Great moments in real estate

Been meaning to post this for a while. These are neighboring buildings at the intersection of Smith St and Atlantic Av in Brooklyn (40 41’19.2″ N, 73 59’21.6″ W, says the iPhone). The building on the left is a “luxury” high-rise, advertising “prime retail” on the ground floor. The building on the right is a city jail. It was out of use from 2003 to 2008, but the city is gradually filling it up again. One can’t say the same of the condo, which is all empty. It’s one of the disastrous… Read More

Radio commentary, March 13, 2010

Recovery watch In a business cycle update, the grinding slog of a recovery continues. Last week, we learned that the job market looked got a little less bad in February than it was getting for most of 2009. On Friday, we learned that the retail sector had a not-bad February. Broad composite measures of the state of the U.S. economy, like the Conference Board’s Coincident Index and the Chicago Fed’s National Activity Index (CFNAI), are basically getting back to the zero line after deep collapses. Most measures, however, are behaving rather weakly… Read More