Wednesday Links
Park Slope Grocery. Photo by lachance. New Worries on Inflation and Housing Slump [NY Times] Starbucks Shutdown a Grande Pain for NYers [Metro] Markowitz Leads Dems in Mayoral Poll [NY Sun] Part of Coney Boardwalk to Be Wood-Free [NY Post] End is Near for GOP Rule Over Senate [NY Post] Public Place Housing Could Double…
Park Slope Grocery. Photo by lachance.
New Worries on Inflation and Housing Slump [NY Times]
Starbucks Shutdown a Grande Pain for NYers [Metro]
Markowitz Leads Dems in Mayoral Poll [NY Sun]
Part of Coney Boardwalk to Be Wood-Free [NY Post]
End is Near for GOP Rule Over Senate [NY Post]
Public Place Housing Could Double [Brooklyn Eagle]
Atlantic Yards Quietly Scaled Back? [Crain’s]
Ratner Pays D’Amato [NY Observer]
“roubini is always a bear…”
AND PREDOMINANTLY SPOT ON.
“…people just listen to him when sentiment is negative.”
THAT’S THE PROBLEM. BY THEN, IT’S TOO LATE. CARBON MONOXIDE WILL SWALLOW YOU AND THE CANARY.
“kind of how the anon sheep on this blog harp on the flavor du jour and let the commentators do their “thinking” for them.”
KIND OF LIKE THE NY R.E.B., CNBC, THE N.Y.T. AND THE N.A.R. DOES YOUR THINKING FOR YOU. YEAH, WE KNOW EXACTLY WHO YOU ARE – WHAT YOU LOOK LIKE, YOUR ADDRESS, YOUR SS#, ETC. – ALL BECAUSE YOU SIGN “BrooklynLove”. LINK US A PHOTO.
So The What and the other anon naysayers are recommending “The Lemming” approach to real estate – buy when everyone else is buying.
I believe and have made my RE money by pioneering and buying when others are not therefore avoiding price competition and the herd mentality.
But feel free to jump in when every one else is – great plan.
Sneaky Pete
Those areas once upon a time were considered park slope.
if you’re not a flipper, you’re better served spending more time on determining what to buy than when to buy.
roubini is always a bear, people just listen to him when sentiment is negative.
kind of how the anon sheep on this blog harp on the flavor du jour and let the commentators do their “thinking” for them.
“You’re taking advice from “The What?” Just bear in mind, he/she may not be considered by some to be a credible source. That’s all I’m saying.”
JUST BEAR IN MIND, 12:59. NOURIEL ROUBINI OF NYU WAS LONG CONSIDERED A NON-CREDIBLE SOURCE UNTIL RECENTLY. SAME FOR ROBERT SHILLER WITH REGARD TO DOT BOMB (OR THE CURRENT HOUSING FIASCO FOR THAT MATTER). REVISIT THE CONCEPT OF THE CANARY IN THE COAL MINE.
ALSO UNDERSTAND THAT MOST HOMEOWNERS (AN OVERWHELMINGLY MAJORITY ON THIS BLOG) LIKE 1:49 ARE STILL IN DENIAL AND HAVE ABSOLUTELY NO SUBSTANCE IN THEIR ARGUMENTS FOR A SOFT LANDING. THEIR POSTS ARE SHORT AND EMOTIONAL.
ALL I’M SAYING…
C’ING MY WAY IN THIS A & B CONVERSATION…
“If you are saying not to buy because prices are going down, When is the time to buy?”
IT’S NOT A TIME SCHEDULE IT’S A PROCESS. THE MARKET TAKES HOW LONG IT WANTS TO TAKE. EITHER YOU’LL BE PATIENT OR YOU’LL OVERPAY.
“Do you plan to know when the market will be on its way back up?”
YUP. ONE COMPLETE YEAR OF YEAR-OVER-YEAR SALES AND PRICE INCREASES. THAT’S WHEN I’M BACK IN.
“Will you be able to jump in before all the sideline sitters all jump back in at the same time?”
IT’S NOT THE STOCK MARKET. REAL ESTATE MARKETS MOVE VERY SLOW AND THEIR BOTTOMS LAST VERY LONG (I.E. MID 90’S). LOOK AT THIS EARLY CRASH STAGE – EVERYONE’S SLOWLY HEADING FOR THE EXITS (I.E. CASTIMADIS? AND DONALD TRUMP). IT’S NO DIFFERENT AT THE BOTTOM. PEOPLE WILL SLOWLY JUMP BACK IN AS THEY DID IN THE LATER 90’S.
12:59 –
You’re taking advice from “The What?” Just bear in mind, he/she may not be considered by some to be a credible source. That’s all I’m saying.
SNEAKY PETE @ 11:44. RE doesn’t move as fast as the stock market. RE crashes are slow and take years to run their courses. The average cycle is twenty years (i.e. early 90’s to upcoming early 2010’s)
You can call this a down market because that’s where the trend is but you aint seen nothing yet. ARM’s are still ticking, foreclosures and tax liens are still climbing, inventory is still mounting, layoffs haven’t quite trickled down yet, large banks haven’t been seized yet – many shoes to drop. Don’t fall for the dead cat bounce, sucker’s rally.
Well 12:59. You will know when it’s time to buy. The wealthiest people buy things when the have little value and they sell them when there are high.
“Do you plan to know when the market will be on its way back up?”
IMHO, I don’t think we will ever see this Mutant Real Estate Bubble again. I think we are headed to depression of asset prices. We are in the last stages of the BIG BLOW OFF.
“Do you have any value to add besides predicting that the Sky will fall and everyone will be wiped out?”
That’s when the dollars you save will regain their value, just chill.
“What happens if the market doesnt tank? Did you miss an opportunity?”
The only “opportunity” you missed is being a debt slave. Take the extra money and save it. Short term T-Bill and for GOD’S sake don’t cash out your retirement. It’s the only thing thats protected in a Bankruptcy.
I hope this helps.
The What
Someday this war is gonna end…