More Problems with Manhattan Housing

Sorry, Mmafia, but this article doesn't say or mean much. The lede is an anecdote about a single bidder walking away when the market tanked last week, and the rest is the usual speculation about Wall Street bonuses, inventory and the effect of the credit crunch. There's no rug being pulled anywhere if you take this article as your indication.

I agree with you 100% regarding the content. The purpose isn't the content however- it's the fact that mainstream media's slant is beginning to shift, as more and more articles regarding local real estate are discussing imminent potential price declines.

Whether or not this is 'self-fulfilling' is in material- the bottom line is that psychology (namely confidence) is beginning to shift. If you took a pulse of sellers today and compared it with their pulse just two months ago, you will find a lot are scared now, and have good reason to be.

It's just my opinion that the 'rug' has been pulled. We shall see what the effects of Jumbo loans climbing almost 1% overnight will do to the market in due time.

Its the summer. The weekend weather has been amazing every single weekend. Everyone leaves town. During the week is very hot and humid, or raining so hard there is no transportation in Manhatta so you cannot see nor want to see anything. Also, the markets are so volatile that nobody can leave during the day to go even if they wanted to.

Now, what seems more plausable?

If someone is looking for an apartment weekend weather is not going to stop them. Remember,there are 7 days in a week.

Did I not mention the other 5 days? Should people go during the week the last few weeks when its been 90+ degrees and humid, and the entire subway system doesnt run because its flooded? Or how about the fact that lex and park were closed for several weeks due to the steampipe blast? Point is, it has been very difficult to get around Manhattan the last 3 weeks and yes, that little thing will impact who goes where and when to look for an apartment.

here's the only fact I know to be true about this subject--none of you knows anything useful.