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November 20, 2008
Oh No...
Treasury Yields Drop to Record Lows as Recession Concern Rises
http://tinyurl.com/66nnvz
"Nov. 20 (Bloomberg) -- Treasury yields declined to record lows, with two-year notes dropping below 1 percent for the first time, as global stocks slumped and a deepening recession drove investors to the safest assets."
The air is being sucked out the room.
A Sea of Unwanted Imports
http://tinyurl.com/5m65s9
"And for the first time, Mercedes-Benz, Toyota, and Nissan have each asked to lease space from the port for these orphan vehicles. They are turning dozens of acres of the nation’s second-largest container port into a parking lot, creating a vivid picture of a paralyzed auto business and an economy in peril.
“This is one way to look at the economy,” Art Wong, a spokesman for the port, said of the cars. “And it scares you to death.”
Comments
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Posted by: Biff Champion at November 20, 2008 10:07 AM
Biff...I'm feeling a bit humbled this morning after looking at that pic of denton's range all night long.
Posted by: daveinbedstuy at November 20, 2008 10:09 AM
I just hope he finds the large iron pot stand he's looking for
http://www.brownstoner.com/forum/archives/2008/11/looking_for_pot.php#comments
Posted by: Biff Champion at November 20, 2008 10:12 AM
OK, that's at least the third time you've gone graphically nuclear. Japan surrendered after the U.S. did it (the real thing) twice. I take it that with your daily (now twice daily??) postings on a real estate blog, that you are looking for some kind of surrender from the collective Brownstoner commentariat. So let's have it: what are your terms?
Put another way, what if you were to post a simple query asking "Agree or disagree: the economy is in bad shape right now?" No graphics, no cut and paste from the business news. And suppose BIBS, Biff, brg, wasder, me, denton etc. were all to provide a one word response: agree. (This is without waiver, of course, to my or anyone else's right to disagree or post otherwise -- just a proffer for a thought experiment.) Would that suffice to end the posts? Would you go away at that point? If that would not suffice, then exactly what is it that you are looking to accomplish? And why on this site? What is it that drives you to keep posting these threads day after day?
The point of much of the sparring you receive in response to your posts, made most elegantly a while back by wasder (before he realized you were hopeless on this point) and again by Biff in organizing the party, is that for most of us on this site, our lives will continue with many joys to take pleasure in notwithstanding the current economic situation. You delude yourself if you think the various commenters are unaware of what is going on in the economy and you seriously misinterpret the impetus for the snark. In fact, it is you who seems to be unaware that there is more to life. So keep bombing away as if the brownstoner commentariat is the enemy. All you've accomplished is that you've gotten yourself so worked up about it you missed a really nice social gathering a while back.
Posted by: slopefarm at November 20, 2008 10:20 AM
Excuse me, DIBS (sorry Dave).
Posted by: slopefarm at November 20, 2008 10:26 AM
slopefarm, masterfully said, as usual. I never argued from the start we were in for very hard times, nor did most others, yet The What clearly loves continually patting himself on the back and congratulating himself for his broken record cut-and-pastes of predictions one could have easily found oneself all over the Internet. The only thing I genuinely am unclear about is the answer to my one question that The What won't address:
"The What, with all due respect, I think we can only conclude you are a fool for the following reason.
With all your wisdom, and given you're certainty that you were the only one who saw the current economic events coming, you must have either:
1) Made literally billions in your investment decisions over the past year or so. If this is the case, why would you be wasting your time here and not sailing around the world or splitting your time between your castle in Scotland, your villa in Italy and your beach house in Hawaii.
2) Not believed in and/or listened to anything you said and made no $$$s since last year.
Which is it?"
Posted by: Biff Champion at November 20, 2008 10:29 AM
Well written slope. No problem. BIBS is BabsInBedStuy (Babs Corcoran)
Posted by: daveinbedstuy at November 20, 2008 10:31 AM
"OK, that's at least the third time you've gone graphically nuclear."
And it's not the last time..
