This Year's Li Housing Market Expected to Be Hot

Summary

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The sky may be sunny above Long Island's residential real estate market right now, but storm clouds have gathered on the horizon as rising interest rates, building moratoriums and red tape-bound affordable-housing initiatives threaten to rain on the parade.

In 2004, the market re-mained stalwart. The demand for homes outstripped supply, forcing home prices skyward and leading most industry-watchers, from developers to brokers, to believe that the market will be seeing more of the same in 2005.

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Extract

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This Year's Li Housing Market Expected to Be Hot

Last year was one of the best we've had in a long time, said Dan Ryan, president of Ryan & Walis Realty in Long Beach and president of the Multiple Listing Service of Long Island for 2005. Noting tha...

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