"Brooklyn, Queens housing prices down steeply," - Crain's NY

A recent article in Crain's NY reported that sales volume in Brookyn dropping overall 29.7% the second quarter. This estimate was compared to reported sales figures second quarter 2008. According to the article based on a report by Prudential Elliman and appraisal firm Miller Samuel Inc., Bedford Stuyvesant and its neighboring East Brookyn communities, made up the weakest housing market with median sales prices falling 18.3%.

A recent article in Crain's NY reported that sales volume in Brookyn
dropping overall 29.7% the second quarter. This estimate was compared to
reported sales figures second quarter 2008. According to the article based
on a report by Prudential Elliman and appraisal firm Miller Samuel Inc., Bedford
Stuyvesant and its neighboring East Brookyn communities, made up the weakest
housing market with median sales prices falling 18.3%.

According to Mr. Miller’s report, the weakest housing market in
Brooklyn was east Brooklyn, which includes the neighborhoods of Bedford
Stuyvesant, Brownsville and East New York. Median sales prices in that area fell
18.3% in the second quarter and sales dropped 39.6%. “That is where a large
portion of foreclosures occurred,” Mr. Miller said. “East Brooklyn has its work
cut out for it.”