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    Monday, March 24, 2008

    In today's Manhattan, we could do with a little bit of a slump.

    It’s always good to be back in Manhattan.

    And like as anyone would tell you about New York, a lot can happen in twelve days.

    One of New York’s financial firms, Bear Sterns, collapsed. JP Morgan brought it for 270 Million; ten times divided its worth.

    And such are the times that JP Morgan is seen as a liberator, rather than having pulled of a coup.

    They say that the city is in a recession.

    A lot would be said about it. A lot will be heard about it. But as of now, New York prices have not gone anywhere. Real Estate looks as strong as it did a while ago, and for anyone having a doubt that Manhattan has been on a roll for a while, to quote a New York Times Fashion and Style report by Michael Barbaro and Christine Haughney, witness the Marc Jacobs-ization of the West Village, the surging average price of a two-bedroom apartment in Harlem to $1.1 million, and the rise of $15 tubs of ice cream in, of all places, the Lower East Side, at Il Laboratorio del Gelato.

    But as much as the bankers moisturize Manhattan with all that liquidity, as a humble Liberal Arts major at New York University, a little bit of a slump could not be all that bad.

    More so, if it keeps the rents down, good dinners more frequent and helps me keep that West Village existence intact.

    Damn, I love New York more than ever. And a recession does not do that too many cities.

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