Articles on NYC Economy

Your August NYC Real Estate Good News Roundup

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  • Is the Worst Behind Us? from NREI: "Retail was the best performing sector over the past quarter, benefitting from relatively strong income growth and a smaller capital decline than other sectors."
  • Survey: Recession seen ending in third quarter from MSNBC: "The Blue Chip Economic Indicators survey of private economists released on Monday showed about 90 percent of the respondents surveyed believe the economic downturn will be declared to have ended this quarter."

From Bloomberg: 3-Pack of Good News for the Future of New York Real Estate

Real Estate News from BloombergThree items posted yesterday at Bloomberg:

Pending Sales of Existing Homes in U.S. Surge 3.6%: "'It’s a modest recovery, however these numbers are exceeding people’s expectations,' said David Sloan, senior economist at 4Cast Inc. in New York, one of three forecasters who shared the highest projection in a Bloomberg News survey."

Pending Home Resales in U.S. Probably Rose for a Fifth Month: "Homebuilder stocks have climbed over the last month amid evidence that demand is settling at low levels or picking up. The Standard & Poor’s Supercomposite Homebuilding Index rose 22 percent in July and closed yesterday at 261.28, the highest level since May 4.

After Tough Week, New Home Mortgages Surge Back

dollarIn the week ending July 3, mortgage rates rose 10.9%, more than making up for the feeble previous week. More details (and more encouraging figures) here: Mortgage applications rebound.

Demand for mortgages to buy homes and refinance loans bounced from seven-month lows last week, with average 30-year borrowing rates unchanged, the Mortgage Bankers Association said on Wednesday. The industry group's total loan applications index rose a seasonally adjusted 10.9% to 493.1 in the week ended July 3, after slumping the prior week to the lowest level since November.

July 4th Glass-Half-Full Real Estate News Roundup

4thHappy 4th, everyone! Feel like reading something positive this weekend? It might not all be knock-your-socks-off great news, but there's plenty of silver linings. Let's get right to it...

 

In the Mood for Some Good News about Manhattan Real Estate?

Good news about Manhattan real estateWell, why not start off with just plain all-around good news. According to Bloomberg:

Consumer spending in the U.S. probably rose in May for the first time in three months and home sales increased as Americans became more confident the recession will end this year.

So that's the feeling in the air across the country. What about our part of the world? Yep, it gets better. In fact, CNBC says Northeastern U.S. home sales rose almost 4 percent in May. Huge!

Three Specific Reasons to Invest in Real Estate in 2009

Investing in real estate in 2009Nice and simple article on the top three reasons to pick up real estate right now. As America Foy sees it, here's your top three:

"Interest rates are at an all-time low." Straightforward as can be... the less money you're spending on interest, the more you're investing. What an opportunity.

First-time Home Buyer's Tax Credit = Your New Down Payment?

How does the first time home buyers tax credit work in New York?We've written before about the first-time home buyer's tax credit. It's been a great opportunity all along. Now here's an interesting development... As the FHA reports, the tax credit can now function as a kind of mortgage down payment. Technically, a buyer can use it as kind of interim financing known as a bridge loan or even an $8,000 cash advance.

4 Manhattan Neighborhoods to Get In While the Getting's Good

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Did you catch The Opportunist's Guide to Real Estate from New York magazine? Pretty fascinating piece... The mag put together a list of NYC neighborhoods that flourished in the '80s, dipped during the early '90s, and then came storming right back through the mid '00s. Huge, huge numbers for some of these... Take a look at the list's Manhattan neighborhoods:

5 Reasons New York Real Estate Is Better Than You Think

goodTurns out we're not the only ones who like good news about the New York real estate market...

New York is still New York--it's the planet's best-equipped city when it comes to stuff like this.