2009, Welcome
The New York Observer reports: This year will be remembered in New York as the one when the real estate boom definitively ended. On the ropes since at least the summer of 2007—when the subprime mortgage crisis snowballed into a general credit freeze—the market, both commercial and residential, stood still by the fall of 2008.
Research firm Real Capital Analytics released a now-notorious list earlier this month showing 268 properties in the New York area in some form of financial distress.
View the full article on The New York Observer: 2009, Welcome
Posted by: Nina Turner