New York City Real Estate Falls In Price

The New York Post reports prices are falling in NYC:

Here's more grist for the bubble babble: Residential real-estate prices in Manhattan have been plummeting this summer.

The average price of a Manhattan apartment has dropped from $1.332 million in June to $1.145 million by the end of August — more than 14 percent, according to the latest monthly report by the Halstead real-estate company.

Likewise, the median price of the Big Apple's condos and co-ops has dipped from a high of $831,250 in June to $725,000 in August, a 12 percent drop.