Actually, real estate prices and rents have been increasing substantially in NY and it’s suburbs and said areas were pricey already - it’s just that there is nowhere to build anymore barring changes in zoning.
Well, in the DC area, they are changing the zoning to the point the area will look like Tokyo. Only problem is that everyone is leaving. I wonder who they expect to fill all of these apartments they are building.....hmmmm........ let me think....