Matrix Blog

Posts Tagged ‘New York City (5 Boroughs in Aggregate)’

Manhattan Diverged From NYC At US Housing Boom Peak

February 14, 2013 | 10:54 am | trdlogo | Charts |


[click to expand]

As the above chart illustrates, the aggregate median housing price in New York City, based on co-op, condo and 1-3 family property sales, with and without Manhattan sales go their separate ways circa mid-2006, at the Case-Shiller Home Price Index peak of the national housing market. This also makes the decline in the New York Case Shiller HPI all that more maddening (because it’s not Manhattan, or co-ops or condos or new development and includes Long Island, Fairfield, Westchester, Northern New Jersey and a county in Pennsylvania).

The market share for new development sales in Manhattan peaked in 2Q 06 at 57.9%. The 4Q12 market share was 12.5% but fear not, more new development is coming per The Real Deal.

During the boom through today, the shift in the mix towards Manhattan luxury property, largely from the combination of new development activity as well as vigorous Wall Street and international demand has expanded the difference between Manhattan and the rest of New York City. In other words, the gain in median sales price for NYC was caused by a shift in the mix toward higher end properties.

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[NYTimes] What Could Disappear Interactive Charts

December 4, 2012 | 10:00 am | nytlogo |

I’ve been remiss in not presenting the now week old interactive web page on the New York Times site called, alarmingly, What Could Disappear.

These maps are based on elevation data from the U.S. Geological Survey and tidal level data from the National Oceanic and Atmospheric Administration. Maps show the extent of potential flooding relative to local high tide. The 25-foot sea level rise is based on a 2012 study in the journal Science…

I think Sandy brought this conversation front and center in NYC. The Bloomberg administration brought this issue up last year.

While we are talking hundreds of years for an ominous 25 foot increase in sea levels, it’s a wake up call for cities located in low lying areas. How does this impact the future of real estate in these areas?



What Could Disappear [New York Times]

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