Now that the last couple of weeks have seen some glimmer of hope coming from the financial markets, the talk in many markets has once again turned to whether or not we’ve seen the bottom.
What is clear is that the longest recession since the Great Depression is not close to done yet. The two [...]
A new report is out on the Manhattan real estate market, and it offers some of the best available data on what is currently going on during this time of flux. The Wells Fargo 2009 Residential Market Update came out last week, and is full of some fascinating figures.
First, the top line data: Average home [...]
Past is prologue in most aspects of life, especially when it comes to economics.�The downturn today might be unique in terms of the actual confluence of events that preceded it, but looking at past examples of how the New York City apartment market reacted downturns in the macro economy still gives us a whole lot [...]
Finally, the numbers from the first quarter have come out.� The numbers are generally the most reliable set of indicators concerning the state of the New York City real estate market.� This time around, however, they take on special significance.� The first and second quarters of 2009 will likely be the lowest points in the [...]
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