This Old House
This Old House
For almost five years now, the housing crisis has been a drag on the U.S. economy, the U.S. psyche, the U.S. spirit. It turns out it is also dragging down Americans’ health.
An Arena Grows in Brooklyn
Good news! Foreclosures are at their lowest levels in four years!
Wait, no, that’s horrible news. There are so many delinquent homes out there, the banks don’t want to repossess them, and even when they want to, the bottleneck caused by the robo-signing scandal is still holding up the whole party. The Obama administration has a simple solution: Just rent it.
Back when Frank Gehry got bounced off Bruce Ratner’s Atlantic Yards project, the new designs for the Nets’ arena, created by Ellerbe Beckett, were said to be so loathed by certain city officials that the developer had to find another firm to dress things up. Ratner chose local hotshots SHoP, which had made its Read More
This Old House
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
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
Affordable Housing or Lack Thereof
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
Living in a Cave
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
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