The two real estate markets sound similar, anyway. Too bad. Here are some familiar looking statistics.
Daily Archives: November 9, 2008
Get your own copy of the Plum Book, lift an Obama sticker from your kid’s car and head down to D.C. There’s jobs awaitin’! Just don’t let Dick Fuld beat you down there.
The local realtors play games with “last listed price” vs. “original price”. Here’s a realtor blogger who gets it.
Co-op prices in the City are dropping. Greenwich has always benefitted from New Yorkers who sell their property there and relocate to “the country”. I’m confident that that phenomenon will continue so long as bright, successful people are drawn to New York, meet, fall in love and have babies that crowd them out of their apartments, but the young lovebirds will apparently have less money to fuel their dreams. If you’re the one trying to sell that dream, you won’t be as happy as you might have been in 2004.
Taking a malicious delight in the suffering of Dickie Fuld? Relax, it’s not a moral failing, you’re wired that way!
Didn’t enjoy the results of the Wall Street wiz kids trying their hand at trading synthetic collateralized debt obligations? Wait until carbon swaps get going!
My post-election hope is that The Messiah and his followers will get everything they want in the first months of his administration: carbon taxes, welfare for all, elimination of free trade, resurgent labor unions, enactment of all those treaties, like Law of the Sea and Kyoto that Clinton and Bush rejected, universal health care, mandatory labor for children, etc. etc. None of this has worked in the socialist paradises that my liberal friends so admire but heck, we’re a strong country and maybe even strong enough to try all this stuff and survive. if so, we’ll have shut up the left for at least a decade.
My fear, however, is that we’ll not see such a radical approach and instead will witness just a few more incremental steps toward collectivist goals: the economy will be weakened, our civil liberties will be further eroded, but nothing that is so obvious that the electorate will realize what has happened. This will just prolong the agony and continue our slow deterioration.
Obama is already making noises about holding off taxing the rich – apparently he realizes that high taxes do injure the economy, so he wants to wait until things are better and he can fleece the object of the nation’s greed and envy at a more propitious time. And our main stream press has gone to work, doing their job “to support President Obama” as Chris Matthews so infamously proclaimed a few days ago. These are tough challenges and no one, not even The One, can be expected to solve them overnight. Why, it will take four years just to recover from Bush/Cheney, and only then can our savior turn his attention to moving us forward. So we’ll muddle along until 2012 and then we can begin.
I can hardly wait.
This article about sales conditions in Maryland is mostly downbeat but it contains some nuggets Greenwich buyers might find useful. Just like here, Maryland buyers are finding houses that are asking much less than a year ago and as one agent points, out, there’s no pressure to make a snap decision, no fear of a bidding war breaking out.
“It’s more fun now,” says Mark Simone, a real estate agent with Yerman, Witman, Gaines & Conklin Realty, LLC. “You can show more than one house. You don’t have to rush so much.”
Three Indonesian militants executed on Sunday for the 2002 Bali bombings were buried by their families at ceremonies attended by thousands of sobbing supporters shouting “Allahu akbar” (God is great).
I blame Bush.
According to this survey, homeowners are going green. I don’t believe it. If you break down the numbers, although 82% of those surveyed claim they are familiar with ecological matters, only 51% have done anything so simple as adjusting their thermostats. 69% have switched out an incandescent lightbulb for a fluorescent one (thereby creating a new mercury problem) and a whopping 1/3 say they’d pay “up to $5,000” for an energy efficient home. That’s not going to do much.
The survey is part of a push by the National Realtor Association to create yet another “specialty” – in this case, “Green Certified” to what is really an unlettered class of individuals (there was a news report yesterday that I meant to link to concerning a realtor in Miami who was driving a cab while waiting for times to get better – that’s the type I’m referring to). All the letters after a real estate agent’s name that supposedly attest to his mastery of any number of arcane subjects are no substitute for local knowledge, common sense and a thorough knowledge of the inventory.
But I digress. The fact is, “green” houses command no premium and, while I would prefer to live in a house free from drafts that didn’t cost me the monthly payment on my SUV to heat, I wouldn’t spend much money to build those features if I were in the spec business. This may change if Obama makes good on his promise to make energy costs “skyrocket”, but it’s a long way from an orator’s dais to the floor of the Senate. We’ll see.