New York

[Patriotic]

Fewer people looking and qualified for loans.  Otherwise, most good neighborhoods experience no more than 5% to 10% price drop.  Never show genuine interest.  Seller still think they can command sales like they used to.

The trick to a quick negotiated sale is to make the seller squirm. 

[chris-carter]

Thanks for your answer i really appreciate it. What about the idea of buying power of common people during a critical economy of a country?

[peter11]

Downturn in Economy have serious affects on this business.Due to lack of job security and bank tightening their landing requirements less people look forward for buying home.

[propertyroster]

Real estate represents a significant portion of most people's wealth, and this is especially true for many homeowners in the United States. The average American has nearly one-third of his or her net worth tied up in real estate, translating to a valuation of nearly $20 trillion dollars for the entire market. The size and scale of the real estate market make it an attractive and lucrative sector for many investors. This article will look at some of the main factors that affect the real estate market and the variety of investments available.

[LeonardVice]

When the economy is down, unemployment rises - unpaid mortgages/loans rises - people do not have enough money to get a loan, buy a home, or even rent, - higher rates of foreclosures - realtors record low sales - real estate market gets down.