Thursday, August 20, 2009

Manhattan Office Building Sales At Standstill

We have maintained a position that New York real estate will be some of the hardest hit before this cycle has passed. I witnessed the collapse of New York real estate first hand in the late 80s crisis. This will be substantially worse. New York's reset has simply been delayed because of Washington bailouts. But in the end, that is irrelevant.
posted by TimingLogic at 12:29 PM