Monday Links
Slaying Victim Said to Have Been Part of Genovese Mob [NY Times] Now Growing in Brooklyn, a Waterfront Pile of Salt [NY Times] Auctions for Troubled Loans Jump to the Web [NY TImes] Home Negotiations Taking Place Via Email [NY Times] Schermerhorn House: New Homes for a Varied Cast [NY Times] The Spy of Cadman…
Slaying Victim Said to Have Been Part of Genovese Mob [NY Times]
Now Growing in Brooklyn, a Waterfront Pile of Salt [NY Times]
Auctions for Troubled Loans Jump to the Web [NY TImes]
Home Negotiations Taking Place Via Email [NY Times]
Schermerhorn House: New Homes for a Varied Cast [NY Times]
The Spy of Cadman Plaza [NY Times]
PlaNYC and Other Grand Urban Visions [NYT/City Room]
Pols’ Fare Summit Goes Off the Rails [NY Post]
More People Applying to Open Restaurants [NY Post]
New York City Crime Rate Still Falling [NY Daily News]
Breaking Ground in Brownsville: 104 Rentals [Brooklyn Eagle]
Brooklyn Officials Bust Massive Counterfeit Ring [Forbes]
Weekend Special–Food at the Brooklyn Flea [Village Voice]
Photo by ivan.gilkes
…and at these prices, they wouldn’t be going to college. They better work on that jump shot or ace those AP classes.
***Bid half off peak comps***
“…strike me as the musings of very cold person (hence my concern for your offspring)”
Wow, wasder. That’s bizarre. You’re OD’ing. I’m not cold at all. I just advocate and celebrate a price collapse from these historic highs so that homes can be purchased more in line with fundamentals. I joke around and make fun just like the bulls because us brownstoners have thick skin and we can take it. To think that my offspring will be affected is kinda out there. No one else in my immediate family goes off about home prices the way I do. It’s not genetic. My kids will be okay (and financially and macroeconomically literate for good measure).
“who are you talking to here? You were responding to something I said but then you go off onto this crazy tangent about defaulting so I must assume you are talking to someone else.”
I was responding to Lincoln slope at 12:22: “Think about the people who bought because they needed a home, and maybe now lost their jobs.”
“So if that parent wants their child(ren) to spend their formative years in a certain type of home they can’t wait 10 years. Childhood is over.”
You do not have to own to achieve this. Rentals are underrated. There is a growing inventory of immaculately renovated apartments and duplexes (owners who have to move but don’t want to take their medicine) for rent that cost far less than buying now and selling for an almost certain loss as these prices are crashing and aint coming back for at least a generation. How many families occupy, or could even afford to, a whole four story brownstone? A small minority. The typical situation is an owner’s duplex and two rentals. You can have that same situation for 2 to 5 grand depending on the location. You pay twice that to own (don’t give me that garbage about tenants paying your mortgage after you’ve put down your life savings).
I’m always astounded by the listings out there that are brilliantly renovated. Why do they want to sell after all the time and money? Either it’s not what it was cracked up to be at peak prices paid and/or they really have to move or, unfortunately, divorce. Look at that triplex on St James (Gates/Green) for rent. Gorgeous! $3,500/mo and dropping. There are other examples.
***Bid half off peak comps***
“A decade or less is hardly the average human lifespan, though my creator will decide mine.” – but someones 6 year old has turned into a 16 year old and starting to think about college now….So if that parent wants their child(ren) to spend their formative years in a certain type of home they can’t wait 10 years. Childhood is over.
“I do not equate home prices with prosperity and well being. If you are in over your head because your property is owning you, then it is in your best interest to default and walk away before you snap and do something terrible to yourself and/or your family. Mental health is far more important than trying to save face. You can buy again.”
who are you talking to here? You were responding to something I said but then you go off onto this crazy tangent about defaulting so I must assume you are talking to someone else.
Having never been bullish nor bearish but human I find very little redeeming qualities in your market analyses, which I have said ad nauseum strike me as the musings of very cold person (hence my concern for your offspring). But keep this in mind, you don’t scare me–nor should you be honored by people rightfully pointing out what an idiot you look like.
“Life goes on, and there is very little any of us can do about prices and macro economics.”
But there IS much you can do about the buy/sell trigger.
“You can wait your whole life for the market to be ‘just right’ for your economic circumstances or you can live your life and do the best you can.”
A decade or less is hardly the average human lifespan, though my creator will decide mine. Doing the best I can with respect to buying a home is buying low.
“BHO does the same thing but feels compelled to posture like this out of the misguided notion that he will have some effect on the real estate market.”
When I was bullish, it was the collective comments made by individual bears that have converted me. I call that an effect. My comments are definitely affecting the three of you as they have commanded responses. Thank you very much. I am honored.
***Bid half off peak comps***
Whatever, LincolnSlope, Schultz and wasder (aka Aquaman). I come to this site to gage and openly discuss the market, not make friends and most certainly not to discuss cats. It’s what I do. Petebklyn did not make a point about libraries and botanical gardens. He wondered about the ROTW and I’s response to the article. And I delivered.
“to constantly post with a Big half off sticker is just sort of a sad childish thing to do”
You are entitled to your own interpretation and I respect that. But I do not hide what I represent. I’m a market bear to the fullest and half off is what I predict.
“good luck with always thinking about the negative”
3X income is always positive and healthy. As for this depression, it’s better to be prudent than sorry. If I’m wrong, you’ll just end up with a lot of still valuable gold, ammo and canned food.
“BHO is invested in scaring everyone for very personal (dare I say selfish) reasons…”
Very true and very familiar. It the bull’s job to promote euphoria and greed. It’s my job to promote reality whether it scares you or not. We need fear anyway, if that’s what results, to balance out greed.
“…none of which relate to his concern for his fellow citizens.”
Correct. I do not equate home prices with prosperity and well being. If you are in over your head because your property is owning you, then it is in your best interest to default and walk away before you snap and do something terrible to yourself and/or your family. Mental health is far more important than trying to save face. You can buy again.
***Bid half off peak comps***
LincolnSlope and Schultz just spelled out the “Team Reasonable” credo. Life goes on, and there is very little any of us can do about prices and macro economics. You can wait your whole life for the market to be “just right” for your economic circumstances or you can live your life and do the best you can. BHO does the same thing but feels compelled to posture like this out of the misguided notion that he will have some effect on the real estate market.
“I think you are being ridiculous some times.”
Hysterical and fear-mongering are better terms. BHO is invested in scaring everyone for very personal (dare I say selfish) reasons, none of which relate to his concern for his fellow citizens.
“but to constantly post with a Big half off sticker is just sort of a sad childish thing to do. But eh, good luck with always thinking about the negative.”
Hah! Childish! Another good term for this particular poster.