A daily tour around the web through the eyes of a NYC vertical dweller:
- From mortgage lending standards to college financial aid programs to the cruel April lashings of the Alternative Minimum Income Tax, New Yorkers never seem to get enough credit for the fact that the cost of living here is so much higher. Sadly, the latest Census Bureau data doesn't strip away those blinders, but it does show that we are not alone when it comes to feeling financially stretched, the Wall Street Journal reports. Over 41 million U.S. households face excessive housing costs, defined as costs that exceed 30% of pretax income. (WSJ)
- Broker-blogger Malcolm Carter examines how the lack of a view can affect the resale value of an apartment, and finds that “a grim exterior can be a heavy price to pay"--or a bargain for a buyer who values space you can use over that which you can only eyeball. (ServiceYouCanTrust)
- Apartment Therapy takes a look at the resurgence of metallic wallpaper, and tells us where to find it. One commenter notes “[m]y 90 year old grandma will be so glad to know that her two bathrooms and entryway are in style again. What about the mirrored walls in her dining room and her latch hook rugs?” (ApartmentTherapy)
- Before you call the demolition team to tear out those vile kitchen cabinets, take a deep breath and reconsider. CNNMoney asks “why gut it when you can repair it” and gives some tips on how to save on your renovation. Exhibit A: Spend $200-600 to have floor tiles repaired, vs $1,000-2,000 for a whole new floor. (CNNMoney)
- That StuyTown auction delay? It appears as though it may have been an effort to force the complex into bankruptcy, rather than having any auction. Why? To avoid paying sales transfer taxes. Apparently we're not the only ones who appreciate a good bargain. (WSJ)
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