Saturday, December 27, 2008

Units just ain't selling

While many brokers and developers are hyping to the public that there are sales taking place, the truth, according to industry leaders, is that little or no sales activity has taken place since the fall of Lehman Brothers in September. The combination of layoffs, reduction in bonuses, the frantic stock market and the fallout of Bernie Madoff's empire is creating havoc in the fragile market.

And units that are closing, some experts say, are generally those in buildings that have made some headway in terms of construction.

Trade sources say that at least 10 percent of scheduled closings are not taking place due to purchasers' inability to secure mortgage financing. In the rare case where closings are taking place, developers are "overjoyed that closings have finally occurred," the managing director said.


Letter to Santa Claus: "Please help me sell my condo units"

38 comments:

-Joe said...

All them landlords are gonna cry "hardship" then Obama will more then happy to send them tennants with both Patterson & Coumo 2 blessing.
The last "Come and get it" happened with Lindsay in the 60's. It turned Manhatten, the Bronx and Brooklyn into a slum in just 3-4 years.
This situation is bad REAL bad.
At this point If Andrew Coumo gets the Senate seat NYC Queens will be another S Central Los Angelos in a couple years


Remember how this country's liberals and banks F_'d everybody in the first place !
I blamed Bush but did some research and found the fuse was lit LONG before him.

This crap all started with the comunity reinvestment act back in 1977 By a liberal sac of sh*t grom Georgia who wanted to make sure that every good for nothing and tweed and that came to the United States (Via the Kennedy Immigration Act of 1965) had a home paid for by the taxpaying working stiff.

Reagen when elected said hell NO MORE it will bankrupt America (and it already was) Reagen put the brakes on it, put the brakes on the banks.

Well in 1992 - 93 Clinton put the "Chicken in Every Pot" program back into full swing just as the country came out of recession.
People told Clinton it would bankrupt America, warning with no brakes the bankers would go wild.
.....And it all has done exactly that.

Clinton’s "Chicken in every pot" plan mandated Banks gave just about about every person working in McDonalds a house a house they cant afford.

No more real credit checking required by the banks.
Clinton then he signs NAFTA to take away millions of factory jobs and opens the borders to allow $2 an hour take those jobs left.
Drunk dummy from Texas follows, put on knee pads for Vincente Fox.

Deep Deep Doodoo

Maspethian said...

Fannie Mae and Freddie Mac became agents of poor lending practices. The Dems loved the results and were their most vigorous defenders. The Reps were weak-kneed in their opposition.

The whole backbone of the financial crisis was the money freed to homeowners bc of the real estate bubble.

It was simple. Couple X couldnt afford to buy a home by traditional standards but could due to the relaxed lending standards.

They bought. A couple of yrs later, the value of their homes appreciated. A few yrs later they refi'd and got more $$$ - by the increase in their equity bc of the RE market rise.

BUT the market was overinflated. The bubble pops. And now we are bailing out those who shouldnt have bought in the first place. Now banks and the gubmint are doing everything they can to keep people with no equity in their homes - in their homes.

Think about one section of the market - those who made the smart decision not to over extend themselves and not to buy. Their tax dollars, bank fees etc, will go to subsidize those who bought when they couldnt afford, the government who encouraged their pisspoor loans and the banks that made them possible.

The recipe for the destruction of an economic society is to reward failure and punish success.

georgetheatheist said...

www.atlasshrugged.com

-Joe said...

Yep about 10 Years ago right ?
Clinton and Congress rammed it through at gun point to allow mortgages for low income high risk borrowers.

The Banks and Wall street figured they would all get rich in the end (comissions and interest)....nope just the top few now living off shore with billion $$ bank s in Israel, Costa Rica and the Bahamas.
Have no fear they will come back like Buzzards with Euros to scarf up the rotted bodys ten cents on the dollar.
Obama-nation...got that right.

I wouldnt try to guess how much $$ went off shore.
I have no debt but it really sucks when you cant make $$ of interest rates.

Queens Crapper said...

Yes just about 10 years ago I was working someplace that had a cafeteria with TVs and at lunchtime Jerry Springer was on and every other commercial was about how you could buy a house with no money down and easy monthly payments and I said to myself look who they're marketing this to and this has gotta be a scam.

Turns out I was right.

Anonymous said...

www.atlasshrugged.com


Good ol George is promoting the Wall St doctrine again of the "rock solid"free market with deregulation.The lack of any undersatnding of history on here with private companies being funded by the right for 60 years is astounding.Simpltons like Limbaugh play the blame game and pretend like Reagan had nothing to do with NAFTA, WTO and the IMF.

