"One of the things that we're seeing is we're seeing buyers not budge" on price, says Jonathan Miller, an appraiser and New York real estate gadfly with the firm Miller Samuel. "And finally after 2-3 years of this disconnect with sellers, we're starting to seeing sellers or landlords travel farther" down in price "to meet the buyer. They're not meeting in the middle, they're skewing towards the buyer, because the buyer's sitting, waiting."
Sounds encouraging, right (assuming you're not selling your apartment)? Well, this phenomenon is concentrated in the upper reaches of the market in terms of pricing, and the recent passage of the GOP tax bill is bringing a whole lot of uncertainty into buying, renting, and selling in 2018, at all price levels.
We sat down with Miller to talk over what effects he expects from tax overhaul and other big factors he's watching in the coming year. Here's what he had to say.
As mentioned in this episode, here's our guide to the 12 best Manhattan landlords, ranked by their maintenance records. And send us your real estate questions here. We may answer them on the podcast, or elsewhere on the site.
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