From Bloomberg:
In Manhattan and Brooklyn, Home Sellers Get a Reality Check
If New York home sellers had big dreams when they listed their properties, now they’re adjusting to reality.
In most Manhattan neighborhoods, at least 25 percent of homes on the market in the second quarter had their prices cut. The share was smaller only at the borough’s northernmost tip, in Inwood and Marble Hill. In prime areas such as the West Village and Chelsea, about half of listings had their prices trimmed.
Even in high-demand Brooklyn, owners realized they’d gotten too ambitious. Forty-one percent of Williamsburg listings saw a reduction in asking price, while in Bushwick, the share was 48 percent. The waterfront area that includes Red Hook had the biggest share of cuts, at 59 percent.
The whittling shows “that even in these areas that are really hot, it’s possible for sellers to be out of sync with the market, and that there is a limit to how high prices can go,” said Grant Long, senior economist with StreetEasy, which provided the data.
fristy, baby!
Another thing that boosts the RE value of the PumpLodge; Convenient access to the arse end of NJ.
“I am now living in a Travelodge motel in the arse end of New Jersey” — Hackensack, she said.
Third input, as Howard Stern would say;-)
@SenBlumenthal
Mr. President: Your bullying hasn’t worked before and it won’t work now.
No one is above the law.
Even if you like your 30%, 60 day returns, I would start taking some money off the table. I am.
The Original NJ ExPat says:
June 12, 2017 at 8:29 am
Stock pick of the day: NGLOY
@jamiedupree
Still no reaction from GOP lawmakers on ex-Atty Gen Loretta Lynch using DOJ email alias
http://jamiedupree.blog.daytondailynews.com/2017/08/07/documents-show-ex-attorney-general-lynch-used-elizabeth-carlisle-as-email-alias/
Former AG Loretta Lynch’s grandmother’s name is Lizzie Carlisle Harris. Probably just a coincidence…right?
Remember this article from “The Hill” ?
http://thehill.com/policy/national-security/270750-holder-used-kareem-abdul-jabbars-name-for-emails-while-in-office
Seems like Obama staffers really wanted to avoid revealing their interactions as government employees through FOIA requests.
I think its unlikely we’ll see anyone in government make a stink about this. It’s likely common practice throughout government and by members of both wings of the uniparty.
@benshapiro 10h10 hours ago
More
Google: Women improve workplaces because they are different from men.
Memo Guy: Women are different, on average, from men.
Google: Fired.
A tragic event unfolded over the weekend, my daughters 4 year old classmate was killed in a freak accident while playing in his backyard. Below is a link to the news report and a link in case anyone wants to donate. I know we all like to think that we can protect our kids but this was truely a reality check for me.
News report:
https://www.google.com/amp/pix11.com/2017/08/05/4-year-old-killed-after-tree-falls-on-him-while-playing-in-nj-backyard/amp/
Gofundme page:
https://www.gofundme.com/in-memory-of-owen
How incredibly sad! My FIL grew up two blocks away.
A tragic event unfolded over the weekend, my daughters 4 year old classmate was killed in a freak accident while playing in his backyard. Below is a link to the news report and a link in case anyone wants to donate. I know we all like to think that we can protect our kids but this was truely a reality check for me.
Feet First
https://www.bloomberg.com/news/articles/2017-08-08/baby-boomers-who-won-t-sell-are-dominating-the-housing-market
23-year-old painter cruises along on his bike, its black paint obscured under stickers from breweries and rock bands. He turns onto a side street, where he spots a few elderly neighbors, standing on adjoining porches. He parks, leans on one handlebar and makes his pitch.
“Anybody on the block considering selling?” Yanoviak asks gently. “I’m not a developer, I’m not interested in renting to students. I’m just a kid trying to buy a house, fix it up and live in it.”
Jake YanoviakPhotographer: Prashant Gopal/Bloomberg
“We’re not going no place,” replies a 70-something woman, relaxing in fuzzy white pig slippers in the row house where she’s lived twice as long as Yanoviak has been alive. “All these houses are taken.”
Like much of his generation, Yanoviak is desperate to get a piece of an increasingly scarce commodity: prime American real estate. Millennials are finding themselves out in the cold because building has slowed, and longer-living baby boomers are staying put, setting up a simmering conflict between the two biggest generations in U.S. history.
D-Fens,
Take away her Medicare (you know, the Medicare Romney tried taking away from anyone 54 and younger) and those houses are going up for sale whether she likes it or not. The Medicare that has no upper limit as opposed to health insurance plans with a 1 million cap.
Bottom line is healthcare is expensive.
Fifty-seven percent identified a medical debt or another medical cause of their foreclosure, and 54% had taken on new debt to pay medical bills; 10% had mortgaged their home for this reason. Although 57% of respondents had a chronic condition requiring ongoing care, more than half reported delaying or skipping a needed medical visit. At follow-up, one-third of respondents had been unable to afford food, and 3 respondents reported becoming homeless; 46% said foreclosure had worsened their health; and 63% had already incurred new medical debts. Medical debt and medical problems frequently contribute to foreclosure, even among insured families.
https://www.ncbi.nlm.nih.gov/pubmed/26536913
Awful occurrence. One of my biggest fears ever. There was a young tree that fell down during Sandy that the previous owner put back up and staked into the ground. Tree doubled in size since I bought it and the stakes broke this winter. On a windy day, this tree was leaning 25 degrees off axis this spring and the next day, it was shifted about 6 or 7 degrees permanently. I cut it down the next day.
I really don’t like this article……snot nosed cheap young prick is chastising the system….”I’ve been looking for a year”…..STFU…..go watch You Tube…..
The writer of the article is a clown….
D-FENS says:
August 8, 2017 at 10:58 am
Feet First
https://www.bloomberg.com/news/articles/2017-08-08/baby-boomers-who-won-t-sell-are-dominating-the-housing-market
He’s a hipster D-bag. If he wasn’t, he wouldn’t have a $200 Brooks saddle on his D-bag bike.
I really don’t like this article……snot nosed cheap young prick is chastising the system….”I’ve been looking for a year”…..STFU…..go watch You Tube…..
The writer of the article is a clown….
D-FENS says:
August 8, 2017 at 10:58 am
Feet First
https://www.bloomberg.com/news/articles/2017-08-08/baby-boomers-who-won-t-sell-are-dominating-the-housing-market/i>
NY takes #1 position for Foreclosure Rate out of the new Corelogic data, NJ falls to the #2 spot.
Finally!
23 year old painter? Painter? Try again when you’re 30.
Boomers deserve blame for more than a few things but seriously now they are being blamed because they won’t sell their houses?? Stupid article.
Btw, kudos to the people of South Philly for not caving to this nonsense. Every time I visit the Italian Market in Philly and the surrounding area, it’s the only place I see that everyone on the street knows each other. It’s got that old city feel…unlike Brooklyn, who’s soul has permanently been eradicated by hipsters. I wonder if a Brooklyn accent will even exist in 40 years?
Seems like there are some nice places for sale in the $200k range in that neighborhood on Zillow. I don’t get it.
chicagofinance says:
August 8, 2017 at 12:20 pm
I really don’t like this article……snot nosed cheap young prick is chastising the system….”I’ve been looking for a year”…..STFU…..go watch You Tube…..
The writer of the article is a clown….
Maybe 1 block outside the neighborhood considered to be “brewerytown”
http://u.zillow.com/p80fnz/
Dude prolly wants one of these though
http://u.zillow.com/p80bjt/
that house is an affront to architecture…bleh. Trying to be modernist, mostly cr*p
I agree with your final comment. I don’t think the young painter demanded this article be published. He’s quoted for a total of two sentences. Unless your post was mostly sarcasm and it went over my head.
chicagofinance says:
August 8, 2017 at 12:20 pm
I really don’t like this article……snot nosed cheap young prick is chastising the system….”I’ve been looking for a year”…..STFU…..go watch You Tube…..
The writer of the article is a clown….
Fire and Fury…..