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September 4, 2008
Unwinding of the Mutant Real Estate Bubble
How will people cope with the implosion of the Mutant Real Estate Bubble? Cuss and discuss....
Comments
DOWhat-why do you wear your gym socks so high up on your fuzzy legs? How do you feel about that depiction of you?
In re Mutant Real Estate Bubble, since you have never properly defined the terms of this it is hard to discuss the feasibility of what you are predicting. If prices go down substantially it is my hope that people will care enough about their neighborhoods to maintain their beauty and integrity through the downturn. If the collapse does not come by October 16th though you owe us a round of drinks.
Posted by: wasder at September 4, 2008 2:06 PM
"In re Mutant Real Estate Bubble, since you have never properly defined the terms of this it is hard to discuss the feasibility of what you are predicting"
A outright collapse of our Banking System.
"If prices go down substantially it is my hope that people will care enough about their neighborhoods to maintain their beauty and integrity through the downturn."
Hope? You better hope other things don't happen.
" If the collapse does not come by October 16th though you owe us a round of drinks."
That's funny, I don't recall making such promise. Also my time table is at the end of October. That's when companies make their 3rd quarter reports. At this time you will know for sure that we are in trouble.
Here you mother fucking retard, read this!
Lenders Move to Foreclose on Macklowe Loan
http://online.wsj.com/article/SB122049678764898017.html?mod=googlenews_wsj
"A group of lenders led by Deutsche Bank AG filed papers in New York Supreme Court to foreclose on a $510 million loan that Macklowe Properties Inc. took out to build on the former site of the Drake Hotel on Park Avenue between 56th Street and 57th Street."
This is not "Clinton Hill" but PARK AVENUE!!!!!!!!!!!!!!!
"Harry Macklowe's woes have come to symbolize the pain that overextended real-estate investors have faced since the credit crunch started last year. Earlier this year, he was forced to give to Deutsche Bank control of seven Manhattan skyscrapers he purchased for $7 billion at the top of the market in 2007. The properties had been owned by Equity Office Properties Trust."
Wow Wasder! This giant Asshats is giving back Skyfuckingsrcapers! And you think the comps in Clinton Hill will hold up??! You are truly a fucking retard and I think you see the end of the MREB!
The What (Tick.. Tick.. Tick..)
Someday this war is gonna end...
Posted by: what at September 4, 2008 2:27 PM
Dude--on July 16 you said us Asshats had 90 days. This is documented fact. That gets us to October 16th. As you know responsible folks here on the board have been keeping track of your countdown even if you are now disavowing it. But clearly you have no interest in being correct, you just want to keep getting your rocks off on being a (very minor) internet "celebrity." Way to use your own press clippings in this post by the way. And you never answered me as to why you wear your gym socks so high up on your furry legs.
Better let your DOW8000 personality answer this as that version of you is more articulate. So for your predictions to come true we have to have (and I quote) "a (sic) outright collapse of our banking system" before October 16th.
Get ready to buy the drinks dumb shit.
Posted by: wasder at September 4, 2008 2:49 PM
Also, I don't think its possible for a balloon to unwind.
Posted by: wasder at September 4, 2008 2:50 PM
Read this article by the way and having a hard time seeing its relevance to Clinton Hill. Not that I don't think prices in Clinton Hill are not in the process of going down (myself being the beneficiary of this process). But dodgy borrowing by major commercial developers somehow does not put me in fear of my own little corner of the world. Enjoy your lame righteousness.
Posted by: wasder at September 4, 2008 2:54 PM
Hey Asswad! Why are you chasing me all over the place??!! I know why! I'm in your head...
"Get ready to buy the drinks dumb shit."
I will piss on all of you...
Here read some more..
U.S. Must Buy Assets to Prevent `Tsunami,' Gross
http://www.bloomberg.com/apps/news?pid=20602007&sid=aZLLPW9YEa60&refer=govt_bonds
``Unchecked, it can turn a campfire into a forest fire, a mild asset bear market into a destructive financial tsunami,'' Gross said. ``If we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury.''
Wasder, this is Bill Gross of PIMCO, one of the largest holders of US debt talking.
"Since financial markets seized up a year ago as the subprime-mortgage market collapsed, the Standard & Poor's 500 Index has fallen 13 percent and home prices are down more than 15 percent. Yields on investment-grade corporate bonds, debt backed by commercial mortgages as well as credit cards reached record highs last month relative to benchmark rates."
See Assfuck, I'm not making this shit up. The balance sheet of the US is holding up everything!
"The decline in home prices hasn't been seen since the Great Depression, Gross said. That drop translates to an even bigger decline in overall wealth as the effects ripple through markets, Gross said. Home prices in 20 of the largest U.S. metropolitan areas fell 15.9 percent in June from a year earlier, according to an S&P/Case-Shiller index."
