wednesday

NEW YORK TIMES   "As the housing market across the country continued to stagnate in the fourth quarter of last year, the market in Manhattan set a record, according to reports to be released by four of the city’s major real estate brokerage firms.

"Sales at 15 Central Park West, top, and at the Plaza Hotel have driven up prices.
The average price for an apartment reached $1.4 million in the last quarter of 2007, up 17.6 percent from the fourth quarter of 2006, according to data tracked by the brokerage firm Prudential Douglas Elliman.

"I’m not forecasting high appreciation,” said Dottie Herman, the president of Prudential Douglas Elliman. “I’m forecasting that the market will be flat” in 2008."

****does dottie know that a good percentage of the residents of this city went to bed last night in apartments that were cold because the landlords do not give heat?  does dottie know that thousands of buildings in this city are falling apart because the landlords cut corners in every way they can?  dottie may be having a good time living in this city, but you can bet that if she has kids, they sure don't go to public school.  when was the last time dottie rode the subway?  the best part of the real estate scam of selling apartments for millions of dollars is that the buyers have all the same problems that the bottom level tenants have.  crummy construction, lazy management firms and as dottie says, not too much "high appreciation."

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