April 25, 2018

1. 3rd Highest Building in US will be built in Chicago 

  • 3rd highest in US and 2nd highest in Chicago → 1422 FT (433.4 m) / $1 Billion Cost
  • Will purchase Tribune Tower and amenity à be completed in 2020 by CIM Group/Golub & Co
  • The re-development plan announced at Public hearing on 4/16/2018
  • #1. One World Trade Center (1792 FT - Completed in 2014)
    #2. Willice Tower (Sear’s Tower) in Chicago (1450 FT)
  • 200 Room Hotel, 564 Residential (439 Rental, 125 Condo), Mixed Use Building

2. When Korean purchases Oversee Properties Must report transaction 

  • Korean who resides in Korean purchases US properties Must report the closing at a bank (Purpose: Residing less than 2 year HanKook Bank / More than 2 years, other purpose a Bank)
  • US citizen purchases Properties in Korea Must report to Foreign Exchange Bank
  • Inheritance to children who lives oversees must be reported to HanKook Bank No need to report the opposite case (Reported in Korea Times Daily on 4/20/208 by ChulSoo Kim)    

3. Mixed Use Complex will be in Northern Blvd, Flushing, NY 

  • 144-49 Northern Blvd. 17 Story Mixed use building (Next to Rite Aid store)
  • Developer (CW Northern) purchased the lot at $36 Million ( between 49th St~61st St)
  • Total 213,270 SF / 132 condos, community facilities (48,318 SF), Retail (48,825 SF), Parking:489
  • Will be designed by My Architect PC
  • Across the lot, 7 story building is under construction (Former Berger King location): 144-74 Northern Blvd

4. 75% of renters want to buy a home.

  • According to NAR survey for 2905 adults, 75 % of renters do have a American Dream: Buy own home
  • Nationwide rent went up by 3.1% ( LA, New York, San Francisco Much higher)
  • 32% want to buy a home because of marriage, retire, response to new life style
  • 30% want to buy a home because of economic reason
  • 55% says they could not buy a house due to lack of down payment
  • 62% think it is not good time to buy a house because house price went up too much
  • Many M Gen will marry deliver babies in 2018, but increased interest rates and lack of houses to buy will be burden to M Generation

5. New Home sales shoot up 4% in March

  • New home sales jumped 4%, propelled by a surge of buying in West
  • In March, it hits 694,000 adjusted annual rate ( In Jan: 667,000 In Feb: 644,000)
  • For the first 3 months of 2018, sales are running 10.3% higher than a year ago
  • Homebuyers are snapping up newly built houses as the economic outlook has continued to improve.
  • Not affected by interest rate climbing up (Highest averages rates since 2014)
  • Solid new home sales grow Buyer cannot find existing homes available to purchase

6. 10 Year US Treasury Note yield 3% ?? 

  • This time, yield increase is from raw material cost increase, not from economy growth
  • If it becomes more than 3% Value system between stocks and Treasury note can be changed
  • Partially, there are some negative forecasts: Interests Rate / Worldwide depression
  • Foreign investors become more interested in investment to US dollars Dollar become strong
  • Mortgage interests rate will go up

7. Amazon will deliver your goods to your car trunk 

  • Your car becomes your locker by the Amazon Key In-Car program
  • Available to Prime members in 37 metro area in US for 2015 Chevrolet, Buick, GMC/Cadillac with active ON Star account. 2015 Volvo
  • How to work: Download the Amazon Key app Oder something to Amazon you may instruct where is your car parked / where to put your delivered goods (Front. back, trunk) → Driver can lock the car on application
  • Amazon announced last week that Prime membership has topped 100 Million

8. Amazon invests in Off-line store: Will sell it’s TV at Best Buy stores

  • Last year, Amazon bought Whole Food, expanded to 'Amazon Go' (No sales people)
  • They will sell Smart TV ('Fire TV') at Best Buy
  • Fire TV will support Netflix, Amazon Prime Video, HBO, Hulu (All streaming services)
  • Also 'Alexa' AI will be built-in equipment