That would start WWIII or at the very least turn large portions of the middle east into a nuclear wasteland. I doubt anyone will stop buying in Manhattan for fear of an attack on Indian Point.
the greatest threat to nyc real estate is terrorism... to have most of your money in an asset located in nyc is really not a very good idea -------------------- Trump wrote a book, "America we Deserve", he addressed terrorism in his book and this was in 2000. He was very concerned about terrorism in nyc. Secondly, NYPD has men stationed around the world, what I find interesting about this, is the fact NYC obviously believes the US Govt can't protect the city.
Bullshit. There has been very little built in the last 10 years. Manhattan is an island, with no room to go. One of my clients is a top real estate guy. He felt that even Harry Macklowe was not really in trouble (notwithstanding his huge loans coming due in February) and that Harry would be allright again in a couple of years time. Manhattan will just become like Tokio, where middle managment can not afford to live anymore, only top managment. It's a bit like Greenwich, CT. Another client's of mine neighbor in Greenwich' s salary last year was 500 million USD- a hedge fund manager. Do you think that town will suffer a housing downturn? I don't.
nyc the hamptons and conn are all soft and will get softer ...go to radarlogic.com and see for yourself ..... yes nyc is an island but it sits in the centre of an economic ocean called the united states ...and it is from that ocean that it draws its strength or weakness people who live on islands need to be ready for a tsunami the last real tsunami to hit nyc was in the mid 70es if i were you i would find a life jacket and put it on g
maria b did not seem to happy with her latest guest who commented on nyc real estate values it was noted nyc bonuses flat to down this year wall st is 50 percent of nyc economy....getting crushed massive layoffs on the horizon....closing in now goldmans stock price recently.....173 today hedge funds masking subprime losses.... lehman in trouble ...ubs merril and boa writedowns looming vacant space on the rise...office space etc etc etc she maria sounded like some of you on this thread ....she changed the subject quickly .....she did not like what she was listening too...the truth hurts g
Man I am glad you are not a realtor, nuclear war is usually not a selling point. By the way if this happens you think anyone will worry about real estate. I will be looking for the J man on the horizon. Now let's get real.
What's the best method to short sell NYC real estate? I'm sure there must be some real estate companies ( REITS maybe?) with massive exposure to NYC. ( I'm a short term trader. I use tape reading and don't have a clue what fundamentals to look for. )