More Parents Buying Apartments for Their Children

This is an amazing story, a testament to Americans' financial resilience amid the Obama Depression.

At New York Times, "The Gift Apartment From Mom and Dad":

FOR some parents, an engraved pen set just won’t cut it as a graduation present. It seems so insubstantial, so unoriginal. Anyway, the kid will just lose it. So how about a New York apartment?

Real estate brokers say that in the last year, they have seen more parents shopping for apartments for their grown children, hoping to take advantage of low mortgage rates and apartment prices that are still about 20 percent down from the market’s peak.

“I got a digital watch for graduation,” said Barry Silverman, an executive vice president of Halstead Property, “but I’ve worked with families where the children are getting an apartment.”

These congratulatory apartments are often studios or small one-bedrooms, but on occasion they are bigger-ticket items, he said, because “the parents see it as a long-term investment and a good place to park their money.”

In many cases, brokers say, the parents do not live in the New York area and view the apartment as a potential pied-à-terre for themselves when the child decides to move on. Some buy it as a straight-out gift, a gesture of profound affection sweetened by the current generous tax exclusion. Others buy it as an investment and retain ownership, and still others acquire it through a family trust for joint ownership.

These purchases raise a number of financial and estate planning questions, and lawyers and building managers advise parents to structure the arrangement carefully.

That's for sure. Check that link at top for the rest.

Anthony Weiner Resigns

And Emperor Obama to follow?

Commentary at Legal Insurrection and The Other McCain.

Also, at New York Times, "Weiner’s Wife May Not Be Joining Him."

And New York Post, "Weiner Pulls Out."

'Room for Debate' — Can Weiner Survive?

That's survive electorally. Whether his marriage survives is another question.

At New York Times, "Can the Democrats Keep Weiner's Seat?" An interesting panel of debaters, but I like Kay Hymowitz, "Parochial, Not Puritanical":

Will the people of New York’s Ninth District give their disgraced Congressman, Anthony Wiener, the boot? On the face of it, it seems they will – and hard. The bizarrely shaped district, designed to facilitate the election of black leaders in an adjacent area, is largely white and ethnic: Italians, Irish, and Jews, not Upper West Side Jews mind you, but Orthodox and Russian immigrant Jews.

In fact, the Ninth seems to be among the last of 20th century ethnic enclaves in the outer boroughs. And as everyone knows, that crowd tends to be socially conservative, anti-abortion, anti-same sex marriage, and, it would follow, more unforgiving of philanderers.

On closer inspection, however, a culture war-inspired ouster of the besieged Congressman seems unlikely. Yes, the district has trended more Republican in presidential races in the past decade, but that has more to do with 9/11 than with hot button social issues. The Irish of Breezy Point and the Rockaways like Weiner because of his support for the first responders; the Jews of Ocean Parkway are on his side because of his enthusiasm for Israel, which also explains why Chuck Schumer, no virtuecrat, retains a strong standing among his Orthodox constituents.

Remember also: white ethnics are no longer so predictably seeped in family values. A 2010 report from the National Marriage Project found a dramatic rise in single motherhood, cohabitation and divorce among the working class, which presumably would include many of Weiner's constituents.

And then there’s this: for Weiner to lose, someone has to win. But in the Ninth District, as in New York City as a whole, interests are parochial -- and the Republican Party, weak as a kitten.

Yep. His constituents may be forgiving, although there's still a campaign next year. See ABC News, "Anthony Weiner: Poll Finds Majority of New York Voters Think He Should Not Resign."

The French Are Mad — Mad! — at the Arrest of Socialist Dominique Strauss-Kahn on Sexual Assault Charges

At New York Times, "As Case Unfolds, France Speculates and Steams."

PARIS — France’s shock at the arrest of Dominique Strauss-Kahn on sexual assault charges has turned among some to suspicion and anger, with his defenders questioning the initial New York police account and speculating about entrapment, and many others characterizing the photos of the handcuffed suspect as insulting and unfair.

Mr. Strauss-Kahn, 62, was arrested on charges of attempted rape and illegal imprisonment of a chambermaid in a French-owned hotel in Midtown Manhattan, the Sofitel, and was arraigned on Monday in New York.

The charges against a man thought to have had the best chance of becoming France’s next president in elections only a year away, and who is the prominent managing director of the International Monetary Fund, have exploded most political assumptions here.

Poor dears.

Actually, I'm with Judge Melissa Jackson on this, as she remarked when denying Strauss-Kahn's defense attorneys' request for bail: “When I hear that your client was at J.F.K. Airport about to board a flight” ... “that raises some concern.”

Well, yeah.

See also Matt Welch, "BHL: France's National Disgrace" (on Bernard Henri-Levy, via Althouse).

Rise of Freedom: 9/11 Memorial to Display the Victims' Names

At Fox News: