If rents go back to 1998 levels, will sale prices??

They're not making any more land! Buy now or be priced out forever!!!!

Why will rents go back to 1998 levels?

why not? I just leased a studio on 87th and 1st for 1075.

'cause i heard subway rides are going to cost $1 each again

Me thinkz... until all of the shadow new condo inventory gets re-marketed as "rentals" and when UE in NYC bounces along a bottom and rents stops falling for at least 2 to 3 quarters (so at least another 24 months).... mkts can be irrational for a long long time.... but it will come just as your next bowel movement... GUARANTEEED!

Get more popcorn....

Hey yepyepper, pace yourself with your posts. Remember what happened when you took on too much load in the past ... those nasty hemorrhoids.

Are broker IQ's going back to 1998 levels? I.e., from 45 to 70?

marco...how did you find a studio for 1075...thanks for your help.

We are already at 2000 levels. What's the big deal about 1998 rents? Its hard to fathom rents are at 2000 levels because prices are triple... That's most of the bear case.

All this said, we can't go to 1998 prices unless interest rates spike. Also remember, 1998 purchase values are = to 1988 purchase levels. That might be a little too bearish even for me.

Wow w67th....I can go with you on the squat rack, but we'd have to travel back to 1994.

I found it on craigslist

Rents are not going to 1988 levels. The inventory is much better quality in Manhattan. And the economy is much better. There is no reason to believe in 10 years of regression. Those of you thinking otherwise are like Dwayne_Pipe's broker's IQ.

the economy is much better? seriously? amidst the worst after war recession?

not 1988, but 1998..things are starting to break and they cant be stopped

rents are not at 2000 levels. Serisouly, where do you live Rhino? Manhattan, Kansas?

ncolberg, 'no reason to believe in 10yrs of regression?'... Have you seen the stock market this year? Look at the charts for the DOW, S&P 500, and NASDAQ, the prices were at the late 1990's level in March. Many stocks are still at the 1990's level even after the recent run-up. Housing dipping back to prices from 10yrs ago temporarily is definitely possible, though the chances might not be very high.