Down Goes the Availability, Up Goes the Rent…
Falling vacancy rates, consequently increasing rental prices, record-setting inflation…nothing new or shocking, nothing fun to hear in this piece from Bloomberg. However, a modicum of comfort can be taken in that a) these trends are not NYC specific, but rather nationwide, so everyone can feel the market squeeze to which New Yorkers are accustomed (schadenfreude? sorry!), and b) in the face of these numbers, owning is becoming more and more attractive – for those, of course, able to purchase.
