New York real estate has be doing surprisingly well until lately. Will markets that are late to the party be the first to see a turn around… or the last?
Nosediving Wall Street employment and compensation could also put a long term damper on luxury residential real estate prices in New York.
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Miami Real Estate Attorney 10.07.08 at 8:46 pm
Everything likely needs to come down before it can stablize and turn around. Instead of buying in NY based on the perception that it is holding its value and thus, prolonging the proper value adjsutment, people should invest their real estate dollars in the most depressed markets to take advantage of the eventual turn-around.