According to QuickFacts on census.gov, over 70% of Manhattan households rent. It's not a far jump to see that the multi-family market plays a large role in the Manhattan real estate market. So, there is plenty of coverage of the rental market - as well as the trading of rental buildings in the press.
Articles followed the fluctuations of the rental market in New York - in the bubble, the crash, and the recovery. First, rents were up, inventory was down. Then, concessions were the norm, rents were down. Now, concessions are disappearing and vacancy rates are plummeting. The recent news from the NYC rental market focuses on the rising rents, and shrinking inventory. A few sources also noted the fewer trades of multi-family buildings in the market.
Some recent headlines include:
Articles followed the fluctuations of the rental market in New York - in the bubble, the crash, and the recovery. First, rents were up, inventory was down. Then, concessions were the norm, rents were down. Now, concessions are disappearing and vacancy rates are plummeting. The recent news from the NYC rental market focuses on the rising rents, and shrinking inventory. A few sources also noted the fewer trades of multi-family buildings in the market.
Some recent headlines include:
- Rents on the Rise Again from the WSJ.com. Read more at http://on.wsj.com/ihAbmY [June 09, 2011]
- Manhattan Rents Still Headed Up, With No Sign of Stopping from Curbed NY. Read more at http://t.co/e6wJjS9
- New York Experiences Decline in Transaction Volume; New Capital Comes to Market from Multi-Housing News. Read More at http://j.mp/n3HX18
No comments:
Post a Comment