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Zero Hedge 07/05/2020 17:30
Manhattan Apartment Sales Plummet, Worst In Three Decades. Sun, 07/05/2020 - 17:30. The and social unrest have sparked an exodus of city dwellers to rural communities and towns. Remote access for work, and the recession, coupled with high unemployment, will extend this outbound emigration trend for the next several years as people seek cheaper living accommodations ex-metro areas. It appears the factors mentioned above have dealt a heavy blow to the Manhattan real estate market, which suggests a correction in apartment prices are ahead. Manhattan apartment sales plunged 54% in 2Q20 compared with the same period last year, marking the most significant decline in 30-years, according to . The median sales price fell 18% to $1 million, the larges.

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