Data from Douglas Elliman's 4Q 2016 New York real estate report brings some unwelcome news for the city's hedgies and I-bankers with median pricing and sales volume crashing while apartments sit vacant on the market for longer and longer.
While we should take notice at the government preparations for disaster (and the possibility of a cataclysmic collision with damaging objects in space), we should perhaps take more notice at what they are preparing for with all the billions of dollars thrown at defense and survival, it comes in secretive infrastructure for a reclusive sect of power, and in top-down plans to contain the unrest.
The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.
The stock market has been on quite a roll in recent weeks, but signs of trouble continue to plague the real economy. Even though economic conditions appeared fairly stable throughout 2016, our long-term problems just continued to get even worse. So the truth is that we are more primed for a major crisis today than we have been at any point since the last recession.
Less than two weeks after stepping down as U.N. Secretary-General, a move many interpreted as an indication of his intention to run for the Presidency of South Korea, two of Ban Ki-Moon's relatives have been indicted in the U.S. on charges of bribery.
With record low interest rates, stretched out financing terms and an insatiable wall street demand for subprime auto securitizations all teaming up to drive record-high auto sales, Cadillac seems to think there is little room for incremental upside in their traditional auto sales/leasing business so they've decided to pursue an alternative business strategy whereby they just sell cars to themselves instead.
"What we see is circumventing the process that’s in place. I think we will likely look at language on preemption so that the state is making decisions where it ought to, and cities and counties are making decisions where they should."
"Today, New York City requires Uber and other companies to hand over a lot of sensitive personal passenger data, including where you're picked up on every trip. Now, New York City wants more. They're trying to force companies to tell them where you’re dropped off, as well."
"Maybe we’re heading out of the period when there was no shame in overpricing your home. We’re moving away from that and into something more pragmatic: Do you want to actually sell your property or do you want to pretend? A lot of sellers remained unrealistic throughout the year, and that killed a lot of deals."