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  • Prepare for Shock and Awe in the New York City Real Estate Market [View article]
    Jeffrey Bernstein - - -

    Very informative piece with good references. I do have to disagree with your statement: "The denial is over. " I thought the previous statement you made was more apropos: "There is still a glass-half-full-mental... and downplaying of the bad news, but sprinkled in with the positive sound bites are some honest comments about the outlook." I bet that the "more honest comments" are usually built around the word "might happen" and not "will happen". The end of denial and the following panic will be quick and devastating. If "Buyers are looking for, in some cases, 30 to 40 percent off of what the price would have been a year ago for an apartment," and sales are way down, the sellers are still in denial.

    De Nile is deep river and once one realizes they're in it, the adrenaline rush as they flail to shore creates quite a panic.

    I appreciate the article. Good reporting.
    Jan 11 00:31 am |Rating: +1 -1 |Link to Comment
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