Riverdale’s Solaria development offers news

Although I’m certainly on the Solaria’s blacklist after continually writing truthfully about the dismal auction of 54 condos last November, I nonetheless was the recipient today of an e-mail blast to real estate brokers.

With a photo of developer Joseph Korff in front of the sleek building in the Riverdale section of the Bronx, the press release proclaims: “SOLARIA IS FHA APPROVED.”  It goes on to say: Continue reading

U.S. homeownership rate dips below 2000 level

The Census Bureau reports that 2.7 percent of owners’ residences were vacant in the last quarter of 2009, while the national vacancy rate for rental housing was 10.7 percent.

For homeowner vacancies, the current rate was not statistically different from the fourth quarter 2008 rate of 2.9 percent or from the rate last quarter of 2.6 percent.

But the homeownership rate of  67.2 percent for the current quarter compares with 67.5 percent in 2000 and 66.9 percent in 1999. And it was lower than the previous quarter’s rate (67.6 percent). Continue reading