News about properties and real estate
Gentrification Arrives at a Crossroads in Yorkville – New York Times The intersection of Lexington Avenue and 86th Street is arguably the crossroads of the Upper East Side of Manhattan, a transportation hub within easy walking distance of some of the costliest real estate in the city. Yet for decades it has resisted gentrification. On …
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Troubles mount for flood insurance The National Flood Insurance Program is in trouble. Congress increased the program’s borrowing authority to $18 billion to pay an expected 200,000 claims from Hurricane Katrina. But the Federal Emergency Management Agency program can’t repay the loan, David Maurstad, a top FEMA official, told Gannett News Service. “The program doesn’t …
White House targeting mortgage deduction This autumn, the president convened a tax advisory board, who under the auspices of devising simpler and fairer tax laws, were poised to further damage the housing market by suggesting a reduction of the mortgage-interest deduction. The ill-conceived tax proposal could rival the devastation resulting from a large-magnitude earthquake in …
Manatee’s mobile home parks may be next to go (Florida) Spend a few hours at Windmill Manor mobile home park with Jan McMeans and you’ll meet an entire neighborhood. “That’s my girlfriend’s house over there,” said McMeans, as the 66-year-old pulled her golf cart over to say hello to the seventh person in a five-minute …
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Creative financing helped fuel commercial real estate boom The dominant story in real estate the last two years has been cash — fabulous amounts of cash in furious pursuit of real estate. One chapter that emerged from that story was the evolution in the way lenders financed those deals, including their willingness to provide higher …
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County pressed to move on offer for apartment complex A chance to purchase more than 200 apartments and preserve what little remains of affordable housing has county leaders scrambling against a ticking clock to respond to an offer that would make the county a landlord. An attorney representing Willow Lake Apartments, a 240-unit community outside …
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