Is New York Immune To the Real Estate Burst

Is new york immune to the next real estate burst
let me first mentioned that I have been new York for vacations, it is a lovely, beautiful city. In my wishful thinking, New York is not immune from the problem we are facing in America today. The reality is Manahan is part of the country, so it will face the same problem. I can almost guarantee it because the housing bust is not a state problem, but it is a nationwide problem if not the world. Housing transactions in any country are the largest transaction that goes on daily basis. So, it is fair to say it affects the whole country which includes Manathan. We see that effect every day in the lives of American who are struggling to adapt to new a way of life. The financial system is crumbed by the problem. The crisis is so bad; the fed has been forced to cut rate close to 10 times in one month in order to prevent a recession. Although the fed reaction was a little to late in my opinion. The housing market in New York will see this same bust in the months to come. As an experienced industry observer, I predict that the worst has yet to come.

Edvard Altidor
edvjf03@earthlink.net