City Real Estate May Face Smoother Ride In 2010

Yes, LICC, I can see that tiny little 695-person "project" that you're talking about, on 55th and 11th, from my balcony.

http://www.nyc.gov/html/nycha/html/developments/manharborview.shtml

I wonder how it compares to the 6,907 resident Queensbridge Houses that you live near.

Hmm.

It's almost a mile away from me.

You've owned for 12 years, ha LICC? Then you can't be that far behind me agewise, unless you bought when you were 12.

And since none of the "nicer" places in LIC have been there for 12 years, you must live in an absolute dive.

Let me understand...if you have owned for 12 years and you double down in LICC at the peak with your winnings, are you in the red or did you just give back all of your profit?

Rhino, I think it's sad how people like LICC think they live in a nice place because it's the only place they've ever known. Sort of like restless natives living in electrified Quonset huts.

steve, you are 4 blocks from the projects. The ones in LIC are nowhere near where I am. Fail.

Also, who ever said I have owned in LIC for 12 years? Fail.

rhino, how long have you been renting? Ha!

steve, I've been doing well since right when I finished school. I am much younger than you.

"you are 4 blocks from the projects"

Yes, I am 4 crosstown blocks from a 697-person public housing establishment. More than 697 people live in my last building. What's your point? Are you being racist again?

"I've been doing well since right when I finished school"

BOCES is one of the wonders of the New York Public School system. It helps the underprivileged get very good manual jobs.

So then tell me - since you are all perfect and all-knowing, and have lived in LIC since waaaaay before a sliver of it became fashionable - if it's so great, why do you blog incessantly about Manhattan?

Island Envy?

Thinking about it: "who ever said I have owned in LIC for 12 years"

You mean you moved UP to Long Island City?

YIKES!

And since you've "been doing well since right when" you "finished school" - what school, and did they teach you how to diagram this grammatical "structure": "since right when"?

What does "since right when" mean, perchance?

> The ones in LIC are nowhere near where I am.

Yes, but LIC is where you are. That in itself is not good.

> Several other people, in fact many other people, have also criticized you on this board for your bad
> predictions and low-level comments.

LIC talking about bad predictions.

Funny.

LICC, why is it a badge of honor to make a bad purchase and call yourself on owner? Shoot me when I think making it is an underwater mortgage in a shithole. I will rent till its sensible to buy. I am 36. I graduated business school in 2001. I didn't have the money to buy until 2005 or so and I am lucky I didn't. I don't know what's so great about taking your winnings from 1997-2005 and then putting it behind a piece of shit condo in a made-up neighborhood and giving it all back in 12 months....then logging in to a board daily to argue it was a sensible decision.

steve,now you are really showing everyone what a lowlife you are. When you call someone about whom you know nothing a racist, you display how much of a loser you are. Have you always been this bitter, or has it gotten worse as you have gotten old?

You brought up living in a neighborhood with projects, so I pointed out that you live 4 blocks from projects. Not crosstown blocks either. 2 crosstown, and two uptown.

rhino, a guy who has rented his whole life, is telling others about real estate purchase decisions. See my comment above about arrogance and mediocre intelligence. Try to get an analysis correct before you start advising people on this board again please.

LICC, why are you here? Why do you want to see proof every day of what a shitty investment you made? Do you really want to be here as the drama unfolded and LIC descends into shit? Condo busts and all? Can't you follow this from your window?

Every time we argue, I can compliments and you get laughs. How does it feel to be the village idiot of Streeteasy?

rhino, do you ever want to say anything factual, or do you just like making up stuff in your head and then spitting it out?

Factually, values have doubled in the last 10 years, and rents have barely budged. What is your malfunction? We have been through this. I made a fool of you. Many people chimed in to agree.

What I like to do is understand history in order to inform future decisions. What you seem to like to do is debate historical fact in order to paint your own past decisions in a less ridiculous light. You obviously thought you were making a timely purchase in an up and coming neighborhood. It was fact that values were inflated relative to rents relative to history, that they remain so, and that your purchase had unfortunate timing. None of this is a matter of debate.

LIC lives in a Urinal .And he gettin alot poorer in 2010...GO RHINO GO ...

By the way Rhino You wrong on Poorish Issue These kids need to live away from parents .