"Put another way, what if you were to post a simple query asking "Agree or disagree: the economy is in bad shape right now?" No graphics, no cut and paste from the business news. And suppose BIBS, Biff, brg, wasder, me, denton etc. were all to provide a one word response: agree. (This is without waiver, of course, to my or anyone else's right to disagree or post otherwise -- just a proffer for a thought experiment.) Would that suffice to end the posts?"
I know that you can't help yourselves, like the Pavlov dog. I think it's real cute being incredulous about the Mutant Asset Bubble....
"The point of much of the sparring you receive in response to your posts, made most elegantly a while back by wasder (before he realized you were hopeless on this point) and again by Biff in organizing the party, is that for most of us on this site, our lives will continue with many joys to take pleasure in notwithstanding the current economic situation."
Then why reply to my post? If everything is good in your life (rolls eyes) then why do you respond to these post, dumbass.
"So keep bombing away as if the brownstoner commentariat is the enemy."
Oh I shall and don''t worry I will be around to remind the Asshats of Bullshit.
" All you've accomplished is that you've gotten yourself so worked up about it you missed a really nice social gathering a while back."
No I miss getting Assault charges, I really mean that! I don't want to be around you or the other Asshats that stink up this blog...
The What
Someday this war is gonna end...
Posted by: Return of The What at November 20, 2008 10:32 AM
What the hell does any of this have to do with potstands or London Planetrees??????
Posted by: daveinbedstuy at November 20, 2008 10:36 AM
"I know that you can't help yourselves, like the Pavlov dog. I think it's real cute being incredulous about the Mutant Asset Bubble...."
No, we're actually incredulous that you don't understand that we DO get it.
"Then why reply to my post? If everything is good in your life (rolls eyes) then why do you respond to these post, dumbass."
Some still have hope that you'll be save. Not me, though. I just want to know this.
"The What, with all due respect, I think we can only conclude you are a fool for the following reason.
With all your wisdom, and given you're certainty that you were the only one who saw the current economic events coming, you must have either:
1) Made literally billions in your investment decisions over the past year or so. If this is the case, why would you be wasting your time here and not sailing around the world or splitting your time between your castle in Scotland, your villa in Italy and your beach house in Hawaii.
2) Not believed in and/or listened to anything you said and made no $$$s since last year.
Which is it?"
Posted by: Biff Champion at November 20, 2008 10:39 AM
The point of much of the sparring you receive in response to your posts, made most elegantly a while back by wasder (before he realized you were hopeless on this point) and again by Biff in organizing the party, is that for most of us on this site, our lives will continue with many joys to take pleasure in notwithstanding the current economic situation. You delude yourself if you think the various commenters are unaware of what is going on in the economy and you seriously misinterpret the impetus for the snark. In fact, it is you who seems to be unaware that there is more to life. So keep bombing away as if the brownstoner commentariat is the enemy. All you've accomplished is that you've gotten yourself so worked up about it you missed a really nice social gathering a while back.
Posted by: slopefarm at November 20, 2008 10:20 AM
This entirely sums up my position on the current round of What-related sparring. Thanks slopefarm for, as usual, putting thoughts together in a succinct and thoughtful way. Life goes on no matter who threatens who with extinction and annihilation. We are all living in Brooklyn in 2008 and we still be living and co-existing in Brooklyn in 2009 and beyond.
I haven't had the heart for this kind of combat recently. I have tried to acknowledge, where applicable, the contributions of the What and others in recognizing the precipitous drop in economic conditions but I refuse to be drawn into a battle about who is a more "valid" resident of Brooklyn. This website has never been one that was supposed to be a place to argue about the economy. It is supposed to be a lifestyle/renovation blog and it is unfortunate that we let ourselves get divided by the thoughts of people who have no interest in meeting in the middle and getting to know their neighbors.
Posted by: wasder at November 20, 2008 11:06 AM
And yes What, this particular photo has been used to death by you. can't you find some new imagery of the apocalypse to entertain us with?
Posted by: wasder at November 20, 2008 11:07 AM
wasder, nicely put. There's really no point trying to engage The What at this point. He's a broken record of doom and gloom and has presented nothing new for months, if not years. So let's just take these threads with the big frown and turn them upside down!
Gray skies are gonna clear up,
Put on a happy face!
Brush off the clouds and cheer up,
Put on a happy face!
