Real Estate: The New Obscenity?
The lead article in the real estate section of The New York Times this weekend attempts to make the case that real estate has gone from Topic No. 1 to Topic Non Grata in the last six months. Nobody wants to talk about it,” The Times quotes one hedge fund manager as saying. We’re not…
The lead article in the real estate section of The New York Times this weekend attempts to make the case that real estate has gone from Topic No. 1 to Topic Non Grata in the last six months. Nobody wants to talk about it,” The Times quotes one hedge fund manager as saying. We’re not so sure that’s the case. People may be acting more discreetly when they bring it up, but, in our experience, it’s still just as much on everyone’s minds as before, although now, instead of being obsesses with how much the value of their house has gone up, it’s all about how far the value has fallen. Have you noticed a decrease in the amount people are talking about real estate or just a different tone?
Don’t Even Say the Words [NY Times]
Photo by solupine
@ basementalist:
Kunstler dislikes what the newer suburbs and exurbs have done to the American landscape.
He loves cities and has never predicted their death, but says that the biggest cities inevitably will shrink to some degree in the absence now of a phony-money economy.
Kunstler warned about the credit-caused economic collapse at least several years ago, before Nouriel Roubini and others, I believe.
The fact that he doesn’t like the look or the social fabric of far-out suburbs has nothing to do with his analysis of why they are economically insupportable. As he notes, the suburban build-out was entirely dependent on borrowed wealth. That’s a fact.
One gets further by assaying his arguments and evidence, I think, than by making an ad hominem attack on his aesthetic and social preferences.
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The What (It’s Wabbat season…)
Sssshhhhh Someday this war is gonna end…..
> “http://www.nytimes.com/2009/04/19/realestate/19hunt.html?_r=1”
Nice cat.
Everyone should experience living in Manhattan once in their life. he’ll be back in brooklyn during the next bubble. I’ll sell him my ghetto house in 10 years for $2MM.
Where are all the retards????!!! Team Retard where are you???? Yo Assheads…..
Wow that’s something! Just Dave??? Hello…… Yoo Hoo….
You know something (Team Bear) this is very funny and very sad at the same time.
The What
Someday this war is gonna end…
There’s no “maybe” about it, as you can see from FDIC’s own info. We built an economy built on debt, that is now collapsing–the real difference between that list and the big banks is that government is propping them (the big banks) up, no? But it’s all the same falling domino pattern of fractional banking debt collapse .
I will eventually make a lot of money in the ghetto.
Skittles for everyone…..
“BHO, what is your current situation? Are you a renter who is actually looking to buy or are you just a poo flinger? Most of the people I engage on this site have been pretty open about whether they are owners vs. renters, where they live, whether they are currently in the market, etc (DIBS, wasder, muffett, gemini, just to name a few of many who are very open about their situations).”
BHO Please I have the AK-47 right in my hands! Hey Retard the bright light you see is the explosion of the Mutant Asset Bubble! Where is your friends at now (Team Retard) at now??
Look at this story: Leaving the Nest (Again)
http://www.nytimes.com/2009/04/19/realestate/19hunt.html?_r=1
Mr. Ellis bought his apartment — the Addison Hall studio that he liked — for the asking price, $299,000. (It was originally listed last spring for $359,000.) Monthly maintenance is $642. The board interview was informal, with one person meeting him at the Holiday Inn across the street.
With the market softening, “sellers couldn’t ask for the moon,†Mr. Ellis said. “That really worked in my favor. We had genius, genius, genius timing.â€
This guy brought something in MIDTOWN!!!!!!! This guy made out like a bandit and the sad thing is while you mofo’s are running for your lives in the Ghetto, Homeboy is sitting pretty.
How many people are moving back to Manhattan because the “Ghetto Experiment” did not work out??? Tons of them!!! Hey lechacal teabag my nutsack!
The What (Is The What gonna kick some retards ass today?)
Someday this war is gonna end…
bridges….Maybe they all are but they don’t amount to squat as far as the big banks.
Get a perspective before you start running off at the mouth