4 ms·
The very top of the market is already plummeting. I am talking about the nosebleed part of the market of 10+ million dollar apartments in new york, london and m
by hristov 10y ago
The very top of the market is already plummeting. I am talking about the nosebleed part of the market of 10+ million dollar apartments in new york, london and miami. These are already falling in prices as most hedge funders had a very bad 2015 and decided to liquidate some of their housing investments.
This effect should start working itself down the price ladder soonish. In new york developers are already splitting up mind bogglingly expensive apartments to form higher numbers of merely crazy expensive apartments.
So I would not be investing in housing that I do not need right about now.
- shostack 10y agoAt the upper end you see a lot more real estate purchases for investment purposes. At the lower end you see people wanting to buy their first home. That lower end demand is not going to disappear--do you have any data to suggest that this will in fact work its way all the way down to that lower end for people who are not "investing" in housing but instead buying a place to live?