New York City, After the Boom
After an extraordinary era of construction and renovation, demolition and replacement, there will almost certainly come a long period in which little to nothing gets built…We have inherited, from the good years, a glut of housing, almost all of it of the unaffordable kind—condos galore—and an increase in office space amid a sudden, steep decrease…
No idea.
No answers? Anybody? DIBS? Pole?
“Is there a site which lists how many construction projects are in each borough, how many units, how many sold, how many in contract, etc etc?”
Pleas don’t tell me to google. There are some similar sites but nothing quite like what I’ve described.
Thank you 11217.
wait a minute – 11217 agrees with polemicist and winelover agrees with 11217?
I believe however, that just like NYC is somewhat different from the rest of the country, so too is there a neighborhood-by-neighborhood and even street-by-street difference in the market here. Such is the nature of gentrification for lack of a better term. Gentrification, that is, in its broadest definition where these developments are occurring in what have to date been largely low rise housing.
SPOT ON DAVE
zzzzzzzzzzzzzzzzzzzzzzzz
Yep, What, most of us read The Times about 4-6 hours ago.
Late to the game, per usual.
Hey Derwood! Hiya doing Buddy!
Well well December is the GTFOOH month! Terminations rule the day as companies throw Asshats overboard to save their sinking ships!
AT&T, DuPont, Viacom Fire 15,000 Workers as U.S. Slump Worsens
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVEAHBE2QEXU&refer=home
“Dec. 4 (Bloomberg) — AT&T Inc., DuPont Co. and Viacom Inc. are firing more than 15,000 people, buckling under the strain of a recession that may already have pushed the U.S. jobless rate to the highest level in 15 years.”
Yeah those 4.5% interest rates will save us, NOT!
Oh please read this: The is the FED Beige Book and it’s NOT GOOD…
http://www.federalreserve.gov/fomc/beigebook/2008/20081203/default.htm
Overall economic activity weakened across all Federal Reserve Districts since the last report. Districts generally reported decreases in retail sales, and vehicle sales were down significantly in most Districts. Tourism spending was subdued in a number of Districts. Reports on the service sector were generally negative. Manufacturing activity declined in most Districts, and new orders were soft. Nearly all Districts reported weak housing markets characterized by reduced selling prices and low, but stable, sales activity. Commercial real estate markets declined in most Districts. Lending contracted, with many Districts reporting reductions in residential, commercial and industrial lending and tightening lending standards. Agricultural conditions were mixed with a relatively good harvest but concerns about profitability. Mining and energy production and exploration started to soften due to lower output prices.
2009 is going to be a horror show and I can’t wait for the carnage..
The What (But… But… I’m a VP, you can’t fire me…)
Someday this war is gonna end…
I have some friends in the process of moving from other parts of the country to New York and they didn’t even want to look in Manhattan and have narrowed their search directly to Brooklyn. One of them is a family who used to live in Inwood years ago, and they said it’s not on their list now, because they’ve heard that Brooklyn is so family friendly these days and they found upper Manhattan too dirty and run down.
Just to let you know what a couple outsiders seem to think about the city…
i actually agree with 11217. new construction stops, some condos go rental, then tada, supply constricts to the point that it forces prices up. not today mind you.