Then by all means, pay there rent. A prep school education and private college doesnt mean what it used to. Maybe give them a down payment on a house too.

And you know what, LICC - my building was originally an 80/20 building, and there are still STABILIZED TENANTS IN IT! Horror of horrors.

Look again at the map, b/c I can see those two public housing units from one of my BALCONIES: they're right next to Related's overpriced Westport building, which I can also see. Nothing compared to what today are the Queensbridge Houses, which I am also intimately familiar with because my father grew up in them, my relatives lived there until the 70's. I know what they're like ... as does everybody in the city!

So - since you are in love with living in a slum, why do you post incessantly about Manhattan real estate?

ok per today's new york times:

“Considering where we came from, the results this quarter were much better than we could’ve imagined a year ago at this time,” said Jonathan J. Miller, president of the appraisal firm Miller Samuel, who prepares the market report for Prudential Douglas Elliman. “There are a lot of challenges ahead for housing, but I think the worst is behind us.”

from business week today:

“We have some big macro issues ahead of us,” said Jonathan Miller, president of Miller Samuel. “My view is: We’re not done.”

huh?

Funny...I used to live in 505 W 54th around the corner from that 'project'. It was also pretty close to Lincoln Center, the Park, and a ton of cool stuff on 9th. In the end, the market speaks. Hell's Kitchen is more expensive than LIC because it is much nicer. And shit falls out the window in a downturn. Expect the price gap to get wider.

CC: the matter of Miller's opinion was settled by the fact he expects to be able to buy busted condos, convert them to rentals and make 10% on his money... In other words, he expects to be able to buy condos at 50c on the peak dollar or less.

columbiacounty, it may sound different, but I think he's saying the same thing: there are issues ahead (ie: we're not done), but we're past the "armageddon" as urbandigs calls it.

He formed a partnership to buy condos and convert them to rentals to earn 10% returns. That sounds like he thinks Armageddon is ahead.

it may sound different?

the worst is behind us certainly would lead one to believe that things are getting better not less worse.

we're not done sounds like we're going to continue to see drops.

Stop wondering. Look at what he is doing.

If LICC could afford the Westport (which he can't) then he'd live there, Projects be damned.

Rhino, do you think he's saying these things because he wants to buy condos on the cheap, or do you think he's planning to buy them because he believes these things? I think you may be putting the cart before the horse.

columbia, I think you're reading it too black-and-white. "Worst is behind us" does not mean pricing/sales won't take further hits; it just means the bulk of it's already occurred. That seems like a pretty reasonable statement to me, and not at all incongruous with "we're not done."

Am I? Google him. I don't think you form a partnership with an investment bank and a property manager because you aren't predicting a buying opportunity. And I think we all know that 10% returns implies a much lower than current price. What do you think I am missing?

Rhino, apologies if I didn't understand, but I thought you were implying that he's saying these things because he wants to buy at lower prices. I'm not sure I'd buy that.

I guess I leave it to your judgement as to whether he is putting press releases out and forming partnerships to knock the market down. It implies to me that he expects a buying opportunity in condos...And that he expects a much lower price than current if he expects to generate a 10% return.

rinocerous86:unlike you,i commend miller for his enterprerial motivations.what have you accomplished beyond non-stop opining,with injections of vulgarity!

http://finance.yahoo.com/news/Pending-home-sales-fall-16-apf-4260670970.html?x=0&sec=topStories&pos=main&asset=&ccode=

I remember vulture funds flocking to Miami saying the worst was behind us, Miami RE couldn't go any lower. You could buy bulk at 30 cents on the dollar. Then Lehman failed. And, damned if prices didn't go lower. NY RE could be just fine from here ----unless it isn't. If a major developer or two doesn't go under, it will probably be fine. Except their is no transparency in this stressed market and no one knows who is at risk of defaulting on their debt.

I think Miller is just sitting in the counting house and counting shadow inventory. His plans have obviously included the fact that the existing inventory will put pressure on prices and the macro won't change that.

Jrw. Yeah stop protectig your daddy, sam miller, and get a job.

I'm still waiting for JuiceMan's promised comment on the similarity of today's broker spin from that of 20 years ago.

Juicy?!

rninocerous:you evidently follow the "stevejnx"theory on real estate negativity[i d'ont],but unlike him ,you know nothing,and say it crudely!

