Foreigners Gone - Martians Buying Manhattan Real Estate
Started by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
New York. AP. May 4, 2008. A recent report released by Corcoran, Douglas Elliman, Halstead and Miller Samuel, firms which together control two-thirds of Manhattan real estate listings and most price information, claims that now that the dollar is strengthening, Manhattan real-estate market is no longer being bought by wealthy Europeans, but rather is being propped up by Martians, who sense a deal.... [more]
New York. AP. May 4, 2008. A recent report released by Corcoran, Douglas Elliman, Halstead and Miller Samuel, firms which together control two-thirds of Manhattan real estate listings and most price information, claims that now that the dollar is strengthening, Manhattan real-estate market is no longer being bought by wealthy Europeans, but rather is being propped up by Martians, who sense a deal.
"That's right," claimed Barbara Corcoran. "We would have never expected it. First it was Wall Street, and as soon as they all lost their jobs, wealthy foreigners started pouring into the market in search of granite countertops. (Who wouldn't want a granite countertop?) Then, all of a sudden, with the strengthening of the dollar and the exodus of the Europeans, we saw an overwhelming increase in interest from Martians."
"Indeed," said the ghosts of Ray Walston and Bill Bixby, who starred in that 1960's smash hit, 'My Favorite Martian.'"
"As soon as we saw an opportunity," Bixby's ghost said, "I had Ray raise his antennas and send an APB to Mars."
"Bingo," said Walston. "They were here in a jiff."
"There was some interest from Mr. Ed and Secretariat," claimed Douglas Elliman II, chairman emeritus of Prudential Douglas Elliman, "but we directed them toward condominiums because we sensed an issue getting through co-op boards, who are still irrationally reluctant to approve sales to animals, despite their golden balance sheets."
"Horses pee on the floor," complained Mrs. Corcoran. "Not good for resales."
At that point Secretariat stomped his hoof three times, apparently in disgust.
When asked how she saw the future of Manhattan real estate, Dolly Lunz, Senior Vice President at Prudential Douglas Elliman, was cheerful. "Once we're finished our marketing campaign on Martians, our next target audience is on Uranus, which is otherwise not a nice place to live."
"But not bad to sniff," said Mr. Ed. "Unless it's Wilbur's."
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Response by urbandigs
over 17 years ago
Posts: 3629
Member since: Jan 2006
Ive been arguing AGAINST the foreign strength since last October, stating that CONFIDENCE TRUMPS ANY CURRENCY TRADE. I admit to the presence of foreigners, and their actions to buy Manhattan re, especially higher end, and keep sales volume strong for years on the currency trade, but when credit crisis began and dollar really started to fall, arguments from brokers were that foreign demand was ACCELERATING due to weakening dollar. Just not true.
Now that dollar strengthens, what will the next argument be? Strong Dollar = Strong Economy? BUY BUY BUY!!!
Just like people give sh*t to those that seem to take half-empty side of arguments, at least admit that brokers and firms talked up the market BIG TIME on the weak dollar foreign demand angle!
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Response by dco
over 17 years ago
Posts: 1319
Member since: Mar 2008
steve- That was great.
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
urban - you don't address the article. Have there been any Martians?
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Response by dco
over 17 years ago
Posts: 1319
Member since: Mar 2008
Brokers are worse than car salesman. I have never met a broker who had their clients best interest in heart. Its all about the close at any cost.
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Response by mattthecat
over 17 years ago
Posts: 62
Member since: Feb 2008
Another steve imposter, this is getting absurd. Right?
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Response by eric_cartman
over 17 years ago
Posts: 300
Member since: Jun 2007
I think it's a very valid article. Having been in the Martian tourism business for the last decade, I would like to point out three key points:
1. Martians, being on an average 3 ft shorter than earthlings, find our 9 ft ceilings to be very, very grand, and hence are willing to pay more for the price
2. The Martian currency, Marto, has been strengthening since NASA has started exploring oil in Mars (given we're running out of it here)
3. It is a well known fact that the entire solar system wants to live in Manhattan, and hence all of them are taking their oil-wealth and buying up properties here.
Halstead, Corcoran, and others have opened up retail offices on Mars (right by that big red dot - or was that Jupiter) so all Martians can have a piece of the American dream to own a 700 sq ft condo in Manhattan!!
