25 May 2009

Well, this is kind of gross

If you were needing to vomit for some reason, this ought to do the trick:

“This isn’t like your typical Nor’easter where a tree falls and your lights flicker,” said Michael Daly, founder of the buyers’ brokerage True North Realty Associates in North Haven, New York, and a Hamptons real estate blogger. “This is more like a Katrina,” he said, alluding to the historic 2005 Category 5 Hurricane. “It’s going to be a number of years before the market recovers.”

Yes, that was Hamptons home prices falling = Hurricane Katrina.  Poor people starve, lose their homes, some die...yes, it's just like when Bitsy, oh dear, wakes to find that the country manse is worth less than she paid for it.

(h/t Balk)


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