One of the great creations of the real estate boom was “FiDi.” As many old office buildings grew obsolete, instead of tearing down the historic warren of grand towers surrounding Wall Street, developers, with the city’s encouragement, began converting them into apartments. The Financial District became, well, the Residential District.
Yet, just as traders Read More
This Old House
Christmas and New Years are over, and with them went the foreclosure holiday. Banks are back at it, and as the robosigning confusion continues to unwind, they are bound to ramp repossessions up again.
Despite months of moratoriums and the drop in foreclosures that came with them, 2010 still saw more foreclosures Read More
We sure do miss those homebuyer tax credits.
According to a report out from Zillow today, homes are on track to lose $1.7 trillion in value this year, 63 percent more than the $1 trillion in value they sacrificed in 2009. Much of that fall has come in the latter half of the Read More
Israel is the fastest growing real estate market in the world right now. Foreign investors — including many a New Yorker — are snapping up property in the often troubled paradise. But that might be a mistake.
Global Property Guide ranked Israel the hottest housing market for the last two years. In the Read More
Affordable Housing or Lack Thereof
What if there were an easy way to figure out all the empty buildings and lots in the city and put them to a better use, like housing the homeless or pushing down the city’s exhorbitant real estate prices? Advocates, led by Picture the Homeless, think there is, in the form of Read More
Living in a Cave
Yesterday, the Bloomberg administration announced that a special sting operation–involving Craigslist and hidden cameras–had turned up a slew of illegal apartments in the city. The hope is this new investigative tool might keep landlords from being so damned shady.
But, just in case, the Department of Buildings released a set of 10 Read More
In a series of forecasts that vary to an astounding degree, the Congressional Budget Office estimates that Fannie Mae and Freddie Mac could cost the government $53 billion over the next decade — or, the two mortgage entities could produce savings of as much as $44 billion.
Tasked by Congressman Barney Frank with Read More
Shelter from the Storm
The Citizens Housing and Planning Council of New York today sent out its latest update of New York City metro area housing numbers, compared with other major metro areas, and, per a chart, it looks like New York is continuing to outpace housing sector growth in much of the country.
A whole chronology can be Read More
The number of Brooklyn home sales dropped 42.7 percent annually in the fourth quarter of 2008, according to a new report from Prudential Douglas Elliman and appraisal firm Miller Samuel (and authored by ace Jonathan Miller). At the same time, the median home sales price dropped 7.5 percent to $490,000.
As the graphic indicates, Brooklyn’s Read More
There have been since Sept. 18 over 200 price cuts on properties listed at less than $10 million on the Upper West Side and the Upper East Side, reports the Wall Street Journal‘s Sara Lin. That’s a 17 percent jump from the week before.
Plus, there’s this:
Deanna Kory, Read More