Matrix Blog

Rentals, Investing

[Three Cents Worth #290 NY] Tracking 24 Years of Manhattan Sales and Rental Prices

August 23, 2015 | 6:09 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

It’s been a while since I dropped in on Curbed with a Three Cents Worth post but since I’m currently huddled next to an air conditioner, I really needed to take my mind off the heat and humidity. I thought I’d reach back into history and trend the year-over-year changes in the Manhattan sales and rental markets. I presented the median rental price and median sales prices by quarter back to 1991 measuring their year over year percent change. I’m surprised I haven’t done this before since there is so much discussion about the relationship between the two markets, and whether it’s better to rent or buy…

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My latest Three Cents Worth column: Three Cents Worth: Tracking 24 Years of Manhattan Sales and Rental Prices [Curbed]

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Record Queens Condo Prices: Bigger Than Crises in Greece, China

July 9, 2015 | 9:51 pm | delogo |

Rental_0615Douglas Elliman published our research today covering Queens sales, Brooklyn sales Westchester/Putnam sales as well as the rental market for Manhattan Brooklyn & Queens. You can download the reports and more at Douglas Elliman’s market report page.

Like last week’s Manhattan report, there were lots of records set and it wasn’t simply the influence of high end sales – prices were up across the board in most markets.

Incidentally, the Bloomberg News article that covered record Queens condo sales was the second most emailed story world-wide. It stoked more interest than the finance crisis in Greece and the recent Chinese stock market gyrations. Apparently only “investors with satellites” was a more popular read.

Idea (?) for next quarter: Talk about drones and investors in the Queens housing market.

2q15queensrptBLOOMBERGTERMINALS

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Knight Frank: Moscow Rents Dropped 42% YoY in US Dollars

July 6, 2015 | 2:40 pm | kflogo | Reports |

Knight Frank just published their 1Q 2015 Prime Global Rental Index. We provide the U.S. info. Always a fascinating read.

Especially this:

In Moscow, prime rents have historically been US Dollar denominated but the weakness of the Rouble against the US Dollar has led an increasing number of landlords to swap their rents into Roubles. In US Dollar terms prime rents fell 42% on an annual basis but by only 5% in Rouble terms.

Here are the world rankings:

KFPGRI1q15table

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[Three Cents Worth #289 NY] Proof: Summer Is the Hardest Time to Rent in New York City

June 25, 2015 | 11:07 pm | curbed |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

This week I thought I’d dig out some of the residual stuff from last week’s rental report to explore the vacancy hyperbole. As far as I know, firms that present the vacancy rate (including mine) use a sampling of buildings from different neighborhoods/regions of Manhattan where building rental status is continually updated. The bottom line—and a reality check—is that the vacancy rate has always been low. It’s remained below 5 percent since at least World War II. (At least that’s what I’ve read; I only started writing for Curbed circa 2004.)…

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My latest Three Cents Worth column: Three Cents Worth: Proof: Summer Is the Hardest Time to Rent in New York City [Curbed]

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Bloomberg View Column: Costly City Housing Is an Economic Drag

June 3, 2015 | 6:12 pm | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column Costly City Housing Is an Economic Drag.

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Here’s an excerpt…

It’s tough living in a big city — the people, the traffic, the noise. Oh, and did we mention the cost of housing? Contrary to conventional wisdom, high and rising housing costs in the U.S.’s biggest cities are not ideal for an economic recovery. Just the opposite: When housing costs take a big bite out of incomes, it diverts money that could be spent on local goods and services or invested in new businesses that stimulate growth…

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[Three Cents Worth #287 NY] Tracking New York Rents and Asking Prices Over a Century

June 3, 2015 | 6:04 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

Back in 2011, I embarked on a fun research project for Douglas Elliman’s 100th anniversary, in which I traced how sales prices and rents changed since the 1910s. I explain in detail how I did the research here, but I ended up with a very loose proxy to represent price per square foot for sales and average monthly rents during each decade…

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Here are some other ways to view the 100 year trend based on feedback from readers.

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My latest Three Cents Worth column: Three Cents Worth: Tracking New York Rents and Asking Prices Over a Century [Curbed]

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[Video] Why The Rich Get Richer

May 4, 2015 | 11:05 am | wsjlogo |

Here’s one way to look at it.

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Bloomberg View Column: Invest in a Painting, Not a Condo

May 4, 2015 | 11:00 am | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column Invest in a Painting, Not a Condo.

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Here’s an excerpt…

A couple of weeks ago, Laurence Fink, the chief executive officer of BlackRock Inc., observed that “the two greatest stores of wealth internationally today is contemporary art … and apartments in Manhattan, apartments in Vancouver, in London”…

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VIDEO: Fox Business Risk & Reward w/ Deirdre Bolton 2-18-15

February 2, 2015 | 8:00 pm | foxbusiness | TV, Videos |

Always a pleasure to join Deirdre Bolton and talk housing.

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VIDEO: Fox Business Risk & Reward w/ Deirdre Bolton 12-31-14

December 31, 2014 | 5:42 pm | foxbusiness | TV, Videos |

Came into the city on the last day of 2014 to join Deirdre Bolton on her Fox Business show Risk & Reward to talk housing rents and 2015 with a dash of $50M+ sales in New York. Always fun.

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VIDEO: Fox Business Risk & Reward w/ Deirdre Bolton 12-11-14

December 26, 2014 | 2:31 pm | foxbusiness | TV, Videos |

Was nice to join Deirdre again to talk housing, specifically why rents are rising and buyers are falling.

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[Three Cents Worth #273 NY] Three Cents Worth: No Relief In Sight For New York Renters

November 29, 2014 | 8:45 pm | curbed |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

Before the tryptophan kicks in on Thursday, I thought I’d present the rental market trends for Manhattan, Brooklyn, and Queens coverage in another way. Because of seasonality, I tend to rely on median rental price compared to the same period a year ago. I applied a 90-day moving average as a trend line for each of the markets to help show where these markets seem to be headed…

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My latest Three Cents Worth column on Curbed: Three Cents Worth: No Relief In Sight For New York Renters [Curbed]

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