Thursday Links
A Bolder Latin Beat in Brooklyn [NY Times] The Week in Fort Greene Crim [NY Times] Brooklyn Shows Its Appeal for Buyers [WSJ] DOB Lays Off Workers Due to Budget Cuts [TRD] Sunset Park Head Start Program At Risk [NY Daily News] DA to Investigate Vespa Mom Death [Brooklyn Paper] Calexico Cart Open at Brooklyn…
A Bolder Latin Beat in Brooklyn [NY Times]
The Week in Fort Greene Crim [NY Times]
Brooklyn Shows Its Appeal for Buyers [WSJ]
DOB Lays Off Workers Due to Budget Cuts [TRD]
Sunset Park Head Start Program At Risk [NY Daily News]
DA to Investigate Vespa Mom Death [Brooklyn Paper]
Calexico Cart Open at Brooklyn Bridge Park [Brooklyn Eagle]
Community Meeting Held Re: 81st Precinct Practices [NY1]
Photo by Billy Pavone
That dude who sent his Rolex to Nigeria should be put in a care home where people can look after him.
Oh, mopar, I thought you were referring to the ’81’ in that first sentence. I was like “how the hell does that show up in the WSJ?”
But the numbers do support my claim. Rate of change in overall prices (like ball thrown up in air still rising towards highest point but slower and slower, negative rate of change, until it reaches that highest point and then falls) is bearish. Ever take physics?
No, same thing did not happen in the 80s/90s. Case-Shiller bottomed at only -15% from peak. That was just a cute little recession. This is a depression (because we’re deficit spending over 10% of GDP). Case-Shiller is now at -20% and “double dipping”.
Yes, you can PREDICT the future. You have to in order to manage your personal finance. You just can’t TELL it (I know that’s what you meant – just clearing it up). That’s already understood no matter my madman style. But remember, I was a madman when I predicted support levels of DJIA 8,000 and S&P 800. Turned out I was optimistic.
***Bid half off peak comps***
Good lord, I didn’t mean the numbers support YOUR claims either, BHO.
20 percent down in prices in “prime” areas matches my predictions from the beginning. The same thing happened in previous downturns, such as the crash in the late 80s and early 90s.
‘Course, that doesn’t mean we couldn’t have a double dip. No way to predict the future. I’m not a madman like you, BHO.
the dude who got water thrown into his face and got bike taken – please tell me it was more than just the water in the face else this will inspire other thugs to start trouble cause there are such super easy targets out there
Re: Brooklyn Buyers
“Moving there was a ‘no brainer,’ says Mr. Deitsch, the owner of Reverberate Marketing Communications. ‘That’s where all the cool stuff is moving to.'” – WSJ
Cool stuff? Such bullshit. Yo’ ass KNOW you would have stayed in Manhattan if would have found your dream PSF.
“Prices were also higher, with the median price gaining 5% in the second quarter to $463,000 from a year earlier. While that shows strong improvement, median prices remain 20% below peak levels in 2007.” – WSJ
Oh! So Brooklyn prices were actually down -24% from peak, worse than Case-Shiller! And all temporary stimulus did was bring it back in line with the index. What a waste! Shoulda rehabilitated roads, bridges and highways.
“…buyers are confident that the worst of the financial crisis has past and they don’t believe that prices will decline in the future…” – WSJ
http://tinyurl.com/24vggzb
“For the city overall, results are mixed.” – WSJ
versus
“We’re at a point now where, for the most part, things are not getting worse” – WSJ
Which one is it, Jonathan Miller???!!!
“caution remains as the national economy works to avoid a double-dip recession…Unemployment persists, keeping many would-be buyers out of the market…credit requirements remain tight, particularly for jumbo mortgages on bigger-priced purchases, which account for the bulk of the New York City market…sale contracts were signed months ago…sales may have slipped in recent weeks, although that data won’t be released for months.” -WSJ
So shit right now does not look good despite unprecedented stimulus and will likely be worse by the time data collection catches up.
“240-unit project [Toren] that is nearly 65% sold” – WSJ
How many “sold” actually closed? And of those which closed, how many are FHA (the new subprime)? Can we get those numbers, Ms. Connolly?
“While sales also surged in the upscale Northwest section, it wasn’t enough to boost prices. The area, which includes popular Park Slope and Red Hook, saw a 3.4% price decline from a year ago.”
But but but 11217 said…
“In East Brooklyn, the median price dropped nearly 17%. That region, including Crown Heights and Bedford-Stuyvesant, has been hard hit by the foreclosure crisis, depressing prices. It is also closer to Long Island’s Nassau County” – WSJ
Closer to Nassau County?! Ha ha ha! Such bullshit! Try closer to Clinton Hill and Prospect Heights which will be directly affected buy such comps in domino fashion.
“‘It’s [East Brooklyn] less of a bedroom community for people who are [working] in Manhattan,’ said Prudential’s Mr. Guerra.”
More bullshit! Right, daveINBEDSTUY? Love the spin. I’m gonna love the tailspin even more.
***Bid half off peak comps***
Yeah, rob. STFU. S’il vous plait.
ignore my last comment, headstart / preschool is actually really good for kids regardless of who pays for it.
*rob*
“headstart programs at risk”
um, im sorry, but if you cant afford a kid, then dont have one. dont expect taxpayers to pay for your precious little mistakes. and yes i KNOW if you have a kid in headstart you are probably working yourself, except you are probably getting benefits out the ass in conjunction. BARF
*rob*
The numbers in the WSJ story seem to contradict its thesis.
Re 81st precinct: So glad Vann called this meeting, but the situation is confusing. It seems the biggest problem — based on what I hear from residents — is that police are doing too little to reduce crime, not too much. I don’t know what the solution is, but maybe “stop and frisk” violates everyone’s civil rights while not really having an impact on criminals? In my own area, I wonder if foot patrols from 7:30 pm to 6 am might help. They don’t actually have to DO anything, they don’t need to bother residents, just be there.
Also, I wonder if handing out tickets for double parked cars would cut down on drug dealing, or if it would have other unintended negative consequences — such as disabled people not being able to get into their houses or drug dealing moving somewhere else and worse.