Scott Harris, founder of Magnetic in NYC, shares his journey to launching a real estate firm, including insights into luxury sales, market trends, and New York’s housing and development challenges.
Industry News: Rising Inventory Levels, Investor Rate Sensitivity, and Office Conversions Surge

Episode Overview
In this industry news episode, Ryan Glick and Charles Covey dig into three major stories in land development. They start with the May 2025 housing market update from Realtor.com, highlighting the continued rise in inventory, now over a million active listings nationally, and what that means for developers, especially in fast-changing markets like Austin, DFW, and Houston. While prices are adjusting and days on market are increasing, interest rates remain flat, and the conversation explores how that’s influencing both buyer behavior and builder strategy.
Next, they discuss the results of a new investor survey from ResiClub, which gathered insights from over 200 single-family landlords and investors. The data reveals what’s making it tough to find deals that cash flow, how high of an interest rate investors are willing to accept, and which regions are seeing the most portfolio growth or exits. It’s a revealing look at how sentiment, affordability, and rate pressure are driving investment decisions right now.
Finally, Ryan and Charles talk through a report from the New York Post that shows more office space is being torn down or converted than newly built, a first in 25 years. They explore what’s fueling the shift, why conversions aren’t the silver bullet for housing shortages, and how location still makes or breaks these redevelopment efforts. They also touch on the importance of placemaking and the role town squares once played, and could play again, in modern development.
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