Manhattan Rents Plunge While Vacancies Soar

[Mitch Messer]

Check out the following article (and watch the video): https://www.yahoo.com/finance/...

They report some of the first hard data on the direct (and indirect) impact of COVID-19 on NYC real estate. Both residential and commercial markets are discussed. The actual full report is here: https://www.millersamuel.com/f...

It appears that many families are radically rethinking their priorities when making "buy vs. rent" and "city vs. suburb" life decisions.

I found this observation particularly intriguing:

"[T]he tether between work and home just got a lot longer ... people have more flexibility about where they can live in relationship to where they work"