[lbo-talk] real estate bubble in Manhattan too?

[Jordan Hayes]

> I forget where I read it, but another piece somewhere else
> concluded there was far more supply than demand  and yet developers 
> maintain prices and keep building.

One possibility is that we'll see a deflation of prices for the places 
that people move out of/up from; there does certainly seem to be demand 
for _new_ places in NYC.  Maybe people have grown weary of buying $nM 
places that have to be renovated for another $m00K in order to be 
inhabitable.