Yes but you're a stranger here I get plenty of compliments and I am respected by many here, including Steve, for what I bring to the discussion. So what am I to make of your opinion?

jrw, pleeze psell rhinoceros corectly.

Only rhino see all these imaginary compliments. Most of the comments I see responding to him show that others consider him a joke.

And steve doesn't know anything either. It is amazing how many times he has been make to look like a complete fool with his arguments, and how he stubbornly makes himself look worse and worse when he tries to defend himself.

What are you ranting about this time, LICC? If I look a fool to you, that is the greatest compliment you could possibly pay me. After all, you're the one living in Long Island City & I'm the one living in a 2-bedroom 2-bath 2-balcony high-rise in midtown Manhattan.

You're the one who lives in Long Island City yet pontificates on the real estate of Manhattan, which you obviously can't afford else you'd live here.

Strictly a case of Island Envy.

If not, then tell us why you post on Manhattan real estate when you don't live here? Do you also pontificate on the market in Stockholm, or Bonn?

Nice place where you live steve:

http://www.apartmentratings.com/rate/NY-New-York-The-Ellington.html

4 out of 5 reviewers who lived there say it sucks, and the one person who said she would recommend it said more negative things in her comments than positive.

Hmm. LICC is now rating buildings based on anonymous posts on the Internet by people with a gripe.

Is that what led you to move to Long Island City, LICC - anonymous posts - or was it just poverty?

They should do with you what they just did to petrzitz's comments.

What did they do with Perfitz' comments?

Deleted them.

And here's what LICC says is how he evaluates property:

Date posted: 10/23/2008
Years at this apartment: 2007 - 2008

So we're talking about somebody who lived here for a year, 3 years ago.

Okay. Let's look at the specific:

"1) Rose Associates, which manage the building, do a terrible job. Elevators took more than 6 months to be fixed and they don't care."

They installed high-speed elevators that get me to the 21st floor faster than I got to the 8th floor in my Chelsea building. So fast that your ears pop.

"2) Appliances are decades old - and they refuse to replace them"

I have new appliances, and every new apartment is outfitted with new appliances, and new countertops and sinks in the bathrooms.

"3) The agent who takes care of the rental process thinks she is doing a favor when she speaks to you - is she a volunteer or a paid employee' I've never had such bad customer service before."

Don't know who they're talking about. If I have a problem I log it into the computerized system and it's fixed within a day.

"4) Manhattan real estate is starting to melt down with the credit crunch and they refuse to give discounts (unlike many midtown buildings). Too bad for them - they will get stuck with loads of empty apartments."

They give you a free month's rent.

So, LICC, in all of your vainglorious ignorance - claiming that where I live is remotely close to the projects when I can see the projects from my window and you can't, and evaluating real estate based on stupid anonymous posts that are untrue, and at least 3 years old - tell us why you post so much about Manhattan yet "choose" (is it a "choice"?) to live in Long Island City....

Another busy day in the office...

I want to know where's JuiceMan's comments on the eerie similarity between realtor spin in 1990 and 2010. He promised us all an enlightened response.

If LIC wasnt such a shit hole...it would be hilarious if Steve could move next door to LICC and tell him every day in the elevator how much lower his carrying costs are.

It would not be hilarious if I could move next door to LICC. I shudder at the thought!

Its so gross there. It was hilarious when his comeback was that LIC was a place for smart, happy and successful people.

Steve is right, LIC is not...

I know someone in a Rose apartment... and I spend a good amount of time there....

> "1) Rose Associates, which manage the building, do a terrible job. Elevators took more than 6 months
> to be fixed and they don't care."

> They installed high-speed elevators that get me to the 21st floor faster than I got to the 8th floor
> in my Chelsea building. So fast that your ears pop.

They just last week replaced the elevator buttons signs. Not the buttons, the logos next to them. They worked fine before, the graphics just rubbed off a bit. I don't mean like illegible, as the numbers are cast metal. We're just talking about the finish was a little less shiny, and they replaced them! This is basically a new building. I've never seen that much attention paid before outside of maybe 5th ave co-ops. Like I can't imagine anybody complained, it was so slight.

> "2) Appliances are decades old - and they refuse to replace them"

> I have new appliances, and every new apartment is outfitted with new appliances, and new countertops
> and sinks in the bathrooms.

