Tuesday Links
Green-Wood Cemetery. Photo by zsenya. Average Brooklynite Earns $742/Week; Average Manhattanite, $2,821 [NY Post] Ousted Arabic School Principal Files Federal Lawsuit [NY Post] Sunset Park Landlord Tries to Force Out Renters [NY Daily News] Marty Keeps Off Extra Pounds After Coronary [NY Daily News] Poll: Support For Congestion Pricing Falling [NY Sun] State Sen. Kruger…
Green-Wood Cemetery. Photo by zsenya.
Average Brooklynite Earns $742/Week; Average Manhattanite, $2,821 [NY Post]
Ousted Arabic School Principal Files Federal Lawsuit [NY Post]
Sunset Park Landlord Tries to Force Out Renters [NY Daily News]
Marty Keeps Off Extra Pounds After Coronary [NY Daily News]
Poll: Support For Congestion Pricing Falling [NY Sun]
State Sen. Kruger Opposes Coney Plan [Brooklyn Eagle]
Breathing Easier in 2030 and Beyond [Gotham Gazette]
Quality and value are proportional to owner-occupancy, 2:34. So internal downard price pressures will combine with those of the market at large. The rental bubble will also deflate as more and more of these failed projects are converted to the rental inventory.
So what happens when some of these new condos (such as one discussed the other day) are 40% sold and the sponsor puts the other 100 units on the rental market. It won’t be just one building either. The new construction (Oro, Forte, Smith) haven’t even strated closings.
“People this thing is getting real nasty.”
you better go have a doctor take a look then…
Credit Market Collapse Claims Victims as Lawyers Exit
http://www.bloomberg.com/apps/news?pid=20601109&sid=aRr7SXEHGIbk&refer=home
“Clifford Chance, the world’s highest-grossing law firm, dismissed six senior associates who worked on mortgage-backed securities in its structured finance practice on Nov. 5. At least two other firms asked associates, or salaried lawyers, to take sabbaticals or switch departments, a move that often precedes job cuts. Partners, about one-fourth of the attorneys at the biggest firms, may also face some belt tightening.”
Boy O Boy! You may get a bonus but, you won’t have a job in 2008. People this thing is getting real nasty. Wake up! Wake up!
The What
Someday this war is gonna end….
11:39 AM you’re right, it can be very disheartening… but I do believe that most of the callous posters at this site are in the minority, and definitely haven’t lived in this city for any length of time.
Most of us were renters long before we
purchased our homes…
The landlord in the Sunset Park story sounds like many of the posters here, whenever stories about rent control, rent stabilization or tenants’ issues comes up. Ceiling near crib falls – “if you don’t like it, you can move.” Lovely.
Yesterday, Bloomberg reported that bonuses will total a record $38 billion, which flies in the face of those grim down 10% and down 15% predictions. That comes out to about $201,500 for every Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Sterns blueshirt on your block. Of course, the guys at the top will be clearing $10 million, so those averages don’t mean much.
Say what you will about Marty, the guy can wear a suit. To quote the late, great Warren Zevon, “I’d like to meet his tailor.”
I read the Eagle article about Kruger twice and I’ll be damned if I can find where it states WHY he is going to fight the mayor’s plan for Coney Island. It does quote Kruger as saying the plan is “a back-door approach to eminent domain” but that’s not really an explanation. Is the state senator being pugnacious (or flexing his muscles prior to a run for borough president) or is this just bad journalism?