Thursday Links

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"Free Umbrellas Hit the Slope "

Posted by: guest at November 8, 2007 8:26 AM

Homeowners’ Reduced Equity May Slow Spending

http://www.nytimes.com/2007/11/08/business/08borrow.html?_r=1&ref=business&oref=slogin

Well... I asked someone to show me any good news on housing. Here is the whole economy, Consumer spending. Debt, Debt and more Debt.

This shit is looking real bad now. The Mutant Real Estate Bubble is dying.

The What

Someday this war is gonna end.....

Posted by: guest at November 8, 2007 8:36 AM

The What - what do you think of the 'Downtown Brooklyn Transforms' article? Are you a believer?

Posted by: guest at November 8, 2007 8:41 AM

"4.5 million square feet of office space is planned over the next several years, which will completely transform downtown Brooklyn's landscape."

This one statement that scares me. I hope they find tenants!

I'm a big fan of progress but, at what cost. The downtown development is great but, I don't think we need all of this 'office space'.

Remember in the 90's half of wall street was empty. Thy turned some of the office space into residential. Even WBAI radio got some space REAL cheap.

We have overbuilt and over developed over the last 7 years and I'm afraid these unit will be empty for years to come.

We are at the beginning of a severe downturn. I hope we have plan B.

The What

Someday this war is gonna end

Posted by: guest at November 8, 2007 9:14 AM

The What,

Perhaps you should have read two sentences further:

In the newly issued report by the Downtown Brooklyn Development Partnership, the plans included about 1.9 million square feet of office space, while the original plans envisioned 4.5 million square feet.

Posted by: guest at November 8, 2007 9:32 AM

Excellent photograph across the Gowanus...

Posted by: guest at November 8, 2007 9:56 AM

I've been in the Heights for about 6 months after 3 years in Carroll Gardens West and 5 years in Jersey City. I never would have thought it, but I've felt significantly more unsafe in the Heights than either of those neighborhoods, and JC was pretty rough when I first moved there. The element is attracted to the money, the promenade, and the quiet, dark streets. I see real sketchy characters roaming solo just after dark with no purpose and the packs of kids esp. near the promenade. We certainly need more of a police presence, even if its just cops walking the beat.

Posted by: guest at November 8, 2007 10:52 AM

"...the plans included about 1.9 million square feet of office space, while the original plans envisioned 4.5 million square feet."

Good catch. That reinforces his point. Outlook is downwards.

Posted by: guest at November 8, 2007 12:30 PM