The Bouncing $ - Another Prop Removed From the Manhattan Housing Market

With the dollar taking off in recent days, albeit from extremely cheap levels, the high end of the Manhattan Real Estate market may experience a pull back from the foreign buyer, especially from the European buyer. The European high end purchaser has feasted on the Manhattan condo market for the past 4 years due to a combination of rising apartment prices and a sliding US dollar (especially vs the Euro where it has been killed during the past 5 years or so). With apartment prices in Manhattan already sliding and the dollar rallying, the European high end buyer will likely be giving second thoughts to buying any future Manhattan apartments.