Quote:
Originally Posted by Crawford
Obviously no one can predict the market, but we appear to be at the beginning of a cycle, not the end of one.
Why would you think residential demand would decrease, when there's currently barely any residential inventory, and when the local and national economies are improving?
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There's not an infinite amount of billionaires in the world to keep this boom going forever. The market is based on demand and the reason why we have so much demand right now is because people from all over the world are looking for safe investments but at some point just like in any other case, the market will reach its peak and considering all the towers on the way in the city, there will be plenty of supply to fulfill that demand so I find it hard to see this boom going further than the next couple of years. That's just the economist in me, but again that's not an exact science so we'll see what happens.... and besides, if the boom ends in the next 2-3 years, it still means all the towers beeing built and the ones in the pipeline will grace the skyline in the next few years, that'll make for perhaps the best period of skyscraper building in NYC(in my lifetime at least).