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Foreign economic crises felt in New York City housing market
A commentary argues that the root of the Asia problem is excessive lending by banks based on inflated asset values that were not supportable in the marketplace. This underlying weakness manifested itself in dramatic shifts in the money markets. The shift in money, particularly to the US, found an ap...
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Published in: | National real estate investor 1999-02, Vol.41 (3), p.80 |
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Main Author: | |
Format: | Magazinearticle |
Language: | English |
Subjects: | |
Online Access: | Get full text |
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Summary: | A commentary argues that the root of the Asia problem is excessive lending by banks based on inflated asset values that were not supportable in the marketplace. This underlying weakness manifested itself in dramatic shifts in the money markets. The shift in money, particularly to the US, found an appreciating home in the stock market, thereby leading to dramatic price increases. One of the trends affecting the multifamily industry in the next few months is that lower-priced apartments will continue to remain strong because rental alternatives are extremely high-priced when compared to purchasing options. |
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ISSN: | 0027-9994 |