Housing Market Collapse: How Bad Can It Get?
The Fed lowered short-term rates for the second time in two months yesterday in an attempt to stop housing market woes from completely dragging down the rest of the economy. The cut came after a Case-Shiller survey showed that prices of homes in 20 major metropolitan areas fell 4.4 percent for the 12 months through…
The Fed lowered short-term rates for the second time in two months yesterday in an attempt to stop housing market woes from completely dragging down the rest of the economy. The cut came after a Case-Shiller survey showed that prices of homes in 20 major metropolitan areas fell 4.4 percent for the 12 months through August—the biggest drop since the survey began in 2001. And the New York City area wasn’t exempt from the trend: Home prices were down 3.8 percent for the year that ended in August. In a statement accompanying yesterday’s rate cut, officials said the housing downturn is likely to slow the economy, and most experts think the worst is still to come. So now the same old questions remain: How much worse can the national housing market possibly get, and are the heretofore unscathed upper ends of the Manhattan and Brooklyn markets finally going to feel the heat?
Home Prices Are Down, and So Is Confidence [NY Times]
Fed Lowers Key Interest Rate by a Quarter Point [NY Times]
Get a life “the What”! Browstoner, please get rid of this trouble maker
I’m so over the rude, ignorant and incessant posts from “The What” that my days of reading Brownstoner are now over.
Thanks for ruining it for the rest of us, TW. Your brilliant ability to copy and paste the most obvious national headline RE links + your boorish derogatory comments to other posters have absolutely ruined this site.
“Brownstoner, there needs to be a rule how many times someone can post on one particular thread. Especially when they are talking to nobody in particular and just ranting on and on. It’s a thread-hijack and it’s completely not readable. The more The What posts, the more often I hit the back arrow on threads here, these days.
Hey The What, maybe you could afford to buy a home and not worry so much about the economy if you stopped wasting HOURS on Brownstoner and you did your job instead. Whatever job that might be.”
It”s not about The What! It’s about our way if life. America is getting Ass- Raped. the Pig -Men have made millions off of you. When not if it blows good bye. Don’t worry about about my financial situation, I’m well off.
The What
Someday this war is gonna end…….
Brownstoner, there needs to be a rule how many times someone can post on one particular thread. Especially when they are talking to nobody in particular and just ranting on and on. It’s a thread-hijack and it’s completely not readable. The more The What posts, the more often I hit the back arrow on threads here, these days.
Hey The What, maybe you could afford to buy a home and not worry so much about the economy if you stopped wasting HOURS on Brownstoner and you did your job instead. Whatever job that might be.
“The What” used to be funny or at least slightly distracting. Now he/she is going off the deep end. Did you take your meds today? I mean, I’m bearish on housing too, but not to the extent that I leave my brain on the bus…
Oh Wall Street is doing wonderful NOT!
http://www.bloomberg.com/
Come on some show me some good news! LMMFAO Dumbasses!
The What
Someday this war will end………..
“Where exactly in Manhattan and prime Brooklyn do you expect this to happen (aside from everywhere and to everyone)? You sound like a fool.”
If you don’t know then, You will be that dumdass who will get robbed and stomped out!
The What
Masters in Streetlogy
Someday this war will end……
“No you wont! When the crash gets going, you hood is fucked. Crime, drugs and unemployment will skyrocket.
Foreclosed houses will be empty. Nice havens for Bums, Drug Dealers and Hookers.”
Where exactly in Manhattan and prime Brooklyn do you expect this to happen (aside from everywhere and to everyone)? You sound like a fool.
“That’s what you say. Who believes you? All you’ve proven is you can rant and copy links to financial stories. As we all know, economists are ALWAYS correct. Uh huh. I’m not a cowardly, worrying loser like you. I’ll be here 20 years from now and we can compare notes.”
Ok then, have there been any good stories on housing in the last 60 days?
Why the FED cut rates if we are doing so great?
Why the Government lies about our cost of living?
Why are basic things going up in price (Gas, Food, Rent etc.)?
Why are people ignoring what’s going on?
Here is my answer it’s called Greed and Stupidity!
I dare any dumbass to prove we are doing OK.
Plus when you local bank goes BOOM and your ATM card don’t work, I will be laughing my ass off.
Wake up folks! A house in Bed-Stuy is NOT worth a million dollars.
A 2 Bedroom Condo is Not worth 600k with carrying cost over 4000 k a month.
4.00 gas is NOT cool, I have a Fucking truck!
WAKE UP WAKE UP WAKE UP!!!!!!!!!!!!!!!!!!!!!!!!!
The What
Someday this war is gonna end……………