🇵🇭 Writing for @business @wealth | views are my own | 📧 pcachero@bloomberg.net | Signal: pcachero_reports.72
New York, NY
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NYC’s newest billionaire status symbol: a double-wide townhouse.
Ultra-wealthy buyers are combining 2–3 historic townhomes into mega-mansions designed to feel like suburban estates — in the middle of the Manhattan.
More on my story w/ @sooo__phie
🧵👇
bloomberg.com/graphics/2026-…
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The old family playbook? Keep the NYC job, buy in New Jersey, save money. Well, that math is breaking down.
Family budgets in NJ have grown 6.7% a year since 2021, faster than Manhattan's 4.6%, according to the Living Wage Institute.
Read my latest with @SimoneFoxman for @business bloomberg.com/news/articles/…
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The $104 billion market for subprime auto debt is booming even as borrowers struggle. A tale of two loans shows how Wall Street makes money regardless. @PaigeSmithNews and @annjychoi explain bloom.bg/47uqLEN bloomberg.com/graphics/2026-…
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Another one from me: Median rents in Manhattan hit a record $5,000 (!!) as the summer apartment rush collided with a historic collapse in supply.
bloomberg.com/news/articles/…
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A year ago NYC banned landlords from passing broker fees to renters. So brokers found a workaround: charging renters just to see the apartment.
One renter paid $4,000 for a listing she couldn't otherwise access.
More on my @business story on NYC's growing shadow rental market ⬇️bloomberg.com/news/articles/…
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In each month since the FARE Act took effect, apartment inventory has been lower than a year earlier, including a 31% drop in June. Inventory typically increases by 5.9% in June from the year prior.
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And some of the city's best rent deals never get listed publicly. Before the FARE Act, publicly listed rent-regulated apartments rented for just 3% more than off-market units. Since the law took effect, that premium has grown to 18%.
Read my full story with this (free) link: bloomberg.com/news/articles/…
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Miami is a classic example of what happens when a place becomes successful at attracting wealth. The very migration that made the city more economically dynamic also eroded one of its strongest selling points: affordability.
@BSteverman and I break down why moving to Miami from New York is no longer the deal it used to be.
bloomberg.com/news/features/…
New Yorkers fled the city for Miami after the pandemic for a cheaper cost of living. But a recent analysis shows that might not be the case anymore bloom.bg/4pQqd4R
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Has buying a home changed the way you think about it as an investment?
Maybe you decided to keep renting because the numbers didn't add up. Maybe you own a home but don't think it's been a great financial investment after factoring in mortgage interest, taxes, insurance, maintenance, and opportunity costs.
I'm a reporter with Bloomberg News working on a story about the economics of homeownership and would love to hear your perspective. DMs are open, or you can email me at pcachero@bloomberg.net
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New York City's new tax on expensive second homes has owners and buyers scrambling for loopholes with little success. My latest with my brilliant colleague @BSteverman bloomberg.com/news/articles/…
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Wall Street isn't the only game in town anymore.
As NYC's tech workforce has grown 45% since before the pandemic, the industry's highest earners are increasingly competing with finance for luxury homes, coveted neighborhoods and cultural cachet.
My latest on how tech is reshaping New York with graphics from Jade Khatib for @business: bloomberg.com/news/features/…
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Financially savvy homebuyers are finding creative ways to snag sub-6% mortgage rates -- if you snagged a low mortgage rate, Bloomberg News wants to hear from you.
While the average rate is above 6%, two-thirds of borrowers were able to secure rates below that in March. We're looking to speak to buyers about how they were able to secure such low borrowing costs, whether they shopped around, got a pledged asset line of credit, or snagged a rare assumable mortgage.
If you're open to sharing your experience, you can DM me or email me at pcachero@bloomberg.net
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As graduation season approaches, what forces are shaping the entry-level job market across the US? Join me and my brilliant colleagues @_constantjo and @bizboyle for a Live Q&A today at 11 a.m. EDT.
Stream here: bloomberg.com/sessions/2026-…
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The job market for recent college graduates in New York is worsening, clouding a once-bright spot in the city’s economy. The total number of available entry-level jobs in the city fell 37% between 2022 and 2024, a loss of nearly 30,000 positions overall
Read the latest with @nahmias bloomberg.com/news/articles/…
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NYC’s newest billionaire status symbol: a double-wide townhouse.
Ultra-wealthy buyers are combining 2–3 historic townhomes into mega-mansions designed to feel like suburban estates — in the middle of the Manhattan.
More on my story w/ @sooo__phie
🧵👇
bloomberg.com/graphics/2026-…
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Debates over how to fix the city's housing crisis are largely framed as a race to build more supply.
But NYU's Ingrid Gould Ellen said, “We don’t talk about the removals from supply... Maybe we’re swimming upstream.”
bloomberg.com/graphics/2026-…
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This ambitious story was the product of a collaboration with many talented journalists in our newsroom.
We could not have pulled this off without our editor @kristoncapps, data reporter @A_W_Gordon and @mariepastora and @PopovichN on graphics.
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