(Editorial) The White House has threatened to veto a foreclosure prevention bill if it contains a $4 billion block grant program for states to buy up foreclosed properties. Mr. Bush has not objected when the big firms and rich executives of Wall Street have been on the receiving end of federal assistance, but now he is threatening to block a measure to aid hard-hit neighborhoods filled with ordinary Americans.
A new development battle is under way that centers on whether the city's Landmarks Preservation Commission is willing to expand the boundaries of the Upper East Side historic district to include almost 200 more buildings, a number of which could be demolished any day now to make way for new construction.
Mortgage rates are rising because of the troubles at the loan finance giants Fannie Mae and Freddie Mac, threatening to deal another blow to the faltering housing market.
After falling almost continuously over the past month, Freddie Mac tumbled another 18 percent and Fannie Mae lost 16 percent amid concerns that the companies would need to raise billions of dollars in fresh capital.
With no end in sight to the turbulence in the housing and financial markets, the chairman of the Federal Reserve, Ben S. Bernanke said the Fed would issue new lending rules next week to restrict exotic mortgages and high-cost loans for people with weak credit; , and may extend its temporary financial lifeline to major Wall Street firms.
State lawmakers have approved a bill to give tax breaks to homeowners who install 'green roofs' - gardens atop buildings. The credit of $4.50 per square foot, is about a quarter of the cost of a typical green roof.
Developers are eying two blocks in Chinatown now that the city council has approved the re-zoning of the area between Walker and White streets, Broadway and Lafayette Street.
[pdf] Web data aggregation site StreetEasy got into the "me too" residential property sales report game this quarter, by releasing one of its own. The report largely mirrored the trends just released by the large real estate brokerages. StreetEasy forum users both welcomed the report, and sometimes questioned the accuracy of the StreetEasy data.
Real estate professionals say buyers are in the driver's seat. Residential sales in Manhattan slid in the second quarter, according to market reports, falling back from last year's lofty peaks.
It's hard to believe New York City is in a slump when Manhattan real estate prices continue to climb, reaching record-breaking numbers. But the drop in the volume of sales makes the whole picture look grimmer.
We got our hands on Corcoran's Q2 sales data, and it shows that the state of the Brooklyn market isn't quite as precarious as the Times made it out to be.
Will the credit crunch and the mortgage crisis finally infiltrate Manhattan real estate? Will Wall Street layoffs slow the now years-strong market surge? No, yes and maybe.
Manhattan apartment sales fell in January and February from a year earlier and new properties came to the market at the fastest pace since at least 2000, according to data from New York-based real estate appraiser Miller Samuel Inc. Transactions slid 6.4 percent to 3,250, while the number of condominiums, co- operatives and townhouses for sale at the end of last month climbed to 6,225, 15 percent more than at the start of the year.
The second-quarter Manhattan housing market reports will are out Last time they hit, for the first quarter, the reports caused quite the kerfuffle, including internal company e-mails and a New York Times article trying to sort the whole thing out.
Data from this year's second quarter indicate two divergent trends; on a year-over-year basis, the volume of sales is down, while at the same time the average home price is rising.
Even with thousands of layoffs at the city's securities firms, prices on apartments and townhouses have hardly budged.
Despite slowing sales and continuing economic worries, market studies just released showed that the Manhattan co-op and condominium market remained strong in the peak spring selling season, with prices up 25 percent or more compared with a year ago, and overall prices roughly flat or just below record levels.
Most of New York City’s largest construction projects ground to a halt or near-halt, because of an unanticipated strike by more than 400 cement-truck drivers.
Here’s a question rarely asked, at least in Washington: Why should ever-increasing homeownership be a policy goal? How many people should own homes, anyway?
The U.S. home-price declines most associated with lower-priced properties may accelerate among more expensive houses, according to analysts at JPMorgan Chase & Co.
U.S. home sales increased in May, according to a report from the National Association of Realtors, which indicated that more buyers are responding to lower home prices. The NAR reported that existing home sales increased 2 percent last month to 4.99 million units, but remained 15.9 percent below the 5.93 million units sold during the same time last year.
A highly anticipated progress report on construction at ground zero is expected to focus on a scaled-back redesign of the PATH transit hub, demolition of the Deutsche Bank building at 130 Liberty St., and difficulties involving work on the no. 1 subway line. The report will not include a detailed construction schedule with time lines for the reconstruction of the World Trade Center site.