The Manhattan real estate market has been extremely resilient the past 1-2 years, but with all the Wall Street turmoil, the coming year could be a difficult one. Why is this going to happen? Read below.....

First up: Job losses on Wall Street. In 2006, the most recent full year of New York State Department of Labor data, finance and insurance companies employed 15.7% of Manhattan's workers. They earned an average of $269,000, more than 2.5 times the average private-sector wage. Property prices will suffer from slashed bonuses and submarine stock options, not to mention the pink slips.

Link to Wall Street Journal