Register to leave a comment, or log in if you already have an account
“Biff we are around the same age.”
What, I think you’re actually much older than me, but I let that slide in light of our current cease fire. (Sorry, I couldn’t resist).
“Biff’s point that not everyone in the world of finance is driven by greed and a desire to rip people off”
wasder, and some of us on Wall Street even voted for Obama and are thrilled that he won!
Yeah, its hard to say who is to blame (if that word even applies here) for the price of my house or any other. I bought the house I bought after an exhaustive search of the market and exploration of value vis a vis different neighborhoods (looked in WT, Sunset Park, Bed Stuy etc before buying and remaining in Clinton Hill). But overall are NYC houses overpriced according to most economic standards? They would seem to be. I just hope to be able to be one of the people who says years later “Glad I didn’t overstretch back in the oughts (or whatever this decade ends up being called)”. Jury remains out there.
wasder, the point you made in your first paragraph is exactly the reason I don’t want to see the middle class screwed any more than they’ve already been. It’s people like you, who simply wanted a big enough, nice home for you and your family and are working hard and honestly to obtain that. You didn’t buy out of greed thinking you were going to flip it for a 100% profit in two years. You bought it to live in, presumably for the long term. Did you overpay for it? Perhaps…but whatever you paid was what you thought the home’s value was and obviously you would have paid less if you could have. Who, if anyone, was to “blame” for the price you paid? Perhaps unscrupulous real estate agents who inflated the prices and assured you that you were getting a deal or perhaps other hard working, middle class people with the same hopes and dreams for their families who couldn’t get what they felt they needed for less.
I feel like jumping in here because my experience with recently buying has made me take a look at my own place in the MRAB. I agree to a certain extent What that everyone holds some responsibility for “buying into” the insanity. And yet, as I first said when I started writing here, what is a guy (or a gal) to do if this is world in which they live? I personally tried to find something that fit my needs that wouldn’t drive me into the poor house. The jury remains out on whether I succeeded but I am cautiously optimistic. I guess what I am trying to say is I know that I had to play by these rules to buy but I don’t really feel like I am complicit in the worst of what has gone down.
Biff’s point that not everyone in the world of finance is driven by greed and a desire to rip people off is obviously a good point and I have always hated lumping everyone together in that world with one brush. Blame needs to be assigned because nobody learns anything if a thorough accounting of the problems is not done. But it does get emotionally exhausting trying to finger culprits. I personally am hunkering down and trying to batten the hatches for whatever lies ahead and wishing everyone else success in the same.
Pretty impressive of you two to be able to get into it like this though.
“We still disagree to an extent. I do agree that CERTAIN individuals in CERTAIN business lines feel they need to act in a CERTAIN manner to succeed. The clearly deficient internal and external lack of oversight enables such people to get away with unethical and often illegal behavior.”
Biff that’s OK and remember “Coffee is for closers”..
“Biff I disagree with some of what you said. Go watch Wall Street, Boiler Room and Glengarry Glen Ross. There is a mentality that you have to use when working in the Bubble and like Cobblehiller says ” It’s all fun until someone loses a eye”.”
What, I’ve seen all of those. In fact, Glengarry Glen Ross is one of my favorite movies ever. The scene with Alec Baldwin is incredible (for those who haven’t seen it… http://www.youtube.com/watch?v=y-AXTx4PcKI )
We still disagree to an extent. I do agree that CERTAIN individuals in CERTAIN business lines feel they need to act in a CERTAIN manner to succeed. The clearly deficient internal and external lack of oversight enables such people to get away with unethical and often illegal behavior.
And I still don’t want to see the middle class get screwed and I don’t think the majority of them deserve to be.
“Biff we are around the same age.”
What, I think you’re actually much older than me, but I let that slide in light of our current cease fire. (Sorry, I couldn’t resist).
“Biff’s point that not everyone in the world of finance is driven by greed and a desire to rip people off”
wasder, and some of us on Wall Street even voted for Obama and are thrilled that he won!
