News: Brokerage

Goof off time

If life is supposed to be the pursuit of happiness, and a recent survey revealed that 74% of the population count the days till Friday (TGIF), then why not ask our government to do something about it? Here's a popular answer to unemployment: The United States becomes a mandated four-day workweek. Result? Many larger firms might have to hire more help. That's good for the economy. Right now it's the workingman's taxes who finance the unemployed. Is that fair? Most of the employers I know have been forced to either close their companies, lay off employees, or cut pay, and then put in a four-day work week that obviously cuts more pay. Here's an interesting question to ask our elected leaders, and since the newspaper is mailed on a regular basis to all the city mayors, reps, senators, and the governor, I am sure that at least one of them will give us the courtesy of an answer. Which one of those actions has the government used? Since we are taught as youngsters to lead by example, I am sure that the government has done some of those cuts. Maybe cut senators' pay or benefits that are paid for by us, the suffering, innocent taxpayers. What do you think their answer will be? What does all this have to do with real estate? The answer? Everything! If the economy suffers, real estate suffers. Who caused the recent recession? The lawmakers for not upholding the law. And the government for deregulating the laws already in place. So a four-day week will give us all more time to goof off, relax, and enjoy all the leisure-time industries that many of us read about, dream about, and never get to attend. I can't wait to hear from the politicians on this matter. Do they work a 40-hour week? Roland Hopkins is the founder of the New York Real Estate Journal, Norwell, Mass.
MORE FROM Brokerage

NYSCAR June 2026 president’s message - by Mercedes Brien

As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,