Miller Samuel CEO Expects Weaker Year for Manhattan Real Estate

The video discusses the uncertainty in the Manhattan real estate market, primarily due to tax laws like the mansion tax. Despite booming employment and declining interest rates, affordability issues have led to a slowdown in home sales. Inventory growth is noted in the studio market, indicating less demand. The market is experiencing a shift from high-end to more affordable segments, with new developments seeing significant corrections. The market is undergoing a reset, returning to a more sustainable state.

In what ways has the inventory growth in Manhattan changed recently?

What does the term 'market reset' refer to in the context of the Manhattan real estate market?