Since the Great Depression? Ok Wasder, I don't think The What will be buying any drinks!
The What
Someday this war is gonna end...
Posted by: what at September 4, 2008 3:03 PM
"Read this article by the way and having a hard time seeing its relevance to Clinton Hill."
That's it Wasder your ass is on mute!
"I don't think prices in Clinton Hill are not in the process of going down (myself being the beneficiary of this process)"
WWWWHHHHHHHAAAAAAATTTTTTTTTTT!!!!!!!!!!!!!!!!!!!!!!!!!
Ok Wader please let's not have any dialogue, OK. I clearly can see you are in the mist of Greed and Delusion and I can't reason with people in this condition.
You make a mistake, live with it and thank you for proving my point....
The What
Someday this war is gonna end...
Posted by: what at September 4, 2008 3:08 PM
I just said I know that prices are coming down in Clinton Hill and in fact I just benefited from the purchase price of my house coming down by 200,000 dollars so what are you saying WWWWHAAAATTTT!!! at? I am not in the mists of anything (although that is a lovely if accidental turn of phrase).
How does Harry Macklowe's situation impact Clinton Hill?
What about your gym socks?
Posted by: wasder at September 4, 2008 3:24 PM
"I clearly can see you are in the mist of Greed and Delusion and I can't reason with people in this condition. "
What- you have to be capable of reasoning if you intend to "reason" with people. So far you've shown ample talent for name-calling, ranting, foaming at the mouth. For a guy who is going to have to buy drinks for everyone, I'd really prefer it if we didn't have to sit with you tied up to a chair leg and eating kibble.
wasder- I don't know why you persist. It's like expecting a rabid dog to stop biting. Clearly What isn't ready to have a dialogue with anyone but himself. He just starts these threads because he needs something to feed off of. Just can't seem to realize his glory days of NY Mag fame are over.
I know you're trying to be charitable to the Has-Been....hmm... actually I meant Never-Was. His air of desperation, that take me seriously or I'll fucktard you to death, is just so sad. He'll never get it.
Why, actually, do we want to have drinks with him? Unless we can tie him to a hydrant outside the bar, maybe then.
Posted by: lurker in the mist at September 4, 2008 3:27 PM
Lurker. You are right. When I first joined this board I took an approach like the one you are suggesting, saying that people shouldn't feed the troll etc. But I have come to think that it is more productive to tease and irritate him than to ignore him. Pointing out how wrong headed and idiotic feels better than letting his garbage sit unanswered like a turd on a sidewalk. Any time people have expressed exasperation with whatever I have said I have apologized and tried to tone it down. Its mostly in fun though, and I completely recognize that this is not a rational person I am dealing with.
In re drinks, it is a long standing joke about his Oct 16 doomsday deadline. I don't actually want to have drinks with him mostly cause I don't want to head out to Lodi.
Posted by: wasder at September 4, 2008 3:40 PM
Oh, I'm not taking you to task in any way wasder. In fact I was implying you were too kind!
I don't mind Lodi- its the doggie drool. we don't know if he's had shots.
Posted by: lurker in the mist at September 4, 2008 3:56 PM
Right on. Thanks.
We should make sure he is neutered as well.
Posted by: wasder at September 4, 2008 4:22 PM
What am I doing out here on vacation reading this crap again?????
Posted by: daveinbedstuy at September 4, 2008 4:37 PM
Hey Dave. Maybe there should just be a "nothing to see here" sticker slapped down on the whole thread.
Posted by: wasder at September 4, 2008 5:12 PM
Hi DIBS. We're impatiently waiting for you to get back and put the dog on a leash.
Posted by: lurker in the mist at September 4, 2008 5:18 PM
I'll deal with it, in the unlikely event that it comes to pass, by yawning and getting on with my life. I love my house and neighborhood and plan to spend the rest of my life there. FWIW I bought my house in late '74, just a few months before the City ran out of money. That didn't effect me much (once I found out I wasn't going to be laid off) and I doubt that your predicted "disaster" will be anywhere near as bad.
Posted by: Bob Marvin at September 4, 2008 8:12 PM
That's some good perspective, BM. 30 years from now this'll be a distant memory. Baiting people by creating your own threads just so you can jump back in and call someone an MF is pathetic.
Posted by: jawbreaker at September 5, 2008 9:59 AM
What is a fear salesman that uses his alter ego to be an internet gangster. Bet my bonus he's a pussy in real-life.
Posted by: moreteasir at September 5, 2008 10:26 AM
Moreteasir--you have hit the nail on the head. A bully and a blowhard when it is easy, likely a chickenshit in the world at large.
Posted by: wasder at September 5, 2008 12:52 PM
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