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Sebb–while I appreciate your sunny take to a certain extent, there is a way to engage on this level without making it seem like you don’t see what is going on right in front of you. As someone who just this month bought a new home, I share your enthusiasm for Brooklyn and think that my house is going to be a wonderful place to live for many years. At the same time, it is fairly obvious that the shit has hit the fan economically so the sheer boosterism of your approach wears thin. Somehow we need to find a middle ground between What/DOW style run for the hills and your brand of out of touchness. How about some level headed, how can we keep Brooklyn a great place to live? That’s where I am at–pragmatic solutions for how to keep our neighborhoods strong.
Benson you may be right but expect a dividend cut – you aint collecting 6% if things do not dramatically change
Sebb: People can do whatever they want. I am just telling people what I have chosen to do with my own money. You chose differently, and that’s fine. If you think buying Brooklyn real estate at current prices is a good idea, then…well….good for you I guess. No point in having an angry exchange about it. Time will be an impartial judge.
My Point is you have this CLOWN running around this board telling everyone the sky is falling. He has no (Zero) basis for his comments . He is not taking anything Into his fact finding, Did he realize that Nyc is the Safest Big city in America? Thanks to our Wonderful Police Dept and Police Commish. Then he makes comments that people should wait 1 or 2 years to buy.
So tell me this, I should not buy a 3 or 4 family home, not collect the rents which could be over 100k or 200k a year and sit here and hope the price falls more than 200k? Forget about the tax write off and the fact of renting means i am throwing my money in the garbage.
Yes, May 2007 probably was the top…exactly when I bought my brownstone and sold my Manhattan condo. I think both decisions are proving to be correct.
“The sale went into contract in May 2007”
Thanks for that timely news.
lechacal: You are telling people what to do with their money ! Are you for real? You are telling people not buy homes ? You should be banned from this site.
Art dealer buys Yorkville condo for $12M
Art dealer Dominique Levy
By Adam Pincus
Art dealer Dominique Levy and her partner Dorothy Berwin paid $12 million for a six-bedroom, 5,002-square-foot duplex at 170 East End Avenue in Yorkville, city records show. The sale went into contract in May 2007 and closed on September 24, according to city records published today. Levy is a co-director of contemporary art gallery L&M Arts on the Upper East Side, and Berwin is a film producer.
Lechacal;
I’m with you. Just added to my positions in GE and other quality companies. When you’ve got a great company like GE selling with a 6% dividend, and you’ve got time on your side, it screams BUY, if you’ve got cash around.
e tu, Mr. B.
the site is no longer a safe haven from the financial chaos.
sign of the times.