sunnsea

How Big Was the NYC Housing Bubble?

This is what happens when the concentration of wealth is so far out of balance, the tax rates on those making over $3.2 million are so low, the dollar was so weak, as low as $1.60 to the Euro earlier in 2008 and still at $1.30 making NYC attractive to foreigners and not knowing what they are doing. All of this contributed to the bubble that will now collapse big time...but NYC has been through this before and has always come back it will just take longer this time.