Quote:
Originally Posted by Discuss Thrower
It's probably a big reason why NYC's housing market has been riggity riggity riggity wrecked.
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I'm looking it up, and it seems like the effect would be large on homes over $750,000 and on homes that are at the lower end of the national price range. I could do the math to figure out an estimate on the low end, but the general rule is that the lower the price, the more negative the impact.
So logically it seems like you'd see declines in prices at the low end and high end of the scale, and little or no impact on homes in the middle of the range (which is probably the $300-600k range).