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New York

New York City a bubble-proof market?

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Not surprisingly, New York City may be among a handful of bubble-proof housing markets nationwide. Like Boston and San Francisco, the generally higher incomes of many homeowners insulate the city from sharp ups and downs in the housing market. more [CNN/Money]
Meanwhile, some warn: Don’t forget the cyclical nature of housing markets, especially locally. more [BusinessWeek]
And the housing market held back the growth of the national economy in the third quarter, according to new government data. more [NYT]