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.
DIBS, you’re letting yourself get baited again.
“my prediction 9% unemployment in NYC”
We’re already there. Government numbers are cooked like their denial in 2008 of a recession.
***Bid half off peak comps***
As far as newbie, I’ve been here 15 years….long enough to make a lot of money on my Manhattan condo purchase. I moved here to milk the market from saps like you. Bitter???
Yeah, he told me bigtime.
I’m so retarted.
IT MEANS FOUR TIMES AVG YEARLY INCOME IN AREA, I GUESS..
I guess you’ve been told, 11217.
BTW cornholedinthebodega, I’m in good company since B. Corcoran bougth down the street for over $1.1 MM. You wouldn’t know a long term real estate deal if it bit you in the ass and for that, I feel sorry for you. What an ignorant fool.
11217 you freakn’ idiot, like what I claim to “own” on a blog means anything. Like anybody believes Dibs when he says he owns 3 properties. The only thing thats fact is Dibs bought his ghetto property for 920K. Nobody is stupid enough to make up sh*t like that. The other fact is you’re nothing but a newbie nyc transplant wannabe talking of “life experiences” in ny…
Where’d you get $500k from??? Besides, I’m not going to lose anything if I’m not selling it for 5-10 years but you can’t seem to comprehend that and for that, I feel sorry for you.
damn dibs, you’re gonna lose over $500k on a place you spent $920 on and you’re still cheerleading away. RESPECT!