April 2008 Vol.28, No. 4
The April 2008 issue of The Cooperator newspaper focuses on Real Estate Market/Expo.
In this issue, you can read about 2007 market review, moderating along witht he market, defying an uncertain market, changing markets and the process of building residential housing.
News Briefs
- 4.22.08 The sleek glass tower at 51st Street and Second Avenue, where a crane collapse last month killed seven, rises 18 stories, nearly halfway to its promise of 43 stories, 180 luxury apartments and panoramic views of the city. [NY Times]
- 4.14.08 Many renters may believe that they have avoided the chaos of the subprime loan crisis and the mortgage meltdown simply by renting and not buying, but they may not be as insulated as they think [NY Times]
- 4.07.08 WHEN it came to hunting for a rental in Brooklyn, Kaitlin Andrews and Ryan Morgan knew they would have to make some compromises. [NY Times]
- 4.07.08 THE real estate markets of the Bronx, Queens, Brooklyn and Staten Island are suffering from the housing downturn that has afflicted much of the country, and yet they still have some pockets of strength. [NY Times]
- 4.02.08 While most of the nation plods through a housing slowdown, Manhattan is experiencing its highest prices in history. [NY Times]
- 4.1.08 In any real estate market, the question is asked, in voices both low and loud: What exactly do those brokers do for their 6 percent commission? [NY Times]
- 3.16.08 Any nervousness they felt in making a stingy offer — lowballing is typically defined as offering less than 90 percent of a house’s asking price — fell away the minute they struck a deal on their two-bedroom raised ranch in Pawling, NY, in Dutchess County. [NY Times]
- 3.25.08 Brokers fear second opinions because, human beings being what they are, people always want to justify why someone asked them to come in. So the first thing they do is look for something wrong. [NY Times]
- 2.25.08 New York City apartment owners can hardly be blamed for feeling nostalgic, and a little depressed, as they receive their increases in condominium common charges and co-op maintenance fees this year, for many, the fifth or sixth in a row. [NY Times]
- 2.25.08 Thinking of buying a condominium? It's a good idea for all sorts of people, from empty nesters downsizing to young professionals who don't need a yard and a big house yet. But purchasing a condo works best when buyers understand all the potential challenges. [Detroit Free Press]
- 2.21.08 Manhattan Borough President Scott Stringer and the city's Department of Buildings each announced initiatives aimed at keeping a closer eye on construction site safety. [Crain's]
Featured Articles
The Process of Building Residential Housing
If one aspect of New York has remained constant since the city’s founding, it’s that nothing remains constant. New York’s own Washington Irving, the writer for whom Irving Place is named, groused in his September years that the city he recalled from his youth no longer existed. Too much had changed, he lamented. And that was in the 1850s, before the Civil War, skyscrapers, and Donald Trump. Read More
Changing Markets, Evolving Expectations
In the 1950s, televisions were pieces of furniture the size of deep freezers. In 2008, TVs are flat and hang on a wall. The 50’s were about jukeboxes; the 80’s saw the Walkman and CD player and, today, it’s the small-but-mighty iPod. And computers? In the 1950s, they took up a whole room. Today, they are held in the palm of your hand. Read More
Defying an Uncertain Market
When one looks at the real estate market in New York City—which, excluding such homeowners’ havens as Bay Ridge, Bayside and Staten Island, usually means the apartment market—one sees a picture similar to last year. All over the country, one hears about “the real estate bubble bursting,” but that metaphor doesn’t seem to have reached New York yet. Read More
Moderating Along with the Market
As the housing market boomed in the early parts of the last decade, apartments in New York City seemed to be snapped up mere days (sometimes mere hours) after being put on the market. As the trend continued, thousands of people set out to get their real estate license and become professional brokers in hopes of cashing in on the frenzied market. Read More
A Look Back at an Active Year
As 2007 came to a close, it seemed that the real estate market in nearly every part of the country had cooled. But in New York City, although movement had slowed, the market did not take a downturn as many had expected. Co-ops and condos continued to move—although perhaps without the buying and selling fervor that characterized the earlier part of the decade. Read More
