Category: New York

While experts are forecasting more homes will be available, they said the boost in supply is not enough to solve affordability issues for buyers. Interest rates are expected to come down, but not by enough to counteract high prices. “It’s a very strange market, and it’s kind of hard to predict,” said Jeff Ostrowski, a housing analyst at Bankrate.com. Experts are torn about where exactly the housing market is headed in the latter half of the year. “Mostly, we think the housing market is going to improve over the next…

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Harry Dent, the outspoken financial author and economist, isn’t reversing course from his bold “crash of a lifetime” declaration this past December. Speaking in an updated interview with Fox News Digital, Dent cautioned that the “everything” bubble still has not burst, and it may be a bigger crash than the Great Recession. “In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened,” Dent said Tuesday. “What do you do if you want to cure a…

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A Judd Avenue Victorian in Bethel, Conn., which after two weekends on the market went under contract to be sold in May 2024. Five metropolitan areas in Connecticut rank among the top 10 percent of hottest seller’s markets in residential real estate, according to Zillow’s latest index capturing listing and sales activity through April 2024. Alexander Soule/Hearst Connecticut Media Within five days of hitting the Avon market at a $749,000 asking price, the Indian Pipe Trail house had a buyer — and for $151,000 over the owner’s target figure. At smaller…

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The American dream of homeownership has become increasingly challenging in recent years. Forget the 20% down payment! In this post, we will discuss about 10 sizzling housing markets in 2024 that demand a whopping $500K+ just to enter. The National Association of Realtors paints a sobering picture, highlighting how affordability has reached historic lows. This situation stems from a complex interplay between rising home prices and stagnant wages. According to their definition, a house is considered “unaffordable” if it consumes more than 28% of a household’s annual income. Let’s face…

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Posted by Wei Min Tan on June 7, 2024 Manhattan, New York remains a top choice for global investors seeking a safe and stable property market.  This appeal stems from factors like limited supply, high global demand and consistent value appreciation.  Even with lower rental yields compared to other locations, the New York property market offers diversification and a hedge against inflation, political uncertainty, and global economic disruptions.  This outlook explores the current trends impacting the prized Manhattan, New York real estate market. Read about Wei Min’s style in Best Manhattan…

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A historic Upper East Side hotel is set to become one of the city’s most coveted housing developments.  Since it was built in 1926 on East 76th Street just off of Fifth Avenue and Central Park, The Surrey has been a pillar of discreet luxury in one of Manhattan‘s most prestigious neighborhoods. It was made famous by a slew of guests, including JFK and Hollywood legends Bette Davis and Claudette Colbert. Now, British developers David and Simon Reuben, founders of Reuben Brothers, have made their first foray into the New York market…

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A historic Upper East Side hotel is set to become one of the city’s most coveted housing developments.  Since it was built in 1926 on East 76th Street just off of Fifth Avenue and Central Park, The Surrey has been a pillar of discreet luxury in one of Manhattan‘s most prestigious neighborhoods. It was made famous by a slew of guests, including JFK and Hollywood legends Bette Davis and Claudette Colbert. Now, British developers David and Simon Reuben, founders of Reuben Brothers, have made their first foray into the New York market…

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The distress in commercial real estate is growing as some office buildings sell for much lower prices than just a few years ago. Since the early days of the pandemic, owners of big buildings in New York and other large cities have been desperately hoping that the commercial real estate business would recover as workers returned to offices. Four years on, hybrid work has become common, and the strain on property owners is intensifying. Some properties are going into foreclosure and being sold for sharply lower prices compared with valuations…

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A new study ranked 180 U.S. cities for parenting based on relevant data. Raising children in the best possible environment is a solid reason to relocate. But today’s tough real estate market has slowed migration. In 2023, about 26 million people moved, way down from nearly 43 million in 2019, according to the Census Bureau. All the more reason for parents to carefully consider local resources, support systems, living costs and other attributes when researching a new city. A recent study by WalletHub ranked 180 U.S. cities according to family…

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This week’s properties are on the Upper West Side, Roosevelt Island and in St. George. Coldwell Banker Warburg Coldwell Banker Warburg Coldwell Banker Warburg Coldwell Banker Warburg Manhattan | 269 West 72nd Street, No. 14D Upper West Side Co-op $425,000 A roughly 450-square-foot studio with an entry closet, a windowed kitchen, a dishwasher, a windowed bathroom, window-unit air-conditioning and a hall storage closet, on the 14th floor of a 16-story prewar building with a live-in super, a bike room, a waiting list for storage bins and shared laundry. Tate Kelly,…

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China has relaxed or eliminated measures on home buying to spur new purchases. This has made a vocal constituency of existing homeowners very unhappy. For much of the past decade, China’s efforts to curb speculation on real estate grew broader and more extensive. Shanghai declared that anyone who got a divorce would be subject to restrictions on apartment buying for three years, to counter couples who were splitting up just so they could buy second homes as investments. In Chengdu, in western China, only local residents who paid social welfare…

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