This morning’s Wall Street Journal reports that one year removed from the trough of the recession, American corporations continue to hoard more cash than ever. There are now tentative signs that they are finally comfortable using the money to do some shopping. The 382 nonfinancial firms in the Standard & Poor’s 500 that have… [Read More]
LUXURYLETTER MARCH 2010: WHAT'S THE MARKET UP TO?
In this month’s LUXURYLETTER ( see www.luxuryletter.com) the reports indicate a moderately healthy market, with strong activity on the higher end of the Manhattan Downtown luxury market. Signed contract and closing activity levels are healthy, and pricing for the most part is stable, although drops have been seen in some areas: this does not necessarily… [Read More]
BUFFET TALKS REAL ESTATE
Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply. “Within a year or so, residential housing problems should largely be behind us,” Buffett wrote Feb. 27 in his annual letter to shareholders of… [Read More]
ENCOURAGING SIGNS? IS LUXURY MANHATTAN REAL ESTATE ‘HOUSING’?
Today, reports came out on home groundbreaking. (Am I the only one annoyed at how figures are constantly ‘revised’?) So December’s figures were slightly inaccurate….why? And why the month-by-month-drama-queen reporting? I am a firm believer in watching pricing on a month by month basis, but it ceases to amaze me how many people formulate world-shattering conclusions from… [Read More]