The Times columnist, Princeton professor, recent Nobel winner, and all-around ceaselessly smart economist Paul Krugman has a nice new NYC co-op. According to a deed filed in city records. Mr. Krugman and his wife, economist and yoga teacher Robin Wells, spent $1.7 million on a three-bedroom Riverside Drive apartment earlier this month.
“We really wanted [...]

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The Federal Reserve, in it’s most recent “Beige Book” said residential real estate markets in most districts remained weak.
The following is from the latest Beige Book report regarding New England real estate.
Residential real estate markets in New England remained sluggish in May and into June, although contacts cite some positive signs. Massachusetts and Connecticut saw [...]

Zillow claims the housing market is getting worse. Zip Realty thinks the numbers show that the housing market is getting better.
Declining number of home listings in July is evidence that the U.S. housing market continues to stabilize according to ZipRealty.
The U.S. housing market continues to show signs of stabilization with the fifteenth consecutive month-over-month [...]

Zillow: Underwater Mortgages May Reach 30%
Housing bottoming? Things improving? Worst behind us?
Well, not exactly.
According to a recent Zillow study, the combination of unsold, vacant homes and underwater mortgages will likely pressure the markets further.
Bloomberg:
“Almost one-quarter of U.S. mortgage holders owed more than their homes were worth in the second quarter and that figure may rise [...]

The Massachusetts Appeals Court ruled yesterday that while it is true nobody owns an on-street parking space, the potential loss of such spaces to residents of new developments gives nearby residents standing to sue to block the projects.
The ruling comes in complicated legal tussling over a condo building at 224-226 Hurley St. in Cambridge, which [...]