i still think nyc (and immediate surroundings) has the most justification forhigh real prices. the population growth projection is high. it was under valued in 70's, 80's because of crime and urban abandonment. the housing stock was run down and roach infested. i credit Combat for making nyc palletable to all those less than urban pioneers types. there may be some adjustments for manhattan and crazy bkln markets for units that got way way run up. i just think demand will keep the market stronger than california, florida, vegas and those type of bubble mkts.
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- bill 2-12-2009 10:50 pm