Michael Gerrity, Founder & CEO - WORLD PROPERTY JOURNAL™
As founder and CEO of THE WORLD PROPERTY JOURNAL -- the #1 organically-ranked "International Real Estate News" site in the world today by Google -- Mr. Gerrity has been interviewed over the years by numerous local and national news media organizations that include NBC Nightly News with Brian Williams, NBC Today Show, TIME Magazine, Orlando Sentinel, Orlando Business Journal, The New York Times, Palm Beach Post and Florida Trend Magazine. Mr. Gerrity was also awarded the prestigious "40 under 40" Entrepreneur Achievement Award of Central Florida from the Orlando Business Journal in 2000.
Besides running the day to day operations of THE WORLD PROPERTY JOURNAL, Mr. Gerrity has also served on several Boards over the last decade that include the Central Florida Technology Partnership's Digital Media Advisory Board, City of Orlando’s Technology Board, The Economic Development Commission’s Film & Television Board and he is a founding Board Member of Digital Media Alliance Florida - a statewide digital media industry association. In addition he is a member of the National Association of Real Estate Editors (NAREE).
Mr. Gerrity is also founder of GERRITY CAPITAL, a real estate technology venture capital firm based in Miami, Fl.
On the heels of Amazon's surprise announcement yesterday to cancel moving forward with its plan to build a new headquarters facility in New York's Long Island City due to some Democratic political opposition, both the local real estate market and the Governor's office were stunned.
According to Knight Frank's latest Global Outlook Report, Hong Kong will retain its title as the world's most expensive office market despite rents being forecast to decrease in 2019.
According to the National Association of Realtors, U.S. housing inventory increased and metro market prices rose at a slower pace in the fourth quarter of 2018. The national median existing single-family home price in the quarter was $257,600, up 4.0 percent from the fourth quarter of 2017 ($247,800).
According to the Mortgage Bankers Association's newly released its year-end ranking of commercial and multifamily mortgage servicers' volumes (as of December 31, 2018); Wells Fargo leads the national rankings, again.
Steady U.S. commercial real estate markets, along with equity and debt availability, are expected to keep commercial and multifamily mortgage originations roughly on par with the volumes seen the last two years.
According to Knight Frank's London Report, London retained its title as the world's top destination for investment in commercial real estate in 2018.
According to Redfin, the average sale price for U.S. luxury homes nationwide rose 4.7 percent annually to an average of $1,772,000 in the fourth quarter of 2018. That's on par with the annual growth seen in the second quarter of last year and up from a 3.2 percent growth rate in the third quarter.
Despite rising global uncertainty impacting Q4 investment, 2018 was the best year since 2007 for global commercial real estate markets, with volumes hitting $733 billion.
According to CBRE, commercial lending activity in the U.S. was strong in the final quarter of 2018, despite recent equity market volatility.
According to JLL, the overall office take-up in 2018 amounted to 1.39m sq. m, being flat year-over-year. Strong demand and low completions have led to growth of Class A and B+ rents, by 6.3% and 3.2% respectively over the course of last year.
According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 657,000 units in November 2018 after an upwardly revised October 2018 report.
Global real estate consultant CBRE is reporting this week that retail real estate left behind by the retail industry's digital evolution can find new life as warehouses and e-commerce distribution centers.
Less than 100 new luxury units (1,722 sq. ft or above) will be completed in Hong Kong's traditional luxury residential areas, including The Peak, Southern district, Kowloon Tong, Homantin and Mid-Levels, in 2019.
According to new research by Zillow, U.S. homebuyers have long earned more than twice as much money, on average, as renters -- a gap that's remained relatively stable for more than a decade.
According to the latest housing data from Florida Realtors, Florida's housing market reported higher median prices and increased inventory (active listings) in December 2018 compared to a year ago.
According to new research by housing platform HousingAnywhere shows an upward trend for rental prices in Q4 compared to the year before for all their major European student destinations.
Shadowed by the various regulatory measures on the property market and the external economic uncertainty, Macau's property market softened and saw a slowdown in investment sentiment.
According to JLL's latest research, Flexing Their Muscles: Markets to Watch in 2019, the U.S. office market is poised to take on significantly more office flex space in the coming year.
Higher mortgage rates resulted in fewer Miami-Dade home sales in December 2018. After five months of consecutive increases countywide, total Miami-Dade County sales decreased 6.2 percent year-over-year in December 2018.
According to JLL's latest Hong Kong Property Market Monitor report, despite lingering uncertainty surrounding the global economy and a slumping local stock market, co-working operators remained a major source of demand in the office leasing market in December last year.