The economy expanded faster than expected in the third quarter, led by a surge in consumer spending and exports, the government reported today. But housing expenditures plunged, and economists remained wary about the outlook for the next few months
While Manhattan's numbers are strong, posting the most new building permits for the quarter since 2001, there has been a steep decline in the other boroughs.
Economist Hugh F. Kelly notes that in August, the industry, the press, the politicians, and the markets were in full cry about the "subprime debacle." His opinion was that it will affect us for a period of months, but not a period of years.
Rising delinquencies and defaults have produced a crisis of faith among international investors who once poured billions into mortgage lending. That's forced lenders like Countrywide that once depended on borrowed money to mostly limit production to loans that are eligible for purchase or guarantee by Fannie Mae and Freddie Mac.
Affluent families pay top dollar for West Village townhouses that are in short supply, and developers invest big money to convert historic homes from multi-family back to single-family dwellings.
Great post on appraisals in new developments and falling markets. which are difficult because the sales are not a matter of public record, the contracts are provided by the seller (developer).
Commercial sales in Manhattan fell 67 percent last month compared to the previous month, according to a monthly report by research firm Real Capital Analytics.
How to weather the storm. Residential brokers share their tips for staying afloat in today's climate
While broker ranks haven't significantly thinned yet, tougher market conditions could mean more brokers dropping out of the ranks in the future, making it especially important to have an edge on the competition.
The social forces that gave rise to the Castro and other gay neighborhoods like the West Village and West Hollywood may be becoming passé.
An interactive slide show of the neighborhood, observing the changes from the nostalgic old, to the contemporary West Village.
Home prices dropped again in August and consumer confidence remained at the lowest level in two years, reinforcing investors’ bleak expectations for the economy, a new report showed today. The trouble signs came as Federal Reserve policy makers began a two-day meeting that could culminate in an interest rate cut.
Curbed.com, a popular real estate blog network with sites in New York, San Francisco and Los Angeles, has obtained $1.5 million in financing to expand into new cities and add staff members.
Federal Reserve policymakers meet Wednesday to decide what action, if any, to take on interest rates. Speculation has centered on whether the Fed will keep rates steady, cut a quarter-percentage point or trim a half-percentage point. The consensus is looking for a quarter-point cut, but a few experts expect the Fed may leave rates unchanged at 4.75%.
Open House NY has a short piece on installing "city windows" to soundproof your apartment using which can provide quite a nice level of noise insulation.
Billionaire tycoons such as Jorge Perez, Mortimer Zuckerman and Samuel Zell, got rich building thousands of apartments, renting pricey office space and holding vast chunks of undeveloped land.
Hudson Yards isn’t just another development parcel. It’s a very real and potent extension of what is already the nation’s largest, wealthiest and most powerful Central Business District. Proposals for its 28 acres will all be intended to set Manhattan on course for the 21st century and save the city from global obsolescence.
Is New York’s housing market set to join the national slump? Builders don’t think so, according to a new report.from the New York Building Congress. Overall, New York City is poised to see $83 billion in spending over the next three years on office towers, apartments, arts centers and sports complexes.
In a drive to attract home buyers in today’s sluggish real-estate market, home sellers are offering real-estate agents higher incentives to show homes.