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Reload this Page NYC Housing Market Bounced Back In 2021
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Old 01-02-2022, 08:24 PM
 
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Commercial real estate is still in the dumps.
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Old 01-02-2022, 08:28 PM
 
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Originally Posted by Tiredofnyclife View Post
Commercial real estate is still in the dumps.
Deep pockets and banks willing to restructure loans. Would need sustained decline for 3-5 years to start seeing change.
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Old 01-03-2022, 06:33 AM
 
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In 2020, outside of Manhattan, people were buying left and right. It really sucked trying to find a house around that time---the competition was crazy. I think once the interest rates go back up a bit it will slow.
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Old 01-03-2022, 10:17 AM
 
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Originally Posted by Tiredofnyclife View Post
Commercial real estate is still in the dumps.
This is the bigger fiscal concern. Residential RE was always going to recover, If WFH stays perm and it very likely will, the city is going to have to come up with a way to offset the massive tax loss from decline in RE taxes. The loss of commuters will also lead to more financial issues for the MTA and closure of small businesses that rely on foot traffic.
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