NYC Real Estate Market 'Most Challenged'
“When we look at New York City, we look at a price-income ratio that historically has been four times income, versus three times nationwide… If you want simply to get back to the median, it would be a 46% correction…If I had to pick one market in the country with the most challenge and the…
“When we look at New York City, we look at a price-income ratio that historically has been four times income, versus three times nationwide… If you want simply to get back to the median, it would be a 46% correction…If I had to pick one market in the country with the most challenge and the most substantive rate of decline [ahead], it’s New York City. It has the greatest number of job losses among the higher earners.” — Ivy Zelman, a former Credit Suisse analyst, in Barron’s via Curbed.
it’s not a stupid comment. There are plenty of ways of shorting the yen, not least of which is actually selling the forwards for which there is a ridiculously liquid market.
With ETFs, you are exposing yourself to counterparty risk as well as tracking error (as you can clearly see that the correlation is less than perfect).
The only two reasons I can see to buy this ETF is either because you are stepping outside of your mandate (as it is technically a US-traded stock) or you are a retail investor with access only to domestic equities.
How is liquidity not critical in today’s market? I would not want to be more than a third of the market in any of my positions, with a two day cap. If your unit size is 2% then you are talking sub-$70m hedge fund.
This article, in the quoted section, isn’t suggesting that NYC will revert to the *national* ratio but its own historical ratio. Its definitely a bummer for people that bought in (or otherwise locked themselves into) the artificially inflated prices of the last several years, but BHO, et al, are probably closer to the truth than the nervous cheerleaders who seem to be growing increasingly frustrated with his/their antics.
DIBS, you are often a level-headed and intelligent commenter, but not when the bull vs. bear discussion is on. It’s like Dr. Jekyll and Mr. Hyde. I think you let The What bait you. Just my $0.02.
“BTW, you know what’s due tomorrow?”
Killer Cam index?? Holla!
The What (Dave blows dogs)
Someday this war is gonna end…
“Like this, like that!”
Like a wiffle ball bat!
***Bid half off peak comps***
“Yes….Bid half (or 76%) off peak comps and continue renting”
Yup. That’s the plan until somethin’ sticks. BTW, you know what’s due tomorrow?
YOY
Jun-06 9.13% ACTUAL PEAK (see Case-Shiller site)
Jul-06 7.70%
Aug-06 5.94%
Sep-06 4.52%
Oct-06 3.20%
Nov-06 1.87%
Dec-06 0.52%
Jan-07 -0.34% PEAK CALL (changes sign)
Feb-07 -0.91%
Mar-07 -0.91%
Apr-07 -1.56%
May-07 -2.35%
Jun-07 -2.94%
Jul-07 -3.20%
Aug-07 -3.35%
Sep-07 -3.61%
Oct-07 -4.08%
Nov-07 -4.50%
Dec-07 -5.29%
Jan-08 -5.64%
Feb-08 -6.62%
Mar-08 -7.47%
Apr-08 -7.95%
May-08 -7.90%
Jun-08 -7.29%
Jul-08 -7.06%
Aug-08 -6.67%
Sep-08 -7.28%
Oct-08 -7.66%
Nov-08 -8.69%
Dec-08 -?.??% OBAMA PLEASE!!! BACK TOWARDS ZERO!!!
***Bid half off peak comps until NY Case-Shiller YOY returns to zero***
lechacal…we all know your position from the same type of comments that you make. Baiting isn’t the issue. I voice my opinion the strongest and you think I’m insecure?? LOL
Stupid comment chicken…what the hell difference does it make to you if the volume is less than $2 MM??? It has only been trading since November. Not a lot of people using it yet.
There is nothing in this article I haven’t pointed out a few times.
DIBS, are you really that easily baited? If you think you are right about your outlook, then relax. Time will be an impartial judge. You sound insecure about your decision to buy when you get into all of this heated “team bear” and “team bull” stuff. I am comfortable with my own views (which differ significantly from yours) and am happy to let the anti-renter and anti-bull commentary roll right off my back.