Brownstones Half Off is like The What
with Zoloft
and without the foul language.
…I do appreciate his strength of conviction and consistent message though
and there was one house posted yesterday that was sold at exactly half off peak asking.
“House Price Recovery Just A Head Fake, Says Alpert, Especially In New York
In the second half of 2009, house prices staged a surprising recovery, leading many to conclude that the housing bust was done.
Keep dreaming, says Dan Alpert of Westwood Capital.
The rise in the second half of 2009 was mainly the result of pent-up demand combined with a tax-break, subsidized mortgage rates, and other incentives. The housing market is still awash in excess inventory, and Alpert says this will eventually drive prices down to 8%-10% below the lows of early last year [much worse for NYC – BHO].
The good news?
House prices should bottom this year and then begin to recover. Also, for the hardest hit areas, such as those in California or the sand states, the bust is probably over. Prices have fallen so far in those areas that Alpert thinks they’re bottoming now.
So where is the sky still falling?
Places where price-to-rent ratios are still well above historical norms [like 10x annual? – BHO], such as New York City.
A staggering amount of excess inventory means the housing crash in NYC is alive and well, Alpert says.”
So we just reported our year-end results…..
-Sale 8% down (Translation: not as bad as The Street thought)
-Stock up 30% from year before (Translation: Pretty impressive)
-Continue to reduce SG&A expenses (Translation: more layoffs this year)
Suddenly, goat herding and wine making is looking more and more realistic. Maybe Obamarama will subsidize an “urban” farm in the backyard of my co-op.
“”benson, condos in Palm beach area are going for around 40K. I am sure you can swing that.
Posted by: Kensingtonian at January 29, 2010 11:55 AM”
Really? What’s the catch?”
The catch is you have to live in Florida.
No thanks.
A night with Lebron will leave anyone with air balls
no homo
Brownstones Half Off is like The What
with Zoloft
and without the foul language.
…I do appreciate his strength of conviction and consistent message though
and there was one house posted yesterday that was sold at exactly half off peak asking.
“benson, condos in Palm beach area are going for around 40K. I am sure you can swing that.
Posted by: Kensingtonian at January 29, 2010 11:55 AM”
Really? What’s the catch?
True M4L – I just have a soft spot for big guys (no homo)
I think the Knicks need to sign two big free agents AND keep Lee though.
CA saw wine shipments drop first time in 16 years even as consumption rises. Consumers are buying cheaper imports.
Chinese wine????
From yahoo tech ticker…
http://tinyurl.com/y8k6msc
“House Price Recovery Just A Head Fake, Says Alpert, Especially In New York
In the second half of 2009, house prices staged a surprising recovery, leading many to conclude that the housing bust was done.
Keep dreaming, says Dan Alpert of Westwood Capital.
The rise in the second half of 2009 was mainly the result of pent-up demand combined with a tax-break, subsidized mortgage rates, and other incentives. The housing market is still awash in excess inventory, and Alpert says this will eventually drive prices down to 8%-10% below the lows of early last year [much worse for NYC – BHO].
The good news?
House prices should bottom this year and then begin to recover. Also, for the hardest hit areas, such as those in California or the sand states, the bust is probably over. Prices have fallen so far in those areas that Alpert thinks they’re bottoming now.
So where is the sky still falling?
Places where price-to-rent ratios are still well above historical norms [like 10x annual? – BHO], such as New York City.
A staggering amount of excess inventory means the housing crash in NYC is alive and well, Alpert says.”
***Bid half off peak comps***
benson, condos in Palm beach area are going for around 40K. I am sure you can swing that.