TURK Fatih Tutak, Turkey
Acclaimed Turkish chef Fatih Tutak, who has worked everywhere from Copenhagen to Hong Kong, is returning to his roots by opening his first restaurant in Istanbul.
By working closely with Turkish fishermen, farmers and artisanal producers, Tutak promises to celebrate his country’s diversity of produce.
Served in a modern, light-filled setting, the food here merges the chef’s extensive travels and overseas experience with historic Turkish techniques to reinterpret traditional flavors.
This means multi-layered dishes that include bulgur wheat with miso, veal, and radish, or a main of duck with sour cherries and chestnuts. Desserts on offer include a “snow'” of lemon verbena and persimmon, while all the wines served are Turkish.
TURK Fatih Tutak, Now Bomonti, Cumhuriyet Mahallesi, Silahşör Caddesi, Yeniyol 1. Sokak No:2 Bomonti-Şişli; +90 (212) 709 56 79
The Mayfair Supper Club, Las Vegas
Vegas is arguably one of the best dining destinations in the US thanks to its seemingly unstoppable wave of restaurants led by domestic and international celebrity chefs.
Open since New Year’s Eve, The Mayfair Supper Club, a new spot on the Strip at The Bellagio, promises to add to the culinary landscape, while throwing in some old school glamour.
The roaring twenties provide the inspiration for the spot’s live entertainment, which features throughout dinner before a late-night jazz party — all played out against the famed Bellagio Fountains.
As for the menu, many dishes are prepared tableside, while the Wagyu and caviar handroll topped with gold leaf is one for the high-rollers.
The Mayfair Supper Club, Bellagio Resort & Casino, 3600 Las Vegas Blvd S, Las Vegas, NV 89109; +1 (702) 693-8865
Cheval Blanc Paris
Even though it’s not set to open for at least a few months, this upcoming restaurant from three Michelin-starred chef Arnaud Donckele already has Parisian fine dining lovers excited.
The location is the super-luxurious Cheval Blanc Paris on the banks of the Seine, adjacent to the famed Louvre Museum.
Donckele promises to both celebrate and pay tribute to the “City of Light,” as the vast majority of the seasonal ingredients used will come from in and around the French capital.
Given his stellar reputation, Donckele’s gastronomic creations are sure to be feasts for the eyes as much as the stomach, with artfully-crafted and flawless presentation at every course.
Cheval Blanc Paris, 8 quai du Louvre, 75001 Paris, France; +33 (0)1 40 28 00 00
HENRY, Hong Kong
Based in Hong Kong, this new American grill and smokehouse channels the southern states of the US with a menu overseen by British Chef de Cuisine Nathan Green.
The meat specialist comes with critical and public acclaim from a number of restaurants in both Hong Kong and London, all of which have celebrated charcoal grilling, meat-curing, and butchery.
His menu at HENRY’s continues in this fashion, with choices such as American Black Angus aged for 90 days in Woodford Reserve Bourbon and ash or a Becker Lane Farm Pork Chop served with heirloom carrots and pickled mustard seeds.
Homemade sauces — 5-pepper & bourbon or tomatillo & ancho — really pack a punch.
Southern-style dishes run from snacks and starters through to soups and sides, while desserts sound suitably sinful.
On the design front, diners can expect leather banquettes and polished brass for a nightclub feel, while the marble bar leads to a terrace for cocktails, fine wines or cigars.
HENRY, Rosewood Hong Kong, Victoria Dockside, 18 Salisbury Road. Tsim Sha Tsui, Kowloon, Hong Kong; +852 3891 8888
Are you waiting for house prices to drop during the next recession? Why you could have a very a long wait
The last recession was caused in part by a downturn in the housing market
It’s unclear when the next recession will come. But a recent report argues that when it does the U.S. housing market is unlikely to adversely affected in any major way.
Researchers at First American Financial Services FAF, -1.28%, a title insurance company, examined how the country’s housing market has fared historically during recessionary periods. Based on what’s happened in past recessions, the report argues that the next recession is unlikely to prompt a major downturn in housing.
“While the housing crisis is still fresh on the minds of many, and was the catalyst of the Great Recession, the U.S. housing market has weathered all other recessions since 1980,” wrote Odeta Kushi, deputy chief economist at First American and the report’s author. “In fact, the housing market may actually aid the economy in recovering from the next recession — a role it has traditionally played in previous economic recoveries.”
Using its own data along with information from Freddie Mac FMCC, -0.47% and the National Association of Realtors, the report maps out how the housing market has traditionally fared in economic downturns. In most other cases, home price appreciation continued at an even pace, and existing-home sales growth only edged downward slightly, Kushi wrote.
So what made the Great Recession different? The housing boom that preceded the last recession was largely driven by an explosion in both home-building activity and mortgage credit. Home buyers were able to get mortgages with no documentation of their income and no down payment, and many loans had introductory 0% interest periods that made them cheap to start but more expensive as time wore on.
These homeowners were over-leveraged. “The housing crisis in the Great Recession was fueled heavily by the fact that job loss was paired with a significant share of homeowners who didn’t have much equity in their homes,” Kushi wrote.
And because developers constructed so many homes, their home values quickly sank when the bubble burst, exacerbating the situation further.
The growth in home prices seen during the current economic expansion has not been fueled by increased access to mortgage credit. Rather, it’s a simple reflection of supply and demand: Many Americans want to become homeowners, but the supply of homes available for sale is very low, pushing prices upward.
While this has made the prospect of buying a home unaffordable for millions of Americans, it has also meant that those who are homeowners have seen their home equity grow substantially in recent years. That decreases the likelihood that they would be underwater on their loan if home prices were to dip in a recession.
“Were we to have a recession, I’d argue housing would provide a cushion because the shortage of supply at the entry-level suggests builders could actually continue to build,” Doug Duncan, Fannie Mae’s chief economist FNMA, +0.07%, told MarketWatch in December.
There still are red flags that homeowners should be on the lookout for when it comes to how a potential recession might affect the housing market. For starters, many Americans have taken out cash-out refinance mortgages on their homes as their home values have grown. That’s whittled away the equity these people have in their property, leaving them more vulnerable to owing more than their home was worth in the potential event the home prices drop.
Another issue: Many Americans who fell behind on loan payments and modified their mortgages in the wake of the recession to avoid foreclosure have since redefaulted. Were these people to lose their jobs in a recession, they could easily fall into foreclosure. Research has shown that foreclosures exacerbate economic downturns — and they can have a ripple effect through a local market, causing other homes to drop in value.
And at the local level, certain local housing markets could prove more resilient in the event of recession, depending on the strength of the local economy relative to what’s going on at a national level.
Hotel Hacks for Your Next Trip That Are Borderline Genius
If you’re planning an upcoming business trip or vacation, then feast your eyes on this collection of brilliant hotel hacks that every traveler should know. You may be shocked to learn how well these simple, effective tips work to make your next hotel stay more comfortable and stress-free.
Whether you’re traveling solo or with the entire family, there are plenty of great tips for your situation. Read on to rest easy, knowing you’re prepared to work your way around all the common hassles that tend to plague hotel guests everywhere.
Pics Of Meghan The Royals Wanted To Keep Private
It’s rare to see a magazine in a store these days that doesn’t have Meghan Markle’s face all over it. Everyone wants to know what the new Duchess of Sussex is doing – and what she’s wearing, and what she’s eating, etc. But while everyone knows who she is now, they may not be aware of who she was before she met her (literal) Prince charming. She’s got an interesting background for someone in the British royal family, that’s for sure.
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