New York Real Estate to make a comeback in 2010

Your thread title isn't what the article is actually saying. There is nothing to "hate" on but the article is titled "Will bonuses save the day for Manhattan real estate?" and it opens with this sentence: "Bonuses are making a comeback on Wall Street and that MIGHT help stabilize the Manhattan real estate market." It is basically an act of guess work which most articles about real estate and frankly most posts on here are.

http://www.housingpredictor.com/worst_2010.html

Number One! Number One! Number One!

LOL. Who's a hater? I wish things would turn around.
I'd rather pay more for an apartment and know it will be worth more the next year and year after that.

I don't understand what it is you think this article provides?

It is titled "Will bonuses save the day for Manahattan RE?" You would think a writer for CNN has some elemenatary skills in writing and cite some bonus figures? And with statistic sources, maybe include what percentage of these bonus receivers may be in the market for RE. And in the market for Manhattan RE?

Instead, the writer goes on to quote RE sales people exclusively for the rest of the article.

And Offers only 1 sentence on bonus receivers..."Financial industry jobs pay much better than any other major New York business, with the sector accounting for just 5% of employment in the city but a whopping 25% of earnings. And those bankers pulling down big bonuses buy many of the luxury apartments sold in Manhattan's priciest districts."

So 5% of people working in NYC are the pool for these bonuses. How many houses are they going to buy?

Are they going to buy second and third properties for investment? Without a stable rental market?
Paying 25 times plus rent roll for an investment?
I don't know, call me naive but I think anyone who made bonuses this year might be actually intelligent.

So does this article tell you what you need to know for 2010? Will you be buying any real estate this year as it sound like a can't miss opportunity based on this article?

Did you click on the next article titled "3 reasons home pricers are heading lower?"

Michael Jackson was on the comeback trail too.

manhattan real estate is going down this winter even more. Real estate companies are lying and trying to trick peaople with their pony #s. When we are at the bottom we are staying there for a while anyway.
Time to wait to buy. Renting is the best in NYC now.

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

CNN reporters are even less informed than bloggers. Even the deranged bloggers.

alanhart: hilarious. you are on a roll. however who the hell is the source? a bit of sus is in order

Ask any of your friend working on Wall street, and they will tell you the bonus will not save the housing market.

Point one: This year, bonus doesn't mean cash anymore. 80% stock you have to hold for several years and may even be called back by the company cannot buy you anything.

Point two: The very little cash you will hold is not yours for sure. Ever learned from last year and London? Crazy government can ask for 90% for tax.

So, who is buying now?