On July 31, 2019 Hallmark Abstract Service published the article, ‘Are there any winners in the NYC multifamily marketplace?‘, providing some background into the parameters of the new law and potential impact that the Housing Stability and Tenant Protection Act of 2019 could have. This impact would be on a variety of stakeholders including multifamily building owners […]
Well maybe not #1, but some in Albany seem to feel that the title insurance industry in New York is solely comprised of the proverbial snake oil salesman who will do and say anything to get business! For the New York State Department of Financial Services, the operative word in the prior sentence is ‘do‘ […]
(Article originally appeared at LinkedIn here) Our two political parties in Washington could not look out the window, check the sky, and then agree with each other about whether it’s raining or bright sunshine! That fact is particularly true for the four in the photo at the top of the page. And yet, Pelosi, Schumer, […]
Tax Reform, Tax Cuts, Boon for the Middle Class and Tax Breaks for the Rich are but some of the names being applied to describe the tax legislation Congress is currently debating! The potential to rescind the state and local tax deduction, or SALT as it is commonly known, has many New Yorkers and residents of the other […]
The good news? The proposed budget-balancing Nassau County fee increases to record real estate transaction documents and mortgage refinancing documents were voted down by the County Legislature! While the increased revenue from these very unpopular fees are much needed to balance Nassau County’s budget, to vote them in would not have been the politically expedient thing to […]
Both Republican and Democratic Party legislators in New York’s Nassau County have filed bills opposing the egregious proposed real estate fee hikes designed to fill deficit holes in the 2018 County budget! Of course, in the current political environment, rather than consensus for where the lost revenue might be made-up were these proposed increases not […]
If not, should you be? The term activist when describing an individual, or activism when describing a group of activists focused on a specific issue, conjures up a variety of mental images! And of course the intensity and ferocity of the images will typically vary depending on the scope of the issue and the emotions […]
Note: Rereading this nonpartisan commentary after it was done I questioned whether it had any place being published in a business venue. However, as all businesses are subject to the impact of both the consequences and unintended consequences that the decisions out of Washington (and our states) create, I determined that it was. Throw All […]
Anti-money Laundering GTO extended for 180 days The Financial Crimes Enforcement Network (FinCEN) of the US Treasury has extended the Geographic Targeting Order (GTO), set to expire tomorrow Feb 24. The new GTO is identical to the current order and will not expand the cities or the dollar thresholds. Borough of Manhattan, N.Y.; $3 million […]
Government Bonds And Consumer Debt Levels Soar While Bailouts Remain The Norm! This is an excellent read from an article at City Journal! These are some of the general takeaways… Some Key Points: ‘Bailouts remain the norm worldwide’ ‘In 2008, the world’s major central banks held little more than $6 trillion in assets, according […]
