Despite the recent and predicted continuation of a slide in the housing market, the metropolitan area of Manhattan has baffled and defied all the effects of the housing market crunch. With rising interest rates and house prices falling, the city has managed to top expectations by actually getting a 3.2 increase in apartment sales. Analysts see the major contributors as dot-com millionaires who poured money into hot real estates as the driving force behind the unexpected rise in sales. The said effects of the housing market which can have a profound effect on the coming years expected woes may or may not affect these isolated good news incidents that only time can tell.