Bulletproof housing markets get hit

Prices in Manhattan will begin to flatten and decline during the 4th quarter of 08 and first quarter of 09. This is the year when Main Street catches up with Wall Street. The pot of gold bonuses are over. It isn't international appeal that drives the Manhattan real estate market, it's Wall Street bonuses. And the financial district jobs are evaporating as I type.

The subprime pipeline has a ways to go. Very much like a virus infects humans- it must run it's course. In 2002 the rebirth of the subprime mortgage began to prevent our economy from dipping into recession. In 2007, the market shows the first short sales and foreclosures. The 125% rule of negative amortizing loans continues to trigger as housing prices slide, leaving more inventory on the market ahead...

1.  Article mislables areas of country as bulletproof when they are just slow. 2.  Mainstream media articles written to elicit response are often misleading. 3.  Real Estate is local, never national.