Real Estate Market Will Be Fine by 2011
That’s what the National Real Estate Investor magazine says, anyway. Well, not fine, exactly, but they predict that another couple of years of “stagnant job creation and tepid economic growth” will yield better results come 2011. Dr. Rajeev Dhawan — one of the economists they consult — “is projecting real gross domestic product growth at…
That’s what the National Real Estate Investor magazine says, anyway. Well, not fine, exactly, but they predict that another couple of years of “stagnant job creation and tepid economic growth” will yield better results come 2011. Dr. Rajeev Dhawan — one of the economists they consult — “is projecting real gross domestic product growth at a rate of 1.4% in 2008, decelerating to 0.5% in 2009 before beginning an anemic recovery to growth of 2.2% by 2010,” they write. Banks will rebound, they say, and oil prices will drop, and maybe inflation will fall, and, after the rough patch, the world of real estate will recover. Even if that scenario plays out, here’s the big question: Since the New York City market took longer to fall, does that mean it’ll also lag on the way back up?
Economists Expect Real Estate Recovery in 2011 [NREI]
Sign of the Times. Photo by respres.
Lechacal-thanks. Can you or Lenny explain what the concept of “short selling” is?
FatLenny, why would I be bitter? I have at least $20k (and counting) more in the bank just based on the difference between my rent and what I would have spent on a mortgage for an equivalent apartment in the past 10 months. And I would guess that I could probably pick up an apartment in my price range for about $100k less right now than I would have had to spend last year. So far I am pretty deep in the green – more than $10,000 a month since I traded back to renter status. So I’m actually a pretty happy short seller.
If you are accusing me of wanting prices to go down, then of course you are correct. The cheaper prices are when I buy, the better. But by no means does that mean that I’m not right about my predictions.
Wasder: It sounds like you bought for all the right reasons. You certainly don’t go into the irrational buyer bin. I hope you enjoy your place for a long time.
True Porpoise: “These assfucks just don’t understand you”
What: “Oh baby don’t say that. I am sure they love me for who I am, like you. Can you lift your dorsal fin? My arm’s falling asleep.”
As the DOWAHT would say LOL – I can just imagine him drunkenly cuddling up with a porpoise and mumbling ass this and ass that.
wasder- that was hysterical! You are just too nice to the What. Would that biff (an evil evil man!) and all the rest could be charitable. Who knows? we might touch something deep inside that little wizened heart and bring forth the blossoms of love and compassion and companionship. Then he could have conversations with his imaginary friends instead of converting them. He could find his true porpoise in life.
Lechacal, your posts and motivation suddenly make sense. I should have known that you were selling short. A new category will be born: bitter short seller.
“Remember If what I’m saying is wrong then ignore it.”
This strategy doesn’t work very well because that means that all of the garbage you spew just sits there unchallenged and thus with the appearance of accuracy. Plus, this being a blog and all, it would be pretty funny if we all went around ignoring and not discussing each other’s posts.
Biff, I am trying to be charitable. I have certainly explored the chance coincidence of the timing of their posts, and I have noted that they both claim to be “in my head” among many other similarities. But DOW insists that he is his own person so I will take him/her at their word for the time being.
Ditto, I had a conversion with an imaginary friend myself. He became Jewish and I became whatever religion imaginary people practice. What a maroon!
“I had a conversion with a good old friend of mind last night. ”
I missed that his “conversion” occured with an imaginary friend. At least he’s being honest now.