Ditto. I've lived in some higher end buildings, and this was great stuff. Everything new. Glass tile on the walls. Marble. Underside sinks (not the cheap drop in). I watch the DIY shows, and these guys went for the high end.

> "3) The agent who takes care of the rental process thinks she is doing a favor when she speaks to
> you - is she a volunteer or a paid employee' I've never had such bad customer service before."

The nicest rental folks I've met yet were from Rose. I met a lot of nice ones, but they were definitely nicer (and cuter) than the archstone, glenwood, or a couple others I met.

> Don't know who they're talking about. If I have a problem I log it into the computerized system and
> it's fixed within a day.

They're on buildinglink. Its tough to ignore a problem when its logged like that. Every problem I know of was resolved that same day.

> "4) Manhattan real estate is starting to melt down with the credit crunch and they refuse to give
> discounts (unlike many midtown buildings). Too bad for them - they will get stuck with loads of
> empty apartments."

Simply not true. I have pricing info from a year apart. Literally have two of the same floorplan with the amount handwritten by them on it... and year 2 is 22% lower (and the first year was already discounted)

> They give you a free month's rent.

and that, too...

rhinoceros[feel free to spell/check me steve]: while mr. rhino chit chats about lic,one of my deal there made a profit $205,ooo in 24 months.keep on blabbing sir!

My sister-in-law's best friend lives here, & she loves it. I've had a large number of friends over and they die at the view, how well maintained the building is (they're finishing a new lobby, just redid all the balconies, new carpet in the halls) and how nice the staff are. The greatest thing is the value-for-money this place represents: 1/3 the cost of buying something similar.

One of my medicine cabinet mirrors was installed the wrong way, so I couldn't open it & have something plugged in at the same time. The super didn't want to fix it, I logged it into buildinglink and ask that it be forwarded to the manager, and I had a call within 30 minutes that they'd be up to fix it.

And they were.

nybits archives rental listings. Prices are way, way down. The Ellington isn't as well appointed as some other Rose buildings (I don't know if Rose owns it or just manages it) but it's just fine for my taste. I don't need to run my fingers on marble while sitting on the crapper.

LICC is wrong about the projects, wrong about where I live, and DAMN WRONG about the joys of "living" in Long Island City. Google an address, then when Google Maps come up do the "street view," and you'll see just how horrid a place it is.

"one of my deal there made a profit $205,ooo in 24 months"

I made $400,000 in 2 months when I sold my South Beach condo for $1 million at the peak. Now the poor woman who bought it couldn't offload it for half that.

Don't count your chickens till they cross the road.

Another joy of living here, Rhino, is with all this remodeling being done, I DON'T HAVE TO PAY A SPECIAL ASSESSMENT because I don't own the place!

Of course that means I'm missing out on the tax deduction from the reduced cost basis....

...which you never get when you LOSE money on real estate, as so many people have.

JUICY?!

The only objective reviews out there on the Ellington sure make it sound dumpy. Sounds like an old, dumpy building right off Times Square. Seems to suit you, steve.
It is 4 blocks from projects. That may be fine, but it shows that steve is a hypocrite for trying to criticize me for living in a neighborhood that has projects when he is much closer to projects than I am.

In rhino's screwed up view of things, 4 blocks is a mile. That is typical of his "facts" in all his arguments. Actual data showed that his rent ratios for the late 90s were way off. Actual data shows that the cost comparison from then to now is not that far off. But of course the arrogant doofball will scream and curse and throw a tantrum in hopes that people will believe him.

It really doesn't matter what you whiners think of LIC. The people who live there love it, are very successful, are enjoying the new restaurants, shops, waterfront parks, and the great community with a great mix of young professionals in all different industries with varied backgrounds. You don't find many old, arrogant, stubborn nasty people like steve in LIC.

stevejhx:riht you are,partially.deal making has many elements,including timing.being successful at it means being right more than you're wrong-as i've been.talent discipline and intuition can make it happen in good and bad markets'especially re.mutterings on se,are occasionally interesting,but mostly a waste.steve,you're at your best when you project analysis ,and interpretation on economic and re issues;andat you worst when you sasay into small talk,like above.by the way,my profit was on a 90m investment,and realized,and rolled over into more profits.my best to you-rhinoceros.

