High-End Foreclosures Are Next
Started by stevejhx
over 16 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
I heard a startling statistic from the National Association of Realtors this morning…no not that home sales are actually increasing, but something about the high end of the market. Chief economist Lawrence Yun said that the supply of existing homes for sale over $750,000 has reached a forty-month supply. Yep, that means it would take well over three years at the current place to sell off all of those homes. http://www.cnbc.com/id/30964377/ Not coincidentally, about as long as it will take to sell of Manhattan's excess supply.
$750k is not high end. Where do you live? Manhattan, Kansas?
alpine $750 is very high-end for the country. national average is around $200 or so? anyways, just goes to show how ridiculously overpriced manhattan is vs. rest of the country. though that's hardly news.
Don't listen to Lawrence Yun. He's a schmuck, as many on SE have pointed out.
It's not about Lawrence Yun. It's about the data (which do include Manhattan).
Alpie, I didn't say $750k was "high end" in Manhattan - though 5 short years ago it was. Nonetheless, since most of Manhattan is included in that price range, it is a valid comment.
Lawrence Yun is my father....
It's completely valid, since it's REAL tough to get a mortgage for over that amount.
Sorry to hear that, but he is still a schmuck, partly for conceiving a son in kindergarten. How irresponsible.
I think agentrachel is my mommy... mommy mommy.... hey whatever happened to or not happen to her?
she's locked in the closet at the Majestic.
w67thstreet...never stop posting...i don't understand what your posting but I always laugh.
julia, did you see that RSD one bed for $350k i posted?
no...plse tell me where you posted...
on your thread. just search for julia.