NY Feeling the Strain, Ain't it a Shame

The media has admitted that the bubble is dead in Harlem NY. The bubble was lots of fun in Harlem NY while it lasted but now it is feeling the blues bad. In the words of the old song, "Now it's feeling the strain, ain't it a shame--- Give me the beat boys..." It had to go down, but going down to one-third of what it used to be is killing lots of rehab projects. You want me to go to Harlem rehab, I say no, no, no. Can't afford it.

Harlem was the place of the biggest real estate bubble of all in the NY metropolitan area, and some of the burial is going on only during dark, moonless nights. The 125th Street corridor project is severely affected, with the major tower at 125th St and Park Ave shaved down to a less than 10 story building, not 15 or 20 stories. Whether the whole 125th st corridor project will die is a matter of speculation. Even on the west side, Columbia University probably also lost lots of money off of their endowment. Of course, Goldman Sachs is now making money again, stealing that is. Maybe they will just buy up everything when it hits ten-cents on the dollar.