Geranimo!

But - YOU CAN'T SPELL!

Geronimo!

Not yet - we all know RE lags. Funny how it's following the '87 crash. Took years to really hit the big M. Bring it on.

But immediately (within weeks) following the Lehman Bros debacle, there was a brief period (month) that it seems quality units sold at bargain prices but very rapidly recovered. Will there be a repeat or perhaps the beginning of a true downturn in Manhattan RE?

$500 psf, here we come?

Same thing happened downtown after 9/11 but the window was brief. We shall see. Right now I'm happy to be renting.

garanimal!

no fiscal stimulus unless/until things get a whole lot worse.
banks are taking it in the shorts again.
no one is saying dow is back where it was a year ago---their saying we just lost a trillion dollars plus.

obama has soured his base beyond hope.

gas should be cheaper but that always gets less attention then when it goes up.

more state/local municipal layoffs coming.

dow continues to sink---the big question is to what number?

"Will there be a repeat or perhaps the beginning of a true downturn in Manhattan RE?"

Between Nov 2008 and March 2009, the Fed pumped $1 trillion into the economy and Obama signed a $787B stimulus package. We know there will be no more stimulus, so the answer depends on whether we see QE3 and whether it is effective.

The only possible upside for NYC real estate is a collapse of the USD.

Hehehehehe. I don't wanna say it again, but I will cause I just had some really nice cakes from harrod's and I got to pet a nice bunny.

$500psf here we come!!!!!! No doubt . Congrats to columbia for selling at the peak. Falco for keeping the faith.

For everyone else, well you had 3 yrs of w67's free advice. Enjoy the ride down.

Buy now or be priced out forever!

why are you assholes so happy? do you really think it will end at cheaper real estate? wtf

Actually read an interesting allocation model this weekend that stressed rental properties and dividend paying stocks. Rental properties are where it's at. I would buy EQR now if they returned more in the form of dividends.

Riversider, what you are saying is you would invest EQR if the price were lower. I'd invest in EQR too if it were 40% cheaper than today's close (a pro forma price that would yield 4.5%). Right now you can get 3.7% from triple AAA stock JNJ. Why shouldn't a REIT yield more?

if your grandmother had wheels, she'd be a baby carriage?

People only care about themselves on this board....who cares if the economy tanks, people lose their jobs, people lose their homes......many of the people on this board PRAY for a crash so they can buy a 1 bedroom apt for 350k...regardless of anything else happening to anyone else...

columbiacounty, did you find the penis you were seeking yesterday?

>Re bargin hunters:
>Start Your Engines!

Holy crap, are we supposed to take guidance from someone who spells "Geranimo" and "defaltion".

>and I got to pet a nice bunny.

Aww, one of those cute photos where an ape is holdiny a bunny. Such warmth

500psf!!!

Jackson you got a good point but don't blame the simple citizen for wanting to be better financially, it's only natural. blame your gvt that gave away hundred of billions of dollars to reckless banks that didn't have any problem to use the bailout money to give away insane bonuses.

Looks like no rescue from Uncle Ben today.

no one cares what uncle Ben says....

nothing sticks together...

property to sell???
Best start NOW!

Actually everybody cares what he says. Sad but true.

In any event the window to sell has probably closed for a while. Buyers will be asking for a global uncertainty discount and sellers will be looking at spring comps.

You know who doesn't care? My cat Rosalind doesn't care. All she ever thinks about is herself.

“The economy is still producing at levels well below its potential; consequently, accommodative monetary policies are still needed,” Bernanke said today in a speech to a conference in Atlanta. At the same time, the Fed “will take whatever actions are necessary to keep inflation well controlled,” he said.
“Overall, the economic recovery appears to be continuing at a moderate pace, albeit at a rate that is both uneven across sectors and frustratingly slow from the perspective of millions of unemployed and underemployed workers.”
"We will do whatever is necessary to prop up NYC real estate and we will guarantee any difference in home sales prices below $700 per sq ft."

http://www.bloomberg.com/news/2011-06-07/bernanke-says-accommodative-policy-needed-for-uneven-economic-recovery.html

I am ready to buy - when do we get to see some real "bargains"? If you see them, please post.