BHO: Although I too am a bear on NYC housing prices, we are definitely at an inflection point right now. By the end of this year, if it is not obvious that prices are heading lower it will be time to admit that NYC has somehow avoided the worst of the downturn.
I can tell you that there is the lowest inventory of houses for sale that I have ever seen. The only things on the market are for one reason or another, unbuyable.
BHO…you’re right, nobody is bullish. In fact, most retail investors are VERY bearish and therein lies the opportunity.
Bullishness Dwindles in Sign Stocks May Rally: Chart of the Day
Aug. 31 (Bloomberg) — Individual investors are the least bullish on U.S. stocks since the rally began in March 2009, a contrarian signal that they may rebound, according to Cabot Money Management.
The CHART OF THE DAY shows the proportion of respondents who were bullish fell to 20.7 percent last week, the lowest level since U.S. stocks started a 55 percent advance, according to an online survey of retail investors by the American Association of Individual Investors. The Standard & Poor’s 500 Index gains about 2.4 percent in the four weeks after the sentiment gauge falls below 25 percent, according to data going back to 1987 compiled by Bloomberg. The benchmark equity index rallies almost three-quarters of the time.
Investors lost faith in equities this month as the U.S.
government said the economy grew less than previously forecast, home sales plunged by the most in a decade and jobless claims rose to the highest since November. The stock index has lost 4.8 percent this month.
“In my 28 years of investing professionally, at extremes in sentiment individual investors are often wrong,†said Robert Lutts, president of Cabot Money Management in Salem, Massachusetts, which oversees $500 million. “As a contrary indicator, sentiment is often quite effective. Based on extreme negative investor sentiment, I do think we could rally.â€
“By most standard measures of economic health, New York City’s recovery from the financial crisis and the recession it started is well under way.”
“The typical New Yorker is less likely to be unemployed or facing foreclosure or bankruptcy than the average American. Homes in the metropolitan area have held their value better than in most other big cities as more people are moving to the region than deserting it. Tourists continue to flock to the city, filling hotel rooms at the highest rate in the country, and at rising prices.”
“but they focus only on the moonface neighborhoods.”
What is a “moonface neighborhood,” *rob*? That is a term I have never heard.
BHO: Although I too am a bear on NYC housing prices, we are definitely at an inflection point right now. By the end of this year, if it is not obvious that prices are heading lower it will be time to admit that NYC has somehow avoided the worst of the downturn.
I can tell you that there is the lowest inventory of houses for sale that I have ever seen. The only things on the market are for one reason or another, unbuyable.
BHO…you’re right, nobody is bullish. In fact, most retail investors are VERY bearish and therein lies the opportunity.
Bullishness Dwindles in Sign Stocks May Rally: Chart of the Day
Aug. 31 (Bloomberg) — Individual investors are the least bullish on U.S. stocks since the rally began in March 2009, a contrarian signal that they may rebound, according to Cabot Money Management.
The CHART OF THE DAY shows the proportion of respondents who were bullish fell to 20.7 percent last week, the lowest level since U.S. stocks started a 55 percent advance, according to an online survey of retail investors by the American Association of Individual Investors. The Standard & Poor’s 500 Index gains about 2.4 percent in the four weeks after the sentiment gauge falls below 25 percent, according to data going back to 1987 compiled by Bloomberg. The benchmark equity index rallies almost three-quarters of the time.
Investors lost faith in equities this month as the U.S.
government said the economy grew less than previously forecast, home sales plunged by the most in a decade and jobless claims rose to the highest since November. The stock index has lost 4.8 percent this month.
“In my 28 years of investing professionally, at extremes in sentiment individual investors are often wrong,†said Robert Lutts, president of Cabot Money Management in Salem, Massachusetts, which oversees $500 million. “As a contrary indicator, sentiment is often quite effective. Based on extreme negative investor sentiment, I do think we could rally.â€
quote:
Good article on New York City being a different animal from the rest of the country in terms of economic recovery and housing values. Enjoy!
but they focus only on the moonface neighborhoods.
*rob*
Face It, Nobody Is Bullish Anymore (Growl!)
http://tinyurl.com/2fvaw6m
Wait! HFT Algorithms are bullish (Maxiumum Overdrive)!
***Bid half off peak comps***
“By most standard measures of economic health, New York City’s recovery from the financial crisis and the recession it started is well under way.”
“The typical New Yorker is less likely to be unemployed or facing foreclosure or bankruptcy than the average American. Homes in the metropolitan area have held their value better than in most other big cities as more people are moving to the region than deserting it. Tourists continue to flock to the city, filling hotel rooms at the highest rate in the country, and at rising prices.”
http://www.nytimes.com/2010/08/31/nyregion/31nyecon.html?th&emc=th
Good article on New York City being a different animal from the rest of the country in terms of economic recovery and housing values. Enjoy!
re: this place.
1.) is the area safe for gay people?
2.) what subway stop is it near?
*rob*
ugh dumb ass chick texting on the elevator just now.
“like omg i just missed my floor” :-/ you didnt even PRESS the floor’s button dimwit!
*rob*
Thanks, rf. Which do you think is better, the Japanese place or the Thai place???