Inside the Implosion of SVB
How Silicon Valley Bank, a 40-year-old institution based in California, nearly $175 billion in customer deposits will be placed under the authorities’ control. The lender’s demise is the second-largest bank failure in U.S. history and the largest since the financial crisis in 2008. The debacle raised concerns that other banks could face problems, too. (Listen to The Daily Podcast Episode)
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The Failures Of Silicon Valley And Signature Banks Could Actually Have A Silver Lining For Homebuyers
We had expected mortgage rates to come down to the lower range of 6% sometime in the second half of 2023, but now we may see that level in the coming weeks. The housing sector reacts immediately to changes in mortgage rates. We expect some relief in affordability. ( Full Story)
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Credit Suisse Deal, First Republic, Stock Market News
As these stories continue to unfold, we want to stay on top of it as this affects us all. Here are live updates on some of the biggest stories in the banking fiasco we find ourselves in: The $30B Credit Suisse deal that actually sent the stock tumbling 30%, First Republic is looking for extra cash and weighing sale option and other market news.
(Full Story)
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This week, we hosted our biggest event to date at the newly built One Wall Street: a truly incredible 56-story Art Deco building originally designed by famed architect Ralph Walker in 1931. The transformation is first class in every sense of the word.
In case you missed it, find some highlights on our Instagram here.
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529 West 42nd Street, Unit 7J
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610 West End Avenue, Unit 8D
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357 West 29th Street, Unit 1B
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227 Ocean Parkway, Unit D1
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We are partnering with Block: a home renovation platform that helps you design, plan, and build all in one place. If you are planning a home reno, use Block to get an on-site estimate of costs before you even start. Plus use offer code APKSTEPTXU to get $500 off your materials purchase. Click here for more info.
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© Compass 2023 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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