NYC Apartment Rents Are Dropping As Residents Leave In Droves

Apartment rents across New York City have been falling since March, and it could be a long time before they start to pick up again.

As people leave the city in droves, demand for rental units is down significantly and rent prices have taken a hit. With tens of thousands of new units currently in construction expected to hit the market over the next 18 months, experts anticipate rents will continue to drop well into 2021.

   ...more

RSK: They will be back...how soon is the question. Not sure we will have a mass exodus in our market but there will be some heading back home or to the burbs.



- - Volume: 8 - WEEK: 31 Date: 7/28/2020 9:32:44 AM -