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Real Estate

“Manhattan apartment deals plunge 57%, suburban real estate surges”

“Apartment contracts in Manhattan fell by more than half in July, while deals in many New York suburbs more than doubled, showing a continued flight from the city over the summer.  

The number of signed contracts for co-ops and condos in Manhattan — the best real-time measure of activity — dropped 57% in July compared with a year ago, according to a report from Miller Samuel and Douglas Elliman. The high-end of the market is getting especially hard hit, with co-ops priced at $4 million to $10 million down over 75%…”

https://www.cnbc.com/2020/08/06/manhattan-apartment-deals-plunge-57percent-suburban-real-estate-surges.html

This is not a good time to be living in major cities. Move out. If not more than likely you’re going to lose money on your investment which in this case is your home.

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