Take off that gloomy mask of tragedy,
It's not your style.
You'll look so good that you'll be glad ya decided to smile!
Pick out a pleasant outlook,
Stick out that noble chin,
Wipe off that full-of-doubt look,
Slap on a happy grin!
And spread sunshine all over the place, just
Put on a happy face!
Put on a happy face!
Put on a happy face!
And if you're feeling cross and bickerish
Don't sit and whine.
Think of banana splits and licorice,
And you'll feel fine!
I knew a girl so gloomy,
She'd never laugh or sing,
SHe wouldn't listen to me,
Now she's a mean old thing!
So spread sunshine all over the place, just
Put on a happy face!
Posted by: Biff Champion at November 20, 2008 11:11 AM
Agree
Posted by: bayridgegirl at November 20, 2008 11:36 AM
I have no idea what I agreed to, as I didn't read the what's post, just the responses.
Posted by: bayridgegirl at November 20, 2008 11:37 AM
BRG--I think you agreed to the fact that the economy sucks but that we are going to be fine in the long run and that attacking your fellow Brooklynites over things that they can't possibly be responsible for is foolish.
Posted by: wasder at November 20, 2008 11:45 AM
"I have no idea what I agreed to, as I didn't read the what's post, just the responses."
BRG, in that case, next time please just default to
"Agree with Biff"
Posted by: Biff Champion at November 20, 2008 12:07 PM
"Agree with Biff"
Come now, Biff, there are many times, and will be many more that you and I don't see eye to eye.
You are such an egotist. You think that someone is just going to follow your lead.
Please!
Posted by: bayridgegirl at November 20, 2008 12:18 PM
Ok, fine BRG. I'm going to unleash my wrath on you. You're officially in my doghouse.
Posted by: Biff Champion at November 20, 2008 12:28 PM
"Agree with Biff".....I can be a bitch!
Posted by: bayridgegirl at November 20, 2008 12:33 PM
Somehow I have a feeling your bark is worse than your bite!
Posted by: Biff Champion at November 20, 2008 12:40 PM
You were the girl that changed my world
You were the girl for me
You lit the fuse, I stand accused
You were the first for me
But you turned me out, baby
You dropped a bomb on me, baby
You dropped a bomb on me (But you turned me on, baby)
You dropped a bomb on me, baby
You dropped a bomb on me
You were my thrills, you were my pills
You dropped a bomb on me
You turn me out, you turn me on
You turned me loose, then you turned me wrong
You dropped a bomb on me, baby
You dropped a bomb on me (But you turned me out, baby)
You dropped a bomb on me, baby
You dropped a bomb on me
Just like Adam and Eve, said you’d set me free
You took me to the sky, I’d never been so high
You were my pills, you were my thrills
You were my hope, baby, you were my smoke
You dropped a bomb, hey, babe
You dropped a bomb on me, baby
You dropped a bomb on me (But you turned me out, baby)
You dropped a bomb on me, baby
You dropped a bomb on me (But you turned me on, baby)
You dropped a bomb on me, baby (Mmm)
You dropped a bomb on me (You dropped a bomb on me, baby)
You dropped a bomb on me, baby
You dropped a bomb on me
We were in motion, felt like an ocean
You were the girl for me
You were the first explosion, turned out to be corrosion
You were the first for me
But you turned me out, baby
You dropped a bomb on me, baby
You dropped a bomb on me (Whoa...whoa...oh...oh...baby)
You dropped a bomb on me, baby
You dropped a bomb on me (I won’t forget what you done to me, babe)
You dropped a bomb on me, baby
You dropped a bomb on me
You dropped a bomb on me, baby
You dropped a bomb on me
I-I-I
I-I-I won’t forget it
I-I-I
I-I-I won’t forget it
You dropped a bomb on me, baby
You dropped a bomb on me
You dropped a bomb on me, baby
You dropped a bomb on me
I-I-I
I-I-I won’t forget it
I-I-I
I-I-I won’t forget it
You turned me out, you turned me on
And then you dropped me to the ground
You dropped a bomb on me.
