[Texasforever]

On a more serious note. The company that I retired from moved it's headquarters from New York to Houston in the early 70's. The New Yorkers were pleasantly surprised when they got here and could buy a larger house for half of the money they made from their New York house sales. From what I can see the areas this article is talking about have always been a sellers market.

[durasell]

Despite what people believe, the price of NYC real estate does go down -- sometimes dramatically -- from time to time. Real estate is like any other commodity, it goes up and it goes down. The problem we're facing now is how much people have dumped into it.