What's happening to Manhattan residential real estate prices this summer?

That's such a PC prediction. I can't deny its possible, but I would be shocked if we bounced around at this level. 9,000 is still a ton of inventory, and clearly the volume of buying cleaned out some buyer backlog.

piglet, your talents are truly wasted. you should be writing bodice rippers.

with the amount of effort you expend following my every word, one might think you were fixated. what a meaningful life YOU have!

printer, how priceless that you enjoy a piglet post. perhaps you two share some connection?

What i find amazing looking at listings is that when i pull up a building to look at pricing history there is such a huge number of units that were pulled off the market without selling. tons. i don't think any predictions can be made until after labor day, when we see if those sellers were just testing to see if they could sell, or if they really wished to sell but pulled the listing to "refresh" it.

not that I'm aware of - I don't think I've even seen his (her?) posts before, but clearly an adept observer. and a sense of humor too - which is way more than I can say for a sanctimonious blowhard like you.

but i need to congratulate you - you have gone a whole thread without using the term U6. are you learning something new from your Economic Terms One Day at a time Calendar?

There may be some truth to the idea that some sellers are not sellers below a certain price and may have given up (for now). I have a friend in that camp. Very bearish, but just won't part with it at a loss to his 2006 basis...And had it listed 20% higher. Seemed irrational for a relatively intelligent person. My opinion is if this price level was going to clear the inventory, it would have. It didn't; therefore we are going lower.

so sayeth the economics genius. ignore.

Rock on aboutready. Kids just don't understand. Until I had my own two kids, noone could have explained the financial/emotional/logistical gymnastics that a 'caring' parent makes. It is NO longer a life lived in a vacuum with one's own joy/career as the only determinant of choices one seeks, add on top of that this crazy little bubble where people ponied up 50% of income on housing. Lmao. It's a wonder to me the divorce rate hasn't skyrocketed, yet.

If my business didn't allow for my flexible schedule, my wife would be a stay at home mother. She always always appreciated the fact one parent was always with the nannies to keep an eye on them. I know your husband appreciates this beyond words.

Funny, my wife is alot like you. She's had one manicure in her whole life. A little girlie thing she did the
morning of our wedding day. You've made excellent choices especially on housing. Wish you were around when my wife drove me crazy with 'let's settle' down talk in 2005-2007, although to hear her talk now she thinks she made the decision to not buy ; )

Printer for a guy who boasted 'supply/demand' without understanding the greater impact of cheap financing on the demand for condos vs. coops, you have a fucking lot to say about economics. You are one of the recognized idiots on the board. Yeah, I lose my temper, but time and again people praise my posts. What's it feel like to have only detractors? I would think it would tell the likes of you, Juice and Alpo something. Alas, you keep coming.

Rhino - my post showed that i EXACTLY understood the impact of cheap financing on the demand for co-ops vs. condos and why with the unwind of that finance we will see a reversal of that dynamic. You have yet to show me why that won't be so - why even in the face of a substantially tightened credit environment condos will maintain their peak level price premium to co-ops. please, enlighten me.

and about - here's the difference - i don't throw around economic terms that i just picked up from reading a website here or there. i am not an economist, and don't pretend to be. i use plain words because i don't need to use seemingly complicated terms to explain the obvious.

w67th, because you're a good man and love your wife, i'm sure you tell her frequently how wise "her" decision was.

parenting is like our country home, only ten times more so: a pain in my ass and a joy for my soul. and it's simply wonderful, as our daughter grows older, to hear her admit that she doesn't see any relationship between money (of the significant sort), status and happiness, and that her friends love spending time at our humble abode because it's a great home, if not such a fabulous apartment.

we're so innundated with the notion that home ownership is such a wonderful goal, with little to no discussion of any potential downsides to owning, or upsides to renting. both are viable options, but only assuming the option makes economic sense. i'd certainly rather be ridiculed for being frugal than be kept up at night worrying about paying bills or losing the home. i'm fairly sure there would be less laughter, and possibly even less love, in an environment full of tension. and i'm fairly sure that such a scenario has been and is being played out in countless households across our nation.

kissy kissy. why don't you guys just make a coffee date and tell each other how proud you guys are of each other and your spouses. why do you to put on this sexually tense show for the rest of us?

seriously, "with the amount of effort you expend following my every word, one might think you were fixated. what a meaningful life YOU have!"

if you keep saying the same damn thing over and over and over and over and talking so much about how smart you are, you don't have to be fixated or follow every word to know about your dainty litigant husband or w67thstreet's Porsche.

OH shitty... piggie/UWSismynabe was on here too?

Why the interest in my house shopping? is the "brokerage" urge too hard to ignore? I've got this image of you UWSismynabe... you see me on a thread and run into your shrimp phonebooth and change into your "mean" alter-ego and come out swinging.. do you change underwear and makeup too or just change facial expression as you type into your apple laptop?

well, at least I'm only changing underwear for cosmetic purposes, vs. when the ointment gets too messy in yours, my hairy 500lb squatting friend.

ps - was the apple laptop supposed to be part of your insult?

piglet, you have the market cornered on repetitive, seriously you do.

now, unless you'd like to continue to show the world how assinine, petty, uninteresting, derivative, witless, pathetic, moronic, immature, small-minded, obsessive you, are you can quit following me around. however, i don't care if you reveal your characteristics, so keep up with the fine work. you have a very limited purpose, but you do appear dedicated. you could use some love and some kind words, however, maybe printer is available, he's shown his appreciation for your limited talents. or carolst. ericho. i'm sure we can somehow find you a friend or two also.

