Rents in New York, Los Angeles and Washington D.C. average $2,090 and are among the highest in the nation, running as much as 218% higher than in other major metro areas, according to Movoto.com, which tracks sales and rental prices in the 40 largest U.S. cities. “This fact is common knowledge throughout our dear land and… [Read More]
THE REALLY, REALLY STUPID MTA…… REALLY!
How stupid is the MTA? Well, just when you thought they were as stupid as stupid gets, we are reminded how much more stupid stupid can be….. As we all know by now, the MTA is building an extension to the #7 subway line from Midtown all the way over west to a new stop… [Read More]
A TRASHY TALE….
Have you ever noticed the trash in front of some buildings (a system that appears more in keeping with 19th century technology) while other buildings do not have to succumb to placing large bags of garbage in front of their buildings? “It is truly amazing that in the 21st Century, with a world full of… [Read More]
DEVELOPMENT SUFFOCATION: OUT-OF-CONTROL GOVERNMENT BENEFITS?
Why are important projects now unaffordable? This morning the New York Times reports how earlier in the 20th century, when the federal and state governments were much smaller, they had the means to undertake gigantic new projects, like the Interstate Highway System and the space program. But now, when governments are bigger, they don’t. These… [Read More]
BRACE YOURSELF: 2010 WALL STREET BONUS BONANZA COMING!
2010 Bonus pay on Wall Street is on pace to break a record high for a second consecutive year, according to a study conducted by The Wall Street Journal……so brace yourself for a real estate boost this coming Winter in New York. About three dozen of the top publicly held securities and investment-services firms—which include… [Read More]
THE MOST EXPENSIVE DOOR IN THE WORLD?
Yes, this door, a simple door located in THE CALEDONIA fronting onto The High Line Park, could very well be the most expensive door in the world….. Reliable sources have told us that negotiations between the building and the Parks department have broken down after the building was asked to pay an annual fee of… [Read More]
RACY REAL ESTATE: THE STANDARD HOTEL INSPIRES BAD BEHAVIOR?
Does real estate with a racy image expose you to potential legal hazzards? Does it inspire bad behaviour? An Australian businessman acquitted of trying to rape a maid at The Standard is suing the Meatpacking District boutique hotel for $10 million, charging that its racy atmosphere contributed to the false charges filed against Matthew Moorhouse, 42,… [Read More]
WEEKEND HOMES: NEW THINKING? NEW LOCATIONS?
The Financial Times reports that weekenders are becoming more adventurous in their quest for a second home. Where once a cottage in the countryside was de rigueur, today’s budget airlines mean that a new breed of buyer can get to the house of their dreams quickly and cheaply. “In the UK,” says Georgina Richards of… [Read More]
BANK OF AMERICA EXITS RESIDENTIAL MORTGAGE MARKET
As first reported on LUXURYBLURB a few days ago, Bank of America has exited the wholesale residential lending market, cutting off its business with mortgage brokers, the bank announced yesterday. “After receiving $ 45 BILLION in TARP funding from the US Governemnt/taxpayers, BOFA was one of the first banks to re-pay this debt,” says Leonard… [Read More]
"WE ARE CHIMPANZEES WITH NO MEMORY"- QUOTE OF THE DAY
Ken Fisher, head of Fisher investments, made what we think to be the most defining comment of our time to-day: “WE ARE CHIMPANZEE’S WITH NO MEMORY” How apt. While power-hungry, self-serving politicians, panicked individuals, self-serving commentators, ratings starved media, and generally paranoid humans exploit this moment in the current cycle, constantly over-analyzing the current conditions,… [Read More]