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Category Economy

Nixing the Mortgage Interest Deduction

Honestly, I can’t believe this topic is even being discussed right now, but it is. Since mid-summer I’ve been watching a flurry of articles go by debating whether or not to repeal the tax-deduction homeowners are allowed to take for interest paid on their mortgage. Traditionally thought of as a sacred cow, its now being […]

So Long, Island

On September 21st at 5 PM, the Town of Huntington will hold a public hearing to vote on whether or not to rezone a long vacant part of their town near the railroad station, to allow the construction of 490 housing units proposed by the large national builder, Avalon Bay. Currently the site is zoned […]

The Clock is Ticking on Long Island

This video was made by the Rauch Foundation, a local think tank based here in Garden City. The video speaks for itself. (This would be a good time to click play if you haven’t done so already). Here’s their mission statement for Long Island, right off their website: Our overarching goal on Long Island is […]

Shadow Inventory

Shadow Inventory (homes over 90 days past due plus homes in foreclosure). In December, First American estimated that at the then current sales rate, it would take about 3-1/2 months to run through the shadow. In May, Morgan Stanley said the shadow inventory of homes with delinquent mortgages yet to move through the foreclosure process […]

The North Will Rise Again

According to restructuring plans proposed this week, the UAW will have more than half the stock in Chrysler and a third of General Motors, meaning it will have tremendous influence, with the government, in determining the future of the companies. This scenario was the subject of a book by Jeremy Rifkin and Randy Barber written […]