20 Burst results for "Glenn Kalman"

"glenn kelman" Discussed on CNBC's Fast Money

CNBC's Fast Money

02:12 min | 7 months ago

"glenn kelman" Discussed on CNBC's Fast Money

"Cash to buy direct, generally at a slight discount, the strategy being that homeowners would rather not go through the tedious task of putting the house on the market and then paying a broker commission. The I buyers rehab the home and sell it hopefully at a profit. Now, stocks of other I buyers like open door offer pad and Redfin. Not reacting that much to the news, the CEO of Redfin Glenn kelman told me they've had supply chain issues for years as well and it sometimes limits the number of the number or types of homes they can purchase, but that they are, quote, wide open for business, he said, and a spokesman for open door also is just they too are still open for business. Melissa. All right, Diana, thank you, Dianna olick. Karen just sounds like a Zillow issue. It does, although it sort of curious that the other ones aren't having the same issue. So I mean, I guess I'll take a bit of their word. There was that negative publicity a few weeks ago about them going in buying a bunch of houses in a neighborhood in certain marketing it up. I don't know if that has anything to do with it or really it is a supply issue. Supply chain issue. I remember when they pivoted and went into this business and I thought, wow, that is a big change from an asset light business to have an asset heavy business, but their timing was great. It's been a great business for them. I understand why the stock is down today. It should be assuming that what the problem is is what they say it is and that could be. I believe them with that, but it's a little curious that others don't have the same problem. Yeah. Guy, what are your thoughts on this? Well, Wall Street Journal heard on the street. I mean, they're pretty much said it's as ill specific thing. They said, just poor planning on their part. And the other thing I take away, go back to their earnings release in August, I think. I mean, the price targets I saw post earnings are anywhere between one 25 to one 95. You're going to have to see a lot of analysts, ratchet those price targets down, which means obviously they're behind the curve. But guess what I'm trying to say is the move to the downsides probably not over. I think you can round trip the entire move from last August when it was a $65 stock to where we are now. I think you could see that final ten bucks or so to the downside. Wow. All right, we're just getting started here on fast money. Here's what's coming up next. Our streamer slugfest.

Redfin Glenn kelman Dianna olick Diana Melissa Karen Wall Street Journal
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

02:09 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"Gonna work twelve hours a day if you can't handle it during the holidays you're at the wrong company because this is a company that is driven by customer support people by the holidays. There's no vacation on christmas and over the holidays. We gotta get this done. Whatever she said. And i just that they treated unfairly and i think if it was a male ceo. We'd all be giving high fives. Oh mayo puts the hammer down tells everybody to buck up and work harder. I don't know what we're going to agree to disagree on this one. I think we probably i'd say jayson love you too good. This has been great. Thank you for doing it. I'm glad my lawrence. Let's do it again. I said i'm looking at right now. I know you're pr. People are very like the also there but they get a lot of requests. Even i had to work a little bit here to get this on going to put you on the books for a year from now. Is that okay with you. One year from today i angeles. We'll do it together. We're locking it now. One year from now we're going to do this yearly thing where we check you see the ratings and then decide jason. I here's how it goes. Glad this is how i've always run the show and why it works if i find the conversation interesting i think that's the proxy for the audience. I think it's interesting as a startup founder and angel investor. That's it all right continued success. If you want to own a great stock. Lincoln's say this. I think red vinaigrette stock own. He can't say it. I can and if you want to work at a great company with a great leader who cares about you. That's glenn so go ahead. So i go to redfin dot com slash jobs or careers or careers dot dot com. It's one of those just type in redfin jobs that she said you'll go work for you you. He needs to hire more people. Especially if you're a million dollar agent if you're one of those crazy million It's one of those just type in redfin jobs that she said you'll go work for you you. He needs to hire more people. Especially if you're a million dollar agent if you're one of those crazy million dollar agents sell malibu homes or palo alto homes. Go work with our issues. You're going to appreciate you have a time bye.

jayson mayo angeles jason Lincoln glenn palo alto
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

04:08 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"Tech companies using machine learning algorithms to price the property without having to walk through it it turns out i used to be a little bit old school and to buy a house where human being having walked through it but actually sending the human being through before you make the offer only creates a relationship between the cellar. Where you kinda wanna give a good price. Kaji understand that they're in a jam The machines have been better at pricing out. You still need to make sure. The foundation isn't cracked. The roof doesn't need to be replaced. Sometimes machine you get an inspection but mostly yep houses ward like stocks stock. You can look it up on yahoo and you can see the price of every single stock instantly with housing what it would really trade form was always a little bit of mystery and that mystery has been compressed in its create a lot equality where we're willing to give you an offer within a few seconds of your submitting a request. Just give us the address. We'll crunch the numbers and send you a bit. And so people are doing that because they don't want somebody walking through their house during covert but increasingly. They're doing it just because they don't want to clean up the house every day. You have to five year olds if he were listing your property trying to get them to clean. The room is impossible. So you get more money you get more you get more money. If you list it. You get a little more convenience if you just take the cash offer And just the world is moving toward convenience Not every most people are gonna list but some people are gonna do this this cash off. Okay so you have this massive innovation on one side now to get the controversial topic which i leave always towards the end of the. Maybe you're not gonna hurt my feelings. nobody could. This is my interview technique. I got all the softballs. And then i get into some of the more challenge yourself at the end. 'cause they got you warmed up but i can tell you that because we're friends but also by the way as it note isn't it funny that their investment community like ten years ago when you were struggling and dog fighters try to make advertising where like totally like gave up on your business and now everybody's throwing money at it just ten years later entrepreneur. I don't know john foley very well. And i don't want to pretend that i do but i did go on a run with him once. He's the founder of palestine. I think i have his name rank. And i told him nobody's ever been passed on more than we have. He said that is not true. Stopped running tristar. Coveting yard selling bites which i sell exercise by facebook that it's a social network and yes so many investors were just really wary of going into the real world. The old model was instagram. Thirteen employees billion dollar exit. Everybody would love that. But it's just so hard right now to build an audience. The person who pitched you on an app in florence challenge is an building exercise by hiring real estate agents their challenges that they're gonna be giving forty percent of their revenue to facebook every month. And so it's just really hard to build an audience. And i think also entrepreneurs just wanna go out into the real world that make a difference in the real world Most of the media company plays have been played excited about about it. Well if you think about it. Like what did with tesla and spacex. And then joe you know at airbnb and the travis uber like those companies really were like we'll go into the real world and the funniest story ever like. I'm trying to help. Travis raised the first round the seed around five million dollar valuation for uber literally one of the most prominent investors that you and i both know was like. Can you get him to not do it as a consumer full stack play. Can you get him to sell enterprise software to taxi companies. Because i don't know. Jesus spoke to me at that moment and send the other cheek shaykh. Al and i was going to tell the person your more odd but they were like so famous as an investor..