Do your homework kids.The right wing think tank the Heritage foundation directly points this out for there goals.Yes Clinton backed NAFTA but Reagan was the intial man to push jobs to Mexico and Southeast Asia.
Words from the Heritage Foundation:
November 23, 1993
The North American Free Trade Agreement: Ronald Reagan's Vision Realized
by Michael G. Wilson
The approval by the Congress of the North American Free Trade Agreement (NAFTA) is a victory of engagement and competition over withdrawal and complacency. The trade pact, which will eliminate tariffs on goods and services between the United States, Canada, and Mexico over a fifteen-year time span, will create the world's largest market: some 360 million people, with an economic output of more than $6 trillion a year. The NAFTA thus guarantees that American workers will remain the most competitive in the world and that American consumers will continue to have access to the world's finest goods and services.
*Long-Standing Support for Free Trade with Mexico. Ronald Reagan first proposed a free trade agreement between the U.S. and Mexico in his 1980 presidential campaign. Since that time, The Heritage Foundation is proud of the role it has played in articulating President Reagan's vision of free trade in Latin America and around the world. Since the mid-1980s, Heritage analysts have been stressing that a free trade agreement with Mexico not only will stimulate economic growth in the U.S., but will make Mexico a more stable and prosperous country. Heritage has published over three dozen studies stressing the benefits of free trade in North America.

The Foundation also has highlighted the Mexican success story. Under the leadership of Mexican President Carlos Salinas de Gortari, Mexico has moved further and faster than practically any other country in the world in promoting free market reforms and free trade.
Four years later, Heritage analyst Michael Wilson argued in an Executive Memorandum entitled "Bush and Salinas Should Launch Free Trade Talks Between the U.S. and Mexico": "What were once distant neighbors now appear to be developing into economic and geopolitical partners. George Bush should strengthen this cooperative relationship not only by supporting Salinas's economic reforms, but by moving quickly to negotiate a free trade agreement with Mexico."

The Politics of Fear vs. the Politics of Hope. The approval of the NAFTA not only represents a victory for the U.S. economy and the American people, it also deals a blow to organized labor and other protectionist forces. The agreement reaffirms the American commitment to competition and free enterprise that other nations emulate.
The NAFTA win is a great victory for free trade conservatives. It was they who first championed the notion of free trade with Mexico. And it is they who will carry the banner of free trade in the future -- a banner under which even Bill Clinton now marches.



Just note that your free to reference,Carlos Salinas and his brother who were friends with Bush Senior were charged with a large cocaine smuggling operation.The president of Mexico lauded as great free market man was a drug smuggling crook.Its no secret.

Anonymous said...

?Yep about 10 Years ago right ?
Clinton and Congress rammed it through at gun point to allow mortgages for low income high risk borrowers.

What are you talking about?
Clinton then he signs NAFTA to take away millions of factory jobs and opens the borders to allow $2 an hour take those jobs left.
Drunk dummy from Texas follows, put on knee pads for Vincente Fox.
--Taken from the United states and Mexico chamber of Commerce.
http://www.usmcoc.org/b-nafta6.html

NAFTA was negotiated and approved with bipartisan support in the U.S. During his campaign in 1980, President Reagan proposed a "North American Accord." In the mid-1980s, President de la Madrid began a dramatic opening of the Mexican economy leading to Mexico's accession to the General Agreement on Tariffs and Trade (GATT) in 1987. Negotiations to lock in and deepen this trade and investment liberalization took place under President Bush with the oversight of a Democratic-led Congress. This agreement was passed with the strong support of President Clinton and the Republican leadership in the Congress.

Divided and quarreling.The right loves to see that.

Michael said...

Our problems are the result of 40 years of domestic and foreign policy failures. Don't go bashing those "liberal sacks" or Bush, the failure came from both sides of the aisle and everywhere in between.

italian girl said...

I am also sick of people bashing "liberals" for ruining this country. What have conservatives done that's so great?
And as for these properties that aren't selling, don't blame Obama for anything. Blame Bloomie for building way more housing than this city ever needed. And yes, with a recession going deeper and deeper, you will have more homeless people. Where should they end up? In the street? Have some compassion. It could be you in that predicament.

georgetheatheist said...

Italian "girl" sez:

"I am also sick of people basjing 'liberals' for ruining this country. What have conservatives done that's so great?"

The Republicans and Democrats all have their peepees together in a perpetual game of ring-around-the rosy.

The solution lies in neither Liberalism nor Conservatism. The solution lies in Objectivism.

www.aynrand.org

PS Vas dat you Sharlie? I mean Ridgewoodian? Why the hiding behind anonymity all of a sudden?

georgetheatheist said...

BTW Bernie Maddow did not run the largest Ponzi scheme ever.

That "honor" goes to the Liberal/Roosevelt concocted Social Security system. The Boomers are now just retiring, i.e. withdrawing their moolah. Stay tuned; the shit is just reaching the fan blades. Can you smell it?

