kjuneja t1_j0oygfm wrote
Tldr: posh coops are allowing financing instead of all cash offers. Coop boards think this will increase prices. (It won't)
olli_bombastico t1_j0q6bha wrote
>The early response has been positive, if modest. Even if prices haven’t skyrocketed, the time Manhattan’s luxury co-ops are staying on the market has plummeted, dropping 49% in the second quarter from the same period a year before, according to an Elliman report.
Comparing the prices to those a year ago is a myopic approach to assessing the impact of introducing financing options. The home purchasing sentiment index is down 18% compared to a year ago across the entire country.
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