"The only objective reviews out there on the Ellington sure make it sound dumpy. Sounds like an old, dumpy building right off Times Square"

Yes, LICC, 3-year old reviews by the disaffected can do that. Alas, you can't afford it here, so complain on!

"steve is a hypocrite for trying to criticize me for living in a neighborhood that has projects"

Yes - hypocrite: 2 buildings with under 700 residents versus the largest public housing complex in North America with TEN TIMES that number.

That's to the north. To the south is Newtown Creek. Give me an address I'll send you over a straw so you can take a sip.

2008 is now 3 years ago? Welcome to steve's world. Do you ever stop trying to distort things?

2010 - 2007 = 3

Did you go to Long Island City High School, as well, LICC?

And I'm still waiting - if LIC is such a great place, why do you blog about MANHATTAN? (Where you really want to live.)

http://www.realestatechannel.com/us-markets/commercial-real-estate-1/bob-knakal-massey-knakal-real-estate-new-york-housing-market-may-2009-apartment-data-trends-rental-rates-multifamily-housing-cap-rates-grm-791.php

Please review this again LICC. I get a kick every time you deny the clear, annotated and sourced information.

Love this line "a favored assed class".... some asses are much favored.

The comment steve quoted was made in September 2008. Another comment on that thread was made on 10/30/08. 14-16 months ago. In steve's lunacy, 14-16 months is 3 years.

steve, do you not realize that when you make such an ignorant, dumb statement, like 14-16 months is 3 years, that you not only look like a complete fool, you also appear to have a personality disorder.

rhino, how is 9th Avenue and 52nd Street four avenues away from 54th and 10 Avenue? Do you the two of you attend Liars' Anonymous classes together?

I guess down 10% is "smoother" than down 20%.

;-)

> And I'm still waiting - if LIC is such a great place, why do you blog about MANHATTAN? (Where you
> really want to live.)

They call it sour grapes.

LIC, why are you here? With what you're bound to lose in this LIC condo, you'll never be able to afford Manhattan?

I didn't think Steve was on 9th...because two avenues is not a mile. Either way, if you knew anything about Manhattan, you'd know two avenues is a world away. And as I said, the market speaks. Hell's Kitchen is more expensive, and therefore deemed nicer by more people than not. Ironically, Steve's payments are lower than yours, because you paid top dollar for a shithole. Now you have to talk up the hood because you'll never be able to leave. You have do deny the seemingly undeniable, that the real estate bubble happens and price to rent had never been as high in history, and at times had been much much lower.

> LIC, why are you here?

I've been saying it for years... folks will spend more time rationalizing bad decisions (and trying to convince others they weren't bad decisions) than trying to avoid the bad decisions in the first place.

BIG Foreclosure/Short Sales Coming to LIC LIQUIDATE BY March 2010 OR BE CRUSHED

Rhino86
about 7 hours ago
ignore this person Yes but you're a stranger here I get plenty of compliments and I am respected by many here, including Steve, for what I bring to the discussion. So what am I to make of your opinion?

Who compliments you?
Steve, who you shouted down by calling him a "gay translating accountant"?
Who else? Anyone you've not threatened to punch?

"
aboutready
3 days ago
ignore this person
report abuse
...i'm a bear, and i read a lot of bear blogs, so sometimes it seems like the world is one big bear den..."

And there lies the problem.

64WhoreStreet, AboutToBeFatReady, SteveJacko, ColumbiaDumbie, NYCsucker, ASSHINO, etc. etc.... <-----DEAD WRONG SINCE SPRING OF 2009 ABOUT NYC HOUSING MARKET.

DEAD WRONG.

ASSHINO? NYCsucker?

Kidding aside.

First sign of trouble.

http://finance.yahoo.com/echarts?s=PHK#symbol=PHK;range=5d

Who exited the Pimco's High Income fund (PHK) right before the year ended at all cost?

No worries.

Junk bonds continue to hit new highs.

http://finance.yahoo.com/echarts?s=PHK#symbol=PHK;range=5d

Want to be a junkie? Watch junk bonds my friends.

"I've been saying it for years... folks will spend more time rationalizing bad decisions (and trying to convince others they weren't bad decisions) than trying to avoid the bad decisions in the first place."

Strange thing to say when you're incessantly rationalizing yours as well. LICC doesn't have the cleanest rap sheet here, but I don't get the fuss over his "right" or reasons to post here. Can we just move on?

