How ny real estate scene has never been affected by this stupid recession

Being in the sudden and unexpected (and awful) situation of having to find an apartment to live in less than a week, I started again where everybody starts from: craigslist.
And here is one of the 'precious' STEALS (as they call them) that I just found:

http://newyork.craigslist.org/mnh/abo/1332965919.html

This gives the perfect good idea of how way too many people are way too desperate to live in this city that is really starting to get on my broken nerves.
First, they call it LARGE studio - now, does the person that wrote this posting consider measurements in Lilliputians standards?! If THAT is big, then I can start playing basketball in the NBA.
Second, it's priced CHEAP because the bathtub is in the kitchen?! What kitchen?! and what CHEAP?! $1,250 for a room the size of my brain is not damn cheap. And seriously, ENOUGH with this bs of putting showers and bathtubs in the kitchen - I dare the owner of this place to show me how he enjoys his bath in the kitchen while his guest (if he fits) waits for dinner to be ready in this spacious living room. F*ck it.