Thursday, April 2, 2009

Round 2 ding ding

Housing bust hits Manhattan

During the boom years, Manhattan was churning out double-digit price increases, with a 20% jump, for example, during 2005. ============= "The tipping point was in September and was largely triggered by the bankruptcy of Lehman Bros. and bailouts of AIG, Fannie Mae and Freddie Mac," said Miller. "This marked a sharp contraction of credit, greatly restricting demand as participants had more difficulty obtaining financing.

Posted by mark @ 11:11 AM (584 views)
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