Local Housing Market Headed for the Trash Can?
Real estate experts are convinced that the New York region’s housing market is about to undergo a serious correction, according to an article in yesterday’s Times. Analysts expect the coming bust to be significantly worse than it was in the early ‘90s, particularly in New York’s suburban markets. Nevertheless, Manhattan—and by proxy, pricey Brooklyn—has so…
Real estate experts are convinced that the New York region’s housing market is about to undergo a serious correction, according to an article in yesterday’s Times. Analysts expect the coming bust to be significantly worse than it was in the early ‘90s, particularly in New York’s suburban markets. Nevertheless, Manhattan—and by proxy, pricey Brooklyn—has so far mostly weathered the national housing meltdown, and the decline in values here isn’t expected to be as bad as in our outlying suburbs. During the year that ended in November, prices in the NY metro area fell 4.8 percent, according to Standard & Poor’s/Case-Shiller Home Price Indices—a drop that pales in comparison to Sun Belt cities, many of which saw double-digit declines. Still, economists predict that house prices in the region will drop by at least 15 percent in the current correction. Ouch.
Home Prices Start to Dip, Recalling ’90s Slump [NY Times]
Told you The What was in Pakistan. “Important things!”
SO BENSON:
After your vitriolic condemnations of all things government subsidized (a recurrent feature of Brownstoner), it turns out you “started in life” at the Red Hook Houses, among the country’s first PUBLIC housing projects.
Good enough for you to benefit from public support, but not anybody else.
Please make your refund check made payable to the American taxpayer now.
Thank you.
“The What! Your back! Ahhhhhh yeeeeahhhh, let’s get it crackin’ up in here!”
Chill. I have some important things to take care of. I will be back!
The What
Someday this war is gonna end…..
1:54, careful with that home-office deduction. That is the single biggest red flag for IRS auditors. My accountants over the years have never even allowed me to take that deduction, because it’s not worth the risk.
The What! Your back! Ahhhhhh yeeeeahhhh, let’s get it crackin’ up in here!
“I bet you none of the Forbes Richest People are renters.”
I bet none of the Forbes Richest People are blogging owners drawn to threads that make them worry about the value of their homes.
“If only that were the real What. But it’s not, alas.
Some day this whore is gonna spend…”
Ha! I can’t catch a brake. You will hear from me real soon. I have some things to deal with. Remember Charlie Chaplain, he entered a look–a-like contest. He came in third! Watch out for WAMU, they are insolvent.
The What
Someday this war is gonna end…
Note to Brownnstoner (Jonathan) Your Brownstone comps are at 995K. A property closed not far from you for that price. I know you paid 9655K in 2004. I could’ve got you something for 750 around the way at that time. ( You thought I don’t know Huh!) LMMFAO!!!!!!!
I think The What is in the same bunker as OBL out Pakistan way… all we’ll get now is the occasional audio tape. Memorex.
If only that were the real What. But it’s not, alas.
Some day this whore is gonna spend…