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TV, Videos
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Had a nice chat with Scarlet Fu and Matt Miller on Bloomberg TV, to discuss our 3Q2016 report on the Manhattan residential sales market that I author for Douglas Elliman. We referred to Oshrat Carmiel’s Bloomberg News story on the Manhattan housing market that went viral on the Bloomberg Terminals as the number one read story world wide and the story chart made their “Chart of the Hour” on their home page.
Tags: Bloomberg TV, Scarlet Fu, Matt Miller, Douglas
On the last day of 2015 I was invited to guest host for the 6am hour on Bloomberg TV’s Surveillance with Mike McKee, Vonnie Quinn & Erik Schatzker. I was paired with Michael Holland, Chairman at Holland & Co. I’ve never met him before but really enjoyed his insights on the stock market.
The first segment was largely stock market talk which was out of my bailiwick but in the second segment I got to articulate my views on the New York City super luxury market. Today’s Max Frankel New York Times editorial was brought up – “Make Them Pay For Views” – which I thought was a ridiculous premise – despite the legendary author.
And a second segment talking about professional services used for acquiring assets.
After the hour was up, I ran over to Bloomberg Radio’s Surveillance with Mike McKee (at 33 minute mark) [Listen to clip]
Gotta go. The Spartans are playing in the Cotton Bowl now.
Tags: Bloomberg TV, Erik Schatzker, Bloomberg Radio, Vonnie Quinn, New Development Sales, Super Talls, Mike McKee, guest host, Michael Holland, Max Frankel
I was set to speak in studio with Tom Keene and Pimm Fox but had a commuting snafu and had to call in. It was a great opportunity to show a picture of me as a 15 year old. Love these guys. The best. The Bloomberg Television/Radio are clearly pros and handled the last minute change with ease.
We talked about lots of housing markets and the distortion being created by credit conditions.
Tags: Tom Keene, Pimm Fox, Bloomberg TV, Bloomberg Surveillance, Bloomberg Radio, fundamentals, healthy
I very much enjoyed my interview with Mark Crumpton on Bloomberg TV last week concerning the state of the Manhattan and U.S. housing markets. Our just published market report for Douglas Elliman revealed a number of records int he 2Q 2015 real estate market.
Tags: Bloomberg TV, Mark Crumpton
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TV, Videos
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Always fun to visit with Tom Keene on Bloomberg Surveillance Television – I forgot to post it last week.
Did I tell you I have a lot going on?
It’s a short clip on housing and why we don’t have enough inventory. Bloomberg Intelligence’s Carl Riccadonna spoke along with me – never met him before but he was impressive and best of all, we were in sync.
Tags: Tom Keene, Bloomberg TV, Bloomberg Surveillance, Bloomberg Intelligence, Carl Riccadonna
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TV, Videos
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Was asked to guest host this morning for the 7-8am hour on Bloomberg TV’s Surveillance. Tom Keene, Scarlet Fu and Adam Johnson team up for a must-watch show every morning.
In the first clip we talk Manhattan Luxury market problems and records. In the second clip we banter about the bendable iPhone Plus and housing as an investment. These two articles likely prompted my invite:
NYC Luxury-Condo Buyers Await New Towers as Sales Slow [Bloomberg News]
NYC’s Most Expensive Condo to Be Listed at $130 Million [Bloomberg News]
Tags: Tom Keene, Bloomberg TV, Scarlet Fu, Bloomberg Surveillance, Adam Johnson, iPhone, Apple, Stocks
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TV, Videos
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This morning, I got to join Tom Keene, Adam Johnson and Cristina Alesci on Bloomberg TV’s Surveillance to talk housing for the 6am to 7am hour. Definitely worth getting up at 4am to make into the studio. No, really!
Covered a lot of ground this morning on the show. Here’s another clip.
Tags: Tom Keene, Bloomberg TV, Bloomberg Surveillance, Adam Johnson, Cristina Alesci
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Ian Shepherdson, chief economist at Pantheon Macroeconomics as a guest on Bloomberg Television points out some key issues relating to housing and the economy. It’s a great quick overview on how housing fits into the economic recovery equation. So much for a “soft handoff,” the idea of the housing moving from dependency on low mortgage rate to thriving on a stronger economy. The ideas being projected here are that the economy may improve without housing’s help.
