From Yahoo Finance (http://finance.yahoo.com/real-estate/article/105629/The-World%27s-Most-Expensive-Streets) via CNNMoney.com comes news on the top 5 most-expensive real estate locales in the world.  Topping that list, as most probably expected, is good ol' New York itself. With monthly rent going for an  average of $1,500 a square foot it's easy to see that the U.S. mortgage crisis hasn't spilled over to the posh store fronts on New York's prime retail corridor, Fifth Avenue.  In fact, Fifth Avenue hit a record high this year. 

It appears that European tourists have been primarily responsible for keeping the uber expensive retail space from tarnishing and losing its luster.  I  wonder what, if anything, this means for the rest of the millions of rental spaces across the U.S.?  Is the fact that 5th Avenue continues to increase its value a good sign for the economy?  Or is shopping in New York's elite shops completely shielded from current and future U.S. economic crisis?

Feel free to weigh in.