In the business section of today's New York Times, there is an interesting report on the ongoing debate regarding whether there is a housing bubble. This article fails to address the issue regarding a potential bubble in the New York City region.
On the Commercial front, the "gray lady" reports that rents in Times Square have been skyrocketing. The New York Post reports about Bay Ridge, Brooklyn, some see as the "new" Park Slope. However, there is a lack of true deals in the area, and the commute can often take more than an hour into Manhattan.
Newsday reports that there has been a slight upturn in interest rates. The article states that "experts" do not believe that this is a sign of an accelation to come.