Renters: The End of Free Months

Wow, you really added a lot to the discussion with that comment sme.

Why does LICcomm consistently abbreviate "somewhereelse" as "sme"? Is it an inside joke, or merely another education problem?

67 calling someone "dickbreath" and being censored, aboutready calling someone a "fucktard"...yes, all of the usual suspect up to their usual antics

well said, language like that is associated with trash(you can pick your color). If you want to be listened to , speak like an adult that went to a decent university.

shove it, you stupid old fart.

and now we have a complete chorus.....cc weighing in (only after your's truly of course-who's calling who a troll) and in defense of his buddies by attacking others.

there goes a greyed out quote from an imp

> Wow, you really added a lot to the discussion with that comment sme.

Agreed, contradicting moronic claims isn't adding a huge amount of value, but you get the hypocrisy given you are the one who made the moronic statement?

Jonesy talking about other peoples language? Hi-f'ng-larious.

Rs, tell that to Jon Stewart, uptight tard.

You can pick your color? How fucking rude.

Wow, rs, way to show your true colors.

Yale Linguistics degree?

you really obsess about the Yale degree, don't you? It was in psych and it tells me very clearly that you have some fairly significant anal-retentive issues.

Really, this is too easy.

you really obsess about the Yale degree,
I admit it. I do, but only because your conduct, behavior and language suggest something very different.

Couldn't agree more Riversider.

If I was fortunate enough to go to Yale,(I financed college with manual labor) I would try to live up to it.. but that's just me.

ar, log-off and go talk to your husband. you're unwelcome here by many.

I went to Yale and I don't feel any pressure to "live up to it". I was given an opportunity (even if you paid full tuition, you are being subsidized), and I give back to give others the same opportunity out of a sense of fairness. I don't quite feel any need to "represent" though.

Licc and rs, true love, with jonesy to boot.

licc, people just LOVE you here. I see people support you all the time. Nice try though. And of course that wasn't personal.

Rs, sphincter? how tight can it get?

Funny, I confused honesy with licc. How appropriate.

Rs, you tard, I pushed grocery carts during high school for a living. Before that I picked berries during the summers.

I worked throughout college and during the summers.

A.R.
Alwasy showing off the erudite knowledge. So what is the etymology of this word "TURD". As I said, I don't have the Yale Linguistics degree.

Yes, you have been deprived, haven't you rs? At Yale if you qualified for scholarships you would have had to work, but not manual labor.

Ok, turd.

Aren't you elevated? And how about that nasty comment earlier? Real classy, rs.

"speak like an adult that went to a decent university"

... speak like an adult ***who*** went to a decent university! Your use of language is absolutely disgraceful.

rs, sorry i don't think you understand the yale degree. i wasn't doing drugs at the time, at least not very often, but our resident professor advisors often were with us. and this was the mid-80's. we swore all the time, as did many of our professors, and nobody seemed to care. fancy that?

i financed college with student loans, work, some parental contributions, and a huge national merit corporate four year scholarship (half of my total costs), and one other merit scholarship for creative writing, of all things.

sorry you need to feel so preoccupied by my undergraduate degree. and the anglo-saxon expletives. just get that stick out of your ass. it's making you dull.

is irregardless an expletive?

have you repaid to society the scholarship you received?

"Hi-f'ng-larious"

yes, it certainly is, good job with the f'ng in the middle. That really brings home the point.

ar- no one cares about your college memories. We just point out that your comments on this board reflect a low class trash-mouth, which is not the common experience when dealing with people who have had good educations.

Not sure she has a good education. Went to a good school. But ... uses words like irregardless. Not supportive of the husband. No job or prospects.

aboutready
about 20 hours ago bjw, i don't think you'd characterize me as disingenuous. and i can tell you that what i'm seeing in the comps RIGHT NOW from the spring frenzy is stunning even to me. i'm only halfway through the last month for midtown and the UES, i've finished upper manhattan. i wouldn't be surprised if downtown was a bit stronger, but right now i'm not even betting on that. i'll report after i look.

but i've looked at about 600 closed sales over the last three days. as i've been saying there are some pockets of strength, people with trophy properties who have some time seem to do ok, some established condos, particularly in midtown, are doing well. there's an outlier here and there. but the studio to moderate two bedroom market is getting FUCKING HAMMERED.

this is also a very classy (as well as ill-formed and incorrect) reply by our potty-mouthed yaley.

lately aboutready says she doesn't deserve to pay real estate estate taxes:

"and i do pay real estate taxes (none of which i think i deserve, btw"

The Ready family pays real estate taxes upstate. No issue there.

