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Old 04-16-2007, 11:29 AM
 
508 posts, read 2,119,746 times
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Fellow NY'er, just wanted to know others thoughts on the real estate market. Do you think it will continue to rise, level out or crash? I'm wondering if it's a good time to purchase anything or if I should wait for prices to go down.

A realtor told me recently the prices haven't fallen because there are so many people purchasing property here from outside of NY who've made their money in overseas markets (European and Asian markets). I've noticed the prices of brownstones continue to increase all over the city, particularly in Brooklyn and Manhattan.

So I'm wondering if this is just realtor talk or is there any truth to that? And if the saying: What goes up, must go down? is really true. TIA.
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Old 04-16-2007, 12:34 PM
 
Location: Bergen County, NJ
9,847 posts, read 25,244,838 times
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I don't think we will ever see the prices go down, maybe they will stagnate for a little but they will never go down. People are always looking to move to NYC. As long as NYC has that prestige the prices will continue to rise.
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Old 04-16-2007, 06:03 PM
 
508 posts, read 2,119,746 times
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Good answer, NooYowkur. You've made a valid point. Something to consider.

I've been wondering about this because San Francisco's market, I don't think it ever went down and it was a lot higher than ours at one time. Also it's a very prestigious city.

Last edited by vitalove; 04-16-2007 at 06:08 PM.. Reason: Another thought.
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