If only they'd voted for this guy.
Posted on 07/21/2018 11:24:28 AM PDT by Beave Meister
It’s not just luxury-home listings that are piling up in New York City. Even units for less than $1 million — within reach of far more people than a Billionaires’ Row penthouse — are hurting for buyers.
In Manhattan, the inventory of sub-$1 million apartments surged 27 percent in June from a year earlier to 3,087, the most for the month since 2013, according to StreetEasy. Such listings jumped 17 percent to 2,738 in Brooklyn, and climbed 6 percent to 2,314 in Queens, a borough usually sought out for its relative affordability.
Buyers at all price points are taking their time to shop around for the best deal — if they make a purchase at all. When combined with listings over $1 million, Brooklyn and Queens both had the largest number of available homes for June since 2008, according to StreetEasy. Total inventory in Manhattan hasn’t been this high for month since 2011.
(Excerpt) Read more at crainsnewyork.com ...
Gee, with a communist mayor and a fascist governor, you would think that NYC would be utopia.
I wonder what went wrong...
Good decision.....:-)
Cordon it off and let nature recover the filthy place.
You know those lights were bright on Broadway
That was so many years ago
Before we all lived here in Florida
Before the Mafia took over Mexico
There are not many who remember
They say a handful still survive
To tell the world about
The way the lights went out
And keep the memory alive
(Looks like Billy was only off by a year)
bookmark
Living in NYC would be like eating dinner next to a clogged toilet.
Looking at salaries in NYC. They just do not support the rents and property prices there.
$4,000 for a closet sized apartment? On a median $50,000 income?? Forget it. It wasn’t sustainable.
Investors kept buying thinking prices had no ceiling, but they do.
Cause they are still overpriced.
If only they'd voted for this guy.
Pennsylvania. Taxes lower, homes cheaper, guns legaller.
Having been born in the Bronx in 1939 and ‘immediately’ being moved to Orange County, I do remember later when going downinto New York and the stench of the pig farms of where Meadowlands is now (or close proximity), imagine my ‘shock & awe’ when I heard of New York properties for sale with views of Hackensack NJ
Before we feel sorry for the 1% types losing their shirts, keep in mind that most VOTED for Deblasio. And Deblasio is doing just what he PROMISED, making NYC into a shithole.
Well, Cuomo did tell gun owners and conservatives to get out. Methinks they did. And have been for years now. Was in Elmira/Bing. area years ago. Ghost towns. Run down. Sad...
LIEberals are locusts.
Chicago Communists?
$1m loan even at 5% interest is 50k interest per year... assuming if you are taking out that kind of loan you are probably in the 32% tax bracket at least.. so the cap on mtg deduction means these folks are going to have to pay 12.8k or so on their federal income taxes with the cap now in place.
Yep cali’ s are coming here in droves. Just waiting to ruin Az.
The Chinese have been buying up Queens, NY. I now see them in areas I never saw them in before. Where they move in, when there get to be enough of them, the neighborhood starts to resemble a Shanghai slum. Tons of high rise/high population density buildings mushroom up, cutting off one's view of the sky. Already very scarce, parking is becoming impossible, especially with the Chinese now parking their shuttle buses, ambulettes, and commuter vans in residential areas, each taking up TWO spaces. You can't drive anywhere not bumper to bumper, and there's nothing to ruin your commute like a catatonic Chinese driver. They average 19 mph in 25 mph zones, coast a hundred feet to a red light, and don't take off promptly when the light turns green. They litter everywhere with cigarette butts. They just let their little kids answer the call of nature wherever they happen to be standing. They don't want to learn English and remain insular among themselves. Now I just heard that instead of French, some high schools are offering Chinese as a language choice. And, I just saw a Chinese language ad at the bus stop at the end of my block. Nothing to do but move, let them continue to ghettoize a once lovely neighborhood.
Correct me if I’m wrong.
I believe the cap is on property tax, not mortgage interest.
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