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Old 01-02-2015, 01:12 AM
 
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Quote:
Originally Posted by G-Dale View Post
By old school I'm not talking about '70s style crack cocaine ghettos. That we still have plenty of lingering around, e.g., East Harlem, BedStuy, ENY, Bushwick, etc...
Crack Coaine isn't even big anymore, so no.

And it's interesting the way people here love to passively aggressively say racial things. I've seen my share of COCAINE in Manhattan south of 96th Street. You've no shortage of junkies in white neighborhoods, but I wonder why is it so cool to point them out in non white neighborhoods?

And by the way, one of the worst spots in East Harlem (125th and Lexington) where Harlem concentrates it's SROs still sold for 39 million dollars to a developer (PathMark site). Much more money is flowing into Bedstuy, Bushwick, and East Harlem than ever will flow into Glendale, a neighborhood that is nearly off the grill in Queens.

For those who owned property in these neighborhoods back even in the 90s, think of the massive return on their investment that these owners got. If you bought in these neighborhoods back when the average idiot working class New Yorker was screaming how horrible these places are, you're rich now. It's the contrarian theory. The average person is always wrong and when you see a lot of average people doing something do the opposite.

The opposite is true, when you see a feeding frenzy on purchasing (think the real estate market in 2007) that's when you know things are going to collapse. At that point everyone who had a few cents were making ridiculous bets on real estate. When the market gets flooded like that, it's a sign of collapse (too many idiots who can't even spell invest) so the smart money reduces exposure.
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Old 01-02-2015, 03:17 AM
 
1,998 posts, read 1,371,533 times
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Quote:
Originally Posted by NyWriterdude View Post
For those who owned property in these neighborhoods back even in the 90s, think of the massive return on their investment that these owners got. If you bought in these neighborhoods back when the average idiot working class New Yorker was screaming how horrible these places are, you're rich now. It's the contrarian theory. The average person is always wrong and when you see a lot of average people doing something do the opposite.

The opposite is true, when you see a feeding frenzy on purchasing (think the real estate market in 2007) that's when you know things are going to collapse. At that point everyone who had a few cents were making ridiculous bets on real estate. When the market gets flooded like that, it's a sign of collapse (too many idiots who can't even spell invest) so the smart money reduces exposure.
You will have to show your work to get me to believe this. I get the impression your cherry picking data set and throwing out cliches to justify a flawed argument. It would have been preferable to hold stocks in the Dow Jones industrial average than having Brooklyn real estate since 1990.

For the 2007 example: Only Goldman Sachs has shown to have any ability in timing the market, everyone else has been proving to having just gotten lucky.
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Old 01-02-2015, 04:53 AM
 
24,196 posts, read 17,584,759 times
Reputation: 9149
Quote:
Originally Posted by NYer23 View Post
You will have to show your work to get me to believe this. I get the impression your cherry picking data set and throwing out cliches to justify a flawed argument. It would have been preferable to hold stocks in the Dow Jones industrial average than having Brooklyn real estate since 1990.

For the 2007 example: Only Goldman Sachs has shown to have any ability in timing the market, everyone else has been proving to having just gotten lucky.
Show your data set showing that it would be preferable to hold stocks in the Dow Jones Industrial Average.

The financial markets and Goldman Sachs are irrelevant to this discussion. Brooklyn has seen massive price appreciations in the past 20 years. In fact, some neighborhoods have seen rapid price appreciation in the past 5 years. If you buy low and sell high you made a return on your investment. And those who invested in Brooklyn real estate have done very well.

No figures need to be supplied. Much of Brooklyn is a construction zone, meaning people who owned real estate years ago SOLD their real estate to DEVELOPERS. Brooklyn real estate wasn't worth much in the 90s, and we all know that.

If you want to know more about this, I charge money for my research fees. Learn to Google and look up credible sources, and sites that track real estate deals and sales.
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Old 01-02-2015, 05:42 AM
 
10,630 posts, read 8,515,744 times
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Quote:
Originally Posted by NyWriterdude View Post
Crack Coaine isn't even big anymore, so no.

And it's interesting the way people here love to passively aggressively say racial things. I've seen my share of COCAINE in Manhattan south of 96th Street. You've no shortage of junkies in white neighborhoods, but I wonder why is it so cool to point them out in non white neighborhoods?

And by the way, one of the worst spots in East Harlem (125th and Lexington) where Harlem concentrates it's SROs still sold for 39 million dollars to a developer (PathMark site). Much more money is flowing into Bedstuy, Bushwick, and East Harlem than ever will flow into Glendale, a neighborhood that is nearly off the grill in Queens.

For those who owned property in these neighborhoods back even in the 90s, think of the massive return on their investment that these owners got. If you bought in these neighborhoods back when the average idiot working class New Yorker was screaming how horrible these places are, you're rich now. It's the contrarian theory. The average person is always wrong and when you see a lot of average people doing something do the opposite.

The opposite is true, when you see a feeding frenzy on purchasing (think the real estate market in 2007) that's when you know things are going to collapse. At that point everyone who had a few cents were making ridiculous bets on real estate. When the market gets flooded like that, it's a sign of collapse (too many idiots who can't even spell invest) so the smart money reduces exposure.
Did you really just pull the race card out like that for no apparent reason? That's awfully immature. Just because I state the obvious on East Harlem, Bushwick and Bed Stuy being ghetto as heck? Because they have far more rehabilitation centers than the nearby whiter nabes?

