Wednesday, August 29, 2007

Over-valued real estate #12 New York

Real estate in New York has been playing catch up with other bubbletowns. Prices need to come down by about 37 percent to return to the long run price trend. That's bad, but not as bad as Washington Dc, Las Vegas or LA. New York suffered badly from the real estate bubble of the late 1980s. It took 10 years to recover from the crash. How long will it take to recover from the crash of 2006?

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