Yesterday, Oshrat Carmiel’s real estate piece: Manhattan Homes Under $3 Million Never Harder to Buy hit the terminals and web site rising almost immediately to the most emailed and most read article of the day. The starting point for her article was based on my firm’s data – extracting the luxury market data from the overall market – to observe what’s happening to “non-luxury” real estate. I define luxury real estate as the top 10% of all sales prices in a period. This analysis looked at the remaining 90% and as it turns out – the Manhattan market is a lot tighter there.
I had a fun discussion with Erik Schatzker and Alix Steel about the “non-luxury” Manhattan market on their Bloomberg TV show “Market Makers.”
As of today, the Bloomberg article is still the most read on Bloomberg worldwide. Apparently there is interest in the housing market beyond the super wealthy’s real estate exploits.
It was a busy day.