Is Manhattan RE part of the USA?

The WSJ recently observed that in comparison to the country as a whole, Manhattan is a global city made up of residents and investors from all over the world. Unlike "Main Street, USA" which is more bland by NYC standards. Extreme wealth from all over the world descends on Manhattan where inventory is always light since this is an island with very little room for continued expansion and growth.

This opinion by the WSJ stems from the fact that while doom and gloom continues to haunt the housing market nationwide, NYC prices have risen 14% in the past 12 months, inventory is down and closings are up. We are an anomalies unlike any other housing market in the country.

Its why I wake up in the morning anxious to go to work. Running a large residential brokerage in "The City" is a real privilege and a great way to make a living.

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