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We’re entering prime leasing season in an already tight market and seasonal pressure may force new records to occur, i wouldn’t be surprised if we saw a few months where we see more record highs.
Found on CNN 1 year ago
It is part of a long process since the summer. There was expectation that rents would fall and that didn’t happen. Rents peaked last summer. Every month since then, they’ve been moving sideways, with a modest increase, it was just enough to set a new record.
Found on CNN 1 year ago
It isn’t a rocket ship, it is just creeping higher and every so often it creeps high enough to reach a new high.
Found on CNN 1 year ago
If you look at market share of two-year leases, 56.3%, that is the highest since June of 2021 during the rocket ship of rental activity, what that says to me is that the consumer expects rents to rise going forward and they are locking in rent now as a protection.
Found on CNN 1 year ago
The drive in more leasing activity is parallel in the rise in mortgage rates that has continued to push people into the rental market, not just the unaffordability, but also the uncertainty.
Found on CNN 1 year ago
The opposite of rising rents is not necessarily falling rents, it is stabilizing rents, and now rents are moving sideways, if not moving a little higher.
Found on CNN 1 year ago
Despite expectations, January rents certainly make the case that as long as interest rates remain as high as they are, rents could go farther up, of course, significant job loss is going to create a lower rent environment.
Found on CNN 1 year ago
Rents are within a whisker of the summer high, and it is only January, which is typically a weaker rental time, almost every price indicator is at or near all-time records. It seems to confirm that rents aren’t going to go down.
Found on CNN 1 year ago
The numbers are essentially acting like the pandemic didn’t happen.
Found on CNN 1 year ago
The Manhattan sales market is exiting the euphoric market of 2021 and moving to something closer to normal.
Found on CNN 1 year ago
Sellers aren’t going to get the prices they got in 2021 and buyers aren’t going to get much improvement on affordability from 2022, meanwhile, banks are disappointed because their pipeline is going dusty.
Found on CNN 1 year ago
This is an unusual situation where the low inventory is the by-product of mortgage rates being cut to the floor, normally, you’d expect inventory to expand with significant rate growth.
Found on CNN 1 year ago
As things are now, I'm not sure what causes rents to drop, but a recession is the asterisk in the conversation. The Fed is taking a baseball bat to the economy and there are more rate increases in store. There is still a tremendous amount of uncertainty.
Found on CNN 2 years ago
You have more people pivoting, they were on the margin to buy a home, but now with mortgage rates spiking, they are in the rental market, the market is already tight. This makes it tighter.
Found on CNN 2 years ago
Nothing goes up forever, but in the near term we are poised for more gains.
Found on CNN 2 years ago
After rents fell 20 % in 2020, they rebounded to parity in 2021 and now in 2022 they are going past pre-pandemic prices.
Found on CNN 2 years ago
You have people who would be buyers being pushed into the rental market because they don't qualify or can't afford a purchase at this point.
Found on CNN 2 years ago
This is a market that has been pressed to the ceiling. On top of that, the expectation is that new leasing will peak in August, which is expected to keep upper pressure on prices in the near term, i'm not sure how long this lasts after that, because at some point, for affordability, the math just doesn't work.
Found on CNN 2 years ago
It isn't an all-time record low in vacancy, but it is the lowest February since the financial crisis.
Found on CNN 2 years ago
What Miller Samuel're seeing is a rapid rebound and an unprecedented climb in rental prices, in all categories, everything is going up.
Found on CNN 2 years ago
The city is now doing what the suburbs did ahead of it, which is boom.
Found on CNN 2 years ago
There is an intensity in the Manhattan market, but it isn't at the levels we've seen in the suburbs.
Found on CNN 2 years ago
2021 began with vaccine adoption rates being high, that sent a signal that it was safe to be in the city and sales took off.
Found on CNN 2 years ago
A typical amount is 5 % to 7 % of transactions have bidding wars. The high was 31 % in 2015, bidding wars are rising slowly around New York. Heavy sales volume is expected and inventory will not be able to keep up. That will press prices higher this year.
Found on CNN 2 years ago
2021 set a lot of sales records and yet office towers are still two-thirds empty, the market is expected to tighten up and that's before we see more office workers returning. 2022 is going to be a year of heavy sales volume, a higher share of bidding wars, a sharp decline in listing inventory and higher prices.
