"This shift is more than a workaround for mortgage rates. StreetEasy's report found that 56% of prospective buyers are planning to purchase with a co-buyer. Out of that number, 9% will team up with friends and 6% with relatives. That "third way" of co-ownership-neither solo nor coupled-is about to help reshape how homes are bought and how life is lived in NYC's tight market."
"Many of these buyers are eyeing multi-family properties with separate units that support both independence and cooperation. Shared ownership lets co-buyers trade individual financial burdens for a community-oriented lifestyle, sharing closing costs, maintenance and mortgage payments. For families with aging parents or siblings looking to stay close, it also opens the door to multigenerational ownership. With this model, older adults can downsize within the city without giving up their routines and access to all that NYC has to offer."
"StreetEasy's forecast also calls for the 2026 housing market to be both faster and tighter, with sales expected to hit their highest levels since 2022 and homes moving quickly. Renters won't catch much of a break (surprise): high costs and a slow labor market will keep many put, pushing rents higher and vacancies lower. And look for new developments to emerge as the more affordable rental"
Groups of friends, siblings and extended family are pooling money to buy homes in New York City as rents rise and mortgage affordability tightens. Co-ownership plans now include 56% of prospective buyers, with 9% partnering with friends and 6% with relatives. Buyers target multi-family properties with separate units to balance independence and cooperation while sharing down payments, closing costs, maintenance and mortgage payments. Multigenerational ownership allows older adults to downsize without leaving the city and supports families who want to stay close. The 2026 market is expected to be faster and tighter, with rising rents, lower vacancies and quicker sales.
Read at Time Out New York
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