Monday, February 9, 2009

The Queen city is finally topppled

Striking Declines Seen in Manhattan Real Estate Market

“The worst is yet to come; there is a blood bath coming,” said Matthew Haines, a founder of the real estate site Propertyshark.com who prepared the Corcoran report.

Posted by v stor @ 06:32 PM (755 views)
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One thought on “The Queen city is finally topppled

  • inflation is eating my savings says:

    This will be one to watch. New York will always be a place that people want to live in.
    Much of the action has been from lots of Brits cashing in on a strong pound. That accent really works…….! The American man simply cannot compete. That’s another story, sorry.
    Most New Yorkers do not live on Park Avenue, and the denizens of Park Avenue have, one suspects, also been burnt, perhaps more in absolute terms, at least initially. A good barometer of that would be shop occupancy on Maddison Ave.
    However, NYC is NYC, people want to live there. Many of the people I know there are swallowing fat rent increases, or moving outwards, but still enjoying.
    Remember that it is a market where 80% of people rent.

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