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Old 04-09-2009, 01:50 PM
 
1,552 posts, read 4,398,107 times
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"While sales have picked up a bit in some suffering housing markets in the West, creating a glimmer of hope that home prices nationwide may be approaching a bottom, the Manhattan real estate market has just begun a steep slide. It parallels the decline in New York’s financial services industry, and housing analysts say it may continue long after other markets heal."

http://www.nytimes.com/2009/04/09/re...l?ref=nyregion

Those folks who said we're different than CA and FL ... they were right. NY is fashionably late to the "party" ...
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Old 04-09-2009, 01:58 PM
 
Location: New Jersey
3,914 posts, read 4,363,104 times
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Quote:
Originally Posted by Lusitan View Post
....housing analysts say it may continue long after other markets heal....
that's the key word...

funny though, I didn't think anyone still put credence into what the NYT says
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Old 04-09-2009, 02:29 PM
 
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Quote:
Co-ops and condos make up 98 percent of the residential properties for sale in Manhattan.
What's the other 2%? Is there a collection of single family homes hidden in midtown?
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Old 04-09-2009, 02:35 PM
 
Location: NJ
12,285 posts, read 33,902,469 times
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Quote:
Originally Posted by sholden View Post
What's the other 2%? Is there a collection of single family homes hidden in midtown?
how about brownstones?
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Old 04-09-2009, 03:04 PM
 
744 posts, read 1,325,247 times
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Quote:
Originally Posted by tahiti View Post
how about brownstones?
I guess I've always thought of them as condos (if you own one unit) or apartments (if you own the whole building and rent them out). But I had never heard to term condo until a few years ago, so I'm very likely misunderstanding (I'm from Oz, we have "flats").
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Old 04-09-2009, 03:49 PM
 
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There are any number of brownstones that are single family residences. And they're scattered all over Manhattan - many, many on the Upper East and West sides.
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Old 04-09-2009, 04:20 PM
 
1,110 posts, read 4,167,084 times
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Manhatten, in a slump? Cant be.. I dont believe it...No way...everyone in the city makes lots of money..As long as the banks make money, stock market goes up, and everyone is happy. Dont pay no attention to this. Wells Fargo just reported huge profit. Recession is over..Who cares about unemployment. Banks are oK, usa is ok too.
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Old 04-09-2009, 09:44 PM
 
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JnJ cutting jobs. UH OH! Watch out NJ Market!!
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Old 04-09-2009, 09:48 PM
 
Location: New Jersey
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Quote:
Originally Posted by bababua View Post
JnJ cutting jobs
will have zero effect on NJ housing prices.
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Old 04-09-2009, 09:51 PM
 
1,552 posts, read 4,398,107 times
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Originally Posted by JG183 View Post
will have zero effect on NJ housing prices.
Zero effect. Clearly.

After all, it's not like people need jobs to pay mortgages, save up for a down payment, or get loans.
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