The layoffs and bear market are coming. How much longer can Manhattan hold up?
When will NYC real estate start to crack?
- Thread starter turkeyneck
- Start date
The cheaper dollar makes a piece of NYC more alluring for everyone else in the world who would love a little shack in the Big Apple. This market is impenetrable. 
Quote from Trader KGB:
The cheaper dollar makes a piece of NYC more alluring for everyone else in the world who would love a little shack in the Big Apple. This market is impenetrable.
The main buyers of NYC condos of late, according to reports, are foreigners. With exchange rates as they are, they think it is a good buy. Wait until the dollar turns and prices start to drop and these new buyers will be hit with a double whammy!
When will NYC real estate start to crack? Why should it? Do you think Manhattan is full of dumb money?
Trump wasn't selling his units to people who used equity from another home as a down payment, I thought that was very shrewd. He wasn't about to let people flip his units and profit from the appreciation bubble.
Then you have Bloomberg, he cares about the city's debt rating, ever hear a politician talk/do anything about debt rating?
I will concede on one point though. When Wall Street runs out of customers to pimp in the U.S., they peddle their goods to our "sophisticated" European friends. This is probably where we are at with Manhattan real estate.
Trump wasn't selling his units to people who used equity from another home as a down payment, I thought that was very shrewd. He wasn't about to let people flip his units and profit from the appreciation bubble.
Then you have Bloomberg, he cares about the city's debt rating, ever hear a politician talk/do anything about debt rating?
I will concede on one point though. When Wall Street runs out of customers to pimp in the U.S., they peddle their goods to our "sophisticated" European friends. This is probably where we are at with Manhattan real estate.
I just took a look at some listings on the other side of manhattan in hudson county, NJ. Prices still rising. Mind you, this is New Jersey.
http://www.njmls.com/cf/details.cfm?mls_number=2745479&id=999999
http://www.njmls.com/cf/details.cfm?mls_number=2745950&id=999999
Lights
http://www.njmls.com/cf/details.cfm?mls_number=2745479&id=999999
http://www.njmls.com/cf/details.cfm?mls_number=2745950&id=999999
Lights
Manhattan is experiencing massive population growth. Perception has radically changed in the past 10-15 years from dangerous city to amusement park/urban mecca. You couldn't get a cab to drive to Ave. A back in late 80's after midnight.
The city expects to gain about 1 million residents by 2030 and can't expand land supply. These trends are specific to geography and obviously not to housing cycles--Real estate prices in Manhattan were stagnant and falling in the last housing boom in the 80's. Folks were fleeing cities back then.
The city expects to gain about 1 million residents by 2030 and can't expand land supply. These trends are specific to geography and obviously not to housing cycles--Real estate prices in Manhattan were stagnant and falling in the last housing boom in the 80's. Folks were fleeing cities back then.