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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 19 4:00 PM EST

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To: bobby beara who wrote (35961)	12/24/1999 8:31:00 AM
From: Haim R. Branisteanu	Read Replies (1) of 99985

BB, from the FED's Beige Book - There is NO INFLATION, In New York State, while single-family existing home sales slipped below year-earlier levels in October, the average selling price has risen 8 percent over the past 12 months. Moreover, both the sharpest declines in unit sales and the steepest increases in selling prices were recorded in and around New York City. This is consistent with ongoing complaints from realtors of plenty of buyers but not enough sellers. Similarly, average selling prices for prime Manhattan co-ops and condominiums are reported to be up 10-15 percent from a year ago, with the steepest gains on smaller units. Similarly, a major Manhattan realtor reports a persistent shortage of rental housing, with rents running 10-20 percent higher than a year ago. Reports from other parts of the city suggest comparable increases. bog.frb.fed.us In NYC are typically around 25% to 30% of one's gross income - will leave for you to calculate free buying power! Replay of 10 years ago. BWDIK Haim

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