Monday, March 17, 2008

New York, New York

NY real estate was the last hold out. It was different there said the experts. All that money sloshing around on Wall St made it immune from the crash. Well no longer. Today marks the beginning of the end of that charade. I'm not saying Park Ave. apartments will be going to $50K any time soon. But the insane, $2M for a shithole apartment in Manhattan days are over. Just like the $500K for an Inglewood home in L.A. days are over.

See there is always a silver lining.

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