In New York City, Mayor Bloomberg talks about a possible glut of condo construction and revising a tax abatement plan that dates back to New York's financially troubled days in the 'seventies.
A textbook classic in the arena of unintended consequences. Oh, and greed.
Believe it or not, from the travel section of The New York Times: 36 hours in SoMa . There's a cursory mention of "gritty bars" but they don't name names. So you won't find the Hole in the Wall or Trannyshack, although they do poke gently at Supperclub to see if its real. Seems the Grey Lady is more interested in kayaking and penguins than not sleeping for 36 hours.
And the Times, having stumbled upon the nexus of real estate pornography and advertising dollars, devotes Sunday's Magazine to real estate. Linkage posted as available, but the paper version, at 200 pages, should keep you coming back for more.
· Bloomberg Deflates Condo Cushion [Matthew Schuerman, NY Observer]
· 36 Hours in SoMa [The New York Times]
· Supperclub [supperclub.nl]