Has the Bubble Finally Burst?
The NY Post certainly thinks so. They report that single-family home prices fell in the city 7.4% from July of ’07 to July ’08 (though the number is 16.3% for cities they surveyed overall). They point to a Park Slope brownstone whose price has sunk from $2.8 million in January to $2.35 million now; still…
The NY Post certainly thinks so. They report that single-family home prices fell in the city 7.4% from July of ’07 to July ’08 (though the number is 16.3% for cities they surveyed overall). They point to a Park Slope brownstone whose price has sunk from $2.8 million in January to $2.35 million now; still seems like pretty close to bubble prices to some folks around here. We’ve been seeing prices fall in some new condo projects around town. So is this it, the moment you’ve been dreading or dreaming of?
NY $$-Home Bubble Bursts [NY Post]
Bubble. Photo by Pepa….!
sebb, the market doesn’t hear you. What you say here is not going to affect the value of your property. There is no reason to be anything but honest here. None of us even has any idea who you are.
brownstoner – seems unlikely that he will be able to uphold that promise given the current fiscal situation. However, if anyone can – it’s Bloomberg. Praying he’ll get a 3rd term.
make that, “YOUR use of title case…” Seems my grammar has much room for improvement!
“Yet the fools who are renters continue to bash NYC.”
‘Scuse me? I’ve been a renter all my life. so were my parents and most of my family- of all the moronic arguments sebb makes (and he’s made quite a few) this false bitter renter/ happy homeowner is the most ludicrous. Did someone die and leave you the white knight defender of the realm?
I realize most people feel owning a house is the best thing to do. I simply don’t want to. What value system were you raised with that said renter/bad, homeowner/good? I’m truly sorry for anyone who has that shallow a world view. (meaning you, sebb).
“Tell me what place is Better than NYC. NONE” Yeah, well- thanks for your opinion, because that’s all it is. And I speak as a born and bred New Yorker who loves my city. It may shock the crap out of you to know that millions of people would not want to live here. If it works for you, fine. It’s a free country but this fake comparative chart you’re building in your head has about as much validity as Sarah Palin’s foreign policy creds.
If anyone sounds like a bitter, frustrated New Yorker, sebb, it’s most definitely you.
gkw, check out the Bloomberg interview in the current issue of NY Mag:
NY: Mayor Bloomberg has said that the city made a “mistake†during the seventies fiscal debacle by allowing quality-of-life services—the Police Department, schools, parks—to deteriorate.
MB: …The lesson is, when you walk away from these investments during tough times, you walk away from your future—and we won’t do that.
http://nymag.com/anniversary/40th/50651/
sebb, you’re use of title case is fascinating and quite distinctive. Just saying…
wasder, 11217 and anyone else who is interested in the End of The World Party on October 16, email me at biffchampion at yahoo dot com.
Agreed setancre. Good analysis. Lets hope you are right to some extent.
Prices are still going up You people are CLOWNS. Here you go
1) Statistics: Per Jonathan Miller, Brooklyn condo sales dropped 11.3 percent in the second quarter, from 778 to 690, according to Miller Samuel. Prices are still going up, but the average condo sales price increased just 4.9 percent from the previous quarter, compared to 8.6 percent fin the same quarter last year
setancre:
A very persuasive argument. Thanks for sharing.