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.
Hey Assheads! It just keeps getting better!!!!
AIG lost 60 BILLION Dollars last quarter!!!!
AIG Seeks More US Funds As Record Loss Looms
http://www.cnbc.com/id/29353282
“American Insurance Group, the insurance giant that is 80-percent owned by the US government, is in discussions with the government to secure additional funds so it can keep operating after next Monday, when it will report the largest loss in U.S. corporate history, CNBC has learned.”
Tinkerbell is dead…. The clapping did not work…
Sources close to the company said the loss will be near $60 billion due to writedowns on a variety of assets including commercial real estate.
“AIG has borrowed roughly $40 billion from a $60 billion credit facility provided it by the Federal Reserve Bank of New York. if it can find a way to pay that down by swapping equity, it hopes to take it back up to a level that will allow it to meet its collateral and capital calls.”
But.. But.. the housing values will be up in Brownstone Brooklyn, Right???
The What (Buh bye Retards)
Someday this war is gonna end…
I’m confused here…what is the 4 times income figure mean?
My place I bought in 2006 is 3 times my income. Almost exactly.
4 TIMES INCOME SEEMS LIKE A 90 PERCENT CORRECTION… lol. I doubt we see that. I would think we get a good 30-40 percent correction… If we break 740 on sp 500
I think 690-710 would be the next resistance level. Unless there is no resistance. That would be nice…. I am looking to pick up HP for 5 dollars a share… I would like to get the BH townhouse for 400k… HOW IS EVERYONE DOING TODAY?
There aren’t 9 aisles in any bodega.
LOLOLOL.
While I love the not so snarky, Snark as well….the snarky one is flippin’ highlarious.
Clean up on aisle 9, please.
I’d also like to note that Corndogbodega responded to all but my question about if and/or how many properties he owns (you know…since he’s such an expert on the subject of real estate).
And even with my “please respond to my question” this was the only part left untouched.
Lydia…..which one are you????? I got your note to Leslie LOL
Yes, lechacal…I had to read that a few times. LOL cornerbodega really hasn’t a clue on anything.