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.
“No, BHO. I don’t believe anything until I hear it on TV.”
That BABS is pretty convincing.
***Bid half off peak comps***
“bummer about that stock market, huh?”
Uhhhh, not really. Looking great from my view. Means to an end.
DOW6000 would be very psychological.
***Bid half off peak comps***
“BHO I thinK your PWNING WADER! Wasder I thought you brought your house as not an “investment”? So why go after BHO?? maybe you see panic….”
What, I have never attacked BHO for saying housing is declining. My main beef with him is that he is posing as you, albeit in a lamer, less original form. That should bum you out more than anybody. I didn’t buy my house as an “investment” but at the same time I don’t want to see it precipitously drop in value. This is why I am trying to wrap my head around “50% percent off peak”.
“It’s in my tagline.” BHO–with all due respect, your dumbass tag line is pretty non-specific. What is peak? I bought at approx 20% off the ask of my house. Is that 20% figured into the 50%? That makes a big difference in the bottom line.
“Husband, wife and infant in a floor-through. We’re fine.” Having lived in this exact same configuration (husband, wife, infant in 800 sq feet, about same as floor through) I know damn well that you need more space, especially when the infant isn’t an infant any more or your wife wants to have another. Good luck with that.
No, BHO. I don’t believe anything until I hear it on TV.
GOT MONEY IN THE BANK, GOT MONEY IN THE BANK, MONEY IN THE BANK. Better get it I think. Most banks are going boom.. Hey If you love your home than I would not sell. I think prices are going down but I prefer a good life to some more money… there is one to grow on….
“so now it’s official — US stocks at 1997 levels.”
Ugh. Seriously, who is selling here?
I mean, my MSFT has gotten destroyed, and I sure wish I sold it a year ago, but I’m certainly not selling it now, yet 57,000,000 shares were sold today…
“When all else fails, roll out the conspiracy theory. Good job, BHO, commendable.”
Yup. But that’s only when it fails, DIBS. The theory tested brilliantly when the recession was retroactively called A YEAR LATER!!! Unemployment numbers exclude job hunters who’s benefits have run out. And, not everyone qualifies for benefits (fired, etc.). That means not everyone gets counted. Government reporting lags big time. You havn’t learned by now?
***Bid half off peak comps***
warren buffet lost his whole left nut this year.
so now it’s official — US stocks at 1997 levels.