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 ...
My post was wrong there is a cap on mtg interest too. I believe that is on mtgs over 500k
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