broker babble

Amen. Brokers are the lowest of the low. They need to be regulated. They need to follow a stricter code of ethics. Brokers are responsible for all things bad in the real estate industry.

This board is also full of babble from people like you who state that it is a fact that the market will tank. 20 years to recoup your downpayment? Are you high? I just bought, am not a broker, and am sick of seeing posts from dooomsday people like you and over optimistic brokers. You all should set up angryrealestategurus.com.

"Brokers are responsible for all things bad in the real estate industry." Come on. Just as noboby wants to hear people claim the market will keep rising forever, we also don't listen to people who make statements like that. I agree brokers are often unethical and usually out for the commission, but saying that they are responsible for all bads things in the market is possibly the most unsupportable statement on this entire site - and there are a lot of them.

Brokers are responsible for the overpriced RE market (along with the media) - NAR and brokers are basically the only sources ever quoted in the mainstream press and they always have the same line - the news is ALWAYS good! Brokers feeding the media is what drove this market to these unsustainable heights - this party can't last forever and people who bought into the broker/media hype are going to get burned very badly.

Ahhh, so now it is the brokers AND the media - slight correction on your part to go from blaming only several thousand brokers to the media at large. I am no professor, but your theory is still flawed. Last I checked, the brokers and the media do not control my salary (and the salary of millions others in NY), which enabled me to buy in th first palce. Brokers certainly influence the market, but you are giving them way too much credit to say they unilaterally move a multi-billion dollar market.

perfect examples of broker babble we see on this board all the time:

http://usmarket.seekingalpha.com/article/25511

I think problem for investors like poster 1 is that they are small fry and do not have the bucks to invest in Manhattan . Go and buy corn farms in midwest-that is the next wave.

of course there is borker babble on this board, but there is just as much commentary that says the market is absolutely, positively, 10000% going to tank and that anybody who buys now is clearly a moron and should be shot. Both of those opinions are far too extreme.

Post #1 - This board is ALSO too full of bitter angry renter babble, and bitter angry babble by people who feel they've been priced out and will never have a chance to own a nice Manhattan home, even if the market DOES come down 25% this year (which it won't - but if you'd like to put your money where your mouth is, I'll put up $10,000 against you with streeteasy.com holding our bet in an interest bearing escrow account until midnight on 31 December).

I think that it DOES pay for SOME people to purchase now, and it definitely does NOT pay for MANY others to purchase now. But there are some situations presently that are worth committing to. The Manhattan real estate market is just not as black and white as a bitter angry ranting person like you would like to see it at the moment.

NO MORE BITTER ANGRY RENTER RANTING BABBLE PLEASE

post #10: broker babble alert!! broker babble alert!!

POST #11: BITTER ANGRY RENTER RANTING BABBLE ALERT!! BITTER ANGRY RENTER RANTING BABBLE ALERT!!

Don't you wish, poster #11 - sadly for you, not only do I have absolutely NOTHING to do with the real estate industry, but I don't even happen to have friends who are involved as realtors or brokers. In fact, my last place that I sold (in 2006 - a loft in the Village) I sold FSBO, and sold to a buyer who did the deal direct with me - no brokers involved at all!!

Just because you're so bitter and unhappy with your own life and where you live, doesn't mean you should hurl around unfounded accustions at others - poor, poor, baby - peace be with you.....

#1 and #11, so lame, bitter renters who haven't made any money the past 10 years watching while others have made lots. i'm not a broker and i fully understand why it makese sense for some, maybe most to rent right now or at any time, but you bitter people who are so interested in the welfare of the many happy homeowners out there, ranting and raving, so tiresome. And to blame everything on brokers, so weak.

I can just see #1, every year for how long, he updates those excel spread sheets...well you see if i rent right now I'll pay 2500 a month, if i buy it'll cost 3200 a month. Nevermind the variables in those calculations, nevermind that the place I'm renting kind of sucks, eventually the market will crash and I'll swoop in and buy on the cheap. This conversation goes on every year for how long, he's too scared to ever do anything and eventually he's lived in not as good housing and lost a bunch of money, perhaps his whole life...classic paralysis by analysis.

Poster #14, this is poster #10/#12 here -

Better yet, poster #1/#11 is probably working with his excel spreadsheet and saying "...So, okay, if the Manhattan market ONLY dips by 40% (and that's a SURE THING by the end of this year, at the very least), what will I be able to buy? If it goes down (more likely) by 55%, THEN what will I be able to buy? And in a worse-case-scenario, what happens of the market goes down 85% - THEN what will I be able to buy?..."

BWAAAHAHAHAHAHAHAHAHA!

You people are a bunch of jerks, no one cares that you think this website is full of broker babble because, quite honestly, no one care about your opinions. Your opinions don't matter at all, you are all worthless scum. No one cares about you. Everyone wants you to fail in life, like you already are, no one cares. Just stop talking, no one likes you. You are alone on this earth. To quote Britney Spears, "No one cares, y'all!"

