Long tail city
Posted by clubsodaandsalt on April 14, 2007
On the one hand, you have the huge run-up in the wealth of the super-wealthy (I pretty much share the Tyler Cowen take on this). On the other, you have the persistent climb of the New York real estate market. With NYC being a capital of finance, the two are obviously related; but what’s that mean? Is Felix Salmon right when he says that New York’s density, vibrancy, and incredible wealth will combine to drive property values exponentially forever?
Man, I should really start looking into the whole hedge fund thing.