Bank bailouts are back! We're all reading the headlines, and we wanted to provide our insight on how the events of the past week will affect the New York housing market.

Here are the two most pressing takeaways:

• If the Fed raises interest rates next week, we expect the New York housing market to continue its logjam, with prices weakening further to meet current market conditions. Instances like this are where cash buyers have the upper hand and will likely flock to this safe-haven hard asset.

• Manhattan is predominantly a finance industry-driven city. In the event that Wall Street layoffs rise, we can expect an increase in inventory (and value) as people look to shed property due to loss of income/earnings.

Here's a recap of the events this week and how it relates to New York real estate:

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