Posted by Leonard Steinberg on January 4th, 2013 While we tend to complain about the quality of air in New York, many things are being done that are truly effective in reducing harmful emissions. Aside from the electric hybrid busses, converting building boilers away from that black smoke belching oil, hybrid government vehicles, etc some… [Read More]
NEW YORK MAGNOLIA-BAKERY-STYLE OPEN HOUSE MASSES
Posted by Leonard Steinberg on January 28th, 2013 Have you ever seen the droves of people lined up to buy one of those horrifically sugary cupcakes at Magnolia Bakery? Well, a similar phenomena is happening in Manhattan at open houses where the volume of buyers is truly remarkable at all price points. Over 70 buyers… [Read More]
CAN GOVERNMENT LEARN FROM THE US CONSUMER ABOUT DEBT REDUCTION?
Posted by Leonard Steinberg on January 26th, 2013 The question keeps getting asked: why is the New York real estate market so incredibly strong this month (and the past few months too)? Yes, mortgage rates are very low, the wealthy are doing well and have more confidence, the election circus is behind us, the optimism… [Read More]
AFFORDABLE MICRO-APARTMENTS BECOMING REALITY?
Posted by Leonard Steinberg on January 22nd, 2013 As New York real estate becomes less and less affordable for most, the City is announcing today the winner of its “micro-apartment” contest, which challenged architects to create affordable homes for single New Yorkers — some as small as 250 square feet. The Museum of the City of… [Read More]
IS LUXOFLATION SET TO SURGE IN 2013?
Posted by Leonard Steinberg on January 3rd, 2013 Bloomberg reported that the worlds billionaire’s net worth surged in 2012, some by as much as twenty percent. Does this imply a sharp escalation in LUXOFLATION, our measure of the pricing inflation we have identified in the super luxury markets? I think it’s very likely. Already we… [Read More]
HAPPY, HEALTHY 2013 WITH SOME REAL ESTATE LESSONS FROM CAPE TOWN
Posted by Leonard Steinberg in January 1st, 2013 I am blogging from sunny Cape Town, South Africa……my place of birth and still possibly the most beautiful place anywhere…….and while far removed from the concrete jungle of Manhattan, I have learned many lessons, or have been reminded of some from the past……so here goes: 1) Beauty… [Read More]
SIGNS OF FISCAL CLIFF RICH-TAX SANITY?
Posted by Leonard Steinberg on December 17th, 2012 The Republicans have agreed to raising the tax rates on the rich at last…..the real rich: those earning $ 1million and more per year. At last the definition of wealthy has shifted from a stupid version to a more realistic one. Which idiotic politician truly believed that… [Read More]
ANGER-DRIVEN NEGOTIATIONS
Posted by Leonard Steinberg on November 13th, 2012 As the negotiations between Republicans and Democrats to avert the FISCAL CLIFF heat up, one commentator pointed out that in our beloved system, usually both sides have to walk away from the negotiated deal angry for a deal to be done. In New York real estate, I… [Read More]
IS WALMART THE NEXT MORTGAGE BANK?
Posted by Leonard Steinberg on December 3rd, 2012 A recent survey shows that one in three US consumers would consider a mortgage by retail giant WALMART. The study shows consumers are willing to try alternative lenders as borrowers focus on price, customer service and trust in their provider when selecting a mortgage, said Doug Hautop, lending… [Read More]
ITS ALL ABOUT THE POWER
Posted by Leonard Steinberg on December 1st, 2012 So the one half of the $ 588 million (that’s over 11,500 $ 50k/year jobs) POWERBALL winners were identified, making a couple from Michigan instantly super-wealthy and very powerful……I did not hear anybody complaining about the fact that these new-super-rich folks earned their money (overnight and through… [Read More]