Would-be home buyers spooked by stock market volatility

Well for sure. That said, buyers with cash don’t seem all that concerned, so Greenwich will probably survive. The rest of the country? Ugh.

6 Comments

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6 responses to “Would-be home buyers spooked by stock market volatility

  1. anonymous

    You keep saying Greenwich will survive but I don’t see you running off to Wyoming with a wad of commission cash in your hand. All cash deals or not, spooked is spooked, and people are going to sit this inning out. Greenwich included.

  2. digler

    This is NOT a double dip recession. We are in a depression not a recession and once the stock market figures this out (it is hinting at this) and we really hit the skids then you may see some price discovery in the real estate market. Look for cheaper prices in every asset class!

  3. kidding really??

    It’s ok. The stocks that are down the most and are breaking down to 09 levels are in the financial sector which doesn’t affect the New York/Greenwich area. Houses will sell like hotcakes with those low rates with people feeling confident so they will for sure go for the bigger house!!!

    • Funny thing, Kidding, on Friday I suddenly received some responses to a couple of very large offers I’d extended and, until the Dow dropped 500 points, couldn’t even get counter-offers on. So maybe a few sellers out there might just be getting nervous, as they should.

  4. Anonymous

    yeah it’s not people were paid in company stock or something….. oh wait they were.

  5. Artie

    And where, do you suppose, many people keep their cash? Especially $3-$5 million ? Uninsured savings accounts? Short term CD’s? Um, most likely they have it invested in the stock market, no?