>The early response has been positive, if modest. Even if prices haven’t skyrocketed, the time Manhattan’s luxury co-ops are staying on the market has plummeted, dropping 49% in the second quarter from the same period a year before, according to an Elliman report.

Comparing the prices to those a year ago is a myopic approach to assessing the impact of introducing financing options. The home purchasing sentiment index is down 18% compared to a year ago across the entire country.