Quote of the Day
I pick cereal very quickly thank you very much. Just don’t want to pay a crazy price when I am literally seeing price cuts in the hundreds of thousands for some properties we’ve looked at (but rejected for other criteria). There is basically unanimity that prices will go down in 2009, and possibly through to…
I pick cereal very quickly thank you very much. Just don’t want to pay a crazy price when I am literally seeing price cuts in the hundreds of thousands for some properties we’ve looked at (but rejected for other criteria). There is basically unanimity that prices will go down in 2009, and possibly through to 2010 and beyond. We only sold a few months ago, and the meltdown happened, so we’re just actively looking, but not rushing. We have a list of flexible criteria for the property we’re seeking, of which price is just one element – but since price impacts so many other parts of our lives – esp time spent with our kids! (big mortgage = more hours working to pay the bills), price is a major criteria, esp in an environment when prices are headed down.
— by Miss Muffett in Last Week’s Biggest Sales
First japan’s bubble was much bigger than ours. Prices at the height of their real estate bubble were in some areas 150 grand a square ft. Yes that is correct and not a typO. Second they have a totally different culture than ours. Third, they didn’t have the rest of the country easing at the same time as them. Fourth nobody besides the japanese want to live in japan. With all this easing its hard to not see inflationary pressures in the future. Sure it will take a while becuase the consumer is tapped out. This will help but it will take time. House prices will keep coming down especially where rents don’t justify the asking price. My home is only worth 500k yet I receive 3500 a month from my rents. Easily enought to pay my mortgage and taxes and have some money as profit,thats if i had a mortgage. I see homes that would not rent for 3500 selling for 1 million plus in some areas of Brooklyn. Those will at one point sell alot lower than they are now. Keep in mind that if the USA government does get inflation back into the scene than holding your house will protect you from the dollars fall. Though that may be years away.
“has just raised taxes and fees on about eighty common consumer items from soda to ipods to cable and cabs.
This will sink NY faster than an iceberg.”
Yeah, spending $1.38 on a $1.25 Mountain Dew will turn NYC into a ghost town in days flat. Or that $99 iPod nano going up to $106. THAT will just bury the city. What WILL WE DO?
Inigo : my friend i am very familiar with Miami Beach South beach and Miami. As a matter of Fact Miami beach just ranked #50 on the FBI most dangerous list, Miami ranked even worse and Miami Gardens ranked #13. BTW the people you say have all that money and Yachts and stuff are all fake who live off of credit . But guess what they are cooked now.
sebb is obviously about thirteen years old, let him be.
The important news today is that Gov. Paterson (recently impersonated so brilliantly on SNL) has just raised taxes and fees on about eighty common consumer items from soda to ipods to cable and cabs.
This will sink NY faster than an iceberg.
People with know-how will leave.
That will leave the old, the young, the poor, and the over-taxed who are a step away from being poor.
Good night New York, it was swell while it lasted.
“The million dollar homes in Cobble Hill in 1997 were $335,000 in 1992.”
And 125K in 1982
The million dollar homes in Cobble Hill in 1997 were $335,000 in 1992.
Yes, there were some pristine townhomes in Cobble Hill and Brooklyn Heights (and even sparsely scattered throughout other areas) for those prices in 1997 Sebb – but not common 4 story fixer-upper crap or 5 family conversions like they are asking those prices for today and for the past few years. I’m not saying there weren’t million dollar homes here in 1997, but those were by far the exception and were very grand in size and finishes on the best blocks. I can tell you in most areas of Brooklyn and Queens in 1997 you were looking in the 70-250 range at most for your typical 3-4 story 2 family townhouse. I sold a many of them for those prices. Of course I don’t know why I’m bothering to feed a troll. Put your money where your mouth is Sebb. Come on over to Ainslie street. I’m sure my neighbor would love to talk to you and you can make a million in a year on his old wooden framed house just like you say.
sebb, i think you are humorous, and I think you have not been out of brooklyn much. Miami beach is fabulous, if you haven’t been you should go. In your first posting you called it South Beach, but you know South Beach is just the relatively small historic district there. It has all those incredible Art Deco buildings as well as the mediterreanean style villas like the one Versace owned. Maybe you are confusing that with the greater city of Miami beach, not to mention the enormous Metropolis of Miami. Anyway, north of the two-mile strip that is the “Art Deco District” is the modern city with highrises along the beachfront and beautiful homes facing the bay. Compared to Brooklyn, which I love, but you know, is Brooklyn, MB is OZ. really it is just beautiful and the beach is beautiful and the folks on the bay have their yachts parked in their back yards, it really isn’t poor and squalid if that is what you mean by Third World (there are loads of very wealthy people and exquisite communities in the Third World but that is another lesson).
by: williamsburgguy: Townhomes in Cobble hill were going for over a million in 1997. Your information is wrong.