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Not to Burst Your Bubble, But...

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Another developer whose company in part spurred on the speculation of New York City real estate has taken it upon himself to admit that the city's residential market is now a housing bubble ripe for popping. "If real estate was a publicly traded company and I could short its stock, I would very happily short 57th Street," CEO of Stonehenge Partners Ofer Yardeni said on Thursday. With some 7,000 condos priced at or over $2,300-per-square-foot set to come to market by 2016, we can kind of see where Yardeni is coming from. Image via Curbed Flickr Pool/ Vivienne Gucwa. [NYDN]