Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Back in 1999, a quarter of all 25-year-olds lived with their parents. By 2013 this number has doubled, and currently half of young adults live in their parents home. While the troubling implications for the economy from this startling increase are self-evident, and have been extensively discussed both here and elsewhere (and are among the…
Photo by Erin. The D.C. government is hardly the only entity taking advantage of the city’s hot housing market to turn a tidy profit. More than a quarter of all homes sold in 2015 passed hands in less than three years, according to data published by District, Measured. Problems with unscrupulous house flippers (and…
Right, the townhouse a developer paid two holdout tenants $25 million to leave. (Google Maps) Two tenants who refused to move out of their apartment in a 10th Avenue townhouse in Manhattan hit pay dirt last year when developer Tishman Speyer agreed to pay them $25 million to scram. The pair, Gary Schwedock, 58,…
For “subprime”, read “non-prime”. Yield-hungry investors are ready to endorse a revival of bonds backed by riskier US residential mortgages, as lenders warm to housebuyers who do not meet strict borrowing guidelines introduced after the financial crisis. More ON THIS TOPIC VW car loan securities at risk of losses EU plan to revive ABS faces…
On Sunday, New York City got a new subway station: An extension of the 7 train, which has been extended a mile-and-a-half, from Times Square to 34th Street-11th Avenue in West Chelsea. The station was supposed to open before the end of 2013, after six years of construction, but the opening was delayed by issues…
When it comes to street artists, Shepard Fairey is about as establishment as it gets. Even if you don’t know his name, you’d probably recognize at least a couple of his images: the much-imitated “Hope” poster that came to symbolize Barack Obama’s 2008 presidential campaign, and the “Obey” series that features the enigmatic face of…
It came as no surprise two years ago in an earnings call that Equity Residential, the giant apartment landlord, was bullish on Brooklyn. The borough “has come on strong with double-digit base rent growth,” said David Santee, chief operating officer of the real-estate investment trust. Today, though, Chicago-based Equity is striking a different chord: While its Manhattan assets are…
Are stories about $100 million Long Island palaces getting you down? Do you feel increasingly like you’ll never be able to afford to live alone? Does the average home sale price in Manhattan make you want to curl up in a ball of emotions? These are all pretty normal signs of Post-Gentrification Real Estate Depression….
Councilmember Laurie Cumbo and Assemblywoman Diana Richardson rallying with tenants outside of 285 Schenectady on Wednesday night (UHAB) Dozens of Crown Heights tenants and allies gathered for a candlelight vigil near the corner of Schenectady Avenue and Union Street last night, in solidarity with 55 families at 285 Schenectady and 1646 Union who will…
Some Photoshop concepts, no matter how ill-conceived, must be seen to the bitter end Things are reaching a boiling point in the sleepy crime-riddled hamlet of The Hamptons, USA. There have been Uber shortages, LIRR restriction, helicopter bans, and fornicating yupster Bros aplenty. Dr. NY Times is here to diagnose the problems, which they…