Posted by Leonard Steinberg on September 21st, 2012 Interest rates are at record lows, so financing a property today is more affordable than ever. Here are some disturbing facts to absorb: 1) Is everyone who has a mortgage and takes the tax deduction part of Mitt Romney’s 47%?…..the mortage deduction is a government subsidized handout….basically. I… [Read More]
OUR CRAZY WORLD: WILL REAL ESTATE RESCUE GREECE IF THE EU WON’T?
Posted by Leonard Steinberg on August 24th, 2012 Now that I am on vacation in the hot-hot South of France, I have had more time to absorb the world’s craziness and get a better global perspective. While watching the BBC this morning, I caught up on world events and wanted to compare the following to… [Read More]
NEW YORK MONTHLY COSTS AS DISCRIMINATORY AS MITT ROMNEYS TAXES?
Posted by Leonard Steinberg on August 16th, 2012 In a country where most who earn $ 1 million pay over 30% in federal taxes, yet a few of the ‘chosen few’ like Mitt Romeny pay closer to half that (huh?), and where Obama thinks New Yorkers who earn $ 250k per year are rich, it is… [Read More]
MEDIA INACCURACIES – IS IT GETTING WORSE?
Posted by Leonard Steinberg on April 8th, 2012 Is the media in its attempts to remain profitable in a digital world diminishing in accuracy? NBC highlighted this phenomenon this week with the Trayvon Martin shooting. With fewer staff and less time to report accurately and check facts, and with so much information out there, I… [Read More]
THE TAXMAN EARNS MORE THAN BROKERS IN A REAL ESTATE TRANSACTION
Posted by Leonard Steinberg on February 19th, 2012 Many un-informed people are sometimes outraged by the commissions brokers earn for a real estate transaction in New York: its usually 6% and sometimes 5% for more expensive listing. This commission is split between buyer and seller brokers 50-50, so the average transaction leaves the broker between… [Read More]
OCCUPY WASHINGTON DC? THE PEOPLE ARE ANGRY!
Posted by Leonard Steinberg on November 19th, 2011 As our beloved government teeters on the edge of another major meltdown with the ‘super-committee’ due to formulate a solution to our budget crisis by the middle of next week (something that could cause radical ramifications throughout the markets, especially the credit markets…. think housing), maybe its… [Read More]
GINGRICH FOR PRESIDENT: REPENT FOR YOUR ROLE IN THE US HOUSING BUST!
Posted by Leonard Steinberg on November 19, 2011 Republican presidential candidate Newt Gingrich, certainly one of the most eloquent, informed and intelligent of all the Republican candidates, is now embroiled in a rather major embarrassment: After consistently and repeatedly blaming Freddie Mac and Fannie Mae for the Housing Bust that still wreaks havoc on our economy,… [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]
THE FUTURE OF FANNIE MAE AND FREDDIE MAC?
While politicians bury their heads in the sand and focus on pointing fingers for blame, building mosques and Bristol Palin, the single largest problem our economy is dealing with is still housing. Until we have a solid plan in place to clean up the housing mess and a solidly revised plan for the future of financing housing, the… [Read More]
THE JUMBO IS BA-ACK!
In this morning’s Wall Street Journal, it is reported that New York and the rest of the country, is experiencing the return of the JUMBO MORTGAGE…..Not long ago, many big banks were turning away New Yorkers seeking jumbo mortgages. This summer, however, banks are competing for the business, creating a wealth of new products and… [Read More]