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  1. OK housing bulls, let’s get a thread going about how it’s different here and housing prices will continue to rise relative to income, until (after an initial teaser rate) average housing costs reach 100 percent of average income.

    Or is that health care costs that will rise to 100 percent of income, which is what the health care industry expects, at which time we will all starve?

    Or student loan payments, after tuition rises indefinately?

    Or taxes without services, as public employee pensions and retiree health benefits escalate indefinately?

    Sounds like a lot of people have based their assumptions on getting more and more of people’s money. All paid for by borrowing. That can’t go on forever.

  2. i am just curious if the carnage on wall street will have any effect on pricing in the nyc area?

    oh yeah it is different here

    cannot wait to see the idiots paying over a million or 2 bucks for a pile of bricks in brooklyn to get buyers remorse

    scorn me now but it is coming soon to a brownstone near you