With Wall Street Layoffs NYC Real Estate Takes Hit

With Wall Street Layoffs NYC Real Estate Takes Hit

While most of the United States has suffered a housing slump over the past two years, home prices in New York's Manhattan have been largely unscathed, propped up by demand from Wall Street bankers and the island's limited housing supply.

That could change as the housing crisis comes back to bite the banks that securitized sketchy mortgages, leading to layoffs on Wall Street and smaller bonuses for bankers who keep their jobs.

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