Goldman bearish on NYC

I saw that also. Thats a very long term project , so that means they have are long term bears on nyc

If gs even thought this could make money at any point they'd be involved. This project must already be screwed .

its reminding me more and more of the city I grew up in, where announced projects had, what, a 10% chance of actually being built.

The 4th largest city in America?

The statement bearish on NYC is very misleading. I think they are bearish on such an expensive MEGA project in a neighborhood where there is little demand, aesthetically ugly, and inconvenient. They obviously don't imaagine a forseeable return on the project not on NYC in general.

Right but if this were a bottom, wouldnt this be the time? They are no fools. Why weren't they bears before? Because at least they can recognize a bubble after the fact, unlike the bulls on this board.

" I think they are bearish on such an expensive MEGA project in a neighborhood where there is little demand, aesthetically ugly, and inconvenient"

How much of that is relevant. Its ugly, so what, they get to build whatever they want from scratch over as close to virgin land as it gets. Inconvenient.... they're getting a subway stop (or two) just to make it more convenient, and I think it gets its own monorail.

Yes, NOW its crap, but the plan builds an entirely new neighborhood.

And, as rhino said, it was the case before as well. But they decided to make the bet last year, they just won't make it anymore. The neighborhood didn't change, the RE market did.

Did somebody say "MONORAIL"?

Did someone say "AUTOMOBILE?"