Friday Links

Oh, my god --- Can Barbara Corcoran be sued for this:

Q. I own a two-family home in Queens and would like to buy an investment property. My husband is against it, though, because we only have $20,000 saved up. If my husband is right, how else can I invest the money?

A. I disagree with that handsome husband of yours - $20,000 is enough to buy a small investment property in Queens. Look in the neighborhoods you know best, as most people lose their shirts when they invest outside their own backyard.

If you stall buying now, rates are likely to be much higher and prices will become less affordable. You can never out-save the real-estate market, and a bad market works only to your advantage.

----- Is she seriously suggesting that a family with only $20,000 in savings use the entire amount to invest in a second home! That's absurd, a recipe for disaster and the most self-serving advice ever given! That's why real estate agents are thought of as the most unscrupulous profession in America!

Posted by: guest at May 16, 2008 8:41 AM

Has the lovely Ms. Corcoran ever suggested that anyone in any circumstance not buy a house? I don't think so.

Posted by: guest at May 16, 2008 8:46 AM

"You can never out-save the real-estate market..."

Pure broker propaganda. Pure lie.

Posted by: guest at May 16, 2008 8:53 AM

Even if you buy into it it's factually inaccurate. Where can you get an investment property with 20K down in this market? A studio in Jamaica Queens that you can rent for 800 a month? What a joke.

Posted by: guest at May 16, 2008 9:22 AM

Babs may be rich, but she's repulsive. I wonder if she's kicking herself for selling the Corcoran Group in 2001 just before the doubling and tripling of home prices.

Posted by: guest at May 16, 2008 9:35 AM

SInce no one has said so far, I love the Bed Stuy school story.
I share the Y on Bedford with these kids and they are great! Really proud of Bed Stuy.

Posted by: guest at May 16, 2008 10:17 AM

BABS is the slimest of all

real dirtbag

Posted by: guest at May 16, 2008 10:32 AM

I suppose babs is recommending that the buyer also finances closing costs and attorney fees? Rediculous.

Posted by: guest at May 16, 2008 11:10 AM

10:17 ...I echo your sentiments. I know this gentleman. I drove my nephews back and forth to his program in the 80's. They passed their regents with flying colors under his tutoring.He demanded excellence then as he does now.He is a great educator.

Posted by: guest at May 16, 2008 11:18 AM

great picture! so many terrific blocks like that in Greenpoint, especially off Franklin, which by the way, is blowing up as a shopping/destination street. great new restaurants in that area as well.

i find myself walking over that way now from williamsburg for brunch.

Posted by: guest at May 16, 2008 2:59 PM