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Time to read [6 minutes] Takeways NYC’s October rental market remained extremely strong, with rents and bidding wars intensifying just before the mayoral election, defying headlines about a city “exodus” and outpacing the decade’s thirdquarter sales average by 4.3%. In sharp contrast to national trends—where rents fell at the fastest rate in 15 years, Manhattan, Brooklyn and Queens saw...
Time to read [8 minutes] Takeways Despite predictions of steep declines after the 2024 NAR and Sitzer‑Burnett settlements, buyer‑agent commissions have largely held steady or risen, supported by research from the Consumer Policy Center and the Federal Reserve. Slower sales cycles have increased demand for agent expertise and fullservice support, sustaining traditional commission structures even...
Time to read [7 minutes] Takeways Tariffs are a tax on Americans, driving inflation and keeping mortgage rates elevated The Supreme Court is expected to overturn the administration's tariffs as unconstitutional, which could help lower mortgage rates in a struggling US economy Tariffs have reduced housing affordability, yet their implementation lacked a tangible strategy My friend Barry Ritholtz...
Time to read [7 minutes] Takeways Highprofile articles shamelessly exaggerated outbound migration of wealthy New Yorkers by misinterpreting polls The claimed impact of Mamdani’s election is not based on existing empirical evidence but on viral, anecdotal broker stories. Actual market indicators and past experience, such as sales and rental trends, do not support predictions of a...
Time to read [4 minutes] Takeways A government shutdown and the resulting data blackout may delay the next Fed rate cut. Luxury housing markets are thriving despite the slowdown, as affluent buyers, driven by stock wealth, not mortgage rates, speed up highend home purchases. Areas like the Hamptons and NYC remain strong magnets for the rich, showing robust activity and little sign of a...
Time to read [6 minutes] Wall Street profits have surged for the second year in a row, fueling highend housing demand in NYC, the Hamptons, the North Shore of Long Island, and affluent suburbs like Greenwich, CT The NYC real estate industry is anxious about the incoming mayor’s “freeze rents” platform, with some pushing misleading narratives of wealthy residents fleeing the city—a claim...
Time to read [5 minutes] Starbucks’ Manhattan store closures reflect corporate strategy and lease flexibility, not weakening local housing markets, which remain marked by rising prices and rents. Specialty grocers and retailers like Starbucks, Whole Foods, and Trader Joe’s do not cause gentrification; they identify and enter areas already trending upward. These companies succeed by anticipating...
Time to read [8 minutes] Takeways About onethird of Manhattan condo resales sold for less over the decade, which is a typical outcome in stable markets. Many submarkets can show annual losses even when overall prices remain flat. Negativity bias drives market narratives; longterm data reveals limited real price gains in many cities. A recurring misunderstanding by many observers of housing...
Time to read [6 minutes] Takeways The leading NYC mayoral candidate proposes a rent freeze for over 1 million rentstabilized apartments, but more rentals are openmarket and would not benefit. Freezing rentstabilized rents pressures landlords to raise openmarket rents to cover growing operating costs, likely fueling rent hikes. Strict rent controls and removed renovation incentives risk pushing...
AI Is Here AI Is Over Hyped AI Is Not Going Away Time to read [7 minutes] I'm laying out some basics here and not recapping what AI is being used for in residential real estate. As someone who liked to live on the bleeding edge of technology, I always had to get the first iteration of something new, like the first iPhone on the day it was first launched. I always downloaded beta software updates...
The post 9-2025: Manhattan Months of Supply by Price (By Region) first appeared on Miller Samuel Real Estate Appraisers & Consultants. [...]
![[Podcast] Episode 4: What It Means With Jonathan Miller](https://millersamuel.com/files/2025/04/WhatItMeans.jpeg)
Episode 4 is out! I touch on the 2 scandals coming out of the Appraisal Institute and more on tariffs. I spoke at a new development real estate event in [...]
