Other Cities Following in The Footsteps of the NY Real Estate Market

In previous posts, we have touted the fortitude of New York City’s real estate market as the reason it is our primary area of investment, but that certainly does not mean we haven’t noticed many other cities following in the footsteps of the New York market.
Many sources report boosts in real estate value as the population moves to major U.S. cities for better job opportunities and housing demands grow just as they do in New York. The Wall Street Journal reported examples of this in Silicon Valley where home values are set to rise 10% this year, and perhaps surprisingly, Phoenix, Arizona, set for an 11% raise. Luxury markets from Atlanta to Los Angeles are rebounding as international buyers now make up 20% of the investors, and the Chicago Tribune cites the property value for neighborhoods near downtown Chicago skyrocketing, as is the case in Armor Square, a whopping 70% increase this quarter.

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