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
eric_cartman, excellent commentary. I'm surprised that Barbara herself didn't note the 9-foot ceiling height advantage.
The only problem I see with oil from Mars is that the hose would need to be awfully long.
mattthecat, this is me.
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Response by tenemental
over 17 years ago
Posts: 1282
Member since: Sep 2007
stevejhx, My Favorite Martian was before my time, and Bill Bixby will always be The Incredible Hulk to me. Hmmm, perhaps there is a green connection? Wait a minute, Steve! You're Irish! What's going on here?!?
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
What about "The Courtship of Eddy's Father"?
These were major, major shows.
I was around for MFM, but don't remember it except in reruns.
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
FYI Mork says buy, Mindy says hold.
Who's side are you on?
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Response by cliff702
over 17 years ago
Posts: 182
Member since: Apr 2007
I'm not sure about Martian buyers, but many brokers I've dealt showed signs of being from some other planet.
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Yes, cliff, this will be Orson Welles' "Bidding Wars of the World" again.
You though it was scary over the radio!
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Response by NYRENewbie
over 17 years ago
Posts: 591
Member since: Mar 2008
stevejhx, your posts are always "out of this world". Thanks for bringing a smile to my face. Wasn't Whitley Striber a New Yorker, way ahead of the curve in showing his apartment to aliens?
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
NYRENewbie, Manhattan real estate today is all about Orson Welles.
Fat.
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Response by mngmist
over 10 years ago
Posts: 71
Member since: Jun 2010
Any foreign buying weakness because of the Dollar's strength?
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Ive been arguing AGAINST the foreign strength since last October, stating that CONFIDENCE TRUMPS ANY CURRENCY TRADE. I admit to the presence of foreigners, and their actions to buy Manhattan re, especially higher end, and keep sales volume strong for years on the currency trade, but when credit crisis began and dollar really started to fall, arguments from brokers were that foreign demand was ACCELERATING due to weakening dollar. Just not true.
Now that dollar strengthens, what will the next argument be? Strong Dollar = Strong Economy? BUY BUY BUY!!!
Just like people give sh*t to those that seem to take half-empty side of arguments, at least admit that brokers and firms talked up the market BIG TIME on the weak dollar foreign demand angle!
steve- That was great.
urban - you don't address the article. Have there been any Martians?
Brokers are worse than car salesman. I have never met a broker who had their clients best interest in heart. Its all about the close at any cost.
Another steve imposter, this is getting absurd. Right?
I think it's a very valid article. Having been in the Martian tourism business for the last decade, I would like to point out three key points:
1. Martians, being on an average 3 ft shorter than earthlings, find our 9 ft ceilings to be very, very grand, and hence are willing to pay more for the price
2. The Martian currency, Marto, has been strengthening since NASA has started exploring oil in Mars (given we're running out of it here)
3. It is a well known fact that the entire solar system wants to live in Manhattan, and hence all of them are taking their oil-wealth and buying up properties here.
Halstead, Corcoran, and others have opened up retail offices on Mars (right by that big red dot - or was that Jupiter) so all Martians can have a piece of the American dream to own a 700 sq ft condo in Manhattan!!
eric_cartman, excellent commentary. I'm surprised that Barbara herself didn't note the 9-foot ceiling height advantage.
The only problem I see with oil from Mars is that the hose would need to be awfully long.
mattthecat, this is me.
stevejhx, My Favorite Martian was before my time, and Bill Bixby will always be The Incredible Hulk to me. Hmmm, perhaps there is a green connection? Wait a minute, Steve! You're Irish! What's going on here?!?
What about "The Courtship of Eddy's Father"?
These were major, major shows.
I was around for MFM, but don't remember it except in reruns.
FYI Mork says buy, Mindy says hold.
Who's side are you on?
I'm not sure about Martian buyers, but many brokers I've dealt showed signs of being from some other planet.
Yes, cliff, this will be Orson Welles' "Bidding Wars of the World" again.
You though it was scary over the radio!
stevejhx, your posts are always "out of this world". Thanks for bringing a smile to my face. Wasn't Whitley Striber a New Yorker, way ahead of the curve in showing his apartment to aliens?
NYRENewbie, Manhattan real estate today is all about Orson Welles.
Fat.
Any foreign buying weakness because of the Dollar's strength?