A Curbed reader emails, "I don't think you mentioned this bombshell." The explosive in question? Mayor Bloomberg's Friday proclamation that the real estate market is doomed. Per Reuters:
New York City Mayor Michael Bloomberg on Friday said the real estate market was slowing "dramatically" and only a "miracle" could stop soaring mortgage rates from eating into housing prices... "The real estate market is slowing down dramatically and we're going to have a problem down the road," Bloomberg said. "If people who want to sell their houses have to wait a longer time before someone comes along and buys it, it would be a miracle if prices didn't start to go down."Your daily serving of hyperbole has now hit 100%. Numbers man Jonathan Miller calls bullshit (sorta) on the Mayor, arguing that Bloomie may have—hide your eyes, gentle readers—political calculations behind his statement. We're thinking he just wants to drive the taxes on his Upper East Side townhouse down a couple hundred grand, but what the hell do we know?
· NYC mayor: housing market "dramatically" slowing [Reuters via Yahoo News]
· NYC Mayor Gets 'Dramatic' Over Housing [Matrix]