Although the United States the real estate recession in the past three years growing, but the Manhattan real estate market does not seem to be affected. And other parts of the country different from the collapse of housing prices, house prices continue to soar in the region, sales rose a straight line, the new apartment building project The total number of bidders. For a very long time, the Manhattan real estate are unique to itself in the form of operation. But a growing number of signs that this may be the last bastion of the collapse will also

Many signs that the U.S. real estate market last a bastion of luxury real estate market base - Manhattan real estate will soon collapse. MillerSamuel the data shows that housing prices in Manhattan not only in the second quarter of stagnation and even regression there. Manhattan last quarter the average price dropped to 1.7 million U.S. dollars, compared to the first quarter fell 3 percent. The Beach housing prices to even greater value in its price from last year's 825,000 U.S. dollars to 735,000 U.S. dollars, a decrease of 11 percent.

Rich area of the accident arrival of winter

New York's largest real estate group CorcoranGroup帕梅拉莱曼CEO, said: "Two years ago, you casually move some bricks okitchen and bathroom for a price, will trigger a bidding war . Buyers are now feeling, to the house today, tomorrow it may be fall. "

Corcoran said that its traditionally the hottest real estate quarter, the second-quarter sales plummeted 38 percent, a five-year low. In addition, the turnover of beach houses to crack down on the fourth consecutive year. The second quarter only sold 576 units, compared with last year dropped by 29 percent.

Analysts pointed out that New York City real estate market with a record of 2007 compared to the current decline in housing prices is not great. However, taking into account second-quarter sales usually account for the full year will be a large part of which prices also rose sharply, then reversed for the American people have to pinch the housing market to Khan.

In addition to sales and lower prices, housing on the market at the time was longer. New York residential real estate appraisal company MillerSamuel the report said, from April this year to June, the registration of real estate for sale, the average period of 135 days, than the same period last year extension of three weeks. Lehmann said: "We may be going through a cycle products will be stranded in the market cycle. In this market, almost no room for mistakes."

Financial scattered the culprit

Experts believe that Wall Street investment banks to flee the real estate market is the chief culprit in the collapse of the market overall. If there is no financial cushion Wall Street, other parts of the United States economic slowdown began to affect the pressure of Manhattan a long time ago.

According to the New York State estimates that the loan-to-crisis forced the merger and other transactions gradually stop, resulting in the majority of investment banks difficult. The financial industry in the past year has generated 40 billion U.S. dollars more than the loss of employees bonuses will be reduced by 21 percent, layoffs of tens of thousands of people. All this is forcing many people to leave the housing market. The downturn has also affected the financial sector outside the mansion to the U.S. market. The United States and Europe have a resort to the use of high-end housing co-founder of the club, even if the Texas oil attract a large number of households, leave the "firmly living in a dominant position" of hedge fund managers, its business in New York recently has been in the doldrums .

The United States at present, only the most senior of the success of high-end housing prices to live their own - and also gained some. Central Park West Road on the 15th is the former chairman of Citigroup Sangdiweier such as the shelter, its A-class apartments (most owned apartments) changed hands every time, the price rose several hundred thousand dollars.

Experts believe that this is due to come from Europe, Canada and the Middle East real estate investors Manhattan is still active. These investors often choose cash payment, without the need for mortgage financing. But rely solely on these rich foreigners is not sufficient to support the entire market, the U.S. real estate market is not optimistic about the future.

Local real estate experts even believe that the U.S. presidential election also increased the pressure on the real estate market. The real estate market every four years will occur regularity of the doldrums, because the buyers have to wait for the United States shows its future direction. "Credit crisis and the combined effect of the presidential election this fall will allow even more depressed," Corcoran senior vice president Robbie Brown said, "Both Barak Obama or John McCain is elected, no one likes Change. "