Nightmare scenario unraveling on Wall Street.

....I guess you haven't been hitting the open houses this past Sunday,...

HimWhoKnows knows has been posting these doom and gloom messages for over a year now. His screen name is the ultimate oxymoron. HimWhoKnows don’t know shit.

I bet its Spunky in disguise. He sold his C & MER, got short, and now is spamming doom & gloom messages so he can buy more property in NYC cheaper and rent it out to who he calls fools that build his wealth. Its so clear.

Oh yes - HimWHoKnows - the guy who "called" the first large Fed rate cut and predicted a big up day in the market, only to be caught red handed with his hand in the cookie jar when it became apparent that he heard the rate cut posted, and then IMMEDIATELY went to streeteasy 'claiming' that there would be a Fed rate cut and the stocks would be waaaay up that day, which they were, of course.

HimWHoKnows, I started a little thread just for YOU - it's called "Where are all the idiots who made the 2007 doomsday predictions?" It's only got 1,283 posts currently. Why don't you read all the posts and respond there, rather than wasting all our time here?

In fact, just for yucks, here is the actual posting and reply from 17 August 2007:

HimWhoKnows - about 6 months ago

"despite asia being down big, the dow and nasdaq will have large gains today, friday going into the weekend. The financials will do especially well, today august 17. i will report more to you next week. good luck!"

pseudonym - about 6 months ago

Yeah - nice of you to post this little factoid AFTER the Fed just reduced discount rates by 1/2% over a half hour ago, and the market futures (mainly due to short coverage) snapped from negative territory into positive - of COURSE "...despite asia being down big, the dow and nasdaq will have large gains today, friday going into the weekend. The financials will do especially well, today august 17..." - DUH!! We would of been just a weeeeeeeeeee bit more impressed had you made this prediction BEFORE the Fed announcement, not AFTER. Retard."

What cracks me up most about this is the detail HimWhoKnows went into to make absolutely sure beyond a shadow of a doubt that we understood he "predicted" this by being so uber-specific about the date "...The financials will do especially well, today august 17..." and passing it off as if he had called this rate cut and move in advance!

You're a friggin' GENIUS, Mr. HimWhoKnows!

"Wall Street is laying off hundreds of thousands in the city. " OMG! Not hundred of thousands! That like...like hundreds of thousands! Manhattan is going to look like it did in Will Smith's "I Am Legend" movie! I'm going to wait until the good apartments are just abandoned and then move into one I like.

Gee whiz. That's some pretty scary shit, himwhoknows. I noticed a lot of folks running out of 75 Wall Street yesterday. Thought it was from an openhouse but could be they were laid off.

Maybe why this is why so many buildings are going condo down around Wall Street. Cause all these people are layed off. It's logical, ain't it?

good point, himwhodesntknow - with all of these empty banks on Wall St., they're probably being converted into condos for foreigners - the only ones who can afford them.

I find it sadly amusing that people still have their blinders on. Your great grandfathers must have been saying the same things in '29...real estate is booming, the market will only go up, etc.

Look, Julia. I'm pretty bearish on the markets right now and fear no one is meaningfully discussing how inflation will impact the RE markets if inflation really takes told. That being said, stupid statements like "hundreds of thousands" in NYC being laid off are pretty useless. We're entering a troubled economy it seems, but the OP is not a very constructive conversation starter.

OP's just trying to stir things up, that's all. go back to work people.

Thanks, uptowngal. You're right I'm going to take my dog for a walk and pick up my mail. I notice the stock market isn't doing too well today. But the Obama and Hillary results will be good entertainment tonight and will distract us from RE and the Rapture. Maybe the Rapture will come tonight and we won't even notice.

FWIW, the title of this thread contains incorrect word choice and clearly unintended meaning. Were a "nightmare scenario" to "unravel," it would mean that a bad situation was changing to something unforeseen--that is, typically from a state of order to one of relative disorder: "Our picnic plans unraveled when it unexpectedly began to rain." Clearly the original poster did not intend to say that a nightmare was unraveling and becoming an unexpectedly wonderful situation. What the original poster no doubt intended to convey was that a nightmare scenario was "unfolding." This is, a bad situation was revealing itself. Sloppy. I detest sloppy. That's my William Safire moment.