Found on CNN 2 years ago
There has been a release of pent-up demand that came with a greater perception of safety and activity that is drawing inbound migration from all over the country, now with the relaxation of the Covid travel ban, we expect an uptick of international demand in the coming months. The next leg up will be early next year when corporate America comes back and people return to work in large numbers.
Found on CNN 3 years ago
The higher end of the market is rebounding more quickly and more rapidly.
Found on CNN 3 years ago
Prices are not quite back, but very close to being back to where they were pre-pandemic.
Found on CNN 3 years ago
Compared to last year, the market is more normal, all price sectors are strengthening, it isn't just the top end.
Found on CNN 3 years ago
We've seen some attrition across the federal crews and engines, but nothing like the shortages in California.
Found on CNN 3 years ago
The focus was on walkability -- buyers wanted to be able to buy strawberries at three in the morning, luxury suburbs, like Greenwich, were skipped over.
Found on CNN 4 years ago
There has been a precipitous drop in the cost of a rental and the expectation is that there is still more of that ahead, until the inventory is eaten up, there is still a lot of runway ahead. We'll be well into 2021 and a vaccine until we get into an uptick in pricing.
Found on CNN 4 years ago
It's not going to be a light switch, but the news is starting to get people to be hopeful and think about returning to New York City. Because right now, without a vaccine, it is status quo.
Found on CNN 4 years ago
People from Manhattan are looking to Brooklyn for space and rents are softening everywhere.
Found on CNN 4 years ago
Brooklyn, even though it is weaker than a year ago, has not seen the level of deterioration that Manhattan has.
Found on CNN 4 years ago
Over the past few years, we've passed the affordability threshold, with the loss of the ability to comfortably use all the amenities that characterize living in a city -- restaurants, retail, bars, all the cultural events that were at your beck and call as a resident of Manhattan -- people are questioning it. Those were the salve on affordability.
Found on CNN 4 years ago
In Manhattan, because of Covid, renters are looking to go to the outer boroughs to get more for their rental dollar if they are staying in the city, other would-be renters in Manhattan are [ now ] the first-time buyers in the suburbs.
Found on CNN 4 years ago
The region is booming, but part of that is at the expense of the city.
Found on CNN 4 years ago
They all tell the same story, you're seeing this tremendous uptick in new signed contracts in the suburbs.
Found on CNN 4 years ago
This is less' the city versus the suburbs' and more' Manhattan versus the suburbs,' the outlying areas around the city are benefiting from outbound migration of Manhattan specifically.
Found on CNN 4 years ago
That is a function of wealth and mobility as opposed to density, many people who could leave did, and have not yet returned.
Found on CNN 4 years ago
The number is rising, but it is not on par with a year ago.
Found on CNN 4 years ago
Right now the average time between a contract and closing in New York is about 90 days.
Found on CNN 4 years ago
Generally, we see a 20 % to 30 % premium in this echelon, but this isn't a record, we've seen 100 % premiums.
Found on CNN 4 years ago
One plus one equals two and a half, you're overpaying for a standalone apartment, but it is logical in the world of taking large apartments and creating even larger homes.
Found on CNN 4 years ago
There is some reputational damage and current investors may simply prefer an exit when the fund re-opens, they're going to need to access their money, so the portfolio will need to have a totally different make-up to that of today. How long it takes to reach that point is difficult to estimate – it certainly won't be days from now.
Found on Reuters 5 years ago
Our biggest enemy isn't the The FDA or the DEA, but CBD companies making false claims.
Found on CNN 5 years ago
The industry is exploding, it's growing in popularity every day. It's so important for The FDA to get a regulatory handle on this, there are bad products out there. There are products that make false claims. It's important that The FDA develop standards.
Found on CNN 5 years ago
The sale for $ 238 million has nothing to do with the current market. It has everything to do with 2015, which was around peak luxury, in New York the top end is softening right now because of over-development.
Found on CNN 5 years ago
There aren't as many as you think, the banner year was 2014. In 2013 and 2014 I started noticing every couple of weeks there was a story that said,' this was the highest asking price in the country,' or' this was the highest in California.' In 2015 I started looking back and realized that many of those hadn't sold. It was the pocket listings, the ones that weren't splashed everywhere, that were selling.
Found on CNN 5 years ago
I just feel like it was kind of unwarranted to be almost harassed like that.
Found on FOX News 9 years ago
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