This forthcoming fiasco will make Maddow look like a piker.

www.nra.org

italian girl said...

"The solution lies in neither Liberalism nor Conservatism. The solution lies in Objectivism.

www.aynrand.org"

Why don't you shove that philosophical sh@# somewhere else?


"BTW Bernie Maddow did not run the largest Ponzi scheme ever."


You are correct.
It was actually Bernie Maddoff.


"Italian "girl" sez:"

If you still have beef about my name, you may want to reconsider yours. "Georgetheatheist" is pretty idiotic if you want to know the truth.

back in black said...

homeless they all could move in with hiram at his new apartment @ willets point they are all criminals vote them all out ----tony avella for mayor

-Joe said...

The post placing NAFTA on Ronald Reagan is faux. Its propaganda taken from the Mexican Chamber of Commerce !

www.usmcoc.org/b-nafta6.html

NAFTA is Clintons baby, nobody it was his arm and pen that did it.
Rapist lier was so infatuated with BJ's from young MTV reporters and female staff he never read the fineprint on things he signed.

I worked in television at the time

-Joe

joe a (w.p.) said...

lets build willets point so those codos dont sell to what a joke

joe a (w.p.) said...

lets build willets point so those codos dont sell to what a joke

joe a (w.p.) said...

lets build willets point so those codos dont sell to what a joke

Anonymous said...

Italian Girl. Who's "Bernie Maddoff"?

Anonymous said...

wiki "bernard madoff"

-Joe said...

Whos "Bernie Maddoff"

The press sure hushed that up good
Of of Bloomie's Billionare friends who stole 50 Billion Dollars in a ponzi chariety scheme and sent the $$ offshore

Maddoff didnt spend 1 day in jail (jew judge gave him ROR) and is currenly living in a Park ave penthouse no doubt planning his escape back to Israel or the Bahamas.

Prooving crime is OK only when the Jewish commit it !!
Martha Stewart, Paris Hilton and Tommy Chong got leg shackes, world wide news cameras AND weeks in the pokey !

3 of the biggest acts of racism prejudice and discrimination I have ever seen, isnt it disgusting ?

-Joe

Anonymous said...

georgetheatheist said:
www.aynrand.org
www.atlasshrugged.com

Anonymous says:
I was into that stuff in high school, when I was an idealist. Since then I've awakened to the real world. I advise you to do the same.

georgetheatheist said...

"Since then, I've awakened to the real world. I advise you to do the same."

Objectivism IS the real world.

Anonymous said...

italian girl is the type of person that gives Italians, Queens and women a bad reputation. It is as if she is proud of being ignorant.
What is wrong with george the atheist's name? Do you have something against atheism? Please don't tell me you are Catholic. Any woman that accepts the Catholic Church's values is brainwashed and mindless.

Anonymous said...

Joe, thanks for showing everyone that bigotry and lack of intelligence go hand in hand.

italian girl said...

Anonymous, could you be any more clueless? Not that I need to explain this to you but here goes. My friend georgie has a history of ridiculing my name. So I took this opportunity to stick it to him. I have no opinion on atheism and yes I am Catholic and I am NOT brainwashed by any of the Catholic Church's BS.

As far as Queens, women and Italians. I am not a spokesperson for anyone. Nor do I care to be. So in the future, when you don't know what the hell you're talking about, maybe you should just mind your own business. Deal?

Joe said...

Im not a rasist nor making this up its fact.
If your offended dont read my post.

Another scam, this time Russian "Buk" lawyers scam and take 350 Million from New Yorkers
Not a peep in the papers, GOOGLE Kosta Kovachev , Marc Dreier Solow Realty.
Guess which 2 are not in jail ?

Im not making this up stuff up !
All these foreigner need to be put in shackels and deported !

Anonymous said...

Objectivism IS the real world.

No, Big-O "Objectivism," despite having "objective" as its root, is most definitely NOT the real world. It is a worldview espoused by a Grade B philosopher and novelist.

georgetheatheist said...

Au contraire, mon frere. Objectivism is indeedy-deedy the champion of the real world. It is the philosophy of existence, the validation of reality. It is Aristotle's here and now as opposed to Plato's supernaturalism.

And what philosophy pray [ahem] -tell in your mind espouses existence? Do you have an answer? Or are you one of the lowest forms of humanity, an agnostic?

Please, the readers are awaiting on the edges of their chairs.

georgetheatheist said...

Italian "girl". [It's amazing what 4 teeny-weeny lines of punctuation can accomplish.] I assume you're a grown WOMAN. Why refer to yourself as a GIRL? That appelation diminishes the weight of any arguments you make. [I know, I know your padre called you that years ago as he bounced you up and down on his knee. What a heart-warming vignette.] In my opinion, your use of "girl" is analogous to blacks using the word "nigger" as a term of endearment.

