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Renters in Manhattan are pushing back against exorbitant prices

Renters are increasingly rejecting the surge in rental prices in Manhattan. In September, the median rental price fell 1.2% to $3,396 year-over-year, according to a report from Douglas Elliman Real Estate released on Thursday. T his was only the second time in 2016 that the median rent fell. It was flat in August, Bloomberg noted. A quarterly report from the same firm released earlier in October showed that the number of sales fell 18.
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