Corcoran: Prices Generally Up in Q1
Corcoran just released its First Quarter Report for this year and the news is good: Median apartment prices were up nine percent over both the first and fourth quarters of last year. The resale market was quite strong, up 17 percent over a year ago, while prices at new developments fell off 11 percent over…
Corcoran just released its First Quarter Report for this year and the news is good: Median apartment prices were up nine percent over both the first and fourth quarters of last year. The resale market was quite strong, up 17 percent over a year ago, while prices at new developments fell off 11 percent over the same time period. (Average price per square foot at new developments fell from $712 in the first quarter of 2009 to $611 in the first quarter of 2010.) The townhouse data was a little wacky: Single-family prices were down more than 30 percent between Q4 and Q1 while two-, three- and four-families were up by almost the same amount. (Data sample issue perhaps?) Another bullish measure: The number of million-dollar sales in Brooklyn rose over 2009 levels.
Childish. Don’t bring up the foreclosure arguement again unless you’re going to support it. If you can’t understand that a forecluser on a piece of crap that needs a gut renovation really has no bearing on a renovated brownstone then you are beyond help.
So GDP is -10% YOY in your imaginary world of imaginary numbers? ROTFLMMFAO. If that were the case the equity markets wouldn’t have recovered to where they are. But, hey, you know more than the market.
> You never seem to have any class when you’re here posting.
Oh good. I lobbed that one nice and slow, and am glad it didn’t go to waste.
Have fun at Loki tonight. Bottoms up!
“it’s not just about what it feels like to you.”
-10% of GDP is not a feeling. It’s an effective reading that would be nominal if you took away the deficit spending.
“show us the data or STFU”
Option A:
+180% for Brooklyn and much worse elsewhere (do you need data for that too?). Elsewhere matters because the banks are centered HERE.
Show ME some data or YOU STFU.
***Bid half off peak comps***
By DitmasSnark on April 22, 2010 3:14 PM
> Are you two coming to Loki tonight???
Nope, I’ve got class tonight.
You never seem to have any class when you’re here posting.
Correction: just show me the list and we’ll see which ones…
***Bid half off peak comps***
There are specific metrics for both depression and recession based on fall in GDP and over how many quarters. if you’re going to use the terms, understand them fully and specifically, it’s not just about what it feels like to you.
You keep bringing up the the huge overhang of foreclosurees and positing that they are actaully relevant, so either show us the data or STFU.
> Are you two coming to Loki tonight???
Nope, I’ve got class tonight.
wiki…
…on depression…
“In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than a recession, which is seen by economists as part of a normal business cycle.
Considered a rare and extreme form of recession, a depression is characterized by its length, and by abnormal increases in unemployment, falls in the availability of credit, shrinking output and investment, numerous bankruptcies, reduced amounts of trade and commerce, as well as highly volatile relative currency value fluctuations, mostly devaluations. Price deflation, financial crisis and bank failures are also common elements of a depression.”
Wow! That sounds a lot like 2010!
…on recession (cross reference to depression)…
“A severe (GDP down by 10%) or prolonged (three or four years) recession is referred to as an economic depression”
What am I missing, DIBS? How is it clear that I do not know what a depression is? What’s your definition?
Show me THE list of preforeclosures AND foreclosures in ALL of brownstone Brooklyn that don’t have at least five with new systems and arch detail. Neither of us win this debate until we get this list out there. I don’t have a propshark account. Do you?
***Bid half off peak comps***
“Does the report talk about the +180% lis pendends from 4Q08 to 4Q09 that propertyshark itself reported weeks ago? Where are we now? How are these preforeclosures and foreclosures NOT going to take the market down significantly, say to half off? Do you really think income and rent fundamentals are going to let the market off scott free? It’s never happened before.
Supply and demand, right? How much longer can they hide the supply of distressed households/properties?”
Seems you know about all of them…Now find me 5 (Five) that are renovated with new elctric, plumbing, HVAC and have architectural detail…in ANY neighborhood in brownstone Brooklyn.