But why does she believe she doesn't deserve to pay it?

Why does she want treble money damages from her landlord?

I think that was a typo. Perhaps she's inebriated.

So you think she does want to pay the taxes but on the other hand she wants treble monetary damages from her landlord?

rs, you turd. i immediately corrected that post. i meant i didn't deserve the tax deduction, which was the first part of the sentence.

and no, dear, sober as can be. you're really in great form today, aren't you? stay classy, rs.

"We just point out that your comments on this board reflect a low class trash-mouth, which is not the common experience when dealing with people who have had good educations."

You get high class and low class at good schools, sure... but why are you so concerned about that, LIC... when you're both low class and lousy schoool?

it always makes me laugh when honesy refers to someone else's language. maybe he's sexist as well as being an asshole, and it's ok when men swear.

Somewherelse, I don't see an LIC post. What are you referring to?

I don't recall Riversider using trashy language. AR, you win the prize for being a trash-mouth.

Why doesn't aboutready want to pay real estate taxes?

Why does aboutready feel she is owed treble monetary damages from her landlord because she is paying a rent controlled rate?

Why did she treat her husband so poorly when his father died recently?

somewhereelse, thanks for proving my point from another thread- "the only ones on this board who ever have an issue with me are the few who consistentely make arrogant, obnoxious comments and who can't stand that I call them out on their mistakes, lies, hypocrisy and lack of civility."

Talk about lack of civility. Imagine your spouse's parent dies and you just don't even care.

RS, I made this comment half a page up:

ar- no one cares about your college memories. We just point out that your comments on this board reflect a low class trash-mouth, which is not the common experience when dealing with people who have had good educations.

actually, i recall riversider telling me to fuck off. i was rather proud of him.

licc, for the first and last time, i don't care whether or not you care. got it?

"i don't care whether or not you care."

Why would we expect any less. You didn't even care when your husband's father died.

AR- I didn't ask you to care. There goes your ego again . . .

good. then i'll post whatever i want, and you can write that you don't care about what i'm writing.

glad that's settled.

Oh good, tell us that story about how you love your family.

why don't you tell us the story of who you really are. how soon will this incarnation disppear?

Can you repeat that?

SO many "ignored" people on this thread by now it takes about 5 minutes to read the whole thing.

I take it that this is now nothing but personal insults.

I'm columbiacounty

jason, if you don't have me on ignore, i'll add something on topic. from the banner ads on SE, columbus square had been recently advertising one month free rent. now they are back up to two.

96th and 100th street? No surprise there.

really, so why did they decrease the incentive to one month and then increase it to two?

idiot.

Bad pricing. You really should watch the language. You should not expect respect when you talk trash.

idiot is not trash, it's a factual statement.

you really shouldn't expect respect when you dissemble so frequently.

idiot is not trash, it's a factual statement.

huh?

meltdown

Who? Endlessly you?

yes, meltdown by whom? me? not.

you? you seem to be rather testy these days, rs. maybe if you quit being so deceptive you'd be happier.

columbiacounty Ignored comment. Unhide

this has gotten ugly....just look at all the latest posts....i'm logging off i think until streeteasy polices this a bit better. i'm an asshole, sure, but try and keep things on topic, this has gotten out of hand.

Sound way too much like hfscomm1. It's not working anymore.

Sound way too much like hfscomm1. It's not working anymore.

cc, it's going to be so funny when you're proved wrong on this topic....did you ever see the movie ratatouille? the little cartoon french head chef? thats you brother. how many people killed pres kennedy?

But you're still here. Despite what you said.

columbiacounty
39 minutes ago
ignore this person
report abuse Just teasing us again. So you're off to curbed at 10 pm? Nevertoreturnhere?

i said i would be off at ten bitch, as you acknowledge above...ever see the woman in "requiem for a dream" your future buddy.
michael clayton is still on for a couple of minutes, and this is proving entertaining, sort of like rubbernecking...

So yet another lie?

nope, im out NOW cocksucker, stroke of 10...enjoy your sad twisted little world...with all of your friends, tchau

Promise? You're gone forever?

Again, so many ignored posts I missed a few - but Columbus Square is a brand new mostly vacant bldg - even in 2006 places like this would have offered free months to fill up like 5000 units.

The fact is places to the NORTH of it - think the Avalon bldg at 110th/Morningside - are NOT advertising free months.

I think you have to look at the effective rents, though. Columbus is pricy even with the free months versus some newer buildings 20-30 blocks to the south.

wait for it..wait for it...

