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Start free trial →TBPN · Startups & Venture · November 2026
Real estate broker Ryan Serhant was explaining why high-end inventory is so tight that even huge offers don't move sellers. The problem, he argues, is that there is nowhere comparable to buy next.
…one with their grandparents and then coming out of World War two, everyone sat down together as a community in this country and decided, you know what we're gonna do? We're gonna create a system that rewards stability and punishes mobility, and we'll figure it out later. Yeah. And later is here.
Later is now.
It's here, and we punish mobility, and so people can't move. Like, you have 100% stagflation. Like, we are we are in it. Pricing is incredibly high. Inventory is incredibly low. And even if you have a great buyer on the table, where do you go? We deal with this in San Francisco like crazy right now. Pricing in the San Francisco Bay Area now is up, I think, 17 and a half percent year over year, but that's not even a Doesn't even That's right. Doesn't even capture what we're dealing with. 92% of every home in San Francisco this year has sold well over the asking price, not just over the asking price, but well over the asking price. And that's in part not because of what the home's worth. It's how much do you get that person to move elsewhere? Yeah. You know, we do deals on the... We just offered a a... We had a... An oceanfront property in Palm Beach on the island. The owner had paid $45,000,000 for it. My client offered him a $125,000,000 to move, and the seller told me to, oh, fuck myself. Not because he was angry. He…
What are my other options around it? What what...
There there are no other options.
There's less than 80