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Why New York City Needs 700,000 New Apartments

Why New York City Needs 700,000 New Apartments

According to a report by NYC’s HPD and Department of City Planning, New York City faces a shortfall of 700,000 homes over the next decade. Explore how historic building booms like the 1920s tax exemption compare to today’s inventory crunch—and what real estate scarcity means for buyers, sellers, and property values in Manhattan.

Is $1 Million Still a Lot of Money in New York City?

Is $1 Million Still a Lot of Money in New York City?

While $1 million remains a significant sum, inflation has dramatically eroded its purchasing power over time. Discover how inflation alters property value, why a fixed-rate mortgage can turn inflation into an asset, and how unadjusted thresholds like NYC's 1989 Mansion Tax impact today’s Manhattan real estate market.