Open House Picks: Six Months Later
Comment: At least deals are happening. Open House Picks 12/12/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: At least deals are happening.
Open House Picks 12/12/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Miss Muffet,what do you want to bet that everything looks better for a while and then when all this money being injected into the economy is spent, or no one wants to buy US bonds anymore, things nosedive? Say maybe in a year or two. And then in even more years, after the US switches to another currency, things really crater? Say maybe in three.
Can’t predict, though. Anything could happen. But that’s my pessimistic feeling.
Bromance meet Guy Date
Haiku high jinks on the web
Slow Food meet Pub Grub
DB’s argument is that prices are unaffordable, hence they must fall. That’s rich. It’s been that way for over 200 years, and the people who write these reports are among the elite in terms of buying power.
slope–email me. Would love meet up.
FL is right – the banks are in for a bumper year. Q2 has been rocking for the reasons mentioned, bid offer widened and increasing market share for remaining players. Tarp repayment makes some shops even stronger. Only issue could be the payment of bonus in restricted stock which typically takes 3 years to vest. Having said that we’re seeing staff departures at a good clip to hedge funds as people look for cash $ rather than stock compensation. There will be more $ around come early 2010, question is how will real estate as an asset class be impacted. ? My guess is that more $ will come in but nothing like 06 / 07 vintage. As with any point in peoples lives they should look at all asset classes and their own risk tolerance and invest accordingly. If may be foolish to simply ignore real estate in that regard.
As for DB commentary, they are hardly top tier. Check out their conviction buy list, it typically changes daily without explanation.
DH, my point is I view the bank employees as the single biggest group who has the ability to be loose with their $$$ (ie paying good prices to ppties to stop the drop). Let’s not kid ourselves, they’ll remain the biggest group of big spenders in NYC. If they’re loose with their $$$, it puts big pressure onto rest of us buyers in either come join in on the big bids or stay out. Unfortunately (or maybe fortunately), one has to make big $$$ in order to CHOOSE to be loose with the $$$ and bid big on a ppty
Buyers will neither have the appetite nor the ability to leverage as they once did, but if the worst is behind us (a big “if” in my opinion), then there will be an uptick in consumer confidence, including confidence in housing. It seems conceivable that we’ll hit a bottom this year or early next year. That anything is selling at a good price right now is a positive sign. I don’t think it’s because of “idiot buyers,” as Team Bear would have it.
Honestly though m4l – don’t you think it’s a sign prices are out of whack when only ONE group of people in the city can afford to buy anything substantial?
Hello More4Less,
Past performance, no guarantee…
Nix on the duplex