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| Manhattan property values vs. Dow Jones average. How long will it last?
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| Manhattan Co-Ops and Condos Hold Values
The Beige Book is a report issued by the Federal Reserve which details the economic health regionally throughout the United States. The latest report which was released on March 6 showed consistant drops in home values and sales throughout the country. At the same time, it also showed increasing price pressure for non housing products [...]
The Credit Crunch Will Not Hurt Manhattan Real Estate - 5 Reasons
1. Co-op boards prevented anyone incapable of repaying a loan from buying, despite the fact that greedy mortgage brokers may have approved.
2. The dollar continues to be weak and shows no sign of letting up, continuing to make New York City the location of a global shopping-spree for foreigners.
3. The stock market shrugged off [...]
NYC: Astronomical Home Ownership Rates
Today’s New York Times cites a new Queens College demographic report showing homeownership increasing by a never before seen rate over the past few years in New York City. The article states:
Propelled by a building boom, co-op and condominium conversions, the lifting of rent regulations and the availability of low-interest and risky subprime mortgages, [...]
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