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Real Estate Buyers and Sellers Stalemate

December 1st, 2007

… Mr. Loeb’s lawyer, Adam Leitman Bailey, said he had received it least one call a day from Wall Street workers with annual incomes of $600,000 to S5 million saying they think prices may drop new year. Nearly all of them have decided to hold of on buying Manhattan apartments..

“They’re not going to buy until they have job safety, or the salary or bonus they think they deserve.” Mr Bailey said.

Even some buyers who have strong reasons to move are holding off…


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