A Manhattan Real Estate Jingle for 2010

T’was the night before New Year’s, when for seconds so brief All in the world of real estate breathed a sigh of relief. Events that unfolded in 2009 Could have been so much worse for Manhattan’s skyline. Thinking back to last year, markets frozen as ice, It seemed sellers and buyers were way off on price. Rents kept on falling with concessions galore, Leaving landlords and tenants trying to define... [more]

T’was the night before New Year’s, when for seconds so brief All in the world of real estate breathed a sigh of relief. Events that unfolded in 2009 Could have been so much worse for Manhattan’s skyline. Thinking back to last year, markets frozen as ice, It seemed sellers and buyers were way off on price. Rents kept on falling with concessions galore, Leaving landlords and tenants trying to define a floor. The sub-prime debacle that first started this mess Was replaced by prime loans and their default duress. Spring then burst on the scene, bringing much needed cheer That at least we avoided a full meltdown this year. Little by little, sales volume kicked in, As did the stock markets, much to bearish chagrin. All the while new construction found itself in a bind With many new rentals making media headlines. With the inventory climbing up, up and away, No wonder that renters were cheering “hooray”. Ghost towers increased in their numbers, throughout, While buyers were trying to break their contract. As interest rates dropped to phenomenal lows Home buying virgins began dipping their toes. Some were seeking to buy as an inflation hedge, Though that safety (historically) is mostly alleged. Then currency trades with the dollar so weak Spurred foreign investors’ interest to pique. So where are we now, heading into next year? (Read the rest here: http://theapplepeeled.com/buyers/a-manhattan-real-estate-new-years-jingle/) [less]