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Bloomberg View Column: When $7 Million Is Average for Manhattan

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Read my latest Bloomberg View column When $7 Million Is Average for Manhattan [2]. Please join the conversation over at Bloomberg View. Here’s an excerpt…

It’s pretty much universal knowledge that Manhattan real estate is expensive. What isn’t so well known is what’s happening at the top of the market: Price increases have been crazy.

Ever since the financial crisis, housing prices for the most-expensive 10 percent of the Manhattan market have increased more than 15 percent. Compare that with the modest 2.5 percent gain for the remaining 90 percent of the market….

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