Do all signs point to a healthier housing market?
Tony Adam examines economic indicators
- Duration 3:49
- Date Apr 10, 2012
Tony Adam examines economic indicators
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So basically -- up we started four.
Individuals like property owners or real estate agents to put up property that is previously under utilized so they can be rents out for event's.
So hot what are you seeing in terms.
Of the housing market any indicators that would send you actually make any predictions one way or the other recovery and a recovery.
Well so I mean there's a lot of strong indicators that there is recovery anatomy and I think.
The the average home price in New York is up two of just about 820000 dollars right now so.
You know it's starting to come back and I think the because of that we're starting to see a lot of this shift so.
In the starter homes -- these.
One measure of apartment type homes are really being sold at a higher rate than previously.
What we're all seeing rental prices skyrocketing.
Right now is there a shortage of rental properties particularly in Citi.
Right there is scarcity right now so I think is the first time -- -- third time in thirty years that the rental rate is just under 5% so.
Really really -- market out there right now for apartments in New York.
But I think your company comes in then and help some people with these high end apartments with no one to -- them.
And helps them gain revenue from -- and explain how you do that.
Where it so as -- -- the the homes that are now being sold at a higher rate -- are these you know starter -- entry level type homes so.
Annual with the home that's above that million dollar price tag it is going to be so on the market for awhile and we allow them to put it up so that.
Someone either having a birthday party or a kid's birthday party -- -- -- -- anything any sort of event.
Even weddings and allow them to put up our minds that people can find them because it is very challenging for consumers to find locations for their defense.
And how -- you work out of the insurance side of things one of the big things that anybody ever tried to organize the event -- organized many.
Is insurance anytime somebody.
Trips or falls at a party if they -- something within the venue everybody's looking for someone to -- -- so how do you account for that.
So we do have insurance set up on -- and a case by case basis and it's being built into the you know if you are -- -- that we can we do broker out insurance policies for it and how do you make money.
So we -- 10% on each booking that goes through our site.
So talk a little bit about what inspired this idea how you guys got it off the ground.
So in about so lie I started looking at the market and I had a friend whose mother always -- out her.
Santa Barbara ranch for weddings and so.
From there we I sort of looking into the industry and I found out Hughes who was I mean.
The wedding industry is a 55 billion dollar -- year industry the corporate events industry is over -- sixty million so.
Finance and over 300 billion dollars is spent in just those two categories of events was really important to me and I was.
-- I was thrilled at the opportunity to try to disrupt that and take is broken and fragmented.
Way of looking for events basin and make it very very simple and easy process for consumers.
And so what can consumers expect from New York company that they don't -- and again at other events basis.
Meant space promotion sites.
So I think you know right now every other events based promotions ladder every available event listings say it's just the listing and we've made it very very simple for consumers to discover locations so.
If you're just looking for venues in New York that are wedding venues under 5000.
You can see just that list exclusively.
Vs sifting through hundreds of listings at a time.
Alright Tony Adams CEO of and then that Tom thanks so much stunning.
-- think you.