From the NYT:
At the beginning of 2020, the real estate market the real estate market was still gaining steam. Sales prices had leveled off, but the rental market was strong. Then the pandemic turned everything upside down.
By the end of the year, the median rent had fallen to a level not seen since 2010, and hundreds of thousands of the most vulnerable renters faced the prospect of eviction. But sales were finally picking up, now deep discounts are the norm at the high end, and new developments across the city faced serious hurdles.
Developers and brokers, however, see hope in a stabilizing market, eagerly anticipating brighter days in 2021.
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