The Real Deal New York

Condo sales may slow and vacancy rates increase if the crisis on Wall Street worsens, real estate experts say. “Housing doesn’t get fixed until credit does and that’s going to take a while,” said real estate appraiser Jonathan Miller. Large redevelopment projects on Manhattan’s far West Side and in Downtown Brooklyn may also be delayed by the economic slowdown. But, Steven Spinola, president of the Real Estate Board of New York, said he expects the development situation to improve in nine months.