“That’s really the headline in both the United States and internationally,” says Nelson. Industry observers said that low inventory and sky-high demand account for the surge in prices.īuyers are also becoming more attracted to low-tax areas like Texas and Florida, according to Nelson. In Putnam, the media sale price went from $380,000 in 2020 to $440,000, according to data from the Hudson Gateway Association of Realtors. A single family home in Rockland County that cost $500,000 rose to $560,000 last year. The number of properties sold in neighboring Westchester County rose by 19.1% last year compared to 2020 while Putnam saw an increase of 10.6% versus the previous year. There was a nearly 20% increase in residential sales in Rockland County in 2021 compared to the previous year, according to the Rockland/Westchester Journal News. Though the area did not experience the buying frenzy that was witnessed at the start of the pandemic in 2020, the Lower Hudson Valley continued to report historic gains in real estate transactions last year. The Sotheby’s report quoted one Hudson Valley broker as saying that those who can be designated “good buyers” must be ready to pony up somewhere between $1.5 million to $2.5 million – more than double the previous range of $600,000 – $700,000. Why New Yorkers are fleeing to Texas and Florida in droves That means people are looking as far as the Hudson Valley in New York Trousdale County, which is north of Nashville, Tennessee and Dripping Springs outside of Austin, Texas, where they are willing to put down north of seven figures for a property. Nelson said he expects that trend to continue. In the last 18 months, the COVID-19 pandemic triggered a surge in demand for homes in the exurbs. Of the 1,877 properties that sold at more than $4 million, some 400 of them closed at prices north of $10 million – a figure that competes with the pre-pandemic boom days of nearly a decade ago, according to Bloomberg. The luxury real estate market in Manhattan bounced back last year. The increasing popularity of remote work has sparked demand in larger living spaces far from the city, according to observers. Just how hot is the real estate market? According to Nelson, there were multiple billionaires competing to buy a co-op in New York that listed for $40 million. “The real estate market is now being driven by hybrid work vs. This combination of factors “make investing in a concrete, fixed asset like real estate attractive to many as they balance their portfolios,” Bradley Nelson, Sotheby’s chief marketing officer, told Bloomberg. The luxury real estate boom is being made possible thanks to low interest rates, record-high levels of inflation, and fat bonuses, according to a report by Sotheby’s International Realty. Remote work and a surge of wealth created by cryptocurrency are fueling demand for luxury homes, according to a report. Mansion where Manson murders took place listed for $85M by ‘Full House’ creator Tina Turner and husband buy $76M Swiss estate as a ‘weekend retreat’ “With STRATFI, we’re able to collaborate with the Air Force on the unique requirements and needs for global military missions, ultimately allowing Boom to better satisfy the needs of the Air Force where it uses commercially derived aircraft.Inside John Legend & Chrissy Teigen’s two NYC penthouses listed for $18Mīillioniare Joe Tsai outed as buyer of $190M penthouse “We are proud of the Air Force’s continued support and recognition of Boom’s leadership in supersonic flight,” said Boom CEO Blake Scholl in a statement.
This is the second Air Force investment in Boom. Durrence said he couldn’t forecast how much time the money would save Boom during its development phase. The company said the Air Force’s STRATFI investment will be used for wind-tunnel testing and developing the propulsion system. Boom said the aircraft is designed to run on sustainable aviation fuel (SAF). A flight from New York to London will take 3.5 hours compared to a typical 6.5-hour flight. The Overture is designed to carry 65 to 88 passengers at Mach 1.7 (1300 mph). Boom sees supersonic applications for Air Force missions.