For the third year in a row, New York magazine's annual real estate cover feature is about the bursting of the bubble, but this year the tone has been tweaked a little. Previously, it was accepted that the bubble had burst, and New York was piling on the scare tactics/offering tips on how to capitalize. This year, it is accepted that the bubble will burst, and New York is piling on the scare tactics/offering tips on how to capitalize. The main story furthers the popular theory going around that, while the city has been mostly immune to the nationwide mortgage crisis, a less-than-prosperous Wall Street could do us in. But just like in previous years, the real fun is in the neighborhood-by-neighborhood risk analysis, and this year's dubious honor of riskiest nabe goes to both Bed-Stuy and Bushwick, with some unkind words for hipster Brooklyn and LIC/Astoria as well. Better luck next year, dudes!
· Real Estate Report 2007 [NYM]
· Neighborhood Watch [NYM]
· In the Market [NYM]