Sunday, August 15, 2010

Nouriel Roubini on The luxury Real Estate Market

Nouriel Roubini : "It’s not as if there’s infinite wealth. There are thousands of new luxury units coming on the market, and the question is, who will buy them? If people start losing jobs, who can afford to pay 2, 3, 4, 5 million dollars? Do you know 10,000 new investment bankers on Wall Street?"

Quoted in S. Jhoanna Robledo, “The Descent,” New York Magazine (2006-09-24 )

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