Foreclosures: Same Book, Different Cover
This colorful map, published yesterday in New York Magazine, doesn’t tell us anything we didn’t already know, but it does it with better graphic design. The bottom line’s the same though: Bed Stuy, Crown Heights, Canarsie, East New York and Brownsville are all getting whacked the hardest by the growing wave of foreclosures. The red…
This colorful map, published yesterday in New York Magazine, doesn’t tell us anything we didn’t already know, but it does it with better graphic design. The bottom line’s the same though: Bed Stuy, Crown Heights, Canarsie, East New York and Brownsville are all getting whacked the hardest by the growing wave of foreclosures. The red zones all represent zip codes with at least 150 foreclosure filings.
Artifact: Foreclosed [New York Magazine]
AHHHHH! ALL VERY FUNNY! You are all giving me a chuckle! I had better get dinner on the table though…
Mr. What has a great sense of humour!: “BTW If I’m not posting on this site, Brownstoner.com will be very boring”…and so well written compared to his rants! I LOVE it! You’re a scream! Though…Dearheart, I wouldn’t mind a little less of the swearing. It’s very off-putting and doesn’t do any of your arguments any service.
So…if people keep their jobs and don’t have “salary side”, most people who can afford their mortgages/taxes/etc. now should be okay going forward, no? Maybe, (Mr. What, care to comment?) people who “paid too much” will be in a bind and not able to sell…but what if they can stick it out?
All in all, maybe we’ll have people walking away from their homes and the banks will eventually sell off these properties for less to recoup something back. The level of housing pressure seems high enough in NYC, even if people get laid off noticeably in the next two years, that properties in Landmarked Brooklyn will not languish empty for years? Or am I naive?
And then there is the trend of people who are well set buying multi-family brownstones and making an owner triplex or single family home which puts more pressure on the housing market. No?…
I’m nervous. Should a nice couple in the heart of FG sell now and move to Vermont?
PLEASE, I would love advice. I feel I may be aging out of NYC somehow…I want more fresh air and less noise sometimes (and this from someone who gets out of NYC to NE all the time)…just don’t know if this is becoming a bad time to sell.
Oh, by the way everyone HAPPY HANNUKAH!
TheGrammarLady
“What – why don’t you go rant on MiamiBeachCondoFlipper.com or DetroitSuburbanSpeculator.com, where your constant regurgitation of what you read in the financial press might actually hold water with the people who care to read it. turn off cnbc and do some homework.”
No because I live here
“Mr. B: If your site is accurate and you are monitoring the posts for appropriateness, why do you allow The What to make such innappropriate comments like “Fucktard?”
Don’t read or respond to it.
“Downturn = Buying Opportunity
No doom and gloom to be had.
Buy low, sell high, still a good formula.
The What, do you have any equity to jump in or is that why you are angry?”
I own a house. Plus in a downturn no one is going to loan you money to buy anything. We have taken on huge debt to become “rich”. How can you say that todays prices will hold for years to come. Inflation (due to this bullshit) has robbed the purchasing power from everyday people. These people didn’t have anything to do with this Mutant Real Estate Bubble shit. Now it’s time to pay the piper. Here is nice reading for you (since I don’t know what I’m talking about) Fannie Mae has a market cap of 4.7 trillion dollars making it the 7th largest company in the world. They are 6 billion dollars short and has NOT reported any finaicials in 3 years. This why I rant. To the people who understand, you will come out of this OK. To the FUCKTARDS I hope you lose everything.
Fannie Cuts Dividend, Offers $7 Billion in Preferreds
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_nWbr7A3XsQ&refer=home
The What
Someday this war is gonna end…
BTW If I’m not posting on this site, Brownstoner.com will be very boring
There will be no giant crash you blithering band of boobs. New York magazine has been on a tear for about a year now, breathlessly ranting and raving about the “end” of housing in New York City. Wake up and smell the ganga dopeheads, there will be forclosures just as there have always been, during the height of the recent boom in real estate 2002-2005, there were foreclosures. Let’s make a map painting all the zip codes with dog attacks, or child molesters or increased farts and pass it off as a story to all those dimwits who will take the story and run with it. It’s called selling a story and selling papers or magazines. Not to mention, selling a political agenda; check out the latest hit piece on front runner Guiliani in the latest New York magazine. Here’s a useful guide in case you didn’t know: New York Magazine: liberal, New York Times: liberal, Daily News: populist leaning Left (anti-Rudy) , Post: conservative, and on and on, sttart learning about the sources of your news. New York City will still be here next year, some folks richer and some poorer. To go on about how the end is near like some alarmist twit only proves that misery does indeed love company and reveals these parasitic posters to be nothing more than one dimensional thumbsuckers stuck in mommie’s basement for way too long.
Downturn = Buying Opportunity
No doom and gloom to be had.
Buy low, sell high, still a good formula.
The What, do you have any equity to jump in or is that why you are angry?
Mr. B: If your site is accurate and you are monitoring the posts for appropriateness, why do you allow The What to make such innappropriate comments like “Fucktard?”
It is bad enough his crazy ramblings take over some strings, but the cursing is inappropriate, adds no value and wastes everyone’s time
What – why don’t you go rant on MiamiBeachCondoFlipper.com or DetroitSuburbanSpeculator.com, where your constant regurgitation of what you read in the financial press might actually hold water with the people who care to read it. turn off cnbc and do some homework.
4:06. Don’t be fooled by your own anecdotal experience. 3:21 and 3:36 are actually part of the trend.
NYC is forecasted to add millions in population over the next 20 years. That is part of the reason why we spent millions of City money on Bloomberg’s PlanNYC. Read it over if you still are holding on to your opinion. Or pick up any recent issue of the ULI’s magazine.
Of course NYC is not very affordable, especially to recent grads and artists. But consistently surging housing demand has changed all Western Brooklyn neighborhoods, and families starting out are buying into lesser-priced neighborhoods.
Unfortunately, areas of Brooklyn too is becoming a playground for the wealthy, for better or worse. But because of our economy, those people are not going away, they’re coming in droves.
Also, you are trying to buy in a neighborhood priced similarly to Manhattan (i.e. one of the most expensive in the U.S.), so of course you will think this. There’s a whole world of other options in Brooklyn besides Park Slope.
“i have been in nyc for 5 years, work on wall street (equity analyst), save much more than i spend and still can’t comfortably afford a starter apt in park slope. no shit.”
i have a feeling we have very different ideas of “starter apt.” only way to explain how i managed to buy and you haven’t. i assure you i probably make less than you do. my mortgage and maint. is around 1600 a month. before tax deductions.
Ah Brooklynlove, my new fucktard. Lets see you get that rate on a commitment letter for a mortgage. There is a thing called risk. Look at a mortgage matrix from any mortgage company or bank. You will never see that rate because the secondary mortgage market has blown the fuck up. On bond trading desk around the world, they WILL NOT buy Mortgages from America. We have fucked the world and our self with this toxic shit. Very soon you will see it all and by that time I hope you be safe from this shit.
Our Economy is based on credit. When credit dries up, there is no economy at all. So you can sit there thinking every think is OK but, it’s not.
The What
Open you eyes.