The Correction Begins – The Copper Liquidation, NYC Real Estate Sales Plunge, Retail Apocalypse Picking Up Steam…

New York’s luxury real estate market is in correction

Real estate sales in the first quarter post their largest drop in nearly a decade and reached their lowest level in more than six years.
The high end of the market is getting hit the hardest, partly because of asking prices.
Many sellers have yet to lower their prices in keeping with tax law changes and a general slowdown since 2014.