Almost all the price cuts today for Manhattan are 10% +

And for some reason I don't think going from $1000 psf to $900 psf is going to do much for any potential buyers right now.

The new news is deflation.

Deadly.

Thanks for letting Lehman go under, guys!

this too shall pass...

Steve. I have noticed that you reference Lehman's as a major turning point. I don't know much about finance, but could you explain what happened to you? I don't want specifics about your finances or anything. Just a short explanation of what you had put your money into and how you lost it.

Lehman is now Barclays -- almost all people I know who were working for them still are -- of course these are the techie types
but would love to hear Steve's story

ccharley,

can you provide some links demonstrating this? i just did a search and i have not found the same thing.

happyrenter, try this:

http://www.streeteasy.com/nyc/sales/manhattan/price_changed%3C2|price_changed_pct%3E%3D10

The link should provide all listings that were modified in the last two days and the price was decreased at least 10 percent. However, I suspect there's a problem with the database query. I checked a few manually and the decreases were either less than 10 percent or in a few instances there were actual increases!

Right--I just tried it and found the same thing. I guess we can put this link to rest!