Subscribe to ‘Housing Notes’ to receive Jonathan Miller’s insights and research.

A Narrative of The Housing Economy

A Housing Market Where Coffee Needs A Rebrand

Time to read [4 minutes] Takeways Maxwell House’s temporary rebrand to Maxwell Apartment highlights how the housing affordability crisis now shapes major consumer marketing. The campaign, at first glance seen as a hoax, shows that rental living has become a central theme in public discourse. With a third of U.S. households renting, brands are targeting affordability concerns to connect with...

StreetMatrix: A Better Way To Follow Market Trends

Time to read [5 minutes] In addition to my duties as the author of the Douglas Elliman market reports for the past 31 years and CEO/CoFounder of Miller Samuel Real Estate Appraisers for the past 39 years, these Housing Notes have been the place where I share insights derived from these efforts since 2015. Today, I am pleased to announce that I am part of a new venture in addition to my existing...

A Federal Government Shutdown May Push Mortgage Rates Lower

Time to read [6 minutes] Takeways A shutdown cuts GDP, erodes confidence, and pushes mortgage rates lower. Federal shutdowns weaken the US dollar, disrupts services, and raises recession risks. Housing may seem some benefit but instability largely offsets any tangible real estate boost. I made a mistake with my Mailchimp settings on Friday, and many of you didn't receive my post: Take Stock In...

Take Stock In Housing Market Watchers Rewarding Scarcity

Time to read [7 minutes] Takeways NIMBY opposition and zoning block multifamily and affordable projects, driving up housing costs. Investordriven builder restraint incentivizes stock buybacks and low production over new supply. Structural scarcity creation: The alignment of NIMBYism, restrictive landuse policies, and investor pressures produces a systemic drag on housing supply...

Casinos Aren’t The Holy Grail Developers Seem To Think They Are

Time to read [9 minutes] Takeways Casino development frequently promises job creation and tax revenue, but research shows that proximity to casinos tends to depress local property values and rents The expansion of gambling, including online betting, has changed industry dynamics; failed luxury projects like Atlantic City's Revel highlight competitive pressures Personal experience and market...

Compass Paid Double Nickels On The Dime For Anywhere

Time to read [9 minutes] Takeways Compass announced an allstock acquisition of Anywhere (the industry’s largest legacy brokerage), a deal nearly tripling its sales volume while planning to maintain brand identities postmerger. The acquisition raises potential antitrust concerns due to Compass’s private listing network, which limits market transparency, reduces consumer exposure to...

Rating Psycho Killer Housing Market Conditions

Time to read [4 minutes] Takeways The recent decline in mortgage rates means that today’s expected Fed rate cut is already priced into the market, and any impact may be muted, or rates could even briefly rise. Confusion abounds as inflation—driven by tariffs and surging grocery prices—is a major concern, yet policymakers push rate cuts while the job market softens and new listing inventory growth...

Snark, Sarcasm, and Sold Signs: Meet Florida’s Funniest Agent

Time to read [4 minutes] Takeways Breanna Banaciski uses deadpan, crude humor on social media to market Tampa Bay real estate, blurring the line between parody and reality Her comedic videos help listings stand out in a crowded Gulf Coast market Her bold style grabs attention in a confusing housing market, but isn’t for everyone It's all getting so serious. My kids grew up getting their news from...

Thinking About Closed College Campuses For Non-Student Housing

Time to read [5 minutes] Takeways Falling enrollment and rising costs are closing small private colleges, leaving excess housing and weak degree ROI. Universities overbuilt upscale dorms with loandriven spending, now facing underuse. Underused campus housing is being converted into workforce, affordable, and multifamily units in major cities. Source: Filmgarb Today's piece is pushing the envelope...

When Paying $80 Million Doesn’t Guarantee Your View

Time to read [5 minutes] Takeways A condo development next to 520 Park Avenue is set to block some western views of Central Park, sparking disputes over the impact on values A billionaire buyer is suing the developer, alleging he was not informed about the potential future obstruction when purchasing his unit The case highlights longstanding risks in real estate, where views are never guaranteed...