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…
“Congratulations Wasder and a Capricorn baby and think of this, you can save money buying Xmas and Birthday gifts together!”
Thanks What. Truly appreciated, though the xmas/b-day thing is complicated even with me being jewish and all…
“Wasder, you sound like a very grounded person – my sincere congratulations on this joyous news!”
Thanks Miss Muffett and believe me I understand where you are coming from. I bought the house I bought in the location where I bought largely out of the same considerations you face. I love my house, but it was definitely a compromise choice on some levels. That is life though isn’t it–getting as much of what you want within a reasonable framework and making due with everything else. That’s my life anyway.
Good luck Wasder!!! That is great news. Best to your family.
“There are obvious reasons to try to look the other way before the crisis hits (read: greed/denial), and during those years, the nay-sayers who pointed out the emperor wasn’t wearing any clothes were dismissed as party-poopers, crackpots, or “bitter renters”. But now that those outlyers have been proven correct and it’s undeniable that there was an unsustainable bubble, there is much broader consensus about the magnitude of the problem.”
This is the QOTD!
The What
Someday this war is gonna end…
People that overpayed for their homes please stop saying the housing market is not going down in Brooklyn so you don’t feel stupid for overpaying for your house. People like me are trying to buy the only problem is we are waiting for prices to come down alot more. And stop raising rents because poor hard working tenents don’t have to pay for your greed and stupidity.
“I finally read that Vanity Fair piece last night…WOW, the kids are using Food Emporium discount cards – heavy. I mean they’re at the market themselves! Shocking! Favorite quote: “Coupons, They’re all the rage!”.”
Cobblehiller people think this is a joke. We are entering to most turbulent economic times in history and if you not aware of what’s going on, you will lose everything!
“Frankly, the only problem with that article was that it was too short…I loved the personal assistant thinking to herself that the woman she worked for should probably sell a few of those $10,000 handbags!”
And to think she could’ve went to Canal Street and bought the same bag for 40.00!
The What
Someday this war is gonna end…
“2009 is coming, be very very afraid…”
October 26th or whatever the hell day you predicted as the end came and went also.
And it was a great one. Good co-op meeting.
Yes, Wasder, I agree that kids really put things in perspective. The main reason I want to buy a home is to provide a great place to raise my kids, and some financial security for them long-term. And the main reason I’d like a discount on a home purchase price is so I don’t have the tremendous income pressure needed to afford a big mortgage since time with my kids is a top priority. But obviously, my kids don’t care about real estate – a valuable lesson when we sold our place and moved to a rental is that they adjusted so easily, since all that really matters to them is the love of their family and some basic comforts. Of course, I care about real estate and it’s a bit of an obsession (since we’re looking to buy a permanent home for our family), but at the end of the day, nothing is more important than family. That was my point, by the way, with Aussie’s doom and gloom pronouncements about how a big NYC decline in prices spells the END of everything. Sorry, but when I see my kids’ smiling faces every morning, it’s always a new beginning, no matter what’s happening in the markets! Wasder, you sound like a very grounded person – my sincere congratulations on this joyous news!
This is a sucker’s rally. I’m shorting the Dow. There will be no real recovery in 2009, and when it comes, it’ll be U-shaped.
Hopefully, the next bubble will be a Green bubble.
“Brownstoner’s fodder to the bulls to throw them a bone”
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