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Talking stocks, trading, and investing in general - Page 599

post #8971 of 11197
Quote:
Originally Posted by GreenFrog View Post

Yeah I hope the housing market crashes so I can buy on the cheap.

Of course I'll sell all my stocks before the crash happens.

Let me know if you want to go in on a few NYC apartments ;).

post #8972 of 11197
Quote:
Originally Posted by MSchapiro View Post


I don't know that many people outside of finance, medicine or law earning that. Even those I know in those fields have a lot of debt. So who the hell is still buying? 

Russians and the Chinese
post #8973 of 11197
^^ Indians are the next wave

Btw Oosten is sweet. Went to a TSLA/Oosten launch party in September. That PH is droolworthy.

As long as I can stay in my apt in Soho for <$2k / mo, I can't make sense of buying.
post #8974 of 11197
Quote:
Originally Posted by MSchapiro View Post

Let me know if you want to go in on a few NYC apartments wink.gif.

Sure thing. I just closed on the top floor penthouse on 432 Park Ave.

--

Getting so nervous about AAPL earnings that I'm feeling the onset of a case of the squirts.

Maybe getting two McPick 2s for lunch wasn't the best idea.
post #8975 of 11197
Quote:
Originally Posted by MSchapiro View Post

As someone who wants to buy, wtf is going on. 

Honestly the prices in NYC and NJ are insane. Sellers are delusional. You can easily have $2k a month carrying costs not counting the mortgage. Prices are sky rocketing and the flattening yield curve seems to be chipping away at the stagnation of prices. 

In a year I've seen Williamsburg go from $750 a sqft to $1300 a sqft. 

Frankly based on any reasonable calculation you'd need $250k a year as a household to reasonably afford a 2 bedroom in NYC not in a Co-Op. Move out to the suburbs you'd still need $150k and your carrying costs are higher. This isn't even counting the down payment or high closing costs or 3% NYC tax. Oosten, which is perhaps one of the worst value units I've seen, has only 78 of its 200+ units yet, so clearly someone is throwing down the cash.

I don't know that many people outside of finance, medicine or law earning that. Even those I know in those fields have a lot of debt. So who the hell is still buying? 

NJ is crazy, we have seen people sell in our neighborhood in 1-5 days...with people paying above asking price.
post #8976 of 11197

What are NYC property taxes like?  We are considered high here in Nashville at about 1% property value.

post #8977 of 11197
Quote:
Originally Posted by OmniscientCause View Post


Russians and the Chinese

The prices have been going up and up for them with the dollar strengthening. Combined with the slowdowns in both economy and increased scrutiny on real estate transactions I think that spigot is closing. 

Quote:
Originally Posted by chrisjr View Post

^^ Indians are the next wave

Btw Oosten is sweet. Went to a TSLA/Oosten launch party in September. That PH is droolworthy.

As long as I can stay in my apt in Soho for <$2k / mo, I can't make sense of buying.

Oh I had a great time visiting. Excellent coffee. No reason something that south in Williamsburg should be that insanely expensive because at that price I'd rather just live in Manhattan (unless you go for one of the super big townhouses which are unavailable in Manhattan). That isn't to mention that the taxes and fees are pretty high too. 

 

Given a Chinese developer who still has 36% units unsold, a higher cost in yuan to finance the remainder of the project and the fact that most people have simply committed and not paid in full, I wouldn't be too surprised to see it implode or get government assistance. 

 

What kind of place do you have in Soho? That seems like a sweet deal. 

Quote:
Originally Posted by SkinnyGoomba View Post


NJ is crazy, we have seen people sell in our neighborhood in 1-5 days...with people paying above asking price.

What town do you live in? I saw a nice place in Morristown, a bit expensive, but the $2k carrying cost kills it for me. 

Quote:
Originally Posted by jbarwick View Post
 

What are NYC property taxes like?  We are considered high here in Nashville at about 1% property value.

A 2 bedroom is probably $500-$1,000 a month without a tax abatement. Generally the value on that property is in the $1.2-$1.4M range. Can depend on a lot of things though.

 

In NJ and greater Long Island it is generally 5-10% of the assessed value I believe. 

post #8978 of 11197
lol apple
post #8979 of 11197
Re housing, an ad in Dubai :

Pay for 1 bedroom use it as a 2bed! Fully Furnished Apartments. Studios starting from AED 430,000 Pay 1% per month Call 0528623107 OPTOUT 3001
post #8980 of 11197
Quote:
Originally Posted by MSchapiro View Post

What kind of place do you have in Soho? That seems like a sweet deal. 

3bd/3ba for low $5s/mo with mid level condo finishes (e.g. hardwood floors, marble bathrooms, granite, GE-level appliances). It's quite good with a few annoying downsides - noise being the biggest but hell, that's NY. Saw 70 Pine is starting to let their first tenants move in. Studios for $3.4-4K and 1br for $5k? nothx.
post #8981 of 11197
Quote:
Originally Posted by chrisjr View Post


3bd/3ba for low $5s/mo with mid level condo finishes (e.g. hardwood floors, marble bathrooms, granite, GE-level appliances). It's quite good with a few annoying downsides - noise being the biggest but hell, that's NY. Saw 70 Pine is starting to let their first tenants move in. Studios for $3.4-4K and 1br for $5k? nothx.

That's a pretty good deal. I used to work around there.

 

I generally consider $1,500 to be the minimum for a bedroom and bathroom in any of desireable areas, i.e. 2 bedroom for 3k at a minimum. 

post #8982 of 11197
Shanghai down another 3% so far, but the SP doesnt seem to care its all good
post #8983 of 11197
I have no idea what's going on. I'm thinking of cryogenically freezing myself as a good option. I could roll with the Vanilla Sky lifestyle.
post #8984 of 11197
Quote:
Originally Posted by skeen7908 View Post

Shanghai down another 3% so far, but the SP doesnt seem to care its all good

 

Shanghai usually follows the S&P from the previous day unless China releases data while US markets are closed but then futures are down.

post #8985 of 11197
Quote:
Originally Posted by ramuman View Post

I have no idea what's going on. I'm thinking of cryogenically freezing myself as a good option. I could roll with the Vanilla Sky lifestyle.

what if the cryo corp you use goes bust while you frozen eek.gif
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