A Boom With Two Views

Real Estate Stretches Skyward; Poverty Scarcely Budges

What does the new year hold for each study group? CSS president David Jones says even if the market maintains its upward trajectory, the poor can expect little improvement. "Perhaps more than ever before we are creating a dual city, and that's not good for anyone, including business," says Jones. And while the rich can bank on at least short-term prosperity, the city's fundamental housing shortage—even at the highest end—means buyers will still get squeezed, says Jonathan Miller, who crunched numbers for Douglas Elliman. But he's not without optimism. "Maybe," he says, "we'll see a little more sanity into the year 2000."

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