Do we have front row seats for the end of the country’s most popular, most resilient, hottest-by-definition real estate market? We’ll look at the disturbing facts today. I’m Carole Ellis. This is Episode 30.
Is it really possible that the New York City real estate market could be in trouble? It’s hard to imagine. When you think “hot real estate” you may think of the west coast today, but when you think of the DEFINITION of high-end, high-value, nearly-always-appreciating real estate you’d love to own, you probably think of New York City. So valuable that it’s basically out of the realm of possibility for most owners. So rare it’s generally perceived as impossible to lose if you own it. As desirable as Coke stocks passed down through generations. Square footage in the Big Apple.
And now, it’s starting to look like the market to end all markets could be in serious trouble thanks to a dangerous overreliance on foreign investors, ultra-luxury buyers, and what has historically been an extremely solid winning strategy of ongoing development whenever and wherever possible.
Here are some troubling facts about NYC’s real estate market this year:
So what does this mean for NYC real estate as a whole? Well, it means that the top end of the market could be heading for serious trouble and, by extension, there is a grave threat to commercial development as well. Hotel expansion and retail expansion is presently keeping pace with the high-end luxury real estate expansion, and the entire thing is starting to look, well, a bit top-heavy. Business is booming now, but if you are investing in ANY area that relies heavily on Big Apple real estate to thrive, evaluate that deal carefully before you sink a lot of money into a long-term investment.
Want to know how to operate SAFELY in volatile and potentially volatile markets? The key is in the details. I’ll provide you with those details as well as a case study on the topic in the REI Today Vault today! Not yet a member? No worries! text REITODAY no spaces, no periods, to 33444 I’ll provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable.
And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now.
REI Nation, thanks for listening in and always remember this:
Your best investment is your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.