Novo Takes a Nosedive
What’s the matter? Don’t buyers know they’re going to have a brand-spanking-new dog run in their backyard? Novo [StreetEasy] Curbed PriceChopper: Everything Left at Novo Park Slope [Curbed] GMAP
What’s the matter? Don’t buyers know they’re going to have a brand-spanking-new dog run in their backyard?
Novo [StreetEasy]
Curbed PriceChopper: Everything Left at Novo Park Slope [Curbed] GMAP
Oops. I mean I bought it for $2.54.
yes, except bsc never actually traded as low as $2. so you must be in category 3 (the most populous one): liars.
I did. Just made 400K in one day.
Those who say the world is coming to an end, just need to think a little more creatively.
you managed to buy the stock??
Here is an example of what a smart person does with the economic news and what a not so smart person does with it.
1. The not so smart person whines and cries on an anonymous blog about how bad the economy is and how the world is coming to an end and that all homeowners are stupid.
2. A smart person buys stock of Bear Stearns for $2 on Monday morning and sells on Tuesday afternoon for $6.80 (it’s current price).
I’m so glad I’m in category number 2.
yez, tru dat.
The important thing here is that it is located in Park Slope, which is clearly showing signs of pricing strain. I think these prices need to take another big nose dive to find their selling point.
zo-ops alwayz fair bedder
1:51 -you can say it for the next 100 years it won’t make it true.
Housing prices move together in a single market – with only small differences related to the ownership structure.
In reality housing crisis in the past have seen coop failures (and if not outright failures, then huge problems related to refinancing the underlying mortgages).
Some condos will do better then the overall market and others will do worse and the same will apply to Coops – it depends on the building you are referring.
However, there is nothing so inherently better about one ownership type over another that would prevent substitution should the spread between one or another develop. As for maintenance fees – both coops and condos have faced huge increases in recent years because of 1st the run up in insurance costs and now b/c of fuel costs.
I assume you live in a coop and therefore want to believe that you are somehow more immune to the market forces then your condo friends – but it just isnt true – no one is going to pay 25% more to live in a coop (or a condo) simply based on the structure – people search for a home and then buy what they like and can afford.