Open House Picks: Six Months Later
Comment: Hardly a seller’s market but at least deals are getting done. Open House Picks 8/21/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Hardly a seller’s market but at least deals are getting done.
Open House Picks 8/21/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
“You don’t make or lose money until you sell.”
Pigeon, that is what everybody says. I dont think that way. Which is (I think) why I keep making money. (Except for getting wiped out in a divorce – one problem DIBS will never have)
I also dont want to get reincarnated as a Cat or a Pigeon. Maybe as the Dalai Lama. Money is less important that way too.
“NYC as well as LA are expensive”
Irrelevant to the collapse. Already built into intrinsic values (which are way down there somewhere). These cities were more expensive than the rest BEFORE Ponzi credit. Half off peak NYC comps will still put the city at the top of the list as the most expensive in the nation. One of the most expensive in the world.
***Bid half off peak comps***
DeadCatBounce,
This BS never ends.
Buy a house and ignore the BS.
You don’t make or lose money until you sell.
You might not sell until you die.
When you are dead, money is less important.
DIBS,
NYC and LA are the “Axis of Inflation”?… interesting and a bit amusing.
You suggest that inflation is the reason NYC and LA are so expensive.
Could it be the other way around… that because NYC and LA are so expensive, we have high inflation.
Or, is that the same thing.
Does that sound like the kind of question *Rob* would ask?
I hate renting. I want to buy a home. I can afford to buy a home. I can afford to buy a really nice home. I can afford to buy 2 really nice homes.
But I’m not buying anything because I hate losing money more than I hate renting. So I probably will just move yet again into an even nicer rental (cause I can afford to) and wait this BS out.
I once knew a married couple named Mortimer Gage and Lis Pendens. They had some cute kids!
“Go take a scuba diving class.”
Posted by: Brownstones Half Off at February 19, 2010 3:27 PM
That’s a good one.
Keep edumacating me!
(What is edumacate, anyway?)
Ever wonder why NYC as well as LA are expensive…it’s because of inflation…..
Axis of Inflation’ Seen in New York, Los Angeles: Chart of Day
Feb. 19 (Bloomberg) — The Federal Reserve’s efforts to hold down consumer prices may suffer because a bicoastal “axis of inflation†has developed, according to Nicholas Colas, chief market strategist at BNY ConvergEx Group.
As the CHART OF THE DAY shows, price gauges for the New York and Los Angeles metropolitan areas have climbed at a faster rate than the U.S. consumer-price index since 2000, according to data compiled by the Labor Department. The chart also has an index for the Chicago area, where inflation was relatively slow.
“The Fed is already behind the curve on inflation,†Colas wrote today in a report. “Just targeting nationwide price levels leaves policy makers with a distorted view of price pressures in urban areas.â€
In New York and Los Angeles, consumer inflation outpaced the national rate by about 0.7 percentage point annually during the past decade, the report said. This contrasted with the 1970s through the 1990s, when prices moved in line with the U.S. pace as they did in Chicago.
The gap persisted in so-called core inflation, excluding food and energy prices, according to the report. Calculations that omitted real estate, health care and other components of inflation produced similar results, Colas added.
January’s inflation data shows that consumer prices rose 0.2 percent in New York, matching the nationwide increase for the month, and 0.4 percent in Los Angeles. Prices in Chicago also advanced 0.4 percent.