Covid rent relief program launches, mortgage rate hits record low, & more

By Jennifer White Karp | July 17, 2020 - 10:30AM

Advocates say New York’s newly launched Covid Rent Relief Program, which gives renters only two weeks to apply, is "cruel" and "terrible" (Gothamist)

Is postponing rent—instead of canceling it—only delaying inevitable evictions for a large number of New Yorkers? (CityLimits)

A record high 34.7 percent of Manhattan rental listings were discounted in the second quarter, leading to the first year-over-year drop in Manhattan rents since the Great Recession (StreetEasy Blog)

A Long Island City condo that sold for $3,451,000 is the most expensive condo sale in Queens since 2018 (press release)

U.S. mortgage rates fell to a new record low. The average rate for a 30-year loan dropped below 3 percent for the first time in 50 years (AP)

Co-living executives are predicting a tough 12 to 24 months (Business Insider via The Real Deal)

Jennifer White Karp

Managing Editor

Jennifer steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in New York City real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC.

SEE MORE BY Jennifer White Karp »

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.