Category Archives: NYC

Not so good in NYC

Posted on October 2, 2019 by grim

From the very rarely cited Fox News: NYC housing prices in near ‘free fall,’ conditions mirror recession era following tax hikes The Manhattan real estate market stumbled in the third quarter of 2019, new reports show, as prices plunged and fewer buyers were willing … Continue reading →

Posted in Economics, Housing Bubble, NYC | 167 Comments

Pounding salt

Posted on July 20, 2019 by grim

From LoHud: Housing market in Lower Hudson Valley slows as SALT impact weighs on high-end The housing market in the Lower Hudson Valley region has shown a slight slowdown in the second quarter, and experts blame the decline on the new tax … Continue reading →

Posted in Economics, New Jersey Real Estate, NYC, Property Taxes | 49 Comments

Train town prices go poof

Posted on June 14, 2019 by grim

From Bloomberg: NJ Transit Train Delays Hit a Record After the Governor’s Pledge to Fix Them New Jersey Transit commuter trains have hit their worst on-time and reliability records in the 18 months since Governor Phil Murphy promised to overhaul … Continue reading →

Posted in Economics, New Jersey Real Estate, NYC, Politics | 70 Comments

A new record for NYC

Posted on June 5, 2019 by grim

From the WSJ: Philip Falcone Sets NYC Record With Nearly $80 Million Townhouse Sale Former hedge-fund manager Philip Falcone has sold a New York townhouse for close to $80 million, making it the most expensive residential townhouse ever sold in … Continue reading →

Posted in Comp Killer, Economics, Employment, NYC | 137 Comments

Where do the rich live?

Posted on March 24, 2019 by grim

From Bloomberg: These Are the Wealthiest Towns in the U.S.

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 105 Comments

See ya!

Posted on February 5, 2019 by grim

From the NY Post: As revenue drops, concern about the proposed state budget rises Gov. Andrew M. Cuomo on Monday announced a dramatic drop in state income tax revenue of $2.8 billion, which he says will prompt him to revise his 2019-20 budget … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 159 Comments

Anywhere but here

Posted on January 27, 2019 by grim

From the Real Deal: Why millionaires are fleeing NYC and New Jersey Volatile financial markets are leading high net worth individuals to leave New York and New Jersey in droves. Last year, the region encompassing New York City, Jersey City … Continue reading →

Posted in Economics, New Jersey Real Estate, NYC, Unrest | 4 Comments

Don’t believe the hype?

Posted on January 9, 2019 by grim

From MarketWatch: Why the housing and mortgage crisis is far from over With major data providers reporting that mortgage delinquencies continue to decline, Wall Street and the pundits are more convinced than ever that the mortgage crisis is dead and … Continue reading →

Posted in Foreclosures, National Real Estate, NYC | 64 Comments

Maybe the infrastructure isn’t all junk?

Posted on January 8, 2019 by grim

From the Star Ledger: Andrew Cuomo shows Phil Murphy the light at the end of the tunnel Our governor was off on an African safari for the holidays. Meanwhile New York Gov. Andrew Cuomo was doing some pretty impressive legwork … Continue reading →

Posted in NYC, Politics, Unrest | 49 Comments

Maybe they’ll just stay in Manhattan?

Posted on January 4, 2019 by grim

From Bloomberg: Manhattan home prices fall under $1 million as sellers cut deals Manhattan home prices fell in the fourth quarter, with the median slipping to less than $1 million for the first time in three years. Ample inventory continued … Continue reading →

Posted in Demographics, Economics, NYC, Price Reduced | 107 Comments

What middle class?

Posted on December 24, 2018 by grim

From the New York Post: New York City’s endangered middle class in exodus, analysts say New York City’s shrinking middle class is now in full retreat, as masses of our most endangered population depart the city in numbers not seen … Continue reading →

Posted in Demographics, Economics, Employment, NYC | 24 Comments

The New Manhattan

Posted on December 21, 2018 by grim

From Crains: Mounting Manhattan inventory pulls down home prices Prospective Manhattan home buyers had plenty of options in November, and their wallets were thankful for it. The average price of condos, co-ops, townhouses and single-family homes on the market dropped … Continue reading →

Posted in Gold Coast, NYC | 92 Comments

The king falters

Posted on December 3, 2018 by grim

From the WSJ: New York’s Wealthiest Cut Losses as Manhattan Real Estate Falters When actor Brian Kerwin decided to sell his longtime Manhattan home—an 1880s Romanesque townhouse he and his late wife had carefully restored—he was hoping it would go … Continue reading →

Posted in Demographics, Economics, Employment, New Development, NYC | 174 Comments

Sorry Jersey, not for you.

Posted on November 21, 2018 by grim

From Fortune: Long Island City Real Estate Booms After Amazon Announces New York Office, Report Says Though Amazon said it won’t begin hiring for its newly announced office in Queens, N.Y. until 2019, condo sales in the neighborhood are already … Continue reading →

Posted in Economics, Employment, NYC | 32 Comments

A better outcome for NNJ?

Posted on November 13, 2018 by grim

Is this actually the best result for NJ? Discuss. From the WSJ: New York City and Northern Virginia will be the homes for Amazon.com Inc.’s second and third headquarters, according to people familiar with the matter, ending a more than … Continue reading →

Posted in Economics, Employment, North Jersey Real Estate, NYC | 163 Comments