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Manhattan home prices higher amid housing squeeze

…Most of the new homes being built in the city target the wealthiest 10% of buyers, said Jonathan Miller, of Miller Samuel, a New York-based appraiser who assembles Prudential Douglas Elliman’s market report.

“Land is too expensive,” said Miller. “It’s just not feasible to build anything but ultra-luxury apartments.”…

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#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
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