Real Estate Investing
April 15, 2017 - Housing Demand In Certain Areas Increasing Due to Uber and Lyft
Million Dollar Listing Star Says Everyone Taking Uber to Work Is Leading to a Housing Demand Surge By The Street
Ride-sharing services like Uber and Lyft are fueling a surge in demand for real estate in certain areas.
That's according to Ryan Serhant, a real estate agent at The Serhant Team at Nest Seekers International and a star of the hit TV show Million Dollar Listing New York.
Serhant said Uber and Lyft are boosting demand for housing in Brooklyn, a borough just outside of Manhattan, "more than anything."
"More than interest rates and more than the Trump rally," Serhant said. "Transportation at your door step - through your phone - is what has pushed outer borough real estate to new heights in the last two years."
Serhant said buyers are willing to move away from uber expensive housing markets like Manhattan and instead opt for Brooklyn, knowing that they can easily travel to work in Manhattan using car service apps.
That said, the Trump rally isn't hurting the real estate market.
Serhant said uncertainty surrounding the 2016 presidential election was one reason buyers delayed their home purchase.
With the election over and optimism about the stock market and tax reform surging, home buyers are overflowing with confidence.
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