Free Months of rent will be back shortly

Don't hold your breath for a bounce in home prices
By ALAN ZIBEL (AP) – 15 hours ago
WASHINGTON — Thought the housing crisis was over? Not quite.
Despite four years of falling prices and recent signs that they were finally bottoming out, homes are expected to lose still more value in many metro areas over the next year.
Parts of the country already pummeled by the housing crisis, like Las Vegas, Phoenix and Miami, will be hit hardest. But even some places that have rebounded or held up relatively well — including NEW YORK, Los Angeles and Washington, D.C. — will suffer, too.
That's the conclusion of economists who have been reducing their estimates for home prices as the outlook for the economic recovery has darkened. The number of homes for sale or headed for foreclosure is so high that they think prices will be even lower by next July.

July 27 (Bloomberg) -- U.S. apartment landlords are seeing a surge in rentals as mounting foreclosures reduce homeownership and an improving job market for young adults encourages them to find their own places to live.

The number of occupied apartments increased by 215,000 in the 64 largest U.S. markets in the first half of the year, according to MPF Research, almost twice the units added in all of 2009 and the most since the firm began tracking the data in 1992. The vacancy rate declined to 6.6 percent last month from 8.2 percent in December.

“Overall demand is pretty stunningly strong in the first half,” Greg Willett, a vice president at the Carrollton, Texas- based apartment-industry research firm, said in an interview.

The economy’s recovery from the worst recession since the 1930s has revived hiring enough to stimulate demand for apartments. The growth hasn’t been enough to prevent more home foreclosures, which lift rental demand, or to lead to a sustained rebound in homebuying.

New jobs are the biggest driver of apartment occupancy. Employers began hiring again in January, adding an average of 147,000 jobs a month through June, according to the Labor Department. Employment for people 20 to 29 years old -- a key group for landlords -- rose in May and June on a year-over-year basis for the first time since the end of 2007.

While payroll growth has been modest compared with pre- recession levels, it may be enough to have persuaded some families sharing housing with relatives to get their own places, according to Mark Zandi, chief economist of Moody’s Analytics Inc. in West Chester, Pennsylvania.

“As homeownership continues to decline, people need to live somewhere,” said Henry Cisneros, who was President Bill Clinton’s housing secretary from 1993 to 1997 and is executive chairman of CityView, a real estate investment firm in Los Angeles that focuses on urban projects including apartments

"I was tired of depending on my family for housing,” said Odenthal, 27, who also stayed with his parents in Jersey City. “I can’t imagine doing that forever, and all retiring to Florida together.”

http://www.businessweek.com/news/2010-07-27/apartment-rentals-surge-in-u-s-on-home-foreclosures-job-gains.html

exactly...what better way to snag all those renters than offering incentives.

foreclosed properties do not remain vacant forever, except in places like Detroit.

cycles. within a housing disaster. and they're still building.

Sniper's conclusion is wrong. Lower home prices do not mean lower rents. Lower rents may translate to declining home prices but not vice versa. As the bloomberg article indicated rents are driven by employment. Additionally a declining rate of home ownership translates into increased rental demand.

Yes, they are building..
http://www.calculatedriskblog.com/2010/07/home-builders-to-start-building-more.html

Home builders ... are stuck with thousands of acres that are prone to lose value as the market struggles. Many will build homes on the land, rather than write off its value and wait for the market to improve.

... "They're discounting the homes, they're making very small profit margins, but they're building homes." [said Brad Hunter, chief economist at Metrostudy]

i commented on "free months of rent", not "lower rents." Free months are used as incentives to get tenants.

free months equates to lower effective net rent..

my only comments on this thread referred to the title "the end of free months." i believe that we have not send the end of free months...just a temporary stay on them (this is an opinion - only time will tell). i make no mention of lower home prices, lower rents, etc. i could not care less. when we see free months again you will tell me you were wrong. when we don't see free months again you can hunt me down and i will tell you that i was wrong.

you have posted that my "conclusion is wrong." i have not made any conclusions.

the census bureau reported that the rental vacancy rate remained the same, at about 10.6%.

http://www.calculatedriskblog.com/2010/07/q2-2010-homeownership-rate-lowest-since.html

"Other reports have suggested that the rental vacancy rate has declined slightly. This report is nationwide and includes homes for rent.

It's hard to define a "normal" rental vacancy rate based on the historical series, but we can probably expect the rate to trend back towards 8%. According to the Census Bureau there are close to 41 million rental units in the U.S. If the rental vacancy rate declined from 10.6% to 8%, then 2.6% X 41 million units or 1.07 million excess units would have to be absorbed.

This suggests there are still about 1.6 million excess housing units. These excess units will keep pressure on housing starts, rents and house prices for some time."