Foreclosures in Brooklyn Up Slightly But Still Low
The number of foreclosures in Brooklyn ticked up slightly in May, according to PropertyShark.com, a trend exhibited in Queens but not the other three boroughs. The 21 foreclosures in Brooklyn last month was the highest number since November though well below the monthly average for 2008. Meanwhile Queens continued to dominate the city’s foreclosure scene…
The number of foreclosures in Brooklyn ticked up slightly in May, according to PropertyShark.com, a trend exhibited in Queens but not the other three boroughs. The 21 foreclosures in Brooklyn last month was the highest number since November though well below the monthly average for 2008. Meanwhile Queens continued to dominate the city’s foreclosure scene with a total of 201; May also marked the first time that the top 15 zip codes for foreclosures were all in Queens. Brooklyn’s per household foreclosure rate remains a low 0.002% as compared to 0.001% for Manhattan, 0.004% for the Bronx and 0.017% for Queens.
“s that when there is data going the other way, you tend not to engage directly with it with a reasoned interpretation supporting your view, or different data.”
I live in Asshat Hill Slopefarm. I see empty Condo developments! I walk from my house to Bed Stuy (The area where the funeral for the slain Cop was, I counted 15 store fronts for rent! I saw no Gentrification active in the area and it look like nothing has changed. I don’t need “data” when I have reality to look at. Most of my friends and family has lost or will lose their jobs. This whole thing is a Hi-Jack job by the Kleptocracy and the sheeple is will participants in their own demise.
“Today is an excellent example. Based on the data posted today, foreclosures in Brooklyn are quite low and relatively flatlined. That would seem to suggest that, in the foreclosure realm, Brooklyn is holding its own and not tanking.”
Remember the moratorium on foreclosures by Obama??? Well since the “programs” only help a few the Banks are now going into high gear on foreclosures again!!! Wait until this fall and the numbers are going to ramp very hard. You are in the eye of the storm but there are many hurricanes just out on the coast! Our Banking system is still insolvent and until you write off the bad loans things will be the same.
“But you seem to want capitulation to your view and everyone who doesn’t is an asshat/retard. ”
Read this and get back to me!
Austrian School
http://en.wikipedia.org/wiki/Austrian_School
The Austrian School (also known as the “Vienna School†or the “Psychological Schoolâ€) is a heterodox school of economics[1][2] that emphasizes the spontaneous organizing power of the price mechanism. It holds that the complexity of subjective human choices makes mathematical modelling of the evolving market extremely difficult (or “undecideable”) and advocates a laissez faire approach to the economy. Austrian School economists advocate the enforcement of voluntary contractual agreements between economic agents, but otherwise caution against the imposition of coercive force (especially coercion by government fiat) on commercial transactions.
The What
Someday this war is gonna end…
Well said Slopefarm. What is amusing at times and like usual scam artists throws around the odd fact here of there in a vain attempt to prove authenticity.
DIBS – keep up the good work on keeping these bears in the real world. Long term tax advantaged real estate investing is a winner in NYC. If others wish to ignore that then so be it.
As for financials having a weak 2nd qtr that’s very much mistaken. You are going to see some stellar numbers, some will be even better than Q1. Why ? Bid offers are still wide across almost every asset class and there are fewer players on the street. Just look at the equity issuance the past few weeks.
What,
Thanks for the post and I appreciate the tone. You cut and past some articles with some data on some topics and others post other data. Your view seems to be that the economy is going to hell in a handbasket, never to return, and Brooklyn RE is permanently tanking along with it. Others disagree. I tend not to opine directly on the economy, but I do like data. My beef with you, and it isn’t personal, is that when there is data going the other way, you tend not to engage directly with it with a reasoned interpretation supporting your view, or different data. You just go nuclear with the argument.
Today is an excellent example. Based on the data posted today, foreclosures in Brooklyn are quite low and relatively flatlined. That would seem to suggest that, in the foreclosure realm, Brooklyn is holding its own and not tanking. If your answer is, well, I’ve posted other data on the economy and we are all going to hell in a handbasket so it doesn’t matter, you may be right or wrong but it is not a logical discussion with which anyone can engage. I find it frustrating to engage in an econ discussion with you because I find I am looking for back-up on specific points, but you always go kind of nuclear. I don’t necessarily agree with DIBS on the economy as opposed to some of ther bears. But when DIBS posts data, he usually accompanies it with a close read and logical interpretation. I would love it if you got in there, mixed it up, and took a close look at data, including data that would seem counter to your view. Then we could have an interesting discussion. But you seem to want capitulation to your view and everyone who doesn’t is an asshat/retard. That’s a pointless discussion in my view.
Lets see, the bubble took over 5 years to fill up and pop, and after only a fews months to the nyc downside Dibs is claiming victory. I love this guy! How dumb can you get? LOL, wait, I keep forgetting he bought at the top of the bubble in the ghetto.
Slopefarm day after day, time after time I post stories from Main Stream media and still everyone is so incredulous! We are in worst economic times since the Great Depression! Runaway Government Spending, Insolvent Banking Institutions, Collapsing House prices, High Unemployment and lost of spending power. Do I need to go on and on???? You want facts and figure but there is so much obfuscation going on I think we live in “1984”!!!
It’s real nice after the biggest stock market crash (’08) now everyone needs “Data” for the bears to make their point!
Now pay attention– June 09 will be the last month of Bullshit for a long time! July 2nd quarter reports are going to bad. The MBS and CMBS Markets is going to blow up and investors will require high interest rates for risk! Citibank, Wells Fargo or Bank of America will have a aneurism, they can’t hide the losses no more and then the fall comes….
The What (Carry on!)
Someday this war is gonna end…
I ignore the facts and apply foreclosure rates from another borough, city or state to Brooklyn. It is the only way I can support my assumptions.
I ignore the fact that foreclosures in this city affect Black people more than the Asshats (read: white people with a lower case “w” since I am a racist). I wish the houses I sold them during the bubble years didn’t destroy their financial well being, credit ratings and hopes for a secure future. Luckily, I feel no remorse. I have no feelings except rage at those who don’t listen to and agree with me.
slope…I enjoy banter, discourse, arguing and even worse with the What. BHO is just a troll.
DIBS,
We lawyers have a saying: “Argue the facts. If you don’t have the facts, argue the law. If you don’t have the law, argue the policy.” BHO/What needs a better roadmap than he’s using now of what to argue when he doesn’t have the facts at hand. There is room for data driven discussion and opinion on all sides, given the many indicators and driections they are pointing. But you are right, the above exchange on foreclosure data wasn’t a discussion and prolonging it seems pointless.
I made some overtures to what shortly after the last gathering, at least to reassure him that it is not personal with me, just a chance to debate and banter. This was following a discussion I had with Biff and cobble that it was a good thing that they and what have established some kind of rapport, and it was worth it for more of us to try. But I still seem to get my head bitten off just for disagreeing and challenging for back-up, even though I haven’t made it personal. I don’t call what names (except when I call him BHO) or engage in ad hominems. I might continute to try to banter with what on the OT when he’s more jocular, but I think meaningful debate on economic data is pointless. I care too much about reading data closely and sticking to a logical framework. But hey, that’s just me. I’m going to try to take the bait less than I used to.
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