babeland or whatever they call it is next. such a top-tick store.

Posted by: jingle mail at May 21, 2009 5:09 PM in response to StreetLevel: Flight 001 Leaving the Slope

if you rent and don't earn much money, your tax dollar contribution to the the schools is minimal. in fact, if you made one comment on here today, you have had more than your fair share of input for the year. thanks, nice doing business with you, crotchfruits.

Posted by: jingle mail at April 7, 2009 4:04 PM in response to The Shifting School Equation

not racist, statisticianist.

Posted by: jingle mail at April 7, 2009 12:32 PM in response to The Shifting School Equation

i think the overcrowded kindergarten problem will disappear around 2012-2013. kids who start before then will be like sardines, and kids that start after then (housing bust +5 years) will be hearing crickets. baby boom officially over. another benefit will be that private schools will "reassess" their high tuitions once demand plummets.

Posted by: jingle mail at April 7, 2009 11:14 AM in response to The Shifting School Equation

not that it really matters, but if you guessed that the kids were white, you had an 80% chance of being right according to 2007 census figures. only 17% if you guessed black. i'm guessing asian.

Posted by: jingle mail at March 30, 2009 3:48 PM in response to Death at Eastern Parkway Drug Den

come play with us danny. forever and ever and ever...

Posted by: jingle mail at March 26, 2009 4:08 PM in response to House of the Day: 182 Rutland Road

yes, a couple with a family or planning to start one... buying a house in a still "edgy" neighborhood for ONE MILLION DOLLARS! then they have to send their one or two kids to private school (which invariably involves a horrid commute). that is some serious exuberance/confidence from said family in the near-term economic prospects of nyc. b/c if one of those high earners happens to work on wall street (or law or retail or real estate) and is cut, the whole thing comes unwound. this is for a family of gamblers at this price.

Posted by: jingle mail at March 26, 2009 3:20 PM in response to House of the Day: 182 Rutland Road

looks like an inland empire "office park" tower.

Posted by: jingle mail at March 26, 2009 1:06 PM in response to The Be@Schermerhorn Price Cuts We've Been Waiting For

oh, no way! you got a pic of the kentile floors sign from the subway?! that's original...

Posted by: jingle mail at March 24, 2009 6:13 PM in response to Monday Blogwrap

at least they will be able to keep the deposits. should service the loan for a couple of months...

Posted by: jingle mail at March 24, 2009 5:56 PM in response to The Argyle Unveiled

BrooklynLove - sure, there are some that don't here in nyc, but only with 750+ FICO, 50-60% LTV and 6-7% rates. i'm sure there are tens of people just in a mad rush for those terms. good try.

Posted by: jingle mail at March 20, 2009 9:43 AM in response to What's Going On at Be@Schermerhorn?

the fatal flaw in their logic is that increased foot traffic will result in increased sales. i would tend to lean more toward it being an expression of morbid curiosity. and even if prices "make sense" for the market, new FNM condo rules will make it almost impossible to get funded on this. FRE is likely to follow shortly.

Posted by: jingle mail at March 19, 2009 2:24 PM in response to What's Going On at Be@Schermerhorn?

patience dave. patience.

Posted by: jingle mail at March 6, 2009 12:16 PM in response to This Is Not the First Bear Market in Brooklyn Real Estate

not a penny over 999k (and even that's a bit high). who would pay the mansion tax to live on a highway on-ramp in windsor terrace? i wouldn't live a block from a highway at any price, but that's just me.

Posted by: jingle mail at March 4, 2009 4:40 PM in response to House of the Day: 216 17th Street

yay. more rentals with "condo finishes" in sketchy areas.

Posted by: jingle mail at March 2, 2009 6:02 PM in response to City Approved Toll Brothers Gowanus Plan...2 Weeks Ago!

