Ha! Could this explain Nobel economist Paul Krugman’s recent turn to the bullish-side?
As the New York Observer reports, Krugman has splashed out $1.7m on a three-bedroom Riverside Drive Manhattan apartment.
Apparently, it looks something like this:
Unsurprisingly, many are asking if the move could be a clandestine signal from the bearded blogger regarding the New-York real-estate market. The Telegraph, for example, asks:
Is Paul Krugman, the Nobel-Prize winning economist and leading commentator on the financial crisis, telling us something significant about the US housing market?
But Krugman’s retort via the New York Observer quite simply states:
“We really wanted a place that has the ultimate New York luxury, which is a washer and dryer,” Mr. Krugman said this afternoon.
“Yes, I do expect New York prices might fall some more,” he offered, “but we need a place. And I came into some money.” He chuckled awkwardly, because he was referring to his Nobel, which comes with about $1.4 million. “We have financial resources that we didn’t have before.”
And he’s not done too badly. The Observer reports the flat was originally listed early last year for $2.5m, coming down to $2.2m and then $1.85m before finally being plucked by Krugman for $1.7m.
Related links:
Paul Krugman Gets a New Place to Hang His Hat and Nobel - New York Observer
Volume alert – FT Alphaville