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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.
Response by alpine292
over 16 years ago
Posts: 2771
Member since: Jun 2008

$750k is not high end. Where do you live? Manhattan, Kansas?

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Response by Special_K
over 16 years ago
Posts: 638
Member since: Aug 2008

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.

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Response by justincase
over 16 years ago
Posts: 69
Member since: Apr 2009

Don't listen to Lawrence Yun. He's a schmuck, as many on SE have pointed out.

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Response by stevejhx
over 16 years ago
Posts: 12656
Member since: Feb 2008

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.

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Response by w67thstreet
over 16 years ago
Posts: 9003
Member since: Dec 2008

Lawrence Yun is my father....

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Response by positivecarry
over 16 years ago
Posts: 704
Member since: Oct 2008

It's completely valid, since it's REAL tough to get a mortgage for over that amount.

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Response by justincase
over 16 years ago
Posts: 69
Member since: Apr 2009

Sorry to hear that, but he is still a schmuck, partly for conceiving a son in kindergarten. How irresponsible.

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Response by w67thstreet
over 16 years ago
Posts: 9003
Member since: Dec 2008

I think agentrachel is my mommy... mommy mommy.... hey whatever happened to or not happen to her?

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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007

she's locked in the closet at the Majestic.

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Response by julia
over 16 years ago
Posts: 2841
Member since: Feb 2007

w67thstreet...never stop posting...i don't understand what your posting but I always laugh.

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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007

julia, did you see that RSD one bed for $350k i posted?

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Response by julia
over 16 years ago
Posts: 2841
Member since: Feb 2007

no...plse tell me where you posted...

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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007

on your thread. just search for julia.

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