"There are some specific reasons separate from mortgage funny-money business that could justify higher increases than the norm; for example, improvements in living conditions in NYC (such as lower crime rates, more amenities and better schools), higher levels of employment, etc. Whether these conditions have actually occurred or will still be valid in the future is a matter of some debate. So the moral of the story is - easy come, easy go, and if you based your financial future on your home doubling in price within a decade or less, what were you thinking anyway?" [Curbed Roundtable: March State o' the DECADE Report]
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