just watch. GDP slowing, wall street going sour, miss expectations, miss earnings, dollar sinking. Real estate even in Manhattan will decline. Mark this thread. I promise you this is the start of a decline and price-readjustments. Wall Street earnings will sour and the economy will be moving into a recession for the 08 elections. On a final note, the FED will also have a huge problem as they are... [more]
just watch. GDP slowing, wall street going sour, miss expectations, miss earnings, dollar sinking. Real estate even in Manhattan will decline. Mark this thread. I promise you this is the start of a decline and price-readjustments. Wall Street earnings will sour and the economy will be moving into a recession for the 08 elections. On a final note, the FED will also have a huge problem as they are forced to raise interest rates to 5.5 this fall/winter, mortgages will re-adjust. The reason the FED will be forced to re-adjust is because the DOLLAR is getting destroyed and we depend on foreign investment for our survival. If we do not maintain increased rates, then they will go to Europe, where the ECB is in rate-hike mode.
Remember this post. It will be of value to you all. I call a 15% correction coming in Manhattan real estate before January, 2008. Just watch! Especially the area under 1M will be hit most.
Best,
J
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Response by aifamm
about 6 years ago
Posts: 483
Member since: Sep 2007
This thread is laughable now.
Just stopped by looking for an apt upgrade and had some chuckles re-reading the doom and gloom from MMAfia, HimWhoKnows and others. No doubt, the new wave of haters is drumming up the fear and doubt again.
"Most studios, in 2010, will be 200K and 1 BR's ~300K..."
HAHA, some studios are pushing 1M now.
Hope you old timers didn't sit on the sidelines and made some serious bank. Peace!
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Response by Anton
about 6 years ago
Posts: 507
Member since: May 2019
Maybe not, aifamm. This time it's harder to hold up the already huge bubble, unless the new QEs are 10+ bigger in size than QE1+QE2+QE3
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Response by KeithBurkhardt
about 6 years ago
Posts: 2982
Member since: Aug 2008
Some great old names on this thread! There was definitely a lot more color popping on the streeteasy forum back then. I just can't believe it's been 12 years! It's great being able to be a Monday morning quarterback all the various opinions and predictions...
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Response by truthskr10
about 6 years ago
Posts: 4088
Member since: Jul 2009
Not that laughable, I mean second poster was fairly close to the mark
"Response by NotAnonymous
over 12 years ago
Posts: 94
Member since: Jun 2007
I feel OP has some merit but not as drastic and it will start some time in 2009."
That was prime time for the Lehman collapse. Real estate spent the next 2 years stagnant with an approx 20% correction peaking in the last quarter 2010/1st quarter 2011.
Whats missing today is all those chinese buyer tho
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This thread is laughable now.
Just stopped by looking for an apt upgrade and had some chuckles re-reading the doom and gloom from MMAfia, HimWhoKnows and others. No doubt, the new wave of haters is drumming up the fear and doubt again.
"Most studios, in 2010, will be 200K and 1 BR's ~300K..."
HAHA, some studios are pushing 1M now.
Hope you old timers didn't sit on the sidelines and made some serious bank. Peace!
Maybe not, aifamm. This time it's harder to hold up the already huge bubble, unless the new QEs are 10+ bigger in size than QE1+QE2+QE3
Some great old names on this thread! There was definitely a lot more color popping on the streeteasy forum back then. I just can't believe it's been 12 years! It's great being able to be a Monday morning quarterback all the various opinions and predictions...
Not that laughable, I mean second poster was fairly close to the mark
"Response by NotAnonymous
over 12 years ago
Posts: 94
Member since: Jun 2007
I feel OP has some merit but not as drastic and it will start some time in 2009."
That was prime time for the Lehman collapse. Real estate spent the next 2 years stagnant with an approx 20% correction peaking in the last quarter 2010/1st quarter 2011.
Whats missing today is all those chinese buyer tho