House of the Day: 1380 Dean Street
We like the looks of this four-story limestone house at 1380 Dean Street in Crown Heights. It started out last January asking $829,000, according to StreetEasy, and has just been cut to $775,000. It’s hard to make a guess about what something is “worth” while we’re in the eye of the storm, but suffice it…
We like the looks of this four-story limestone house at 1380 Dean Street in Crown Heights. It started out last January asking $829,000, according to StreetEasy, and has just been cut to $775,000. It’s hard to make a guess about what something is “worth” while we’re in the eye of the storm, but suffice it to say that this place presents an opportunity to live in a 3,000-square-foot house with nice original detail with mortgage payments that would be south of $4,000 a month. Then again, the way things are going, there’s no rule of nature that says this won’t be going for $600,000 six months from now.
1380 Dean Street [CitiHabitats] GMAP P*Shark
IB, you’re talking out of both sides of your mouth. You say “millions of middle class workers accross this country will be fired as companies downsize to pay Obama’s higher taxes” i.e., Obama’s policies will hurt the economy.
Then you say “Blaming the president for Wall Street’s problems shows a complete lack of any true understanding of how business in this country works.” In other words, the policies of George (“Let’s deregulate!”) Bush had nothing to with this crisis.
Maybe Bush’s policies aren’t directly responsible to what’s happening now, but they certainly enabled the present scenario.
You also say “Obama’s efforts to redistribute earned wea[l]th will backfire in his face.” Why don’t you just say that you’re wealthy and don’t want to see your taxes increase? That’s what this is about for you, isn’t it? One more time: trickle-down, voodoo economics don’t work.
ENY,
Come on, dude! The entire US Congress (Democrats and Republicans) is responsible for the war in Iraq.
Obama would have voted for the war too, if he had been a senator at the time.
Don’t believe the New York Times. Think for yourself.
Isn’t it $10 bazillion a month in Iraq? T
There is a silver lining though. The Marsh Arabs, a 5000yr old culture nearly destroyed by Saddam Hussein, (and their marshes & wildlife) are now staging a comeback. Quite expensive for us though.
MKSK – do you currently take the standard deduction or itemize? (remember, you can itemize your state and local taxes).
mksk: Pay $1000 in rent=you’re out $1000/month.
Pay $1000 in mortgage at 6.5%, and initially, abt $860/mth will be deductible interest. If you are paying 35% overall tax on your income, your tax will go down (or income go up) 860x.35=300/mth. If you have a rental, it gets more complex, but you can claim (IRS-wise) you’re running your rental at a loss even as you deposit your renter’s checks.
In subsequent years, the interest/principal ratio gets smaller, so you deduct less and less as you pay off the mortgage. Of course, other house expenses may negate some of the savings.
Denton,
I agree completely regarding banking regulations.
My fear, based on what I’ve heard Obama say, is that he plans to regulate every other private industry and trade as well.
He promises to “keep jobs in America” and doesn’t understand that in order to grow and compete, US corporations have to take advantage of the same cheap labor that Chinese companies do.
I’m siding with ENY on this one but SnarkSlope come on. You can’t blame Reagan for this.
“When it becomes evident that his socialist leaning, anti free market tenancies are seriously harmful to the growth of our economy, even Matt Damon will change his tune.”
Yeah, the present administration is doing such a great job, we can’t AFFORD to let that end! Plus, I’m sure John (“The Economny is Strong”) McCain has a solution that won’t impact the middle class. Uh huh. Also, with McCain, we can keep the $10 billion-a-week war in Iraq going. I don’t think that impacts the economy. Yep, the GOP is doing a heck of a job. Why change things?
I believe the last nail in the coffin of the “Reagan Revolution” was driven in this week.