Millionaires in the U.S. view real estate as the top alternative asset class to own in 2014, according to a report from Morgan Stanley. Approximately 77 percent of investors with at least $1 million reported owning real estate.
It is far too early in the year to reach definitive conclusions regarding substantive changes in the market, but there are indications of a number of shifts. From the hurly burly on the street, the word is that the quantity of offers coming in on new listings is declining. Where a new listing might have attracted 10 or 12 offers last spring, 3 or 4 are coming in now; where 3 or 4 offers would have arrived, the seller is getting 1.
Consumers are more committed to buying or selling this year, according to Prudential Real Estate's fourth quarter Consumer Outlook Survey. Of the 2,500 consumers surveyed, 78 percent held a favorable view of real estate, a five-point jump from the previous quarter and 15 points higher than at the end of 2012. Sixty-three percent said they were more committed to buying and selling in 2014.
Front page articles in every business magazine in the world, Instagram was a worldwide sensation, with their technology perfectly tuned into the market. With millions of people taking pictures on iPhones, suddenly any amateur could look like a professional photographer. Right time, right product, right offering…perfect in all ways. Right? Read More...