- Posted at 2:34, January 04, 2014
- By QuidnuncRE Staff
This week’s 2013 sales figures, and especially, the mantra that the inventory is limited and the pace of sales will slow because there simply aren’t enough apartments to sell, has produced reams of mediat coverage.
QuidnuncRE presented the major reports as they arrived earlier this week HERE and HERE. The stories have continued, locally and nationally. Here’s our current favorite, from the “Inside Wealth” section of CNBC online: “New York is running out of luxury condos.”
The article not only has the 10 most expensive New York City residential sales of 2013, but also, using the Elliman Report--which is found at both links and is the principal source of the sales news--tells us that the foreigners are to blame for the condo price run-up, and that co-ops are being left behind.
There is an interesting clip from the CNBC cable network at the link, too, that features a panel discussion well worth watching. In it, co-op prospects fare poorly.
Another good one appeared early this morning in the New York Post: "$100M NYC Homes ‘a new market reality.’” The article's first paragraph: "Housing for the 1 percent is out of control." Available HERE.