"Not Just a Bad Dream By JOSH BARBANEL Published: March 27, 2009 THE incredible shrinking real estate market has arrived right here in Manhattan, and now that the first quarter is over, not even the most ebullient broker will be able to dispute it. Now everyone will have no choice but to adjust to a market where buyers aren’t buying and sellers aren’t selling, new developments have stalled and... [more]
"Not Just a Bad Dream
By JOSH BARBANEL
Published: March 27, 2009
THE incredible shrinking real estate market has arrived right here in Manhattan, and now that the first quarter is over, not even the most ebullient broker will be able to dispute it. Now everyone will have no choice but to adjust to a market where buyers aren’t buying and sellers aren’t selling, new developments have stalled and mortgages remain scarce.
The evidence of this decline is likely to arrive later this week when a series of market reports are released, documenting in detail the decline in sales in every type of apartment in every neighborhood."
Hate to say I told you so....wait, what am I saying? Of course I love saying I told you so.
http://www.nytimes.com/2009/03/29/realestate/29deal1.html?ref=realestate[less]
Response by anon3
about 17 years ago
Posts: 309
Member since: Apr 2007
Yes, I told them so too. Rents are currently plummeting and prices will soon follow. I predict $250/sq foot as an average by the time this is all done.
Yes, I told them so too. Rents are currently plummeting and prices will soon follow. I predict $250/sq foot as an average by the time this is all done.
Fyi, article also being discussed here:
http://www.streeteasy.com/nyc/talk/discussion/9716-anticipating-the-deluge