Gloom And Doom for RE Outside of NYC
Fortune Magazine is ratcheting up the real estate bubble rhetoric with several stories on the topic: We’re not forecasting a nationwide housing collapse. For one thing, the vast expanse of America between the coasts was never touched by real estate mania and is in no danger of a meltdown. And even some overheated markets -…
Fortune Magazine is ratcheting up the real estate bubble rhetoric with several stories on the topic:
We’re not forecasting a nationwide housing collapse. For one thing, the vast expanse of America between the coasts was never touched by real estate mania and is in no danger of a meltdown. And even some overheated markets – including Manhattan, Los Angeles and California’s Orange County – are still simmering. But things are suddenly looking very chilly indeed in four coastal cities – Boston, Washington, Miami and San Diego – as well as three Western boomtowns: Phoenix, Las Vegas and Sacramento. So far this year, monthly sales have fallen 11 percent to 25 percent in Miami, Boston, northern Virginia and San Diego, according to local housing experts.
This is an interesting back drop for the anecdotal evidence we’ve been hearing that things in Brooklyn have been picking up a bit in recent weeks. Maybe it’s just a seasonal pick-up.
Welcome to the Dead Zone [Fortune]
Er, wouldn’t identical IP addresses be a pretty good indication that posts were coming from thesame person(or at least the same computer?
Brownstoner, how do you know that was one poster? I assume you\’re not making this judgment on the basis of IP addresses, correct? If so, then what tells you that there was only a single poster?
Frankly, I don’t trust most people in their ability to assess professionals. I find people typically do not have the necessary knowledge and analytical abilities to comment intelligently on whether the broker did their job well. Too many people will get general, positive reviews which are fundamentally meaningless, and there will be a good number of bitchy complaints written by princess who have distorted senses of entitlement. In my experience, that’s what you get in these kinds of things.
As for a firm not wanting to be mentioned on the blog, they couldn’t ask (well, they could ask), but there’s no basis for having to comply.
We banned 12:03’s IP address. Another (or the same) jerk arguing both sides of the coin under different names trying to stir things up.
If a Broker or Firm asked specifically that you not include them on your Blog, would you be legally obliged to honor their request?
12:03 is a black blogger who lives near PLG and does not want the neighborhood to gentrify by whites, so he routinely posts outrageous comments to elicit emotional responses. Most of the PLG community already recognizes this ploy and stays out of the fray.
But now, this anonymous blogger has decided to cast a wider web than PLG – lambasting the Brooklyn’s entire landowning gentry.
“A lot of people are getting thier real estate licenses.”
This just shows that there’s an oversaturation of real estate agents b/c it’s an easy job to get into and they all think it’s a get rich quick scheme. When the average joe catches onto a money making scheme, that’s when the scheme is no longer a good one. The more agents there are, the worse they will do – according to everything I’ve read, boom years are actually pretty bad for a majority of people getting into something like real estate, b/c there are just too many agents to go around. Now there are lots of homes, but fewer sales – the agents that are new will likely drop out of real estate entirely.
By the way, I can’t see how the number of agents will have anything to do with the number of homes for sale.
The rest of the country, for instance Franklin, Wisconsin a suburb of Milwaukee has a great supply of new housing in price ranges from $220,00 to more than a million dollars. Lots of open land still be developed. My parents home, a 45 year old 3 br ranch is worth about $190,00. The house has increased in value at a steady rate over that time. There has never been a bubble to burst. In recent years their home has even become more desirable as young couples with kids are moving into the hood as it is truly affordable. By the way, it is astounding to see what a million dollars can get you in the midwest. Tear downs in the south slope of Brooklyn for $700,000?