Posted by Leonard Steinberg on March 4th, 2012 The devastating storms that ripped through the USA this past week beg to ask the question: why don’t we build structures in high risk areas in a manner that withstand storms better? Surely the cost of re-building wood stick houses that we know cannot withstand high winds… [Read More]
BLOSSOM VEGAN BAKERY COMING TO WEST CHELSEA
Posted by Leonard Steinberg on March 3rd, 2012 West Chelsea’s favourite Vegan restaurant is now opening a VEGAN BAKERY on 9th Avenue close to 20th Street. And about time too. There is enough evidence that highly processed sugars are simply bad for you…..offering a healthy-ish alternative to satisfy the cravings is a GREAT idea. I… [Read More]
GOOGLE IT! WEST CHELSEA GETS GOOGLED.
Posted by Leonard Steinberg on February 29th, 2012 Google it! A new Starbucks on the street corner used to be the most important signal of a gentrifying neighborhood. Well, Starbucks has been in West Chelsea for quite a while and there are several. So what could be the most important next signal of an even… [Read More]
THE MULTI-BILLION DOLLAR ARCHITECTURE OF DIVIDE
Posted by Leonard Steinberg on February 28th, 2012 While China re-invents the concept of capitalism, a new version of capitalism where much is not negotiated or discussed as in the West, but rather implemented by a controlling force with little debate, the USA has created a multi-billion dollar architecture of divide to keep the country… [Read More]
75% TAXES? WILL FRANCE ALIENATE THE RICH?
Posted by Leonard Steinberg on February 28th, 2012 The rich are under seige! Across the globe, countries are turning to the rich to resolve their budget crises. Now, the Socialist favourite in France’s presidential election, Francois Hollande, has said top earners should pay 75% of their income in tax: “above 1m euros [£847,000; $1.3m], the… [Read More]
LOCATION MATTERS, EVEN IN POLITICS!
Posted by Leonard Steinberg on February 24th, 2012 Location, location, location, the first three most important rules for the best real estate and yes, this rule even applies in politics! Mitt Romney learned this painful lesson yesterday while delivering a speech in Detroit to a group of 1,000….in Ford Field, an arena that can hold 65,000 people…. [Read More]
DOES GOOD WEATHER FUEL OPTIMISM IN REAL ESTATE MARKETS?
Posted by Leonard Steinberg on February 22nd, 2012 Is unseasonable good weather fueling this strong market? Home resales rose to a 1-1/2-year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector. The NAR said today existing home… [Read More]
ADDICTED TO OIL: BACK TO RE-HAB!
Posted by Leonard Steinberg on February 21st, 2012 Yes, the $ 173 billion Greek bailout has been approved, and while this is important, what is the one indicator we need to watch most for the health of the economy and the real estate market? The oil price. And the oil price is soaring again even… [Read More]
BRIC-A BUYERS NOW?
Posted by Leonard Steinberg on February 20, 2012 The BRIC BUYERS, those luxury New York real estate buyers who originate from emerging economies Brazil, Russia, India and China, are being joined by a new group: African buyers. The economy of Africa (second only to Asia in size and population) continues growing at a strong pace:… [Read More]
THE TAXMAN EARNS MORE THAN BROKERS IN A REAL ESTATE TRANSACTION
Posted by Leonard Steinberg on February 19th, 2012 Many un-informed people are sometimes outraged by the commissions brokers earn for a real estate transaction in New York: its usually 6% and sometimes 5% for more expensive listing. This commission is split between buyer and seller brokers 50-50, so the average transaction leaves the broker between… [Read More]