Prices for swanky Manhattan property fell by 20% in the last quarter of 2008 and could possibly fall by another 50% this year according to Barron's, a weekly magazine.

ECONOMIST: Producers of luxury goods are suffering in the downturn

Reducing the Fed's bond purchases would likely cause interest rates to rise, making loans more expensive, and possibly cause stock prices to fall.

NPR: Fed Stands By Stimulus, Sees Stronger US Economy

Chen Zhi, vice head of the association, estimated that housing prices in Beijing would continue to fall, and possibly at a faster degree.

FORBES: Beijing's 5% Housing Correction Far From A Collapse