Open House Picks 8/10/07: Six Months Later
The Cheever Place house is the only one from this batch that hasn’t sold; a few folks said the interior needed a lot of workthink the price chop sweetens the deal enough? Open House Picks: 8/10/07 [Brownstoner]
The Cheever Place house is the only one from this batch that hasn’t sold; a few folks said the interior needed a lot of workthink the price chop sweetens the deal enough?
Open House Picks: 8/10/07 [Brownstoner]
not the same income level or people we are talking about here, but the new brooklyn ikea is HIRING 500 new workers right now.
so for every company that lays off people, there are people being hired every day in this city.
3:27 – its true that most bankers live in the burbs. But those bankers that live in Brooklyn effect market prices and layoffs at places like Morgan Stanley might slow things down. Even if you keep your job, but you watch 1000’s of others loose theirs, you are likely to be far more conservative in your decision making… at least for the time being.
Many, maybe, but MOST live outside the city 3:03.
Fortgreenest, thanks for sharing your information. I wish more people did that. I am in the market and find it very helpful and valuable to know what other buyers are doing and how sellers are responding. Thanks!
There are many, many people who work at morgan stanley and other banks that live in Brooklyn.
I bet 75% of those Morgan Stanley guys live in Greenwich.
Certainly not a one of them lives in Brooklyn.
You know…what we’re talking about today…
1:09… does that mean you take out multiple mortgages to get financing to purchase the house? A home mortgage for the part you reside in and an interest-only loan for the rentals? Banks won’t be too happy about such complications in this day and age…
(However, as it’s tax season: that would indeed be the ideal way to purchase. Rent counts as income, and only mortgage _interest_ can be deducted as a rental expense. So if you’re paying down principal on the loan for a rental apartment, you’ll end up losing money. (Though, you can also (indeed, must also) deduct depreciation on the rental property, so maybe that would offset any such loss (at the cost of decreasing your basis cost).))
Morgan Stanley fired 1000 employees yesterday in this city.
Does anyone think the financial industry is going to support these high rents for much longer? There are many more layoffs in the works, even at Morgan Stanley.
Yeah 12:05..who does buy these expensive houses?? How do they afford it?? Jobs, Trust Funds…??