13.10.2008 - US property market taking new hits
From Propertywire.com: As European leaders meet in Paris today to try save the continent's banking system there is concern that not enough is being done in the US where the credit crunch originated. The fate of one of the strongest property markets in the world hangs in the balance as Wall Street stalwarts crumble and job losses loom over the Big Apple. The property sector in New York is now described as being static. New development has been scaled back because no lender is willing to finance even the most sure-thing projects..... Full Article: Source