It always takes a big storm to blow away stagnant air. Sometimes they brew up on the Great Plains, sometimes on Wall St. But down on Montague, they started dealing in trust-fund slaves and something inside of em died.

But seriously folks, what is in the tax code that makes it easy for landlords to warehouse not only storefronts but apartments all over the city? Anybody know? Figure there must be some overgenerous provision that allows Archstone to carry all those absurdly priced empty apartments for months on end.

Posted by: cgwatcher at March 10, 2009 10:12 AM in response to High Rents Killing Montague Street

Why would you even buy this right now for 550k? Why not just wait and see until 2010 begins? If you're renting -- and rents are falling -- why move? If you own -- and prices are falling -- why sell?
Posted by: Bolder at March 3, 2009 6:09 PM

----

Why would they SELL? Hmmm ... because the reality might sink in at some point that you'll wish you'd taken the 550K when it's going for 425K this fall or early next year. Amazing to me that there are still some people who seem to think that spring or the stim or whatever will refloat the market. Next bubble please!

Posted by: cgwatcher at March 4, 2009 9:59 AM in response to Co-op of the Day: 344 6th Avenue, #2

Wow, the new math is finally coming. Maybe $2 million is no longer "reasonable" and $1 million "a steal," even in the Slope. And possibly 2-earner 400K families are not so "typical." Those in the dwindling ranks know a target is on their back at the shop, and they also may be realizing that prices are going nowhere but down.

Posted by: cgwatcher at February 23, 2009 2:00 PM in response to House of the Day: 356 1st Street

If it talks like an asshat, walks like an asshat and goes broke like an asshat ...

Posted by: cgwatcher at February 19, 2009 4:08 PM in response to Bankruptcy Forces Sale of Viridian

I like the mod balconies. Must have advanced electric-dog-fence technology wired in. Then they for sure could get 600K for a 2-bed, no sweat, in that great nabe.

Posted by: cgwatcher at February 18, 2009 9:28 PM in response to Development Watch: 892 Bergen Street

Ditto,

Ya mean we can actually have hope of one day buying! Prices have a looong way to go still. But maybe we're not priced out forever anymore.

Posted by: cgwatcher at October 10, 2008 6:43 PM in response to Quote of the Day

Gotta give The What credit for butting heads with the kool-aid drinkers for so long. But what he said, and I'm down with it, is nothing you couldn't have read on thehousingbubbleblog or patrick.net, or in the forecasts of Nouriel Roubini, to name just a few sources.

But The War is just beginning! The Dow is down from 14K to 8K, when houses follow suit, regular people will be able to own the roof over their head again. So I'm watching, for the end of the run-of-the-mill million-dollar rowhouse in Brooklyn. You know it's coming, sure as the turnin' of the earth.

Posted by: cgwatcher at October 10, 2008 5:25 PM in response to Quote of the Day