Posted by Leonard Steinberg on April 14th, 2012 After we reported for several months on the extremely busy New York real estate market, this morning the New York Times featured this story…..on the front cover! You know it serious if its on the front cover…. They talked about the lines of people outside 422 West 20th… [Read More]
CATCH-UP!
Posted by Leonard Steinberg on March 26th, 2012 This morning Ben Bernanke spoke on the subject of the economy: his conclusion was that the improving employment and growth figures were a product of CATCH-UP. We can see the same thing clearly happening in the luxury Manhattan real estate market. The above picture shows a line… [Read More]
UNDERSTANDING THE ONE PERCENT – YES, AVERAGES ARE MISLEADING HERE TOO.
Posted by Leonard Steinberg on January 15th, 2012 To-day’s New York Times examines ‘the one percent’ a bit closer than it has in the past. Just like the Times is guilty of espousing averages when it comes to real estate statistics (All media is guilty of that!) it has been guilty in the past of… [Read More]
THE NEW YORK TIMES MISSES THE STORY ON REAL ESTATE TAXES (AGAIN!)
Posted by Leonard Steinberg on November 13th, 2011 In today’s real estate section of the New York Times, the cover article addresses the subject of expiring tax abatements that result in monthly taxes on new buildings that are super-high. In my opinion, this article does not get the story right and misses some very important points: Real estate… [Read More]
MORE BANKER FOLLY…..OR THE SIGNS OF HOPE?
Posted by Leonard Steinberg on July 4th, 2011 Bank of America Corp and JPMorgan Chase & Co have started modifying tens of thousands of mortgages where the banks deem the loans especially risky, even if the borrowers have not asked, the New York Times reported yesterday. In some cases, the banks are slashing the amount… [Read More]
THE ERA OF TRIMMING FAT
Posted by Leonard Steinberg on April 22, 2011 I have noticed all around us a distinct trend: fat is being trimmed in the biggest way in all arenas of our lives, including real estate. Here are my observations: 1) The New York Times reported yesterday how the desire for less bloated homes across the country… [Read More]
AMERICAN IDOL REPORTING
Posted by Leonard Steinberg on April 9, 2011 This week, Amercan Idol fans were shocked when one of the shows biggest talents, Pia, was voted off the show…..it was another reminder of the dangers of mass tastes dictating. Without Simon Cowell, the judges superficial, uneducated, Jenny-from-the-block evaluation failed us all. I feel the same way about real… [Read More]
DEAR UNCLE SAM…..
Warren Buffet’s thank you note in the op-ed piece of this morning’s New York Times, prompted us to write our own letter. While not a thank you note, it does infer gratitude of sorts: Dear Uncle Sam: We second most of the points made by Mr. Buffet, but would like to add a few of… [Read More]
REAL ESTATE BROKERAGE IS CHANGED FOREVER.
In this weekend’s New York Times, an interview with Frederick Peters, the head of Warburg Partnership, illustrates clearly how the world of real estate brokerage has changed forever. “I remember a time many years ago when I started doing e-mail blasts to the brokerage community, announcing new properties I was listing,” says Leonard Steinberg, managing… [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]