Meet the shady foreigners propping up New York’s real estate market – Fortune

In a country beset by increasing wealth and income inequality, few places are more economically disparate than New York City. Part of what drives income inequality in New York is that it’s an extremely attractive place for the global elite to live, or in many cases to park their vast fortunes. On Sunday, The New…

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Why New York Real Estate Is the New Swiss Bank Account — New York Magazine

One57, on West 57th Street, where a penthouse is reportedly in contract for $90 million. (Photo: Rendering Courtesy of Extell Development) Additional reporting by Michael Hudson of the International Consortium of Investigative Journalists. PART I. THE BUYER The buyer, an Italian, was in town for a week, with a million or so dollars to spend….

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China January Inflation Hits Five-Year Low, Pressure Builds for More Policy Support – NYTimes.com

close shareTools BEIJING — China’s annual consumer inflation hit a five-year low in January while factory deflation worsened, underscoring deepening weakness in the economy and heaping pressures on policymakers to inject more stimulus to underpin growth. The risk of deflation is rising for the world’s second-largest economy as a property market downturn and widespread factory…

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How a prep school math teacher has exploded the debate over affordable housing in San Francisco – The Washington Post

Would making all of this taller actually solve the affordability problem? (By Flickr user @sage_solar, via Creative Commons Attribution license) In San Francisco, pretty much everyone agrees on one thing: The city’s housing is crazy expensive. Apartment-hunting causes its own form of PTSD. The rent, to put it simply, is too damn high. But even…

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Bay Area renters group advocates for more density to solve housing crisis – San Francisco Business Times

Start Component ID: 4471 – Article Page: Video Player Main Asset End Component ID: 4471 – Article Page: Video Player Main Asset Start Component ID: 146 – Article Page: Image Gallery Begin Photos Enlarge Photo Conner Jay Sonja Trauss, the founder of San Francisco Bay Area Renters Federation, holds up a pro-development sign at 75…

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$4,500 ‘Affordable Luxury’ Apartments Have Heated Floors and Wine Fridges – Flatiron – DNAinfo.com New York

41 W. 24th St. View Full Caption FLATIRON — “Affordable luxury” three-bedroom apartments are hitting the market in Flatiron, offering balconies, heated bathroom floors and granite countertops for $4,500 a month. Ten three-bedroom units will soon be available in the eight-story building at 21 W. 24th St., two blocks from Madison Square Park, in what…

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MAP: New Ferries Coming to Rockaway, Astoria, The Bronx, LES and Brooklyn – Rockaway Beach – DNAinfo.com New York

The East River Ferry, one of the city’s water transportation options. View Full Caption Flickr/Sean Davis ROCKAWAY BEACH — Mayor Bill de Blasio announced expanded ferry service across the five boroughs in his State of the City address Tuesday, saying the rides will improve transportation as the city continues to grow. The new ferry routes…

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