Study: NYC housing prices headed for decrease

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The New York metro region is the second likeliest region in the nation to soon see a decrease in housing prices, according to a recent study by PMI Mortgage Insurance Company and Kiplinger’s magazine. Why? Rising housing prices are driving people from the metro area, sending them far from the city to buy housing what the study termed an “out-migration.” If this continues, New York may a see decline in housing prices. The study put the chance of such a decline at 31 percent. more [Kiplinger’s]