Welcome to the New York housing slump

The long-awaited slump in New York’s housing market has arrived. Home prices are heading down in the city itself and in its suburbs, according to Bloomberg. Buyers are pulling back thanks to years of price increases, the new federal cap on state and local property tax deductions and an increase in mortgage rates. Home sales are dropping throughout the country, and the appreciation rate is especially falling around New York. Prices across the country rose […]

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