Your "friend georgie" was really shocked -shocked- when you stated that you are a Catholic and are "NOT brainwashed by any of
the Catholic Church's BS". Heaven help us! How can that be? Italian "girl"? You a Catholic referring to the magisterium as "BS"?

We, the Craperoos, hereby call upon Bishop Nicholas DiMarzio, the Bishop of the Diocese of Brooklyn (encompassing Brooklyn and Queens) to investigate this heresy. A case for ex-communication perhaps?

Repent thou sinner. For thy immortal soul is at stake. On your knees "girl": 10 Our Fathers, 10 Hail Marys, & 10 Glory Be's.

PS I hope somebody in your life today is bouncing you up and down on their knees. Hhmm?

Anonymous said...

italian girl - you don't have to be a spokesperson to give Italians and Queens residents a bad name. Your posting ignorant comments in a public forum does plenty.
So you claim yourself a Catholic, presumably you support Catholicism, but you then call the Catholic Church "BS." Makes a lot of sense.

Anonymous said...

Joe, you have zero knowledge or understanding of criminal procedure. Like I said, thanks for showing the connection between being racist and being brainless.

italian girl said...

"Italian "girl". [It's amazing what 4 teeny-weeny lines of punctuation can accomplish.] I assume you're a grown WOMAN. Why refer to yourself as a GIRL?"

Cause that's what I am, my darling.

"That appelation diminishes the weight of any arguments you make. [I know, I know your padre called you that years ago as he bounced you up and down on his knee. What a heart-warming vignette.]"

No, actually, "princess" is what my daddy calls me... to this day. Would you like it if I called myself princess? How about "italian princess"? After all, I only want to make you happy.

In my opinion, your use of "girl" is analogous to blacks using the word "nigger" as a term of endearment.

WHAT????

"Your "friend georgie" was really shocked -shocked- when you stated that you are a Catholic and are "NOT brainwashed by any of
the Catholic Church's BS". Heaven help us! How can that be? Italian "girl"? You a Catholic referring to the magisterium as "BS"?"

I haven't seen the inside of a church in years and think their rules and regulations are antiquated and out of touch.

"We, the Craperoos, hereby call upon Bishop Nicholas DiMarzio, the Bishop of the Diocese of Brooklyn (encompassing Brooklyn and Queens) to investigate this heresy. A case for ex-communication perhaps?

Repent thou sinner. For thy immortal soul is at stake. On your knees "girl": 10 Our Fathers, 10 Hail Marys, & 10 Glory Be's."


Alright, calm down.

"PS I hope somebody in your life today is bouncing you up and down on their knees. Hhmm?"


Hmmmmm. Wouldn't you like to know.
;)

italian girl said...

Anonymous, if you think my comments are so ignorant, the why are you taking the time to respond to my unfortunate, misguided thoughts?

georgetheatheist said...

It's so much fun -FUN - to go into the barn at night and scare the animals.

italian "girl" said...

HUH???

-Joe said...

No Knowledge of criminal procedure. What procedure?

It’s INNICENT TILL PROVEN BROKE especially…and if you hold BIG $$ or have rich friends like THE MAYOR!

We no longer have PROCEDURE!
We have a legal system commanded by pirates, lawyers and judges who can throw anything anyplace!!!

These people have even changed what crime is ! Things that were felonies are now misdemeanors to make the crime stats look sweeter.

I believe that about covers it.


-Joe

Anonymous said...

Gee, I wonder where we heard all this first?? Amid the protests of the real estate lackeys telling us all to, "remain calm, all is well!"

Anonymous said...

??????????The post placing NAFTA on Ronald Reagan is faux. Its propaganda taken from the Mexican Chamber of Commerce !

www.usmcoc.org/b-nafta6.html

NAFTA is Clintons baby, nobody it was his arm and pen that did it.
Rapist lier was so infatuated with BJ's from young MTV reporters and female staff he never read the fineprint on things he signed.

I worked in television at the time


Joe you can find video footage which i have on tape and its easy to find on the internet video from many places watching Reagan praise NAFTA.My god you are kidding yourself.Thats not the mexican Chamber of Commerce, its a new joint commerce exporting jobs to all the large companies who got tax breaks from Reagan and Bush from GATT.Clinton joined in but didnt create the exile of jobs.
Correct George the baby boomers are gonna draw till the well runs dry.Stay off that highway system and every other public used infrastructure built during Roosevelt you hate so much.Stay off those darn liberal public works.
Madoff 2nd,Enron first and Wolrd Com 3rd for biggest ponzi scheme.