Thursday, March 26, 2009

When it all Falls Down...

By: Alcides Hoy Jr.

With the Big Apple being one of he many places us college graduates drift toward, we must be concerned on how those Manhattan homes and apartments are holding up. As we go through this economic crisis Manhattan real estate sales begins to decrease. We could suspect the harder the fall the further the sales will drop. So many people are losing their jobs and not receiving high paying jobs which is making it difficult for anyone to afford an apartment in Manhattan. The worst part is that inventory is accumulating faster than Real estate agents can rent these spaces. Now banks are not trying to give out credit to just about anybody which leads us to think how will we pay for these high class living quarters. Its as if they leave us with no choice but to search for different job markets to apply to. The longer we have this economic downturn the harder it will be for the New York City real estate market to get back on track. So now we have to pose a challenge to ourselves and think what can we do to change this harsh backdown?

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