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Three years later, commercial real estate started feeling the effects. [36] Denice A. Gierach, a real estate attorney and CPA, wrote: most of the commercial real estate loans were good loans destroyed by a really bad economy. In other words, the borrowers did not cause the loans to go bad, it was the economy. [37]
The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. [1]
In many regions a real estate bubble, it was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. [3] On December 30, 2008, the Case–Shiller home price index reported the largest price drop in its history. [4]
Under a system that exists in New York and almost nowhere else in the country, tenants are often forced to pay the commission of a real estate agent before moving into an apartment, even if that ...
Investors have punished the stock of commercial real estate lender New York Community Bancorp so far this month.To know why, it helps to understand the changing economics of a New York City staple ...
The agency problem can be intensified when an agent acts on behalf of multiple principals (see multiple principal problem). [ 6 ] [ 7 ] When multiple principals have to agree on the agent's objectives, they face a collective action problem in governance, as individual principals may lobby the agent or otherwise act in their individual interests ...
One example is a principal–agent approach (also called agency theory), where one party, called an agent, acts on behalf of another party, called the principal. However, a principal–agent problem can occur when there is a conflict of interest between the agent and principal. If the agent has more information about his or her actions or ...
421-a tax exemption, which promotes affordable housing in New York City by giving tax breaks to real-estate developers for building new multi-family residential housing buildings; OneNYC, the official strategic plan for development of NYC; San Francisco housing shortage; California housing shortage; Rent regulation in New York