Covid-19 has dealt a blow to New York’s luxury real estate market that is worse than the 2008 financial crisis and the 9/11 terrorist attacks. The virus plowed into a market that was already scuffling, and industry pros now say that to encourage deals they may have to provide additional discounts that will sink prices even further, according to the Wall Street Journal. Manhattan home sales cratered 56 percent year-over-year between March 23 and Aug.
source https://therealdeal.com/2020/08/21/blow-to-luxury-market-from-covid-worse-than-impact-of-9-11/
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