Market Update | APR 02

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

April 02, 2024

01  Cherry Blossoms are blooming earlier every decade as global temperatures increase:  The average date at which they start to bloom has moved up 1.2 days per decade since 1953..

(Bloomberg)

02  "Buyers remain price sensitive and are still unlikely to view or engage with properties they believe are overpriced."

– Jo Eccles

03  If the dollar had slipped 8% in value in a week, global headlines would be on fire with alarmist messaging. Bitcoin dropped 8%.....barely a peep!

04  Exclusivity and privacy. These are two aspects that are becoming more and more desired by the very wealthy as ‘quiet luxury’ becomes a shield to not be too easily identified in many areas, not just fashion, the ability to not scream “Look at me!”..... Many of the very wealthiest are cocooning themselves, isolating them from mass society to focus more on their families and experiences - and high security - rather than fame or recognition. We see it in fashion, travel, private clubs, membership-only restaurants and.... homes.

(CNBC)

05  A lawsuit filed this week alleges that Hermès is violating antitrust law by “tying” the sale of one item to the purchase of another and exploiting their market power. According to the lawsuit, Hérmes’s sales associates force customers to buy other Hermès products such as shoes, scarves and jewelry so they can get an opportunity to get their hands on the famed Birkin. AGENTS TAKE NOTE:  I’ve heard of agents proposing to buyers that they’ll only accept their bid in multiple bid situations if they give them the exclusive to sell their current home.....