As the holiday season approaches, so too do the stories on Wall Street bonuses and their affect on the luxury Manhattan real estate market. Do bonuses drive sales of pricey apartments? Nobody knows for sure, but endless speculation is what gets us out of bed every morning. The Observer's Tom Acitelli files slightly earlier on the topic this year?last year's analysis came in November?and the lead paragraph says it all:
In 2006, year-end Wall Street bonuses set cumulative and individual records. In the first half of 2007, more luxury apartments sold in Manhattan than in any first half of any year since at least 1989. We’ll never know how much the two are connected.So stop reading! Just kidding, the Observer still lures us in with an even fancier, even more confusing graphic this year. By '09 it better be in 3D.
· Hey, Brokers: Don’t Fall in Love With a Banker [NYO]
· Bonus Season Boom: Hogwash? [Curbed]