House of the Day: 489 16th Street
It’s not really our cup of tea, but someone’s obviously put a lot of effort into renovating this three-story brick townhouse at 489 16th Street in Windsor Terrace. The look is a little too “new condo trapped inside old house” for us. That said, everything’s new and the location, just a block from the park,…
It’s not really our cup of tea, but someone’s obviously put a lot of effort into renovating this three-story brick townhouse at 489 16th Street in Windsor Terrace. The look is a little too “new condo trapped inside old house” for us. That said, everything’s new and the location, just a block from the park, is very nice. The house was purchased for $925,000 back in 2005 and is now asking $1,595,000. What do you make of it?
489 16th Street [Corcoran] GMAP P*Shark
Older family members of mine invested with conservative companies with the recommended asset allocation for their age (close to retirement but on younger side of retirees). With the combination of stock declines and lower bond returns, their income has been cut roughly in half. To them, that feels like their portfolio was decimated since now they can barely afford the basics. I realize some people have fared better, and I do NOT think this is the Great Depression, but 11217, if you think vast quantities have wealth have not vaporized, you are the one out of touch with reality. I’m not quite sure why I bother defending myself – this is all completely obvious to all but the most pollyannish.
Indeed. I asked one of the ladies at work who is near retirement age and she said she moved all her money out of stocks long ago and hasn’t lost a thing. My dad, on the other hand…
pdt, you can’t say they were conservative while losing 35%. Conservative would be a large percentage in Treasuries and cash. If you did that you couldn’t possibly have lost 35%.
11217 that finance guy’s MO does sound eerily like Madoff no?
Trop drole:) Don’t get me wrong he maybe a perfectly honest guy just pointing out the uneasy but rather funny similarity here.
For some reason we are always defending MM 🙂 but here goes: While 40% (your figure) of Americans are not directly invested in the stock market that still lives 60% which is a large number by most standards. Also are 401K and pension plans factored into that 40% you speak of? Probably not but will defer to you if you can come up with a reputable source. You gave an anecdotal example of how much most folks have lost in the market so we will counter here by saying that at our institution (~4000 employees) where most folks are rather conservative the average loss due to 401K plans is about 35%….Decimation? Definitely for folks close to retirement NO?
It was a joke. Ha ha ha.
See Lechecal’s previous comment about “buying in New York at St. Louis prices.” Then it will all make sense. (I hope.)
11217, I was referring to the look of the interior.
brickoven, there is a world of difference between offering an experienced viewpoint and belittling someone for not having the same viewpoint. I think 11217 got your point a while ago. So did the rest of us. No need to keep poking him with a stick if he doesn’t praise your genius and thank you for pointing out a mistake (assuming there is any mistake, which neither of us knows).
billyboomer: Interest rates can only go up from here, and when they do there will be more downward pressure on prices. Given equal after-tax montly costs I would MUCH rather buy at a lower price point with a higher interest rate for the financed portion of the purchase price.