Fuel for Bears on SE ... Manhattan R/E Prices Dropping

http://www.nytimes.com/2009/07/02/nyregion/02real.html?ref=realestate This is somewhat dated, as it was from before the Independence Day holiday, but it seems to provide fuel for all the SE bears. Interestingly, if you read the article, it also suggests that prices have now stablized at these dreadful levels, as Q2 contracts begin to close. Also, notice that the broker advises sellers to sell into... [more]

http://www.nytimes.com/2009/07/02/nyregion/02real.html?ref=realestate This is somewhat dated, as it was from before the Independence Day holiday, but it seems to provide fuel for all the SE bears. Interestingly, if you read the article, it also suggests that prices have now stablized at these dreadful levels, as Q2 contracts begin to close. Also, notice that the broker advises sellers to sell into this market. Must be the same guys encouraging people to buy into the apex of the market. R/E agents are just a total joke ... they do nothing, offer up some shaky advice, and collect cash at closing ... well, the day when the MLS db is no longer a monopoly is coming, and hopefully we can tighten up the supply chain. [less]