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Upper West Side Real Estate Market Bulletin, October 2022 Edition – westsiderag.com

Market Summary

The Fed’s priority is to reduce inflation from its current 8.0% level to a target of 2 to 3 % to minimize stress on pensioners and other fixed income parties.  Unfortunately, its principal tool for doing this is

Raising interest rates, which is antithetical to the economy, creating a need to maintain a delicate balance economic health and the rate of inflation, and so far not succeeding to any degree.

Our real estate market has been sluggish for months, largely because of escalating interest rates, and it’s likely it’s likely that this malaise will continue for the foreseeable future.

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