New Yorkers’ vacation homes: A day in paradise clouds over

From the January issue: New York City has weathered the national real estate downturn better than most American cities, but how have New Yorkers’ favorite vacation destinations stacked up? This month, for The Real Deal’s special supplement, we look at the second-home markets in destinations where New Yorkers have traditionally flocked for their holidays, to relax with a book on the beach or to hit the ski slopes. Broadly speaking, today’s credit crunch is spilling over into the second home market. But within that market, it is homes priced at the mid-level, not the ultra-expensive, that are feeling the pinch. Experts say that prices are dropping faster for mid-level second homes than for primary homes.