Real estate fluctuates, but it's never down in NY. Not once, not even in
1987 where it dropped briefly

Does this guy read what he types before he hits the send button?

Loco, a valid drop in real estate lasts more than a few years before an
investor even THINKS about making an adjustment. It's never happened in NY. Not
once. The people who bailed were foolish.
Get it now?

RB

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.

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

1993 recovery for those who bought in 1987, 1994 for 1988, 1997 for 1989. Few
or no sales in 1990 or 1991.

From: (Bobsprit)
Date: 10/6/2004 8:19 AM Eastern Daylight Time
Message-id:

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

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.

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?

Silver went a whole lot higher than that, Jax. I should know...my father sold
off the largest collection of MC silver Morgans in history during that spike!
Paid for his 1st property in PA and then some.

RB

I haven't checked recently, but I seem to recall $15 was absolute top.

is it back to $5?

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?

Silver went a whole lot higher than that, Jax. I should know...my father sold
off the largest collection of MC silver Morgans in history during that spike!
Paid for his 1st property in PA and then some.

RB

Eh Jocks, like I said, they lost because they sold em.
Thanks for confirming that.


Exactly. Everyone knew it would go nova again. At least everyone I knew or
spoke to. Unless you were forced to sell, you had to see the obvious.

RB

The valuation on the property a couple of months back was $1.8million.
Of course I've improved it since purchase, possibly spent $150k


Good for you, Ozzy!

RB

Silver isn't real estate.


Oh.


RB