Wharton finance professor Jeremy Siegel says in this interview that the subprime crisis was both predictable, and grossly underestimated at first, in its impact on the economy. He also says that bubbles are something which cannot be easily avoided from time to time in a free market economy; and that we are nowhere in the kind of free fall which produced the Great Depression. With commentary from Peter Comitini on the Manhattan marketplace and why it has remained largely insulated so far.
June 27, 2008
How risky mortgages and exotic securities, brought us to brink of recession, while no one looked too closely
The drive to securitize mortgages combined with deregulation were key triggers of the credit crisis, says Wharton finance professor Susan Wachter. he explains how complex securities products with a lack of standardization, and where the profits were based on fees rather than trading on the inherent risk in the products themselves, has put the health of the economy at risk.
June 25, 2008
There is a rich inventory of available homes, relatively low mortgage rates, and a return to a more balanced market between buyers and sellers. A little bit of horse trading is possible again this may be the best time in years to think about buying. Is it a resale or a new development? The type of home and it's location are highly personal choices which an astute broker can help you navigate and negotiate. Once you've found that Manhattan home you love, and have an accepted offer, you will need a Real Estate Attorney to handle one of the most complex transactions possible. This is the first in a series of posts which will be of particular interest to home buyers. It’s a guide to purchasing a home in New York written by Real Estate Attorney Keith Schuman, to provide an overview of what you will need to know to finance and purchase a coop, condo, loft or townhouse.
June 23, 2008
In our second installment of "Inside the Credit Crisis" from the Wharton School, professor Todd Sinai talks about changing consumer attitudes. he says "Don't think of your house as an investment comparable to savings or a stock portfolio".
June 20, 2008
We'll be featuring selections from a special report "Inside the Credit Crisis: How Wall Street alchemists, ambitious lenders, overreaching consumers, and enabling lawmakers pushed the economy to brink of recession and how to avoid a repeat"; produced by our friends at the Wharton School and writer Jeff Brown. This is the introduction and overview.
June 11, 2008
Brokers may eventually describe the city's buildings as "pre-green" or "post-green". Rising awareness of factors such as global warming, rising fuel costs, and conservation, are reshaping the marketplace. In New York City we are seeing development of the first wave of LEED certified apartment houses.