Babs Corcoran "Not Worried About Real Estate Prices"
She’s not worried at all, in fact. That’s what she told AMNY in an interview. Also, her advice: buy now. “Real estate will be more expensive once again, and everyone will look back and say, ‘Why didn’t I buy then?’ Because the truth of the matter is these are the good ol’ days everybody dreams…
She’s not worried at all, in fact. That’s what she told AMNY in an interview. Also, her advice: buy now. “Real estate will be more expensive once again, and everyone will look back and say, ‘Why didn’t I buy then?’ Because the truth of the matter is these are the good ol’ days everybody dreams about.”
Prodigal Son–that clip is hilarious.
Ms Muffett not to worry Bab is only doing her job you know. We expected nothing less from her after all she “earns” her living on sales commissions. As someone else said above “Babs is a living advertisement. Walking propaganda if you will”.
We read something in the NYTimes the other day to effect that during a depression if you have money you can afford more i.e. be patient my dear and you will have your choice of brownstones @ discount prices…ca sera une belle affaire ma chere 🙂
Well, prices have NOT come down. Barbara Corcoran is full of s*#t. Most people who actually follow the market can see this. A 10-20% price cut over a ridiculously inflated asking price IS NOT equivalent to prices coming down. NYC still has a ways to go before it’s the “good ol’ days everyone dreams about.” People are not that naive.
Ah, Ms. Corcoran, the lady who recommended that we pave over our front yards to increase the value of our homes. It all comes back: I Photoshopped her head being extruded from the chute of a cement truck for my blog. Perhaps the houses thus entombed from curb to foundation walls in a good thick layer of asphalt will be the very ones to hold their value after all, as they provide a final resting place for the last generation of Hummers to rust on.
Ghastly woman.
” I hear the fed is also buying our 10 yr treasuries to bring down long term rates. ”
WRONG This is flight to safety!!!!! There is fear and blood on the floor!
” This is the classic definition of Monetization which is printing. The tarp money will come from borrowing. But how did they allow Wells that 100 billion write off for Wachovia. That has been done yet they aren’t selling any bonds to cover that. Dudes all the gov guys are sophists and will do anything to confuse you.There is a reason their is no transparency. Allan Greenspan was the biggest of all sophists…”
You cannot make anyone loan you money or make some borrow it and if you aretrading with this thesis you are going to get a live chainsaw shoved up your but! You trading account will be a smoldering ruin and you will say ” I should’ve listen to that whack job”
Be very very careful Hobo.. Listen to people with track records…
The What
Someday this war is gonna end…
benson,
They are both a bit absurd and I wouldn’t take real estate or investment advice from either one. But I vote b). When BC starts posting three times daily on the brownstoner forum pages with photos of nuclear tests and starts swearing like a sailor at anyone on this site who dares to suggest that she is a little bit absurd, I will switch my vote.
As for inflation , yes it is dead at this moment. But it will come alive as soon as we debase our currency which is what we are doing now. Though all other countries are doing the same thing so we will see if inflation comes about. It may take years, it may not. We will see. The difference between what we have today and the great depression is that we were on the gold standard back then and we cut the money supply. We aren’t doing that rite now. But the stock market will take us where we are going. If it keeps crashing than deflation will last very long, if the market stops going down because of all the government intervention ,than we will get inflation at one point.
This could take 5-10 years though. If you look at the 70’s we had a similar scenario. They debased our currency and we went from deflation to stagflation. This too could come. Deflation in certain assets and inflation in others. This is probably the worst of all outcomes.. It all depends on what the government does.
denton- 35K. Fair enough. But remember just how -awful- Clinton Hill was in 1973.
You’d likely get stabbed 35 times walking home from the subway.
Thats ~thirty~ five~ times.
Good point! That’s p~o~i~n~t.
Mr. What , yes they are printing or monetizing. I will explain. Any time the fed goes and purchases worthless securities as collateral, puts money into banks that have no way of paying this money back, gives Wells Fargo 100 billion dollar tax exemption to purchase Wachovia they are printing. I hear the fed is also buying our 10 yr treasuries to bring down long term rates. This is the classic definition of Monetization which is printing. The tarp money will come from borrowing. But how did they allow Wells that 100 billion write off for Wachovia. That has been done yet they aren’t selling any bonds to cover that. Dudes all the gov guys are sophists and will do anything to confuse you.There is a reason their is no transparency. Allan Greenspan was the biggest of all sophists…