June 17th 2022
Forbes
2022 came in with a bang, real estate-wise. Record numbers of contracts were signed here
in New York during the first couple of months of the year. But as the first quarter wore on,
cracks began to appear, mostly attributable to national or world events. A decade of
almost free money accelerated a stumble into rising inflation, which has been exacerbated
by an enormous increase in prices at the gas pump. Gas at $5 per gallon has been brought
about primarily by the opportunistic pricing of the multinational oil companies, which
have seen the war on Ukraine as cover for unprecedented price gouging. Oil stocks are
among the few which are making a killing in the current market.