Kylewest - If you're going to have a Safire moment, please explain how a scenario can fold and unfold.

"Him who Knows" is clearly an idiot. Wall street is NOT layign off Hundreds of Thousands in the city. Idiot thing to say. Infact there are NOT even hundreds of thousands of Wall street employees to begin with in NYC. Idiot. Credit IS available - just after a healthy and prudent qualification process. UNQUALIFIED buyers have no credit available to them - that is the way it is supposed to be! The dollar is "imploding". Okay, well that is a strong POSITIVE for the NYC real estate market. Idiot. I"m not saying I can predict whether the NYC real estate market will go up or down, but what I DO know is that your reasons for this impeding crisis and nightmare are completely nonsensical ramblings of an idiot with no understanding of financial markets

A scenario unfolds when unfold means to lay open to view, develop, or become clear. O.E.D.

And shouldn't it be "HeWhoKnows," not "HIMwhoknows?" Okay. Guess work was slow today.

rajvaz, not only is a weak USD good for Manhattan real estate, it's also good for our economy. Europeans have been coming here in record numbers for shopping trips, generating sales tax revenues and keeping retailers in business. This helps prevent the city from having to raise taxes on those who live here.

I think that's a good thing.

uptowngal:

a weak US dollar also makes food,gas,energy VERY expensive. and that's not good for anyone. I believe Americans will be screaming for interest hikes if gas reachs $8 a gallon

Right uptowngal, a weak dollar is good because all those Europeans come here to shop. Unfortunately for them, they find that absolutely nothing is made in the US and everything they want to buy has a cost basis in some stronger currency. They also find out that while the dollar went from parity to 0.66 Euro, hotel prices went from $150 to $450 for the very same rooms. If they bought a place here they're even happier because all this price appreciation did nothing for them.

As for taxes, I would recommend a google search on muni auctions, read it and start counting your future tax dollars. You have no idea what a ginormous mess we're in and how long it'll be before it's done unfolding.

My dear friends in the Bush administration did their best to talk down the dollar in the early 2000s. What a wonderful effort to aid Manhattan RE after 9-11.

Now so you don't the foreigners would want to come to New York if the dollar was strong, all other things being equal?

Gee, maybe I need to go back to Kansas where a dollar is still a dollar!

Huh? "Now so you...equal" isn't a sentence. Kansas? What?

Sorry Mr. NYC, that my grammar was incorrect. You NYC'ers are so nasty. Don't know why the foreigners would want to come here anyway. Bunch of cranks.

In any event, I just was asking: Are you saying that foreigners would not want to buy NYC real estate if the dollar was higher? Is that the dispositive factor? Are they going to go away when Mr. Obama becomes President, the economy booms again, all is right with the world, America is #1, and the dollar rises?

All right New Yorkers, start attacking me! Get ready, get set, go!

(yaaaawn....)

Just one more point, I promise: Those folks out there who want to RE market here to crash or come down a whole lot - - You know, I wanted that where I use to live. Thought if things came down a lot it would be great since I'd be able to better afford a nicer place. And where I am from, down under Manassas, Virginia (well I move around a lot), you could get a lot more for your money than here in NYC.

But you know, given that the NYC market has stayed so strong even with all the other bad housing and economic news coming out since 2005, if it crashes or comes down a lot now it may mean a lot more than more affordable housing. It may mean that the house you want is a lot cheaper but you could be out of your day job. So don't wish too hard!!!

Not to mention that low interest rates are killing people who are sitting on cash. Just like the last Greenspan era (error if you like), those of us with dollars now need to find higher yielding investments which means taking more risks. I'm not a fan of the cheap dollar, mainly b/c we become prisoners to travelling in this hemisphere, but call me shallow. And finally, locals not being able to afford to buy here in nyc, or reverting to IO loans, so that sterling and euro can buy apartments is downright demoralizing. But the FED's not listening to LP1, so might as well eat, drink and buy a condo in Miami, where I can pay cash.