Why Manhattan Homebuyers Aren't Budging on Prices

The video discusses the bifurcated real estate market, focusing on new developments and resale trends. It highlights record prices in the resale market, particularly in New York City, and the impact of tight supply. The video also examines discounting practices and the reflective behavior in the high-end market, where sellers adjust prices to meet firm buyers. It concludes with an analysis of cyclical market patterns and aspirational pricing post-financial crisis.

What percentage of the real estate market is attributed to new developments?

• 75%

• 50%

• 25%

• 13%

In the high-end market, what is the approximate percentage of properties valued over $5 million?

• 30%

• 20%

• 10%

• 5%

What is a significant characteristic of the high-end real estate market in Manhattan?

• Decline in supply

• Rapid sales

• Increasing supply

• Stable prices

What term is used to describe the pricing behavior that emerged towards the end of the financial crisis?

• Rational pricing

• Aspirational pricing

• Market-driven pricing

• Discounted pricing

What was a key factor in the inflated prices during the aspirational pricing phase?

• Economic support

• Stable market conditions

• Incredible optimism

• Rational behavior