Laricy

“ LAR I CY ” inventory in the heart of the city and a balanced market is four months, so we have double the market. But it will turn, and I think 2022 will be one of the best years on record for big cities. There’s a lot of talk about migration out of the cities to work from home in suburban areas, but people can be naïve and short-sighted. That’s a big problem with our society in general. You’ve probably read about how the Chicago market’s cooling off and why did this happen out of nowhere? People talk about wanting to work from home, and that’s easy to say right now. But when all your competitors are back to work at an office, it will be difficult to win your share of the market working from home. In 2011, everyone said no one would buy again and we’d be a rental nation for the rest of our lives. And then 2013 hit, and it was “The American dream is back and people are buying again”… I saw the same thing when they said people will never live in the cities again. But I can already see we’re in the beginning stages of people coming back to the cities. Our lives are cyclical, and it’s important to keep perspective with the bigger picture. Like I mentioned before, the international market is going to be a huge thing to watch in the fourth quarter. I’ve only had one international sale all year. I usually do two to three a week, minimum. And guess what… people in China, India, the Middle East, Russia, they like owning real estate. The wealthy have gotten so rich during this pandemic and they want to start buying more real estate. Investing in real estate is a great way to protect it against inflation. So wait until that happens – wait until New York, downtown Los Angeles, all the big cities that got crushed start to see the international markets come back. Personally, I’m excited to see this