Open House Picks: Six Months Later

“My issue is with the way you communicate your points (unnecessarily malicious) and with what seems clear to me to be a phony style of speaking (you said it best yourself-Online Thug, Offline Bitch Ass).”

Please. I’m no more malicious than many others on this blog and elsewhere in society. It’s just a colorful way for me to express myself about the market and the truth in general (what you say is far more important than how you say it). I think your underlying issue is insecurity with your purchase. If you were so secure, you wouldn’t take my comments so seriously and wouldn’t go back and forth with me about how I communicate (I thought I was the only loon here as dave puts it). Why are you so delicate and sensitive? I thought you grew up in Brooklyn. Toughen up!

“you said it best yourself-Online Thug, Offline Bitch Ass”

That’s what you wanted to hear, right?

Go ahead – get that last word in.

***Bid half off wasder’s comp***

“BHO…you keep putting the date off. Whats with that????”

What date, dave? I’m talking about ‘Open House Picks: Six Months Later’ from after October’s stock market collapse, say November/December. That puts it at May, June.

“Sitting on a blog and pretending to be something you are not does not make you tough.”

I AM tough, dammit!!! Respect my gangsta!!!

“It makes you pathetic.”

I’m not alone. You forward your unanswered comments from other threads, try to convince yourself that you paid a good price by telling your long-haul story over and over again, and need people to tell you “wasder, please ignore him…you made a very good decision” (like they have your balance sheet in front of them).

Dude, if you’re secure with your purchase and can afford it (you and only you know that, regardless of what I or anyone else tells you), then it should reflect in your comments, if any. Fuck what BHO says about the market. If you’re not secure, leggo the bag (overpaid-for-declining-asset) while you still can (or minimize loss if you can’t). Otherwise, enjoy it and laugh at my comments if they deserve any attention at all.

Regards,

The Two-Faced Poseur – Online Thug, Offline Bitch Ass

***Bid half off peak comps***

“Wasder a word of advice my friend: enjoy your house and be happy you have a great pad. You should come out fine since we believe you are in it for the long haul right?”

Thanks Pierre. I am in it for the long haul yes, as long as I can foresee anyway.

Not sure if it can be said that prices are falling faster in wt than in ps. From just a quick sample of four houses currently fs in ps and on the market for a few months, the asking prices are down ~ 20% and that’s before deal. In any case, judging by history, prices haven’t hit bottom yet. it’s not a question of percentage, just a question of time. when the time factor plays out, houses that sell will sell for less than they have recently just because it is the nature of the cycle that the people who sell towards the end of the cycle will be more willing to do so at any reasonable price that moves the property. predicting future price or debating absolute value is a fools game, but the cycle has to play out and that is something you can know.

As for wt, its attractiveness as a neighborhood and subway access, it is a common thread here to bash wt and for there to be a debate as to whether wt is a neighborhood worth living in. For one thing, wt today has something of the character of ps twenty – twenty five years ago, but less densely populated. twenty years ago, the choices of shopping and restaurants in ps were pretty bleak. As the neighborhood built up and became more wealthy and the average age declined, services sprang up to take advantage of that fact. There are many charming blocks in wt, and some of them aren’t really any farther from some of the nice restaurants in the south slope than one would be in many parts of the slope. The subway debate is part right, part wrong. the part that’s right is that if you live in ps and use the f, then you are just one more stop away in wt, big deal. part wrong, b/c if you use one of the other lines that come in the edges of ps, you have more choices of line to take. Consider though, that if wt were served by five subway lines, it wouldn’t be as quiet as it is, it would be built up more, it would be more crowded. In other words, it wouldn’t be wt, it would be ps, which is not what attracts people to wt. So there is something for everybody, but in my view both neighborhoods are perfectly nice, and both have families who have occupied their house for generations and have no intention of leaving.

Last point: the 1604 tenth avenue house was a wreck a couple of years ago, when it was bought and renovated. If the owner manages to get out whole, with the cost of purchase, the cost of development and credit, the value of time spent, and time value of the money invested – that person will be one lucky ducky.