Some fun reading, circa 1991

It's deja vu all over again. Thanks for posting this.

nwt, great stuff. i'm watching the demise of the jr. 4 market, and i can't help but be sorry for all those people who thought it would be a good idea to buy an 800-900 square foot apartment and then didn't get out in time.

What did Mark Twain say? History doesn't repeat itself, but it does rhyme.

Yep, post this to the other thread where newylweds are considering buying a small 2-bedroom. Seems to me from the old articles (both NYmag and NYT) that the moving-to-suburbs couple with young children got burned the most the last go around.

Progress, far from consisting in change, depends on retentiveness... [W]hen experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it.

And never get involved in a land war in Asia.

Thanks NWT. Good stuff as always.

I like the "rarely used" quote

"There has never been a better time to buy in Manhattan says" Barbara Corcoran.

riversider...that seems like a very unhsf type commment...why do they keep saying you are hsf?..

Puerile humor?... No idea

or...because you are.

Wow, I could totally afford my large 2-bedroom in 1991 dollars...too bad I was in middle school then.

Love the "don't get involved in a land war in Asia" comment, West 81st. Unfortunately it tends to make it obvious that neither you or I was in middle school in 1991.

Princess Bride! One of my favs!

Hm. This is troublesome. Using the CPI inflation calculator, that large 2-bedroom could have bought in middle school in 1991 (had I possessed the right combination of sense, funds, and location) would cost me $952,995.59 in today's dollars. I was rather they'd go back down to $600k in today's dollars. Sigh.

http://data.bls.gov/cgi-bin/cpicalc.pl

evnyc, in 1995 you could have found something much cheaper in today's dollars.

I love Clark Halstead is quoted in this article are saying the bottom is in sight.....in 1991.

Think about it.
Market falters in oct. 1987
this is 1991 and we KNOW the bottom was not in.
Will history repeat itself?

cause and effect?...or mere correlation?