Yahoo Finance reports that the average Manhattan apartment is over $2 million, while the median apartment is more like $1.1 million.
3 Explanations For This Discrepancy
- Donald Trump’s penthouse is driving up the average, in part, because like his net worth, he inflates the value of this suite by $6 billion dollars because it features chattels like artwork and Donald Trump.
- There’s no discrepancy: averages make better clickable headlines, even if they don’t mean very much!
- Apartments appraised by New York based banks – what could possibly go wrong?
Categories: Mildly Bad News