Millennials Are Buying Houses, Are You?
You know who just bought a house? A new house? Ayden, and Kylie, and tens of thousands of their "millennial" generation friends. Did you also buy a house? Or no?
Boston House Was Rigged to Explode When Someone Turned On the Lights
An electrician conducting a pre-sale inspection on a Massachusetts home discovered the entire house was wired to explode when someone flipped a particular light switch.
The Futility of Homeless Shelters
San Francisco is opening a forward-thinking new homeless shelter designed to house entire communities of people who have long lived on the streets. If you would like to be pessimistic about this nice development, consider the big picture.
Spec Houses: The Kindling of the Class War
If and when America's class war-driven revolution begins in earnest, there would certainly be worse targets for guerilla action than unoccupied $100 million mansions—monuments to pure greed and speculation.
Affordable Housing vs. Dystopian Walled Cities of the Future
In California, the high cost of housing is hurting the state's economic growth and pushing its citizens deeper into poverty. But there's so much land! Why is it so hard to find somewhere affordable to rent?
Your Last Look Inside Manhattan's Most Enigmatic $55 Million Building
For decades the hulking former bank building at 190 Bowery in downtown Manhattan was stuck stubbornly sometime in the mid-1970s, covered in graffiti and oblivious to the remodeling happening around it. Recently, it was sold to a real-estate developer for $55 million, and soon it will become condos or some shit. Here's…
Renters at the most expensive building in one of the most rapidly gentrifying neighborhoods in the least affordable housing market in America are receiving "insane" monthly heating bills of up to $700 for a two-bedroom apartment. Disabling the heat in all of Brooklyn's new condos could solve a lot of problems at once.
The average monthly rent for a studio apartment in Manhattan has reached $2,350, the highest on record—"incomes aren't rising as fast as Manhattan rents, leading tenants to seek affordability by finding smaller spaces."
Foreign Investors Gutting New York City From Behind Shell Corporations
The New York Times has published the beginning of what is to be a five-part investigative series into the effect of foreign money on New York City's real estate market. About $8 billion is spent annually on individual residences that cost $5 million or more each, the Times found. Last year, over half those sales were…
Downtown Manhattan's Weirdest Building Sold for $55 Million
Jay Maisel is suddenly a very rich man. In what the New York Daily News is calling "one of the greatest returns on investment in the history of New York City real estate," the photographer who owns and inhabits the hulking 72-room building offloaded his home to developer Aby Rosen last year. Now, the selling-price is…
"Manhattan apartment prices jumped to the highest point since their 2008 peak as buyers competed for a limited supply of homes... Price gains are accelerating as demand from domestic and international buyers alike outpaces the number of properties for sale."
Manhattan's Wealthiest to Choose From Even More Living Options
According to the New York Times, at least 6,500 new condominium units are scheduled to hit the Manhattan market below 96th Street in 2015—the most since 2007 and twice as many as last year, which is great news if you can afford a condo.
The Worst Building In the Gilded City
Brooklyn, which used to be the part of New York City that "real people" could afford to live in, is now the least affordable housing market in America. It won't be too long now before people start getting upset about that.
The city of New York received 70,000 applications for 38 units of affordable housing in Williamsburg, Brooklyn. The city's affordable housing plan is a, uh, work in progress.
Feds Investigate New York Assembly Speaker Over Outside Pay
According to the New York Times, federal authorities are investigating State Assembly speaker Sheldon Silver for payments he received for about a decade from a law firm that were not listed on his financial disclosure forms as required. The investigation grew out of the short-lived Moreland Commission.
"The largest homes in the U.S. are located in the Provo-Orem, Utah metropolitan statistical area." So there is a reason to live there.
Absent Californians Pay $40.7 Million in Cash for Empty NYC Apartment
A full-floor penthouse on the 23rd floor of the Walker Tower, a converted Art Deco skyscraper in Chelsea, sold for $40,730,000, the New York Times reports. The buyers are from California and will use the apartment as a pied-à-terre. They paid all-cash.
Rents Are Going Up, Suckas
For the first time since 2001, there are not enough rental units in America to meet demand. Can you guess what this means?
Here Is Vice Media's Salary Breakdown
Vice Media, now valued at two and a half billion dollars, made a ton of money this year. How much do its employees make? Here is Vice's most detailed information yet.
