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News

- NJ tries to set plan for commercial, residential development

The state of New Jersey has embarked on an ambitious new plan to promote economic growth, encourage residential development..

- LI market dances to its own tune

Long Island real estate is a complex, emotional and counter-intuitive game, the New York Times reported.

- Scaffolding collapses on 14th Street, 1212 Fifth Avenue is half sold

... and more

- Developers unveil plan to replace South Street Seaport mall

South Street Seaport leaseholder Howard Hughes Corp. unveiled plans to the local community board to replace the mall that currently sits on Pier 17 with a three-story glass retail building.

- U.S. mortgage applications fall for third straight week

U.S. mortgage applications fell for the third consecutive week, free-falling 11.7 percent on a seasonally adjusted basis for the week ending Nov. 25, according to weekly data from the Mortgage Bankers Association released today.

- NYC stalled construction sites down 8 percent year-over-year

The number of stalled construction sites in New York City dropped by 8 percent between October 2010 and October 2011. 

- Six charged in $25M Queens mortgage fraud

Six people were charged today with running a nine-year mortgage fraud scheme that took $25 million from financial institutions and mortgage lenders, Reuters reported. 

- The NYC rental market is different.

Digging deep into various reports on the state of the city’s housing stock we came away with some interesting statistics…  Many thanks to NYU’s Furman Center for Real Estate and Urban Policy for their exhaustive report on the NYC rental market.

- Health of Housing Recovery

U.S. housing prices haven't hit bottom and foreclosures will hamper economy for five years, experts say Paul Ballew, chief economist of Nationwide Mutual Insurance, accompanied attorney Adam Leitman Bailey on CNBC to diagnose the state of the housing recovery.

- City reveals plan for permanent redesign of Times Square plazas

Under the proposal for a permanent redesign of Times Square, the ground surface of the pedestrian plazas would be made from two tones of dark concrete pavers, leveling the surfaces across the space from 42nd to 47th streets to create a continuous pedestrian thoroughfare, DNAinfo reported.