Sky-high real estate statistics usually don't faze us. A $10 million price tag on a SoHo loft doesn't even raise eyebrows. A dilapidated brownstone in Harlem fetching millions doesn't make us flinch.
But even normally unflappable New Yorkers may be shocked at the latest sky-high real estate number: $130 billion.
Homeowners in the NY metro area lost $130,291,409,688 in home value in 2008, according to Zilliow.com. In the U.S. as a whole, home values dropped about $2 trillion, the study found.
More than half of this $130-billion loss - about $75 billion - came in the fourth quarter, as the Wall Street crisis and other economic woes hit the real estate market - hard, the study found.
Tuesday, February 3, 2009
New York City 2010
