Welcome to the buyer's market: Supply is up, demand is down, and prices are teetering. Brokers say buy now – after all, there are deals to be had! But what if you waited? Here’s four areas (and one borough) where buyers would be fools to rush in now. 1. MANHATTAN In Manhattan, prices are falling. But several gauges indicate ...

Mayor Bloomberg and Shaun Donovan, commissioner of the Department of Housing Preservation and Development, today announced that the city's 10-year plan [PDF] to build or preserve 165,000 units of below-market rate housing has hit is midpoint, with 82,500 units financed [press release here]. Among the stats the city highlighted was its strikingly low foreclosure rate. Of the ...

The Financial Times' Jeremy Lemer parachutes into Long Island City and relays the massive changes in the neighborhood back to the folks in Europe. Interestingly, he weaves how government actions, particularly zoning changes, helped spur LIC's rapid development: In 1981 it was zoned as a mixed use district. Then, as now, Romanesque Revival terraced houses stood cheek-by-jowl with factories ...