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]
That’s good, 2:17. Before it was like the R was the whipping-boy-train that had to stop for every other train in NYC that needed to pass by. Nuts.
My rule of thumb with houses is that you should be able to buy it at a price where your mortgage and monthly expenses could be covered by a market rate rent. That way, if you lose your job or have some trouble, you won’t have to sell into any weak market.
They have improved R service significantly over the last year or so. Takes 15 minutes to get to Union Square and 30 to 42nd.
Tops.
2:08, we couldn’t get to Midtown in 30 minutes on the R when we lived in Park Slope near the Union Street stop. We barely got out of Brooklyn in 30 minutes on the R. How are you doing it from Sunset Park?
Actually from Sunset Park on the R train, it takes me under 30 minutes to get to Midtown.
Never even close to an hour.
From Kensington on the Q, it takes 20 minutes to Union Square.
Bay Ridge is the only place you mention where an hour commute comes into play. And even that, you can do in 45.
About Kensington/Midwood or South Slope/Sunset Park/Bay Ridge, I don’t live in Bed Stuy but I personally think in the long run years from now a closer proximity to Manhattan will mean more and more and more as Brooklyn’s population grows and the city continues to ignore infrastructure. An hour on a crowded R or F to get to work sucks. Don’t say it’s not an hour because it is. It might happen by chance to take less than an hour some days but an hour is what people on those lines have to set aside every day on their way to work, just in case. And that’s what counts. The time you have to set aside out of your day every day. The actual time on the train it might per chance by random take on some good days is NOT what you get to quote as the average commute time for a resident in these places.
“”Where are the lending institutions are going to find the money to make loans?? ”
The fed just announced today it will be releasing 100 billion to the lending institutions.”
Ha! This statement shows the average asshole knows nothing about The FED. 100 Billion you are talking about is call Term Action Facility or known as TAF. The FED is trying to provide liquidity to banks because confidence has evaporated. Banks will not loan money to each other because of trust. The FED has to step in to provide short term relief. The FED effects OVERNIGHT lending rates, not mortgage rates or other fantasy shit. The Mortgage spreads have been blowing out all week plus, other forms of credit has having problems raising capital. Mortgage rats have GONE UP because two reasons. 1 The credit markets are frozen shut, no one is making any bids on new debt. 2. People want risk return to borrow money, they wont loan it to assholes to buy 856k 1 Bedroom Condos in DUMBO. With the FED lowing the interest rates has made a echo boom in commodities and bringing inflation to the consumer. Here read this asshat.
U.S. Mortgage Market Needs $1 Trillion
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWM0APufFqGg&refer=home
Mortgage-asset prices are tumbling partly because investors are borrowing less, as banks rein in both how much they lend and how much they borrow for their own investments, the analysts wrote. Carlyle Capital Corp., Carlyle Group’s mortgage-bond fund, is among investors saying bond-secured lending is tightening.
The What ( tick tick tick )
Someday this war is gonna end…
I saw Irving when it was with Chappell its not anymore its with some other agency never heard of. I brought a friend who is an engineer with me. The house has serious structural defects, the electrical is not up to code. There is tremendous water damage in the basement causing the wall adjoining the condo’s next door to bow. Its full of roaches and rats. As far as I know its still being priced in the 900’s even with the new agency, could be wrong about that though. I think its worth in the 500’s. The house is sadly neglected but could be so nice with alot of TLC and alot of money. My friend estimated the work to be done at btwn 400-500K.
“if said lending institutions are coming into 100 billion, i don’t think they’ll all be going under as the what has suggested.”
They will have to pay it back, you know. Or we the taxpayers will, when some of them fail.