‡️‴️ there is usually a story πŸ“— behind it.

Housing data πŸ”’ tends to be very sticky 🍯, so when housing numbers first fell ⏬ and then went parabolic in 2020, we were witnessing πŸ‘€ one of the most extraordinary swings in data ever recorded πŸ“Ή in human history.

The nearly 1,400-foot tower 🏰 at 432 Park Avenue, briefly the tallest residential building in the world 🌏, was the pinnacle of New York’s πŸ—½ luxury condo boom πŸ’£ half a decade ago, fueled largely by foreign buyers πŸ‡¨πŸ‡³ seeking discretion 😢 and big returns.

Hello? I would like to speak to the manager of the pandemic ☣️ please. I was promised cheap real estate 🏚, goddammit. I was told Covid 🦠 had killed ☠️ cities and nobody wanted to live in them anymore. I was told urban property πŸŒƒ prices would plummet πŸ“‰. Well, it sure seems like someone forgot 🀨 to tell house prices πŸ’Έ. Last time I checked – and I check βœ… multiple times a day – major cities are still majorly unaffordable πŸ₯Ί.

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