Dick Bove, a Rochdale Securities analyst who clearly has read up on Idealist philosophers, says that BofA fails to meet the Hegelian test, according to Crain's. What? Bove "cited BofA's failure in living up to the teachings of 19th century German philosopher Georg Wilhelm Friedrich Hegel," Crain's says. "In a Hegelian cycle, events keep returning to the same place. However, that
"Rising unemployment and an increase in purchases by first-time home buyers have combined to diminish the number of new apartment leases signed in the third quarter to levels 58.9% below those of a year earlier, according to the latest Manhattan rental market report, released Thursday," Crain's New York reported. "Meanwhile, the median rental price in the third quarter slipped to $2
Manhattan has a reported 18.6-month supply of condo units. Unfortunately, as Crain's points out, those figures may overstate the health of the market because it leaves out "so-called shadow inventory" that isn't reflected in the data because the units are held by developers in unfinished buildings.