With stock markets in freefall, U.S. Treasury Secretary Henry Paulson announced on Tuesday that the government's effort to unlock credit markets would include direct investments of $250 billion in bank equities. He also warned bankers not to hoard the money, but to use it to make the loans that lubricate the nation's economy. Similar moves announced by European governments over the weekend, along with anticipation that the U.S. would follow suit, sent global stock markets rocketing upward on Monday. But the moves signal significant changes in the financial landscape, moving leverage and power from Wall Street to Washington. In separate interviews, Wharton finance professors Richard Marston and Jeremy Siegel tell Knowledge@Wharton that while the investment is not without risk, it appears to be the best hope for restoring confidence in credit and stock markets and reducing the severity of a recession that is all but certain to come.
October 9, 2008
Who wouldn't covet this brand new apartment with outdoor space that's bigger on it's own, than a large one bedroom apartment! This is a one of a kind two bedroom at the new Chelsea Stratus. Its got an absolutely stunning, private, 844 square foot terrace— A brand new 1272 square foot, two bedroom, two bath apartment, with extra tall ceilings, floor to ceiling glass windows— feels like a downtown penthouse loft, but with all the amenities of a white glove concierge building; you'll have access to the resident's health club, and there is private storage included in a deal. You will be the first person to ever live here, at this newly developed (2008), full service building.
October 6, 2008
The third quarter Corcoran Report on the Manhattan Real Estate Market shows that the overall median price of Manhattan apartments are up 10% since a year ago as Manhattan real estate continued to out perform the national housing and capital markets. Yet, the report also tells us about rising inventory and slowing property sales, giving us important information to adjust buying and selling strategies to meet what clearly seems to be a changing economic landscape. Download your copy of the third quarter 2008 Corcoran Report here, and read on for my take on how to best use this data.
October 2, 2008
This week real estate Attorney Keith Schuman talks about the core team that you'll need to accomplish your purchase of a Manhattan condo, co-op or townhouse.