NEW YORK CITY—In his most recent post, Ethan Penner looks at the decline of the bread baker, and what that could mean for New York development strategies at large.
Visiting the baker was a highlight of his youth, Penner remembers. And yet, Penner notes, that while the baker's prospects were secure and his or her product always enjoyable, much like the cigarette it has become one of those items shunned for the sake of health. With the fate of the baker as an example, Penner reflects on the danger of believing that past results will dictate future performance, and examines what this means for the main pockets of commercial and residential real estate in New York City through the next decade, and especially their valuations.
To read the full post, "Bread is the New Cigarette," click here. For more posts from Ethan Penner, click here.
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