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United States experienced huge market changes in Real Estate Market in New York 2020-2021. Let's find out about the reasons.<br>
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Real Estate Market Changes in New York 2020-2021
OUR RICH HISTORY The United States experienced huge changes between 2020 and 2021. The coronavirus, government mandates related to business closures, and changes in the economy contributed to several real estate market shifts in the past year. Needless to say, changes in New York were even more drastic.
The coronavirus devastated New York on many levels. New York City (NYC) was an early epicenter of the COVID-19 pandemic in the United States. By the end of March of last year, NYC’s infection rate was five times higher than the rest of the country, New Yorkers’ Health
Economic Change The loss of jobs brought in a recession that raised the levels of unemployment. The national unemployment rate In February - before the pandemic- was 3.5% and in New York City was 3.4%. By September 2020,
Real Estate Shifts During the past year, New York and the United States overall dealt with massive transitions. A great part of our citizens’ health and economy were devastated, and many say that even our civil liberties were challenged due to certain executive orders. Furthermore, the real estate market changed drastically between 2020 and 2021.
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