Another Bad Month for Manhattan Real Estate

The Manhattan real estate market put in another bad month, reports the NY Post. More evidence in favor of my theory that the real estate markets have inflected. This view does not mean that the whole of US real estate is headed south, just that the bubble markets like New York are in for a rough correction.

I think you can discount Ms. Lenz's comments at the end of the article, she deals with totally price insensitive Wall Streeters who are set to get fat bonuses this year and the type of properties she is talking about are a small subset of the market, which is not representative of "the market."