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Friday, December 07, 2018

Housing market slowdown could be bad news for renters - Business Insider

Housing market slowdown could be bad news for renters - Business Insider: As the housing market cools down across the US, economists say rental prices could be set to rise.

Declines in residential-construction activity and rising interest rates are expected to compound historic housing shortages across the country, pricing an increasing number of Americans out of the market. Meanwhile, reduced mortgage-interest deductions and new caps on state and local tax deductions have reduced incentives for Americans to own homes.

How The Headlines Could Cause A Housing Market Crash

How The Headlines Could Cause A Housing Market Crash: In mid-2015, New York City made headlines for hosting two condominium developments offering, in addition to a variety of ultra-luxurious amenities, the extremely rare bonus feature of on-site parking. The price tag attached to what DNAinfo referred to at the time as the new “ultimate status symbol” was a cool $1 million. One building offered three of these spaces as add-ons in conjunction with a penthouse purchase, while the other had a handful available on a first-come, first-served basis. It was just one more piece of evidence to the collective population that you really cannot go wrong with New York City real estate.