Open House Picks Six Months Later: 9/14/07
This batch sure didn’t set the woods on fire. Someone have a clue re: 15 Irving? Open House Picks, 9/14/07 [Brownstoner]
This batch sure didn’t set the woods on fire. Someone have a clue re: 15 Irving?
Open House Picks, 9/14/07 [Brownstoner]
“6:33….that’s fine and good, but it still doesn’t apply to all of nyc”
the what is right about you – you just do not get it. the melt down in the financial markets will effect everything. people cannot afford to borrow, and they will be denied access to, the large mortgage sums now. does the fact that ny’s largest bank cutting 20% of its lending capacity register at all with your delusion? why not put your amazing home on the market and see how many peeps agree with your extravagant self appraisal?
9:00 PM
Hey What, you’re dissing yourself now?
You need more meds assrocket.
Uh 4:35 PM that was lame. This is the worse week for Real Estate. I know you Assrockets can’t see that!! No need to type a bunch of shit. I’m going to relax and chill. If Asia goes red on any Monday from now, The gates of hell will open up. When that event happens, there will be no more denial about the Mutant Real Estate Bubble. Have a great weekend.
The What (tick tick tick)
Someday this war is gonna end…
oh and i should also mention that the same 2 million purchase i made was just appraised in feb. for 2.75 million.
6:33….that’s fine and good, but it still doesn’t apply to all of nyc.
what about someone like me who bought a place in 1997 for 170k and sold it 10 years later for 1.6 million? then i bought something else for almost 2 million and paid almost all cash. i didn’t have to have a 500K income to do that. i make around 125k…perfectly fine for my 400k mortgage.
you don’t think there are a lot of people in ny with those same circumstances?
i sure do. pretty much everyone i know.
every person in nyc who owned property prior to 1995 and held onto it for at least 10 years made insane amounts of money.
that is where all these people buying multi-million dollar properties are coming from.
maybe 20% of them actually make the huge 500k plus incomes necessary.
Say what you will, the What is right. Doesn’t anyone on here read calculatedrisk.blogspot.com.
Look, when this market was going up, didn’t any of you say to yourselves – I just don’t understand this…who are all these people in this neighborhood with incomes that support these prices???
Then…last August…all was revealed. People did NOT have incomes to support the prices. Eureka!
The government is doing what it can to keep prices from adjusting properly so it can save the American financial system from going under…but, eventually, since no lender is going to lend loosely like the past, we will have to return to a reasonable income/debt ratio.
It is the simplest thing possible – people were getting mortgages b/c banks wanted to feed a market for securitized mortgages. No more such market. So now banks are going to be stuck with the loan they make.
I would love for someone to explain how otherwise they think prices are sustained at these levels. Prices are not determined in a vacuum.
spell check dweebs can eat fatty all weekend.
dizzam, 5:25 you sure showed 4:34!
4:34 Nothing makes you look more ignorant than writing “Times that by” when you mean multiply that by. Times is not a verb.