Word: manhattans
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Dates: during 2000-2009
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Just keep in mind that real estate is still, to a great extent, a local phenomenon, and renters in some markets will benefit more than others depending on regional economics. Take, for example, Manhattan, the main borough of New York City, whose fate is largely aligned with finance firms. Following mass layoffs, the local apartment brokerage CitiHabitats has already seen a fall-off, with the average rent for a one-bedroom apartment dropping 2.5% in the last three months of 2008, compared with a year before. PPR's one-year forecast show rents dropping in 39 of its 54 markets...
What are the keys to a successful liquidation? Start with the signs. At the Circuit City near Manhattan's Lincoln Center, Fried, fresh off a nine-week job running clearance for a Mervyn's store in California, has plastered the storefront window with seven somewhat garish red and yellow posters: Store Closing Sale! Nothing Held Back! Entire Store on Sale! Inside, the discount stickers (30% off for furniture, mobile phone accessories, and cables, 20% off CDs and DVDs, 10% off everything else) and sale rules (no returns, no checks) are ubiquitous. "If we look obnoxious, we're doing our jobs...
...could owe as much as $130,000 in federal and state taxes for 2008, assuming his income last year was the same. On top of that, he will owe nearly $19,000 in property taxes on his 3½-bedroom home in Larchmont, N.Y. - an upscale suburb north of Manhattan - where he lives with his wife and two children...
...have to relocate because of your job, you can deduct a portion of your move. To qualify, your new commute would have to be 50 miles longer than it would be if you stayed in your current home. Since Geithner's place of work may be changing from lower Manhattan to Washington, he qualifies. And unlike the job-search deduction, moving expenses are not subject to the AMT. So don't go with one of those flat-fee moving services, Tim. On the basis of your current salary, taxpayers could pick up as much as 30% of your relocation costs...
...Cuban-born Toledo, who has been designing for 25 years and worked for a time at Anne Klein, is known in fashion circles as a "designer's designer" for her wit and whimsical sense of pattern, fit and fabric. The Manhattan-based designer also made the black tunic and palazzo pants that Obama wore to a fundraiser last June. But for her husband's swearing-in ceremony, Obama chose an elegantly sunny yellow, a color that for centuries has represented optimism. (See pictures of the fashion of Michelle Obama...