Home Prices Continue to Slide, and NY's No Exception
The New York region isn’t immune to the housing troubles plaguing the rest of the nation, according to data released yesterday. The Standard & Poor’s/Case-Shiller indexes found that home prices in 20 large metropolitan regions fell 6.1 percent from last October to October ‘07; year-over-year values in New York, meanwhile, dropped 4.1 percent. While the…
The New York region isn’t immune to the housing troubles plaguing the rest of the nation, according to data released yesterday. The Standard & Poor’s/Case-Shiller indexes found that home prices in 20 large metropolitan regions fell 6.1 percent from last October to October ‘07; year-over-year values in New York, meanwhile, dropped 4.1 percent. While the data covers the whole New York region rather than just the five boroughs, an S&P analyst told the Sun that the numbers reflect the city’s changing fortunes. “We track a large area where the homeowners’ livelihood ties back to the New York City economy,” the chairman of the index committee at Standard & Poor’s, David Blitzer, said. “The home prices in New York have been weak, and don’t show signs of a quick turnaround. Several New York analysts, however, believe that closings on high-end properties will buoy the city’s market—closings that are tied to Wall Street bonuses. “For New York City, the wild card will be what happens with Wall Street,” Jonathan Miller, the director of research at Radar Logic, said. “The impact on real estate will be more associated with jobs and bonuses than anything else.”
Home Prices Fell Faster in October [NY Times]
A Bearish Sign for N.Y. Home Prices [NY Sun]
“Sorry, TW, but It’s more fun to play with ya”
Ow man I can’t let this one slip! Play with my nuts MOTHER FUCKER!!!!!!!!!!!!! REHAB!
The What
Someday this war is gonna end………
Good night.
Congrats. Fucktard Gardens is the new Park Slope.
Or is it the other way around?
I just paid 800K for a two bedroom Asshat in Fucktard Gardens.
TRUE DAT, 11:09. True dat.
Now, this is getting fun!
The What (edited for clarity and obscenity);
“Owning a House is a BIG responsibility!! The Math should make sense! . . . People should live within their means.”
I couldn’t have said it better myself. Well, except I already did:
“Buy a house you intend to live in for a few years, be honest with yourself about whether you can afford the place, keep some savings, and don’t be so stupid as to take a really onerous ARM, and you will be fine.”
Once more, our lovable, excitable, inimitable What, who apparently prefers to be a one-way conduit of erudition:
“If any one don’t like my comments, don’t respond to them. JUST READ ON”
Sorry, TW, but It’s more fun to play with ya. Now, go have a sherry or something, and calm the hell down! xo
Nobody should be buying a first place at $800,000. Nobody ever did before. The problem with middle class first-time buyers these days is they want to skip all the usual steps other generations went through. They refuse to buy something small or in an area that’s not ideal. They feel entitled to the $800,000 place in prime Park Slope as a first home. THAT’s the problem. Ten years ago you didn’t see first-time middle-class buyers going around believing they should be able to buy a place in prime Brooklyn Heights. They bought in Park Slope for cheaper, instead. Stop feeling you have to keep up with the Joneses, and buy what you can afford.
Rock on, The What!! You swirly-eyed lunatic!! Keep ’em comin’!
Everyone should take The What’s advice at 10:46 and ignore him.
“It’s not the detestable flippers who you’re misinforming with your rants, The Twat. It’s the responsible people who need a place to live for the long haul, who you’re encouraging to rent forever (or whatever it is, exactly, that you expect them to do). Piss off.”
No Assfuck! Owning a House is a BIG responsibility!! The Math should make sense! Not this MUTANT shit you call a Real Estate Market stupid. People should live within their means and not drive the market to nose bleed levels. If any one don’t like my comments, don’t respond to them. JUST READ ON!!!!!
The What
Someday this war is gonna end…..