More doom and gloom

that along with the chrysler building bought by our middle eastern landlords

what's the big deal? capitalism at its best. the prize goes to whoever can bid the most.

if obama's upset with it, i'm ok with it.

Budweiser is nasty beer in any case. Maybe the Belgians can teach them a thing or two about brewing. When I lived in Europe I got used to good beer, went to the Expo in Seville and tasted a Bud for the first time in years at the American pavilion. I spit it out.

This is GREAT news for our next potential first lady:

Cindy McCain May Reap Benefits of Anheuser-Busch Bid

http://news.yahoo.com/s/bloomberg/20080613/pl_bloomberg/ajik4wi9a0m8

What I don't understand is why would anyone pay the same amount for the same apartment when the Dow is at 14,000 versus when the Dow is at 11,000? On top of that and we're at the verge of another financial institution (Freddie and Fannie essentially in the same boat) collapsing, mortgages even harder to get today than 6 months ago, oil at another high (don't even get me started on how high heating bills will be this winter!), the Fed completely out of bullets to turn things around and an even clearer picture now that Wall St bonuses are going to be in the sh!tter at the end of the year.

Why would any rational buyer agree to pay the same amount for an apartment that was priced 3-9 months ago given the economic climate today? I've heard all the usual arguments: NYC is an island, weak dollar, people have to live somewhere, yada yada yada.

I'm not saying I wouldn't want to live in NYC. I'm just saying that the price I'd be willing to pay is lower today than it was 6 months ago. It's looking like it'll even be lower in the next 3-6 months.

> What I don't understand is why would anyone pay the same amount for the same apartment
> when the Dow is at 14,000 versus when the Dow is at 11,000

Easy... they won't.
(And they aren't.)

Thats what all those "sales are down 40%" numbers are about... and that doesn't even include July...