NYU buys building? Don't those NYU world class economists know real estate is tanking!!

Yes, you've proven there is no real estate crash!

You did it!

With just one comp!

wow, denial is a powerful thing.

I have a feeling that NYU's time horizon is just a wee bit longer than 5 or 10 years (as if this was a 'value' buy in any sense of the term to begin with).

As you saw with the economic numbers out today, we are not anywhere near the bottom of this recession. We already know it's crap out there, and yet the unemployment numbers are worse than expected. Saying who's right and who's wrong at the moment is polishing the brass on the titanic.

How do I always know when steveF starts a thread?

stevejhx, my thoughts exactly. steveF, it's just sort of sad how in denial you are.

Why should the original post be surprising? Blight spreads in bad economies.

NYU is filthy rich and does not care about price declines.

They also signed the contract in Nov. of 2007.

wouldn't be the first university that lost some endowment. harvard is down 30% this year

They need space. They have the right to buy without any approvals. "Of right," as it is called. They will act in ways that no one else can.

Don't assume a University has the same investment goals that a corporation or individual does.

Columbia is also making significant real estate investments. They have eminent domain on their side so they are throwing everyone out of their houses.

I don't understand the eminent domain comment.

They can take your property and you can't do jack shit about it...........

> They also signed the contract in Nov. of 2007.

LOL.

The real estate crisis is over because something sold a year ago before the crisis started!

they probably don't believe roubini since he's a cradle robbing prof... buy buy buy!