Alex Trautwig/GettyThe Federal Reserve on Wednesday supported recent data showing some worrying trends in parts of Manhattan's real-estate market. The Beige Book compiled anecdotes from contacts of the 12 regional banks, including the Federal Reserve Bank of New York. It is not a hard data release. "New York City's rental market has been mostly steady, except at the high end, where the inventory has risen and rents have drifted down," according to the Beige Book. There are too many luxury apartments in the city, with more developments still rising from the ground.
Comment on The Fed confirmed some of the most troubling trends in Manhattan real estate
aoyedele@businessinsider.com (Akin Oyedele), Business Insider
Sat, 12/03/2016 - 8:31am
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