New Yorkers get credit crunched

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New York City might seem like an island of stability in a sea of rough real estate waters, but plenty of New Yorkers are dealing with serious housing headaches. An East Village resident had to shave $75,000 off the asking price of her 550-square-foot 14th Street studio after it didn’t sell for $500,000. A 33-year-old managing director with Bond New York is still renting after being forced to withdraw an offer for a top-floor co-op in West Harlem because Countrywide no longer offers loans for top-floor apartments in walk-up buildings. The owner of a two-bedroom Gramercy apartment had to sell it for $100,000 off the unit’s recent appraisal. But while waiting for his apartment to sell, he watched the price of the condo he wanted at a new West 46th Street building fall and ended up with a $210,000 discount. 

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