You turned me out, you turned me on
And then you dropped me to the ground
You dropped a bomb on me
You turned me out, you turned me on
And then you dropped me to the ground
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
You turned me out, then you turned me on
You dropped a bomb on me
Posted by: SnarkSlope at November 20, 2008 12:48 PM
Yeah, yeah, woah, wo wo
Taxi ride, going downtown
Me an my girls, going out
Counting down, to detination
Ten to zero, mushrom cloud
Little angel, I've been too good
Ditch the halo, for a while
Dress to kill, I'll be causing
Mass destruction, so shield your eyes
I'm all steamed up and I'm ready to blow
The pressure mounts need a red overload
To get release
I gotta explode, explode...
I'm a bomb, can u hear me tick
Beware if u turn me on ,there is no safety switch
I'm a bomb use only steady hands
To mess with me you must be a brave man
I'm a bomb yeah bomb bomb bomb bom bom I'm a bomb*2
Bass so loud I can't hear u
Can't diffuse me now I'm wired?
Do not disturb while I'm dancing
Watch me set this house on fire
I'm a bomb, can u hear me tick
Beware if u turn me on ,there is no safety switch
I'm a bomb use only steady hands
To mess with me you must be a brave man
I'm a bomb, can u hear me tick
Beware if u turn me on ,there is no safety switch
I'm a bomb use only steady hands
To mess with me you must be a brave man
Club Crescendo getting loud
Run for cover underground
What you doing showing me no fear
You must be crazy hanging round here
I'm all steamed up and I'm ready to blow
The pressure mounts need a red overload
Need to get release
I'm gonna explode, explode
I'm a bomb, can u hear me tick
Beware if u turn me on, there is no safety switch
I'm a bomb use only steady hands
To mess with me you must be a brave man
I'm a bomb, yeah yeah yeah, can u hear me tick
Beware if u turn me on, there is no safety switch
I'm a bomb, use only steady hands
To mess with me you must be a brave man
I'm a bomb
I'm a bomb
I'm a bomb
I'm a bomb
Posted by: Biff Champion at November 20, 2008 12:53 PM
Biff,
I can be a very subdued person, but once I am loosened up, I can snarl.
If I were you, I'd be careful what you set yourself up for, cause I will bite.
Don't force me to give you a tongue lashing cause you might not like what will come out of my mouth.
Posted by: bayridgegirl at November 20, 2008 12:55 PM
I'm not going to touch any of that!!!!!!!
Posted by: daveinbedstuy at November 20, 2008 1:00 PM
BRG, I think you just crossed the line into being intrusive! But since The What fled the thread, I guess it's ok. Mind if I'm intrusive back?
Posted by: Biff Champion at November 20, 2008 1:00 PM
Let the lashing begin:
Biff, your 12:53 post.....Why are you posting it, I already read it in an email ;)
Posted by: bayridgegirl at November 20, 2008 1:03 PM
Biff, by all means intrude!
Posted by: bayridgegirl at November 20, 2008 1:04 PM
Dave,
Today's NYT Crossword puzzle
26 across
Clue: Eastern Queen (4 letters)
I put: DIBS
Posted by: bayridgegirl at November 20, 2008 1:06 PM
I know something about opening windows and doors
I know how to move quietly to creep across creaky wooden floors
I know where to find precious things in all your cupboards and drawers
Slipping the clippers
Slipping the clippers through the telephone wires
The sense of isolation inspires
Inspires me
I like to feel the suspense when I'm certain you know I am there
I like you lying awake, your baited breath charging the air
I like the touch and the smell of all the pretty dresses you wear
Intruder's happy in the dark
Intruder come
Intruder come and leave his mark
leave his mark
I am the intruder
Posted by: SnarkSlope at November 20, 2008 1:06 PM
Para bailar la bamba
Para bailar la bamba
Se necesita una poca de gracia
Una poca de gracia pa mi pa ti
Y arriba y arriba
Ay arriba y arriba
Por ti sere, por ti sere, por ti sere
Yo no soy marinero
Yo no soy marinero, soy capitan
Soy capitan, soy capitan
Bamba, bamba
Bamba, bamba
Bamba, bamba
Bamba
Para bailar la bamba
Para bailar la bamba
Se necesita una poca de gracia
Una poca de gracia pa mi pa ti
Ay y arriba y arriba
Para bailar la bamba
Para bailar la bamba
Se necesita una poca de gracia
Una poca de gracia pa mi pa ti
Y arriba y arriba
Ay arriba y arriba
Por ti sere, por ti sere, por ti sere
Bamba, bamba
Bamba, bamba
Bamba, bamba
Bamba, bamba
Posted by: daveinbedstuy at November 20, 2008 1:10 PM
My favorite Karaoke song.....
