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A Tale of Three Cities

Wednesday, March 21, 2007

An NBR Series - PREMIERES Monday, March 19th

A special series examining the housing market in three different regions.

Home sales are down. Subprime loans are being defaulted. The U.S. housing market is in decline. However, this broad picture of a housing slump masks the variations that exist in geographic regions. In "A Tale of Three Cities," a team of NBR correspondents examines these variations with reports focused on the housing markets in New York, Washington, D.C., and South Florida. A Tale of Three Cities Title Graphic
Discuss "A Tale of Three Cities" on XChange - The NBR Blog
Click to Explore Part 1.
Click to Explore Part 2.
Click to Explore Part 3.
The "A Tale of Three Cities" Reports:
Region 1: New York City
  • Premieres Monday, March 19, 2007
  • NBR Correspondent Suzanne Pratt reports on the housing market in America's financial capital. This market experienced a slowdown, but seems to be warming up again. Yet, experts say obstacles could keep the market from returning to a boom phase.
    Click to Read Transcript.

    Image of New York City sidewalk and apartments. Click to Watch Part 1.Watch Part 1

     

    Learn More About This Topic:

    • Brown Harris Stevens
      Brown Harris Stevens is a "full service real estate firm serving both residential and commercial markets in New York City." The company focuses on luxury real estate. Suzanne Pratt featured the website in her report.
    • City of New York
      This links to the website of the City of New York's Department of Housing Preservation & Development. The site offers a variety of data about the city's housing market, including vacancy rates and advice for homebuyers.
    • Miller Samuel
      Miller Samuel is a residential real estate appraisal firm focused on the Manhattan market. The company's president, Jonathan Miller is interviewed in Suzanne Pratt's report.
    • New York State Association of Realtors (NYSAR)
      NYSAR "is a not-for-profit trade organization representing more than 64,000 of New York State's real estate professionals." The association's website offers statistics about the state's housing market.
    • Nouriel Roubini's Global Economics Blog
      Nouriel Roubini is a professor of economics at New York University. He also runs RGE Monitor, a website dedicated to analysis of macro economics. One of the site's features is Roubini's blog. This links to a blog entry titled, "The Ten Faulty Consensus Views about Sub-prime and Soft-Landing…and the Ten Ugly Truths about the Coming Economic and Financial Hard Landing."
    • Prudential Douglas Elliman
      Prudential Douglas Elliman is a real estate firm that serves New York City and Long Island. Suzanne Pratt interviews Ann Cutbill Lenane, one of Prudential Douglass Elliman's brokers, in her report.
    • U.S. Department of Housing and Urban Development (HUD)
      HUD's website offers information for current and potential homeowners, including tips for home buyers and sellers. The site also offers news on the U.S. housing market.
    • *Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.

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    Region 2: Washington D.C.
  • Premieres Tuesday, March 20, 2007
  • NBR Correspondent Stephanie Dhue reports on the housing market in America's political capital. While there is a build-up of homes for sale and prices are under pressure, the presence of a stable employer -- the U.S. government -- means this region's market is still churning.
    Click to Read Transcript.

    Image of row homes in Washington, D.C. Click to watch Part 2.Watch Part 2

     

    Learn More About This Topic:

    • Center for Regional Analysis (CRA) at George Mason University
      The CRA "conducts research and analytical studies on economic, fiscal, demographic, and social and policy issues related to the current and future growth of the Virginia, Maryland, and DC areas." The center's director, Steven Fuller, is interviewed in Stephanie Dhue's report.
    • Center for Responsible Lending
      The Center for Responsible Lending is a "nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices." This links to a Center for Responsible Lending report titled, "Losing Ground: Foreclosures in the Subprime Market and Their Cost to Homeowners."
    • Dominion Valley
      Dominion Valley is a Toll Brothers community in Western Prince William County, Virigina. It is profiled in Stephanie Dhue's report.
    • Greater Washington Initiative (GWI)
      GWI is a regional cooperative marketing organization that promotes the Greater Washington region. The site includes statistics about the region's cities and economic development initiatives.
    • Knowledge@Wharton
      Knowledge@Wharton is the online journal of the Wharton School of Business at the University of Pennsylvania. This links to a Februrary 21, 2007 article titled, "Could Tremors in the Subprime Mortgage Market be the First Signs of an Earthquake?"
    • National Association of Home Builders (NAHB)
      NAHB is a trade association representing home builders and the housing industry. This links to the NAHB's "Housing Forecast," which includes current housing statistics as well as a long-term forecast for the industry that looks forward to 2015.
    • Prince William County, Virginia
      Prince William County, along with Loudoun County, grew rapidly during the recent housing boom. As Stephanie Dhue reports, real estate prices in both counties are now under pressure.
    • Toll Brothers
      Toll Brothers is a national luxury home builder. Stephanie Dhue interviews John Elcano, VP of Toll Brothers, in her report.
    • Washington, District of Columbia
      This links to information the District of Columbia offers about homeownership, including a homes database and neighborhood profiles.
    • *Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.

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    Region 3: Miami
  • Premieres Wednesday, March 21, 2007
    NBR Correspondent Jeff Yastine reports on the housing market in America's fun and sun capital, where real estate experts have their eyes on an excess inventory of condominiums.
    Click to Read Transcript.

    Image of Miami skyline. Click to watch Part 3.Watch Part 3

     

    Learn More About This Topic:

    • Bergstrom Center for Real Estate Studies
      The Bergstrom Center is located at the University of Florida. This links to a the center's "Survey of Emerging Market Conditions" in the first quarter of 2007. The survey offers detailed real estate statistics for many Florida counties, including those in the South Florida region that Jeff Yastine profiles.
    • Florida Association of Realtors (FAR)
      FAR is a trade association representing Florida realators. It has more than 170,000 members. The association's website includes housing market indicators and other news.
    • Goodkin Consulting
      Goodkin is a consulting firm focused on the real estate and financial industries. Jeff Yastine interviews Jack Winston, a senior consultant with Goodkin, in his report.
    • HUD User
      This website is maintained by the U.S. Department of Housing and Urban Development's Office of Policy Development and Research. It focuses on housing market data and studies. This links to a page titled, "Comprehensive Housing Market Analysis."
    • McCabe Research & Consulting
      McCabe Research & Consulting is a South Florida based firm that specializes in "analysis, consulting services, and macro/micro research of multifamily residential and commercial mixed use projects." The company's CEO, Jack McCabe, is interviewed in Jeff Yastine's report.
    • Miami-Dade County Property Appraiser
      The Miami-Dade Property Appraiser's website allows you to research property values in the county and to estimate taxes on specific properties.
    • National Association of Realtors (NAR)
      NAR is a trade organization representing real estate agents. This links to the "Research" section of the NAR website, which offers data on the housing market.
    • *Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.

      Click to Return to Top of page.

     

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