bloomberg.com - 1/6/2009
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Jan. 6 (Bloomberg) -- Manhattan apartment sales fell for the fourth straight quarter and office rents declined the most in at least two decades as the recession hit New York City. Fourth-quarter apartment transactions dropped 9.4 percent from a year earlier as prices for the most expensive ...
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Quelle Surprise: Manhattan Apartment Sales, Office Rentals Fall
naked capitalism —
... high-maintenance co-ops would sell for close to free (as in the seller would unload the apartment to a buyer who could assume the maintenance). We are a long way from that at this point. However, the fourth quarter appears to have pretty bad (duh, October would put most buyers on hold). And if the NYC economy deteriorates, and services, particularly policing, is cut severely, the city could soon be perceived as not entirely safe, which would have a marked impact. From Bloomberg: Manhattan apartment sales fell for the fourth straight quarter and office ...
Tell-tale stat: Manhattan apartment sales decline for 4th straight quarter
BloggingStocks —
Filed under: Bad news, Housing, RecessionIt looks like the nation's last hold-out -- the last bastion of the housing bubble, if you will -- has finally started to burst. Or at least deflate. Manhattan, which remains, despite the nation's decade of policy errors, the capital of the world, registered its fourth straight quarterly decline in apartment sales in Q4 2008, according to research compiled by Prudential Douglas Elliman Real Estate (pdf). Transactions in Q4 2008 fell 9.4% from a year ago to 2,282, Prudential said. Further, while the median price of all units (new and existing) rose 5.9% to $900,000, the ...
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The Mess That Greenspan Made —
TOP STORIES Hill aides: CBO to project $1.2T deficit for 2009 - AP ADP employment index shows 693,000 jobs lost in December - MarketWatch Alcoa to cut 13 percent of global work force - AP Bank of America sells China bank stake - Reuters Russia stops all gas supply to Europe via Ukraine - AP Obama: $1 trillion deficits 'for years' - CNN/Money Schwarzenegger Blocks Tax Rises as California Cash Crunch Looms - Bloomberg Worst December for layoffs on record, survey says - MarketWatch IBM May Cut Thousands of Jobs, Employee Group Says - ...
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