Open House Picks
Brooklyn Heights 169 State Street Stribling Sunday 12-2 $2,495,000 (was $2,995,000) GMAP P*Shark Park Slope 438 7th Street Brooklyn Properties Sat & Sun, 1-3 $1,950,000 GMAP P*Shark Prospect Heights 270 Sterling Place Corcoran Sunday 1-3 $1,500,000 (was $1,500,000) GMAP P*Shark Bedford Stuyvesant 146 Halsey Street All Points RE Sunday 1:30-3 $795,000 (was $995,000) GMAP P*Shark
Brooklyn Heights
169 State Street
Stribling
Sunday 12-2
$2,495,000 (was $2,995,000)
GMAP P*Shark
Park Slope
438 7th Street
Brooklyn Properties
Sat & Sun, 1-3
$1,950,000
GMAP P*Shark
Prospect Heights
270 Sterling Place
Corcoran
Sunday 1-3
$1,500,000 (was $1,500,000)
GMAP P*Shark
Bedford Stuyvesant
146 Halsey Street
All Points RE
Sunday 1:30-3
$795,000 (was $995,000)
GMAP P*Shark
no such thing as NEED TO BUY vs. there really is such a thing as NEED TO SELL. Along with till you see prices go up, just chill, rack up savings, rent bigger place if need for more space then buy when it hits your target price or if you see prices go up.
if you got tons of $$$ and choose to buy now, more power to you and ignore people saying wrong timing, etc. if you’re waiting for a price point that looks reasonable and comfortable on the affordibility, wait wait wait. No need to rush in
Dave, how much of that gain is due to a combination of government stimulus and Fed reserve liquidity, and how much is due to a return of animal spirits? How long can the feds continue to prop up the economy? What is the growth driver going forward? If you want to momentum invest the S and P, please, be my guest. “Most respected leading indicator.” You’re funny.
Whuh, if you can prove you’ve got over $1MM in liquid assets I’ll gladly send you the pitchbook and performance data for our fund.
The current evidence is beginning to support my forecast, WHuh, but don’t get bogged down by facts. Have you noticed that the SP500 is up 60% from the March bottom???? Do you think you might take a hint from the most respected leading indicator??? Pull your head out of your ass.
> Moody’s…..AHHHHHHH, yes, the bellweather ratings agency
Agreed. I wouldn’t hang my hat on them. But I wouldn’t hang them on your “green shoots” either.
DIBS is a perma Bull. He is impervious to evidence that counters his, and Larry Kudlow’s, views. (OK wealth has rebounded somewhat with stocks. It is still off a cumulative 12 or so trillion from peak.) Would you want someone impervious to counter arguments managing your money? I still believe he is fibbing when he says he helps manage a hedge fund, one that is conveniently unregistered, so we remain unable to verify its size, returns, or even its existence. Setting aside his reliability, does he believe we’re in recovery, and will it be a jobs recovery, will that cover NYC, and to what extent? Unemployment is rising, and a fair amount of anecdotal evidence backs up the stats: Wall Street is doing great, everyone else –including exactly the sorts of high end professionals who buy in the Heights, Cobble Hill, FG, etc. –is getting killed. Granted, the finest mansions will continue to move. But average to nice brownstones –worth more or less in six months?
I know it makes him feel like a bigshot to say some people are waiting breathlessly for Armaggedon. But I don’t pick that up at all from, say, MM. I think some people are waiting to spend their money wisely, and until prices go UP –got that, Dave? –we’re watching patiently as our dollars go further, and further, and further.
DIBS — They do have a good photographer, but the site navigation bugs me to no end.
Also, I am/was bearish, but I don’t think anyone was forecasting over 50% falls in brownstones. The most bearish forecast I heard was just over 40% (I think it was a report from Deutsche, but not sure.)
My prediction is there will be what looks like a bottom late this fall (in part due to a confidence bounce after Bloomberg buys himself another term and then some bank bonuses filtering into the Brooklyn market). However, inventory will continue to build well into next spring, and prices will slide a little more into late spring of 2010. Prices won’t start to increase until 2011.
(Obviously take this with a grain of salt. Also, I think that good houses that show very well in their category will continue to move in reasonable amounts of time at prices near where we have seen them this year with no slippage next year.)
Moody’s…..AHHHHHHH, yes, the bellweather ratings agency that had all the high ratings on Fannie & freddie, AIG and all the other crap. Now there’s a prediction you’d want to hang your hat on.
Many CEOs are beginning to state publicly that they probably cut too much staff. Inventories are very, very low. We are entering a cycle of higher production that is now being stimulated by government spending in one form or another. Even residential construction activity is rising after 12 quarters of shrinkage.
Unemployment is always the LAST of the indicators to turn.