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October 12, 2007



Wow! This poses what I believe is a realistic (scary, to those who recently bought/presently own) view of what the New York City market has in store for it.

I am so tired of the desperate bottom callers
who are trying to suck people in to their "buy now" before the market doubles schemes! Maybe the market prices will double in ten or fifteen years, but honestly folks, we're in for one heck of a ride, and that includes you, Manhattan!

Thanks again for a great post, Reggie.


You're welcome!

Peter Comitini

Hi Reggie: Just discovered your blog. Enjoyed reading your analysis-- refreshingly well thought through, without the bile I read on many bubble blogs. As a Manhattan RE broker, it's a bit gloomier POV than what I'm experiencing, but its healthy to have another well reasoned voice on the state of the real estate economy.


Glad you enjoy the blog. Manhattan will lag the rest of the metro area on the way down, but it is definitely not impervious.


Housing has become too expensive. Currently, prices have increased were the people are not able to afford to buy the house and the borrowers are finding it difficult to clear their dept as there is no one to buy it in foreclosure.

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