As Some U.S. Markets Level Off, Housing Slump Hits Manhattan

[edhopper]

http://www.nytimes.com/2009/04/09/realestate/manhattan/09real.html?hp

Wow, imagine that, it's not "different here" after all.
This was inevitable. Watching people say that NYC would withstand the housing crash that hit the rest of the country, was like people seeing a snow storm in Ohio and saying, "well it's sunny in NY, so we should be fine".

[Sanity Claws]

1. I remember those conversations as late as last summer

So many people thought Manhattan was immune to the housing fall. I used to live in Seattle and people there made the same delusional remarks as late as summer 2007.

[edhopper]

2. I don't think,

in the history of the world, the statement "it's different here" ever held true.

[Sanity Claws]

3. Agreed

It's pretty much a self-delusional statement to keep fear at bay.

[On the Road]

4. My Daughter Has to Move Out of Her Dorm Next Year

and we've been looking around for apartment in Little Italy, Chinatown, the East Village, or the Lower East side.

Studios are expensive ($1800 a month), but I was shocked at the 3BRs -- large, beautifully renovated apartements for $3,000 a month. That's dirt cheap in Mahhattan. I'm encouraging her to get 2 or 3 other roommates and share a place.