A staggering stat on how investors are pricing out people who, you know, want to live in their apartments: In 2011, the average price of a new condo was $1.15M, a 9% premium over resales. By 2019, it was $3.77M, a 118% premium over resales.
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Can we all say, money laundering?
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I mean, the issue for the high end real estate market now is that there isn’t enough money being laundered, lol
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We need a vacant unit tax.
- Još 2 druga odgovora
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And now we are stuck with these tall, thin eyesores.
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On the bright side, plenty of them will wind up laundering illegal money.
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And what about commercial properties? I live on the UWS & am staggered at how many stores are newly vacant or unoccupied for years, block after block.
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This is why when ppl say "Unemployment is only 3.5%", I say Uber/Lyft
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feels like shadows of all the landlords who'd rather storefronts sit empty than lower rents... crazy how many closed/empty stores there are just in midtown.
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At these market rates, the landlords are probably claiming those units as a loss in their taxes. Yet another tax reform we could use, but will probably never see...
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Čini se da učitavanje traje već neko vrijeme.
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