Boroughs & Burbs # 83 || Banking Crisis – Still Waiting for All this to Blow Over?
By John Engel
Boroughs & Burbs
Banking Crisis still waiting for all this to blow over?
a show on the future of lending
Episode # 83 Thurs April 6 @ 4pm
on Evolution: There used to be 18,000 commercial banks in the US before the 80’s crash. Now there are a bit more than 4,000. People and businesses rely on banks more than ever, but the need for drive-up, bricks and mortar bank branches has diminished. We don’t need drive-throughs or ATMs, but we do need superior electronics.
on Crisis: We have several events that have resulted in yet another jolt to smaller and regional banks, including tanking their deposit base and stock prices. Personally I think it’s a real loss that Silicon Valley Bank has disappeared, and hope for the best for First Republic – one of the very best niche banks in the country. The fact that their assets are misaligned with their liabilities is not much different than the too-big-to-fail banks, yet they are getting punished for it. The Fed should support all banks if they want true competition…but they don’t. Will we see reform and additional regulation?
on the Future: As the Fed raises rates to combat inflation we are seeing most Americans sitting tight with their low-interest mortgage. As a consequence there is a record-low level of real estate inventory available, and a record-low levels of new mortgages. Banks are making less on each mortgage. What will it take to break this cycle?
”Boroughs & Burbs” is a weekly show hosted by John Engel of Douglas Elliman and Roberto Cabrera of Brown Harris Stevens. The show takes place on Zoom and is then re-broadcast on YouTube. Boroughs & ‘Burbs provides an in-depth look at the real estate market in New York City, its suburbs, and has expanded to include all of the markets important to New Yorkers, with a focus on the latest trends, market updates, and expert insights. The show is hosted by two experienced real estate professionals, who bring their expertise and knowledge to the discussion, providing valuable insights and analysis for anyone interested in the NYC real estate market. Whether you’re a real estate professional, a buyer, a seller, or simply interested in the market, “Boroughs & Burbs” is the perfect source for staying informed and up-to-date on the latest trends and developments in the international luxury real estate scene..
John Engel – John Engel can be found at http://www.JohnEngel.com. He is a consistently top-producing agent in Fairfield County, Connecticut. John recently won the Realtor of the Year Award in New Canaan where he is has recently been Chairman of the Town Council and is currently a member of the Planning & Zoning Commission. John also brings an insight into internet-based marketing that is unsurpassed. Before going into real estate he was the founder of two successful internet businesses, Paper.com and e-Media for which he won the prestigious Entrepreneur of the Year Award. John spent his earliest years in Stuyvesant Town in lower Manhattan and went to New Canaan High School before attending Davidson College in North Carolina. After graduating, he served as an officer in the U.S. Army and spent some time leading a military intelligence platoon on the front lines of the first Gulf War. He currently lives in New Canaan with his wife Melissa and four children. In addition to hosting this podcast on the market each week, John Engel produces an easy-to-understand and in-depth monthly market analysis called the Market Report for the 16 towns of lower Fairfield County.
Roberto Cabrera – Roberto can be found at http://www.RobertoCabrera.com. With 24 years of experience, I have been recognized throughout the industry for achieving outstanding results: Ranked nationally by REAL Trends as one of “America’s Best Real Estate Agents” for avg. sales price of $4.350M. Sold a single family Townhouse faster than any other on the Upper West Side over $10M. I live with my wife and daughter on the Upper West Side, the neighborhood I have called home for the past 23 years. I was originally born in Richmond, Virginia and grew up in Maryland, just one mile south of the Mason Dixon line. After graduating with a degree in Mathematical Economics from Hampden-Sydney College, the 10th oldest school in the country, I spent 5 years in Washington, DC working as a financial consultant. I also studied at The National Conservatory of Dramatic Arts and I’m a former actor who once moonlighted as a stand-up comedian. Many years ago, I authored APPLE PIE – The Real Ingredients for Buying and Selling Your Slice.
B&B 76: The Northern European Show ~Øyvind Olstad in Oslo – Feb. 16
B&B 77: Designers + Fabric: Transforming a Home – Feb. 23
B&B 78: Vince Rocco, Host of “Talking New York Real Estate” – Mar. 2
B&B 79: Santa Barbara – Adam McKaig – Mar. 9