After traveling to corners of the world where, unbelievably, people don't obsess about real estate over breakfast, it's good to be back in NYC. What better way to start the year at Curbed than with a report that apartment prices in the Five Boroughs remain?get this?expensive. Prudential Douglas Elliman head honcho Dottie Herman sees another robust year for the market:
Herman said she expected prices to rise again this year, though perhaps not as significantly as in the past few years. She said demographic trends would continue to drive New York real estate, with empty nesters from the suburbs, families choosing to stay in Manhattan and European investors taking advantage of the strength of the euro all vying for the supply of apartments.That's a challenge to our pride, people. Let's get out there and bid up asking prices, starting this very morn. After all, we have a real estate bubble to feed.
· Average Manhattan Apartment Remains Over $1 Million [NYTimes]