Kaji john foley yahoo tristar facebook palestine florence airbnb spacex tesla joe Travis Jesus Al
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

03:55 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"Startups will take them here. We'll give tax credits and the cost of living lower. We will get them a visa in under ten days. Just email us. Yeah and i was like. I've never gotten a phone call. From trump's office or from biden has previously. Canada is aggressive. It is the competition right now for towers. What will we've had people get stuck on the wrong side of the border where you employ the chinese national who goes back home and then can't get into the united states to do his job at red fin and so we ended up opening an office in vancouver for that purpose and i know so many other tech companies that are doing that so I guess there's something for everyone of every political stripe in so far there's some liberal policies that work there conservative policies that work. I hope you can be cuticle about it and really pick the best ideas regardless of your politics. Well it is one of the great things about you. Know this is this is a this is a podcast about innovation and start ups. And i think what you're saying is the fifty states in the united states as well as some you know next to us like canada and regions are actually like startups now. And they're innovating and heaven offering for consumers. Those consumers are businesses and citizens and that means two types of real estate. I know you don't work in the commercial real estate space but we have something like fourteen salesforce towers of open office space in san francisco. What is going to happen in commercial real estate in a city like san francisco given that you had massive building of commercial real estate san francisco and at the same time. Work from home appeals most of the companies where they are and nobody including yourself myself wants to live in san francisco. I lived in san francisco. I left it wasn't safe for my family. I wanted more space. And i didn't appreciate the the you know the way it was being run. And so what happens to all that commercial real estate. If you had to speculate first of all. I think san francisco is mostly a safe city. And it's a beautiful city. So i left my own reasons but it's not a rejection of the city. I do wish that they had been more aggressive about solving the housing crisis by building more housing but masson deflationist. What's ahead for commercial real estate because even if you convert some of those buildings into condos. The rationale for living downtown was to be next to twitter or salesforce or whatever your employer was and now when people are working remotely. I don't think they necessarily want to live downtown as much so just looking at the housing market. The housing market for single family homes as you at aria observed has been red hot. The housing market for condos has been less so some of that's about sharing air conditioning or heating system with other people. But mostly it's just about the fact that people have wanted more stays so i don't think that converting commercial real estate into residential is going to solve many problems. I actually my kid is on a soccer team with another kid whose parent holds a owns. The building that red finley says and he was telling me that i know y'all are coming back commercials going to be back bigger than ever just watching the game. Okay fella that's optimistic. I mean being being a great entrepreneur. Isn't it like usual. But that's straight up. Delusional the idea tech companies are going to be able to take people who have left and relocated like you said to a bigger space and to a worked. I mean that's farcical that that will happen in our lifetimes i think. Yeah i mean. Almost every ceo right now is comparing the length of their leases. Because we're all trying to figure out when.

san francisco Canada united states biden trump vancouver masson salesforce red finley twitter soccer
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

03:15 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"When it's a single family home and it becomes a five story. You could have ten units in the place. That was one unit one home. Yeah yeah so. Yeah so you basically have to sell. Listen it doesn't have to be hong kong in manhattan. It could be brooklyn and austin or something like that is there that is doing this. Well that nimby people could look at and say wow. That's another city like brooklyn's one what's or phrase this question differently. What's a city. That is the most pro development in the country or what three cities are the most pro development and have our booming because of it. Who's winning were examples. Yeah so nashville would be an example of a city that is coming because it is so pro. Construction people are voting with their feet. If you're not going to build housing in san francisco. I'm gonna move to nashville. And i actually am a progressive person for the most part but this would be one av experiment where the conservative side has won. Almost everyone is moving to more conservative parts of the country even they personally liberal because we're building housing there. The cost of living is lower there and the taxes are lower there and so some of that is a race to the bottom that they want good schools and good roads paying the taxes. Or they wanna start a company in california and then sell the stock for it in texas which you can take issue with but some of it is about just the fact that i can find a home to buy almost any price because in nashville they are building hand over fist. And so yeah mycenae. What's the next city. After national using curious atlanta would be another. Today's when you go down let me give you. Another tale of two cities is just seattle and vancouver so Vancouver about three hours. North of here. It's in canada. It does actually look a little bit like hong kong. it's been very welcoming. Immigrants and that city has been booming when there was this huge real estate crisis in the united states candidate. Not have that problem. There are plenty of people who wanted to move. Their prices kept going up at a reasonable rate because they have built so much density. And so if you were to compare seattle to vancouver to cities that used to be very similar. There is much more density in vancouver in. It's incredible beautiful. Walkable city of urine urbanism. You love in wonder. I actually went there and i was just like transfixed with how vibrancy it was. This will of sydney another high functioning city by the bay and that is very interesting. The two cities both of them very liberal and then during the trump era correct me. If i'm wrong those four years united states was blocked off for indian or immigrants in large part and canada. I had person very high up in the government said to me. Jake you have people you want for your startups will take them here. We'll give tax credits and the cost of living lower. We will get them a visa in under ten days. Just email us. Yeah and i was like..

nashville brooklyn hong kong manhattan vancouver austin san francisco seattle texas atlanta california Vancouver canada united states sydney Jake government
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

02:40 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"Really saying is we want. We don't want a certain group of people to live here. A person who could afford at twelve hundred dollar studio a fifteen hundred. One bedroom is different than the people can avoid seven thousand dollars a month mortgage on one point five million dollar house. I kind of think. That's what's really. I think people just generally prefer stays and part of what we need to do is just make room for everyone so there will be a little more traffic but then sees good. Yeah you another question with the density. I think what people don't realize in having grown up in new york. When things got more dense the single family homes skyrocketed in value rocketed. So if you built an apartment in if you if you made a six story you know whatever twenty unit apartment complex in an area where there a bunch of single family homes and a bunch of people lived in that not only with those apartments. Become more valuable because you could school districts cetera. All the houses around it would become more coveted. Everybody wanted to be in that area in a way there sir. It's believable author braids. I just think that they haven't squared their brod political aspirations with what they're doing at the neighborhood level to welcome different types of housing different types of people and so the beginning better. What's the best argument to these is. Or is there a great argument titties. Nimby people get them especially these crazy liberal ones to get them to just appreciate more developing the san francisco. Any argument. In your mind that you've ever permeate the nimby ism. I had seen it. I've seen a lot of people switch on this issue. And i think the best argument is that all of your progressive ideals don't square with your antidevelopment stance because everyone has a narrative that i am basically a good person and when you appeal to their good this and we talk about how just one part of their ideology doesn't square with all of their other aspirations. I think evil can change the other argument is that people have manhattan as the model of what they don't want when your hometown brooklyn is probably a better model. You don't have to go up forty stories right next to my house. That's more than forty five minutes shade. That's almost all day. That what about five. What about seven. What about four. That's progress.

