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I'm not so sure about that. How many Americans from other parts of the country don't move to NYC because rents are too high? For every person that leaves NYC, there's another person waiting to move in.
As long as crime remains low, I don't see the needle moving much.
NYC may remain comparatively expensive, but policy changes like tax credit revisions, interest rate rises, crackdown on illegal immigrants, could indeed influence the market.
Central Queens! Woodside, East Elmhurst, Jackson Heights, Elmhurst, Corona, and Flushing are where most of the illegal immigrants live. Western Queens (LIC and Astoria) doesn't have much, nor does Eastern Queens (the suburban like neighborhoods east of Jamaica). Middle class enclaves like Rego Park, Forest Hills, Kew Gardens don't have many illegals either, at least not to the extent of Central Queens.
Trump The Builder, has now become the official president-elect
Just to be pedantic, he won't be the official president-elect until the electoral college meets next months. For all intents and purposes, he is though.
NYC may remain comparatively expensive, but policy changes like tax credit revisions, interest rate rises, crackdown on illegal immigrants, could indeed influence the market.
Well said. The name of the present him/herself won't be the factor impacting the market. It will be the policy changes on taxation and Fed interest rate movements.
I'm viewing any market 'dips' as clear buying opportunities. Presidents come and go, but NYC will always be one of the most desirable global economic and cultural hubs to call home.
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