Tuesday, September 26, 2006

"Higher-priced markets are seeing larger declines,"

From the NY Post


[In New York City, where the median price for a home at the end of June was $474,000, a steeper drop in home values is expected.

"Higher-priced markets are seeing larger declines," Lawrence Yun, an economist with the National Association of Realtors told The Post. "People just cannot afford them because they've risen so much in places like New York."

Already, local real estate brokers say, the glittering new condo developments springing up around the city are seeing a sales slowdown, and are considering shifting gears to become rental towers.]

Full article....


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