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
11217, reality check, safe to say I don’t think ANYBODY (bear or bull) is envious of your hole in the wall.
“It’s clear they are very unhappy and jealous people, which is the saddest part of all. It makes them sick that I actually LOVE my “hole in the wall.”” 11217
Dave the mere fact that you own 4 homes makes you a speculator. You can only live in one at a time. At any given time the other 3 are investment/speculative properties. What kinda Cash Return on Rent are you seeing on those?
denton, when the fundamentals are in your face like price/income, in this case I’ll side with the big boys and not some 2bit ghetto dwellers like dibs…
I can’t even comment about this anymore, it’s so silly. You own 4 properties, I own 2 (and am in my early 30’s) and these guys think they have all the answers even though between the two of them they own zero property.
It’s clear they are very unhappy and jealous people, which is the saddest part of all. It makes them sick that I actually LOVE my “hole in the wall.” (Which coincidentally was featured in a book on well planned interior spaces a few years back).
Ladies and gents, the tale of the tape!
GS: 40-58% down
T2: 45% down
DB: 40%+ down
11217: Everythings ok because he owns a hole in the wall
Dibs: Sweeps ghetto floor for bitter renters
Whats your prediction(s)?
Posted by: cornerbodega at June 18, 2009 1:27 PM
bodega, stick to stocking the shelves. Like brickoven and his definition of speculation, you don’t know what the “Tale of the tape” means.
Thsese are predictions from analysts at best. Most have been wrong for the past 8 years…on the upside as well as the downside.
Remember when Goldman was predicting $200 oil when it ws $140???
Apply a little analysis and thought instead of just cutting and pasting like your uncle.
corner, when everyone says the same thing, especially the geniuses that brought us the crisis that we are in today, chances are excellent that you would benefit by doing the opposite.
Like I said earlier, did all these guys get their clients in cash 10/10/2007? You do know the significance of that date, right?
11217…he just goes on and on with the same chart. He visits Japan once and thinks he’s got a grip on the property market.
hannible…I know what my living expenses will be in 5, 10, 15, 20 years. You and the renters don’t. If you think Social Security will cover it you’re in for a rude surprise.
Ladies and gents, the tale of the tape!
GS: 40-58% down
T2: 45% down
DB: 40%+ down
11217: Everythings ok because he owns a hole in the wall
Dibs: Sweeps ghetto floor for bitter renters
Whats your prediction(s)?
we dont call him el stupido for nothing