Back to the Future on Manhattan Housing: How This Movie Ends

The New York Times on the local housing market: “Even at the peak of the spring buying season, brokerage offices across the city have been eerily quiet, buyers have been holding out for steep discounts and the inventory of unsold apartments has been growing.”

That was June 1989. A years-long wave of co-op conversions had helped drive the market to dizzying heights, altering not only neighborhoods, seemingly forever, but the very perception of home...

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