Boom time again in <$1.5k per sq ft properties?

How so? Bank employees getting bigger bonuses and deciding to buy? There are still several large i-banks not doing that well comparatively.

I think many bank employees were frozen in the first two quarters due to a lack of trading revenues and concerns about bonuses being very low. That is likely to change with good earnings. I am just talking in relative terms. Industry is still challenged. However, a little less so.

I disagree... this segment also has a lot of rental pricing pressure. Why would there be a boom if cap rate is less than 2%?Also tons of new luxury condo investors finally closed on their apartments and put them on the rental market. Rental prices will keep going down affecting re-sales' pricing as well.

tribby, High quality rental supply is a very good point. Somehow (I am not saying I am right), I do not see that as a competition to people's desire to owning if they can afford it. Rents always can go up and you may have to move. There is always custom suit vs off the shelf analogy which makes people pay a premium to buy vs rent if they have the money. In addition, there is potential price appreciation.