Overpricing Not Working in Carroll Gardens
“What the heck is going on in Carroll Gardens?” we asked back in January. Our question was prompted by a rash of ridiculously priced townhouses in the area. Well, since then, three out of the four houses we looked at that day woke up to reality and one is still clinging to its delusions of…
“What the heck is going on in Carroll Gardens?” we asked back in January. Our question was prompted by a rash of ridiculously priced townhouses in the area. Well, since then, three out of the four houses we looked at that day woke up to reality and one is still clinging to its delusions of grandeur. 329 President has since been reduced by $605,000 and 78 3rd Place by $795,000; 44 1st Place, the nicest and biggest of the batch, appears to be off the market.
What the Heck Is Going On in CG? [Brownstoner] GMAP
HOTD: 40 2nd Place [Brownstoner]
HOTD: 78 3rd Place [Brownstoner]
HOTD: 44 1st Place [Brownstoner]
“New York in that time has become a world city.”
Yeah, because in 2000 no one thought of New York as a “world city.” What kind of idiot are you? This is exactly the kind of self-justifying nonsense that people came up with to explain why Cisco was worth $500 billion in February 2000. And it’s just as idiotic today as it was then.
Nothing meaningful has changed about New York since 2000 in terms of its public image, appeal to tourists, population, safety, etc. Housing prices didn’t skyrocket over the past seven years because New York changed. They skyrocketed because we were in a housing bubble. If you were lucky enough to buy early in that bubble, congratulations — you won the lottery, and you should be very happy. But all you did was get lucky. And if you bought late in that bubble (anytime after 2006), you’re going to be underwater for a long time to come.
“That’s awesome — congrats. Are you really okay with the fact that if you tried to sell it right now, you’d get closer to $2 million than $2.6? Are you really OK being $600K poorer than you thought you were? And are you really OK with the fact that your home isn’t going to rise in value for another five years or so?”
i NEVER in a million years would have guessed my home would be worth this much 11 years later. NEVER. so no, i don’t care at all. i never had the money to begin with, i’ve almost paid off my mortgage and i could live off the proceeds, even if i did sell for a 2 million fire sale.
how many people do you know who have a million plus bucks in the bank??
not many considering 57% of the u.s. population has less than 10K saved for retirement.
It’s convenient that you live in the garden rental, 1:10–short trip to the concrete tomb in the basement…
“And by the way, I am a renter and have assets far in excess of your 2/2.6 million pre-tax, pre-fees unrealized gain.”
If you have that much money and don’t own property, you are the most idiotic person on this blog. How long did it take you to save that money and why in god’s name didn’t you take some of it in 2001, buy a place and quadruple your money??
Lord you are not very smart.
yes most of them are investment bankers with piles of cash. oh shit……
“i’m sending my rent check late this month. really late. what are you going to do about it? you’re so over-leveraged, you can’t live one month without the cash flow. a new stainless fridge should oil the gears…”
You CAN’T possibly be ignorant enough to think someone who bought a 2 or 3 million dollar house is pining away for your measly 2000 bucks a month to pay their mortgage.
Most of these people paid all or mostly cash.
You are REALLY dellusional.
“considering i bought my house for 600K and it’s not valued at approximately 2.6 million, i’ll be ok if it loses a little value.”
That’s awesome — congrats. Are you really okay with the fact that if you tried to sell it right now, you’d get closer to $2 million than $2.6? Are you really OK being $600K poorer than you thought you were? And are you really OK with the fact that your home isn’t going to rise in value for another five years or so?
If so, you’re a better man than I am.
Wow, the ignorance on here mixed with feelings of invincibility based on prior gains made in real estate.
please, while your at your park slope coffeehouse, pick up a wall st journal…it’s getting scary out there.
1:06 It isn’t worth 2.6 million until someone gives you 2.6 million for it.
And by the way, I am a renter and have assets far in excess of your 2/2.6 million pre-tax, pre-fees unrealized gain.