Can Anyone Explain What is Going on in the NYC Housing Market
Some recent stats
128 Homes Valued at $25M or more (one unit sold at $100M last month)
It seems like out of nowhere, people in NYC are all of a sudden paying completely nonsensical prices for housing. And this is only the beginning. There are 6 new towers under construction that will all be more expensive a luxurious that anything in NYC currently.
Why is the happening now? I know the wealth disparities have grown in recent years, but this all seems to have happened in the last 6 months.