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RE Rundown (8/20/20)

Technology 🤖has always had a close relationship 👩‍❤️‍💋‍👨with real estate as agents leverage it in various forms in their job. However, technology is changing so rapidly ⏩ that what was popular yesterday may not be popular tomorrow. But what technology 🦾trends that exist today will still be around for the next five or ten years?

The Covid-19 🦠 crisis has delivered a stunning gut-punch 👊 to the New York City luxury real-estate market 🌃, applying downward pressure at a rate that surpasses both the 2008 financial crisis 📊 and the period immediately following the 9/11 terrorist attacks. The crisis comes at a time when sales and prices in the luxury market were already under pressure. “It’s not like New York City is all of a sudden on sale. New York has been on sale for the past 24 months.”

WeWork’s embattled ex-CEO Adam Neumann and his wife, Rebekah Paltrow Neumann, are continuing their massive real estate sell-off 💸. The couple, who have kept a low profile since Neumann’s September 2019 ouster from the coworking company 🏢he co-founded, sold their Westchester County estate 🏡 for close to its asking price of $3.39 million. The property is at 69 Girdle Ridge Road in Katonah, NY. Neighbors include Ralph Lauren 🏇 and Martha Stewart 👩‍🍳.

If there were a list of words to describe 2020, “uncertainty” would be near the top 🔝. In every sector and in every community, people are wondering 🙄 what tomorrow holds. Real estate is no different. And in every community, the questions are similar. Has housing peaked 📈? Will interest rates stay low ⬇️? Should I buy, sell, or hold? Will the elections 🏛 affect the market? Is there an opportunity amid the turmoil?



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