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"foreign interest in the city ... is at a near fever pitch"

Started by dwell
almost 16 years ago
Posts: 2341
Member since: Jul 2008
Discussion about
http://therealdeal.com/newyork/articles/unemployment-bonuses-will-drive-nyc-market-the-real-deal-jill-gardiner-says "foreign interest in the city -- particularly in Manhattan trophy properties -- is at a near fever pitch, according to Edward Mermelstein, a real estate attorney who represents foreign investors. He said he believes retail prices have further to fall before they can begin to recover." Doesn't the second sentence negate the first sentence? If there's 'fever pitch', why do prices need to fall?
Response by stevejhx
almost 16 years ago
Posts: 12656
Member since: Feb 2008

This way if he's sued he can claim that it's not a lie, but a half-truth.

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Response by alanhart
almost 16 years ago
Posts: 12397
Member since: Feb 2007

Fever causes hallucinations and dementia.

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Response by dwell
almost 16 years ago
Posts: 2341
Member since: Jul 2008

Exactly. He says something stupid & she reports it. Dumbdeedumbdumb

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Response by w67thstreet
almost 16 years ago
Posts: 9003
Member since: Dec 2008

haha..

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Response by somewhereelse
almost 16 years ago
Posts: 7435
Member since: Oct 2009

I read the url and I thought it was that "unemployment bonuses" were going to drive RE.

Didn't someone try that, that large severance payments would lead to more apartment sales?

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Response by somewhereelse
almost 16 years ago
Posts: 7435
Member since: Oct 2009

It is funny that the most bullish articles are always the ones without any data in them. Just talks of fever and bonuses and irish carpenters.

Maybe that's SteveF's day job.

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Response by beatyerputz
almost 16 years ago
Posts: 330
Member since: Aug 2008

think some words were omitted:

"foreign interest in [blowing up a landmark building in] the city..."

talk about selective reporting!

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Response by falcogold1
almost 16 years ago
Posts: 4159
Member since: Sep 2008

If your keeping an eye on the media we are seeing more drum beating for a HOT market.

I see the Hot market too. It's very tiny and far away but, in very low light with a very high powered telescope you can just about make it out. Try squinting!

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Response by sunclaus1
almost 16 years ago
Posts: 139
Member since: Jul 2009

LIQUIDATE IF YOU CAN Next BIG LEG down starts March 2010

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Response by Post87deflation
almost 16 years ago
Posts: 314
Member since: Jul 2009

Isn't the speaker making a distinction between "trophy properties" (in which the foreign investors are interested) and "retail properties" (which have further to fall)?

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