MAP: Renters vs. Owners – Where Are They & How Does New York Compare

Curbed.com recently pulled census data showing just how many New Yorkers – all 8,336,697 of them – own their apartments. Not surprisingly, the percentage was significantly under the surrounding area and national averages. Just 32.6% of New Yorkers own property. Manhattan chimed in with the lowest ownership rate, while the other boroughs reported slightly higher ownership rates, especially on the fringes of New York City proper.

A high rental population comes as the price of real estate in New York keeps climbing out of control. Many would be home buyers simply cannot afford the million dollar price tag that comes with almost every Manhattan listing. In addition, a population like that of New York City is significantly more fluid. With so many transplants moving into the city not knowing if or how long they will stay in New York, renting is clearly the next best answer. The map can be expanded outward to include the entire country. Take a look at everything here: http://www.census.gov/censusexplorer/censusexplorer.html

Pretty interesting information – as renting becomes more and more popular in the United States, expect home ownership to continue to decline.

Life of a New York City Realtor

The glitz and glamour that is often associated with the world of New York City real estate is something that draws thousands into the industry each year.  The funny thing about New York is that not everything is as it seems.  I have found that this city is 100% built on raw talent.  Sure your well-connected parents can get you a job, but it is your job to learn the traits, network, and excel.  The true innovators in this city are aggressive, fierce, and not afraid to speak their mind.  Nowhere else do these statements hold more accurate than in the world of residential real estate.  This is not a business for the light-hearted, easy-going, average Joe.  You have to be willing to send emails at all hours of the day, scavenge, and flat out work.

Many fall into this industry because they see the potential for fast cash.  While that may be true, especially during the summer month’s, the true leaders in this industry have tried and true methods that have landed them listings upwards of $100 million.  This blog is a daily journal of my accounts in real estate.  I try to be as “real” as possible, something that is very easy to get lost in when talking about real estate.  I will put the struggles I have as a realtor, the struggles my clients have as renters, buyers, sellers, and investors, and will also spotlight neighborhoods, cool articles, and trends happening in the city.  Feel free to tag, post, like, share, or suggest anything you feel should be on this blog.  We are connected 24/7 with the Internet always at our fingertips, be sure to let me know what you think!

And remember, a referral is the greatest compliment anyone working in real estate can receive!