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Manhattan Rentals (Inflation Adjusted)

Posted By Barry Ritholtz On July 14, 2011 @ 12:14 pm In Digital Media,Inflation,Real Estate | Comments Disabled

Jonathan Miller of Matrix RE released a rental study of Manhattan real estate [1]:

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 [2] 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


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2011/07/manhattan-rentals-inflation-adjusted/

URLs in this post:

[1] Manhattan real estate: http://matrix.millersamuel.com/?p=11248

[2] Curbed: http://ny.curbed.com/archives/2011/07/08/manhattan_rents_still_headed_up_with_no_sign_of_stopping.php

[3] Image: http://www.ritholtz.com/blog/wp-content/uploads/2011/07/Manhattan-RE.jpg

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