When you were here before,
Couldn't look you in the eye,
You're just like an angel,
Your skin makes me cry;
You float like a feather,
In a beautiful world,
I wish I was special,
You're so fuckin' special;
But I'm a creep,
I'm a weirdo,
What the hell am I doin' here?
I don't belong here;
I don't care if it hurts,
I wanna have control,
I want a perfect body,
I want a perfect soul;
I want you to notice,
When I'm not around,
You're so fuckin' special,
I wish I was special;
But I'm a creep,
I'm a weirdo,
What the hell am I doin' here?
I don't belong here, ohhhh, ohhhh
She's running out again,
She's running,
She runs runs runs runs...
Runs...
Whatever makes you happy,
Whatever you want,
You're so fucking special,
I wish I was special;
But I'm a creep,
I'm a weirdo,
What the hell am I doin' here?
I don't belong here,
I don't belong here...
Posted by: daveinbedstuy at November 20, 2008 1:16 PM
"Agree with Biff".....I can be a bitch!"
Apparently so can Karma, according to the thread on the front page, where, incidentally, I posted some useful advice on shaft removal to you BRG.
Posted by: Biff Champion at November 20, 2008 1:53 PM
What i think is really funny is the prescient irony of The Weener's borrowed signature line... Because, someday, this war will actually end and in fact, we're closer to that day with each market dropping week. With smart government policies, I do not see us going into a Depression. I just don't. There will be a few more very bad quarters and recession, like the many that preceded it, will end. Banks will lend and there will be day and there will be night. The economy will start growing and r/e will get humming. Flowers will bloom. Then what will The Whiner do? That is somewhat scary but my guess is crawl into an ever more isolated mental crawl space, dreaming about the next bad cycle ten years away. At best he spends his life ranting like a weird sidewalk prophet but at worst - I fear for a Brooklyn Unibomber.
Posted by: Colonel at November 20, 2008 1:56 PM
Biff - the colonel got between us.
I saw that...I'm not going to respond there, cause you have no idea what you're talking about.
'BRG, when dealing with your limit, just be careful when you withdraw the shaft or at least make sure you have sufficient room later to re-insert it if you need to. Otherwise, things can get very sticky.'
- insightfull architectural gibberish posted by Biff Champion
In architecture, when you’re doing an addition, in my case I am erecting two additional floors on a structure. It will be mounted on the roof. When calculating the footage and you are beyond what is allotted, you need to either shave back on the structure; ie make it a little smaller so it fits within the boundries. In my case, I like the size of the structure and am opting to remove the vertical shafts from my calculations. I’m not removing the shafts per say, I’m removing the size of the shaft from being calculated in the equation.
I’ve been working on these calculations all week and I’m finally making some headway.
Posted by: bayridgegirl at November 20, 2008 2:11 PM
'BRG, when dealing with your limit, just be careful when you withdraw the shaft or at least make sure you have sufficient room later to re-insert it if you need to. Otherwise, things can get very sticky.'
Biff, chin up. Maybe your architectural advice will make 'Quote of the Day'
Posted by: bayridgegirl at November 20, 2008 2:20 PM
Colonel, love your post. You can join in our reindeer games whenever you want and will be moved to the A List for the next party.
BRG, I'm no architect, but I play one on Brownstoner. Regardless, before you erect anything, you better be sure when it's ready for mounting that you have sufficient space to accomodate the addition. If you don't have this, you may experience undue pain. If you've prepared for everything, just let the pieces all slide into place and then everything will just come together.
Posted by: Biff Champion at November 20, 2008 2:21 PM
And The What is also a psychopathic, homophobic, mysogynist who is praying for the country to go bankrupt and all of us to be out in the streets killing ourselves, if you're honest. I think most people would agree that's probably worse than being intrusive.
