Jonathan Miller

2 Followers
7 Following
69 Posts
#Housing analyst #realestate #appraiser blogger @Columbia prof, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
"The market has shifted and you can expect rents to stay relatively stable in the coming months" NYC rents dipped slightly last month and that’s pretty much as good as it gets for renters per our @douglaselliman report via @bricku @jenniferwkarp https://www.brickunderground.com/rent/nyc-manhattan-brooklyn-queens-rental-market-report-september-2023?utm_content=buffer5981c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
NYC rents dipped slightly last month and that’s pretty much as good as it gets for renters

'Rents have to give.'

Brick Underground
"Prices are down from record highs, competition is easing and listing inventory has climbed..." Manhattan Apartment Hunters Finally Get a Break With Falling Rents per our @douglaselliman report via @bloombergbusiness @jeneps https://www.bloomberg.com/news/articles/2023-10-12/manhattan-apartment-hunters-finally-get-a-break-with-falling-rents?sref=aUojqIWm&utm_content=buffered4b9&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer#xj4y7vzkg
"This is likely a sign that more New Yorkers are choosing and able to afford to stay where they are." Rents hit record highs again, but the end seems to be in sight per our @douglaselliman report via @eddie_small @crainsnewyork https://www.crainsnewyork.com/real-estate/new-york-rents-hit-record-highs-again-end-seems-sight?utm_content=buffer59cc5&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Rents hit record highs again, but the end seems to be in sight

Manhattan's median rent stayed flat from July to August at $4,400, while Brooklyn's fell to $3,850, and Northwest Queens' rose to $3,900.

Crain's New York Business
"landlords seem more focused on retaining their tenants than bringing new ones in" New York City Rents Are Through the Roof per our @douglaselliman report per @trdny @EllieHotel_ing  https://therealdeal.com/new-york/2023/09/14/new-york-city-rents-are-through-the-roof/?utm_content=buffer10c3e&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
New York City Rents Are Through the Roof

The city may be reaching a breaking point on affordability.

The Real Deal
"New lease signings and listings plunge" More tenants chose to renew in August as rents for new leases in NYC hit record highs per our @douglaselliman report via @jenniferwkarp @bricku https://www.brickunderground.com/rent/nyc-manhattan-brooklyn-queens-rental-market-report-august-2023?utm_content=bufferc3c76&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
More tenants chose to renew in August as rents for new leases in NYC hit record highs

The market share of concession is the lowest since 2015.

Brick Underground
'renters may have reached their “affordability threshold” in August' Manhattan median rent remains at record high of nearly $4,400 a month per our @douglaselliman report via @robtfrank @cnbc https://www.cnbc.com/2023/09/14/manhattan-median-rent-remains-at-record-high.html?&qsearchterm=Manhattan%20median%20rent%20remains%20at%20record%20high%20of%20nearly%20$4,400%20a%20month&utm_content=buffer61863&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
The market has entered an affordability threshold - Manhattan Rental Market ‘Topping Out’ as Prices Hover at Records per our @douglaselliman report via @jeneps @business https://www.bloomberg.com/news/articles/2023-09-14/manhattan-rental-market-topping-out-as-prices-hover-at-records?sref=aUojqIWm&utm_content=buffer6501d&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Manhattan Rental Market ‘Topping Out’ as Prices Hover at Records

Apartment demand is showing signs of easing with costs plateauing after months of increases.

Bloomberg
'rents will likely "hover at an elevated level"' City sees record rents across the board once again in July per our @douglaselliman report via @eddie_small @crainsnewyork https://www.crainsnewyork.com/real-estate/manhattan-brooklyn-queens-see-record-rents-across-board-once-again-july?utm_content=bufferbe0a5&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
City sees record rents across the board once again in July

The median rent hit $4,400 in Manhattan, $3,950 in Brooklyn and $3,641 in northwest Queens, according to the latest Douglas Elliman report.

Crain's New York Business
"consumers are beginning to hit the threshold of what they can afford" Manhattan rents soar to another record high in July at nearly $6K — but may be ‘approaching peak’ per our @douglaselliman report via @shannonthaler @nyposthttps://nypost.com/2023/08/10/manhattan-rents-soar-to-another-record-high-in-july-but-may-be-approaching-peak/?utm_content=bufferc4c95&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
"That pullback signals some tenants can no longer stomach New York’s astronomical cost of living" As July Rents Notch Record, Tenants Pullback on Signings per our @douglaselliman report via @suzannahcav @trdnyhttps://therealdeal.com/new-york/2023/08/10/as-july-rents-notch-record-tenants-pullback-on-signings/?utm_content=buffer0e141&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer