Open House Picks: Six Months Later
Comment: Gulp! Open House Picks 5/30/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Need a Hand?
Your Next Project Starts with Brownstoner Comment: Gulp! Open House Picks 5/30/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Need a Hand?
Your Next Project Starts with Brownstoner
Give me a break, Aussie. The stock market has fallen nearly 50% from its highs and it is NOT “T H E E N D” as you so melodramatically put it. Yes, major declines in the value of assets cause real pain, but there is no getting around the fact that we have lived through a huge bubble that created a LOT of wealth for a lot of people and now some of those people are at risk of losing a lot of it and, more tragically, many innocent bystanders who never benefited in the first place will suffer. I don’t take that lightly. But your pronouncements border on the absurd. Also, I’m not dead set on any specific % number for what the decline will be, so maybe it will be only 20-30% and not 50% – no one knows for sure. Surely some properties will go down more than others, for various complex reasons (condition of property, exact location, etc.). But truly, everyone agrees that prices are only headed down, not up, for the foreseeable future. Given the unprecedented run-ups of the last few years, I really think your fear-mongering is over the top.
Delusion is only on your end mate. For one thing, income / housing price ratio and accelerating job loss @the highest income classes. Not rocket science, when those stabilize then maybe you can talk. What are you grasping on? That Brooklyn is the new epicenter of nyc and because of that its immune? I was born and raised in Brooklyn, mom still lives there, newsflash: If manhattan goes down hard (and it sure looks like it is) Brooklyn will get slaughtered. Hopes are cheap, reality, well is reality.
okay — just seems like you comment that you’ve seen every other listing even when you think the asking is comical
“Delusion” is thinking that property is gunna go down another 50% and your world will otherwise remain “lovely”. Except for that beautiful brownstone you just bought for a penny. A 50% drop in property and particularly if it “even occurs in prime areas” would spell T H E E N D.
Unfortunately that could happen, but if you think it is going to, why are you on a real estate blog?
Sorry, but how does a “nice place I can afford” = perfect 3rd Street brownstone for under 1 million? People need to chill. Sam, I guess you’re right – maybe there are a lot of frustrated realtors/owners on here today.
Wow, amazing some people really need a brick to the head to see whats coming ahead. No sense in reasoning w/the blind, I guess we’ll just have to have 09 kick in. I do admit its amusing to hear the delusion…
Ringo, I have every intention of buying, and I actually don’t go see everything – only places that actually seem like they have some promise. And Architerrorist, why is it entitled to want a place I like at a price I can afford? Isn’t that the responsible approach to buying a home? It’s not like I’m expecting to buy a grand mansion on the park for a few bucks! I’m prepared to pay a still-hefty price for a relatively modest place, just not an astronomical, comical price (which is still what some sellers are asking). Your assumptions are baffling. Much as we like Ft. Greene, it’s off our list for now since we need to stay in District 15 for school reasons (have one kid enrolled already).
Miss Muffet is the reason I think being a real estate agent would suck. I don’t think she’s wrong to wait for prices to drop, but why must she see every damn place on the market if she has no intention of buying?
Hey, is rates get down to 4%, I’m trading up.
I sense a bunch of very frustrated realtors on this thread.