The What
Someday this war is gonna end...
Posted by: Return of The What at November 20, 2008 2:53 PM
"And The What is also a psychopathic, homophobic, mysogynist who is praying for the country to go bankrupt and all of us to be out in the streets killing ourselves, if you're honest. I think most people would agree that's probably worse than being intrusive."
Now THAT's something we can all agree on. And possibly the best written post by The What ever.
Posted by: Biff Champion at November 20, 2008 2:58 PM
Biff, spoken like a true novice. You keep playing the part, maybe you’ll get a handle on it.
Spatial issues are not a problem. I am great at space planning and have configured many tight spaces. It’s all in the layout. Biff, pieces don’t slide or fall into place, it is all designed and planned. Every last detail is thought of. We draw plans, lines are put on paper denoting the arrangements, and it’s a calculated process. Things don’t happen unless they are premeditated in great detail. It’s a very time consuming procedure.
I’m getting sick of the zoning aspect of this project and want to move on to the actual design. I have great vision for this space. I want to take hold of my pencils and finally do some drafting.
Yes, Biff, I don’t do all my creative drawing on the computer, I’m old fashioned in that sense that I still like to glide a pencil across the paper and see images flow out.
Posted by: bayridgegirl at November 20, 2008 3:12 PM
Nothing like an old fashioned girl.
Posted by: daveinbedstuy at November 20, 2008 3:14 PM
Nothing like an Old Fashioned, girl.
Posted by: SnarkSlope at November 20, 2008 3:17 PM
DIBS...do you need a straight to english dictionary?
or a dictionary on architectural terms?
Posted by: bayridgegirl at November 20, 2008 3:17 PM
BRG, that's all well and good but at some point you have to take the bull by the horn and just pick a time and place for it all to happen. Otherwise, you'll never know if the instrument you're contemplating using is the best fit for you and will be able to take your project through to completion.
Posted by: Biff Champion at November 20, 2008 3:23 PM
BRG...you still haven't figured out the RQ, BQ ans PQ acronyms.
One of my first BFs was an architect. He worked for Stanley Tigerman and then went out on his own and sold his firm. Now he has a brownstone in Astor St. in Chicago. I should have stayed with him. I'm well versed in such esoteric architectural terms as "jerkin-head," "belt cross," "groin vault," and whatever else your dirty little mind is going to throw at me. LOL
Posted by: daveinbedstuy at November 20, 2008 3:30 PM
Biff and brg,
Are you two planning to collaborate on this project or is this strictly DIY?
Posted by: slopefarm at November 20, 2008 3:33 PM
slopefarm...I hope we acn see an expeditor involved before we get bored to death with the architectural foreplay.
Posted by: daveinbedstuy at November 20, 2008 3:40 PM
Biff, that made no sense, again a sign that you are indeed out of your league.
'that's all well and good but at some point you have to take the bull by the horn and just pick a time and place for it all to happen.'
For what to happen? Design. Hubby and I are both in this trade and we work out of our home. We're always designing at home. I do most of my creative work from there but I also rent a cubicle in an architect's office if I need to resource things and plot drawings.
Otherwise, you'll never know if the instrument you're contemplating using is the best fit for you and will be able to take your project through to completion.
Instrument as in pencils???
I do my creative drawing on trace, it's transparent. And I use a sharpie to sketch. To do the hardcore drawings, the details, the eleborate things, I jump on the computer and start drafting.
Next, smarty pants!
Posted by: bayridgegirl at November 20, 2008 3:40 PM
Slope I am laughing so hard right now!!!!
Biff, you want to answer Slope's questions or should I?
Posted by: bayridgegirl at November 20, 2008 3:42 PM
slopefarm, let's just say if this was an HGTV show, it might be any of the following:
1) Look What I Did!
2) The Big Reveal
3) If Walls Could Talk ...
4) Knitty Gritty
5) Special Presentation
6) Sweat Equity
7) New Spaces
8) Ground Breakers
9) Rip & Renew
10) Over Your Head
11) Hammer Heads
12) Red Hot and Green
13) Secrets That Sell
14) Hidden Potential
15) Spice Up My Kitchen
16) Sleep On It
The only show I know it wouldn't be is Property Virgins.
