1st American Properties Group 1 LLC

https://1stamericanproperty.com/

1st American Properties Group 1 LLC, operating as 1st American Properties, is a real estate company headquartered in Brooklyn, New York. The company's core business revolves around purchasing homes for cash, providing sellers in New York City's five boroughs with a streamlined and direct selling process. Its mission is to offer fast, all-cash offers and transparent guidance, eliminating the need for traditional home staging or extensive showings.

The company specializes in acquiring properties in any condition, catering to homeowners facing various situations such as inherited properties, relocation, downsizing, foreclosure, or those dealing with problem tenants. They provide immediate cash offers and aim for quick closings, often within 24-48 hours of property assessment.

With over 30 years of experience in the New York City real estate market, 1st American Properties positions itself as a local and reliable partner for homeowners seeking a confident and pressure-free sale. Avraham Glattman is associated with the 1st American Properties Group.

Latest updates

US Jobs Report Plunge Sparks Market Volatility, Stagflation Fears

Event summary

  • February 2026 US nonfarm payrolls declined by 92,000, marking an unexpected contraction.
  • The unemployment rate rose to 4.4%, while average hourly earnings increased 3.8% year-over-year.
  • Revisions to prior months’ data revealed December payrolls were revised down by 65,000 and January by 4,000.
  • Healthcare, information technology, and federal government sectors experienced job losses, while social assistance saw gains.

The big picture

The unexpectedly sharp decline in US job growth signals a potential inflection point for the economy, suggesting a faster cooling than previously anticipated. This, coupled with rising geopolitical tensions and algorithmic trading activity, creates a complex environment for investors and raises concerns about a potential stagflationary scenario. The bond market's anticipation of slower growth underscores the risk of a broader market repricing.

What we're watching

Monetary Policy
The Federal Reserve's response to the weakening labor market will be crucial; a pause in rate hikes is increasingly likely, potentially followed by cuts later in 2026.
Algorithmic Impact
The influence of algorithmic trading strategies on market movements will likely intensify, potentially exacerbating volatility and creating feedback loops.
Geopolitical Risk
Escalating geopolitical tensions, particularly involving Iran and its impact on oil prices, will continue to pressure inflation and complicate the economic outlook.

Record 401(k) Withdrawals Signal Deepening Financial Strain on American Workers

Event summary

  • 6% of 401(k) participants took hardship withdrawals in 2025, a record high, up from 4.8% in 2024 and 3.6% in 2023.
  • Nearly 40% of workers surveyed reported tapping retirement accounts for various needs, including debt, bills, and unexpected expenses.
  • Withdrawals are disproportionately impacting lower-income and hourly workers, contributing to wealth inequality.
  • The SECURE 2.0 Act, which expanded access to retirement funds, may be contributing to the increased withdrawal activity.
  • National 401(k) assets remain above $7 trillion, but contribution rates and withdrawal rates are moving in opposite directions.

The big picture

The surge in 401(k) hardship withdrawals highlights a concerning trend of financial fragility among American workers, suggesting that many are lacking adequate emergency savings and relying on retirement accounts to cover immediate expenses. This behavior, coupled with rising credit card debt and delinquency rates, signals a potential drag on long-term economic growth and retirement security, and underscores the unintended consequences of policies designed to increase financial flexibility.

What we're watching

Policy Response
Legislators will likely face pressure to address the growing trend of 401(k) withdrawals, potentially leading to further adjustments to retirement account access and incentives.
Employer Action
More employers may explore offering employer-linked emergency savings accounts to alleviate the pressure on employee retirement savings, though adoption will depend on cost and regulatory considerations.
Wealth Impact
The long-term impact on retirement readiness, particularly for lower-income workers, will be a key indicator of broader economic health and potential future social safety net needs.

Midwest Housing Affordability Crisis Emerges as Prices Outpace Wage Growth

Event summary

  • Home prices in Midwest cities like Madison, Milwaukee, Indianapolis, and Cleveland have risen significantly since 2020.
  • Price appreciation in some suburban Midwest counties has exceeded 50% since 2019, despite minimal population growth and flat wage increases.
  • The Midwest is experiencing a structural supply shortage of new housing, with annual building permits averaging half the level of comparable healthy markets.
  • Midwestern households now spend over 20% of their gross monthly income on mortgage payments, exceeding the historical average of 15%.

