Housing Crisis Hits Manhattan
Jun 6th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsHome prices in Manhattan have remained largely immune from the housing crisis gripping the US… until now.
According to Reuters, the New York real-estate market is showing a significant reduction in new deals as Wall Street sheds staff to reduce costs.
“For the most part, the subprime crisis is past its inflection point,” says Eric Roseman in the Offshore A-Letter. “What matters now is how and when other credit indicators normalize.”