Manhattan's Foreign Invasion Over?: With construction expected to severely slow... - NBC New York

Manhattan's Foreign Invasion Over?: With construction expected to severely slow...

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    NEWSLETTERS

    With construction expected to severely slow over the next couple of years, what are those new-condo-hungry foreign buyers going to snap-up, resales? How about nothing? The euro is at its lowest level against the dollar in 14 months and the economy overseas is just as messy as ours. The Observer writes: "The possibility of a European slump, coupled with a dour Wall Street economy, has some analysts rightly concerned. 'The fact is,' Mr. Miller said, 'two of the biggest drivers of the past several years are not expected to show up in the way they have in the past in 2009.'" [NYO]

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