Bearish Bob Toll: No One Wants to Look 'Like a Schmuck'
Well, leave it to Bob Toll to cast storm clouds over a Bloomberg news article that contains a slightly positive piece of news—the index of pending home sales rose 6.3 percent in April—about the national housing market. “What people are most scared of is looking like a schmuck,” said Toll, who believes the housing slump…
Well, leave it to Bob Toll to cast storm clouds over a Bloomberg news article that contains a slightly positive piece of news—the index of pending home sales rose 6.3 percent in April—about the national housing market. “What people are most scared of is looking like a schmuck,” said Toll, who believes the housing slump will last another two to three years, at a conference in New York last week. “What do I want to buy a home for and next year be looking at 10 percent less asset?” Economists, meanwhile, incorrectly predicted that the index of pending home sales would actually fall slightly in April. Either way, no one’s taking the news as a sure sign that housing is on the rebound, or that there’s going to be a substantial dent in the 5 million or so unsold homes on the market, or that the foreclosure rate is going to take a nosedive anytime soon.
U.S. Economy: Pending Sales of Existing Homes Unexpectedly Rise [Bloomberg]
Photo by david.
2:29 you are on the money Green=Big cities
Someday this What clutter has to end. They all have one thing in common though…nonsensical ranting and harping on points that haven’t been proven to be correct. Remember, being too early is the same as being wrong!!!
Da burbs are the NEW GHETTOS as there is an exodus back to urban environment – a reverse exurban movement, if you will. Cities are now much safer than the 70’s & 80’s and boomers living in spacious McMansions are finding the costs to heat & cool coupled with high taxes too much to handle as they age. Especially, now that there is no need to pay high taxes for good schools as their kids are grown. Mark these words, prices in the cities will rise & the burbs will become Ghettos. Urban environments are our future. No doubt, son.
Anyway, if you have the means to buy in the city, by all means, do so because prices will rise due to high demand – from abroad & from the suburbs. stay cool, New York!
-The Where
1:31 I agree 100% with you.
2:17 – your headline is a day late and a dollar short. that is an early Easter effect (google it since you’re so up to speed on bbg) and will correct next month. inventory is up in nyc (including bkn), sales are down, prices are down, interest rates on the way up, lending standards tightening. that’s all you need to know.
Robert Toll is actually quite smart. He was selling a lot of stock back during the bubble and was the most candid and up front about it all once it turned down.
“Bearish Bob Toll: No One Wants to Look ‘Like a Schmuck'”
But they (most buyers) still walk, talk and smell like schmucks here in Brooklyn.
“U.S. Economy: Pending Sales of Existing Homes Unexpectedly Rise [Bloomberg]”
Food for schmucks.
What date is this all ending t’What????? No answer as usual. You know nothing.
Someday this war is gonna end.. Asshat.
“I own my own house in Bed-Stuy. No debt and working to throw trash like you out.”
There is about a million Black people in Bed-Stuy. I know you are trying to be “Gangster” behind a keyboard.. Nice way to work on your Karma. You know about “Unemployment”, young Black men are the first fired. Those are the gut that will stick a .380 in your grill or maybe your daughter bring one home. I would love to see the look on your face as He Ray-Jays her!
Get back on that corner and work hard for the money,
That I do!
ghetto ass, before the cops come back and arrest you AGAIN. You are a useless piece of human garbage.
Hey, use the N-word. Don’t be a coset racist, go all the way!
Aw Asshat, Did I touched a nerve? You know the Ghetto will be a Ghetto after this crash. Boo Hoo…
You can’t take the heat t’What, so get out of the kitchen.
I think you can’t ether
Pack your knives and go.
To you house……
The What (I love it, Keep it coming!)
Someday this war is gonna end…
BTW I got you under under my skin…..
I am really confused ! I am starting to feel as if most of the bloggers on this site do not really know about real estate. Robert Toll is not that bright, Yes he is a Wealthy man but that does not make him smart. Toll Bros went into most parts of the United States (Florida, Cali, Arizona) selling the Luxury homes and overbuilt . Then They along with ( Lennar, WCI, Centex, DR Horton) and many others were Left holding the Bag. Now you have some Idiot called the “WHAT” getting recognized in New York mag. “WHAT” in the world does he know? Understand this NYC is not The rest of the Country. Can Our real estate go down ? Of course it can. But if it did go down It would not be much at all. NYC is not the rest of this country. As much as I love the Unites States , The USA is really outside of NYC and San Fran disgusting. If you guys don’t want to buy a home that is your choice but stop all the Bashing. One last thing these People that are going around bashing every area except Park Slope are Paid Bashers. They get paid from the Brokers On 7th ave . Wake up and smell the Coffee.
“Not The What”