Bklink: Real Estate Market Rumbles

It's hard to make too much of this, but there something in the decline reported in "four Brooklyn neighborhoods hard hit by the subprime lending crisis over the past six months." A report from HMS Associates says that home sales in Bed-Stuy, East New York, Brownsville and Ocean Hill were down 64 percent. The reports author says he thinks an analysis coming out soon will show a more widespread drop: "I think we’re going to see a lot less sales in the better neighborhoods and probably even a drop in prices as well."--Crain's