Case-Shiller: November Crappiest Month Ever
Prices for homes in the New York area declined at a faster rate in November than in any other month on record. According to the S&P/Case-Shiller Index, properties within a 50-mile radius of the Big Apple declined 1.6 percent between October and November and 8.6 percent year-over-year. The news wasn’t all bad though: New York…
Prices for homes in the New York area declined at a faster rate in November than in any other month on record. According to the S&P/Case-Shiller Index, properties within a 50-mile radius of the Big Apple declined 1.6 percent between October and November and 8.6 percent year-over-year. The news wasn’t all bad though: New York prices are still up 87 percent since the index started in 2000. New York also had company in the misery department: Atlanta, Boston, Charlotte, Chicago, Dallas, Portland and Seattle all had their worst months ever.
City Sees Record Home Price Drop [The Real Deal]
Home Prices Fall at Record Pace [CNN]
NY Home$ in Record Plunge [NY Post]
Home Price Index Fell Again in Nov. [NY Times]
Christopher:
You’re entitled to your opinion but I still don’t agree with “eventually there will be an upswing. It will happen. Always does…” Again, it’s very likely you’re right, but as the old brokerage commercials used to say “past earnings are no guarantee of future returns.”
By citing US dominance for the last 100 years, I meant to suggest that this is a very, very young country–our entire history is a drop in the bucket compared to other past economic superpowers. Many of them lasted a lot longer than ours has so far, and some went from the dominant economic force to nearly Third World economies. I’m not saying that’s going to happen to us, but it’s not impossible.
“The whole DOW8000SP800 thing went to my head.” That was good. I gave you props for that at the time.
You see, this is the problem. As a working stiff parent type I no longer get these memos. Maybe I don’t even know what a hipster is (although just in case I leer at anyone with a bowler hat and an eating disorder).
There are hipsters in Park Slope?
“IMHO you are easily the most egotistical poster on this board.”
I’m a victim of my own success. The whole DOW8000SP800 thing went to my head. Please Lord, let me be wrong about home prices! I HATE THIS PERSONALITY!!!
***Bid half off peak comps***
I think I’m single-handedly keeping 7th Avenue Wine and Liquors opened with my Jameson purchases.
Lechacal,
As Wasder says, Union Hall has never been a “hipster” hang out.” It’s been preppy guys and gals since it opened.
The “hipster” places in the neighborhood are Commonwealth, Buttermilk, Pacific Standard, 4th Avenue Pub, Bar 4, Sheep Station, Barbes, Alchemy…and to a lesser extent Cherry Tree Bar, Flatbush Farm (Barn) and Bar Reis.
Definitely NOT Union Hall. In the summer there are a few more “hipster” types, but winters are filled with the Yale graduates and such. I was there with my straight female friend from out of town and it was much more her “scene” than mine.
Was union hall ever a hipster hangout? i think you might of had it confused with union pool lech.
Greenwood you said “Yes, the U.S. has come through some very bad economic times in the past and there’s a very high probability it will again. But you’re “sure we’ll get through this as well”? I’m not being sarcastic or snarky when I say, may I ask why?
Just because the U.S. has been the world’s primary economic and political power for the past 100 years, doesn’t mean it will be so forever, despite the nonsense that Bush and Obama said about us being Jesus’ favorites or something like that…”
I never said we would always be the primary economic and political power, I just said that this downturn will level off, things will maintain for a while, and eventually there will be an upswing. It will happen. Always does…
The only way a turnaround wont happen is if people stop working, stop trying to look for work, stop trying to improve their lives, on so on. It wont happen if the masses sit back and wait for a govt check and have no desire to ever get past a handout. As long as there is a determination to improve, a work ethic, and a desire to be independent, and pride in personal success this country will always survive and will always rebound.