Category: Condos

A toe in the ownership water: Part 2, the would-be sellers

18 December, 2008 (09:24) | Condos, Finance, Innovations, Markets, New York City, Rent-to-own, Subprime, Tenure | No comments

[Continued from yesterday's Part 1.]
 
In our exploration of the infancy of twenty-first century rent-to-own, using this New York Times story as our text, we have up to now heard from the would-be buyers who intend to be homeowners – condo owners – one day, but are delaying for any of several good reasons:
 

My superego and [...]

A toe in the ownership water: Part 1, the would-be buyers

17 December, 2008 (09:35) | Condos, Finance, Innovations, Markets, New York City, Rent-to-own, Subprime, Tenure | No comments

There goes my wallet! And my ego with it!
 
The thing about falling prices is that even as commodities get cheap (have you looked at the price of gasoline lately?), our human desire not to look foolish to ourselves keeps us from buying – because maybe the price will fall even further tomorrow.  Yet housing, distinct [...]

Where does *your* market hurt?

19 November, 2008 (09:45) | Condos, Markets, Subprime, US News | No comments

Granular data has the annoying habit of disrupting the mythic narratives that we construct for ourselves,.  Although to read the newspaper you’d think the real estate downturn was omnipresent, in fact the pain is unevenly distributed. 
 

It only hurts when I sell, doctor
 
This is demonstrated by a really nice piece of quantitative analysis by my [...]

Any which way you can?

18 September, 2008 (08:22) | Condos, Legal, Markets, Subprime, Tenure, US News | No comments

Do you feel … lucky?
 
Ever get yourself into an oh-no fix?  One of those where, scarce seconds after you’ve slammed the car door shut, hit the delete key or the flush lever, or seen the subway doors shut behind you bearing away your luggage?
 

Not that lever!
 
Multiply that by roughly a thousand and you have the [...]

When a condo busts: Part 2, up from the bottom

28 May, 2008 (08:30) | Condos, Markets, Subprime, US News | No comments

As we plumb the depths to which an unsold condo may sink –
 

I barely recovered my deposit
 
– based on a New York Times visit to deepest darkest high-rise Miami, we have seen an investor being escorted through corridors measureless to man down to a sunless lobby.
 

The lights are turned down to save on electricity costs, [...]