did you miss that part about "few or no sales"? there were few or no buyers,
yo-yo. hence, the reason for the 50% prices.

geesh. booms always end. they have to.

From: "OzOne
Date: 10/6/2004 8:30 AM Eastern Daylight Time
Message-id:


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


On 06 Oct 2004 12:11:52 GMT, (JAXAshby) scribbled
thusly:

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.

huh? abe beam did more to depress nyc housing prices than did ed koch. between
1980 and 1986, nyc lost 600,000 blue collar jobs (they have never returned),
and between 1987 and 1996 an additional 700,000 white collar jobs (not all of
which have been recovered)

housing prices are jumping up right now because a.) the stock market with its
easy profit of the late 1990's is gone (meaning, "investors" chase other get
rich quick schemes), b.) interest rates are the lowest in 40 some year, and c.)
there is no tax on the first half mil of profits on the sale of a house.

b.) and c.) you can thank Al "Kingmaker" Greenspan for in his effort to Geo the
2nd reelected, to make up for his failure with Geo the 1st.

booms always end. they have to.


bob, the end (of every boom) is just after everyone says there is no end (of
some particular boom).


What boom? NY Real estate has been steadily climbing for 50 years. Short
lulls
don't mean a thing.

RB

that is the point.
even if your property values go up. you cannot realize the gain unless
moving to south america
as all the properties around you have increased by roughly the same
percentage.
what it will buy, is leverage with banks to buy more stuff which is
valuable.


OzOne wrote in message ...
On 06 Oct 2004 12:42:07 GMT, (Bobsprit) scribbled

In effect Bubbles, it means nothing.
I'd have to get out of Sydny to realise the capital gain.




Oz1...of the 3 twins.

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

i remember the same (about 1993)
being a broke married grad student i passed on an apartment in the west
village for $15000


"JAXAshby" wrote in message
...
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

I could never figure that out myself.

Just add it to the lengthy list of things you can't figure out by
yourself..


Let's face it. He can't figure out anything WITH help.

RB

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?
S/V Express 30 "Ringmaster"
"Trains are a winter sport"

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!

I think you've just proved Jax's point. For every seller there is a buyer.


What point? My father knew the spike was false and short. The real estate
market has STREADILY climbed.

RB

Flawed analysis, I'm afraid. That's like the guy who continues to hold a
stock because he thinks he hasn't lost money until he sells, rather than
cutting his losses and putting the money into something that will
appreciate.

Wrong, the revenue that NY apartments generated was a certainty. Pulling out
was a mistake for those who did. Those apartments paid HUGELY, yet you suggest
that gambling elsewhere was viable. How so? The property went up. It's history
now.

RB

Clearly your circle of acquaintances is somewhat circumscribed. My wife has
been a broker in the City for over 20 years. I know whereof I speak.

Many of my friends bought apartments in NY. All made money. ALL. I'd like to
agree with you and say I know someone who lost out on NY apartments, but I
don't.

RB

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