Wednesday Links
Federal Retreat on Bigger Loans Rattles Housing [NY Times] Controversial Takeover of MetroTech BID Approved [NY Post] Rooftop Films Lands a New Role [WSJ] Report: Rents Up in Bed-Stuy [BS Patch] Fewer Geese in Prospect Park [BK Paper] CB1 Supports OSA Concerts [Brooklyn 11211]
Federal Retreat on Bigger Loans Rattles Housing [NY Times]
Controversial Takeover of MetroTech BID Approved [NY Post]
Rooftop Films Lands a New Role [WSJ]
Report: Rents Up in Bed-Stuy [BS Patch]
Fewer Geese in Prospect Park [BK Paper]
CB1 Supports OSA Concerts [Brooklyn 11211]
Now you’re getting it.
it seems you have two problems. You obviously don’t know what places sell for in bed Stuy and you’re not good at understanding the computation of an average!!!
Have a nice day. perhaps comment in a restaurant thread even though you haven’t been to it!!! 🙂
Dibs: The Furman Center is wrong! I am right.
Me: What?! OK, dingbat.
Dibs: don’t be a pompous windbag.
Me: huhuh.
If the nicer houses can be had, somewhat rehabbed, for 450K, where does that put the ugly houses that need a gut?
Obviously you really don’t know the neighborhood, but do continue.
Nicer houses actually go for $700-850,000 and the ones needing the rehad are in the $400-500,000 range. But obviously you know better. Thanks.
Maly…given the numbers you quoted me, the “averages” do not work.
So far, the only things subjective were the numbers that you quoted, which I used to show that the averages can’t possibly be right.
it has nothing to do with anyone’s ego so why sound like such a pompous windbag?????? But please, don’t let it bruise your ego.
While it’s nice to have a solid ego, it takes some super-size balls to take your own subjective observations over data from the Furman Center. I am sure there is a possibility for error, but not by such a margin. Bed-Stuy is ground zero for mortgage fraud and foreclosures in Brooklyn. If the nicer houses can be had, somewhat rehabbed, for 450K, where does that put the ugly houses that need a gut?
Grand Pa – I doubt prices will adjust much when the FHA upper limit is reduced. What will happen is the percentage of homeowners from lower income groups will fall, and there will just be more landlords, or landlords with more properties.
Dittoburg-
Without the guaranties, prices will adjust to reflect people’s incomes. That is the solution in a free market economy. A solution that will in the long run lead to the most efficient allocation of resources. Propping up one asset class at the expense of other sectors of the economy has been detrimental to the long term health of the US economy.
“There are tons of houses in Bed-stuy that sold for 140-240K last year.”
Still not low enough to bring the average down to “$161,667 in 2010” as the “research” states.
The data is fucked up in some way. I suspect none of the people doing the survey work own real estate and have a clue what they may be seeing or measuring.
There are tons of houses in Bed-stuy that sold for 140-240K last year. Most get sold to investors who slap some paint, make sure the faucets work, apply a coat to the roof and then flip it for 400-500K.
They’re not in the fanciest part of Bed-stuy, and it might be hard to beat the insiders on the best REO deals, but they’re out there even now.