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This immovable property can be land,building on the property or any other attachment on the property whichis immovable. Real estate prices have increased considerably over theyears and any investment in property requires huge sums of money.People investing in Real Estate do it either from their own capital orfrom borrowed capital. This capital can be borrowed from variousinstitutions which create a mortgage over the property and sanctionloans based on the value of the property.Everyone knows that the real estate market is one of the most exciting markets and if it's the New York real estatemarket then you need not look any further. A number of new residentialbuildings have come up in NY in recent times which have led to peoplemoving in the city. This considerable development in the city hasbrought about stability in the prices of real estate in the city.According to Standard's and Poor the prices in New York city has fallenby only 7%, this is very low when compared to Las Vegas and Miami wherethe prices have fallen by more than 25%. New York is always bustlingwith activity and the presence of Wall Street only adds to theexcitement. Wall Street today employs more than 5% of the total workingpopulation of New York City. The salary associated with Wall Street isvery high which has lead to an increase in the purchasing power of thepeople and considerable growth in the income levels of the people. Brooklynand Queens are considered as popular option for people investing inreal estate in NY. People look at investing in Brooklyn because thedevelopment in area has brought about a rise in population. A growth inpopulation has led to an increase in demand for new housing projectswhich the developers are readily cashing on. Queens is also considereda popular option because it's ethnically diverse population bringsabout a good demand for residential projects.Of late, the NewYork real estate market is also having its fair share of problems. Withthe economy moving towards recession and people losing jobs by the day,there is a considerable decline in the tax revenues. Job losses haveeroded the demand for expensive houses and commercial space. The risingcost of building material, such as oil and concrete, is onlyaggravating the problem. The rising the rising cost of labor has alsocontribute to the possible demise of very many major projects in thecity. Low labor availability coupled with high cost of constructionmakes it difficult for new developers to start project(s) in the city. TheNew York real estate markets has good growth potential, but withexternal factors becoming gloomier by the day people have to becautious before making any sizable investment(s). Article Tags: York Real Estate, Real Estate Market, York Real, Real Estate, Estate Market, Wall Street
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