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Local Market Observations!
Posted on April 19, 2008
What do you see in your local housing market this weekend? Lower prices? Home prices in New York s Long Island suburbs fell in the first quarter from a year ago and the number of properties for sale rose. The market is certainly weaker than it s been in the last couple of years, said Jonathan Miller, president of New York- based Miller Samuel. It s not subprime, it s credit in general. Any time you place a restriction on credit, in this case tighter underwriting standards, you restrict the flow of sales activity. Builder pullbacks? One of the nation s largest new ...
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