Hard to believe since NYC commercial building vacancy rates historically about 11% are now 20% vacant .... the city mismanaged coronavirus and adversely crushed small businesses
That has little to do with COVID and everything to do with long commutes from suburbs meaning a lot of people are workin remotely, because they can’t afford to live in the city.
The US housing market feels super Bimodal. Housing prices in most places are dropping heavily (after a huge rise during covid & low interest rates). But it's unclear what the state of major metropolises are.