The NYC real estate market keeps flashing signals that it’s about to really bust, but so far the dam hasn’t really burst. But when it does, there’s every indication that it’ll be vicious.
A new Deutsche Bank research report looks at markets that potentially have the hardest to fall and finds the NY region the most vulnerable, with a 47% price plunge possible. Does that seem severe? Maybe. But we could see it, given that New York is at the epicentre of the weakest industries in the world: Wall Street, law and media.
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