Yeah, its hard to say who is to blame (if that word even applies here) for the price of my house or any other. I bought the house I bought after an exhaustive search of the market and exploration of value vis a vis different neighborhoods (looked in WT, Sunset Park, Bed Stuy etc before buying and remaining in Clinton Hill). But overall are NYC houses overpriced according to most economic standards? They would seem to be. I just hope to be able to be one of the people who says years later “Glad I didn’t overstretch back in the oughts (or whatever this decade ends up being called)”. Jury remains out there.
wasder, the point you made in your first paragraph is exactly the reason I don’t want to see the middle class screwed any more than they’ve already been. It’s people like you, who simply wanted a big enough, nice home for you and your family and are working hard and honestly to obtain that. You didn’t buy out of greed thinking you were going to flip it for a 100% profit in two years. You bought it to live in, presumably for the long term. Did you overpay for it? Perhaps…but whatever you paid was what you thought the home’s value was and obviously you would have paid less if you could have. Who, if anyone, was to “blame” for the price you paid? Perhaps unscrupulous real estate agents who inflated the prices and assured you that you were getting a deal or perhaps other hard working, middle class people with the same hopes and dreams for their families who couldn’t get what they felt they needed for less.
“”Coffee is for closers’
What, what does that phrase mean? I’ve never heard that one before.”
cobblehiller, you have to watch the clip The What posted (I assume it’s the same scene as the one I posted earlier). I could watch that over and over.
“Coffee is for closers’
What, what does that phrase mean? I’ve never heard that one before.
Alec Baldwin
Glengarry Glen Ross
http://www.youtube.com/watch?v=TROhlThs9qY
The What
Someday this war is gonna end..
I feel like jumping in here because my experience with recently buying has made me take a look at my own place in the MRAB. I agree to a certain extent What that everyone holds some responsibility for “buying into” the insanity. And yet, as I first said when I started writing here, what is a guy (or a gal) to do if this is world in which they live? I personally tried to find something that fit my needs that wouldn’t drive me into the poor house. The jury remains out on whether I succeeded but I am cautiously optimistic. I guess what I am trying to say is I know that I had to play by these rules to buy but I don’t really feel like I am complicit in the worst of what has gone down.
Biff’s point that not everyone in the world of finance is driven by greed and a desire to rip people off is obviously a good point and I have always hated lumping everyone together in that world with one brush. Blame needs to be assigned because nobody learns anything if a thorough accounting of the problems is not done. But it does get emotionally exhausting trying to finger culprits. I personally am hunkering down and trying to batten the hatches for whatever lies ahead and wishing everyone else success in the same.
Pretty impressive of you two to be able to get into it like this though.
“Coffee is for closers’
What, what does that phrase mean? I’ve never heard that one before.
“We still disagree to an extent. I do agree that CERTAIN individuals in CERTAIN business lines feel they need to act in a CERTAIN manner to succeed. The clearly deficient internal and external lack of oversight enables such people to get away with unethical and often illegal behavior.”
Biff that’s OK and remember “Coffee is for closers”..
The What
Someday this war is gonna end..
“Biff I disagree with some of what you said. Go watch Wall Street, Boiler Room and Glengarry Glen Ross. There is a mentality that you have to use when working in the Bubble and like Cobblehiller says ” It’s all fun until someone loses a eye”.”
What, I’ve seen all of those. In fact, Glengarry Glen Ross is one of my favorite movies ever. The scene with Alec Baldwin is incredible (for those who haven’t seen it… http://www.youtube.com/watch?v=y-AXTx4PcKI )
We still disagree to an extent. I do agree that CERTAIN individuals in CERTAIN business lines feel they need to act in a CERTAIN manner to succeed. The clearly deficient internal and external lack of oversight enables such people to get away with unethical and often illegal behavior.
And I still don’t want to see the middle class get screwed and I don’t think the majority of them deserve to be.