"how is 9th Avenue and 52nd Street four avenues away from 54th and 10 Avenue?"

Let's see, LICC: I live on 8th Avenue, not 9th Avenue. The projects are on 11th Avenue, not on 10th Avenue. The Westport is on 10th Avenue and 54th Street, and the projects lie behind it.

Maybe that's how?

Herein lies your problem: you try to criticize the place where I live yet you've never been here so you have no idea what it's actually like, and you try to blog on Manhattan real estate yet you live in Long Island City. Obviously a case of Island Envy. You try to explain why Manhattan real estate is such a "good deal" yet you don't own any or rent any or go to view any. Basically, you're a BS artists dwelling somewhere between the Newtown Creek and the Queensbridge Houses, yet you have given us no information about where you live, what type of a "deal" you got, what drove you to move to the hellhole that LIC is those 12 years ago.

Why, LICC, if you love LIC so much, are you so fixated on Manhattan?

What's the big deal on Chelsea? It doesn't have a park, dirty, Congested as hell and walking distance to them projects. Stevejhx, there's a reason you're RENTING in Chelsea and not an owner. Truth is, even you don't believe in your own bullshit.

ericho -Do you know Manhattan? 52nd and 8th is not Chelsea, which is high teens and 20's. It's considered Hell's Kitchen

No but Stevejhx lives in Chelsea.

stevejhx moved, ericho, to midtown west.

There's just about no place on the westside of Manhattan that you can't walk to the projects. Just a fact of life.

steve, you live between 8th and 9th. The projects are between 10th and 11th. Stop being disingenuous.

I didn't criticize living in the vicinity of projects. You did. I simply pointed out how you are a hypocrite for criticizing neighborhoods with projects when you live near projects.

I never lived in your building, but the only public comments out there about your building from people who lived there generally say it sucks. Those comments are from September to October 30th, 2008, which you tried to lie to people and say is 3 years ago. Which points to you being very strange.

I comment on this board about New York City real estate. The subject of these threads often cover Manhattan, Brooklyn, LIC, and other areas of and surrounding New York City.

steve, you started this thread and several times along this thread asked me to comment. You have several posts where you say: "LICC? Where is LICC?" Then I comment and you say: "Why are you commenting LICC?" - Are you bi-polar?

steve is also a hypocrite when it comes to his comments about LIC. He hasn't been to LIC in decades, knows nothing about it, yet without any provocation he gives false comment after false comment about the neighborhood. Which generally makes him look like a freak to most normal people who read these comments.

WTF! Stevejhx, you said you'll never move out of Chelsea???
Was it the high cancer rate or the projects?

"steve, you live between 8th and 9th"

HAHAHAHAHAHAHA! This is novel. LICC is telling me where I live. I love it.

LICC, the entrance to my building is on 52nd Street between Broadway and 8th Avenues, directly across from the August Wilson Theater. One more LICC theory down the drain.

"I simply pointed out how you are a hypocrite for criticizing neighborhoods with projects when you live near projects."

Really? I think you need to reread the thread. I don't live anywhere near the projects - in your fantasy world you've moved my building one block west and the projects one block east.

The projects are behind, and to some extent next to, Related's Westport building. They consist of 2 buildings with under 700 residents total. A far cry from the 7,000 residents at Queensbridge.

"He hasn't been to LIC in decades"

Yes in fact I have. It was desolate and godawful and overpriced. Are that Duane Reade and Gristedes installed yet?

"I comment on this board about New York City real estate"

Really? Show us your last post about Riverdale.

You don't even know what you comment on - 99% of what you say is on Manhattan, b/c that's what this board is primarily about.

Yes, ericho, I moved out - had been planning it for a year. I love where I lived, but I live in an apartment 30% bigger for $1,000 less a month. I LOVE IT HERE!

"Yes, ericho, I moved out - had been planning it for a year. I love where I lived, but I live in an apartment 30% bigger for $1,000 less a month. I LOVE IT HERE!"

As the saying goes...

"Money talks, bullshit walks"

I guess the extra space and extra cash in your pockets are more important than your love fest for Chelsea. Enjoy your new place.

steve, you are focusing on a distinction without a difference. Your posts are still ridiculous, full of lies and schizophrenic.

ericho, it's great here.

