Why is there so much junk for sale right now??

is it a matter of affordability or quality?

Quality available and lack of inventory. I have heard a few brokers saying they had not seen anything like it before.

Maybe there's no big rush to move out of NYC?

if you subscribe to urbandigs.com you will see the pace of monthly new product coming to market has been down every month compared to the same period a year prior for past 9 months now. Last July, we saw 1356 new properties come to market..so far, the 30 day pace of new product coming to market is in low 1100s, so I expect it to be 10 consecutive months of 'less product' coming to market when July is booked. Add in a very active start to 2011 and a declining pace of off-market trends, and there you have your answer. The data shows it all!

Thanks urbandigs. I do subscribe but I had not read the past week or so. The quality as well as quantity sure is low! Still looking to buy so hope for more things coming on the market.

yes Im seeing same things for my clients...very hard to find high quality and well priced in the same product...good luck!