new york san francisco manhattan brooklyn
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

02:18 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"So this idea that you could have a working class job and be able to afford. The american dream was still possible in the middle of the country and that as change not over a twenty year period over twenty week period. And it's just a massive disruption and so that's the first thing is just off country yet so we have the pandemic people realized they can work from anywhere big companies paying big salaries to tech workers. Information workers say we want you to come back and then they realize oh wait a second. We are in a presence obama here. That's slicks and apple. Said you have to come back. It's not negotiable. And then the employees were like yeah. You know we're not coming back. I'm going to go work at google or twitter or square. Because jack believes we can work from anywhere and they were like okay. You can work from anywhere. We're not losing our top talent. That's kind of what happened. Which means now people can live anywhere and do that arbitrage three million dollar condo or house in san francisco. A three or four million dollar brownstone in brooklyn now gives way to a million dollar place in austin and you feel like wow a genius and the people in austin are like you paid a million dollars for that. I paid six hundred thousand two years ago. You're an idiot. That's exactly a ratchet. I've seen this over many many moves the people who suddenly get a three car garage and have a bedroom for each kit. Never go back. Even if you're zillionaire you get addicted to the cost of living in texas or florida. I think in florida for everyone. Who's leaving the states. Seven are coming in in texas. It's five and in general for low tax states for every person leaving for are coming and so there's just this great migration and it's also causing political people because san francisco new york seattle have all gone through protests. Black lives matters Issues that have really roiled the social fabric. They want to invest in that in some of them will call you as an entrepreneur. Ceo instead we want you to support higher taxes which is something that i've always been supportive of. But now when they ask. Are you going to leave seattle. They act as if my personal decision matters when really we don't have one office in seattle anymore..

austin san francisco apple obama jack brooklyn twitter florida google texas seattle new york
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

02:39 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"Being on this podcast will change. It will start every once in a while. My twin brother is recognized for people. So you're gonna walk right by me and he'll say glenn and they'll say come on. He's my twin. We just look the same here. There was a lot of reasons why i wanted to have you on the pod. Want to catch up like this. It's always fine but number two so much is going on in real estate and i was so confused by trying to understand the market. I was like who do. I know who's really smart. And i thought glen red fin now. You didn't try to be smart. You didn't come to real estate for background. Like you didn't come to red fin and become and run redfin. Seo from two thousand five to the president because you love real estate you were going to be a doctor and you're going to go to med school this kind of stuff. Yeah but you then figured out. You loved it and you've done a lot of innovative there. Let's start with and we'll get into and all the innovations that have gone on in the space. I wanted to start with. What is your take on. What is going on with the housing crisis. Slash bubble slash appreciation. Because i've never seen anything like this. And i lived through the last bubble the two time when i bought my first house and so just generally people are watching housing prices through the roof people migrating. I don't get the senate. A lot of people in our circles are selling their original home. they're just buying a secondhand sitting on the first one because it's appreciating faster than the stock market which then is screwing with supply. Tell us everything from where you sit because you have the data where to start. I think there are two trends and wanted. The chickens are coming home to roost in the other is that the dam is broken. You've definitely spoken to that second trend. Which is that all this money built up. In san francisco new york everyone in pittsburgh tulsa oklahoma were talking about how they create silicon valley wherever they were and we never thought they would but now they finally have and so. I think it's actually good for the country. That technology expertise professional classes can live anywhere. But it does create these social disruption. People moving to nashville are paying nearly vice as much as the folks who live there for home they come in with monopoly money from new york or california and they sent home prices shooting through the roof and the reason that those prices have continued to go up. Is the insane francisco when prices went up. It just reached a natural limit. But for someone. Moving to boise idaho. You can pay three times as much and you're still sending less than a million dollars for house so it feels so cheap. It's just that the people who started in boise are suddenly priced out of the market..

glen red glenn Seo senate tulsa new york pittsburgh oklahoma san francisco nashville california boise francisco idaho
"glenn kelman" Discussed on This Week in Startups

This Week in Startups

03:01 min | 10 months ago

"glenn kelman" Discussed on This Week in Startups

"This is an interview with my friend. Glenn redford good to see who. It's going to be a kind of different interview. We're starting from wherever catching up with each other. I'm in florence. He's in seattle u. r. seattle seattle. And we've been friends for over a decade guess. We met at sequoia back in the day. I guess and you were at war. I just want all of your investors to know that i got into a funk with my investors and i talked to you because i thought about quitting. I didn't know what to do. And i was being totally dysfunctional. And you told me to grow up and to grow a pair which did and it was some of the best advice i've ever gotten so whenever you asked me to be on this podcast course i have to say yes and it's also just a lot of fun. It's like that scene in the godfather. He comes godfather godfather part. Because you can stop by acting like a man. Not big enough slimy around a little juice. I basically tough love but to your question. I always tell people in this pockets if you see me on the street even from my family. It's no big deal to say. How love the pod. If you wanna tell me an episode or a gas you love. Oh i love soccer. I love glenn. I love this person. The part that even makes me feel better. Because i know you're legit fan. The only thing. I do ask is. Don't be weird like somebody sat next to be in a restaurant and at the end of dinner. And i had a whole conversation with my fiance now wife at the time for and half in new york and the person next to me at the end. I love the podcast. I love the show just like oh man overheard covers did you say what did i just say exa. That's exactly what i was thinking. Second the other one. That's happened multiple times. They you what would be the most inappropriate time to pitch an angel investor. Think that's true. How draken your expressing with when you're losing it with your kids. That would be terrible if i'm like trying to Get the kids you know to behave. That would be actually worse than what i was thinking at the urinal i've been pitching why times a year. No i this audit commander. Dig your only sacred glenn. That's more time to just be. There wish looked one reflect and get really done relief. It's just about the release. And i you know and i already have a hard enough time in a public bathroom. Get started you know. Every man has a little bit of that logo. I thought you were the one person courage enough to always let it go all right. Usually i would but it kind of breaks your flow when somebody starts pitching you and you're starting to just get going. It kind of puts a breaks the flow. Leave it at that. I wanted to you. You lead an entirely different light than i do. I have never once in recognized anywhere. Maybe.

seattle Glenn redford sequoia florence glenn soccer new york
Why The Housing Market Is Booming In A Bad Economy

