Hoboken holding its value over Manhattan.

none

based on what I've observed, Manhattan has held its value more than Hoboken. Prices in Hoboken have been decreasing for some time, and Manhattan is starting to soften up.

That's not to say this won't change.

Manhattan is the trophy. It starts there as a benchmark for what you can afford. If you can afford it thats where you buy if you can't then you start to explore other areas like Hoboken and Jersey City or Brooklyn till you get to that magic spot.

Unless they decide to move the Empire State Building to Hoboken I dont think it can compare.

Counterpoint-- Manhattan market is supported by foreign buyers (gone) and Wall St (near death). Manhattan will be declining 30-40% from here (particularly the over $2M segment). Hoboken has declined earlier and harder so far but seems to be stabilizing and isn't falling from such a high perch-- there aren't any $3k/sq ft apts in Hoboken and never have been. Furthermore with no city taxes vs NYC city taxes about to go up by 50%, Hoboken is much more affordable.

SP11,

The Hoboken market was also heavily supported by Wall Street (all the young bankers). The more Manhattan goes down, Hoboken will keep pace I think. While prices aren't $3k/sq ft, the new development along the water isn't cheap by any measure. In addition, Hoboken real estate taxes went up 48% this year, so this somewhat offsets the non NYC tax, which I agree is a nice bonus.