Sometimes we have to take a break from the easy confines of the, well let’s face it, occasionally banal local news, and look to a citywide or even national story to focus on what is of utmost importance to many residents in Long Island City: Real Estate. Courtesy of the Wall Street Journal we get that story, and for further measure the New York Times provides another clue to answering the predominant question regarding real estate: Should I buy or continue renting? Heretofore, the former was not much of an option, as we have previously lamented numerous times including our update back in July “Dwindling” , about the dearth of condo availability in LIC. The big issue hampering supply, was the complete lack of financing available for large condo projects. But now, with this WSJ story, we may be seeing the very first signs of the logjam being eliminated. With interest rates so low, these loans are very attractive to commercial lenders, but nobody wanted to be the first. Fortunately greed has trumped fear for one bank, and my guess is the spigots are about to open for big condominium developments. Now the only question is, will the potential new condos be available in time for individuals to be able to lock in today’s ridiculously low mortgage rates?
Condo Loan Breaks Drought – “Build baby build!” (reminder: just type article title into google if it does not load properly)
Soaring Rents Drive A Boom In Apartments – I repeat: “Build baby build!”
Hotels Give Dutch Kills Roomy Reputation – give it to me three times!
Take A Ride On A Vintage Subway – a really cool throwback trip to Manhattan every Sunday until the end of the year, leaving out of LIC and all for the cost of a subway ride! Check out the schedule here.
Williamsburg To LIC Waterfront Bus Is Coming – can things get any better for us?
New Art Installation In Cool Old LIC Building – yes it can, we can get free art!
Hunters Point Ice Cream Shop Debuts Holiday Flavors – as if I didn’t have enough trouble choosing when I go into Malu, but finishing off the week on a sweet note