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BPC, far WVil, far west Soho and Tribeca, LES, etc. This is the second time in two years they are mandatorily evacuated due to flooding concerns. With global warming, this will be more common, not less.
The wicked will be swept out to sea.
Nobody remembers this stuff come the Spring selling season.
this hurricane is nuting compared to the tsunami of 1000 day delayed foreclosures in manhattan.... flmaozzzz.
pillow it. It's fking hilarious... get a nice hot cup of coffee.. a little dark chocolate, get some int'l house hunters DVRed bf the storm hits and zillow the shadow inventory.... unless you gotta evacuate from the floods..
I think a nice call to your local realtwhore is in order then....
w67 can't even see any land on the edgewater side.. there are just too many zillow pre foreclosure listings... plenty of manhattan units toooo... go knock on your neighbor's door and ask why he's not paying his mortgage?
BTW there are no foreclosures in central park... but that's about it...
GO BUY MORE MANHATTAN RE... flamozazzzaaa
I hope everybody will be safe and those in the Zone A have a place to stay during evacuation.
"HERE COMES THE STORY OF THE HURRICANE..."
Truth - one of my favorite BD songs. Love that whole album.
"Black Diamond Bay" my fave song.
Are you in Manhattan now?
Hope all is well with you and yours.
LOVE "Black Diamond Bay." In DC.
But back to real estate. Fact that all these voices on SE who are far more attuned than I to NY real estate market are predicting coming wave of foreclosures is depressing indeed. What's a person with strong preference for their own fixtures who needs to be in New York to do? I guess we treat any purchase here on our personal balance sheet in same manner as we do our car. Depressing and expensive. Drat, drat and double drat.
>this hurricane is nuting compared to the tsunami of 1000 day delayed foreclosures in manhattan.... flmaozzzz.
how many 1000 day delayed foreclosures are there?
So no discount for BPC being forcibly evacuated two years in a row? Look at the below map.
All of BPC and large swaths of FiDi, Tribeca, West Chelsea, etc. evacuated two years in row. Power may be shut off on purpose below Canal to prevent water damage.
If and when this happens a third time, people will have to reconsider the high price to live in these places, no?
First people will leave California based on the boom and bust economy, high taxes, corrupt local governments, strange Governors, earthquakes, low morality caused by Hollywood, riots, pollution, oppressive environmental regulations, highway shutdowns, overbearing drug culture, proximity to Mexico and China, Nancy Pelosi, Barbara Boxer, Henry Waxman, Maxine Waters, ... and move to NYC, downtown zip code 10006 before declaring themselves too good for everyone else and moving uptown with a bad attitude but still no local roots.
Canal Street, dating to 1820, predates even the time that California became part of Mexico.
NYCNovice: Continue renting for another year or two.
You can afford it.
ali r. will be on the look-out for something for you, during that time.
You can still go look at apts. If you find something you love, buy it.
If it goes down in value, you can afford it and you don't consider RE an investment anyway.
(I don't either.)
"I was sittin' home alone one night
in L.A. watchin' ole Cronkite
Seems there was an earthquake there..."
("Black Diamond Bay", Bob Dylan)
NYCNovice: RE prices in Black Diamond Bay went down after the earthquake.
After Bob Dylan wrote a song about it, prices went back up. :)
Lots of people are finally selling out of Malibu because of the constant mudslides from the rains years in a row. I don't know how it affected prices but some do not want to deal with it anymore. Then you have the diehards. They say they will keep rebuilding to stay in their Malibu paradise. They can have it. I'll visit.
Earthquakes, mudslides, raging fires, floods :
They have it all.
Malibu is sort of an apt analogy I guess. I would just be annoyed if I still lived in 10006, and had to evacuate two years in a row.
Manhattan flood pictures.
Phoenicians love to talk about how they have no natural disasters in central Arizona. No hurricanes, blizzards, twisters, earthquakes, mudslides, noreasters, et c. Kind of like the whole city is covered in vinyl slipcovers so it always stays fancy and new looking.
So Malibu Barbie can move there.
Now why would someone start the same thread just a few above this one?