The Indicator from Planet Money

04:13 min | 1 year ago

Why The Housing Market Is Booming In A Bad Economy

"Glenn kelman has been the ceo of redfin for fifteen years and he says for all that time people looking for a home always put this one thing as their top priority rich poor urban rural people buying homes always had this one big question. What about the commute. The commute to work. Yes it's the old real estate mantra right of time immemorial location location location and most of the time. Those locations were big cities. Were most of the jobs were concentrated and as a result buying home in these cities had become kind of blood sport. The new york real estate market the san francisco real estate market. These were insane markets where there were bidding wars with twenty thirty forty buyers glimpses smaller cities rural areas. Were just a different world. In fact over the last few years housing sales had been a little sluggish and there was a bunch of speculation. About why millennials weren't buying houses. And what was going on. Yeah that has changed. The national association of realtors announced that from may to june just as the covid nineteen crisis was bearing down on businesses and millions of people were losing their jobs pending home. Sales rose more than sixteen percent. That's the biggest monthly rise on record. That is crazy to me because you know like in every five americans is on unemployment like i. It's like blowing my mind that homeownership rates might also be going up or that there's kind of a real estate boom but it sounds like there is well. It's white collar professionals who are able to work from home in some ways. This is a sign that the economy is just officially split in two. You have people who are worried about unemployment benefits running out and at the same time you have other people who are able to work from home and thinking about the home all the time and that's where they want to spend their money. These are the people who are really benefiting now because even if the economy is going through a crisis for them it's not crisis just sale. Glenn says that for the people who were lucky enough to have kept their jobs. A huge number of them are working from home now. And that's changed everything the traffic to listings that are in towns with populations of less than fifty thousand people is up eighty seven percent in other words. It's no longer location location location. It's more like space space space. And glenn says he's also seeing a big migration of people out of big cities like new york l. a. chicago and san francisco to smaller cities. Like palm springs tucson austin grand rapids and nashville and tiny san francisco and new york apartments. That used to have forty people. In a bidding war people have been leaving those places in droves tanya zapata and her husband moved to san francisco about seven years ago at the time they got one of those overpriced apartments in san francisco but a couple of months ago tanya and her husband noticed that a lot of people were moving out of their high rise. I started seeing a lot of people moving out of the building and tiny and her husband started to think maybe they have the right idea and they started looking around on the internet and then one day my husband saw this house and not by which is in the middle of vineyard and and the house is so beautiful because you have been yards all around the house It has space with fruit trees and also Raised beds for for growing your own vegetables. So we were like this is amazing. Go to napa. The house was not cheap. In fact it was about twice the rent that they were paying in san francisco but it had more than three times. The amount of space also their parents could move in with them. They had this big yard and all this land for their daughter to run around. Glenn kelman ceo redfin. He says people are making tania's calculation every day now paying the same amount of money that they're paying city but getting way more space for example he is seeing a lot of requests for extra bedrooms for parents and grandparents and requests for extra rooms for offices and home gyms

Glenn Kelman San Francisco Redfin New York National Association Of Realto Tanya Zapata Glenn Middle Of Vineyard Palm Springs Grand Rapids Tucson Nashville Tanya Austin Chicago Napa Tania
"glenn kelman" Discussed on KQED Radio

KQED Radio

03:25 min | 1 year ago

"glenn kelman" Discussed on KQED Radio

"His community led, restorative and racially just Learn more at public welfare dot org's It's morning edition from NPR news. I'm Steve Inskeep, and I'm no well, king. So if you look at the state of the economy, you might assume that the housing market is a mess. That, though, is not true. Stacy Vanik Smith in Cardiff Garcia, who host our podcast, the indicator talked to the CEO of Redfin about a surprising housing boom. Glenn Kelman has been the CEO of Redfin for 15 years. And he says, for all that time, people looking for a home always but this one thing as their top priority. What about the commute the commute to work? Yes, it's old realestate mantra Right of time immemorial, location, location, location, and most of the time those locations were big cities where most of the jobs were concentrated. And as a result, buying home in these cities had become a kind of blood sports, The New York real estate market, the San Francisco real estate market, These were in saying markets cleanses smaller cities, rural areas, We're just a different world. In fact, over the last few years, housing sales have been a little sluggish. Yeah, that has changed. National Association of Realtors announced last week that from May to June just is a covert 19 crisis was bearing down on businesses and millions of people were losing their jobs. Pending home sales rose more than 16%. That's the biggest monthly rise on record. That is crazy to me, because you know, like one in every five Americans on unemployment, like it's like blowing my mind that homeownership rates might also be going up that there's a kind of a really ST boom, but it sounds like there is Well, it's white collar professionals were able to work from home. In some ways. This is a sign that the economy is just officially split into. You have people who are worried about unemployment benefits running out and at the same time. You have other people who are able to work from home and thinking about the home all the time, and that's where they want to spend their money. Glenn says that for the people who were lucky enough to have kept their jobs A huge number of them are working from home now, so they're asking the question. Well, why do I have to live close to the office? Why can't I live near family? Why kind of live in a place that's more affordable. That's changed everything. The traffic to listings that Aaron towns with populations of less than 50,000 people is up 87%. In other words, it's no longer location, location location. It's more like space space space. Glenn says, for example, that he's seeing a lot of requests for extra bedrooms for parents and grand parents, and he's seeing a lot of requests for extra rooms for offices and home gyms. I think some of this is just that people are thinking more about their home. And some of it is that they could finally live wherever they want, without asking their boss and Glenn says he's also seeing a big migration of people out of big cities like New York, Chicago in San Francisco to smaller cities like Palm Springs, Tucson, Austin, Grand Rapids in Nashville, and those tiny San Francisco and New York apartments that had people in a bidding war. People are leaving those apartments in droves. Stacy Vanek, Smith Cardiff Garcia NPR news Support for Planet money comes from progressive insurance committed to offering a streamline.

Glenn Kelman San Francisco Steve Inskeep NPR New York National Association of Realto Stacy Vanik Smith CEO Redfin Stacy Vanek Palm Springs Garcia Grand Rapids Tucson Chicago Nashville Austin
"glenn kelman" Discussed on KQED Radio