“It is not quite as important as the fed seems to think.” “I sometimes say the fed is almost as obsessed with housing as the labor market.”
“I’m not convinced it is absolutely essential that housing keeps charging upwards in order for the rest of the economy to grow.”
“It’s a relatively small share of gdp now in terms of housing construction and even when you add in the retail stuff related to housing.”
“It is important to sentiment.”
“They were ready to dismiss it as something temporary and clearly the worries are more deeper.”
“Mortgage rates, if they rise further as the economy picks up, housing will be under further pressure.”
“It is a paradox that the stronger the rest of the economy gets and the more worried the market gets about the fed raising rates, the higher 10 year yields will go and mortgage rates and potentially the housing market will get weaker.”
“This is a three or four year process to get back to normal.”
“Housing unfortunately will be a necessary casualty.”
“My guess is that that’s the way the fed’s thinking evolves great if we see the economy strengthening brother that housing is weakening, i think they will have to live with that and stand up and say it’s a price we have to pay in order to get the rest of the economy moving.”
Tags: Tom Keene, Bloomberg TV, Scarlet Fu, Bloomberg Surveillance, Adam Johnson, Ian Shepherdson
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TV, Videos
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Had a great conversation with Tom Keene, Scarlet Fu, Olivia Sterns and guest host Strategas Research Chief Investment Strategist Jason Trennert about the US housing market. We also dabbled a bit in Brooklyn and Manhattan rents and talked NCAA March Madness picks. Always fun to come in and join the Surveillance team.
Go MSU Spartans! Go State!
Tags: Tom Keene, Bloomberg TV, Scarlet Fu, Bloomberg Surveillance, Olivia Sterns, Jason Trennert
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TV, Videos
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Had a great conversation with Trish Regan on her Bloomberg TV show “Street Smart” about the Manhattan and Brooklyn rental markets and rent versus buy. This was in connection with the February Elliman rental report we published earlier that day.
It was windy and 18 degrees outside so I think I look a bit disheveled. But always fun to connect with everyone at Bloomberg whenever I visit (and maintain my Foursquare mayorship of the “green room”).
Tags: Bloomberg TV, Trish Regan, Street Smart
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Public
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Here is an interview I recently did for Bloomberg Television’s In The Loop on the first phase of the long awaited and sorely needed Second Avenue subway line. I had also looked at this data about two years ago.
For the show I crunched closed sales data for the 4th Quarter of 2013 versus the same period in 2009 and provided a similar time frame for the rental market. I defined the impacted subway zone as the Upper East Side neighborhood between Third Avenue and First Avenue extending from 96th Street to 59th Street. Areas out side the zone were simply those to the east and west of it but within the neighborhood. I realize that simply taking the average price of all transactions in each of the zones are subject to skew. However given the large size of the zones, I think it is a reasonable way to extract some sort of impact.
Based on the results, the subway zone fell behind the areas outside the zone during the 4 year time span.
West of Zone
Sales Prices +14.7%
Rental Prices +7.7%
East of Zone
Sales Prices +12.2%
Rental Prices +9.1%
Tags: Bloomberg TV, Second Avenue Subway
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TV, Videos
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Always fun (and refreshing) to talk housing with Tom Keene, Sara Eisen and Scarlet Fu on Bloomberg TV’s Surveillance. I always watch or listen to the show on their apps as part of my morning routine. Got to meet and hear great insights from Jim O’Neill, Bloomberg View columnist and former chairman of Goldman Sachs Asset Management as well.
Did I tell you I am still the mayor of the Bloomberg Cafeteria on Foursquare?
Tags: Case-Shiller, Tom Keene, Sara Eisen, Bloomberg TV, Scarlet Fu, Bloomberg Surveillance, Goldman Sachs, Television, Housing Prices
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Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state and federal courts. He holds the Counselors of Real Estate (CRE) and Certified Relocation Professional (CRP) designations. He is an Appraiser “A” Member of the Real Estate Board of New York and a member of Relocation Appraisers and Consultants, Inc.
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