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Is NYC a Tulip Market waiting to crash?

Looking at a gorgeous loft in brooklyn that sold for 390K in 2010, then 750 in 2015, now they’re asking for almost 900.

In ten years this unit more than doubled, how high can it go? Rental prices don’t match the buyers price tag, a 500-600K unit is 3K a month as a rental, while 1% of the home value would be 5 or 6K, it seems like the market is created by buying and holding hoping it will double or triple in a short amount of time.

submitted by /u/myfriendsfoundme-1tm
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source https://www.reddit.com/r/RealEstate/comments/gsm3fd/is_nyc_a_tulip_market_waiting_to_crash/
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