Manhattan Median Apartment Rents Crash To Lowest Levels Since 2014
Zero Hedge -

Whether due to a massive flood of new supply or Trump's tax plan, which caps SALT, mortgage interest and property tax deductions, New York City landlords are suddenly in the unenviable position of having to slash rental rates to attract tenants. 

According to the latest rental report from Douglas Elliman, median rents in the Big Apple dropped 2.7% YoY in December...

...continuing a downward trend in rental rates that started last summer and leaving rates at their lowest levels since 2014. ...

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