As the housing bust finally bites the Big Apple, more sellers are slashing prices in the US financial and cultural capital than in any other big city, says the real-estate Web site Trulia.com.
The prices of 39 percent of homes for sale in the five boroughs have been lowered, Trulia announced yesterday. Until recently, New York seemed immune to the downturn. Since 2006, housing prices here had fallen only 16 percent, compared with 46.5 percent in Las Vegas, 43.4 percent in Miami and about 40 percent in LA.