Boston Herald's Jennifer Athas on the Condo Market in Boston
Related Audio:
-
Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
Jennifer are you doing. I'm game great good morning self how many konduz yet for sale in Boston to. Every now live downtown market they're about 700. I'm kind of on the market. Now what is it normally they go -- went with that number -- a a year ago three years ago and if you go this far back 510 years ago. You know last year I'd probably be about 11100. -- in 2006. The peak of the market probably about 16100. Consular releasing low inventories now. Why would it rises solo. You know I think it's a combination of things and I think the main reason is in this downtown market there's been no buildings for five years. No you know we've really had no -- skill building of any kind. For several years. So. 690 condos for salary now. Room and and how many months of inventory would that -- Event about. A little over three months of inventory. And what should it be. -- healthy market. Is probably between five and six months of inventory that's really a balanced market you know when this thing. You know amount of inventory that this low. They're really papers this stellar. It seems they -- from what I've been reading and when I look at the listings it seems like everything is a luxury unit yet they everything's a 1000000000005. And in their big money. Why the proliferation of the luxury units. -- now -- -- signature collector you you to -- loosely in Boston. You know I think in terms says. Lecturing you're looking at size as the -- com you know right now I think about a 13840. Units. In the downtown market under 500000. But those are probably -- -- 60700. Square foot unit with either one -- two bedroom. Content that you know anything that the thousand square feet of luxury. I'll be doing very well how much they go on for like out it's a year you're selling your house in the suburbs you wanna move in town can you work in town. Because I suspect that's a lot of who's buying basics the it's the the empty Nester. They they don't want to be they don't want the this hourlong commute in from from Wellesley anymore. In grade grade and you know in terms of the larger unit if you're looking at something that 2000 square feet you're probably going to be minimum you know one point seven. Well over two million dollars. Yes that's -- the kids the united that the college grads that are buying that's. You know act of and not a lot of empty masters a lot is bloody US buyers in the market. So who'd like to -- Wear it where the young people -- They use they can't afford a 1000007 so they go on to say they go to Quincy to go to south beating on it Charles however they were today to go in order to buy something. Charles -- very hot south Boston's very you know Quincy -- felt very hot. You know all these areas right outside the city are very very popular. And then also a lot of young people that are staying in the city and it's just one person in a 500 or 700 square but it you know Condo is buying for just one person. -- the we have to pay for a fair if you wanna be and taxpayers on the bag around 700 days underground. And about four. Ford Five Hundred thousand you know you might has. There's a lot European Court level which is Altman the basement unit and something like that -- you know you're usually making a compromise reallocation from being right downtown. So when will we start to see stuff coming on line new inventory because that seems to be the proper -- nothing being built for five years. We hear about all kinds of shovel ready projects but I don't see many cranes and this guy. The grade you know and that's. But the going to be a big race to the finish for a lot of developers and you know I think different project of that probably is gonna come online will be replaced. And that downtown market -- -- the -- condos and Washington's streets yeah about 265. -- to -- in that project. You know they say it's going to be a 5050 split between rentals of condominiums but that's only going to be the first the first new building that the market analyzed camping. And how much will those Beagle for. That's Darryl Spencer visits down by the roots. You know I would estimate probably. It's going to be based and paste -- square -- You know probably 800 here about this reference. Depending on the size of -- -- yeah yeah yeah 700 scripting in a settlement without them. In the banks are financing these things are people coming in and paying cash. In terms is that it's it's -- It usually if you have a development Mike. It a -- sponsored by the bank debt will be you know holding the rounds so it's not like they're gonna be selling a portfolio loans for projects like that. So there's usually financing. I'm available. At several preferred -- and and then again you know a lot of cash buyers -- Right right all right -- Jennifer thanks a lot very appreciate your time -- -- happy sales obese a lot to -- this. In my. All right that today that Jennifer fast from the bosses is so right -- you know these luxury units. There's there really small.
