http://www.time.com/time/business/article/0,8599,1905085,00.…

now is not the time to buy see article from cnn and time magazine released today all banks expect 40% decline in NYC and North Jersey prices this is not good news

Actually, the answer is no. The reason for this is that there are not many condos in the Village, but rather co-ops. Co-ops were tradionally stricter in their financial qualifications than lenders. They require at least 20% down and have debt-to-income ratio requirements as well as requirements for significant liquid assets after closing costs.

Hello Lauren,

More or less, Yes.. Every area including Greenwich Village is feeling the pressure of the decline in the economy. Foreclosures are not as wide spread in the NYC area as the outerlying areas of Manhattan, but some experts say it will in time. If you look at bank web sites for forclosed properties in NYC... their is not too many of them. With the incline in sales for Feb. I am hopful that the NYC real estate market will recover quickly from the downfall. I hope I was able to shed some light on your question

Regards,
Paul Macapagal
Prudential Douglas Elliman http://www.paulmacapagalnyc.blogspot.com

Every market has been affected. Some markets like Greenwich, scarsdale less but still affected.