The big picture

The Midwest's housing market, long considered a bastion of stability, is now experiencing a rapid affordability crisis driven by constrained supply and inflated prices. This dynamic, where nominal prices remain lower than coastal markets but affordability has eroded significantly, represents a unique regional challenge that deviates from the typical national housing narrative. The situation highlights the risks of overlooking regional nuances in broader economic analyses and suggests a potential vulnerability to shifts in capital markets.

What we're watching

Construction Response
Whether builders will meaningfully re-engage in Midwestern markets to address the chronic housing shortage and moderate price increases remains to be seen, and will be a key indicator of long-term stability.
Capital Flows
The extent to which national price corrections and shifts in capital flows impact Midwestern markets will determine if the region faces a broader market reckoning.
Wage Dynamics
How wage growth evolves relative to housing costs will dictate the long-term sustainability of the current market conditions and the potential for displacement of local families.

Private Credit Stress Signals Potential Systemic Risk

Event summary

  • New Mountain Finance sold $477 million in private credit loans at 94 cents on the dollar, following forced sales by Blue Owl.
  • UBS projects private credit defaults could reach 15% in adverse scenarios, particularly in software and technology.
  • The sale signals increasing liquidity tightening and asset liquidation to support stock prices and reduce exposure to payment-in-kind (PIK) loans.
  • Market signals are diverging, with credit markets failing to confirm the recent equity rally and Treasury/SOFR futures pricing in rate cuts.
  • Comparisons are being drawn to the early stages of the 2008 financial crisis, highlighting concerns about excess leverage and potential deleveraging.

The big picture

The current environment in private credit mirrors early warning signs from 2008, characterized by asset sales at discounts and rising default projections. This suggests a potential unwinding of leverage built up during a period of historically low interest rates, which could have systemic implications given the interconnectedness of credit markets and the exposure of major financial institutions. The divergence between equity and credit markets warrants close monitoring as a potential indicator of broader economic stress.

What we're watching

Default Cascade
How rising default rates in software and technology, as projected by UBS, will impact the broader private credit market and potentially spill over into CLOs.
Bank Exposure
Whether major banks can maintain assurances of limited risk regarding their exposure through BDCs, leveraged loans, and high-yield bonds, or if vulnerabilities will surface.
Market Divergence
The pace at which credit markets reconcile with equity market performance, as a continued divergence could signal further instability and a potential correction.

Walmart's 'Hiring Recession' Warning Signals Deepening U.S. Economic Bifurcation

Event summary

  • Walmart publicly used the term 'hiring recession' to express concerns about labor market deterioration and its impact on consumer spending.
  • The U.S. savings rate has fallen to 3.6%, the lowest level in several years, indicating consumers are drawing down savings.
  • Institutional investors sold $8.3 billion in U.S. equities last week, the second-largest outflow on record.
  • Retail investors have poured $48 billion into equities over the past 21 days, while margin debt has reached levels reminiscent of the dot-com era.

The big picture

Walmart's warning, combined with declining savings rates, rising debt delinquency, and cautious institutional investor behavior, points to a deepening divergence in the U.S. economy. The 'K-shaped' recovery is creating structural imbalances across multiple sectors, potentially leading to a correction as consumer purchasing power continues to erode and market liquidity diminishes.

What we're watching

Market Sentiment
The continued influx of retail capital into equities, coupled with institutional selling, suggests a potentially unsustainable market dynamic that could amplify downside risk if markets reverse.
Consumer Durability
How the redirection of consumer spending towards debt repayment will impact the ability of companies like General Mills to maintain sales forecasts, signaling broader economic weakness.
Technical Levels
Whether key technical support levels in major indices, particularly the NASDAQ-100, will hold, as breaches could trigger further selling pressure from systematic trading strategies.

