Recovery? What Recovery?
The modest recovery in home prices is beginning to falter, according to data released Tuesday. The Standard & Poor’s/Case-Shiller home price index, a closely watched measure of 20 metropolitan areas, barely rose in September, increasing 0.3 percent on a seasonally adjusted basis. Nine of the cities in the index fell in the month, including Boston,…
Homeprices up 6.4% but where? in the southeast. Prices down sharply in the northeast. Someone please catch those falling prices! DIBS if you are not too busy.We have another catalyst for the market downturn-Dubai World Holdings. Gotta give them credit for announching it when our market was closed.
yes, they are a lagging indicator, unless you are rewriting economic theory.
“first, the number of people making big bonuses is actually a pretty small percentage of people at the big banks. we’re talking maybe 30-100 people at firm x making over $10MM.”
i think the majority of mankind would put high bonuses at anything above $100,000. I would say high at anything over $3MM
> Snark apparently you’ve missed the GDP numbers.
I’ve seen them and remain unimpressed. Real recovery means jobs. Yeah, yeah, lagging indicator you say, whatevs.
just a note bc i’ve seen some things floating around re: wall street bonuses that look to be misleading.
first, the number of people making big bonuses is actually a pretty small percentage of people at the big banks. we’re talking maybe 30-100 people at firm x making over $10MM. That will bring the average bonus per employee waaaay up. when you look at the MEDIAN salary at the banks, it is a lot lower than the average salary. many times over.
secondly, banks are generally capping the cash portion of compensation at around $150k-250k. anything above that is generally paid in company stock, often with a strict vesting period of 3-5 years. While $150-250k is still a wonderful sum, it’s not a down payment on a $3MM brownstoner. Or a $2MM victorian.
lastly the people that make those big mulitmillion dollar bonuses have been making them for a while, so it’s not like this year is going to be the first big windfall for most of them, hence many of them already own homes. they’re not all looking to be buyers, regardless of the housing market. You have 3 kids, living up in Greenwich/Darien/Rye, you don’t want to pack up a crapload worth of stuff to move if you don’t need to.
GDP = Gargantuan Debt Piling
***Bid half off peak comps***
Posted by: Brownstones Half Off at November 25, 2009 11:53 AM
Intelligent.
GDP = Gargantuan Debt Piling
***Bid half off peak comps***
Snark apparently you’ve missed the GDP numbers. They are, by definition, a recovery.
> **Laughing all the way to the bank with the stock market rally**
That’s very nice for you. Just don’t mistake that for actual economic recovery.
Kiss Newt for me when you see him.