I did a live segment on Bloomberg TV talking about the mix of Wall Street bonuses as they relate to the Manhattan housing market, as well as the state of housing in general. I was interviewed by Deirdre Bolton, who always does a great job.
The basic premise was – incomes are down, layoffs continue and recession has no short term end in sight, is it therefore reasonable to anticipate weaker price trends in the near term?
Admittedly, it’s tough to get up at 4:15am to do a 6:40am segment but Deirdre has to get up at 2am so I have no right to complain.
Plus, I was able to snag some free Fig Newtons in their cafeteria. Funny thing was that as I was waiting in the green room to go on, I thought about the fact it was St. Patrick’s Day and I didn’t wear green and the Bloomberg green room was actually red and pink. In fact, I have never been in a green room that was green. Go figure.
View this morning’s clip here. If there are problems with the streaming feed, view here.
Tags: Wall Street Bonus, Television
No doubt lack of employment impacts income, but I have wondered if a significant part of this problem ab initio is that incomes, and GDP for that matter, were not nearly what they were reported to be. We know that is true for stated income or liar loans, but I have to wonder if the income average or median shows the real deal. I suspect more and more people are bringing home less and less while a significant few are getting more and more.
Is there a measure anywhere that factually shows who is and how many of the who are getting what income?
Dead sexy, my Irish-hating friend. Dead sexy.