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]· Apartment Sale Prices Reach All-Time High [New York Sun]
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]
· Corcoran Mid-Year Report [corcoran.com, PDF]