Home Sales Falling, Condo & Foreclosure Auctions Rising
After a brief head-fake upward in December, the number of existing homes sold in January fell 5.3 percent in January; the January number was slightly higher than November and 8.6 percent lower than a year earlier. And the cheery news doesn’t stop there: The median home price dropped to $170,300, the lowest level since March…
After a brief head-fake upward in December, the number of existing homes sold in January fell 5.3 percent in January; the January number was slightly higher than November and 8.6 percent lower than a year earlier. And the cheery news doesn’t stop there: The median home price dropped to $170,300, the lowest level since March 2003. Given this backdrop, it’s no surprise that condo developers are turning increasingly to companies that specialize in auctions to move blocks of unsold units, as The Times reports today; as the auction trend hits New York, Jonathan Miller of Miller Samuel predicts market-clearing prices 40 to 45 percent below the asking prices of a year ago. Meanwhile, sales volume is rising in some of the hardest-hit markets, a sign, theorizes Floyd Norris, that banks are getting more aggressive is their approach to foreclosure sales.
Home Sales and Prices Continue to Plummet [NY Times]
And Do I Hear $2 Million? No? [NY Times]
Foreclosure Sales Continue [NY Times]
Graphic from The New York Times
Angry at myself because I find you ridiculous? Whatever gets you through the night, Soros.
Don’t need to protect my reputation at all. I think its you who’s unrealistic about a discussion on a blog. A quick review of all of your posts will show who’s the real sad case. You really must be angry with yourself. You don’t have to be a “big star” to be happy and prosperous, either.
Give cornerbodega a reach around. He sounds like he’s particularly depressed today.
Dave, you’re a hoot. Anyone with a real reputation to protect would not share the kind of info you do…you really are a sad case. Good luck, though you’re such a big star in the hedge fund world, you surely don’t need it.
Poor dibs, doesn’t even know how embarrassing hes become. Losing money is one thing, but pretending to be somebody hes clearly not… really sad
> “he’s giving most to charity but if he believed in what he said, he’d pay his share to the government”
And the winner for best self-negating statement is…
Benson, no family farmer has lost or will lose their farm because of the estate tax.
That’s a rather shoddy piece of faux-populist bullhockey.
I don’t manage the whole $100 MM. Just the Asian portion. And yes, our minimum for new money is $5 MM.
I’ll assume you work in the evenings too…maybe checkout at the Atlantic mall Target.
OK, so let me get this straight: You live in Bed Sty, and manage $100 m, and yet the fund is unregistered. You spend all day posting on a RE blog, then trade all night. Your minimum for new money is $5m, even though $100 m is a TINY fund. Very, very funny, Dave. My light bulb needs changing –can you come over?
Suffice it to say I don’t reveal anything about myself on an anonymous blog; that’s your trip.
For the sake of conversation should I just assume you’re in sales?