Relevant:
- Fed Runs Risk of Doing Less Than Investors Expect
- Housing starts fall 9.9% in June on Multifamily
- NYC Apartment Building Sales Plunge After Stricter Rent Regulation Rules Dent Values
- Retail Rents Have Dropped More Than 20% In Parts Of Manhattan As Landlords Get Desperate
- Workers Were Allowed To Return To New York Offices This Week. Almost None Of Them Did.
2010-07-01 — costar.com
"Competition Fierce for Choice Assets But Deals Aren't As Prolific in the First Half of Year as Some Analysts Expected"
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Comments:
tvsterling at 20:01 2010-07-01 said:
This is the wave of the future. The whole business model for traditional home ownership is obsolete. I would say the future belongs to the landlord. Housing will be bought up & managed as rentals. Only the relative few will be able to stand the inherent risks of owning in our changed world. Most workers cannot command enough income to really afford a home. Twenty years of the 'Race to The Bottom' thru outsourcing & importing illegal alien workers & destruction of worker's rights have taken their toll. Add to this the instability of modern life; jobs are no longer real carriers & marriages are generally treated as throwaways (two incomes are now needed to pay the mortgage payment). The article documents the beginning of the new reality. Permalinkadd a comment | go to forum thread
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