Keepin’ It Real Estate: Rich Get Stuck in Subprime Slime

By ANDREW JEFFERY This post first appeared on Minyanville. From expansive estates in the Hamptons to mansions on the Malibu cliffs, the rich are watching their vast real-estate wealth evaporate before their eyes. Perhaps no market epitomizes the ultimate surrender of high-end real estate than the island of Manhattan, where housing prices had held relatively stable [...]

January 8, 2009 | Comments »