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Promoted item:New York City NY - Empire State Building ca.1939 NYC postcard

New York City NY - Empire State Building ca.1939 NYC postcard

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About New York

The real estate statistics of the state of New York are strongly impacted by the heavily populated boroughs of New York City. It should be no surprise that, as a proportion of the total number of dwellings, there are more than twice as many multi-unit structures in the state of New York compared with the national rate. This indicates a very active market for rental properties. Although homeownership is 11 percent lower than the national average, this does not mean a sluggish residential property market. Residential property in New York is relatively expensive compared with New York median household incomes. Expensive housing indicates higher demand than supply. That is why large numbers of New York households prefer to rent. The sheer concentration of nearly nine million people in the state of New York creates an immense market for all kinds of commercial, industrial and retail real estate. Legendary fortunes have been made by many smart investors in New York City. Investing in real estate in New York is very different from elsewhere and is not for the faint-hearted--successful real estate investing in New York requires an in-depth knowledge of the peculiarities of the market.Upstate New York Real EstateThere are many excellent real estate investment opportunities outside of downtown New York City. In 'upstate' New York, there are quiet and upscale neighborhoods. There are also vacation homes, lake houses and condominiums. A premium real estate market exists in the area located on the eastern shores of Long Island known as the Hamptons.