How can an excess of new, luxury apartments be pushing up prices? This makes no sense!

Gather ’round, all, for everyone’s favorite time: the moment of the month when we talk about how utterly hopeless and depressing New York City real estate is. Except, this…
http://ny.curbed.com/archives/2016/02/11/glut_of_luxury_rentals_is_driving_up_apartment_prices_in_nyc.php

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