KQED Radio

03:28 min | 1 year ago

"glenn kelman" Discussed on KQED Radio

"Clients to develop flexible investment strategies that can evolve as their needs change. Learn more fidelity dot com slash well, Fidelity Brokerage Services LLC. It's morning edition from NPR news. I'm Steve Inskeep, and I'm no. Well, king. So if you look at the state of the economy, you might assume that the housing market is a mess. That, though, is not true. Stacy Vanik Smith in Cardiff Garcia, who host our podcast, the indicator talked to the CEO of Redfin about a surprising housing boom. Glenn Kelman has been the CEO of Redfin for 15 years. And he says, for all that time, people looking for a home always with this one thing as their top priority. What about the commute the commute to work? Yes, it's old real estate mantra. Right of time immemorial, location, location, location, and most of the time those locations were big cities where most of the jobs were concentrated. And as a result, buying home in the cities had become a kind of blood sports, The New York real estate market, the San Francisco real estate market, These were insane markets cleanses smaller cities, rural areas, We're just a different world. In fact, over the last few years, housing sales have been a little sluggish. Yeah, that has changed. National Association of Realtors announced last week that from May to June just is a covert 19 crisis was bearing down on businesses and millions of people were losing their jobs. Pending home sales rose more than 16%. That's the biggest monthly rise on record. That is crazy to me, because you know, like one in every five Americans on unemployment, like it's like blowing my mind that homeownership rates might also be going up there that there's a kind of a really ST boom, but it sounds like there is Well, it's white collar professionals were able to work from home. In some ways. This is a sign that the economy is just officially split into. You have people who are worried about unemployment benefits running out and at the same time. Have other people who are able to work from home and thinking about the home all the time, and that's where they want to spend their money. Glenn says that for the people who were lucky enough to have kept their jobs, the huge number of them are working from home now, so they're asking the question. Well, why do I have to live close to the office? Why can't I live near family? Why kind of live in a place that's more affordable? That's changed everything the traffic to listings that Aaron Towns with populations of less than 50,000 people is up 87%. In other words, it's no longer location, location location. It's more like space space space. Glenn says, for example, that he is seeing a lot of requests for extra bedrooms for parents and grand parents. And he's seeing a lot of requests for extra rooms for offices and home gyms. I think some of this is just that people are thinking more about their home. And some of it is that they could finally live wherever they want without asking their boss and Glenn says he's also seeing a big migration of people out of big cities like New York, Chicago in San Francisco. Two smaller cities like Palm Springs, Tucson, Austin, Grand Rapids in Nashville, and those tiny San Francisco and New York apartments that had people in a bidding war. People are leaving those apartments in droves. Stacy Vanek, Smith Cardiff Garcia NPR news Support for Planet money comes from progressive insurance committed to offering a streamline.

Glenn Kelman Steve Inskeep San Francisco Fidelity Brokerage Services LL NPR New York National Association of Realto Redfin CEO Stacy Vanik Smith Stacy Vanek Palm Springs Aaron Towns Garcia Grand Rapids Tucson Chicago
"glenn kelman" Discussed on KCRW

KCRW

03:20 min | 1 year ago

"glenn kelman" Discussed on KCRW

"Morning edition from NPR news. I'm Steve Inskeep, and I'm no well, king. So if you look at the state of the economy, you might assume that the housing market is a mess. That, though, is not true. Stacy Vanik Smith in Cardiff Garcia, who host our podcast, the indicator talked to the CEO of Redfin about a surprising housing boom. Glenn Kelman has been the CEO of Redfin for 15 years. And he says for all that time, people looking for a home always put this one thing as their top priority. What about the commute The commute to work? Yes, it's the old realestate mantra. Right of time. Immemorial, location, location, location. Yeah, and most of the time, those locations were big cities where most of the jobs were concentrated. And as a result, buying home in these cities had become a kind of blood sports, The New York real estate market, the San Francisco real estate market, These were insane markets cleanses smaller cities, rural areas, We're just a different world. In fact, over the last few years, housing sales have been a little sluggish. Yeah, that has changed. National Association of Realtors announced last week that from May to June just is a covert 19 crisis was bearing down on businesses and millions of people were losing their jobs. Pending home sales rose more than 16%. That's the biggest monthly rise on record. That is crazy to me, because you know, like one in every five Americans on unemployment, like it's like blowing my mind that homeownership rates might also be going up there that there's a kind of a really ST boom, but it sounds like there is Well, it's white collar professionals were able to work from home. In some ways. This is a sign that the economy has just officially split into. You have people who are worried about unemployment benefits running out and at the same time. Have other people who are able to work from home and thinking about the home all the time, and that's where they want to spend their money. Glenn says that for the people who were lucky enough to have kept their jobs A huge number of them are working from home now, so they're asking the question. Well, why do I have to live close to the office? Why can't I live near family? Why kind of live in a place that's more affordable, And that's changed everything. The traffic to listings that Aaron towns with populations of less than 50,000 people is up 87%. In other words, it's no longer location, location location. It's more like space space space. Glenn says, for example, that he is seeing a lot of requests for extra bedrooms for parents and grand parents. And he's seeing a lot of requests for extra rooms for offices and home gyms. I think some of this is just that people are thinking more about their home. And some of it is that they could finally live wherever they want, without asking their boss and Glenn says he's also seeing a big migration of people out of big cities like New York L. A Chicago in San Francisco to smaller cities like Palm Springs, Tucson, Austin, Grand Rapids in Nashville, and those tiny San Francisco and New York apartments that had people in a bidding war. People are leaving those apartments in droves. Stacy Vanek, Smith Cardiff Garcia NPR news Support for Planet money comes from progressive insurance committed to offering a streamline shopping experience where home and auto.

Glenn Kelman San Francisco Steve Inskeep NPR New York CEO Redfin Stacy Vanik Smith National Association of Realto Stacy Vanek Palm Springs Garcia Grand Rapids Tucson Chicago Nashville Austin
"glenn kelman" Discussed on KOMO

KOMO

01:42 min | 2 years ago

"glenn kelman" Discussed on KOMO

"Shift in where many Seattle workers choose to live at least that's the prediction from a local real estate executive we get more from Carlos Corwin hate we've told you companies whose workers have successfully telecommuters during the crisis or allowing those workers to continue working remotely into the fall now Glenn Kelman chief executive of Seattle based redfin envisions an exodus of office workers away from big cities to smaller communities for people of the San Francisco New York and even Seattle some for nearby towns like Sacramento into coma that are close enough to support a week the offices that others for a completely remote live in Charleston Boise both mentor Madison Kelman spoke during his company's quarterly earnings call saying the trend toward telecommuting from smaller cities had already begun before the pandemic struck inspired by the crisis in housing affordability now more permissive policies around remote work and rising wariness about close quarters will likely accelerate that trend redfin tells geekwire during the week ending may first page views four houses in towns with fewer than fifty thousand people were up one hundred five percent compared to the same period last year Corwin hake komo news what would it be like to spend twenty six days in a hospital with covert nineteen Brian Edwards knows he's the Pierce county man who got to wake up in his own bed today after recovering from the virus twenty six days much of the time on a ventilator or in a medically induced coma or both now that he's recovered he has some advice for the rest of us your maps they say six this is really his wife Tammy believes both the antibodies he received and the drug room disappear helped.

executive chief executive Seattle New York Sacramento Charleston Boise redfin Brian Edwards coma Tammy Carlos Corwin Glenn Kelman San Francisco Madison Kelman Corwin hake
"glenn kelman" Discussed on KCRW

