The Real Deal New York

From the archives: Forget talk of a housing bubble

Back in 2005, it looked like the good times would never end

May 09, 2015 01:00PM

Bubble-BurstIf you’re surprised by the next sentence, have a safe trip back home and thank you for visiting the Big Apple: The average price of a Manhattan apartment set a fresh record in June. Moreover, the average price of a luxury apartment in Manhattan topped $5 million for the first time ever. Housing bubble or not, the borough’s residential market continues to boom with little slowdown in sight beyond the usual summer ebb. Read the full story from the August 2005 issue here.