A day doesn’t go by without this question

Sleeping pills are the last thing this market needs, but some meds might prove to be useful to combat buyer and seller anxiety. (Flickr photo by Dean812)

How’s the market?

That a question I am asked daily.  I wish I had a better answer than this: It’s more or less stable, depending on the week.

Although my response seems to satisfy most questioners, it troubles me to be unable to provide a more precise take on the Manhattan housing market.  Appraisal executive Jonathan Miller has been saying for some time that the market has been “moving sideways,” and I guess that’s essentially the same thing phrased more elegantly than I do.

There are plenty of statistics, the best coming from my friend Noah Rosenblatt over at UrbanDigs.com.  He and others have documented a surge in the sales of high-priced properties, those in the millions.

But the numbers also show that Continue reading

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