The barrier for entry into the housing market today has risen so much that even wealthy people are holding off on buying homes. A 2018 study from the Joint Center for Housing Studies of Harvard University found that high-earners were increasingly renting. Buzz60
Another billionaire has moved the needle on New York City’s real estate market.
The average home sales price in Manhattan was $100,000 higher than it would have been in the first quarter, thanks to a $238 million condo purchased by hedge fund billionaire Ken Griffin.
During the first three months of the year, the average price was $2,118,780 – 7.9% higher than the previous quarter and 9.6% more than a year