Category Archives: NYC

No recession for the rich

Posted on February 21, 2023 by grim

From Mansion Global: Manhattan’s Luxury Real Estate Market Posts Best Week Since May 2022 Last week’s unseasonably warm temperatures may have helped warm up Manhattan’s luxury residential real estate market.  There were 31 properties priced at $4 million or more … Continue reading →

Posted in Demographics, Economics, NYC | 113 Comments

Who needs to buy?

Posted on February 10, 2023 by grim

From NJ1015: Here’s where millionaires choose to rent in New Jersey There are over 100 millionaires that rent in one city in New Jersey. If you’ve been paying any attention at all to real estate and building trends in this … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 96 Comments

Sorry buyers…

Posted on February 8, 2023 by grim

From Bloomberg: Buyers Are Flocking to NYC’s Suburbs. Too Bad There Aren’t Many Homes to Sell. In the midst of the worst US housing slump in a decade, a wave of finance and tech layoffs and drumbeats of a potential recession, … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 103 Comments

You take the good, you take the bad, you take them both, and there you have…

Posted on January 12, 2023 by grim

From the Times Union: Hudson Valley housing prices exploded in 2020. What happens now? In the late summer of 2019, when the word “pandemic” was most likely to call up images of the Spanish flu or the Black Death, the … Continue reading →

Posted in Demographics, Economics, Employment, NYC | 152 Comments

Not even that hot…

Posted on January 7, 2023 by grim

From Insider: The most honest man in real estate thinks the housing market isn’t going to crash Miller is a polymath: he has guided Floridians through understanding how Miami could adjust and profit off of the influx of New York-based buyers in … Continue reading →

Posted in Economics, National Real Estate, NYC | 87 Comments

Manhattan prices dip

Posted on January 4, 2023 by grim

From Bloomberg: Manhattan Home Prices Slip 5.5% in First Decline Since Mid-2020 Manhattan’s homebuying market weakened at the end of last year, but didn’t foreshadow a deep freeze heading into 2023. Co-ops and condos traded for a median of $1.1 million in … Continue reading →

Posted in Housing Bubble, NYC | 130 Comments

Chasing the Market

Posted on December 21, 2022 by grim

From Mansion Global: Inventory in New York City Rose in November, as Did Price Cuts After nearly three topsy-turvy years, the real estate market in New York City has started to look more like pre-pandemic times, according to a Tuesday … Continue reading →

Posted in Housing Bubble, NYC | 115 Comments

Too damn high

Posted on December 8, 2022 by grim

From Bloomberg: Manhattan renters face sticker shock with average rent at $5,200 Manhattan rents rose 2% in November, dashing hopes that prices would cool and forcing many renters to give up their leases or downsize, according to brokers. The median … Continue reading →

Posted in New Jersey Real Estate, NYC | 22 Comments

Deep dive on NJ from the Fed

Posted on November 14, 2022 by grim

From Liberty Street Economics @ The NY Fed: A Look at the New York-Northern New Jersey Region’s Pandemic Housing Boom Since the start of the pandemic, home prices in the U.S. have increased by an astonishing 40 percent. The New … Continue reading →

Posted in Economics, Employment, Housing Bubble, New Jersey Real Estate, North Jersey Real Estate, NYC | 58 Comments

Why the delta?

Posted on October 28, 2022 by grim

From Slate: The Reason Home Prices Are Finally Dropping National averages mask significant variation at the metropolitan level. Every one of California’s major cities—including Los Angeles, San Diego, and the Bay Area, some of the most expensive real estate markets … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate, NYC | 83 Comments

Casino in the Swamp

Posted on October 17, 2022 by grim

From Forbes: How New Jersey Will Double Down On Gambling If Casinos Come To New York City If the handful of billionaires, real estate developers and gambling companies get their way and bring a Las Vegas-style casino resort to New York … Continue reading →

Posted in New Jersey Real Estate, NYC, Politics | 111 Comments

Price declines for the NY Metro

Posted on October 14, 2022 by grim

From Patch: Long Island Home Prices, Sales Dip As Interest Rates Rise Long Island’s housing prices have finally started to come down from the all-time highs that were set during the summer. But real estate experts say it’s still a … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, NYC | 132 Comments

Back to Work

Posted on September 19, 2022 by grim

From CNBC: New York City is getting closer to the tipping point in return to office work Jamie Dimon may have been off by a year, but New York City’s offices are finally starting to fill up. In May 2021, … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, NYC | 102 Comments

Going to battle with NYC

Posted on August 11, 2022 by grim

From NJ Globe: Gottheimer, legislators combat NYC congestion pricing by offering incentives to keep jobs in N.J. Stepping up his fight against New York City’s congestion pricing plan, Rep. Josh Gottheimer (D-Wyckoff) and three Bergen County legislators today announced a … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, NYC | 160 Comments

Did NYC kill NYC?

Posted on March 31, 2022 by grim

From the NY Post: NY’s job deficit continues to grow from already high pre-pandemic levels: federal data New York still has 454,000 fewer private-sector jobs than it had two years ago before the coronavirus pandemic hammered the city and state — … Continue reading →

Posted in Demographics, Economics, Employment, NYC | 173 Comments