MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 9/1/2025 – 9/8/2025

Did You Know?

DID YOU KNOW?

* Consumer sentiment readings have declined this year amid concerns about tariffs, labor market conditions, and policy uncertainty. Consumer behavior tells a different and far more encouraging story, however: According to research from Bank of America Institute, which analyzes BofA’s proprietary data to track real-time economic trends, U.S. consumers are saving, spending, and paying off credit-card debt, all at a pace exceeding the pre-pandemic era. (BARRONS)

* What do you get when wealth inequality soars to extremes? Just 54% of US adults view capitalism positively, down from 60% in 2021 and the lowest since Gallup began asking the question in 2010…. 😬 (Bloomberg)

* If OPEC+ increases oil production, could this lower inflation by bringing down energy/transportation costs? Or will this impact the viability of local production. In 2025, the average price to profitably drill a new well in U.S. shale basins was around $65 per barrel. However, this average masks significant variation, with some regions needing as little as $40 per barrel and others requiring more. 

* Roughly 810,000 people spend more than half the year in their RV. Two-thirds are under 55 and 80% are still working. Parking a huge RV at a home is tough for most as they require lots of space…..and are often rather unsightly to neighbors. If you keep moving around, though, you could avoid paying any real estate taxes…..

“When the assistant is much smarter than 
you, how are you going to retain that 
power? There is only one example we 
know of a much more intelligent being 
controlled by a much less intelligent 
being, and that is a mother and baby . . . If 
babies couldn’t control their mothers, 
they would die. The only hope for 
humanity is engineering  AI to become 
mothers to us, because the mother is very 
concerned about the baby, preserving the 
life of the baby, and its development. 
That’s the kind of relationship we should 
be aiming for.” 

– Geoffrey Hinton, Computer Scientist (FT)

* A year ago today the 10-year was just below 3.7%….today it’s around 4.09%. 
The 10-year Treasury yield indicates economic sentiment: rising yields suggest confidence in economic growth and potential inflation, while falling yields signal caution or recession fears. It’s a crucial benchmark for pricing other loans, such as mortgages and corporate debt, influencing borrowing costs for consumers and businesses. It also impacts the stock market by affecting the attractiveness of stocks versus lower-risk bonds.

* Which US State generates the most revenue from gaming….Nevada? Nope. New York State! (What happens in NYC, stays in NYC?)  In fiscal year 2023, New York’s total revenues from lottery sales and taxes on gaming amounted to $4.8 billion, about 3.6% of the state’s total operating funds spending. Nevada collected around $1.2 billion…. Nevada does not have a state lottery….

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac fell by 6 bps from the previous week to 6.5% as of September 4th, their lowest level since mid-October. “Mortgage rates continue to trend down, increasing optimism for new buyers and current owners alike. As rates continue to drop, the number of homeowners who have the opportunity to refinance is expanding. In fact, the share of market mortgage applications that were for a refinance reached nearly 47%, the highest since October,” said Sam Khater, Freddie Mac’s chief economist.

Source: Freddie Mac