All Forum Posts by: Joanne Tsai

@Natalie Schanne

I worked in NYC before Covid and live in NJ.

My employer already noted the new normal would be two days on site when pandemic is over. I can’t imagine living 3 hours away when I still need to be in the office at least twice a week.

And yes people who want to climb the corporate ladder and be promoted for better jobs, etc, they will show their face more often than twice a week. Out of sight out of mind. We are a global company, HQ in NYC but has big offices in Philly and FL and TN. trust me, all the executives will be sitting in NYC. If you volunteer to move out to any other satellite offices, kiss your career goodbye.

I bet wall street is somehow similar, they have been relocating their support functions out of states for years and the core will always be in NYC. Are there ibankers in FL hustling? I doubt it.

All that said, it’s truly sad to see the political direction the city is headed. Dirty/dangerous street and homeless people are making once most amazing city unbearable. I for one probably don’t want to live there again till it’s improved. But I felt the same way about SF and hey, their housing price is still shockingly high.

@Josh Edwards

Yes the stock dropped a day with unemployment data and the very next day Yellen came out to call for a more aggressive stimulus. I don’t know how they can ever increase the interest rate with this level of national debt.

But when this 15 dollar minimum wage gets passed and implemented, many people will be out of work and I have to believe these people are either renters or already on section 8. What would happen to these landlords then? Evicting them? Or the government would step in again and pay their rent. Maybe hyper inflation is the only way to get us out of 30 trillion dollar debt.

@Justin Thorpe

Hi Justin,

Do you have any data to suggest that NYC rental activity is up? My tenant is moving out in the summer to TN, I’m contemplating to look for new tenants or to sell it.

Thanks!

@Brian J Allen

Hi Brian,

I’m curious why it is common to have off market deals in Worcester?

The market is hot and many properties get multiple offers, I’d think most sellers would want the price to be bid up.

And when it comes to tenants, how likely one can ask the sellers to deliver it vacant? I heard a lot of tenants are not paying or owing money.

Thanks!

@Justin Thorpe

No, we lived in Albany, which is pretty expensive and has one of the best schools in east bay. And given it’s walkable from Berkeley, people’s houses and cars do get broken in. Main Street is not uncommon to see homeless and needles.

Def not as bad as Berkeley, but why would anyone want to pay and live in a million dollar home and be surrounded by all these type of problems?

@Justin Thorpe

No place is perfect. U get over the thunderstorm in an hour or two but not the crimes and homeless.....

And the shore is nice here in the summer, we lived in the Bay Area, the water there is just too cold even in the summer.

Again, taxes here is insane too, but our school is open and teachers seem to be more diligent too.

@Kyle J.

We packed our bags when my son was about 10 months old and learned to walk. One day he was finding needles on the street and almost attempted to pick them up. I knew I didn’t want to raise him there then.

Not to mention our packages always got stolen on the porch before we came home from work.

The crime and pee and poops were disgusting and we lived in an expensive neighborhood and paid insane amount of taxes.

Now we are in NJ, which also has high taxes and bad government. But we get our packages and often times forget to lock our doors, and def no pees and poops. Once you have lived in CA, you realize you only miss it in the winter. (And we head down to Fl)

@Raj G.

15k on down payment assistance and 10k in student loan. 25k in total for people who can’t save enough for down payment is a big push.

There are plenty of houses which are priced at 100-200k in the country. That’s all they need to get in the market.

@Raj G.

Well, when Biden gives the first time home buyer significant money to buy their first home or forgive student loan, it means people get free money they can actually use to purchase homes even if their income hasn’t increased a dollar.

Once the interest rate starts going up, people’s purchasing power would go down, but I doubt it would happen any time soon.

@John Patterson

Where are the markets you are referring to? I’d be curious to know.

For the markets I’m interested in, there are still on going bidding wars and most of the decent houses reasonably priced go under contract in a matter of a few days......