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Factors effecting Manhattan Residential Real Estate prices:
- Health of the local economy
- Relative desirability of New York as a place to live
- US and worldwide population growth
- U.S. immigration policy
- Mortgage rates
- Foreign exchange rates
- New construction coming on the market
- Existing units coming off rent stabilization
Obviously, predicting and weighing out these factors is no small
task. And I'm not going to make any predictions about short term
fluctuations.
In fact, I'm not going to make any predictions about long-term
trends.
That said, I think decision making for many people should be relatively
easy. Buy or rent?
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