Boris Mizhen -- Predicts a Dynamic Real Estate Market Soon
Sep 14, 2023
While observers have voiced concern that the recent hike in interest rates may raise issues in affordability, stagnate prices, and harm real estate, Boris Mizhen addressed the actions of central bankers as the direct result of a stronger economy in the first place.
New York, NY, United States - September 14, 2023 /MarketersMEDIA/ —
Property investor Boris Mizhen has shown excitement for the future of real estate thanks to the positive changes in the property sector. Mizhen is one of several industry experts who view the current changes as indicators that the industry will be steady this coming year. Top economists believed the previous years to be a record-breaking year for real estate, and while last year saw periods of rapid growth, it was a year of caution as investors were hesitant to jump into a market without clear signs of positive growth. This coming year, the expectation is to expand consistently as real estate is strengthened by low mortgage interest rates and employment growth.
These predictions in real estate are backed by new data showing the unemployment rate dropping to the Federal Reserve’s target of 5 percent, down from a peak of 10 percent in 2009. More Americans are working today than at any point in the past six years, which means more people will be able to afford their first home, or upgrade to a new one. While observers have voiced concern that the recent hike in interest rates may raise issues in affordability, stagnate prices, and harm real estate, Boris Mizhen addressed the actions of central bankers as the direct result of a stronger economy in the first place. He also explains that the higher rates can act as a stimulus as well. “If there is an expectation that rates will increase in the future again, then existing homeowners are more likely to buy and sell before another surge.”
The rental market and home purchasing plans of millennials are also expected to improve the real estate industry. As the cost of renting continues to increase, housing looks more attractive, and it will push more Americans into home ownership. Mizhen notes that the price of renting is rising much faster than house prices. “In most of the United States, it is less expensive to buy than to rent today. There is an opportunity in the market to own for a monthly payment that is significantly less than the expenditure of renting.” An increasing number of adults in their 20s and early 30s want to purchase a home, with one-third of those anticipating to buy expecting to start looking in the next two years. Experts point out that in the past, this was an age group that was known for cautiously taking out lines of credit, partially because they didn’t want to repeat the debt mistakes of earlier generations. In 2011, 65 percent of millennials were interested in buying a home. Now, the number is up to 80 percent, signaling another upward trend for real estate.
Boris Mizhen is a passionate entrepreneur and businessman based in New York City. Having built a successful career in marketing and advertising, he expanded into real estate development and now owns and manages dozens of properties nationwide. Mizhen is committed to building sustainable and affordable housing for citizens and supporting communities. He has achieved a wide range of accomplishments due to his unique business instinct, strategic mindset, and the lasting relationships he has created over the years. He is also a devoted philanthropist, and has been the primary sponsor for Chabad of the Shoreline and the Jewish Foundation of Greater New Haven. Across the northeastern United States, he remains involved in other charities and property developments in New York City as well as his hometown of Connecticut.
Boris Mizhen - Property Developer and Philanthropist: http://borismizhennews.com
Boris Mizhen (@bmizhen) - Twitter: https://twitter.com/bmizhen
Boris Mizhen - Facebook: https://www.facebook.com/bmizhen
Contact Info:
Name: Boris Mizhen
Email: Send Email
Organization: BorisMizhenNews.com
Website: http://borismizhennews.com
Release ID: 89107608
Should any errors, concerns, or inconsistencies arise from the content provided in this press release that require attention or if a press release needs to be taken down, we kindly request that you immediately contact us at [email protected]. Our efficient team will be at your disposal for timely assistance within 8 hours – taking necessary measures to rectify identified issues or providing guidance on the removal process. We prioritize delivering accurate and reliable information.
More News
India-US trade pact in last leg of legal drafting, says Piyush Goyal
India is currently in the final stages of legal drafting for a trade agreement with the US, which is expected to be operational soon. The agreement, following sessions with US trade representatives, aims to ensure preferential access for Indian exporters. Indian officials hope for tariff stability and seek resolution on outstanding issues before the deal is signed.
Southwest monsoon exits India with 13% rain deficit
The southwest monsoon made its withdrawal from the entire country, which was expected this year. The northeastern monsoon has begun over Tamil Nadu, Puducherry, and other southern regions of India. Rainfall was recorded over Tamil Nadu, with many areas experiencing heavy downpours in the last 24 hours. The monsoon season concluded with a 13% deficit in rainfall, below the long-term average. The India Meteorological Department reported a total of 759.