All I see here are a bunch of VERY ANXIOUS people who bought high and are afraid they're going to lose their pants when the market corrects (or at the very least lose a ton of money they could have made in other investments instead of their overpriced boxes)...those of us who are renters and rationally believe the market is overpriced aren't jealous of you - who wants to lose their entire down payment?? We just think others should really THINK about buying before they do and do the calculations. For some reason once the word "rational" or "run the numbers" or "THINK" comes up all of a sudden we are haters? The thinking people are those who aren't buying in this market. I hope everyone does well, but lets face it, either the renters or owners will come out of this better off in a few years and odds are 99% in favor of the renters.

What's the problem? Just like NYC, this site is clearly full of all types...brokers, owners, renters, anxious, content, whatever.

The only problem with these discussions are the extremists who feel like they need to exclaim "broker babble" or "anyone who buys must be stupid" or "anyone who rents will regret it."

They seem to think there is a "right" answer. There's not. Everyone has their own criteria.

Personally, I like this site because it's full of differing perspectives, and I would hate for any of those to be pushed away by those who think they "know the answer".

I'm rich so I spend my money without thinking about it. Envy me.

I am absolutely confused about something. If someone feels that we are in the midst of a bubble that is about to burst, why do they care that people who do not beleive that are buying. Is it really out of concern that we would lose our down payment or worse? Why are you so concerned about someone else's economic well being? Why do you care, really? Also if you are so certain that there will be a correction, why not profit from it. Aside from the silly and illegal wager proposed a few posts above, you could easily invest on Wall Street; for example you could short certain publically traded REITs - there are scores of other ways that you could profit through the equity markets alone. I just don't get it. Really, could someone please explain this. Otherwise it just seems like the naysayers are spouting their positions, beacuse they want them to be true and have hopes that they will help spark a panic. Oh, and, BTW, I am not a broker or in any way in the Real Estate business.

#17, what makes you so confident in your thinking? Did you feel this way in 03? 04? 05? 06?

We've been hearing this "the end is near" stuff for how long? During that time some people have made a killing in RE, others like myself, a nice pot of money which in my case I'm using to buy a much nicer apt. So to this point in my life I'm very glad I haven't listened to naysayers and doom predictors like yourself. Will I get hurt on this new place, could be, or maybe I'll make another nice pot of money and roll up again. I feel protected on the downside because this new place is someplace I can see my family in for quite a long time, long enough to ride out any down market. I just don't understand conclusive statements like, odds are 99%...there's just no basis for it.

#20 really good post, was wondering the same thing myself, wonder if these people are putting their money where their mouths are, and of course if the crash is so obvious and so apparent, there's a lot of stupid money out there propping up not only apt values but the REITs and other RE based investments not to mention the idiot developers who continue to pour billions of $ into the market.

The only way NYC goes down 40% is if Akmehd Al-Boomi (or someone like him) drops a dirty bomb in Times Square.

lol, while all you nervous newyorkers bicker and babble and squawk, the world outside the United States continues to get along fine. My wife and I just purchased a 4 bedroom in Dubai after vacationing there.

I bought in Dubai too!!!

Stop deleting my mean comments, no one cares if you delete them!

#23, but it's only a matter of time...isn't that what the gov keeps telling us.

#1 -- good for you, buy when your predicted correction occurs. Problem is it will never happen because there will always be people like me, who have more money than you can ever dream of, that continue to buy in whatever state the market is. On the off chance, that your predicted correction happens, we'll still be there buying properties in cash while you wait for your mortgage to be approved.

Totally agree with 20, why the hell would they care about someone else's economic being. The only reason they're doing this is because constant buying in the market keeps them priced out of Manhattan --

why isn't there any real data posted on this site? i am sure there are some folks with access to RE pricing on here. prices are reported to the state. if i had half a brain i would do it myself but doesn't some snappy person out there know how to scrap some websites for the data?

#28 - if you have more money than #1 could ever dream of then why would you care if the market tanks and why would you be looking at things in the same price range? The whole city isn't made of unlimited money....sounds like BROKER BABBLE to me!!

#29 - amen. That is exactly the type of broker babble #1 was talking about!

31/32 no broker babble here and I don't care if the market tanks. I already take enough risks doing what I do that's what I get paid for. I don't need to treat buying a place to live as one of them -- but that's just me. It may not make sense for some people to buy in this market, true. Unfortunately, I can afford and can care less, so I bought. End of story.

#33 - I agree. Posters #31/32 sound like BITTER ANGRY RENTER RANTING BABBLE to me!!

I doubt those ranters can afford to rent in Manhattan

Just remember - ITS A GREAT TIEM TO BUY OR SELL A HOME!!!!!!! ALWAYS!! REALLY!!! I PROMISE!!!!!!!!!

what is the deal with most insurances should a property on manhattan become unlivable due to dirty bomb etc?

it's sad but it's something i've considered in the rent V's buy scenario.

Dean

I don't get this anti-broker stuff. Do you people pull your own teeth, cut your own hair, fix your own cars? Didn't think so. NO, I'm not a broker, but I'm also not an authority on real estate, either. I don't have an anti- broker bias but perhaps what I say about lawyers applies here, too. "If you need one, better hope you've got a good one."

There are too many bad brokers in NYC. Buyer beware.

"If you need a broker, better hope you've got a good one."