dblplay1212
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- May 23, 2016
I'm not saying there wont be a correction, there always is. I'm just saying that correlating 2008 and using NYC prices as proof is dumb.https://wolfstreet.com/2018/07/31/the-most-splendid-housing-bubbles-in-america/
All major cities are well above 2007 highs. All markets went parabolic, artificially induced. EM's are crashing, Japan, China, EU are also hurting. The 2 things Globalization did..we rise together & fall together. China's banking is in shambles and can't bail America out like in 08.
Since you're a broker, I'm sure you've been tracking HNW tycoons, execs selling off prized real estate about 1.5 years ago. Then last year, high profile movie stars like Tom Cruise unload their prized Chalets and beach compounds...etc. This happened exactly in 2005 thru late 2007.