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Article: Housing Bust Now Hitting New York; More Sellers Are Slashing Prices
- Article from:
- The Washington Post
- Article date:
- April 25, 2009
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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-- Right now, somebody in New York City is probably
contemplating what used to be unthinkable: cutting the asking price
for their home.
As the housing bust finally bites the Big Apple, more sellers are
slashing prices in the U.S. financial and cultural capital than in
any other big city in the country, according to data from real
estate Web site Trulia.com.
Currently, prices on 39 percent of New York City's homes for sale
have been cut, Trulia said this week.
The average cut is 14 percent, or $295,194, to bring the average
price to $2.1 million.