On his Chicago real estate project.
Read it here:
http://www.iht.com/articles/2008/12/04/business/norris05.php
We will only add that the real estate collapse is global. To think that any city in the US is immune is the height of fallacy. Some markets will hold up better than others.
Obviously each market will fall on its own time, but they will all fall. Phoenix, Miami, NYC, DC. The trend is down, it is only the magnitude and timing of each market that will differ.
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