An Amazing Bubble

It is amazing how much real estate has melted down. I wonder over the next 20 years what these declines will really mean? Will people vacate some suburbs? Will they eventually move closer to large population areas? Could this meltdown be the return of the big city? On the other hand, with New York set to raises taxes to crazy levels, could we see some cities shrink in size?

One thought on “An Amazing Bubble

  1. In my area, San Francisco, the unheard of has happened. The landlords actually lowered the rent, in some cases, by 20% -to- 30%. Why has the rents been lowered? It’s because people are tired of the insane cost of living and fleeing the big expensive -you have all you need cities-. Many residence of California have already migrated or for a better term fled, the insane cost of living; as the -Dracula- cities and states start to suck the life out of its citizens. I have been monitoring a very interesting crime statistic, the increase in crime from the middle class. In France(http://www.cnn.com/2009/WORLD/europe/03/31/france.hostages.caterpillar.workers/index.html) the middle class revolted against their employer and held the executives hostage because they wouldn’t negotiate on a plan to lay off workers. I wonder what type of crimes we are going to see in New York and other cities because the citizens are tired of the teeth marks on their necks!

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