Bwhahhahahhahhaha Painted any floors recently?

Cheers

JAXAshby wrote:

you are kinda, or mostly, or completely dumb, nav. why should anyone attempt
discussion with anyone like you? it is, I suppose, like petting a pig.


Nav
Date: 10/5/2004 10:47 PM Eastern Daylight Time
Message-id:



JAXAshby wrote:


At no time did anyone I know lose money on a NY apartment. They all doubled
their money or much better.


My memory goes back to 1989


You can't remember your childhood? This called a memory block and
usually is a protective mechanism against unpleasent thoughts. Just
thought I should tell you.

Cheers

My memory goes back to 1989, and I knew a whole bunch of people who lost money
on NY apartments.

How?? There were two dips in the market. They lasted no more than 3 years and
ended by the mid 90's. Real estate fluctuates, but it's never down in NY. Not
once, not even in 1987 where it dropped briefly before climbing like crazy
again in the early 90 to mid 90s. Only a flipper could lose money in NY and
you'd have to be pretty dumb. My father bought his apartment is 1988. In 1993
it was worth about the same. In 2001 it trippled it's value. And that's in
Queens!

RB

Yea I envy you walking out your front door into the smells
of NY city. Sweat, exhaust and urine. That's NY.

I don't live in Manhattan, dopey. I'm next to Forest Park and 15 minutes from
my boat. Now, did your real estate more than double in value in 5 1/2 years?

RB

JAXAshby wrote:

So what's this stuff about "buying" an apartment, I thought an apartment was
something one rented.


the term means to buy a condo, or infrequently a co-op shares.

Thanks to all, even Jax, but especially Dave for all the info, I must remember when talking to New Yorkers
in the future that when the say "apartment", they may mean "condo".

Cheers
Marty

OzOne wrote:



Dave, real estate never goes down! Well not in the long term.


"Buy land, they ain't makin no more.", Will Rogers.

Cheers
Marty

huh?

Nav
Date: 10/6/2004 12:34 AM Eastern Daylight Time
Message-id:

Bwhahhahahhahhaha Painted any floors recently?

Cheers

JAXAshby wrote:

you are kinda, or mostly, or completely dumb, nav. why should anyone
attempt
discussion with anyone like you? it is, I suppose, like petting a pig.


Nav
Date: 10/5/2004 10:47 PM Eastern Daylight Time
Message-id:



JAXAshby wrote:


At no time did anyone I know lose money on a NY apartment. They all
doubled
their money or much better.


My memory goes back to 1989


You can't remember your childhood? This called a memory block and
usually is a protective mechanism against unpleasent thoughts. Just
thought I should tell you.

Cheers

yo-yo, people who bought apartments in NYC in 1989 had to wait until about 1997
for their apartments to again be worth what they owed the bank on it.

yo-yo, I live here and as you might expect know one or two people, and worked
with maybe one or two more.

also, yo-you, should you bother to check around with an adult or two you will
find that a.) booms always end [they have to], and the b.) end is shortly after
everyone says there is no end.

From: "OzOne
Date: 10/6/2004 2:12 AM Eastern Daylight Time
Message-id:

On 06 Oct 2004 01:45:30 GMT, (JAXAshby) scribbled
thusly:

At no time did anyone I know lose money on a NY apartment. They all doubled
their money or much better.

My memory goes back to 1989, and I knew a whole bunch of people who lost
money
on NY apartments.

that's because they sold em Jocks!
Imagine if they still had those 1989 properties now.


Oz1...of the 3 twins.

I welcome you to crackerbox palace,We've been expecting you.

bob, you remember your father's position. the real estate professionals
remember the position of the industry in total. 1989 prices dropped in some
cases in 1990 to 50% of 1989 prices. I saw a studio in the West Village go
begging at $25,000 (yup, the price of a low end SUV today). I passed because I
didn't want to live in the West Village, not my lifestyle much of them.

apartment prices did not recover their 1989 prices until about 1997.



My memory goes back to 1989, and I knew a whole bunch of people who lost
money
on NY apartments.

How?? There were two dips in the market. They lasted no more than 3 years and
ended by the mid 90's. Real estate fluctuates, but it's never down in NY. Not
once, not even in 1987 where it dropped briefly before climbing like crazy
again in the early 90 to mid 90s. Only a flipper could lose money in NY and
you'd have to be pretty dumb. My father bought his apartment is 1988. In 1993
it was worth about the same. In 2001 it trippled it's value. And that's in
Queens!

RB

nearly the very same thing was said about silver as it reached $15 an ounce
back in early (mid?) 70's. Silver, I think, has climbed to about $5 now. how
long does one have to wait?

Dave, real estate never goes down! Well not in the long term.
Even if you buy at the top of a market and the bottom falls out of the
economy, eventually, if you can afford to hang on, it will all come
back and begin another surge.


Oz1...of the 3 twins.

I welcome you to crackerbox palace,We've been expecting you.

yo-yo, people who bought apartments in NYC in 1989 had to wait until about 1997
for their apartments to again be worth what they owed the bank on it.


I'm sorry Jax, but the market was basically restored by 1993-94. Your friends
must have made some incredibly bad investments. There was essentially a 3-4
year lull and most areas didn't drop, but they didn't rise either. There are
books out on this, showing when the market began to spike again, regaining full
steam in the mid 90's. Meanwhile, anyone with brains waited out the short spell
and made a KILLING. I don't know a single person who lost out. Then again, the
people I know understood that a 10 year investment on real estate is common. In
NY you can now flip in as little as 3 years on a FMV property and see 175% to
300% above the initial investment . There are very few places on the planet
that can claim the same.

RB