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Yesterday’s cover story in the NYT real estate section was downright encouraging, didn’t you think? The gist: There are a bunch of folks who have normal jobs with normal paychecks that have been patiently saving up in recent years as the real estate market zoomed beyond their reach who all of sudden are finding themselves in the position to buy sooner than they had imagined. And faced with the double-blessing of lower prices and lower interest rates, they are even able to afford bigger apartments than they thought. The meat-and-potatoes buyers are coming out right now, said Kristina Leonetti, a broker at the Corcoran Group. And you know what? They are out there actively looking (though maybe not in the Bronx). Confirming something that a senior member of a large brokerage firm told us last week, open houses have been well attended since the start of the new year. Any readers who fit this profile care to chime in?
For the Brave, the Moment Is Now [NY Times]
Photo by Amber Rhea on Flickr


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  1. “Dave, you used to be a lot more even tempered in your comments. Did the bears get to you? Your posts are becoming dull and emotional.”

    Yep that flagpole is all the way up Dave’s ass!! Kinda hurts, Huh.

    Yo Dumbasses enjoy Obama day because you Retards will blame him for everything!

    America home of the Delusional Retards!

    The What

    Someday this war is gonna end…

  2. Miss Muffet, I thought no one ever bought or sold anything in Paris, that they just lived in places handed down by their ancestors, and that the red tape is so enormous it takes ten years to close on a place. What are prices like? Should I give up on Bushwick and buy in the 10th or the 13th, or is it already too late for that? Of course I have a rather nice job in New York but I have always wanted to live in Paris.

  3. Also, DIBS, as has been pointed out here many times, it’s actually much easier to time RE markets than stocks since they move so slowly and the writing tends to be on wall for long time before major shifts.

  4. Sam – do you actually know Paris well? I do, and totally disagree that it’s that much more expensive than NYC, especially when it comes to real estate. Another bogus argument for why NYC prices will hold up – they aren’t, and they won’t.

  5. who cares about the old days and mayor beame? ancient history. what’s going on now is way more interesting. people are into living in the city and find suburban life boring and conformist. This is a golden age for NYC although it may not be so golden for some who live here.
    NYC still has a way to go to match London, Paris, and Tokyo in terms of cost of living. don’t count on real estate becoming too affordable or the Met selling its Van Goghs in order to pay its utility bills, that ain’t gonna happen, this is still big-money-ville, even if some, or many, go broke.

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