First American Properties CEO Warns of Economic Disconnect, Urges Policy Shift

Event summary

  • Michael Eisenga, CEO of First American Properties, publicly challenged the accuracy of current U.S. economic data, specifically jobs and inflation reports.
  • Eisenga highlighted a loss of 419,000 higher-paying jobs since April 2024, replaced by lower-wage positions, and noted a shift towards essential goods purchases by consumers.
  • He criticized the Federal Reserve's reliance on aggregate data, arguing it obscures underlying economic fragility and disproportionately impacts American households.
  • Eisenga warned of accelerating job displacement due to artificial intelligence, particularly impacting white-collar workers and recent graduates.

The big picture

First American Properties' CEO's public dissent represents a growing concern among some industry leaders regarding the accuracy of official economic narratives and the potential for policy missteps. This critique highlights a disconnect between reported economic strength and the lived experiences of many American households, potentially signaling a need for a more nuanced and responsive approach to monetary policy and workforce development. The firm's sizable real estate portfolio provides a unique vantage point to observe these trends firsthand, adding weight to Eisenga's observations.

What we're watching

Policy Response
The Federal Reserve's reaction to Eisenga's critique and whether they will adjust their data weighting or policy stance remains to be seen, potentially signaling a shift towards a more dovish approach.
Consumer Behavior
Continued shifts in consumer spending patterns, particularly the trend of higher-income households trading down, will be a key indicator of the broader economic health and potential for further strain.
AI Disruption
The pace at which AI-driven automation impacts employment across various sectors, and the effectiveness of workforce retraining initiatives, will determine the long-term consequences for income inequality and economic stability.

Job Cuts Surge, Investor Complacency Signal 2026 Market Risk

Event summary

  • First American Properties' CEO Michael Eisenga flagged rising job cuts and investor complacency as potential downside risks for U.S. financial markets.
  • January 2026 saw 108,435 job cuts, a 118% year-over-year increase and the highest January total since 2009.
  • The ADP National Employment Report showed only 22,000 private-sector jobs added in January 2026, significantly below expectations.
  • Bank of America's Global Fund Manager Survey reveals cash allocations are at 20-year lows, with minimal downside hedging.

The big picture

The disconnect between weakening labor market data and complacent investor positioning creates a precarious environment. First American Properties' warning highlights a potential for a significant market repricing, particularly concerning given the lack of downside protection among investors. This signals a late-cycle environment where even minor negative data releases could trigger substantial volatility.

What we're watching

Market Sentiment
The persistence of bullish sentiment despite deteriorating economic data suggests a potential for a sharp correction if negative surprises materialize.
Labor Dynamics
How the pace of job cuts accelerates or decelerates in the coming months will be a key indicator of broader economic health and consumer spending.
Capital Preservation
Whether firms prioritize capital preservation and balance sheet strength, as advised, will determine their resilience against potential market headwinds.

US Housing Market Weakness Deepens, Midwest Prices Signal Broad Downturn

Event summary

  • December 2025 existing-home median prices rose only 0.42% year-over-year, a significant drop from 5.85% the prior year.
  • New-home prices are down nearly 15% from their 2022 peak, with builder inventory reaching nine months of supply.
  • The Midwest experienced a year-over-year decline in median sales prices for the first time since late 2022.
  • 2025 home sales are estimated at 4.7 million units, well below the long-term average of 5.9 million.

The big picture

First American Properties' assessment highlights a significant structural shift in the US housing market, driven by affordability constraints and regional price declines. The market's performance, currently far below historical averages, suggests a prolonged recalibration period, potentially impacting the broader economy given the housing sector's significant contribution to GDP. The observed trends indicate that policy interventions alone are unlikely to reverse the current downward pressure.

What we're watching

Price Momentum
Whether the Midwest’s price decline will spread to other regions, potentially pushing national indices into negative territory, will be a key indicator of the market’s trajectory.
Builder Response
How builders adjust to the shift towards lower-priced homes and elevated inventory will influence overall market stability and potential for price stabilization.
Credit Stress
The continued rise in FHA serious delinquency rates suggests that affordability challenges will likely persist, potentially limiting any rebound in demand even with lower mortgage rates.

