Open House Picks: Six Months Later
Comment: No good news here. Open House Picks 10/10/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: No good news here.
Open House Picks 10/10/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
“The bitterness in the tone of the Team Bear members is really frightening.”
What’s to be bitter about? Rents and prices are slowly but surely getting annhiliated. I think that’s what REALLY frightens you. How’s your City Center holding(s) doing?
***Bid half off peak comps***
WOW…all kinds of shit being attributed to me that I didn’y post.
Is English not your first language cornholedinthebodega???
The bitterness in the tone of the Team Bear members is really frightening. I hope they’re not all living in their cars!!!
NYC real estate prices (including prices in both Manhattan and Brooklyn) probably have another 50% to fall before things start to stabilize.
There’s still no sane relationship between sales prices and rents. The discrepancy is totally outrageous, and it’s the clearest sign that the local real estate market is still high on crack.
I’ve been repeating myself for years now, and I’ll keep repeating myself until monthly mortgage payments at least roughly approximate rents — taking into account the savings buyers gain through mortgage interest tax deductions, and the small premium for pride of ownership (aka the possibility of future price appreciation).
Down goes brownstone Brooklyn!!! Down goes brownstone Brooklyn!!!
“This feature isn’t titled ‘Lots of Junk, Six Months Later’. They’re properties that were considered interesting or appealing enough to select out of all the open houses on a given date. And they still haven’t sold after six months.”
Brilliant PWNING. I love how fear mirrors greed. We’re all in deep doo doo because of the grand scheme things but we will recover some year, some decade. When we do, these prices will still be hanging around their inflation-adjusted lows, prime for the bottom-feed.
Team Bear We Go Hard…We Go Hard…
***Bid half off peak comps***
“I think the argument that a list of the four biggest sales each week is a good indication of the broader market has been pretty thoroughly refuted in other posts. I can’t remember exactly who said it or the exact words, but I think the best response was along the following lines:
“Boy, the job market is really bad. 90% of the people who were looking for work six months ago still haven’t found a job.”
“Nonsense! The job market is in great shape! 100% of the people who found jobs last week found jobs!”
DIBS, I know you are smarter than that and I suspect you are putting that argument forward just to bait the bears.”
Sad, but Dibs is really as stupid as he seems. No pretending there. 11217 is right up there with him, hes just more passive.
“The nicest houses in Brooklyn will hold up fine until the fall. Then you will see massive prime loan defaults and foreclosures touch even Olympus. The very nicest houses in Brooklyn, and I’ll bet you a beer, Dave, will be selling at half off peak comps by Q1 ’10, period.”
And we will be in a world wide financial meltdown! The shockwave from the Mutant Asset Bubble is going to be spectacular!
The What
Someday this war is gonna end…
“DIBS, I know you are smarter than that and I suspect you are putting that argument forward just to bait the bears.”
Oh no Dave is a F**** Retard! He believes that crap!
The What
Someday this war is gonna end…
Not to poke a sleeping dog, but of course the metric changes every time more evidence is introduced that the market is declining. To review: This will be worth 8 million in ten years; I know a couple on UWS sold their two bedroom for five million; I know plenty of people in the arts who make nearly seven figures; prices will level off, but never decline; oh, they’ll soften, but not more than 10-15%; and now we’re at: Oh, some houses will go down 40%, but not the houses that don’t –or didn’t –or something like that.
The nicest houses in Brooklyn will hold up fine until the fall. Then you will see massive prime loan defaults and foreclosures touch even Olympus. The very nicest houses in Brooklyn, and I’ll bet you a beer, Dave, will be selling at half off peak comps by Q1 ’10, period.
I think the argument that a list of the four biggest sales each week is a good indication of the broader market has been pretty thoroughly refuted in other posts. I can’t remember exactly who said it or the exact words, but I think the best response was along the following lines:
“Boy, the job market is really bad. 90% of the people who were looking for work six months ago still haven’t found a job.”
“Nonsense! The job market is in great shape! 100% of the people who found jobs last week found jobs!”
DIBS, I know you are smarter than that and I suspect you are putting that argument forward just to bait the bears.