Stock Market effect on RE this Weekend

Why mention the dead person in the foyer.... cover it up with some linen and sell the character of the place....

Apparently, they only mention the non-smelly farts...

Open Houses
Sunday, May 23
Manhattan

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2108 open houses found.

Flmao. R any of them throwing in $8k plus a 55 inch and a BMW x5?

Truthy lovez ya.

Does that mean 1/4 of all actives are having an open house this weekend?

Gonna be lots of lonely borkers.

I think I'll hire 8 more buyer brokers to cover all the units I want to see sunday.

Can anyone recommend an open house in Williamsburg Saturday where they serve good muffins and coffee ?

We found 91 listings with Open Houses on May 23, 2010
Median price: $679,000 Median size: 1,048 ft² Median price per ft²: $667
Information on Williamsburg

That's out of 598 total listings in WB.

I think some will serve croissants.
(Of course they won't be as good as the ones at the Setai.)

They're just gearing up for the hot summer season, when everyone will be out buying.

Truth, that's nice of you but i have no intention to see it all, i just want to know which ones are serving breakfast... :-p

Sledgy...you sure?! I mean don't wait too long, williamsburg is flying off the shelf.
It's only 1/6th of active.

"Can anyone recommend an open house in Williamsburg Saturday where they serve good muffins and coffee ?"

Ha. Reminds me of the RE scene in "I Love You Man".

"They're just gearing up for the hot summer season, when everyone will be out buying."

Isn't "next season" always the supposed hot season? Was there ever a time any broker said "yeah, we sold a few this month, but next month is slow season"?

"It's only 1/6th of active."
Yeah! But i'm 1/2 broke plus wifey said to me: Honey, we need to save some money! So i need to think of free brunch options for the week end ...

Let ericho take you out. I hear he's making a killlllling in the market.
His skinny finger hit the buy button but left out a zero.
order was; BUY DOW JONES 1100
..and someone accidentally sold it to him....or it was a computer glitch...actually they still don't know what it was but don't worry, there is no hanky panky in the market...this is america.

no need to worry its not like free money from the fed and real estate started this whole mess
new york re is in great shape, banks in ny are doing great, bonuses are terrific, goldman is happy as can be , AND we have a great successor to the greatest treasury secretary ever - hank paulson (reason goldman is happy ).
by the way, geitner doesnt think that the europe mess will have ANY negative effect on the usa, so really why worry - re in nyc is only going higher , bid as high as you can and more so you can get in while you still can

I dont think the stock market is that correlated to real estate. That said there is a "media effect" and after a week of really bad news, I think buyers of any major purchase take a pause. Of corse stocks rising big time produces a wealth effect that helps with down payments, but we haven't had that in years. Stocks are flat since 2000.

"That said there is a "media effect" and after a week of really bad news, I think buyers of any major purchase take a pause."

Thats what I'm talking about....

"Stocks are flat since 2000."

At similar levels... but I'm not sure I'd call up 40%, down 70%, up 60% "flat"

;-)

but I'm not sure I'd call up 40%, down 70%, up 60%

Cyclizine anyone?

thank you for the dead person in the foyer imagery.

?? Cyclizine is for motion sickness

Do you think you're going to have a second RE bubble? Not for the next 30 years, stock market wasn't flat - more like a wild roller coaster ride.

Real Estate bubble, not in your life time. Another crash? Almost as unlikely.

That's real estate crash.

That's the point, RE prices are going to stay the same more or less. Just account for inflation and dependability of NYC residents on the stock market.

I am going to see both.. Still gonna last for an another 50-60 years at least.

I think we have bit longer to go in the red spectrum

http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/100_year_dow_bull_bear_periods.jpg

And BTW, ammended sunday OH count

Open Houses
Sunday, May 23
Manhattan

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2442 open houses found

R they shipping in brokers from jersey to do all the open houses? My god, will it hit 9.9k open houses by the end of June?

Romay, my bad.

Hey kspeak, you bought your NYC re on data. What does 1/5 of listings having an open house this Sunday do for your 2004 prices holding theory?

Open Houses
Sunday, June 06
Manhattan
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2068 open houses found.

And it's still thursday.

And sorry W67, I know you dedicated a thread to this topic but I couldnt find it.

Update

Open Houses
Sunday, June 06
Manhattan
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2535 open houses found.

RE sales, in the short term will be crushed by the immediate trends in the market.
We all know that emotions rule the day. Unbridled optimism leads to bidding wars, pessimism leads to watch and wait. There are already signs of a potential double dip and today's jobs report confirm those suspicions. No tax credits to push things along either. It's going to be a slow summer of languishing open houses and starving Brokers fatiguing from the lack of food and photocopying. Might be a hot summer too filled with all sorts of good news like hurricanes in the gulf and disastrous exports as the euro drifts gently down to the bottom of the ocean. Hey! maybe the sinking euro will plug the well. there's your silver lining...I knew I'd find it. Always look on the brighter side of life.

Not to mention geopolitical issues, N. Korea,Israel,Iran,Turkey......this is going to be a real ugly summer.

it was 1984.......hot, hot, hot....
it's 1984 all over again...

Hot summer streets
And the pavements are burning
I sit around

Too hot to handle, baby
Trying to smile
But the air is so heavy and dry

Strange voices are saying
What did they say
Things I can't understand
It's too close for comfort
This heat has got right out of hand

It's a cruel, cruel summer
Leaving me here on my own
It's a cruel, cruel summer
Now you're gone

The city is crowded
My friends are away
And I'm on my own

It's too hot to handle
So I got to get up and go

It's a cruel, cruel summer
Leaving me here on my own
It's a cruel,
It's a cruel cruel summer
Now you're gone
You're not the only one

It's a cruel, cruel summer
Leaving me
Leaving me here on my own
It's a cruel,
It's a cruel cruel summer
Now you're gone

It's a cruel, cruel summer
Leaving me here on my own
It's a cruel, cruel summer
Now you're gone
You're not the only one

It's a cruel, cruel summer
Leaving me
Leaving me here on my own
It's a cruel,
It's a cruel cruel summer
Now you're gone
You're not the only one

Ha ....yeah the 80's were stressful.
I can remember watching ball games with ticker news at the bottom of the screen relaying US/Soviet nuclear arms talks.
But of course, both parties were quite clear there was no paradise awaiting at a bad ending to one of those parties.

Yeah, even though those communists hated capitalism, luckily for us they didn't hate capitalism so much they wanted to die in order to destroy it.

The poor turnout at today's 2,000+ open houses was due entirely to the tornado.

Lots of leftover warm fresh-baked chocolate-chip cookies.

A broker will turn this into a 'positive'. Somehow, someway........

2.5k open houses!!!!!! Yeah!!!!!!

New buyers are getting their down payments murdered, or sitting around with a near zero yield. How can that not be correlated? Not taking into account the psychological impact of a barrage of bad news, there are real financial consequences to the RE market from the stock market. There are a million open houses, but 95% of them involve idiots trying to pitch condos in fringe neighborhoods at $1500psf and up. Its madness.

Any professional knows that you can not look at short term matters when considering long-term assets.