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Bubble Symmetry

Not to be outdone by the folks at Corcoran, Douglas Elliman issued its second quarter report on NYC apartment prices yesterday. We were tempted to round up the vertigo-inducing price increases neighborhood by neighborhood, but instead, we'll leave you with two select quotes emailed by an alert Curbed reader:

1) "If the Dow merely does what it's been doing, you'll have a Dow 20,000 in 10 years," said Jeffrey Applegate, chief investment strategist at Lehman Brothers [AP, 3/17/99]
2) "At the current rate, within five years [no Manhattan apartment or condo] will go for under a half a million dollars," said Jeffrey Jackson, the chief economist for appraisal firm Mitchell, Maxwell & Jackson. [NYPost, 7/13/04]
· Apartment Sale Prices Reach All-Time High [New York Sun]
· Corcoran Mid-Year Report [, PDF]