Monthly Archives: January 2015

Housing Share of GDP at 15.2% for Third Quarter | Waccabuc Real Estate

Economic growth in the third quarter was certainly good news for housing and the overall economy. The final estimate of GDP growth from the BEA was a 5% seasonally adjusted annual growth rate, up from 3.5% and 3.9% in the first and second estimates respectively.

As of the third quarter of 2014, housing’s share of gross domestic product (GDP) was 15.24%, with home building and remodeling yielding 3.08 percentage points of that total.

Housing-related activities contribute to GDP in two basic ways.

The first is through residential fixed investment (RFI). RFI is effectively the measure of the home building and remodeling contribution to GDP. It includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes and brokers’ fees. For the second quarter, RFI was 3.08% of the economy.

The RFI component reached a $500 billion annualized pace during the second quarter. This is the second highest quarterly total for RFI since the middle of 2008.

The second impact of housing on GDP is the measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units) and utility payments. The inclusion of owners’ imputed rent is necessary from a national income accounting approach because without this measure increases in homeownership would result in declines for GDP. For the second quarter, housing services was 12.16% of the economy.

Historically, RFI has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle.

Gorgeous Brooklyn Heights Townhouse Wants $7.2 Million | Cross River Real Estate

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First up is this beautiful brick townhouse in Brooklyn Heights. The house was built in 1849 and there’s a ton of historic details, plus an elevator, 12′ ceilings, and bay windows overlooking a garden designed by landscape architect Alice Ireys. The place is 25′-wide and has around 6,500 square feet of living space. It’s asking $7.2 million.

↑ Over in Williamsburg, this three-story townhouse is asking $4.3 million. The place was built in 1890 and was gut-renovated 13 years ago. It’s currently configured for multiple families but it can be converted into a single-family home quite easily.

↑ This four-unit, two-story investment property in Weeksville is asking $1.495 million. The place is fully-rented and offers an income of $8,400/month. It has a two-car garage, separate boilers, hardwood flooring, and a coin operated laundry.

Your January Home Checklist | Katonah Real Estate

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With the shortest days (and longest nights) of the year, midwinter can certainly live up to its bleak reputation— but this season also encourages slowing down, simplifying and getting cozy. This January, take advantage of the momentum a new year brings to clear out clutter, start a healthy habit and make plans for the year ahead. Here are 15 ideas for a refreshed and revived home.

The Room Illuminated

1. Do the postholiday cleanup. Pack up holiday decorations carefully for next year and give your living space a thorough cleaning to pick up stray pine needles. Break down cardboard boxes, gather wrapping materials to recycle and find homes for holiday gifts.

2. Buy flowers and light candles. Boost spirits on short winter days by lighting candles (real or battery powered), and indulge in cut flowers from the market or a new potted houseplant to freshen the air.

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3. Create space to get some exercise indoors.Especially if winters are cold where you live, making a workout zone in the house can be a great help in staying healthy when you can’t get outside. Even a corner of a room cleared of furniture can be enough space for rolling out a yoga mat or working out with weights.

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4. Give your command center a reboot. The spot where you drop items as you walk in the door can be a clutter magnet. Make a fresh start for the new year by clearing away the paper, old pens, rubber bands and other random items that have migrated into your command center. Clean the surface, remove old notices from the bulletin board and put up a new calendar.

Space Grace & Style

5. Sharpen knives. Cooking with sharp knives cuts down on prep time and is safer, too. Take your kitchen knives to a pro to be sharpened, and maintain them between sharpening sessions with a honing tool at home.

6. Give your kitchen a healthy makeover. Making a resolution to eat more healthfully? Start by clearing those less-healthy options out of your pantry and fridge. Place fresh fruits and vegetables front and center, and put healthy-food prep aids, like a juicer or blender, on the counter where you are more likely to use them.

Nanette Wong

7. Check smoke and carbon monoxide detectors. With more heater use and wood fires in the fireplace, and less opening of windows, winter is an especially important time to make sure those smoke and carbon monoxide detectors are working. Use the test button on each device and change batteries as needed.

8. Clear clutter responsibly. If you are doing a new year’s purge of unwanted items, keep things out of the landfill and help others by donating gently used items to a good cause. For other items be sure to recycle responsibly — try the Earth 911 recycle search to find a recycling center that accepts electronics, paint, clothing and more in your area.