While there is a ray of hope with the vaccinations, how long will it take for the real estate market to recover from the corovirus impact? Will it be this year, or will it take 2-3 years?
I have a feeling once things start returning to normal, prices in New York are going to be attractive for a lot of people who'll either want to relocate to New York City or maybe even people who lived in the outer boroughs who could never afford to live in Manhattan will want a go at it. It might be as soon as the end of this year. The rental market has already started pick up in Manhattan this month, but who knows if the covid cases and deaths start spiraling out of control, we might see a standstill again at least for a few months.