Hell’s Kitchen is rising in popularity and home prices
Hell’s Kitchen is becoming more like neighboring Chelsea these days, according Christopher Ritchey, a real estate salesperson with Compass. “People are getting priced out of Chelsea and moving here,” he said. “It’s convenient — you can walk to Central Park or see a Broadway show."
View full article HERE
Number of US homeowners reaches 20-year low
“My seller has owned his current apartment for 11 years and decided that right now would be a great time for him to sell as the sales market in NYC is very tight,” said Chris Ritchey, another New York broker at Compass. The same client is now planning to rent for the next two to three years. Due to soaring housing costs, especially in larger metropolitan areas, even with almost doubling his original investment his quality of life would go down for what he could currently afford. He is betting, as many people are, that in the next few years housing prices will fall.”
View the full article HERE