Posted by: Biff Champion at November 20, 2008 3:43 PM
the sp 500 tested the 750 range ... I wrote this a week ago. Wow I am good
Posted by: HOBOKENROCKS at November 20, 2008 3:57 PM
But still no $800k brownstones in BH!!!!
Posted by: daveinbedstuy at November 20, 2008 4:00 PM
HOBOKENROCKS, but you also said you'll pick up a Brooklyn Heights brownstone for $600K (and then revised that to $800K). How long until that happens? A good prognosticator gives precise dates.
Posted by: Biff Champion at November 20, 2008 4:00 PM
I know but I can afford more now dave, lol
Posted by: HOBOKENROCKS at November 20, 2008 4:01 PM
17)In your neighborhood
18)Built to Last
19)Erect This
20)Plaster
21)Planning your Next Move
And one that it definately would be....
(I can't say it)
Posted by: bayridgegirl at November 20, 2008 4:02 PM
I will tell you biff if deflation keeps bringing the market down than I will be able to get it by end 2009 or early 2010. It will probably be a full rehab job though. But if at one point inflation comes back into the mix than I may never be able to get it at even 1 million... I am rooting for deflation for the next year and after I purchase A whole lot of inflation...
Posted by: HOBOKENROCKS at November 20, 2008 4:06 PM
HOBOKEN...in reality what we are beginning to see is that interest rates are coming down as is the price of fuel.
This will begin to increase the affordability of homes and prices will no longer fall but begin to go up.
Yes, it will take a lot longer in areas like FL, NV and CA where there's a huge overhabg of properties but I don't think anyone believes there's a huge overhang in brooklyn. Ten year Treasuries today are at 3.03% and 30 Yr are at 3.53%.
Posted by: daveinbedstuy at November 20, 2008 4:14 PM
Dave I WROTE ON A DIFFERENT FORUM about the fed printing by buyign the 10 yr and it came down alot today. That should bring interest rates down on mortgages. I still would like to see a 5 percent 30 yr. That plus some tax holiday will get us out of this deflationary spiral. I hope for a huge drop in the market friday morning. Testing 6900-7200 on the dow. The fact that the world is dropping rates will help. But we will see if people start spending. I think the only way to get people out of cash is by more printing thus bringing the dollars value down, creating a negative interest rate on dollars.
Posted by: HOBOKENROCKS at November 20, 2008 4:23 PM
"And one that it definately would be....
(I can't say it)"
BRG, don't start something you can't finish. Spill it...
Posted by: Biff Champion at November 20, 2008 4:24 PM
The move across the whole yield curve today was not just a "flight to safety." You are correct. The government was out there injecting billions into the system by purchasing Treasuries. The amount of liquidity out there is phenomenal. If I can find the chart tomorrow I'll post it.
Posted by: daveinbedstuy at November 20, 2008 4:27 PM
'BRG, don't start something you can't finish. Spill it...'
Honey, everything I start I finish.
Biff, If I recall, I didn't start this!!
Spill it......hhhhmmm...needs re-wording, but could be a title.
Posted by: bayridgegirl at November 20, 2008 4:31 PM
dave that is the fed's sneaky way of printing. They want those long term rates down. This way people can afford homes, prices of homes stabalize and all the junk securities can start trading again. We will see if they get out of it what they want. If they don't the next round is straight out purchasing assets to stabalize their values..
Posted by: HOBOKENROCKS at November 20, 2008 4:37 PM
Hoboken, you are the reason I read these forum threads. I appreciate the glimmer of insight into what is going on out there.
Posted by: kingston at November 20, 2008 6:17 PM
HEY THANKS, THAT REALLY MAKES ME FEEL GOOD. I post on this site to give info, the truth is we are all in for hard times. I for one don't know what the government is going to do. But if they keep printing than our dollars will devalue. I am buying gold slowly but surely I will also look at purchasing other currencies to diversify away from the dollar.
Posted by: HOBOKENROCKS at November 20, 2008 9:44 PM
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