The Real Deal New York

Editor’s note: Weakness disguised as strength

By Stuart Elliott | September 03, 2014 04:30PM

From the September issue: It’s too early to tell, but it could be a lot cooler for residential real estate in New York this fall than previously forecasted.

Things that have looked like strengths, namely sky-high luxury prices, are now starting to look like potential weaknesses. Real estate pros — even those who are usually cautious in their public statements — are saying those high price tags could start spooking buyers. They’re also acknowledging a decline in overall demand. [more]