Bank Predicts NYC Market to Fall Another 40 Percent
If a certain bank analyst is to be believed, New York real estate has a long way to go still before reaching bottom. A Time article earlier this week cites a Deutsche Bank report predicting that housing prices in the New York metropolitan area will fall 40 percent from their March levels. The major driver…
If a certain bank analyst is to be believed, New York real estate has a long way to go still before reaching bottom. A Time article earlier this week cites a Deutsche Bank report predicting that housing prices in the New York metropolitan area will fall 40 percent from their March levels. The major driver of the bank’s estimate is an affordability index that shows New York is still relatively a very pricey place to shack up.
New York Home Prices Forecast to Drop 40% [Time]
Photo by tomodea
It makes no difference if a house is being purchased to live in or to rent out. If it’s cheaper to rent, the majority will rent. If it’s cheaper to buy, those with the means will buy.
Fundamental economics folks . . .
“Colonel…I don’t rent any of them out (except for the garden apt. here in brooklyn) I don’t care to because they are filled with my furniture and my clothes, etc. I don’t need the money. They are not for “speculation.” I will retire among three of them at various times of the year.”
by Daveinbed
Elstupido you sound like a really smart “money manager”
You people really are not very educated. In order for him to be a speculator he would have to had purchased them with the expectation that they would greatly appreciate in value and or lever them up big time. He just stated that he only has 2 mortgages and both are less than 50% LTV. My grandparents happen to own three homes and they are by no means speculators. They are just people who bought a house in Long Island 60 years ago for $20k and bought a small house in the Hamptons 20 years ago (they inherited the other one).
Something tells me if DB came out with a report predicting an imminent market turnaround, the bulls would not be scoffing so much…
Or better yet, listen to a total fool who can’t even form sentences.
Thats right everybody dont listen to GS or DB listen to el stupido who can not even read a chart.
That’s good, cause I’m not sellin’.
Colonel…I don’t rent any of them out (except for the garden apt. here in brooklyn) I don’t care to because they are filled with my furniture and my clothes, etc. I don’t need the money. They are not for “speculation.” I will retire among three of them at various times of the year.
11217 I choose not to own proprty. Hell i dont even want to any the notes that idiots like you are on the other side of. If you are wondering why the gov has to bail everybody out just look at el stupido and then take a look at yourself in the mirror. You are the problem and you have ruined the free markets with youre liar loans.