Quick! Brokers buy up every NYT

Still mostly in the commercial sector (the analysis and article), like the one I posted earlier:http://www.streeteasy.com/nyc/talk/discussion/5357-wall-street-tumult-casts-pall-on-commercial-manhattan-real-estate

What about residential? Still little hard data....

Your generalization of brokers is untrue and I'm offended. Buyers have been at such a disadvantage for years that I'm glad to see the market doing something other than climbing to unsustainable prices. The Manhattan real estate market needs a correction, but the problem is even if it gets to be more affordable for buyers, they can't get lending now, unless they have perfect credit or putting $$$ down.

At the right price people able to make meaningful downpayments will step up to the plate and the market will clear.

Until then we'll probably continue to have gridlock. Alas.

abrokernyc: There is a way to achieve a lower LTV without increasing the downpayment. Hint: It involves the denominator of the fraction (i.e. the price of the apartment).

West81st, you're so right. lol