Looking to buy a home? According to Forbes.com, Long Island is now one of the "Best Places for Real Estate Deals”. Long Island was “the destination of choice for speculators in the metropolitan region during the housing boom,” Forbes says, especially in the upper-end market. The market has slipped here, but "a modest amount," according to Jonathan Miller, president of Miller Samuel, a real estate consultancy.
As prices drop and speculative investors bail out, the market will stabilize and return to health.