The Real Deal New York

Residential market halts in its tracks

November 13, 2008 05:50PM
By Candace Taylor


From the November issue:
Wall Street’s recent wild volatility has caused the New York City real estate market to freeze in its tracks, with sales volume screeching to a halt and deals falling apart as potential buyers have watched their net worth evaporate. With the passage of the $700 billion financial rescue package on Oct. 3, analysts hoped the nationwide economy, mired in the credit crisis and housing slump, would show signs of improvement.
 

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