In a glimmer of good news for the U.S. home-mortgage market, more people are managing to keep up with payments on loans made in recent months.
Investors in Asia sold off stocks on worries that the United States mortgage crisis would crimp demand among American consumers for Asia’s exports.
The sculptor Tom Otterness, who's bronze figures enliven the A train stop at 14th St and in Rockefeller Park near Tribeca, gave the lower east side a great big frog on Friday. A celebration with schoolchildren and public officials welcomed the frog to the ABC playground at Houston and Essex.
David Berson, Chief Economist for Fannie Mae, in his weekly commentary discussed a possible sign that there was improvement in the jumbo mortgage market because the spread between conforming and non-conforming mortgage rates was stabilizing, if not contracting.
The rooftop cabana, a private, fenced-off space with electricity and a water hookup, is the latest way developers are cashing in on the scarcity of outdoor space in city apartments.
While the rest of the country writhes in mortgage agony, much of New York seems to be bouncing like a carefree 8-year-old on a trampoline.
U.S. Treasury Secretary Henry Paulson offered a sobering view Tuesday of the pressure the housing market was having across the country, saying the decline stood "as the most significant current risk to our economy."
The Mortgage Bankers Association predicts the housing recession will last until the end of the third quarter next year. And if confidence isn't restored in the credit markets, the wait could extend until 2009, the group's chief economist said.
The Securities and Exchange Commission has opened an informal investigation into the stock sales of the chief executive of Countrywide Financial, a person briefed on the matter said last night, the latest problem to hit the struggling mortgage lender.
Treasury Secretary Henry M. Paulson Jr. offered a pessimistic view of the country’s housing slump today as he called for help for hard-pressed homeowners and new mortgage regulations. But he urged Congress not to overreact by passing excessively harsh measures.
In five years, the area will certainly no longer be associated with grim office buildings, fast food and discount electronics outlets. And while the boundaries of Downtown Brooklyn seem to expand regularly (we're talking about a swath of Brooklyn that includes at least parts of Fort Greene, Boerum Hill, Brooklyn Heights and even DUMBO), the potential seems boundless.
A plan announced by the Treasury Secretary Henry M. Paulson Jr. on Monday tries restoring confidence and jump starting the credit markets.
The once sleepy stretch of Sixth Avenue just north of Canal Street is really starting to boom. On the block where the Moondance Diner sat before packing up and rolling off to Wyoming, developer Brack Capital Real Estate will build a 114-room boutique hotel.
Israel-based Industrial Buildings Company and the Herzlia company plan to convert a five-story building at 87 Chambers St. into a 100-room boutique hotel.
A 6,000-square-foot commercial loft building at 150 Spring Street in Soho has sold for $8.45 million, or about $1,400 per square foot, which has to be close to a record for this type of small building.
Despite a national housing slowdown and the credit crunch, Manhattan's real estate sales market continues to hold its own, and the stringent standards of co-op boards have been credited with sheltering the city from the turbulence around the country. I'm quoted in this article.
The state's plan would redevelop the area along Greenwich Street, near the entrance to the Brooklyn Battery Tunnel, between Battery Park and the World Trade Center site. The apartments would be part of a state plan to create 3 million square feet of affordable residential space.
In New York City, in the seven years since the first two Richard Meier buildings began taking shape on the West Side Highway, the glass curtain wall has become, if not a cliché, then a defining element of this decade's streetscape. Decoraters weigh in, on the new houses of glass.