Another Third Quarter Market Report
Douglas Elliman wasn’t the only brokerage firm to put out a third quarter market report for Brooklyn yesterday, they were just the only ones to get it to us ahead of time. Not to worry: There’s nothing earth-shattering in the Corcoran report that finally landed in our inbox mid-morning yesterday, but it does paint a…
Douglas Elliman wasn’t the only brokerage firm to put out a third quarter market report for Brooklyn yesterday, they were just the only ones to get it to us ahead of time. Not to worry: There’s nothing earth-shattering in the Corcoran report that finally landed in our inbox mid-morning yesterday, but it does paint a slightly rosier picture: Median apartment prices rose 8% from $575,000 to $623,000 and price per square foot increased 6% from $627 to $665, according to the Big C’s calculations. Interestingly, after hitting a two year low in the first quarter, the number of condo and co-op sales trended up for the second quarter in a row. Depending on whether you look at average or median prices, 1-4 family houses were either up a little or down a little. You can view the one-page report here.
Yip and yap as you must; and by all means, accept the realty industry’s version of reality; here comes the Brooklyn housing bust, and there is absolutely, positively nothing you can do about it.
Sebb, your childlike demeanor is almost endearing. Have a great weekend. Peace out.
Mmmmmmm, oatmeal.
FatLenny: Dow 8500 again wow I can’t wait .
lechacal : Not to act like a big shot but yes i do have the capital to Buy . Maybe you are the one who is scared because you don’t have a dime to invest in Nyc Real estate if you did you would know it is as solid as the bedrock it sits on. Unless that is you would rather put your money into a property in the swamps of Mississippi ?
FatLenny: Perhaps it will be. Happy to buy at an even lower price. If you are worried about where stocks are going to be in the next few weeks, you are probably missing the point.
Speaking of the market, I just got this in the email.
Stock Market: Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be yet another ENRON. Please review any holdings you might have in the following stocks: American Can, Interstate Water, National Gas Company, Northern Tissue Company.
Due to uncertain market conditions, I advise you to sit tight on your American Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue touched a new bottom today, and millions were wiped clean. It’s a tough market out there. Be careful!
putting money in the market is insane right now, unless you’re buying a short ETF. I bet the DOW is below 8500 next week.
Sebb, now you are saying two completely different things. You are putting money in the stock market (good decision, but doubt you have the capital with as much stress as you seem to be experiencing about housing prices) and buying homes in Brooklyn (I doubt it – you are clearly already pretty spooked about the one you own, but in any event that’s a bad make-believe decision).
“Try eating some Oatmeal and have a Glass of Wine”
Sebb’s best advice ever.