I think you are misreading the statistics. Asking prices for vacant apartments are down, but that is less than ten percent of the housing stock. Rents on occupied apartments, which is the vast majority of the market are not going down, and even rent-controlled ones saw an increase. When the virus is behind us, the 100,000 plus jobs connected to Broadway will return, as will the jobs in the travel industry. While I doubt we will see the boom in Brooklyn, LIC, and Astoria that the last decade saw, this is a great time to pick up property. With the students not being on campus, landlords around college campuses are especially hurting. With trump gone, NYC will benefit from a return to the normal refugee influx.olds442jetaway wrote: ↑Sat Jan 02, 2021 3:35 pmRents are actually down by 15-20 percent for apartments from last year Besides everything already written about, one of the biggest problems New York is facing is the people with money are leaving. I don’t think they can expect too much help from the feds either. The Fed just can’t keep printing money forever
Better days are coming. It's starting to look more and more like Andrew Yang will run for mayor.
He's got some interesting policy proposals that might be perfect to try in the Big Apple.