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]
I mean site.
I think that was Brazen Head bar, dirty hipster.
I thought Floyd’s was owned by the same people who own Union Hall (sight of the last bstoner meet-up).
Not sure, though…
Awk. Ward.
11217, perhaps you can mingle with dirty hipster during a game of bocce.
Isn’t Floyd’s the bar where the owner sits on the community board and tried to get union hall’s liquor license revoked by the SLA?
Floyd’s is fun!
Whoops!!
You sound cute, DH.
Lechal,
I didn’t intend to give offense and hope none was taken. The transactions costs associated with real estate are ridiculous in NYC and I don’t think people always plan for it. It makes an illiquid asset even more illiquid. I’ve purchased real estate in other jursidictions (another country) and the transactions costs were so much smaller.
I bought my house in the summer of 2003 and don’t know if it’s worth more or less than I paid for it. My guess is its value is about the same. For now, it really doesn’t matter. I can afford the payments and plan to live there another 25+ years. If I couldn’t make the payments, I’m pretty sure I could rent the place for an amount that would service the mortgage. Either way, I’d expect to own an asset free + clear at some point 15-20 years down the road.
I think that’s the type of time frame you need to look at if you’re going to own real estate.