550K

Posted by: jingle mail at March 2, 2009 6:00 PM in response to House of the Day: 691 St. Johns Place

not enough recessed lighting

Posted by: jingle mail at February 20, 2009 12:39 PM in response to What $2.7 Million Gets You in Kingston

new2, you got your nested outline formatting wrong. it's 1)2)3) and then a)b)c). snark!

Posted by: jingle mail at February 19, 2009 2:30 PM in response to House of the Day: 897 Union Street

DIBs, for someone who claims to have worked at a hedge fund, your grasp of numbers is a bit concerning. I hope you weren't responsible for any returns. Yikes.

Posted by: jingle mail at February 3, 2009 1:14 PM in response to Last Week's Biggest Sales

don't you just love it when an "intellectual asshat" can't even read the whole passage he is responding to?

conclusion: "any conclusions drawn may be wrong"

Posted by: jingle mail at February 3, 2009 1:03 PM in response to Last Week's Biggest Sales

Selection bias (e.g. Berkson's bias)[1] is a distortion of evidence or data that arises from the way that the data are collected. It is sometimes referred to as the selection effect. The term selection bias most often refers to the distortion of a statistical analysis, due to the method of collecting samples. If the selection bias is not taken into account then any conclusions drawn may be wrong.

Posted by: jingle mail at February 3, 2009 12:55 PM in response to Last Week's Biggest Sales

we're a far cry from the days of people sleeping on sidewalks to get first dibs on preconstruction.

www.youwalkaway.com

Posted by: jingle mail at January 30, 2009 4:09 PM in response to Fourth Quarter Saw Biggest GDP Decline in 26 Years

remember, they were marketing the toren hard in europe when the euro was much stronger against the dollar. i haven't checked the stats, but i believe many of the sales came before the true market meltdown of late 08. that being said, i think it's a great building and it will probably sell completely at some point. only at further reduced prices. but let's face it, that area is nothing to get excited over at this point.

Posted by: jingle mail at January 30, 2009 3:25 PM in response to Avalon and Toren Rising

denton, technically you do. but that includes actors, musicians, etc. the $loaded$ ones simply break the law b/c it's not enforced. the city has no incentive to keep those prices low.

Posted by: jingle mail at January 30, 2009 12:25 PM in response to Manhattan Is to Brooklyn As...

yeah, DIBS. just posted bail. good one. hehe. don't quit your dayjob, or whatever you call this.

now, to the topic. i'm not an economist, but rosenberg (who has been very spot on so far) is basically calling depression right now. historic range for duration is 3-7 years. we are a little over 1 year in so far. predicting market levels is pretty futile because even the "experts" can't do it in this environment. bottom line is that the economy is going through massive deleveraging at the moment (DIBS excluded) and there are trillions left to go. the government "bailout" is a drop in the bucket, so it may have a marginal positive effect, but not enough to stop the train. if you hitched your wagon to nyc real estate as a near-to-mid-term wealth generator recently, best of luck to you.

Posted by: jingle mail at January 30, 2009 12:17 PM in response to Fourth Quarter Saw Biggest GDP Decline in 26 Years

spot on, what.

Posted by: jingle mail at January 30, 2009 10:28 AM in response to Fourth Quarter Saw Biggest GDP Decline in 26 Years

billyboomer. the skinny building is a rental from what i understand. still doesn't excuse the shoddiness...

Posted by: jingle mail at January 27, 2009 3:55 PM in response to System Failure at The Novo

once the kids are done with 321, they will all have asthma/emphysema from the 24 hour heavy truck traffic going up and down that 6 lane highway they call 4th ave, err the new park ave...

Posted by: jingle mail at January 27, 2009 3:09 PM in response to System Failure at The Novo

wow. they really drove a hard bargain in williamsburg. $990 dollars off ask. sweet.

Posted by: jingle mail at January 26, 2009 7:36 PM in response to Recent Sales in Brooklyn

i know a business doing well: www.youwalkaway.com
"the keys are in the mail"™

Posted by: jingle mail at January 26, 2009 7:32 PM in response to Quote of the Day

not all negative. reminds me of the movie "the money pit". 800k tops.

