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Real estate agents got $3.9 billion in Covid relief PPP loans. The housing market boomed, but few repaid the loans.
While Covid was battering the U.S. economy, Gary Goldberg seems to have done OK. During 2020, the pandemic’s first year, the Santa Barbara, California, real estate agent sold more than $27 million worth of luxury homes, slightly down from the $31 million he closed the year before, according to data from Zillow. In 2021, he sold $82 million worth of real estate. He also applied for and received two loans totaling $95,832 via the federal government’s Covid relief Paycheck Protection Program, according to public records. In his applications, he listed one employee. He asked for the first loan on April 15, 2020, and the second on Jan. 30, 2021. Federal records show…
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Manhattan Luxury Real Estate Deals Boomed in January
Manhattan’s luxury sector had its ideal January in at least 16 a long time, even with the dearth of overseas potential buyers and a new wave Covid-19 slamming the town, according to the weekly Olshan report. Capping the thirty day period have been 29 contracts signed at $4 million and above in Manhattan in the 7 days ending Sunday, in accordance to the report, unveiled Monday. The total volume for the week was $303 million, which was considerably increased than just about every of the 1st three weeks of January. There ended up 23 condominium and 6 co-op contracts signed, with a median inquiring price tag shut to $8 million. …
