here in the "greater new york metropolitan area," housing prices have been in a hyperinflated upward spiral for the better part of two decades. i just don't see there ever being anything close to a "correction" occuring or having any impact on rents, much less purchase price in and around the nyc -- even 9/11 created only a brief, and modest, dip, which have only returned to boom-time prices.
i hoped to buy a house in the previously declasse jersey city last year -- didn't for a variety of reasons. however, a year later, i couldn't dream of being able to buy a shoebox in the same neighborhood. i don't believe this particular bubble will ever pop, 'round these here parts.
===== ________________________________james keepnews
Art is algebra plus fire.
-- Borges
_____music+writing+webart+multimedia performance
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