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Greenwich luxury homes get biggest discounts since Lehman crisis

The Business Times
[NEW YORK] The fourth quarter was the best time for luxury-home sales in Greenwich last year. It also had the biggest discounts in almost a decade for the tony Connecticut town.  High-end homes that changed hands in the quarter had their prices cut by an average of 13.5 per cent, the most since the last three months of 2008, when the housing market all but froze in the months after Lehman Brothers Holdings Inc filed the largest bankruptcy in US history, according to a report Thursday by Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.