KCRW

08:13 min | 3 years ago

"glenn kelman" Discussed on KCRW

"Well right now, we have a Sigler on the eastbound sixty at Downey road and east L A crashes blocking the off ramp and things are stuff and go from the ten Culver city northbound four zero five before national crash has been cleared from the carpool lane. But you're still backed up from well before Culver boulevard artifacts, appreciate it right now. It's eighty degrees in. Pasadena eighty four in Santa Clarita at five thirty five at KCRW. This is all things considered from NPR news. I'm Ari Shapiro in New York. And I'm Audie Cornish in Washington. President Trump is preparing to me Charlie with Chinese president Xi Jinping. It's a high stakes sit down at the conclusion of G twenty summit with leaders of the world's biggest economies in Japan. Trump is also extending a surprise invitation to North Korean leader. Kim jon. He floated the idea of an impromptu handshake meeting this weekend at the demilitarized zone dividing north and South Korea. NPR Scott Horsely joins us now from Osaka Japan and Scott, let's start with that meeting with she Jimmy. It's one of the most consequential at this g twenty summit would we expect audio lot of handicappers are betting that Trump. And she will declare kind of ceasefire in their trade war, they would leave the existing tariffs in place, but Trump would hold off, imposing additional tariffs while the two sides back to the bargaining table. In fact, there was a report in the South China Morning post that Trump had promised that bargain in order to get she too. Attend this meeting that Trump is insisting there was no such promise. He says the outcome of the meeting is still up in the air. Always the promoter of the president has urged people with an interest in the trade talks. And of course, that's a lot of people to stay tuned. Exciting. The world day. A lot of people are talking about it, and very interesting. Hopefully for both countries. Now we know from Japan. The president is heading to South Korea and we're getting some hints about what could be in store there. But what more have you learned? Trump was set to meet this weekend with South Korean president, moon. Diane, and of course North Korea was going to be a major focus of that meeting talks aimed at ending North Korea's outlawed nuclear program broke off back in February. Although in recent days, Trump has exchanged messages with North Korean leader. Kim Jong Hoon? There is a lot of unscheduled time during the president's visit to South Korea, and there had been speculation that the president might try to visit the demilitarized zone he tried to get their back in two thousand seventeen and was unable to land because of bad weather. Trump all confirm those plans short time ago when he tweeted that he would like to meet the North Korean leader in the DMZ just to shake his hand Trump's at and say Hello. Now, the tweet suggested this was a last minute invitation. Trump preface it by saying, if chairman Kim sees this, he told reporters, he only thought the invite just this morning. I just put out a feeler. I don't know where he is right now. You may not be North Korea. But I said, if, if chairman Kim would want to meet ABI at the border at Sidley. We seem to get along very well. Now audience possible. There is actually more preparation behind this invite in the president's leading on, but Trump is certainly giving the impression that all of this is improvised, the kind of unpredictable seat of the pants deal making that the president championed in the business world. And which he is now trying to apply the diplomatic world. We'll continue to keep an eye on that angle of this. But I also wanna move on to another meeting because the president met this morning with the crown prince of Saudi Arabia, and the timing of that, frankly, people are looking at his awkward. That's right. It comes just days after the United Nations called for sanctions against the crown prince over the killing of Washington Post columnist Jamal kashogi now both the president and the crown prince Mohammad bin Salman ignored reporters shouted questions about kashogi this morning. Instead, the president focused as he often does on Saudi Arabia's role as a major buyer of weapons from the United States, and the jobs that creates back home, now, those weapons sales have become. A bone of contention some lawmakers in both parties have complained that U S weapons are contributing to a humanitarian crisis in Saudi Arabia's neighbor Yemen. But Trump is maintaining his steadfast support for the Saudis touted the country's efforts to fight terrorism, for example, and he downplays the Saudis own role in regional troublemaking. That's NPR's, Scott Horsely Scott, thanks. You're welcome. In some parts of the country, people who want to sell their home. Have new option. They can go online type up a few details about their house and sell their home to a big company for cash. Jacob Goldstein from our planet money podcast explains why this is happening and what it reveals about changes in the global economy in the past few years. Several big companies have jumped into the business of paying cash for houses. There's Zillow which is known for online housing listings. There's a startup called open door that bought around ten thousand houses last year. Also red fin this big sort of hybrid tech company real estate. Brokerage Glenn Kelman is red fin CEO. And he told me about the first time an executive at his company suggested that red fin get into the business of buying houses, and then you know what I said, I'm too chicken. I won't do it. Of course, he's chicken, he would have to put hundreds of millions of dollars on the line betting that Redfin could buy houses turnaround, and quickly sell them for a small profit. This is legitimate. Terrifying, but Kellman told me that legitimate tear notwithstanding. There were these three big changes that finally persuaded him a bunch of other companies to get into this business. The first is that people who sell houses through red fin are having time getting the money fast enough to buy their next place. In other words, you're selling your house. You want to buy a new house, but since the financial crisis, it's been a lot harder to get a mortgage for the new house before you sold your old house. So there is this new group of people who can afford to make a move, but they just can't make the financing work. That is changed. Number one change. Number two, is technological companies like red fin started building, these algorithms, that are really good at estimating home prices. And then change number three is about finance investors all around the world started throwing gobs of money at tech companies. It was so much money in fact, and it seemed so easy to get that, it evens apprised, Glenn Kelman, who is the. CEO of tech company red fin got a call from somebody representing Saudi Arabia money. You're Kuwaiti money, and then he said, I've got a problem, I have all this money, and I need to deploy it, and he just wanted to give it to us. And that's when I felt like something really deep and fundamental was changing in the global economy. So tech companies that have built algorithms to estimate home prices are now flush with money and can use that money to start buying houses from home sellers, who need money. The companies are mostly buying moderately priced homes and subdivisions with lots of identical houses. So if you live in a house like that you can go online, enter some details, about your house, and in a few hours, a day, get a cash offer from red, fin or one of its competitors who then have an inspector confirmed that the houses in decent shape. It's fast and easy, but there is a trade off you probably will wind up getting a few percent less than if you sold your house with. Traditional real estate agent Telman says he can imagine that something like ten percent of people might someday sell their homes this way. And that is enough to be a little bit scary. I think it's a new thing in the economy. And if I had to pick people to make prudent bets at the casino tables tech people wouldn't be that. And so that's what I remind myself would not would not would not. Yeah. And I just remind myself every night if you look at the history of subprime, you see people making a ton of money in that space and other players getting drawn into it one by one, and it proved to be their demise. Because you chase profits. You follow the customer over a cliff and aware trying.

President Trump president Saudi Arabia South Korea North Korea Trump Japan Glenn Kelman Scott Horsely Scott NPR Audie Cornish Ari Shapiro Kim Culver Culver boulevard chairman Xi Jinping
How will the tech IPO boom change Bay Area real estate?

