This week in comments

Will
yesterday’s news about record bonuses on Wall Street have a tangible
impact on the residential market?
In my opinion, the answer to this question is no it will not. The
reason for this opinion is that wall streeters who received large
bonuses in the past were able to buy condominiums and homes with less
than 10 percent to 15 percent down, which is obviously not the case in today’s world.
In addition, these same wall streeters whom received these bonuses in
the past were more willing to purchase homes with their windfall
because they figured that bonuses in future years were a certainty,
which also is not the case in the current economic climate we live
in.

Controversial
anti-high-rent party sees leadership fracture
Move to South Carolina where rents are cheaper.

Rental activity down 60 percent, report shows
What [are] they looking for a Nobel Prize? Reports are created to portray
what they want the market to be. We have enough fair
and catastrophe preachers in Washington, and that’s where they
belong, not on the streets of New York City.

Will
FHA require a bailout?
At this point, does it even matter? Add a line in the closed fed
balance sheet, recapitalize FHA, issue more debt via T-bills , and
forget this whole mess ever happened. Fiat currency systems are shell
games, FHA is ‘bailed out’ with a line in a database, nothing
fundamentally changes, but money is created [and] the world keeps
turning.

PS90
condominiums: A test case in Harlem
This building conversion [is] a welcome relief to this neighborhood. In
fact there is another school just like this on 145th [Street] and Amsterdam
which some local community can’t fix up but they won’t let go [of] either.
What a shame. I wish the city did this to every beautiful but
dilapidated building in Harlem. Harlem’s potential would really be
seen then! I welcome these positive changes in Harlem. It is the
safest it has ever been in the 50 years I have been alive. Please keep
it up!