CHM Blog

A shocking but healthy way to ‘take the plunge’ is now showing up in upscale backyards

When you think of health comforts for your backyard, ideas such as hammocks, hot tubs, pools, and even pickleball courts come to mind. But Wall Street Journal’s Jessica Flint reports on a new phenomenon that is finding its way into a number of affluent health-seeking homeowners all over the country.

She tells the story of an Austin, Texas resident who takes a few moments to build up his courage, and then lowers himself into a 66-inch-long and 24-inch-wide stainless steel tub clad in customized zebrawood — submerging himself up to his neck in water that he sets at 39 degrees Fahrenheit, with water circulating at 1,400 gallons a minute. “It’s like being in a river,” he says of the flow rate produced by this particular vessel.

He typically tolerates this for fewer than two minutes at a time, once or twice a day. And for the privilege of freeze-shocking his body, he paid $19,000. Blue Cube, based in Redmond, Ore., makes cold plunge units that cost between $18,000 and $29,000. “Cold plunging has made a profound difference in my life,” says the homeowner. He says it has brought him health benefits including stress management.

The practice of cold water bathing is nothing new, having been the domain of athletes for decades and the world over for thousands of years. Now that it has become a mainstream wellness trend, the practice has several names — cold plunging, ice bathing, and/or cold-immersion therapy. Water temperature below 59 degrees has been known to offer wide-ranging health benefits such as reduced anxiety, alleviated joint and muscle pain and boosted energy and focus.

Seeing this trend, developers are now adding cold plunges to amenity-rich luxury complexes like 53 Wes 51t in New York and Cipriani Residences Miami, betting that cold immersion is here to stay.

In 2021, Onyx W.D. Johnson and Cristian Santangelo bought a $2.2 million two-bedroom, 1,123-square-foot apartment on New York’s Lower East Side, where they enjoy a spa with a tranquility garden, 75-foot saltwater swimming pool, hot tub, sauna, steam room and hammam (Turkish bath) with a cold plunge set between 55 and 58 degrees Fahrenheit. At first, they quivered at the idea of cold plunging. Then they began seeing other people dipping and discussing the health benefits. “We decided to give it a try,” Johnson says.

Cold plunging is now a part of their wellness regimen, along with using the complex’s hot pool, steam room and sauna followed by a cold plunge for 45 seconds to a minute. Johnson says this routine speeds up his training recovery time, helps him think more clearly, and improves his alertness and mood. Santangelo says the ritual helps him calm down and fight anxiety and stress.

Experts in the industry attribute the uptick to several factors, including lingering pandemic concerns over public wellness facilities. But the cold shock also includes a shocking price tag. The average cold plunge costs about $45,000, with elaborate projects running closer to about $65,000.

John Thorbahn, who purchased a sizable single-family home near Boston during the pandemic, owns a cold plunge from Phoenix-based company Morozko Forge, founded in 2018. Morozko Forge’s entry-level unit costs $12,850; its upgraded version costs $19,900. And these ice baths make ice. “While the stainless steel tub is filled with cold water, an ice slab starts building at the tank’s bottom,” says Flint in her article. “At about 1-inch thick, the ice detaches and floats to the water’s surface. The ice can be broken up with an implement like a rubber mallet if needed.” Thorbahn, who is the managing director at a consulting company, ice bathes most days for two to three minutes at 33 to 34 degrees Fahrenheit. His wife takes the plunge as well. “The older you get, the more you want to live longer,” says Thorbahn, whose home also has a gym, sauna, red light therapy room and hot tub. “You start investing in protocols to help you be healthy.”

Experts on the health benefits of cold immersion when used as part of “contrast therapy” when cold and hot exposures are performed in succession. Moving water combined with sauna use shifts the body’s nervous system and creates physiological changes, such as boosting metabolism, lowering inflammation and releasing neurotransmitters that improve cognitive performance and mental health. In essence, you are activating your whole body system.

Every trend comes with its warnings, however. These same experts say that cold immersion carries the rare risk of cold water shock that can cause confusion or fainting. That risk increases if a person does hyperventilating breath work before or during cold water immersion. It also might not be good for people with heart disease or high blood pressure. They advocate for cold plunging with others, and practicing slow, nasal breathing in the water.

Realtor, Wall Street Journal, TBWS

How Rates Move:

Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up. Tracking these securities real-time is critical. For more information about the rate market, contact me directly. I'm among few mortgage professionals who have access to live trading screens during market hours.

Rates Currently Trending: Neutral

Mortgage rates are moving sideways today. The MBS market improved by +19 bps last week. This was not enough to decrease mortgage rates or fees. The market experienced high volatility last week.

This Week's Rate Forecast: Neutral

Three Things: These are the three areas that have the greatest ability to impact rates this week. 1) The Fed, 2) Central Banks and 3) Treasury Sales

1) The Fed: Now that the FOMC meeting is behind us, we will get a ton of Fed speeches this week with a focus on Fed Chair Powell, who will speak twice.

06/20 Bullard, Williams

06/21 Powell, Cook, Jefferson, Goolsbee and Mester

06/22 Powell, Mester

2) Central Banks: We get key interest rate decisions out of Switzerland and Great Britain. The BofE is expected to hike but the market is expecting a "dovish" hike.

3) Treasury Sale: We have an important 20 year Bond auction on Wednesday.

This Week's Potential Volatility: Neutral

This morning markets are a little choppy but not making any meaningful movements. Volatility has started at moderate levels but may spike on Fed speeches.

Bottom Line:

If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.

Richard Sardella has been actively managing and providing services in the mortgage industry for over 30 years. Richard serves on the board of directors as President of Colorado Home Mortgages Inc.

All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

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