Why Manhattan Real Estate Keeps Holding Up - at Least on the High End
Last time we saw why Manhattan and Miami high-end property typically holds up well even under extreme negative conditions. When you think about it, it's really just common sense. The steady buying from rich people whose governments can't stop grabbing everything they can from any citizen who's put some reasonable distance between themselves and the poverty level simply drives money into places like Manhattan and Miami.
Of course, as a New Yorker, it's kind of annoying that high-end properties are buoyed this way, at least for those of us who aren't "rich," since there will probably never come the day when we non-rich can afford a place in Manhattan and fulfill our dream of living on the 26th floor of an apartment building, looking out our window at the gleaming Metropolis - kind of like you see in great old movies like "The Thin Man" series. Then again, at least in my case, the sort of world represented by the bright lights of 1930s - 1940s Manhattan isn't what it used to be. For example, just look at this clip from "The Thin Man" movies. Okay, so Nick Charles (and sometimes Nora too) might drink a bit much from time to time. But just watch and listen to the dialogue between these two. It's a world that's pretty much lost in our vulgar culture.
So maybe there's nothing really lost for us dreamers after all. I mean, we've still got our dreams, right?
Of course, as a New Yorker, it's kind of annoying that high-end properties are buoyed this way, at least for those of us who aren't "rich," since there will probably never come the day when we non-rich can afford a place in Manhattan and fulfill our dream of living on the 26th floor of an apartment building, looking out our window at the gleaming Metropolis - kind of like you see in great old movies like "The Thin Man" series. Then again, at least in my case, the sort of world represented by the bright lights of 1930s - 1940s Manhattan isn't what it used to be. For example, just look at this clip from "The Thin Man" movies. Okay, so Nick Charles (and sometimes Nora too) might drink a bit much from time to time. But just watch and listen to the dialogue between these two. It's a world that's pretty much lost in our vulgar culture.
So maybe there's nothing really lost for us dreamers after all. I mean, we've still got our dreams, right?
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