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Bonus Bouncing

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As Wall Street begins doling out this year's bonus money, the lower part of the luxury market, between $2 million and $3 million, is picking up, brokers tell New York Magazine. Brokers are having flashbacks to early '08, with crowds showing up at open houses and $2.4 million listings that sell in only a week. Says broker Michele Kleier: "People are hearing about bonus money and thinking they're going to miss out." The other side of the argument: it's not bonuses, just people hoping not to miss the bottom. But we don't like to miss a chance to break out the Bonus Bouncing graphic. [NYM]