NY Times: You Try to Live on 500K in This Town
To many people in many places, it is a princely sum to live on. But in the neighborhoods of New York City and its suburban enclaves where successful bankers live, half a million a year can go very fast.
Related from NY Times: Bailout Needs Some Strings Attached to Limit Pay
NY Times: A Site Chronicles Ways to Adapt in the Downturn — Two editors who were laid off from Condé Nast Portfolio have hitched their wagon to the downturn by starting up a Web site, Recessionwire.com.
Econbrowser: Will a Home Purchase Tax Credit Help Boost House Prices? — from Kash Mansori, senior economist for Jefferson Wells International: If my hunch is correct, then all the house purchase tax credit will do is to modestly increase the number of houses sold each month… with no noticeable impact on house prices.
Calculated Risk: Fed’s Yellen: Economic Outlook and Community Banks
NY Times: Wall Street’s New Pariah Status