Category Archives: NYC

Did NYC kill NYC?

From the NY Post: NY’s job deficit continues to grow from already high pre-pandemic levels: federal data New York still has 454,000 fewer private-sector jobs than it had two years ago before the coronavirus pandemic hammered the city and state — … Continue reading

Posted in Demographics, Economics, Employment, NYC | 173 Comments

Lawwwnguyland

From Newsday: Long Island home prices surged 60% since 2012 Long Island homebuyers today have to spend more, move faster and choose from a vastly smaller roster of listings than a decade ago, according to a new report from real … Continue reading

Posted in Economics, National Real Estate, NYC | 81 Comments

Shovels Ready

From the Star Ledger: Feds clear the way for Gateway Tunnel project to get billions in funding The final hurdle needed to qualify for federal funding to start building the $12.3 billion Gateway rail Tunnel was cleared Thursday when the Federal … Continue reading

Posted in New Development, New Jersey Real Estate, NYC | 104 Comments

When do we get our recovery?

From the NY Federal Reserve: The Region Is Struggling to Recover from the Pandemic Recession The pandemic struck the New York-Northern New Jersey region early and hard, and the economy is still struggling to recover nearly two years later. Indeed, employment … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 73 Comments

You load 16 tons, what do you get?

From the Star Ledger: Hudson River rail tunnel gets green light from the feds to start building it A major and final bureaucratic hurdle has been cleared by the Gateway Tunnel project after the U.S. Army Corps Of Engineers issued a permit … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 259 Comments

LI hitting a wall?

From Long Island Business News: Long Island home prices head lower again The prices of Long Island homes dropped for the second straight month in October.  The median price of closed home sales in Nassau County last month was $650,000, down from the $661,500 median … Continue reading

Posted in National Real Estate, NYC, Price Reduced | 163 Comments

Still strong on LI

From LI Business News: Long Island home prices climb on strong sales Prices of Long Island homes sold last month rose compared with a year ago, boosted by strong demand and a shrinking supply. The median price of homes contracted … Continue reading

Posted in Economics, Housing Recovery, NYC | 36 Comments

Not so good in NYC

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

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

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

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?

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

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

See ya!

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

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?

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