Quote of the Day
I think we forget, with all of the negative doom and gloom in the media, that many people are still doing well, many people are in jobs that are thriving and, gasp, growing, and many people are doing what they would have been doing had this mess not occured. People are still moving to NYC…
I think we forget, with all of the negative doom and gloom in the media, that many people are still doing well, many people are in jobs that are thriving and, gasp, growing, and many people are doing what they would have been doing had this mess not occured. People are still moving to NYC to follow their dreams, and people will still buy apartments and houses in the neighborhoods they want to buy in. Seems to me that our media’s hyper attention to the minutia of every stock market jiggle, every business decision, and especially every business and personal disaster story, has turned us into a nation of hesitating, reactive, quivering masses of jello. (Continued…)
— by Montrose Morris in Hey, Something Sold!
I’m not saying it’s not bad out there, believe me, I’m experiencing it, as are friends and family. Would that the media, Congress, the SEC and others who are supposed to be watching, had spent as much ink and pixels on preventing what was preventable, instead of wailing that life as we know it is over. It will indeed be interesting to see how that translates to real estate transactions in Brooklyn. I don’t think we are immune, but as we see from the Forum, and from sales, people have bought in this market, and will continue to do so, albeit more slowly.
Just blathering on to basically say, I’m glad this sold, it sold quickly, and let’s keep it going. Good news for buyer, seller, real estate broker, attorneys, movers, handimen and perhaps contractors, decorators, and more.
DIBS – don’t worry. everyone on here, the media, economists, the fomc, smart money investors – all of them are wrong. you and your posse know more than all these “professionals”. you will get that $2000 for your 1br in the ghetto sooner than you think. just keep believing. asshats be damned.
I think the qotd is overly simplistic and not 100% on point- but I do agree that a large part of the crisis is driven by consumer confidence, which is related to the point being made. People are scared and they spend less- even if they have jobs because they’re afraid they’re going to lose their jobs- and after they saw the 40% decline in their 401(k) and realized they are actually living paycheck to paycheck- people woke up and started saving. Ironically, saving is happening at a terrible time. We are generally a consumer driven economy and we need people to buy DVDs, go to out to eat, buy clothes etc. In a perfect world people would save when times are good- but not everyone is like the ant. Most of us are grasshoppers.
DIBS- cornerbodega has eaten the jello, methinks. Obviously he didn’t get the real point of MM’s post- that news headlines sell, and they don’t tell the whole story. If I lived my life by the headlines I’d never leave my closet, let alone my house.
The sad fact is that economic downturns really do increase the disparity between the rich and poor/middle class. The reason is simple.. while the middle class and lower struggle to pay their bills and are living paycheck to paycheck those that have abundant savings and a nice income can snatch up the great deals, low prices, low interest rates etc and increase their wealth.. not necessarily at the expense of the former .. but still it widens the gap..
cornerbodega again shows how much of a moron he/she really is. Could you actually comprehend the sentences???
What a dumb ass qotd. Infantile, moronic and just plain asinine. Is this whats required for qotd?
I will never understand how a depression is a media inspired self-fulfilling prophecy. The media is usually running behind the curve not creating it. For starters, the media calls what we are in now, a “recession” or a “downturn”. This economic can’t compare to the Great Depression for good reason and not because we’re better off. We’re worse. I don’t think the sky is falling but I do think people should be scared and sometimes I think we should actually THANK media outlets for making people realize what is going on. The GDP, unemployment #’s, etc. mean nothing or at least not the same thing as in 1929 because the numbers are being massaged and spun.
Yes, some people will always do well in the face of adversity but it doesn’t mean adversity doesn’t exist or the impact is lessened for the people who are being whipped by it.
On the NYS unemployment system, which crashed on Monday & Tuesday due to a surge in demand:
“As many as 10,000 people an hour tried to log into the system to file new unemployment claims or to check on existing claims”
http://www.nytimes.com/2009/01/07/nyregion/07unemployment.html?_r=1&ref=nyregion
Keep trying to convince yourself it’s just Wall Streeters, and that everything is fine…
we are at war and will continue to be for a long time because there is a community of terrorists who want to kill us.