mavericks

Prepare for Shock and Awe in the New York City Real Estate Market

The real estate market collapse, much like the stock market collapse, won't be over until the last pillars of excess finally tumble. Markets like NYC and San Francisco have been mostly immune to the price correction up until now. One reason for this had been international purchasers of real estate while the dollar was weak and foreigners had money. Both of those have gone away. The eastern suburbs of the San Francisco bay area have suffered 40% declines while the city, Marin and San Mateo Counties along the western half of the bay area have suffered modest declines. Again, this won't be over until the strongest markets finally succumb. The sooner, the better.