> this hurricane is nuting compared to the tsunami of 1000 day delayed foreclosures in manhattan.... flmaozzzz.
Agree. With that one, it doesn't matter whether you look down to the Hudson like in Morningside Heights and up... Every kool-aid drinker will be hit.
w67th, how would you play it?
Sure thing there has to be an awesome way to benefit from the frozen REO pipeline aside from buying RE (to me, it's kind of a pain in the ass, high transaction costs, illiquid). There has to be a better way to benefit from the failed policy of sustaining high RE prices at all costs.
I live in BPC and despite the parks being flooded, the streets and buildings being on much higher elevation were not flooded and BPC did not lose power for one second. Yes, most of us evacuated but now we know that we could have stayed. My brother stayed and we texted throughout the storm. No need to bad mouth BPC when you don't live here and you don't know what is going on. No flood, no blackout, beautiful waterview and yet cheaper than Tribecca - which is right across West Side Highway and is till dark as we speak.
maybe the island should've stayed as originally intended...
Look at the two maps above. On the left is Manhattan in 1776. On the right is the Hurricane Sandy evacuation map. If your apartment’s in Zone A in 2012, it would’ve been in the ocean in 1776, before the island was built up by landfill.
On the evac guide, red is Zone A, or the lowest lying area with the highest flood risk—in fact much of it is still under water. Greenwich Street, the eastern line of Zone A is on the edge of the Hudson River. ManhattanPast explains the correlation:
The eastern line of Zone A along the Hudson River runs along Greenwich Street, which was at the waterfront in 1776. The old slips on the East River extend inland to Queen Street, now Pearl Street, which is near where Zone A runs along the East River. Also notable on the 1776 map is Bayard’s Mount, the high land rising in the area marked “Marshy Ground” north and northwest of the old Collect Pond. The pond was drained in the early 19th Century and Bayard’s Mount was leveled to fill it in, but as can be seen in the evacuation plan, the pond and the marsh left their mark on modern Manhattan in the form of a hook-shaped low area delineated by the border of Zone B.
I guess once a flood zone, always a flood zone. [ManhattanPast]
Play it? I'd rent. Buy equities that will double. Buy re when it is $250psf and interest rate is 9%.
Sit on $4mm swing and grow it 12%/yr till i am 67 and have a net worth close to $100mm.
Just waiting on the 9% mortgages. Any day. But it'll come as surely as the hipster wet rats will sell their 'hip' $3000psf condos on spring street for $500psf.
Patience, capital, bit of luck and ballz of steel. And you too can be worth $100mm in 20 yrs. oh and a good family.
Boston is also mostly landfill.
Behold, a map from Boston College: http://www.bc.edu/bc_org/avp/cas/fnart/fa267/boston/bos1820.gif
True. The Dutch had the good sense to build huge levies and floodgates etc.
needsadvice, that map doesn't begin to convey how much of Boston proper is landfill. Nearly all of it is.
This map is funner: http://www.bc.edu/bc_org/avp/cas/fnart/fa267/sequence.html
If only its lowly nature were the worst thing about Boston, though. The worst thing is the color of spilled blood, and can't spell.
W67: you have cojones. Undisputed. I could play with $4m all I like in equities and I betcha it will still be $4m in 100 years.
Gonna be bigger next time ... and the time after ... but I'll still live in Tribeca , even if the whole neighborhood sinks...
I moved to the Mark Hotel for the week , so I don't even care about the power outtage, and I'll do the same next time
Welcome harlemfuckingfuck. Welcomezzzzzzzzzzzzzzz nimbies one and all.
Nyc23. Ppl like you are perfect for my mezz asset backed fund. We are shooting for 800bps spread to 30 yrs mortgages. I'll pay my suckers, I mean 'investors' 500bps and ill keep 300bps for managing the 'azzets.' I know the fees are outrageous, but its less risky than a hedge fund and my bar is so low. I just gotta beat 0% return in 100 yrs. sold! I'll get you 2%. :)
Let me know if you like in. I blew thru $2mm. I'm opening it up for $10mm in a year. Gotta get a bigger back office with prettier office girls. Back office. Hehehhehehehe.