Recovery Sooner Than Later?
The market is supposed to be a forward-looking discounting machine. It’s supposed to price in what’s expected to happen over the next few months and years. Is the market perfect at this? No. If it were, there would be no real opportunity to do well in it. The market is, however, very good at incorporating…
i’m impressed that someone who misspelled his own username has the cojones to call others “stupid.”
I wonder if New York isn’t a different animal afterall. I mean, maybe San Francisco shouldn’t have been as expensive as NYC these last 20 years. Now that prices there are down 20-30% and prices are down here (10?), I wonder if maybe that’s the natural correction.
You gotta think that not all markets are going to get as hit as hard. And I’ve always thought all the co-ops in NYC are a big help in this market. Banks may have let people get in over their heads, but co-op boards take a much closer look.
Part of the reason I come across that way Rob, is because there are SO many entitled people in this world and it makes me angry.
Cobblehiller accusing me of being 25 and living with my parents?
Excuse me…I’ve worked hard for what I have and appreciate it very much, so I feel the need to defend myself.
I look at my grandparents who each worked 3 jobs to make ends meet and people on here are complaining about not being able to afford a neighborhood as if it’s the end of the world.
So move! or get another job! Don’t sit around and complain all day and try to make those who HAVE WORKED HARD feel bad about it.
I have nothing to feel bad about. I’m doing my thing, and nothing The What, or cobblehiller or whoever will change that.
More people need to get off their asses and go do something about their situation instead of waiting for the government or their neighbor or the commenters on brownstoner to do something about it.
It’s really kinda sad to read a lot of these posts.
Oh don’t worry I am waiting for homes to start foreclosing in Brooklyn Heights and in Carroll Gardens and then will I start looking to buy. By the way I will pay cash. If I was not stupid enough to buy into the housing bubble I sure am not going to buy now. Plus I would like to see alot of wannabe homeowners who don’t even know how to change a light bulb leave the neighborhood first. and take your shappy high class coffee stores with you I make my own.
People don’t believe the hype. Deflation and high debt mean that it will take years for this country to get better. Sure we will have spikes in the stock market but those will be bear market rallies… The only way out of this is to bail everyone out or just go thru it and lower our debt. Banks are in no position to keep lending like drunken sailors…
11217 – to imply that saying businesses are struggling now means that I “run in circles where people are negative and don’t work hard enough” is absurd. Your evidently charmed life is the exception now, not the rule. Good for you! My friends and I work plenty hard and are positive that we’ll get through this crisis one way or another – and none of us wants everything handed to us on a silver platter (where did that comment come from!). But you must be a blind-folded pollyanna to think that this economy won’t hurt real estate. I’m really not sure what *your* point is.
“11217 sometimes you come across as a bit of a snob.”
And I realize that, Rob.
I’m trying to work on it.
Rob, in 5 years that’s 13,000 dollars!! Not including the interest you’d accrue!
And you have to figure that each year you’ll (hopefully!) make more money.
It’s a process, but as you said…it’s certainly better than zero.
And to give you a reference point and make you hopefully feel a little better…OVER HALF the population of the United States over 55 have LESS than $10,000 dollars saved.
So think about it …in 5 years you’d have more saved than MOST 55 year olds!
11217 sometimes you come across as a bit of a snob.
*rob*