In this morning’s Wall Street Journal the subject of Spain’s 1,5million vacant apartments in ZOMBIE BUILDINGS is addressed: do we have ZOMBIE BUILDINGS in Manhattan? Two that come to mind are 1 Madison Park and 245 Tenth Avenue, both really wonderful buildings caught in the financial storm of 2008/2009. “The difference between these two buildings… [Read More]
BIG CITY FEDERAL TAX CREDIT ESSENTIAL!
The Obama administration is about to define ALL single persons earning $ 200,000.00 or more or ALL couples earning $ 250,000.00 or more rich: It is time we stand up to this sheer stupidity. Yes, these incomes would definitely qualify you as rich in Oklahoma City or a small town in Vermont, but it is… [Read More]
BIRTH RATE DIPS, GDP DIPS, DOW DIPS, CONFIDENCE DIPS…
The USA may indeed be following another European trend: The birth rate has dipped due to the recession according to a report on Yahoo news. This is an alarming trend: While reducing population that may require welfare, it is usually the more educated , wealthier citizens who cut back on family size thus reducing the… [Read More]
HOUSE SWAP, ECONOMY-BOOSTER STYLE?
The economy is experiencing a unique problem: unemployed people who are able to find good jobs in alternative cities are unable to take the jobs as they cannot sell their homes as many mortgages are worth more than the homes in this current market. Why not introduce a NATIONAL HOUSE-TRADE BANK/DATA BASE, whereby someone could… [Read More]
WE SAY TO BALDUCCI’S: GO WEST!
In CRAIN’s it is reported that Balducci’s is seeking to return to Manhattan, searching for a 10,000sf flagship store as well as some smaller outposts. We say: HEAD WEST! The area in far West Chelsea around the Highline Park desperately needs a Balducci’s. “We think the perfect location would be at the corner of 23rd… [Read More]
HOME SIZE DEFLATION?
According to a report on CNNMoney, the American home is shrinking. Toll the bell for the McMansion. After years of growth, the Census Bureau recently reported that median new home size fell to 2,135 square feet in 2009 after peaking at more than 2,300 earlier in the decade. That is a significant drop….almost 7%! “As… [Read More]
MARKET HEADING DOWN? YES AND NO.
In this morning’s Wall Street Journal Josh Barbanell reports that despite rising gloom about home sales across the country, sales of apartments in Manhattan appear to have strengthened this summer, with median prices up, inventory down and an increase in the number of apartment closings. The figures suggest that the Manhattan market, buoyed by a… [Read More]
MORTGAGE APPLICATIONS RISE TO HIGHEST LEVEL IN 15 MONTHS
After yesterday’s expected news about sharply reduced activity in the re-sale of existing homes (the aftermath of the end to the buyers tax credit), it was announced that mortgage applications rose last week as record low rates lifted demand for home refinancing loans to its highest level in over 15 months, a development that could… [Read More]
IMAGINE ALL NEW YORK WITH THESE AWNINGS….AND…..
Imagine these awnings (or a version thereof) attached to all sunny sides of buildings in Manhattan where the awnings not only provide cover from the sun and rain, but also produce power…..what about small solar panels or wind turbines that you plug in just like a small appliance?…..that’s the promise of a Seattle, Washington-based start-up… [Read More]
JOBLESS CLAIMS RISE – SURPRISING?
The unemployment rate for college graduates hovers around 4%, yet it is more than double for those with limited education. AP reports to-day about the jobless claims rise, yet to-day again on the cover of the New York Times, an article is written about the amazing new technology to invite attendees to FASHION WEEK in… [Read More]