{"id":1968,"date":"2007-01-03T10:28:50","date_gmt":"2007-01-03T18:28:50","guid":{"rendered":"https:\/\/www.bridgeandtunnelclub.com\/wordpress\/archives\/2007\/01\/good_newsbad_news.html"},"modified":"2007-01-03T10:28:50","modified_gmt":"2007-01-03T18:28:50","slug":"good_newsbad_ne","status":"publish","type":"post","link":"https:\/\/www.bridgeandtunnelclub.com\/blog\/archives\/2007\/01\/good_newsbad_ne.html","title":{"rendered":"Good News\/Bad News"},"content":{"rendered":"<p>The good news is that the Manhattan real estate market is crashing. The bad news is that <a href=\"http:\/\/ny.metro.us\/metro\/local\/article\/Average_Manhattan_apt_12M\/6389.html\">it&#8217;s not crashing enough<\/a>:<\/p>\n<blockquote><p><em>The cost of a apartment remains steep, according to two real estate reports released today for the final quarter of 2006. The average price was about $1.2 million. That&#8217;s 3 to 5 percent higher than a year ago, but 3 to 5 percent below the third quarter of 2006.<\/p>\n<p>Prices tend to slip at the end of the year, explained Jonathan Miller of the residential appraisal firm Miller Samuel. &#8220;But we saw a real uptick in transactions in the fourth quarter, which is unusual,&#8221; he said.<\/p>\n<p>Sellers came down in their pricing last quarter by nearly 4 percent, Miller said. &#8220;They had been pricing their listings as if the market were still appreciating at a 20 percent clip, instead of at a single-digit clip. Anecdotally our impression always was there was a lot of money on the sidelines.&#8221; Potential buyers who had decided to wait saw their rents rise.<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The good news is that the Manhattan real estate market is crashing. The bad news is that it&#8217;s not crashing enough: The cost of a apartment remains steep, according to two real estate reports released today for the final quarter of 2006. The average price was about $1.2 million. That&#8217;s 3 to 5 percent higher [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1968","post","type-post","status-publish","format-standard","hentry","category-manhattan"],"_links":{"self":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/1968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/comments?post=1968"}],"version-history":[{"count":0,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/1968\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/media?parent=1968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/categories?post=1968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/tags?post=1968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}