585.. (max)... 500 for light workouts.... come on UWS... out yourself... it's in the way your write... my agentrachel call was incorrect... I met her the other day....

I've got a dainty RE lawyer, but in court he'll rip you another A-hole... now that'z the kind of lawyer I need.. how'z your brokering going... I've yet to meet a Residential Broker thats' really impressed me...

actually, aboutready is invited to my summer home in Hawaii... did you know I go one there too.... LMAO... keep notes shrimpie...

Christ, all the squatting. I did that kind of weight in college (Rhino was the nickname). Why do that now.

Better yet, why is Piggie all up in arms over a little mutual admiration. This thread has really taken a turn for the strange.

show my fellow SEers how smart I am.. pls out yorself UWS...

sorry rhino. i'll stop now. piglet pops up all over the place these days.

"piglet, you have the market cornered on repetitive, seriously you do.

now, unless you'd like to continue to show the world how assinine, petty, uninteresting, derivative, witless, pathetic, moronic, immature, small-minded, obsessive you, are you can quit following me around. "

1 - that was pretty good, you called me repetitive and then to make sure you weren't you used all the words you could think of. Good play

2 - wow, lots of insults. I guess I really will go away. If you had only tried that route earlier instead of telling me to fuck off, piss off, or that I'm a little shit (anyone see this said more than once from aboutready??...a bit repetitive), you might have gotten rid of me earlier.

Rhino... it's b/c I don't want to grow old... I figure if I can get a little stronger every year.... : ) .... the other thing is I broke my left kneecap when I was 24 so if I don't work out my left knee, it's got a funny way of buckling if my muscles aren't strong around it....

I do it cause I HAVE to.... : (

Piglet seems to be having this impossibly witty conversation with himself, dunking his piggly wiggler in and out of real estate conversations.

"my agentrachel call was incorrect"

Interesting.

You draw the picture you want.

"I've got a dainty RE lawyer, but in court he'll rip you another A-hole... now that'z the kind of lawyer I need"

Really, also interesting. I won't spend the time now finding it, but I do recall how you spent a couple years in losing litigation over one of your properties.

Rhino - you haven't answered my question - i take it you're hiding - pity. i was so hoping to be enlightened by you.

Sorry to hear, that is like a Greek tradgedy. Doomed to squat for life. I can't beleive what I used to lift. I can't imagine maintaining that into my 30s. I don't know how hold you are...but even if you are only my age, christ.

w67thstreet is 39.

No no.. I won all the frivolous gypsy lawsuits over my properties.... never lost one yet.. that's why my attorney is on retainer and can be called like the time I got busted for speeding in Georgia (spent a nite in jail - doing 125 in a 65 zone)... I was like just give me the ticket.. and the cop was like can your friend drive a stick..... LMAO.

take notes shrimpie... I've lived.... you've just brokeraged....

and look at all he accomplished, since the age of 7 making beaded jewelry with his mom, to today with $1MM in cash, a trust fund set up for both of his kids before the age of 6, a Porsche, a yacht, ...

yes, you've lived, and the Porshe, and the Rolex ...

Why does Piggie know all these details? And he's a broker. Ewww.

cal 2-30... yep a yacht alright... 997TT a car of my dreams since my youth (leased thank you Gov't)... 2 trust funds..... $900K... i needed some money for something... :) .....

You forgot how a kid from my church pointed out I was wearing his donated shirt to school one day.... yep, I keeps me driven like a BULL... in all aspects of life.. I want to be the best father, husband, son, worker... and win the squatting contest with my college buds.... you gotz a problem with that?

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tasty!

ignorzzzzzz

funny, you don't end wordz as often with an 'n' or a 't' or an 'r'

whyz iz thatz?

also, among the best ... father, husband, son, worker, you also forgot most sexual references, most scatalogical references, most likely to tell you about how great he is, most likely to tell you how great he is, most likely to tell you how great he is, most likely ...

"30yrs, nonetheless, there's absolutely no denying that the availability of 10% down with 10% HELOCs goosed the condo market enormously. I've had a number of brokers admit the same to me. One confessed that it had been absolutely essential to the prior successes in the new development market."

So now that a broker confirmed something you like brokers are all of a sudden credible? (I'm busting your chops, but I think you see what I mean).

Go take a look at actual closed transactions in buildings where you looked at stuff and see what actually occurred in the financing of them. just pick a bunch at random and see what you find. And remember that with an awful lot of Condos in this last wave, you had to put up 15% or 20% as a contract deposit by the time the things closed, so if you didn't have 20%, the 90% financing still didn't make it possible for you to stay in the deal till the Condo closed. Also, the HELOCS goosed the Coop market as well, since an awful lot of the renovations done were done with HELOC money. No one seems to beliv e me here even though I keep harping on it, but you would be surprised at how many Coops foolishly let people take out way too much financing AFTER they purchased, only looking at their cash requirements on the way in, and not maintaining an "equity requirement" in a meaningful way.

30yrs, the broker confessed the same BEFORE the bubble burst, which makes the info a tad bit more interesting. And i like some of your ilk. i even respect a few of you.

I'll concur that some developments required 20% down, but not that many, particularly in the early days. And 30yrs, i've been harping on the coop/HELOC issue for months.

It's mid-September.

What has happened to Manhattan residential real estate prices in the third quarter?

Stabilizing?

Still decling?

Starting to recover?