Has the Super-real estate market finally encountered economic kryptonite? Manhattan's housing market has seemed utterly impervious to any hint of real estate meltdown, even as other boroughs have suffered mortgage foreclosures at four times the national average. But one can't pass a Chase bank branch or a Duane Reade before coming across yet another building going up or being retro-fitted as luxury condos. The New York Times has an article today indicating that the gilded......

According to The Federal Reserve Bank of New York, the 11233 zip code that encompasses Bedford-Stuyvesant and Crown Heights had the highest foreclosure rates for subprime mortgages in the entire nation in October. More than one in four people, or 25.2%, with subprime loans in the zip code lost their homes to foreclosure. That's almost four times the national average of 6.9%. It's a stark example of the toll that the lending meltdown is taking......

An executive at a subprime loan company that was financially circling the drain stated that the murder of his wife and consequent suicide was not related to money worries, but personal problems. Walter Buczynski was a 59-year-old vice president of Fieldstone Mortgage Corp., a mortgage lending company sinking into bankrupty. He'd told neighbors that he would soon be looking for a new job, but they didn't sense an irregular level of distress. Nonetheless, Buczynski broke......

U.S. stock markets have not fared well in just the first dozen days of 2008, as indices are being dragged down by worries about the continuing subprime loan meltdown and the after-effects that a tightening in capital lending could have on the economy. According to The New York Times, Friday was just the worst of a bad stretch across the boards: The Dow Jones Industrial Average fell 246 points, or 1.9%, and is down 5%......