http://www.nytimes.com/2009/11/07/business/economy/07econ.html?_r=1&hp

This is not a good indication of a recovering economy. Some people become positive and upbeat with any little positive news out there. Reality is that unemployment is at historical records and credit market is very tight, both of which will result in increased downward pressure on real estate prices.

How far had the stock market rallied off the bottom in December of 1982? Regardless of what happens to the national economy...NYC has structural oversupply at these prices, they have to go down.

buy now or be priced out forever!