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rjs2248
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It Gets Real: Manhattan Apartment Sales Plunge - Wolf Richter -

Burn Baby Burn.

Commented 2998 days ago

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Beginning of the headline :And Manhattan condo prices plummet 14.5% in 3 months. Real estate is local. And so housing bubbles are local. When enough of them happen, they coagulate into a national phenomenon. This has already happened. In March 2013, we started calling this phenomenon Housing Bubble 2, and we’ve watched in awe how it bloomed, nurtured by ultra-low mortgage rates, government subsidies, the Fed that is relentlessly “healing” the housing market, yield-desperate investors, private equity firms, Wall Street, a... Read More

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