Southwest monsoon exits India with 13% rain deficit
The southwest monsoon made its withdrawal from the entire country, which was expected this year. The northeastern monsoon has begun over Tamil Nadu, Puducherry, and other southern regions of India. Rainfall was recorded over Tamil Nadu, with many areas experiencing heavy downpours in the last 24 hours. The monsoon season concluded with a 13% deficit in rainfall, below the long-term average. The India Meteorological Department reported a total of 759.
India's September goods exports rise 23% as imports hit six-month low, narrowing trade deficit
India's goods exports surged by 23% in September, totaling $44.4 billion, supported by significant gains in electronics, petroleum, and engineering goods. At the same time, imports rose by only 8%, leading to a reduced trade deficit of $30.21 billion. This export growth reflects a sustained positive trend in the second quarter of the current fiscal year. Notably, gold imports fell sharply by 81.27%, impacting overall import figures.
Saudis intercept Houthi missile in Medina region
A cruise missile was intercepted by the Saudi-led coalition in Medina, which is a significant religious site. The Houthis refuted claims of targeting the region, maintaining their promise to avoid holy cities. Recent attacks by Houthis have increasingly targeted Saudi Arabia, with notable strikes in Riyadh. Consequently, a planned EU-Gulf summit in Riyadh has been postponed due to ongoing tensions.
'Trump may Finalise Russia Sanctions Law in 10 Days': Sergio Gor
US President Donald Trump will decide on the Sanctioning Russia and Iran Act affecting India's oil purchases. The US ambassador indicated that discussions would continue during Secretary of State Marco Rubio's upcoming visit. India has expressed concerns that tariffs could harm bilateral relations amidst ongoing trade negotiations. While progress has been made, remaining issues need resolution before a trade deal can be finalized.
'Trump may Finalise Russia Sanctions Law in 10 Days': Sergio Gor
US President Donald Trump will decide on the Sanctioning Russia and Iran Act affecting India's oil purchases. The US ambassador indicated that discussions would continue during Secretary of State Marco Rubio's upcoming visit. India has expressed concerns that tariffs could harm bilateral relations amidst ongoing trade negotiations. While progress has been made, remaining issues need resolution before a trade deal can be finalized.
‘We’re done’, says Zelenskyy as Kyiv hits Moscow refinery
Ukraine has returned to attacking Russian oil refineries after President Volodymyr Zelenskyy stated that patience had worn thin. The ceasefire on energy targets, which was supported by Donald Trump, is effectively over due to Russia's continued attacks. Six Russian Su-34M military aircraft have been damaged in a Ukrainian strike. Meanwhile, Russian diesel exports are starting to reach global markets as the Kremlin announces a new agreement.
Mistry Objection Not Valid, say two Tata Trusts
Two Tata trusts, Sir Dorabji Tata Trust and Bai Hirabai Jamsetji Tata Navsari Charitable Institution, challenge Mehli Mistry's objections. Mistry claims irregularities in trustee appointments, while the trusts deny any illegal actions. Both trusts assert that his term expired and he no longer qualifies as a trustee. Additionally, the BHJTNCI seeks to replace its reporting trustee, leading to further legal disputes. Proceedings on these matters are set for November 5.
KFC signs Coca-Cola on as new beverage partner, ditching PepsiCo
KFC has officially signed a partnership agreement with Coca-Cola to provide beverages at its restaurants. This deal marks the end of KFC's long-standing relationship with PepsiCo, which is facing sales challenges. Coca-Cola products will be available in KFC locations across the United States starting in spring 2027. The announcement was first reported by The Wall Street Journal, indicating significant industry changes.
Dubai bets $1.4 billion on a new financial district after Gulf war slowdown
Dubai is advancing a significant $1.4 billion real estate project, which includes hotels and office spaces. Although property transactions have been impacted by regional tensions, prices remain relatively stable in the market. H&H Development has begun construction with a workforce of 30,000 on-site, aiming for completion by 2028. Despite lower sales, about 85% of the branded residences have been sold for high prices.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.