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The Real Estate Deal
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Look at a bar chart of home sales or year-to-year price changes.
Like buildings in lower Manhattan, the bars rise gradually, peak at the edge, and then drop straight into the Hudson. Recently, there's been big drops in existing and new-home sales.
The frothy double-digit price environment you enjoyed (or dreaded, if you were a left-out buyer) has gone the way of silent movies.
On the surface, it's not a very stable or encouraging environment to buy residential real estate. Or is it? ...
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