Manhattan real estate closes 2018 as worst year since the financial crisis

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The number of home sales in Manhattan fell 14 percent in 2018, the steepest drop since 2009, according to new data. The median price for an apartment in New York City fell below $1 million for the first time in three years in the fourth quarter.

 

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Fucken duh have you seen Soho lately? Business are fleeing

That's The Peoples Republic of NYC Tax laws... It sucks the life out of anything the breathes. ' The new tax law, which limits the deductbility of state and local taxes, also hurt demand for real-estate in high-tax cities like New York' -CNBC

Overpriced

Good. Greedy investors have ruined the housing market by pricing people out of it. They create the bubble and then it bursts.

Why are the prices so high then ? Why can’t I find a simple one bedroom for a reasonable price in NYC ? If the prices are falling and Real Estate had the worst year then shouldn’t there be inventories left for these flats ?

TrumpEffect

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