NYCMatt, help I am confused

see..another good one..it's easy!!...

actually aboutready...not as good as the t-shirt i think..but i had posted this a while back:

jimstreeteasy
about 4 weeks ago
ignore this person
report abuse I like to give something personal, so I used to give a framed photo of myself. For framing, I suggest an inexpensive black frame from CVS, but buy some white-out fluid and paint little zebra stripes on it to make it cute.

One year I gave a photo of myself on a dart board but that proved TOO popular. 8-(

all better gifts than the billionaire who owns 2 floors in Time warner. his gift to the staff last year??
The 5 piece box o' chocolate from Godiva. I shit u not.

"all better gifts than the billionaire who owns 2 floors in Time warner. his gift to the staff last year??
The 5 piece box o' chocolate from Godiva. I shit u not."

And this is somehow a problem how?

Since when should people be judged by the "gifts" they give, regardless of their means?

yeah moxie, for all you know that billionaire probably has like three dozen unemployed friends living on sofas, giving each other foamy rub-downs in the jacuzzis, whiling away the idle hours in the screening room, ordering carrot juice from the kitchen staff, etc...

"shall I go on?"

My guess -- you shall. Everything big pharma has invented has been tried, but apparently your animal spirits are even stronger.

Jim, those little zebra stripes really elevate the gift

so...does he now have to pick up his own dry cleaning and remain vigilant lest his furniture be stolen?

Equinox?

That's not a real gym.

not judging the man Matt but ever heard the addage "you get what you pay for?"
he just might get a little less from the staff that's all.

also Matt staff at a lot of the higher end buildings in the city get paid a lower hourly wage based on the assumption(based on past bonuses) of what they will see at the holidays. If everyone took your stance you would simply see a higher monthly maintenance charge to offset the miserly bonuses. Just be thankful you live off the good graces and generosity of your neighbors.

Oh my god. We're going to have to set up mud wrestling: Matt vs. CC.
Bets will be taken, of course.
I'm putting a grand on CC.

I think that bonus pool is a good idea. Takes out the free rider problem. However it does cheapen the special treatment you are paying for. I guess I think of it as partially charity for the less fortunate... And the best kind really as we also get something for it.

I love how matt even has a strong opinion about peoples choice of gym. Classic. What was the verdict on your age by the way?

Poorish do you understand who you're dealing with in hfs?

pooririshlady wrote "layoff aboutready"

well -- let's see if you can control your adopted patient, the one who has truimphed over big-pharma innovations (even the power suppositories don't knock him out, although he does feel a little "woozy woozy" every now and then), peer pressure, and who knows what other obstacles

Actually, I'm worried about hfs and I think it would be good for him (her). Also, Matt deserves it, no?

poor...you are making some obvious, highly dubious assumptions

just because you looked into the dark black pools of his eyes and saw splendor and humanity, doesn't mean it's really there; it's called "projection"; have you seen the movie Grizzly Man?....

Oh, yes, I am a total Werner Herzog fan from WAAAAY back. He's an absolute genius.
But what am I missing here? Why is it wrong to try to shift hfs's fixation over onto Matt?
Oh, I get it. It's impossible.
Well, I was just thinking I had artistic directorial powers that I probably don't have .......
Still, aboutready deserves a break. Matt not so much.

stick to stray dogs...more upside

Yeah. I wrote in haste. Thanks for the correction. Not sure who would be your "peer".

shall you go on...my guess --you will

AR, dahling, why don't you tell them what happened to you in the loo that afternoon we spent up at Uncle Bernie's penthouse. ;)

drdrd, for shame. even i can be embarrassed. i do love a good bull, though.

we must do drinks again soon.

In unrelated news we are factfinding in Darien. Apparently you can rent a better place for 5k than you can buy for 1.5mm. Insane.

well...it makes sense.

nothing is selling...owners are reluctant to take the loss.

renting is a good way to avoid facing the reality of the loss.

not that many people looking for rentals in the burbs because it has traditionally been an ownership culture.

lowering possible rent doesn't seem as permanent as selling at a loss.

sounds like a hell of a good time to get a rental in the burbs.

It does. It's just exploratory for now but intriguing. We saw a rental for 6300 on the market for over 2mm maybe even 2.5mm. The relationship was so off it threw me for a loop. I think somewhere around 1.5mm the denial goes vertical because sellers don't realize how much harder it is to get that big a mortgage from a bank all things being equal. Plus things are not equal. Many buyers have to explain to these same banks why their 2008 comp was so low.

they're simply not thinking of it logically. we have a couple of friends in this particular bind....have learned that its best to not discuss with them.

Yeah, we know people determined to buy even though you can now rent a 2m+ house for less than carry. Oh well.

i would think that in parts of westchester it would be close to impossible to even cover the property taxes with the rent.

Every broker expects a lot to come on in Jan to boot. I don't know how to price it in an illiquid rental market. 5k rent with taxes of 12k would seem to me to be worth 1mm at the high end. 17x rent / cap rate of 5.

There's never been a real estate bubble like this. Any normalization to even the high end of history seems draconian.

surprised that you're seeing houses in that price range with such low taxes even in ct. for valuation purposes, i think you have to deduct some fairly significant amount for annual maintenance in addition to the taxes. what a mess.

If by bubble, you mean that rents are not proportionate to purchase prices, then I would argue that this phenomenon has been seen time and time again. Maybe not in the States, but in ownership-driven societies, this kind of ratio is common in a heated market.

My tax estimate may be low. We didn't look at any for sales higher than 1.375mm. Yes i also ignored maintenance costs born by the owner or landlord.

It's a classic mispricing like what buffett might look for...in the reverse. The need to own has gone perverse on account of a rich history of outsized gains from a diametrically different entry point.

Diametrically different entry POINTS.