Jonathan Miller of Matrix RE released a rental study of Manhattan real estate:

Last week we released our rental study and the consensus was that the rental market was strong, better than the sales market (and expensive). So I thought I’d present the past 20 years and look at some of the peaks. When adjusted for inflation, the perspective of when peak was actually changes quite a bit.

Curbed has argued Manhattan rents are rising, but as Jonathan points out, that is before you account for inflation. Back out CPI price increases, and you end up with a different view of NYC rental prices. As Jonathan notes, “adjusted for inflation – we have a long we to go before we see actual peak numbers.”


click for larger graphic

Category: Digital Media, Inflation, Real Estate

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “Manhattan Rentals (Inflation Adjusted)”

  1. Super-Anon says:

    It could get ugly once the FIRE economy finally “flames out”.

  2. bronxboy57 says:

    Sorry that I’m confused. But I’m interpreting this graph as showing that the red line represents nominal rents while the blue line is the “real” inflation adjusted rent. Therefore shouldn’t the blue line be lower than the red to reflect real rents which in inflation adjusted terms would obviously be lower?

  3. champs2011 says:

    Graphic on News of the world. Why people believe this man will be back

  4. machinehead says:

    1Q 2000 — inflation-adjusted peak in stocks
    1Q 2001 — inflation-adjusted peak in Manhattan rents

    Corroborating evidence of an economy in secular decline.


  5. machinehead says:

    bronxboy — inflation adjustment RAISES nominal values from long ago, to express them in today’s depreciated dollars.

    Try this inflation calculator: $70,000 in 1980 dollars is $191,960 in 2011 dollars.

  6. VennData says:

    Are you trying to tell me half of the apartments in Manhattan are under $2,896? Can you please give me a list of the available one(s)?

  7. champs2011 says:

    Hilarious moment as Nancy Pelosi compares Barrack Obama to Job in Bible and says Obama is greater.

    Am falling off the chair here. What a nut!!!