Marketplace Tech with Molly Wood

04:05 min | 3 years ago

How will the tech IPO boom change Bay Area real estate?

"You have heard that tech IPO's are blooming like wildflowers the spring lift interest. Uber's doom slack and more. Coming almost all of them headquartered in the San Francisco Bay area, which is already among the least affordable places in the country. And a lot of early employees of these companies are about to make a bunch of money on their stock options. So in a place where the median home price is eight hundred and thirty thousand dollars. What's all that wealth gonna do to housing prices? Glenn Kelman is CEO of red fin a real estate company that offers both brokered services and data. I asked him what kind of data? He has about. What's coming dread? Fin agents are working with some of these people who are borrowing money against stock. That's still locked up to be able to buy that house. So we're starting to see lender say even if you can't sell the stock because you have to wait six months after an IPO where willing to loan you the money because we think that that is going to pay off. So those are some of the numbers we look at. We think the ultimate effect on prices is going to be probably three point acceleration in home prices. And if you look at when Facebook, Twitter and Lincoln went public a few years ago, take the normal price appreciation and at about three points to it. So it's not overwhelming. It's not as if home prices are going to double in one year, but it is a significant effect. I mean, obviously, this is not normal. Right. It's the sort of a combination of the number of companies concentrated in one area, the valuations and the way these companies pay their employees. Well, normally, you wouldn't see so many companies go public all in one place. I think the way must communists look at housing say measure, it's affordability by looking at the ratio of the home price to wages, but that has completely been unhinged in the bay area. The reason that place breaks all the laws of physics is. Because it doesn't matter what your salary is. You're using your stock to buy a house and that stock is shooting through the roof. It sounds like normally if there were a bunch of tech IPO's, there would be a sort of sense of euphoria, maybe maybe among real estate agents in San Francisco, let's say, but it sounds like you're saying that may not be the case here. Yes. I think that stockbrokers and jewelers and people who sell expensive cars are very excited about this. But real estate patients. Feel maybe a sense of dread that the bidding wars we've become accustomed to are going to go to a whole new level. And the reason that's so is because you can make more jewels and cars, but houses there only a limited number of single family homes in San Francisco people are commuting two hours to teach at a school to perform some other middle class job. And we're not building the housing to let this people live near where they work. Sounds a little bit like wishful thinking as a renter in the bay area. But what extent is this cyclical like will San Francisco or even Oakland eventually have to become more affordable by default? The laws of supply and demand are already a work. That's why people are renting you halls and driving to Oregon. So I do think that at some point when houses get too expensive price increases will ameliorate. I think in some ways whenever there's a huge tech rally. You always have some karma geon saying, well that bubble's gonna burst. And I think some of the people who are advocates for Ford -able housing for middle-class housing are leading the charge this time. I don't know if I wanna characterize myself as a promotion, but I left San Francisco to run red fin fourteen years ago, and I always planned to come back. And what am I kids? The other day said if we ever came back, do you think we could

San Francisco San Francisco Bay Glenn Kelman Facebook CEO Ford Twitter Oregon Lincoln Oakland Thirty Thousand Dollars Fourteen Years Six Months Two Hours One Year
"glenn kelman" Discussed on WMAL 630AM

WMAL 630AM

01:31 min | 3 years ago

"glenn kelman" Discussed on WMAL 630AM

"A pro the offer is straight ahead right after we check in with Phil Thompson in the real estate today. Newsroom. Tie bill. Hi, Stephen falling. Mortgage rates will bring up more buyers this spring so says the CEO of Redfin. Glenn Kelman people have been on a knife edge about whether they can afford a house and lower mortgage rates mean more buyers. It has had an unusual effect. There's almost no slack in the system because wages haven't kept up with home. Prices. People are having to borrow the money. And when it gets easier to do that we see more buyers so demand on the buy side is very strong. But Gilman also said on CNBC that we're still not seeing as many people putting their homes up for sale. He says could create some price pressure home sales in southern California continued to languish they've now fallen for seven straight months. But the Los Angeles Times reports that broker say the recent drop in mortgage rates is bringing buyers back realtor Joshua Oltman of Bravo's million dollar listing. LA told Yahoo finance I think there's going to be a lot of amazing opportunities for buyers over the next twenty four months, including myself because I'm an investor in real estate. There's still big money coming in. I mean, every time you think the market slowing someone goes and dropped sixty or seventy million dollars on a house. We're back says, quote, it's going to be an interesting year. Coming up in half an hour. How companies going public could lift home prices. Even further in the bay area seemed back to you. Thanks bill. Continuing now with our special show, the offer.

Gilman Joshua Oltman Glenn Kelman Phil Thompson bill Los Angeles Times CEO Stephen Redfin CNBC LA California Bravo Yahoo seventy million dollars twenty four months million dollar
"glenn kelman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:25 min | 3 years ago

