Editor’s note: When the music stops

Stuart Elliott
Stuart Elliott

From the April issue: Dance until the music stops.

That was the infamous advice from the former CEO of Citigroup Charles O. Prince III back in July 2007, with the subprime crisis about to bear down on the country.

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Or more specifically, “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing.”

In New York City real estate, we are still dancing. [more]