Tuesday, March 31, 2009

NYC Deflation

A new report from Deutsche Bank predicts New York real estate has another 47% to fall. My favorite bit in the linked article notes that New York is home to three of the weakest industries in the world: finance, the law, and media.

Other loser markets include Miami, Ft. Lauderdale, Long Island, and Baltimore. Lovely news for formerly wealthy New Yorkers with beach houses in the Hamptons and winter places in South Florida.

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