Monday Links

The sub-prime mess must indirectly start to hit the most expensive areas. If the dominoes are falling in bed-stuy, then folks considering clinton hill have got to notice the better deals a few blocks down. And whether or not there is a single sub-prime loan in all of the best areas, it still has to be a drag on the market, sooner or later.

Posted by: Anonymous at June 18, 2007 8:58 AM

Thats syrup of figs, not syrup and figs. Its an old-fashioned laxative.

Posted by: Anonymous at June 18, 2007 9:33 AM

"That's one scenario. Another is that no one wants to catch a falling knife so they continue to avoid the problem areas and demand stays strong for areas with out the problems."

I don't understand that theory. If you are looking at 500k 2 bedrooms in prospect heights, you can't ignore what is going on in the next area. If the 500k seller in prospect heights loses buyers, they will drop the price, and the park slope 1 bedroom buyer will be interested, and so it goes. FG, PS, etc are not gated communities, the borders blur, prices and interest don't fall off a cliff as you move from one block to the next.

Posted by: Anonymous at June 18, 2007 9:40 AM