[montag813]

Of course, New York City is quite different from the rest of the country.

It is indeed, partically unique. Demand is huge, inventory is still low, and Wall St cash and a strong Euro have kept things very spicy indeed. Some people would like to live in Reno or Austin. But many people simply MUST live in Manhattan. Hard to say that about any other American city, with the exception of Miami, which is also red hot.

[rmlew]

It is indeed, partically unique. Demand is huge, inventory is still low, and Wall St cash and a strong Euro have kept things very spicy indeed. Some people would like to live in Reno or Austin. But many people simply MUST live in Manhattan. Hard to say that about any other American city, with the exception of Miami, which is also red hot.
Inventory is low, but there are a lot of new buildings going up. Still, zoning and historical regulations realy do create a limit.
The European investment is high in NYC, but nothing like what is going on in the Hamptons, which I do see as a bubble. I do think that appreciation in NYC will be slower over the next 5 years. Of course, if Freddy Ferrer becomes mayor, all bets are off.