Like dot com bubble that will take 150 years recover, NYC RE will take several generations to recover, if never

agree - like in boxing - bubbly assets never come back

969 Fifth Avenue 7th floor. Quite a tangled history here, spanning three listings on Streeteasy. 35% drop from the prior same-unit sale, and now an attempt to generate buzz with a $950K price cut.
11/01/2005 Listed in StreetEasy by Prudential Elliman at $4,950,000.
08/11/2006 Listing is no longer available.
02/13/2007 Re-listed by Prudential Elliman.
04/14/2007 Listing entered contract.
07/12/2007 Sale recorded for $4,550,000.
05/03/2008 Listed in StreetEasy by Prudential Elliman at $6,200,000.
05/20/2008 Price decreased by 4% to $5,950,000.
07/10/2008 Price decreased by 22% to $4,650,000.
08/07/2008 Delisted temporarily.
09/09/2008 Re-listed by Prudential Elliman.
09/26/2008 Delisted temporarily by Prudential Elliman. Last priced at $4,650,000.
02/03/2009 Listed in StreetEasy by Prudential Elliman at $3,900,000.
03/19/2009 Price increased by 2% to $3,975,000.
06/01/2009 Price decreased by 2% to $3,900,000.
06/18/2009 Price decreased by 24% to $2,950,000.

Why do you think this one bedroom would command more that 1000 sq/ft? Location? single floor? Is this an amazing building? Given the maintence, I've seen much better places for the money by far. Unless this address or building hold some type of special something...1000sq/ft seems very fair. Anyone???

Was 1987 a housing bubble? (anywhere in the world?).

Just a little blip on the charts, compared with the one we're in now.

Well, if I remember correctly, Tokyo fell like 65%. So if that's a "blip on the charts, compared with the one we're in now", what do you think we're going down? 97%?

But I guess this is a cute time to link to this 2005 article about the lessons WE SHOULD HAVE LEARNED from the Japanese bubble:

http://www.nytimes.com/2005/12/25/business/yourmoney/25japan.html

"Take It From Japan: Bubbles Hurt "

Was being US-centric, as usual, and thinking of the late-80s vs. 2000s here.

OK, so even here, market went down 30% to 40%. If that's a blip, where do you think we are headed?

wow HT1, whoever bought in 2007 is taking a BATH...amazing