Posted by Leonard Steinberg on December 4th, 2011 We have read the headlines about how rents keep rising, in some areas rather dramatically, and now word that Sam Zell’s Equity is about to buy a 26,5% stake in Archstone, both two of the US’s largest owners of some 200,000 rental apartments. So why would Equity… [Read More]
DOES THE CONNECTICUT POWERBALL LOTTERY WIN DEFINE CAPITALISM?
Posted by Leonard Steinberg on November 29th, 2011 The winners of the $ 254 million record-breaking POWERBALL lottery identified themselves in Connecticut: the three money managers won a combined $ 108 million after taxes (that’s a lot of taxes!). They bought just one ticket, with numbers selected by the computer. Well, not exactly….it appears these… [Read More]
BLACK FRIDAY SHOPPING MAYHEM: A GOOD THING?……OR IS IT A SIGN OF INFLATION?
Posted by Leonard Steinberg on November 28th, 2011 Retail insanity was the order of the day starting mere seconds after the turkey and stuffing had been digested. Reports of fist fights, pepper spraying, gun-shots, etc highlighted American’s intense desire for a bargain. Retail sales were up over 8% over last year, setting new records. These are my… [Read More]
NBA LOCKOUT ENDS: WHY DOES NO-ONE MENTION THE NBA WHEN TALKING ABOUT ‘THE 1%’?
Posted by Leonard Steinberg on November 26th, 2011 So the NBA lockout seems to be coming to an end as a tentative deal was struck…..does it not amaze you that no-one finds any offence in basketball players earning MILLIONS of dollars each year for playing with a ball, when it appears OK to trash everyone in… [Read More]
WOMEN’S WEALTH TO GROW SIGNIFICANTLY OVER THE NEXT 20 YEARS
Posted on November 23rd, 2011 by Leonard Steinberg. In to-day’s Wall Street Journal it is reported that over the next 20 years, some $25 trillion will be passed to women through divorce, death of spouse or inheritance. Women already make up just under half of the nation’s millionaires. Combined with their growing earning and wealth-creation power,… [Read More]
WALL STREET UN-OCCUPIED: IS 2011 THE YEAR OF EXTREMISM?
Posted by Leonard Steinberg on November 22nd, 2011 The news is out: Wall Street is shrinking with more than 200,000 jobs lost in the global financial-services industry this year, eclipsing 174,000 in 2009, according to a report by Max Abelson of Bloomberg. (That’s a lot of potential real estate buyers and renters). Wall Street rebounded from… [Read More]
IT'S ALL ABOUT THE "0,1%"!
Posted by Leonard Steinberg on November 21st, 2011 Who are the 1% anyway and are they really the cause of the huge wealth disparity in the USA? No, of course not: this is just being used as simplistic means to an end for political purposes. Many people who earn $ 250k/year are significantly wealthier than… [Read More]
OCCUPY WASHINGTON DC? THE PEOPLE ARE ANGRY!
Posted by Leonard Steinberg on November 19th, 2011 As our beloved government teeters on the edge of another major meltdown with the ‘super-committee’ due to formulate a solution to our budget crisis by the middle of next week (something that could cause radical ramifications throughout the markets, especially the credit markets…. think housing), maybe its… [Read More]
ONE 57: THE LATEST ADDITION TO THE UBER-LUXURY MANHATTAN MARKET
Posted by Leonard Steinberg on November 19th, 2011 The other night I was invited to the launch of EXTELL’s newest addition to the New York skyline, One 57, the Christian de Portzamparc-designed 90 story, 1,000ft tall Tower located at 157 West 57th Street between 7th and 8th Avenues. Towering above the Time Warner Center, Trump’s One Central… [Read More]
GINGRICH FOR PRESIDENT: REPENT FOR YOUR ROLE IN THE US HOUSING BUST!
Posted by Leonard Steinberg on November 19, 2011 Republican presidential candidate Newt Gingrich, certainly one of the most eloquent, informed and intelligent of all the Republican candidates, is now embroiled in a rather major embarrassment: After consistently and repeatedly blaming Freddie Mac and Fannie Mae for the Housing Bust that still wreaks havoc on our economy,… [Read More]