US Labor Market Shows Persistent Structural Weakness, Threatening Economic Stability

Event summary

  • The number of long-term unemployed (27+ weeks) rose to 1.9 million in December 2026, a 400,000 increase year-over-year.
  • 5.3 million individuals are involuntarily working part-time, up nearly 1 million from a year prior.
  • 6.2 million people are outside the labor force but want a job, a 684,000 increase year-over-year.
  • First American Properties CEO Michael Eisenga highlighted these trends in a statement released January 12, 2026.

The big picture

First American Properties' CEO's commentary underscores a concerning divergence between headline employment figures and the underlying health of the U.S. labor market. The persistent issues of long-term unemployment, underemployment, and discouraged workers suggest a lack of durable job creation and a potential drag on broader economic growth, which will impact real estate demand and investment decisions. These trends highlight the need for a more nuanced assessment of economic resilience beyond simple job counts.

What we're watching

Consumer Spending
The continued prevalence of involuntary part-time work and discouraged workers will likely constrain consumer spending, impacting demand for housing and commercial properties.
Policy Response
The degree to which policymakers address the structural issues in the labor market will significantly influence the pace of economic recovery and the stability of real estate values.
Household Formation
The rise in long-term unemployment and discouraged workers will likely depress household formation rates, impacting demand for both rental and owned housing.

Trump's Second Term Boosts Markets, Fuels First American Properties Optimism

Event summary

  • First American Properties' CEO Michael Eisenga publicly praised economic and security gains during the first year of President Trump's second term.
  • U.S. financial markets reached record highs, with the Dow Jones and S&P 500 both achieving peaks.
  • Third-quarter GDP rose to an annualized rate of 4.3%, and inflation declined to approximately 2.7%.
  • The national trade deficit reached its lowest level in five years.
  • Tax reductions enacted during Trump's first term were made permanent.

The big picture

First American Properties' public endorsement highlights the perceived positive impact of the current administration's policies on the real estate investment and management sector. The firm's success is intrinsically linked to the ongoing economic and political climate, and its commentary underscores the importance of policy stability for long-term investment planning. While the reported metrics are positive, the reliance on specific policies creates a degree of political risk for the firm.

What we're watching

Policy Dependence
First American Properties' optimism is heavily reliant on the continuation of current policies; a shift in administration could significantly impact their investment strategy and returns.
Market Sustainability
The sustainability of record market highs amid ongoing global economic uncertainties warrants close monitoring, as corrections could impact First American Properties' asset valuations.
Border Enforcement
The long-term effectiveness and legal challenges surrounding the administration’s border enforcement measures will likely influence property values and development opportunities in border regions.

First American Properties CEO Warns of 35% Housing Price Declines, Cites Liquidity Concerns

Event summary

  • Bankruptcy filings in the U.S. reached over 500,000 through November 2025, a 11% increase year-over-year, with significant rises in Chapter 7 and Chapter 11 filings.
  • Existing home sales edged up 0.5% in November 2025, but remain below year-ago levels, while the median home price surpassed $400,000.
  • Housing inventory remains low at roughly 1.43 million units.
  • The Federal Reserve cut the federal funds rate by 25 basis points in December 2025, marking the third consecutive reduction.
  • First American Properties CEO Michael Eisenga predicts a 35% decline in national average home prices over the next 3-5 years.

The big picture

First American Properties' assessment highlights a concerning convergence of economic stress, rising bankruptcies, and a housing market struggling with affordability despite recent Fed easing. The CEO's prediction of a significant price correction, coupled with the Fed's liquidity interventions, signals a potential shift in the real estate landscape and underscores vulnerabilities within the broader financial system. The firm's focus on strategic asset acquisition and portfolio management will be tested as the market navigates these headwinds.

What we're watching

Price Volatility
The pace of home price declines in 2026 will likely be influenced by the interplay between mortgage rates and buyer sentiment, potentially leading to increased volatility.
Liquidity Dynamics
Continued Federal Reserve interventions in short-term Treasury markets suggest underlying liquidity strains that could impact broader financial conditions and real estate financing.
Inventory Shifts
While First American Properties anticipates increased inventory in early 2026, the actual volume and composition of available homes will be crucial in determining the severity of price corrections.
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