01/06/09

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80's vs. Now: How far does the apple fall?

If history teaches us anything, it's that people don't learn from history. Despite that, it's worth looking at New York City's last big housing downturn -- which started with the 1987 Wall Street crash and lasted through rock-bottom one-bedroom prices in the early '90s -- to get some sign of what we might be in for.

Here is a quick then vs. now snapshot.