New York City's housing market is poised to lag behind other markets for the next two years even as a national recovery in real estate continues.

That's the assessment of Capital Economics Ltd. Property Economist Paul Diggle and assistant Michael Pearce, who in a Jan. 28 report said "conditions look less amenable to rising prices in New York City, particularly in Manhattan and Brooklyn." By contrast, average U.S. prices may gain 5 percent a year, they said.

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