"glenn kelman" Discussed on Bloomberg Radio New York

"It is nine thirty AM in Hong Kong in here in Singapore on Juliette saly and Bryan Curtis. Just getting these see the consumer price data and data out of China will get details with Doug krizner in just a moment. Looks like the numbers a little bit worse than expected and also wanted to mention that the u on is weakening a little bit here this morning, six seventy eight forty Steven Englander was on the program earlier this morning, and he's basically saying that traders to pessimistic on China's economy that could benefit you on. We'll get to the markets, and we'll take a look now at the top stories well Amazon backing out of plans for headquarters in Long Island, city queens sets after plans. Ignited a firestorm of criticism from local politicians activists. Glenn Kelman, president of real estate data company. Redfin. Says the development. This is a warning sign to tech companies. It's a wakeup call to all of us in tech that we really have to think about how we treat our workers at how we're perceived by the general public because we're not necessarily going to be welcomed everywhere, we go anymore governor Andrew Cuomo and to New York City mayor Bill de Blasio underestimated, how an anti-corporate message from freshman congresswoman, Alexandria coaches, and others would take brute so deeply and so quickly, and we're watching the developments on U S, China trade. China's president Xi Jinping is expected to meet with Treasury Secretary, Steven Mnuchin and US Trade Representative Robert lighthizer today in Beijing, Bloomberg has been told that the two sides are far apart on key issues, including Chinese government subsidies for state-owned enterprises. President Trump is considering extending the March first deadline for higher tariffs on Chinese goods. By about two months. We'll and financial is taking a giant. Step overseas a year after a plan. US expansion was showed that Chinese financial services giant is making an equity in the UK. We get more from Bloomberg's Yvonne man and as London based payments company world, I the company controlled by billionaire, Jack Ma says this could allow Ed to better serve smaller, businesses worldwide, and is an affiliate of Alibaba and serves hundreds of millions of customers for services, including micro transactions and wealth management. It's seeking to expand abroad competition with ten cents heats at home. It was forced to scrap a plan to merge with Texas based money Graham last year after objections from US security panel. In Hong Kong, I'm Yvonne man, Bloomberg daybreak Asia Canada, goose holding says it's happy with its business in China and is not worried about trade tensions. Bloomberg's Rishaad Salamat has more. Remember, the Canada goose boycott in China? Well, the company's chief executive, Danny? Reese says not to worry tensions erupted between Canada and China in December due to the arrest of a Chinese telecoms executive in Vancouver, some Chinese websites. Call for a boycott of Canadian brands Canada goose open its Beijing flagship store just a few weeks later fast forward to today recess Canada goose is already a top selling brand in its category. And he says we're just getting started in China. In Hong Kong, I'm Rishaad Salamat, Bloomberg daybreak Asia. Well, let's get a close up. Look, what is happening in financial markets, and particularly this reaction to the data out of China with Bloomberg's Doug krizner down the inflation data for the month of January below forecast on both retail and wholesale level. Consumer prices up one point seven percent. The estimate was for a one point nine percent increase in January. And then we're PPI is concerned producer prices up a scant one tenth of one percent. These numbers, incidentally, our year over year the forecast for the producer price index was for a gain of three-tenths. Of one percent got a weaker offshore currency right now. This is the Chinese want against the dollar at six seventy eight seventy seven some positive news for the Chinese credit markets credit default swaps insuring securities against defaults for five years now with the lowest level since January twenty eighteen terms of the equity trade Shanghai composite is down three tenths of one percent. In Hong Kong hang sang weaker by one percent. Nikkei two twenty-five is down. One point one percent. At this hour. We are continuing to see a stronger yen. It picked up about one half of one percent against the dollar in the New York session. And right now, the end better by about two tenths of one percent against the greenback here at one ten thirty one the yen aside, and it's relative strength. We also had some mixed corporate results for Japan Inc. Another factor. Weighing on the Nikkei in Seoul, the kospi down nine tenths of one percent. A bright spot is in Sydney where the ASX two hundred is higher by two tenths of one percent. Crude oil continuing. To gain in the electron accession WTI right now fifty four seventy five we picked up about one percent in the New York session. Onward Russia would accelerate production cuts those agreed to in a deal with OPEC, obviously that will add to a similar pledge made last week from Saudi Arabia fifty four seventy five on WTI and in the bond market US ten year treasury in the Tokyo session. We got a yield up to sixty five. I'm Doug krizner at Bloomberg interactive brokers studio in New York, Juliet US, President Donald Trump says he'll sign the government funding Bill and then declared a national emergency should.

China Bloomberg Hong Kong US Doug krizner New York President Donald Trump president Beijing Bill de Blasio Rishaad Salamat Nikkei Canada Bloomberg interactive brokers Steven Englander Amazon Long Island Glenn Kelman Redfin Singapore
"glenn kelman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:34 min | 3 years ago

"glenn kelman" Discussed on Bloomberg Radio New York

"Eastern seaboard of the United States. I'm Rishaad salons and I'm Bryan Curtis. We're about thirty minutes out from the start of trading in Tokyo, and Seoul and two hours to go before the China markets open up including Hong Kong and just looking at cross the markets this morning. It's really kind of day like yesterday where we were bit. Stalled out waiting for news. The SX two hundred flat. We're also just slightly lower in new zero. We'll get to that in a moment with Christner. But now the top stories rish Amazon backing out of plans headquarters in Long Island, city, queens. That's after plans ignited a firestorm of criticism from local politicians and activists Glenn Kelman, president of real estate data company. Red fin said development is a warning sign to tech companies. It's a wakeup call to all of us in tech that we really have to think about how we treat our workers and how we're perceived by the general public. Because we're not necessarily going to be welcomed everywhere we go anymore. Governor Andrew Cuomo into to New York City mayor Bill de Blasio underestimated how an anti-corporate message from freshman congresswoman, Alexandria, ocasio Cortez, and others would take root sued deeply and quickly. We're also tracking developments on U S. China trade talks. China's president Xi Jinping is expected to meet with Treasury Secretary, Steven Mnuchin and US Trade Representative Robert lighthizer today in Beijing, Bloomberg has been told that the two sides are still far apart on key issues, including Chinese government subsidies for state run companies. President Trump is considering extending the March first line.

China president United States President Trump Governor Andrew Cuomo Glenn Kelman Bryan Curtis U S. China Christner ocasio Cortez Hong Kong Xi Jinping Rishaad Long Island Amazon Bloomberg Bill de Blasio New York City Tokyo
Toll Brothers Profit Jumps as Wealthy Americans Spend

MarketFoolery

02:10 min | 4 years ago

Toll Brothers Profit Jumps as Wealthy Americans Spend

"Toll brothers, stock up, twelve percent this morning, third quarter profits for the luxury home builder came in higher than expected. Re toll brothers also raised guidance. It kind of seems like some people were surprised by this. I get the feeling that you were not. Well, it's an interesting toll brothers is within the home building industry is generally regarded as as the luxury home builder. So bigger ticket homes, higher price points on and so forth. But a lot of exposure to California, some of the markets every little bit hotter. You know, I think with. Reasonably rising interest rates. If you look, they had a really strong second-quarter as well. Quarter prior to this. And if you look at the data and the recent rising interest rates, I think people were expecting them to have cooled off a little bit, but they said, no. Basically, every market remained strong and they they like their backlog profitability with stable. So they were feeling pretty good. And you know, I think there are number of demographic trends that point to continued strength in the housing market. I mean, it's been going for a couple years, and I think the last time I was on the show, we talked about Home Depot and people reinvesting in their homes, and I think you're seeing, you know, I think there are a couple interesting trends. One is older Americans fifty five sixty five and older are owning their homes longer and buying retirement homes, and you can expect them to live longer. So that housing stocks not going to turn over maybe as frequently as it would have in the past. Second, you're finally seeing like thirty mid thirty year olds. Finally get together and start homes. And then as a knock-on effect of that, the renter rate overall is coming down now where it settles out. It's kind of an interesting question because. I mean, if you look at. Prior to the housing bubble it was at around thirty five percent during the housing bubble when everybody was by homes at dropped all the way to about thirty percent right now, it had spiked following the housing crisis that about thirty seven percent now it's about thirty six. So does it go back thirty five? In which case maybe this housing boom is going to be not so not so sustainable in the future or does it start to drop again and get closer to like maybe settle out of thirty three thirty two. And then I think you would see a couple more years of of strong growth in the industry.

Toll Brothers Home Depot Re Toll Brothers Redfin Glenn Kelman California CEO Toby Thirty Seven Percent Thirty Five Percent Thirty Percent Twelve Percent Thirty Year