Financial Times Article on Long Island City

LICComment- I thought you said that the Hunters Point Condos were almost sold out. This say it's sold half of the 204 units between the 2 buildings. It stated that most were sold when the lines were around the block in 2007.

> "when the buildings opened for sale last September, queues formed overnight and stretched half way around the sales office building. Within hours, the initial offering of 40 properties had sold out, according to the developers."

How many have been sold in the last 3-6 months. They still have over 100 units to go in the worst housing crisis since the great depression. Besides that the future looks great. At the most 60 units were sold since last October. I would venture to guess as the credit crisis worsened so did the sales. Try selling this BS to someone else, I'm not buying it.

The article plays up the proximity to Manhattan, however it neglects to mention that Manhattan is also seeing price declines. I also agree that LIC will be a good buy, just not today or tomorrow. Lets see how long it takes to see the rest of HP condos, PH, Foundry, EC3 and La haus to mention a few.

I thought you were against posting articles, I guess as long as they support you thesis then it's ok. Now I see.

When did I ever say the Hunters Point Condos were almost sold out? Another wrong statement by dco. I said they have sold well even through this slowdown. Selling over 100 units in 9 months with nothing but price increases sounds good to me. The goal is to maximize sales dco, not sell everything as fast as possible. You need to understand how business works before you jump to conclusions.

I just posted an article from one of the most internationally distributed and highly regarded financial publications on the strong demand in LIC, even from overseas buyers. I hadn't seen this aspect of the discussion before on this board. I tried to add something new and not rehash the same thing over and over and over again like someone I know . . .

LICComment- It's funny how it's new when you post something, however when others do you say its BS and has no substance.

Lets see how long it takes to sell the remaining units. Selling in 2006-2007 was like shooting fish in a barrel. Now that people actually have to be able to afford, what they are buying it a whole new ball game.