Daily Finance - April 2, 2009
In Manhattan, ground zero of the global credit crisis, the housing market is beginning to feel the effects of the disaster that Wall Street helped create. While condo prices have risen slightly over the past year, sales volumes have plummeted, and many analysts predict that New York is feeling only the first tremors of what will eventually be a historic real estate meltdown.

 

  The New York Times - April 3, 2009
Co-ops across the city have raised their maintenance charges by as much as 15 percent in recent months, and one of the main causes is rising property taxes. Board members and building managers say that while maintenance increases averaged only about 5 percent last year, many co-op buildings are now dealing with double-digit increases.