Posted by: jingle mail at January 15, 2009 6:11 PM in response to House of the Day: 403 East 19th Street

GM and Ford reported that they are seeing an uptick in truck sales and Honda is experiencing a pileup in Prius inventory.

The govt. is drafting provisions to adjust mortgages down to current values (i.e. cramdowns), making the taxpayers and the banks eat the difference.

Real tectonic shifts.

Posted by: jingle mail at January 15, 2009 6:04 PM in response to Quote of the Day

for the guy with $30k and wanting to put 10% or less down, i would say just wait. i don't know of any lenders that will even underwrite a loan like that right now. plus, keep in mind that there are closing costs. i think you said your wife may lose her job. that is one among many other potential cash flow hits that could come in 09. being house poor when that happens may not be the best idea. i think it's great that you want to buy, but you really need at least 25% of the purchase price in cash and i would recommend another $20k minimum on top of that for emergencies or repairs. i would hate for your place to be talked about in "pre-foreclosure" on some future brownstoner post. if you are still doing what you did to get $30k, you should be able to build beyond that no problem. the way the market is going, you will be glad you waited.

Posted by: jingle mail at January 9, 2009 4:55 PM in response to Open House Picks

the people writing research on NY housing at GS are NOT the same people who are running the firm or writing about $200 oil. do any of you actually understand this? anyway, go on patting yourselves on the back and living in denial about what RE will do. best of luck with that.

Posted by: jingle mail at January 9, 2009 1:20 PM in response to Goldman: NYC Prices Have a Ways to Go

ok, now i see why all these folks think bed/stuy is going to go through the roof during a depression. it WOULD only appeal to gay men, especially if/when crime spikes again. professionals with families would either have to resign to raising thug-lifers or be very loaded and pay for private school. now i get it. i knew about 'ol dibs (on the count of his former obnoxious spamming), but not the rest. you go, girlz (snaps). btw, i'm not homophobic. some of my friends are gay. but don't get your hopes up near-term on your hood.
and DIBS. quit while you're ahead. i am embarassed for you bro.

Posted by: jingle mail at January 7, 2009 5:30 PM in response to Closing Bell: Real World: Brooklyn Premieres Tonight

DIBS - don't worry. everyone on here, the media, economists, the fomc, smart money investors - all of them are wrong. you and your posse know more than all these "professionals". you will get that $2000 for your 1br in the ghetto sooner than you think. just keep believing. asshats be damned.

Posted by: jingle mail at January 7, 2009 11:49 AM in response to Quote of the Day

you guys crack me up. obviously not a lot of wall streeters on here. reminds me of that scene in office space where they look up money laundering in the dictionary...

Posted by: jingle mail at December 31, 2008 1:28 PM in response to National Prices Fall 18%, New York Further to Go

i'm going to go out on a limb and subscribe to panarin's predictions (link below). so by the end of 09, we will be in a full blown civil war. brownstones in prime areas should be about $50K (in gold only). after we are taken over by the EU in 2010 and adopt the euro, our economy will improve and it should be worth 5mn euros (as euro-trash migrate to their new colony and demand increases). if that doesn't come true, then i predict that will smith's "i am legend" will happen in 2010. either way, i win.

http://online.wsj.com/article/SB123051100709638419.html

Posted by: jingle mail at December 31, 2008 1:16 PM in response to 2009 Predictions and Resolutions?

wow brownstoner, you left wall street for this? sweet. looks like you are hosting a sounding board for the socially bereft...

Posted by: jingle mail at December 26, 2008 9:45 AM in response to Last Week's Biggest Sales

yeah, stuff sells when you slash the price by 25-50% during the busiest buying season of the year...

