Roller Skates and Interest Rates
Dear readers,
With the landing of Flippers Los Angeles Roller Boogie Palace at NYC’s own Rockefeller Center- The 1970s are back!
Does that mean 70’s interest rates and gas prices are back too?
Finally: Roller Skating in Manhattan
The dream of the 70’s is alive and well in Rockefeller Center. Flipper’s Roller Boogie Palace, the newest place to roller skate in New York City, is now at The Rink. The famous family owned and operated roller skating rink has made its way to Rockefeller Center, bringing the magic of the 1970s with it. I MIGHT admit that I skated at the infamous Flippers as a wee tyke but that would age me.
Take some time to put your cares aside, pick up some skates, and boogie til you get some kind of fever.
And how ’bout those interest rates?
Skyrocketing inflation and rising interest rates are the talk of the town right now. In real estate there’s endless speculation about whether right now is a great time to buy or sell an apartment- is the Fed trying to put a deep freeze on the housing market?
What a lot of the commentary leaves out though is the relationship between mortgage rates and inflation. Sometimes a cooling off is a good thing to take a bit of air out of an overfilled ballon. If you take a look back into the 70s, you’ll see that home prices tended to significantly outpace inflation, and over the long term evened out:
This is why we tend to think of real estate as a hedge against inflation. As for the interest rates it’ll take to get a mortgage today, remember that fixed-rate mortgage payments are guaranteed to remain the same. The raw dollar amount today will not have the same value as it will tomorrow. 10 year ARMs and even 30 years- though higher than the record lows of recent years– offer security and value when you consider the sound investment long term home ownership is- pay down debt- build equity- establish a lasting, secure home.
NYC, the Hamptons, LA, Aspen, and other prime markets are high demand, low inventory micro-markets, and ensure that if you buy the right property at the right price- it will not only be a home you’ll love- but a smart financial decision.
Featured Listing
165 Charles Street, $8,360,000
Behold breathtaking Hudson River and City views in the Richard Meier masterpiece – 165 Charles Street. Vastly superior to comparable new development in design, location, and purity of protected views. A rare offering- positioned on the most picturesque expanse of the Hudson Promenade- in the premiere line – at the perfect height- of one of the most noteworthy and architecturally significant developments Downtown.
If you’re thinking of buying or selling an apartment in New York City – (or you know someone who is! Pass this on) – keep in mind that this is always a very personal decision, with differing goals and circumstances for everybody.
While I can give you some broad strokes about the market, and some insight based on history and experience, it always helps on an individual level to talk more specifics with someone who’s been around the block. I’m in my 15th year at BHS- and have weathered many domestic and international events with clients with the potential to impact home pricing and values in our market- and believe in the long term view of the enduring value of prime real estate.
Do reach out if you’re curious to see how these market conditions might play out for you and your goals… a shift to a slight buyers market means it’s the time for more buying power…
Definitely reach out, too, if you love the idea of roller skating at Rockefeller Center! First 5 people to respond to this email will get two tickets on me.
Shalom-
~ Mike
Original content from Mike Lubin, Copyright 2021, all rights reserved
