Need news in a flash? Here’s what’s happening in your community

New York City had a reported mortgage rate of 3.70 percent in the second quarter of 2016, according to HSH.com. However, New Yorkers will have to make quite a bit to afford the average monthly payment of $2,011.69, HSH says. The website’s study showed NYC residents need a salary of $86,215.44 to afford a property.

homebuyer salary requirements with mortgage rates

This fall, Reed Midem and MetaProp NYC are joining forces to deliver the first North American MIPIM PropTech Summit during Real Estate Tech Week in New York City. Presenting influencers and industry executives, MIPIM PropTech offers real estate market projections and discussion on the considerable influence of tech in real estate.

A new report from Dodge Data & Analytics shows new construction starts in the commercial and multifamily sector down 5 percent nationwide. Following a banner year in 2015 thanks to major projects in NYC, the first half of 2016 shows signs of leveling off. This year, there have been only two new construction starts valued at or over $500 million nationwide, and neither of the two are in the Big Apple.

Got a lead on some news happening in your community? Send information to local@inman.com

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription