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They predicted a muni-bond collapse, an %u201Dinflationary nightmare,%u201D double-digit unemployment, BP PLC at $50 a share and 10-year Treasurys with yields at 4%.
If you followed their advice you probably have a lighter wallet to show for it. If you accepted their view of the world, you might believe in unicorns and leprechauns.
These financial wizards were so wrong, for so long, they deserve to go to the penalty box. And they will. Feel free to ignore their advice in 2012. Don%u2019t get fooled again.
The list included Meredith Whitney, Ben Stein, Bill Gross and Peter Schiff.
The problem wiht the inflation and/or disinflation call is tars all price levels with the same brush, oil, food, copper, wages, home prices, and it doesn't work that way, at least not now.
By your exact logic... given that Manhattan RE tanked while tons of folks said it wouldn't... did that mean the pro RE folks also believed in unicorns and leprechauns?
Tons and tons and tons of those....
You are still believing the fantasy that Manhattan RE "tanked"???
people still read marketwatch??
didn't herb greenberg exit after so many bad calls and was *allegedly* traced to insider trading, where he STILL lost money to the point he created this own website where you have to pay to read his bad advice???
plus a site that takes ben stein as a serious economist???
hollywood doesn't even view him as a serious talent.
i thought the dow would be at 4k by now?
"given that Manhattan RE tanked"
How those rents looking right now swe? Going up pretty robustly eh?
Marketwatch has been part of Dow Jones for a long time now, and before that CBS.
Or listening to the Bears on this site.
Where's my SUB 500 psf at Long Island City for new developemtns??!?!?!??!?!!
2 years and 8 months and still counting!!!!
There's just a wiser investment decision to make when it comes to the LIC vs Manhattan dabate.
When east 48th are trading sub $500 where will 179th street next to x brx. Expressway trade at ericho?
Now take that answer and move it to the intersection of 59th st bridge, midtown tunnel and northern blvd.
Now go fetch me a cold beer
> You are still believing the fantasy that Manhattan RE "tanked"???
Wow, you really do believe in unicorns...
Declines of 24.8%, 23.3%, 28.8%, 48%, 67%... if that isn't "tanked", tell me what is...
Those numbers are beyond where most of the folks the bulls called bears predicted...
2 years and 8 months is not that long. Keep in mind that after the last bubble peaked, NY real estate did not hit bottom until 10 years later . . .
"Declines of 24.8%, 23.3%, 28.8%, 48%, 67%... if that isn't "tanked", tell me what is... "
Problem is, swe continues to list this median data but can't actually find apartments that have sold for this much under peak. Can anyone find 3 bedrooms in Manhattan that have sold for 48% below peak this year?
C'mon swe. This is steve like behavior.....
>Wow, you really do believe in unicorns...
Leave the humor for w67thstreet. Color and personality don't really become you. Stick with numbers.
does anyone on this thread really believe that Manhattan RE has not tanked and will not continue to do so? really, really ,, come on?
Not seeing proof of prices tanking or about to.
Prices seem flat and going nowhere.
Two drinks, ordering a third...
500persqft say's she takes her top off.
Sometime IV straight up grey goose on me. The insanity of the non believers is driving me insane.
I will declare a holy war on your bubble azzz. Riversider.
For those who say that NYC real estate tanked, I am sure you have examples of apartments selling for substantially less than their peak purchase prices, right?
yes and have. see the price choppers thread.
swe also cherry picks the time periods. JuiceMan is right, these renters can't give real concrete examples of this "tanked" market.
"does anyone on this thread really believe that Manhattan RE has not tanked and will not continue to do so? really, really ,, come on?"
Yes, the unicorn king...
"swe also cherry picks the time periods"
LICC, we did a whole thread on this... you don't actually understand what cherry picking means.
"yes and have. see the price choppers thread."
He thinks that if he refuses to look at it, it doesn't exist....
> How those rents looking right now swe? Going up pretty robustly eh?
Near 90s levels (per the other thread)... thanks for asking!
Happy New Year swe
Hmm, still no examples of this "tanked" market shown . . .
the moron tag team is back!
surely you recall the price-choppers thread?
see if you can find your way over there, if the fumes of LIC have left a few brain cells functioning