Don’t Worry, There is no Bubble in NYC
Snip
“When asked what prices will look like next year, the panel said, “It is doubtful that [real estate] prices will see a severe decline, there may be a short correction, but prices will continue to climb in the next few years, as the demand for housing increases from wealth and investment from around the world.” The declining dollar has also contributed to the rising costs of NYC housing. The stock market has also seen some of its best performance in the last two years.
Though it is doubtful that current owners are selling purely based on the speculation of a housing bubble in NYC, they can be rest assured that the price of real estate will not see a dramatic decline in the coming months. The media will likely continue following this story, thereby contributing more to the speculation, and making buyers more anxious. Buyers should always follow the advice of holding property for a minimum of 5 years to reduce market risks.”
Full article
“When asked what prices will look like next year, the panel said, “It is doubtful that [real estate] prices will see a severe decline, there may be a short correction, but prices will continue to climb in the next few years, as the demand for housing increases from wealth and investment from around the world.” The declining dollar has also contributed to the rising costs of NYC housing. The stock market has also seen some of its best performance in the last two years.
Though it is doubtful that current owners are selling purely based on the speculation of a housing bubble in NYC, they can be rest assured that the price of real estate will not see a dramatic decline in the coming months. The media will likely continue following this story, thereby contributing more to the speculation, and making buyers more anxious. Buyers should always follow the advice of holding property for a minimum of 5 years to reduce market risks.”
Full article
posted by Little_Silvered at 7:16 PM
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