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Updated about 10 years ago on . Most recent reply

Max Galka's profile image
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Max Galka
  • from New York, NY
  • Member since Nov 23, 2014
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Max Galka's profile image
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Max Galka
  • from New York, NY
  • Member since Nov 23, 2014
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Max Galka
  • New York, NY
1
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Real Estate News & Current Events

Can Anyone Explain What is Going on in the NYC Housing Market

Max Galka
  • New York, NY
Posted

Some recent stats

128 Homes Valued at $25M or more (one unit sold at $100M last month)

It seems like out of nowhere, people in NYC are all of a sudden paying completely nonsensical prices for housing.  And this is only the beginning.  There are 6 new towers under construction that will all be more expensive a luxurious that anything in NYC currently.

Why is the happening now?  I know the wealth disparities have grown in recent years, but this all seems to have happened in the last 6 months.

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NA Jones's profile image
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NA Jones
  • Flipper
  • from Port Deposit, Maryland
  • Member since Feb 24, 2014
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NA Jones
  • Flipper
  • from Port Deposit, Maryland
  • Member since Feb 24, 2014
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NA Jones
  • Flipper
  • Port Deposit, MD
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NA Jones
  • Flipper
  • Port Deposit, MD
Replied

You guys sit here and debate, I'm going to dream about what my life would be like if I could afford to pay $100k a month rent.

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