Market Update | Feb 01

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

February 01, 2024

01  Tech startup Neuralink owned by Elon Musk has inserted a chip implant into the brain of its first human test subject.....now Elon and Bill Gates can fight it out in my head.....?

(CNBC)

02  "The fact that people are nearshoring more and moving production closer to home is an inflationary force."

03  New listings volume is rising around the US.....in Phoenix it’s up about 24%, year-over-year, Houston 19%, Dallas 12%, Los Angeles 11%, Raleigh 10%, Austin 9%, Orlando 7% and Denver 4%.....is the era of super-tight inventory levels waning?

04  Closets in luxury homes are getting bigger and more expensive, as homeowners look to display increasingly extensive, curated fashion collections. Large closets that used to cost around $60,000-80,000, now are costing $200-300,000 as they grow in size and grandeur.

A recent $1 million closet was a duplex with an elevator and spray-tan booth... chic!  At COMPASS New Development No. 33 Park Row in Manhattan we showcased closets by Ornare, and I’ll admit I was converted.....

(WSJ)

05  Snug rooms are regaining popularity as people recognize the charm of smaller, cozy spaces over large, impractical rooms for everyday use. Originating centuries ago as quiet alcoves in busy British pubs and secluded corners in grand estates, snugs provided a comfortable retreat for activities like sewing, music, and reading. Darker yet cozier than other areas, snugs have been a consistent feature in British interior design, found in various homes, serving as either a small kitchen nook or a secluded spot for peaceful solitude.

(WSJ)