More Downward Pressure For New York Real Estate As Wall Street Bonuses Down 44 Percent
Wall Street bonuses, the lifeblood of the luxury market in New York City, are down 44 percent this year.
With average housing prices in Manhattan hovering in the million dollar range 2009 could be a very tough year for agents.
The effects on New York real estate will be myriad: the top end of the luxury apartment market, for one, will find far fewer buyers; mortgage lenders will find fewer qualified borrowers; the rental market may actually feel a slight bounce, as would-be buyers, shorn of bonus liquidity, rent for a spell on their suddenly longer way toward homeownership; and, for the commercial market, the decline in Wall Street compensation could lead to empty desks through layoffs or other turnover, which will eventually create more space for lease and sublease. via Observer.com
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
Comment by Albany Homes on 29 January 2009:
Couple the fact that earnings are down with tightening in the lending market spells doom for high end real estate.