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Manhattan Median Rents Haven’t Declined in 25 Months

…”I’m not sure what will change in the near term for either market,” says Jonathan Miller, our go-to graph guru, who prepares the report for Elliman. “I don’t see much relief in housing costs for New Yorkers on the sale or rental side.” Even if Manhattan rents are leveling out, it will be “at this very high level,” he explains….

…If Brooklyn continues to follow in Manhattan’s footsteps, Brooklyn renters can expect more of the same, Miller says, for at least another six months….

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