On almost any night of the week, Churchill's Restaurant is hopping. The 10-year-old hot spot in Rockville Centre, Long Island, is packed with locals drinking beer and eating burgers, with some customers spilling over onto the street. "We have lots of regulars—people who are recognized when they come in," says co-owner Kevin Culhane. In fact, regulars make up more than 80 percent of the restaurant's customers. "People feel comfortable and safe here," Culhane says. "This is their place." read more »
During the first ten days of October 2008, the Dow Jones dropped 2,399.47 points, losing trillions of investor equity. The Federal Government pushed TARP, a $700 billion bail-out, through Congress to rescue the beleaguered financial institutions. The collapse of the financial system was likened to an earthquake. In reality, what happened was more like a shift of tectonic plates.
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The economy might come back – but will the housing market return? And in what form?
Right now, builders are jumping into the low end of the market because of the $8,000 first time home buyer tax credit. This tax credit cannot survive indefinitely. Compared to homes sold in 2006, today's are bare bones in size, materials and finishes in response to current, temporary market conditions. But the scrimping only makes the homes built in yesterday’s developments more attractive to potential buyers. The next wave of home buyers will have a choice: stay where they are, move to a more recently built (devalued) home, or buy new. read more »
It was more than 45 years ago that Dr. Martin Luther King, Jr. enunciated his “Dream” to a huge throng on the Capitol Mall. There is no doubt that substantial progress toward ethnic equality has been achieved since that time, even to the point of having elected a Black US President.
The Minority Home Ownership Gap: But there is some way to go. Home ownership represents the core of the “American Dream” that was certainly a part of Dr. King’s vision. Yet, there remain significant gap in homeownership by ethnicity. read more »
The High Desert region north and east of Los Angeles sits 3,000 feet above sea level. A rough, often starkly beautiful region of scrubby trees, wide vistas and brooding brown mountains, the region seems like a perfect setting for an old Western shoot 'em up.
Today, it's the stage for a different kind of battle, one that involves a struggle over preserving the American dream. For years, the towns of the High Desert--places like Victorville, Adelanto, Hesperia, Barstow and Apple Valley--have lured thousands of working- and middle-class Californians looking for affordable homes. read more »
Nobody likes the taste of “cookie cutter” development. In the forty years that I’ve been in the land planning industry, at meeting after meeting I hear planning commissioners and city council members complain about the same thing: That developers submit the same recipes to cook up bland subdivisions over and over.
But while the developers are the scapegoat, it’s those who sit on the council and planning commissions that are as much, if not more to blame. They are also the ones with the power to change the status quo. read more »
By Richard Reep
Regarding Florida’s new outmigration, “A lot of people are glad the merry-go-round has finally stopped. It was exhausting trying to keep up with 900 new people a day. Really, there is now some breathing room,” stated Carol Westmorland, Executive Director of the Florida Redevelopment Association at the Florida League of Cities. Now that surf and sand are officially unpopular, the urban vs. suburban development debate has caught developers and legislators in a freeze frame of ugly and embarrassing poses at local, regional, and state levels. read more »
In mid August, as we were beginning to feel a pulse in the nation’s housing market, an academician and housing expert from the University of Pennsylvania named Thomas J. Sugrue wrote an article in the Wall Street Journal proposing that, for many people, the new American Dream should be renting. read more »
With the home building industry in peril, you would think that legislators would come up with immediate solutions to help foster new home construction. And there are now two well known Federal programs regarding housing: one is the $8,000 tax credit for first time home buyers, and the other is the 30% energy tax credit for a select few components of home remodeling. read more »
During the long hot summer of the expenses scandal in British politics, one of the most bizarre stories concerned a Conservative MP who claimed from the public purse for a second home: a place for his ducks. It wasn’t any old duck house, however, but a ‘Stockholm’ floating model, valued at over £1,500. It is over 5 feet high. read more »