New York City's luxury housing market has, rather suddenly, hit the brakes. Crain's New York Business surveys the landscape.
"After three super-heated years, the market for the city's priciest new condominiums appears to be cooling off a bit," according to an article by Daniel Geiger.
Geiger cites the recent example of One57 as an example of the cooling trend in the high end, luxury market: "One57 joins an expanding list of properties where buyers are flinching at prices that, like some of the towers themselves, have reached unprecedented heights." In fact, "[the] growing crush of high-end projects has increasingly prompted buyers to thoroughly shop for their options."
The article blames plummeting oil prices, impacting buyers from Russia and the Middle East, as well as the sluggish Chinese economy for the slow market. Stephen Kliegerman, president of Halstead Property Development Marketing, is quoted in the article pinning much of the blame in a glut on supply.
FULL STORY: High-end condos hitting headwinds
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
Eviction Looms for Low-Income Tenants as Rent Debt Rises
Nonprofit housing operators across the country face almost $10 billion in rent debt.
Brightline West Breaks Ground
The high-speed rail line will link Las Vegas and the Los Angeles area.
Colorado Bans No-Fault Evictions
In most cases, landlords must provide a just cause for evicting tenants.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.