Sunday, May 22, 2011

New York real estate

A Felix Salmon post:
I summarize the price history of the property described:

penthouse apartment at 115 Allen St, on a dingy corner of
New York’s Lower East Side
June 2004,$2.85 million
Sept 2004 $4.5 million
Today seller bid 5.5 million

NYC property recovers second from the crash. DC is first. If we avoid another dip, the boomlet should swing back to Boston, Philadelphia, jump to Virginia again, then maybe Chicago. It is gonna be a while before Texas or California see any result from fiscal expansion and central bank inflation attempts. But when it hits California, it comes in a big chunk.

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