Tag Archives: housing

Boom in Luxury Towers Is Warping New York Real Estate Market – NYTimes.com

19 May

“There are only two markets, ultraluxury and subsidized housing,” said Rafael Viñoly, the architect who designed the tower on Park Avenue at 56th Street, which is called 432 Park.

The rush to build these towers underscores the gap between rich and poor in New York City, said James Parrott, chief economist for the Fiscal Policy Institute, a liberal research organization supported by unions. He said that median family income in the city had fallen 8 percent since 2008.

“Manhattan’s superluxury condo boom, along with rocketing foreclosures in Queens and record homelessness, present an unobstructed view of accelerating polarization in this recovery,” Mr. Parrott said.

via Boom in Luxury Towers Is Warping New York Real Estate Market – NYTimes.com.

The Coolest Earth Houses around the World

9 May

An earth house also known as an earth berm or an earth sheltered home is an architectural style characterized by the use of natural terrain to help form the walls of a house. An earth house is usually set partially into the ground and covered with thin growth. Modern earth houses are built with concrete walls and insulation. Earth houses are some of the most energy efficient.

via The Coolest Earth Houses around the World.

Occupy Our Homes Saves Another Family From Foreclosure | The Nation

13 Jun

Occupy Our Homes, a movement to protect families from foreclosures and evictions, has enjoyed a recent string of successes. In February, the group helped Helen Bailey, the 78-year-old former civil rights activist who was threatened with foreclosure by J.P. Morgan Chase while the company trumpeted its efforts to uphold Martin Luther King Jr.’s legacy, to stay in her home following a successful campaign by Occupy Nashville.

The group also aided a Detroit husband and wife who spent months worrying they could be evicted from their home of twenty-two years. The couple received news they would be permitted to stay after an aggressive campaign that was led by members of Moratorium Now, Occupy Detroit and Homes Before Banks and included the family’s supporters blocking the contractor from placing a dumpster.

Additionally, Occupy Atlanta prevented the eviction of a family when two dozen protesters encamped on the family’s lawn, and Occupy Our Homes delayed another foreclosure in Rochester, as did Occupy Cleveland in November.

And more.

via Occupy Our Homes Saves Another Family From Foreclosure | The Nation.

The Death of the Fringe Suburb – NYTimes.com

27 Nov

Over all, only 12 percent of future homebuyers want the drivable suburban-fringe houses that are in such oversupply, according to the Realtors survey. This lack of demand all but guarantees continued price declines. Boomers selling their fringe housing will only add to the glut. Nothing the federal government can do will reverse this.

Many drivable-fringe house prices are now below replacement value, meaning the land under the house has no value and the sticks and bricks are worth less than they would cost to replace. This means there is no financial incentive to maintain the house; the next dollar invested will not be recouped upon resale. …

The good news is that there is great pent-up demand for walkable, centrally located neighborhoods in cities like Portland, Denver, Philadelphia and Chattanooga, Tenn. The transformation of suburbia can be seen in places like Arlington County, Va., Bellevue, Wash., and Pasadena, Calif., where strip malls have been bulldozed and replaced by higher-density mixed-use developments with good transit connections.

via The Death of the Fringe Suburb – NYTimes.com.