I’ll Take Manhattan - Real Estate That Is…
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There is an interesting article in the New York Times today on why the Manhattan real estate market is still roaring while most of the rest of the country is slowing or moribund. The combination of increasing population, low inventory, and high incomes emanating from Wall Street have maintained the juggernaut that is Manhattan real estate these days.
Add to that the increased safety that is making Manhattan safer for families and the weak dollar that entices international buyers to the city, you have the makings of a real estate market that never sleeps.
On the national level, sales of existing homes slowed by 17 percent in the second quarter of 2007, compared with the second quarter of 2006, while inventory swelled by 16 percent, according to figures provided by the National Association of Realtors. New homes fared even worse: they fell by almost 19 percent, according to Commerce Department figures.
In Manhattan, by comparison, sales of new and existing apartments more than doubled. In a trend that could shift quickly in light of the recent problems in the credit and stock markets, inventory shed a third of its bulk. It dropped to 5,237 units, despite the influx of several thousand new condos, according to Miller Samuel Inc., the Manhattan appraisal company via the New York Times.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
Comment by Irene Starygina on 21 August 2007:
Actually Manhattan rents are starting to go down because people are priced out of their apartments. In a report released today by Manhattan brokerage The Real Estate Group, you can see that citywide rents are down for the first time in months. Here’s a link: http://www.tregny.com/manhattan-apt-rental-report.jsp