It's the dawn of a new month, and thus time for Curbed's monthly roundtable on the state of the NYC real estate market. Booyeah!
For context, last week's DownMarket thread on which neighborhoods represent value is worth reviewing, as is Jonathan Miller's fresh dictate that some neighborhoods are likely to see price declines. Then, because these threads tend to focus on the purchase market, let's also consider this email from a Curbed reader in the inbox today:
I don't believe the rental market (at least in Manhattan) is as tight as people say. Aren't there signs of burgeoning inventory ( certainly with the luxury market) when according to this morning's NYTimes website these are the rental numbers: UES 6,740; UWS 4,679; GW 6,183; WVillage 4,181? Won't rental inventory continue its steady climb upward as more and more people are not able to sell and go to the rental market instead? Not to mention all the people who bought condos as investments. What do you all think?Let's have at it, people. The comments, they are open.
· Curbed Roundtable: September State o' the Market Report [Curbed]