This Week in Comments

New York /
Dec.December 31, 2009 02:35 PM

Do you think the residential market has bottomed out given the rise in contract activity but falling prices?
This is just the fifth inning. Plenty [more] to go. More foreclosures, inflation, increasing interest rates, unemployment. Buyers, take your time and buy something you love. More will be dumped on [the] market as sellers realize there will be no rise in prices for many years to come.

A look at Tavern on the Green in its last days
Sorry to see the restaurant go, but one of those chandeliers sure would
look snazzy in my dining room.

 
Luxury architect H. Thomas O’Hara files for Chapter 11
I bet this is the tip of the iceberg. Payroll is tough when clients don’t have the dough to pay for services already performed. Yikes. 2010 will be worse than 2009.

Market has bottomed, Marketing Directors CEO Adrienne Albert says
Sooner or later, those prognosticators in the real estate industry will pick the bottom. For the last 36 months they first blamed it on the negative media, then the former administration. Now they are calling a bottom from which to ramp back up to the pre-crash levels. Sorry, those days are over.


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