Open House Picks: Six Months Later
Comment: So-so. Open House Picks 8/8/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
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your next project Comment: So-so. Open House Picks 8/8/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
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your next project
“And when I become bored with it and want to move in 5-6 years, bodega boy, I’m sure I will make money on it. And your rent will have increased.”
dibs timeline: “real estate only goes up, I’ll get some in the ghetto”, “nyc is immune”, “manhattan crash? who wants to live over there, Brooklyn is immune”, “in 5-6 years I’ll make money”, …
“wasder, please ignore him. As we’ve said many times, if you love your home, can afford to carry it and expect to live there long-term, you made a very good decision.”
Thats all nice, except most people think its a bad decision to buy a long term debt ridden asset that will be considerably cheaper…
FatLenny: I stand very much behind everything in that statement. If you don’t understand opportunity cost, feel free to ask questions. As far as rate of return, I expect to obtain that rate of return over time. I just put $3k in the market today, priced as of market close. I expect that my return on that particular piece will, over time, far exceed the rate of return in my old post you quoted.
Thanks Biff. If just buying a house, any house, makes one an idiot than I am guilty. Otherwise I think I did pretty well given the price I paid and how much my monthly costs have gone down compared to what I was paying on a two bedroom coop. If cornerbodega had bothered to read what I wrote before giving his oh so informative opinion he would see that I put a lot of thought into the selection of the house and the various financial considerations there-in. But of course, cornerbodega doesn’t bother with such niceties, which is why his/her opinions are almost universally worthless.
wasder, please ignore him. As we’ve said many times, if you love your home, can afford to carry it and expect to live there long-term, you made a very good decision.
wasder, that’s great that you revealed in detail to the world what a very bad decision looks like…
And when I become bored with it and want to move in 5-6 years, bodega boy, I’m sure I will make money on it. And your rent will have increased.
why would you care dibs? You made a great speculative investment in the ghetto…
BHO–my response to your lame defense of cyber-role playing…
“You are a two-faced poseur.”
We all are. It’s a blog.
I’m not. I have put myself out here honestly and told people about the process of buying my house. It is hard to be honest sometimes, and I expressed my concerns and my hopes etc honestly and featured pictures on this blog. That is being oneself, something you could learn a bit about. Sitting on a blog and pretending to be something you are not does not make you tough. It makes you pathetic.