From the October issue: New Yorkers love to brag about the unique characteristics that separate the city from the rest of the country: Bagels, thin-crust pizza and fearless subway rats.
Housing is no different. Whether it’s a breakfast nook passing as a studio for rent or $100 million luxury condos, New York residents believe that housing here is distinct from real estate in any other U.S. city.
But recent data from one of the most-watched housing indices suggests that the city’s residential market is not that far off from the national one, where price gains are slowing down. [more]