Maybe It’s the Other Way Around “New construction often brings down the value of older homes, which wear out and go out of fashion, dragging down prices.” –Robert J. Shiller, “Housing Market is Heating Up, If Not Yet Bubbling”; The New York Times (9/29/2013) It’s a classic glass half full/half empty debate: housing bears such...Read More
Older, More Cautious First-Time Buyers “Low interest rates and relatively low prices can take the housing market only so far. For the market to truly heal, the economy must also heal.” –“Who Wants to Buy a House“; The New York Times (9/28/2013) My clients know that I regard the housing market as a dependent variable,...Read More
Upgrading “Disused” Office Space Fans of late, lamented sitcom “Will & Grace” will note that Grace’s fictional office space in Soho’s Puck Building is getting an upgrade. According to The NYT, Jared Kushner — perhaps better known as Donald Trump’s son-in-law — is revamping the upper floors into six, deluxe penthouses. Asking price for the cheapest?...Read More
Comparing Housing — and Auto — “Apples & Oranges” Heard the one about the physicist, the chemist, and the economist stranded on a desert island? A can of soup washes ashore — but the three (hungry) professionals have no way to open it. The physicist says “We could drop it from the top of that...Read More
Does This Picture Make Anyone Else Nervous? The picture above accompanied a recent New York Times article, “Silence Underground,” discussing a shuttered Chinese coal mine and the corruption afflicting Chinese state conglomerates generally. But what caught my eye was the precariously perched building. The bluff directly in front of the middle of the building clearly...Read More
“The first few episodes of “Ray Donovan” are disappointing ” grandiose, predictable and painfully slow.” –“Family Ties, Boston-Style, in Los Angeles”; The New York Times (6/27/2013). I just watched the first, terrific episode — I taped tonight’s episode #2 — and I think The New York Times’ TV critic got it exactly wrong. My take?...Read More
