A recent piece in the Wall Street Journal detailed what appears to be a blossoming recovery in the ravaged Phoenix housing market. What the Journal found was a bounce-back that is reshaping the Phoenix market in some fundamental ways and, as always, there are winners and losers. Basically, the Phoenix market has hit bottom, and [...]
Analytics company CoreLogic Inc. has reported that delinquency and foreclosure rates in the greater New York City area rose at the end of 2011, bucking a national trend toward reductions in both categories. In December 2011, foreclosure inventories hit 4.6 percent, a 0.6 percent increase from the previous year, while delinquency rates hit 7.9 percent [...]
The New York Times recently published a column on the population of Manhattan and its continued growth. We’ve all been there, cutting people off, giving dirty looks because someone has the nerve to walk at a casual pace, jamming into a subway car that will save you minutes instead of waiting for the next one, [...]
Despite anemic home prices around the country and a sour market in the fourth quarter of 2011 in New York City, city brokers have high hopes for 2012, according to a recent report by the Real Estate Board of New York. According to REBNY, 60 percent of the residential broker members it surveyed expect some [...]
Since the Great Recession hit, residential sales in New York City have been sluggish compared to the red-hot pre-bust bonanza. Sure, the top of the market’s doing fine, but the average agent might be struggling the close enough sales to stay afloat. Though city-dwellers may not have the cash to buy, they still need a [...]