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“What would be so bad about the real estate market dropping? ”
that sinking feeling your cock isn’t as big as you thought it was these last five years?
What would be so bad about the real estate market dropping?
If you’re renting, you’re good. Either keep renting or you are much better buying now than later.
If your family is growing and you’re trading up, you’re better off. Sure, your 2 bedroom is worth 20% less, but so is that 3 bedroom you have your eye on and that’s a bigger absolute drop. Ditto people moving up from a 1 bedroom to a 2.
If you’re retired and downsizing, you’re screwed — unless you’re moving to a traditional retirement area like Florida, Arizona, LV. All markets much lower than NY.
If you’re fired and you have to move, you’re likely moving to an area much harder hit for far longer than NY since almost all of the US has had it rougher than us.
If you’re staying put, who cares?
If you bought a place you had no business buying in the first place, you’re screwed. And if you were buying in an area you were betting on radically improving, you’re screwed. But those are the people who were placing pretty big bets in the first place.
“This is and always will be the center of the universe good times and bad. ”
yes, brooklyn was an absolute paradise during the 70’s and 80’s…
The DOW would have to come back down to approx 6763 to be back in line with inflation-adjusted historical growth (1.64%) from 1924-present. Be wary all you 8000 buyers.
This guy has a great website for inflation-adjusted market graphs, etc.
http://homepage.mac.com/ttsmyf/recDJIAtoRD.html
The crime rate was pretty low throughout the Great Depression – it has relatively little to do with poverty.
There’s a good argument to be made that crime causes poverty – people who live in a crime-ridden area are unable to sell their homes, run safe businesses, etc. Reduce crime, and people will have a better chance of making a buck.
11217–good point. Also, I meant to stick up for you in the politics thread and fell asleep before I did!
Come Clean: where will you go to Idaho? Nebraska? or the mountains and live like a Hermit. Let us know how those hick police handle the crime . This is and always will be the center of the universe good times and bad.
I’ll be on the 5:10 to Philly today….”fleeing the city!!!”
LOL
“As the economy plummets, the crime rate does the opposite.”
This statement isn’t even true.
The last recession in the United States was 2001-2003, a time when the crime rate was plummeting.