Friday Links

Abbe Eng Co., Williamsburg. Photo by The Real Janelle.
Mortgage Losses Echo in Europe and on Wall Street [NY Times]
Cleaning up After the Tornado in Brooklyn [NY Times]
In a Crisis, Subway Riders Stuck in the Dark [NY Times]
Brooklyn Bridge Park Plans Await Final OK [NY Daily News]
Calatrava PATH Stn. $300 Million Over Budget [NY Sun]
Feeling the Fusion Love in Sunset Park [Curbed]
In Dumbo, Parking Lot Becomes a Plaza [Streetsblog]
182 Atlantic Avenue Bites the Dust [McBrooklyn]
Fleeced by Emergency Repairmen? [Forum]

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Comments

i am just curious if the carnage on wall street will have any effect on pricing in the nyc area?

oh yeah it is different here

cannot wait to see the idiots paying over a million or 2 bucks for a pile of bricks in brooklyn to get buyers remorse

scorn me now but it is coming soon to a brownstone near you

Posted by: mike at August 10, 2007 8:36 AM

OK housing bulls, let's get a thread going about how it's different here and housing prices will continue to rise relative to income, until (after an initial teaser rate) average housing costs reach 100 percent of average income.

Or is that health care costs that will rise to 100 percent of income, which is what the health care industry expects, at which time we will all starve?

Or student loan payments, after tuition rises indefinately?

Or taxes without services, as public employee pensions and retiree health benefits escalate indefinately?

Sounds like a lot of people have based their assumptions on getting more and more of people's money. All paid for by borrowing. That can't go on forever.

Posted by: WT Economist at August 10, 2007 8:51 AM

"...[CONTINUE] to rise relative to income...100 percent of average income."

You've lost me.

Posted by: Anonymous at August 10, 2007 9:05 AM

we'll do a post about this on monday...today's interruptions don't make it a great day for lengthy thread...

Posted by: Brownstoner at August 10, 2007 9:19 AM

At least 182 Atlantic is one building meeing the wrecking ball that nobody will miss.

Posted by: Anonymous at August 10, 2007 9:38 AM