How fiscal policy negotiations in D.C. are impacting NYC’s housing market

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From the December issue:  Manhattan’s luxury residential real estate market will remain in limbo for the remainder of the year as speculation continues over how negotiations on the nation’s fiscal policy play out in Washington, brokers say. While some buyers and sellers are rushing to close on deals already in motion in order to avoid an inevitable rise in capital gains taxes, brokers said, consumers still considering a sale or purchase are holding off. They are waiting until Congress agrees on a plan to deal with a confluence of fiscal issues, including the expiration of the Bush-era tax cuts, spending cuts and the national deficit. [more]