Open House Picks: Six Months Later
Comment: Tough times at the higher end. Open House Picks 12/12/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Tough times at the higher end.
Open House Picks 12/12/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Recently, I thought
A line, a stain on the wall
Light entered the room
Oh, DIBS, please stop peddling fear. People always need to sell for various reasons.
Posted by: Miss Muffett at June 12, 2009 4:17 PM
DIBS, peddling fear???? I think you got that backwards.
Oh, DIBS, please stop peddling fear. People always need to sell for various reasons.
the day I see a duplex rental pop up in these prime BK hoods for 2700 or lower, then it’s uh oh time. for now, don’t see rents drop enough to scare sellers yet.
Your reversion to perversion
A shocker every day
My excursion, so ex-urban
Up New England way
Our selling is afelling
But it happens still
Will your stalling have you crawling
Have you made your will?
The grapes fatten
The roses bloom
Not much appears to rhyme with orange
We still have food
This much is good
I leave you to your silence
MM…those people in brownstone Brooklyn who are going to cave most likely already have their houses on the market because of some dire necessity to sell. People just don’t up and decide to sell because prices are falling. There is precious little supply on the market. Do you think lower prices will draw out more supply? No, just the opposite. These are not vacation homes.
You run the real risk of not finding something to your liking with so little supply on the market.
So, with rental supply going up, won’t rental market continue to soften, thus providing incentive for buyers to hold out further til sellers cave? As someone currently renting, I have no incentive to buy now when even 2-5 years of rent is less than the savings I see in the drops that are happening (since we’re in market for a house, where even a 15-20% drop is a lot of $)…
They will become rentals because the banks won’t lend against the units with so many unsold. Some will become low income housing, as we have seen.
The Real Deal piece definitely paints a scary picture of condo ownership in these crazy times.