LICC, your ill posts are getting iller: you claim that I live on 9th Avenue when I live between 8th & Broadway, and my "posts are still ridiculous, full of lies and schizophrenic"?

Please! If you could afford to get out of LIC you would - but you're stuck.

If not, give us some deets, fess up like others on this board.

Take a look at the NY Times Business section today. RE is in for some more of what we experienced in the past two years it seems

OK, enough of all this bickering, you testosterone-driven apple-dwellers.
Perhaps LICC works close to his LIC condo. Then it makes sense.
The dear 22 year old lad (my son) (whose rent I pay ---$650 share of an uptown Manhattan apt ---- [in the hood! I think he lives in the "dirty 30" precinct ...] because I'm an over-indulgent boomer0 has told me that young people of his age are moving to LIC places because there are plenty of them available for decent rents and it's not a bad ride into Manhattan.
Perhaps we could pause this very-male urinating contest ........ it's entertaining, but enough already.
Actually, my son gave me $5000 this past summer to invest for him! He recently asked me how I invested it, and I said I just stuck it into the back because I didn't know what to do with it. He told me, fine, just keep it ---- you pay my rent, so it's a good trade!
This is true; I'm not making it up, Rhino.

"decent rents and it's not a bad ride into Manhattan"

1 stop from Manhattan (Grand Central).

So my son tells me he's interested in day-trading on the internet, of which I know nothing ---- and yet I've got that 5K he gave me. I've got friends who know now to day-trade and make a few bucks.
Is it a viable activity for a young person with excellent math skills and street smarts to boot?
Forgive me my ignorance. I only look at my money four times a year or even less.

And you pay his rent?

R U crazy?

Wait a minute. No, I'm not crazy --- well, actually I'm good crazy. I'm employed, liquid, have money, am productive.
But my question is: he's very smart math-wise --- can do it all in his head instantly.
Actually, he tells me he want to be a wall street trader but he know that job is problematic now ....
But my question is: can he in fact make a bit of money doing that day trading fun and games?
I'm paranoid and worry that it'll just lead him to becoming a gambling addict.
Is day-trading a good pass-time to make a few hundred bucks once a month if you're lucky?

Forgive typos above. My new Google smartphone is acting up. Not.

poorishlady, day trading is gambling. He may do well for himself for a while, but a smart 24 year-old has to realize that there are plenty of more experienced people trying to do the same thing. It's incredibly difficult to beat the market. A career in finance (though not for the faint of heart, especially now) is a safer way to make money.

"steve, you started this thread and several times along this thread asked me to comment. You have several posts where you say: "LICC? Where is LICC?" Then I comment and you say: "Why are you commenting LICC?" - Are you bi-polar?"

Bingo. Steve, it's pathological at this point. Either you have a crush on LICC or you're lacking in other human beings to interact with. My prediction: you'll end up living in LIC. And enjoying it.

"Really? Show us your last post about Riverdale."

And yours? Please, this board is NYC-focused, which means a lot of Manhattan talk, but discussion about other boroughs is more than fine.

I have posted on Riverdale!

And FYI I post as I take a break from work. LICC keeps me amused. He's almost the last of a dead breed.

"So my son tells me he's interested in day-trading on the internet, of which I know nothing ---- and yet I've got that 5K he gave me. I've got friends who know now to day-trade and make a few bucks.
Is it a viable activity for a young person with excellent math skills and street smarts to boot?
Forgive me my ignorance. I only look at my money four times a year or even less."

Nope, not even close. Maybe one of the worst lessons to teach a kid.

First off, its a negative sum game (versus holding the index). Commissions + spreads can be very significant, particularly to individual investors without real access. One book - the smartest investment guide you'll ever need - reviews a day trading company account base, and can't fine one that made money over 15 years.

Its been well established that people exaggerate the wins and forget the losses. Do you know how many people who thought they were geniuses in 2000? Of course they weren't. And we just went through a 60% runup. Anyone with a pulse made money. Do they actually know how to trade? Most likely not.

Second, you're fighting against bigger folk with a lot more than you do. Not just cheaper and faster trades, but they have better info than you. Hedge funds pay BIG money for access to early retail sales figures, conversations with managers, etc.etc. They simply know more than you do.

Count the number of day traders in 2001 vs. 1999. Did they all suddenly forget how to do it?