Eric Adams, Rich With Real Estate, 90% of the Worlds Millionaires Do This

Jarod Salinas-Dick | July 9, 2021

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New and Noteworthy

Real Estate Gets its Mayor: Eric Adams

This week, Eric Adams declared victory in the NYC Mayoral race. His campaign platform calls for “aggressive” housing construction, but he has also blamed development for increasing rents in communities of color, excoriated Brooklyn developers and recommended slashing the height of proposed towers that were opposed by NIMBY groups. See what this new appointment means for real estate and the future of NYC.

Rich With Real Estate & Not Letting Go

The bulk of real estate wealth was long held by the Silent Generation, but aging-in-place Boomers are disrupting this trend. Boomers surpassed the Silent Generation in real estate wealth in 2001, and have yet to yield that position, holding 45% of real estate wealth in 2001 and 44.1% in 2021. Unless a lot more homes are built, and fast, the younger generations will simply have to wait for their share of real estate riches.

90% of the Worlds Millionaires Do This

Over the last two centuries, about 90 percent of the world’s millionaires have been created by investing in real estate. One strategy they implement is called the cash-out refinance strategy which involves replacing your current mortgage with a bigger one, and taking the difference in cash. Of course, there are always risks involved and you should always consult your trusted advisors.

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We Sell When Others Can't

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See how we sold a completely gutted townhouse in Chelsea when no one else could. It had been on the market for over 1000 days before we took over the listing...Then we sold it in 60. Just another example of the creative strategies we implement to get your home sold!

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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.

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Eric Adams, Rich With Real Estate, 90% of the Worlds Millionaires Do This

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FARE Act, Late-Week Retreat, Where’s The Inflation From Tariffs? Just Wait, Economists Say.

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