A roof over your head

I see 'R' and 'E' in everything: EvERything. See?

It seems if you are not talking about real estate in New York these days, you're not talking about anything worthwhile. During the first couple of years into the current millenium, I'm sure the talk in town was "Where should I buy?" "How much do you think property prices will rise?" and all that. Now it is "Do you think it will continue to rise?" "The bubble will burst" "No, I can still keep buying - the market will continue to rise". We are certainly in the middle of a frenzy.

Manhattanites simply cannot help dropping into the conversation how much they think their house is worth. Or how someone has bought a new flat for yet another shocking sum:
"F. bought a flat in Chelsea for $780,000."
"What? How big is it?"
"650 square feet."
"[J-A utters an expletive]."

"My neighbour sold his 300 square foot studio for $290,000."
"[Expletive]."
"We offered him $250,000."

New Jersey is certainly riding the boom:
"A starter home in this community sells for $550,000."
"[Expletive]."
"I know. It's so not worth $550,000. It's crazy."

Buy, buy, buy while you can, sang the demented goats of real estate investing. The market will carry on rising, we haven't reached the peak yet. We'll be OK for several more years. I wished I knew how they know so well. Then, as if on cue, the New York Times printed an article analysing the effects of the bubble bursting. Bewildering, conflicting predictions abound. In the meantime, people just keep buying.