We found out that Wall Street has been king of a nudist beach

More banks are failing.

http://www.msnbc.msn.com/id/26354613/

What goes up.

http://www.nytimes.com/2008/08/24/business/24house.html?ref=business

must come down.

http://www.nytimes.com/2008/08/24/business/24gret.html?ref=business

Finally a good analysis.

http://www.nytimes.com/2008/08/24/business/yourmoney/24view.html?ref=business

Of course none of this will have any effect on Manhattan real estate.

Steve, I agree that this is a good analysis. Also,as a "centrist bull," I think you are right that this all will have an effect on Manhattan real estate. It already has. We are not seeing the kind of appreciation we did 18 months ago. Where we part company is that I think we're generally going to see more of the same the next couple of years -- generally flat prices, some decreases, some increases here and there. Could be that there will be a more pronounced decline in one or two quarters, but I think that the combination of low inventory and money on the sidelines will keep things from going down much for long. I actually think there's a real stealth demand for RE here in Manhattan plus real purchasing power, but a lot people are staying on the sidelines because they're scared (partially by the likes of you and your ilk!!).

So yeah, it will affect Manhattan real estate. It already has. But we part company on how much and how long.

I thought someone said there was no more of this stupid doom and gloom non-stop posting by certain people?

I love how suddenly some poster with a brand new screen name pops up to protest what has been going on on this website for quite some time.

Why not post with your regular screen name, areyounuts? Then again, nobody really cares. Particularly if it's some halfwit like LICComment.

good point, beatyerputz