Posted by: jingle mail at December 26, 2008 9:30 AM in response to No Recession at Target

polemecist on some real black helicopter, tin hat $hit today. while that outcome doesn't have a 0% proability, you are making a much bigger deal of the CA stuff than it really is. the state has done that before, and little inland empire municipalities bankrupting on 900K debts is hardly mass chaos in the streets. many of them will simply dissolve the towns into the counties. it will be hard for a while, but anarchy!? that didn't even happen in the depression and it was WAY worse than where we are now. get back to me when someone you know is picking produce in CA and getting from job to job by hopping freight trains... i will get my model a fired up.

Posted by: jingle mail at December 19, 2008 2:50 PM in response to Tax Break Contributed to Bubble

i don't know about "thriving". i see one dude there and i think he's staged.

Posted by: jingle mail at December 18, 2008 2:59 PM in response to A Pre-War Look at the Empire Stores

agreed w/ kdab and bolder. should be at least $100k below current ask. would probably still take a long time to move even then. what person resigned to not live in "prime" brooklyn would just have $70-80k laying around and not have a better use for it (e.g. earning interest in a cd)?

Posted by: jingle mail at December 18, 2008 2:57 PM in response to Co-op of the Day: 515 East 7th Street

this deal has been pretty well known since announced, so if you are surprised, you weren't paying attention. i also have to argue that TD is a much more well known brand than commerce (e.g. TD ameritrade). i personally prefer the green to the horrible red C (which the old ceo paid his wife to design). i talked to one of the tellers and TD pays better and has better benefits too. i would never have banked at the old commerce (CEO was a scumbag and got in legal trouble so had to sell), but would definitely consider it now.

Posted by: jingle mail at November 6, 2008 4:19 PM in response to Changing of the Banking Guard on Montague

a year and a half ago, this thing would have had a bidding war at original ask. people on here would be telling you how stupid you were if you said it was overpriced. they would call you a bitter renter and something else about what a loser you were. what a difference a financial crisis makes indeed.

Posted by: jingle mail at October 8, 2008 4:05 PM in response to Co-op of the Day: 63 Cranberry Street, Parlor Floor

5th doesn't have too many restaurants, just too many of the same kind. if i see another bad sushi place open... (shaking fist)

Posted by: jingle mail at October 8, 2008 3:42 PM in response to BBQ Extinguished at Lookout Hill

aussie, my 401K is in all cash for now. you would be smart to consider doing the same for a while. tell you what. when we start hearing of people who bought before 2001 having problems making their mortgages and being underwater by 20%, i may join your side. right now, i am only hearing of people who took out loans they couldn't afford, with overstated incomes to buy overpriced RE. the government has to put out WAY bigger fires before poor recent buyers who are down a whole 20% hit the radar screen. let's think about what's really changed here. sure, there is a slight bump in unemployment, but the biggest change is that the easy money propping up the ridiculous prices has dried up. what you are proposing is to punish the frugal people who either couldn't afford to jump in or realized the insanity of doing so by keeping prices elevated beyond their reach (or will to buy). and, to your point, where will the buyers come from for the "stabilized" price (besides the govt)? there are plenty of people on the sidelines with decent cash piles (like myself) who just want to buy housing for the natural clearing price. let prices get there and inventory will start to clear. simple as that.

Posted by: jingle mail at October 8, 2008 2:09 PM in response to Attendence Falls at Brooklyn Open Houses

maybe they'll buy my enron stock too.

Posted by: jingle mail at October 8, 2008 12:51 PM in response to Attendence Falls at Brooklyn Open Houses

yes aussie. let's hope the govt. intervenes to keep the housing market from finding its natural clearing price. that way we can artificially prop up the people who deserve it. especially when our govt. has enough fires to fight on its own. yeah, i bet that's a top priority...

Posted by: jingle mail at October 8, 2008 12:49 PM in response to Attendence Falls at Brooklyn Open Houses

"I think it is a great area with a really unique vibe"

yes, "unique" indeed. it comes from the B/Q/N trains.

Posted by: jingle mail at October 8, 2008 12:42 PM in response to Last Week's Biggest Sales: Dominant Dumbo