Monday, 20 March 2017 17:49

It's the Real Estate Crash That I Warned You About (again) Featured

I've issued several warnings late last year warning of the real estate bubble peaking and popping. I feel I'm especially qualified to do such since I quite accurately called the bubble burst of 2007 - namely housing (look here and here), homebuilders (look here), commercial real estate (look here and here and here and here and there) and banks (Bear Stearns and  Lehman, among many others). Well, exactly ten years later, guest what?

20160202 171444

I warned thoroughly last year about the NYC markets. Reference Is There A New Real Estate Bubble? Well, Prices Have Past Their 2007 Highs & Outstripped Income Growth and Using Veritaseum To Streamlining Real Estate Sales At The Peak Of A Bubble and several vdieos.

This Tiny Part of NYC is the 6th Priciest Place in the WORLD! Bubble, Bubble, Pop, Pop

 Well, today look at numbers at that tiny part of Brooklyn, NY...
Dumbo price spike
Now, I know many of you are saying, "Wow, that's a good think isn't it?" Well, if you take a look at the long term appreciation rate of housing, you see a very diferent number, something along the lines of 3% to 5%. 
price trend
So, 3-5% annually, is a far cry from 51% quarterly. What happes when the extreme appreciation rate hit Manhattan directly after the worst housing bust in the history of this country. Let's look as some of the more tony parts of town... 
Chelsea price dropFinancial district price drop
Midtown west price dropSoho price drop
WEst Village price drop
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