What does housing market bear (and NYT columnist) Paul Krugman's purchase of a $1.7 million apartment on Riverside Drive reveal about his thoughts on the New York City real estate market? The Observer asks him, and Krugman answers: "'Yes, I do expect New York prices might fall some more, but we need a place. And I came into some money.' He chuckled awkwardly, because he was referring to his Nobel, which comes with about $1.4 million. 'We have financial resources that we didn’t have before.'" [NYObserver]
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