Bloomberg's take (news service, not Mr.) on the Elliman/Miller Samuel market report for Manhattan ('99-'08): "Manhattan apartment sellers cut prices by the most in five years last year and unsold inventory rose to the highest since 1999 as the economy retreated." Key Dottie Herman (Elliman CEO) quotate: "Prices have to drop. They have to, have to, have to--and they have." FiDi took the biggest price-per-sqft hit in '08. [Bloomberg, previously]
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