View From The Top.
March - April 2006 / Haute Living
My phrase is that the bubble is bouncing, not popping. All my clients who were scared to buy last year because they felt prices were too high are coming back and putting in offers creating a bounce or some suds. I think the media is like a soap opera for the bubble, to take the metaphor further, and is creating drama in the marketplace and actually keeping the bubble from popping. The predictions of prices going down is causing people to take action and buy since they think they're getting a deal new. Plus in New York supply and demand dictates that its nice to have a little breathing room and things selling in a few months rather than a few hours makes things easier on brokers actually. We don'k look incompetent to our buyers when they put in offers and get rejected for everything like they were a few months ago, now their offers are getting accepted.
