well, that’s way too rich for my blood.
But, Manhattan is the last place in America I would ever choose to live. On the other hand, supply and demand sets the price of housing everywhere. Clearly lots of folks, as Obama would say, look to Mnahattan as choice real estate.
RE: supply and demand sets the price of housing everywhere.
Makes me wonder... what kind of people demand these real estate?
dilbert as a life long NYer (Brooklyn orig, now Manhattan) it is far overrated. I liked NY a lot better in the Koch days. OK more crime, but things were a lot looser and the yuppies & rich students didn’t control everything. The high end housing isn’t going to affect directly the average guy—there was always high end housing in Manhattan. I remember Jackie O’s apt —something like 16 rooms—what did that lady do with all those rooms —her kids were grown —and I don’t think she was keeping a guy harem. I am not falling into class warfare or envy —but the attitude these folks bring with them —esp. the NYU students (Columbia uptown). With this increase goes an increase all across the board —imagine paying $5 for a lousy hot dog from a stand. It’s coming.