With Wall Street still entangled in the credit crunch, some 38,000 people in the finance industry have lost their jobs, and thousands more have seen their bonuses evaporate. The turmoil now seems to have finally infected the real estate market. Bloomberg:
Manhattan apartment sales fell in January and February from a year earlier and new properties came to the market at the fastest pace since at least 2000 … Transactions slid 6.4 per cent to 3,250, while the number of condominiums, co- operatives and townhouses for sale at the end of last month climbed to 6,225, 15 per cent more than at the start of the year.
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