For the past 53 days, the world has been in a tailspin. Even the sharpest minds I know—people who usually have a solid grip on markets, trends, and global affairs—are shrugging their shoulders. The stock market is cratering, while the price of eggs, gas, and basic goods is soaring.
Some people are thrilled because they think they’re sticking it to “the man” (whoever that is). Most, though, are just stunned, disheartened, and trying to make sense of it all.
The one thing that unites both groups? No one knows what’s coming next.
I tried to keep up, I really did. I analyzed, I read, I debated. But at some point, the mental exhaustion hit, and I made a choice: I wasn’t going to waste energy trying to decode the madness. Instead, I turned my attention to something tangible—real estate.
But even that’s been hard to pin down.
The Manhattan Market: On Fire
For the past few weeks, the Manhattan real estate market has been moving. Properties that had been sitting for ages are finally selling. Buyers who’ve been watching from the sidelines? They’re diving in. Deals are happening fast.
Why? A few theories:
1. Flight from the stock market. Investors are pulling their money and parking it in real estate—something they can actually touch.
2. Pent-up demand. People who’ve been waiting are jumping in, maybe out of fear that things will get worse before they get better.
3. Nesting instinct. When chaos is everywhere, home feels like the only thing we can control. We saw it during Covid, and now it’s happening again. People want stability, even if they have no idea what stability is anymore.
4. A total lack of common sense.
Take Macy’s, for example.
The company is tanking. On paper, it’s worth about $3.8 billion less than its real estate holdings—estimated to be around $6 billion. Someone, somewhere—a REIT, a developer, a hedge fund with vision—will do the math. They’ll see the opportunity.
Imagine this: The world’s largest store at Herald Square converted into the biggest condo project in NYC history. Would anyone even bat an eye? With everything else going on, probably not.
It’s chaos. It’s unpredictable. And right now, the smartest thing anyone can do is pay attention without harming your mental health, and strap in, it’s gonna be a wild ride!
Let’s do this - or do something, or not.
Maybe just - good luck!
Shaun