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When will the real estate bubble burst?
News of a bursting bubble and increasing foreclosure rates is daily fare in reports of the American real estate market - unless it's New York City's market that's being discussed. Then the picture seems oddly stable; some would even say sunny for the foreseeable future.
The average sale price for a home in the city climbed to $782,000 in the third quarter of 2007, an increase of 20 percent...
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