05-03-2012
http://www.globalresearch.ca, by Bob Chapman
Real estate investors competing to buy Manhattan apartment buildings have sent prices to record highs as rental demand surges, reducing yields on the properties to the lowest in more than six years. The capitalization rate, a measure of investment return that declines as prices rise, averaged 4.4% for Manhattan multifamily buildings in first three months of this year Its the strongest of all asset classes, said Doug Harmon, senior managing director at Eastdil Secured LLC There is still plenty of room to run on rents, and I see absolutely no reason why this action will or should stop anytime soon.
