America's Most Troubled Luxury Neighborhoods

ABC News:

Has the housing market scraped bottom? Not in some of the wealthier neighborhoods -- places like New York City's Greenwich Village, Santa Monica, Calif. and Chicago's Lincoln Park. They held up nicely while the rest of the country slumped last year. This year such Tiffany zip codes are on track to fall 15 percent to 25 percent.

Read the whole story: ABC News

Comments

[merger]

I am not identifying with their pain--at all.

[Bitsko]

Must really su.ck to be rich right now. Too bad.

[digital]

Please stop posting these stories that link to a site (ABCNews) that link to Forbes.com

These top 10 lists are annoying since you have to click through several pages to actually find out what they are talking about.

Thanks!

[Badger84]

You're making me cry!

[mamacat]

A bit off-topic, but there is nothing on Huffpo about an article mentioned in the Los Angeles Times, relating to housing construction.

It has been reported that some building materials imported from China have caused bad odors in buildings in which they were used, and that the materials have an unfortuneate level of radioactivity.

A few months ago, there was a similar article in Der Spiegel about steel imports contaminated with radiation, from India. France, Germany, and Sweden have all complained to India about shipments of steel with intolerably high levels of radiation. The materials were in some cases returned to India. Since I haven't seen any articles mentioning the refusal of entry to steel from India to North America, I am led to suspect that India has rerouted those dangerous materials to us, since our Dept. of Homeland Security is much more lax at screening for radiation than the European counterpart.

What is going on in India and China? Have they solved the problem of what to do with their radioactive waste, by sending it to us in consumer products?

[fairdebate]

America is done...High Corporate Tax,Cap Gains Tax,and Income tax have destroyed our Industrial Manufacturing Base...Cap and Trade Will finish it off completely...We will become a lost nation of soft Tyranny....The new World Leaders will be China,and India...Both theses countries have ditched Communism,and Socialism for Capitalism....The more Capitalism they use..the better and stronger they will become

[Rickter]

Oh my god, this is horrible news. Shouldn't we be holding a telethon, or at least a bake sale for these poor, poor people.

[fairdebate]

This is bad news,,,,the rich are where our paychecks come from...Obama cant pay you,unless others make the money first

[mamacat]

Only if one believes that the rich produce everything (or anything at all), and that the rest of us live off of the crumbs that fall from their tables.

[Merckx]

You're thinking like a Republican. Which is to say, you're not thinking at all.

[momofvegasgirls]

xtiangodloki

Greenwich Village IS NOT a suburb of NYC! It is at the heart of downtown NYC, ON that island called Manhattan. Truly, is this how opinion is formed? Get a map......

[Harrier]

I see absolutely no help coming to the middle class at all. Everyone I know anticipate losing their jobs between now and a year. There is no way the recession will end this year or next. It is all a way of the administration of trying to buy more time to make more penny wise and pound foolish decisions. California, Michigan are being torn apart and the economies are much worse the the administrations lets on. Why, because the majority of people being laid off are the people who have been working and been the most dedicated in the country and working the longest period of time. This country needs to build desalination plants for the west coast and better water collection. Prisons need more guards and more social workers to work with families who cannot help themselves. People in Luxury neighborhoods can survive a lot longer than families living paycheck to paycheck. The government appears to be sleeping and concerning itself with meaningless issues. There are no priorities.

[fairdebate]

We have fallowed the game plan of the Great Depression..This will last for as long as Obama is in office...

[beckpod1]

Greenwich Village apartments the size of maybe four small bathrooms go for $2500. a month..and that is the 1994 price....supply and demand!

[ejhickey]

If house and condo prices decline 15% in Chicago's Lincoln Park, real estates taxes should decline by an equivalent amount.

[fairdebate]

We shouldn't even be paying taxes on our houses(its unconstitutional)

[jazzman]

The real estate will sell. It will be owned by those who own the debt. Pretty soon all the addresses will have Chinese surnames.

[tdom]

Now they're burning the "sonder commandos". It's just about game over.

[publanski]

Oh no, what are these poor rich people going to do?

[daedelus]

Every Canadian I know, myself excepted, has derived considerable pleasure from America' economic calamity. I've been saying the same thing since the beginning of this thread, but don't let that dilute your high-mindedness.

[111]

I don't blame them.

[merger]

And why is that ,neighbor?