Real Estate Directory

Don't Bury The Economy Just Yet

The economy grew 0.6 percent last quarter. Technically meaning we are not in recession. Like the engine that could, this economy is not giving up without a fight, despite raising food and gas prices. Not to mention housing and credit.

"The economy is weak but not collapsing," said Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. "A recession can't be ruled out, although the stars are not lined up at this point to definitively say one way or the other."

Taxing the Internet

NY City approved a new Internet tax for reatailers that could have sweeping ramification across the Internet. The justification was for brick and mortar businesses who argued that many people will shop "live" and then go online and buy it cheaper without tax.

Taxes tend to spread virally. Until now a taboo subject, most municiplaities were afraid to be the first to break with the "free" internet. However, with a dragging exonomy the net will no doubt be in the scope of many States and Cities.

The Net Beats Newspapers for Election Information

How Americans Are Searching For Election 2008 Information

Rob Garner mentioned in his newsletter that MediaPost released a study on: "How America Searches: Election 2008 Update". 

I mention politics here because it will be interesting to see the disconnect of what happens online, than what actually happens in the General election. Often I think online behavior is akin to us thinking about something, while our behavior acted out is different.

Mansions Are Hot!

Palm Beach mansion gets $81.5 million

Can you afford a half a million property tax bill? To some that is the price of luxury. The oceanfront estate built by billionaire businessman and philanthropist Sidney Kimmel has sold for $81.5 million, a record in Palm Beach Florida.

The $81.5 million sale of the mansion at 1236 S. Ocean Blvd. in Palm Beach is proof positive that the high end luxury market moves without regard for the rest of the real estate market.

"The house was in impeccable condition, with the finest details," said real estate agent Koch, adding that three other buyers were interested in the property.

The mansion/ estate boasts 5 lushly landscaped acres and 300 feet of ocean frontage. The 32,000-square-foot home was designed by Thierry Despont, who also created Bill Gates' mansion. The living room includes 26-foot ceilings and 20-foot-high glass panels that disappear into the floor at the push of a button.

  Sarasota Homes

Supply and Demand

When a market won't jump to attention from Government bailouts, let good ole supply and demand force it into submission. From today's LA Times:

The city of Los Angeles must build nearly 113,000 new housing units by 2014 to meet the needs of a growing population without worsening the shortage of affordable homes, according to a new city study.

Some 25% of the homes need to be affordable for poor and lower-wage workers, yet new development in LA is primarily for wealthier buyers and renters, according to the study.

How did we get here?

A cute cartoon of the housing crisis and we got from there to here, by real estate consultant.