Big Bucks for Downtown's Big House?
Here’s an interesting solution for the House of Detention on Atlantic that doesn’t involve supersizing the facility: Comptroller Bill Thompson says the city should sell the property, according to an article in today’s Daily News. Thompson wrote a letter to Mayor Bloomberg that says selling the facility, which has been closed since ’03, will bring…
Here’s an interesting solution for the House of Detention on Atlantic that doesn’t involve supersizing the facility: Comptroller Bill Thompson says the city should sell the property, according to an article in today’s Daily News. Thompson wrote a letter to Mayor Bloomberg that says selling the facility, which has been closed since ’03, will bring cash to the city and prevent a reopened jail from damaging Downtown Brooklyn’s economy. “Because our City has already begun to experience economic weakness, communities such as Downtown Brooklyn remain at risk of reversing their economic gains,” wrote Thompson, saying that reopening the jail “would … directly impact the revitalization of the surrounding area.” Right now community members who oppose the Department of Corrections’ plan to double the House of Detention’s size are considering suing the city. We wonder how much a property like this might fetch, and what sort of developer would be interested in taking it on. Guesses?
Sell Shut Downtown Brooklyn Jail to Raise Cash, Bloomberg Urged [NY Daily News]
City Looks to Supersize the House of D [Brownstoner] GMAP
Photo by Funtime Ben.
Read the FOMC statement..the key is in what they deleted “risk to the downside”
The new verbiage is….”readings on core inflation have improved somewhat” and “The Committee expects inflation to moderate in coming quarters.”
What – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bankWhat – the 1930s lacked a proactive central bank!!!!
This is the most fucking stupid ever. I’m done.
The What
Someday the stupidity is gonna end….
1:47 – we disagree that ‘mass layoffs’ are inevitable. First, if the Feds actions (plus the spin) work – then the economy might escape severe downturn and mass firings wont be necessary (except on Wall St – where they already have started and why NYC housing will be coming down)
Second, demographically – in what is becoming the post-baby-boom period, business can not afford to have mass layoffs of their skilled (or even semi-skilled) workforce – it is just to hard to find replacements when necessary. That being said – if your unskilled/uneducated – your doomed – but you already knew that.
What – the 1930s lacked a proactive central bank and was grounded in a US centric ultra protectionistic global economy. you need to throw out your models and put your metal detector on ebay.
2:02 Nobody downsizes unless they have to or want to stupid
Glad you’re able to call the exact movements in the market…get back to your day job
“…what does that indicate to you?”
It indicates that inventory is a lagging indicator and that sellers feel entitled to ever increasing gains. We have to go through this stalemate period between buyers and sellers.
“And if prices fall by 50%, I’ll gladly sell my place and upsize once more.”
No, you’ll downsize. You’ll sell low and buy slightly higher because the market will have bottomed and rebounded slightly.
1:41, so when there are the same number of (or less) homes for sale in BH, CH, and PS than 2 years ago AND when such homes are being offered for (and sold) at prices higher than they were 2 years ago, what does that indicate to you? And if prices fall by 50%, I’ll gladly sell my place and upsize once more.
1:25 – Where do we disagree? The downturn is not YET seen as severe by Joe Six Pack and he is still employed (barely) with a little pocket change to spare. The tactic is working.
Employment is a lagging indicator (especially since the Government is trying to hide our recession). It’s a no-brainer once the mass layoffs come. Why wait until then to be prudent?
Inventory is a lagging indicator, 1:24. If inventory was anywhere near topping out, there would be absolutley no debate.