Tuesday, January 6, 2009

Real Estate Market Tanking...

The real estate in NYC is tanking. No big surprise about that. It's good and bad. Good news is that there's plenty of spaces at discount rates. Bad news is that there are plenty of spaces at discount rates.

Lets put things in perspective for some regular folk out there that rent. Regular folk who include me! I have a link on my firefox that shows craigslist listings in manhattan for under $1000. I click it once a month to see what's going. About 6 months ago I would see, at a max, about 10 listings. I click today and I see 50. click here!

Here's another scarey article from gothamist today. The article throws a bunch of numbers around.

I hope this brings an influx of people from out of town into NYC pumping money into our economy. It already has in a way. Lower prices in NYC brings investors and tourists from outside our country. Things won't even out but lets slow the bleed a bit.

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