American’s looking at real estate as ‘healthy investment’: ‘Million Dollar Listing’ star Ryan Serhant
The 'Big Money Energy' author said home demand is soaring amid the pandemic
"Big Money Energy" author and "Million Dollar Listing" star Ryan Serhant told "Cavuto: Coast to Coast" Friday that Americans are looking at real estate as a great place to park their cash.
THE TOP MARKETS FOR VACATION HOMES
RYAN SERHANT: I think for the first time since, 2008, people are looking at their cash holdings and they're saying, ‘I don't know if I should keep it where I've kept it for the last dozen years, I should put it into real estate. I should put it into cars.’
The cost of lumber in certain markets has quadrupled because of the demand for people wanting to do upgrades to their homes in places like Big Sky because they're spending because I think for the first time since Lehman Brothers filed for bankruptcy, the American people are looking at real estate as a great place to put their cash.
It's now not just something that they buy because they need because they're moving jobs or having a baby or just need more space. They're not buying it because they want it and they're looking at it, again as a healthy investment. It's not just for the one-percenters, the high earners. It's everybody across all marketplaces, and in New York City, finally, we are seeing that start to happen here, and it's been incredibly exciting.
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