Westchester

  • 11 Aug 2009 at 10:55 AM

Department of Housing and Urban Development Is Calling A Real-Estate Bottom

By Equity Private

westche.jpgThat’s the most obvious interpretation of the news that Westchester Country ($116,916 median household income to a New York and United States average of $51,001 and $61,117 according to the 2000 census) agreed to build a slew of “affordable housing” in a settlement with the Department of Justice and HUD over Westchester’s supposed failure to enforce fair housing laws.
The Wall Street Journal is calling it a shot across the bow of other counties (they mean the wealthy ones though) and in particular jurisdictions growing fat (or just barely failing to starve) off government teats.
There’s no reason at all, when you think about it, that you shouldn’t be able to move into your new place in Scarsdale right after for filing for unemployment.

But Mr. Sims said the lawsuit had made clear that “there was a significant amount of racial segregation” in Westchester. He said studies showed that zip codes could increasingly serve as a predictor of life expectancy and illness. “It’s time to remove zip codes as a factor in the quality of life in America,” he said.

Indeed.
Wealthy Suburbs Accept Low-Income Homes [The Wall Street Journal]

  • 03 Jun 2009 at 9:03 AM

Another Blow (Of The Sad Trombone) For Tim Geithner

By Bess Levin

Picture 1463.pngApparently our elfin’ Treasury Secretary was not successful in his quest to get someone to buy his Larchmont-area Tudor, even after dropping the asking price from $1.635 million to $1.575 million (he and wife Carole paid $1.602 million for the place in 2004). And now he’s reportedly renting it out, by the hour. No, just we haven’t reached seedy hotel-status just yet (god, that would be great though, wouldn’t it?). T. Geith is, however, pimping it for the price of $7,500/month, which the AP helpfully points out is probably less than the li’l fella’s mortgage payments. For those of you interested in a short-term stay in a piece of history, we suggest familiarizing yourself with the space at this time which, now that it’s being rented, presumably comes with the owner’s nightmare inducing decor.

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