07.10.2008 - New York property suffers from job losses and lack of Euro interest
From Propertywire.com: Property in New York is heading for major price falls as high earners in the finance sector lose their jobs and bonuses and the number of foreign buyers drops. Analysts believe that although New York real estate prices have held steady in the last six months since that's about to change. At the luxury end of the market million dollar plus properties are lingering on the market for up to 90% longer than they did before the current finance crisis even in popular areas like the Upper East Side, Soho and West Village..... Full Article: Source