Credit Market Crash Hits Where It Hurts

The credit market crisis has put thousands of high-paying Wall Street jobs in jeopardy, and the shock to the $2 million to $10 million real estate segment is substantial. Price cuts in Manhattan’s ritzy neighborhoods have jumped 17 percent since last week and prospective buyers are evaporating, reports The Wall Street Journal. The only good news is that the $20 million-plus segment is still strong.