The 2024 Manhattan Apartment Crash
When viewed from a continental perspective, this tiny speck of land might seem insignificant compared to the vastness of the United States. However, here in Manhattan, NYC, you'll find the most intriguing real estate market in the world. A market that has baffled experts and will illuminate what will likely unfold throughout the United States in the coming year.
We all know that Manhattan has some of the most expensive rents in the world, but recent developments have many experts warning of an impending real estate bubble of unprecedented proportions. According to StreetEasy data, at the start of 2018, the median asking rent in Manhattan was around $3230. This stayed sort of steady, rising slightly just before one of the most shocking events of the century. Following the pandemic, Manhattan prices dropped off a cliff bottoming out with a shocking 25% drop.
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