Month: October, 2009

In praise of folly: Part 2, the financials

23 October, 2009 (10:23) | Architecture, Boston, Humor, Redevelopment, Speculation, US News | No comments

By: David A. Smith
 
[Continued from yesterday's Part 1.]
 
In yesterday’s post, I expended several hundred words in a possibly-unnecessary exercise – intellectually demolishing the feasibility of architectural speculations, presented in the Boston Globe, that I believe even their proponents would concede are whimsical fantasies, never intended to exist beyond CAD/CAM screens and jpegs. 
 
They represent an [...]

In praise of folly: Part 1, the fantasies

22 October, 2009 (11:47) | Architecture, Boston, Humor, Redevelopment, Speculation, US News | No comments

By: David A. Smith

“So this unemployed architect walks into a bar and says, ‘our erections can last for years’.” 
 
Okay, maybe not precisely that cheesily, but something similarly whimsical had to have been in the minds of Boston Globe editors when they sent out an offer to under-employed architects, What would you do to [...]

Recovering the lost urban poor

21 October, 2009 (09:56) | Archeology, Cities, Manchester, Slums | 1 comment

By: David A. Smith

Statistics are not stories – but then again, stories are not statistics, and statistics represent the totality of real life.

We choose to remember our highlights and lowlights, our moments of intensity – and we choose to forget anything that is drab, commonplace, routine, or redolent of the profane. So, for [...]

A glut by any other name

20 October, 2009 (10:07) | Affordability, Apartments, Asset management, Demand, Housing, New York City, Theory, US News | No comments

By: David A. Smith
 
… is affordability?
 

Am I up when you’re down?
 
When the homeownership rate drops, what happens to apartment occupancy?  As illustrated by this Wall Street Journal article, the answer depends on two factors:
 
1. Why homeownership rates are dropping
2. How long it has been since the homeownership drop began
 
Start with a fact. 
 

Start with [...]

Open the books Countrywide

19 October, 2009 (10:19) | Countrywide, Policy, Subprime, US News, transparency | No comments

By: David A. Smith
 
Two years ago, two years after I’d called the market top and just as the subprime mess was beginning to break, in the form of New Century’s bankruptcy and problems alleged at Countrywide, I stuck up for Angelo Mozilo – or more precisely, I questioned the New York Times’s putative expose of [...]