You should really take a look at the real estate transactions going on in the Ridgewood/Glendale zip code 11385 before spewing nonsense. Its one of the hottest markets in the Queens. My property almost doubled in just a couple years.
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Old 01-02-2015, 05:51 AM
 
10,630 posts, read 8,515,744 times
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Originally Posted by Bronxguyanese View Post
Williamsburg still has old school remnants. Example South side Williamsburg still has heavy Hispanic presence. Also Williamsburg plays host to an Italian American festival. These are all bastions of what was once old school Williamsburg and still exist but again time and money go hand in hand and these elements may disappear.
Exactly. By old school NYC, I'm thinking of places that still have strong Italian, Puerto Rican, German, and European Jewish cultural existences. Would add Irish, but for the most part that's all but vanished from the scene by now.
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Old 01-02-2015, 06:31 AM
 
24,196 posts, read 17,584,759 times
Reputation: 9149
Quote:
Originally Posted by G-Dale View Post
Did you really just pull the race card out like that for no apparent reason? That's awfully immature. Just because I state the obvious on East Harlem, Bushwick and Bed Stuy being ghetto as heck? Because they have far more rehabilitation centers than the nearby whiter nabes?

You should really take a look at the real estate transactions going on in the Ridgewood/Glendale zip code 11385 before spewing nonsense. Its one of the hottest markets in the Queens. My property almost doubled in just a couple years.
If the shoe fits, wear it. Most of the people in those neighborhoods are not residents of rehabilitation centers, so again you stereotype.

And what is ghetto as heck? Full of poor Blacks and Hispanics? Well, no fears there, I seriously doubt they can afford market rate in those neighborhoods. They are rather rapidly being displaced, yet you go out of your way to portray these neighborhoods in ways they have not been since the 80s.

Why would I look at Glendale's real estate transactions when it gets absolutely no press. Investors and the media are far more excited about other neighborhoods in the city, some of which you love to deride.

We hear

"…That Douglas Elliman’s Alex Maroni recently closed on three units at 252 Gates Ave. in Bedford Stuyvesant, for a combined price of almost $4.2 million — a record for the neighborhood. The first unit sold for $1.83 million — which is well over the previous condo record of $1.25 million in Bed-Stuy last December."

"Just in time for the new year, it's another new record for a townhouse in Bed-Stuy. This time at 101 Hancock Street, which listed for $2.45M to much fanfare and is now in contract slightly over that asking price. From the developers who brought you another Bed-Stuy record breaker over $2M at 22 Arlington Place, and who landed $3.5M not far away on the Clinton Hill / Fort Greene border at 384 Vanderbilt Avenue, this renovated 2-Family is part modern, part generic, part stunner."

BK to the Fullest: Another Record Being Broken in Bed-Stuy: 101 Hancock Street

These prices sure aren't ghetto as heck. I don't think people who live in rehabs are putting down that kind of money (or that they even have it).

For that matter, neither was the 39 million dollars used to purchase Pathmark on 125th and Lexington.

Obviously this money isn't being used to house junkies, and the poor underclass in these neighborhoods is being rapidly displaced.
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Old 01-02-2015, 06:47 AM
 
10,630 posts, read 8,515,744 times
Reputation: 5120
Quote:
Originally Posted by NyWriterdude View Post
If the shoe fits, wear it. Most of the people in those neighborhoods are not residents of rehabilitation centers, so again you stereotype.

And what is ghetto as heck? Full of poor Blacks and Hispanics? Well, no fears there, I seriously doubt they can afford market rate in those neighborhoods. They are rather rapidly being displaced, yet you go out of your way to portray these neighborhoods in ways they have not been since the 80s.

Why would I look at Glendale's real estate transactions when it gets absolutely no press. Investors and the media are far more excited about other neighborhoods in the city, some of which you love to deride.

We hear

"…That Douglas Elliman’s Alex Maroni recently closed on three units at 252 Gates Ave. in Bedford Stuyvesant, for a combined price of almost $4.2 million — a record for the neighborhood. The first unit sold for $1.83 million — which is well over the previous condo record of $1.25 million in Bed-Stuy last December."

"Just in time for the new year, it's another new record for a townhouse in Bed-Stuy. This time at 101 Hancock Street, which listed for $2.45M to much fanfare and is now in contract slightly over that asking price. From the developers who brought you another Bed-Stuy record breaker over $2M at 22 Arlington Place, and who landed $3.5M not far away on the Clinton Hill / Fort Greene border at 384 Vanderbilt Avenue, this renovated 2-Family is part modern, part generic, part stunner."

BK to the Fullest: Another Record Being Broken in Bed-Stuy: 101 Hancock Street

These prices sure aren't ghetto as heck. I don't think people who live in rehabs are putting down that kind of money (or that they even have it).

For that matter, neither was the 39 million dollars used to purchase Pathmark on 125th and Lexington.

Obviously this money isn't being used to house junkies, and the poor underclass in these neighborhoods is being rapidly displaced.
Did you just post a link from a site titled 'BK to the fullest?' Brooklyn gets cornier by the day.

My buddy just got displaced from here over to BedStuy. Sucks for him.

Last edited by ShirlMastic Beach; 01-02-2015 at 07:36 AM..
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Old 01-02-2015, 07:56 AM
 
24,196 posts, read 17,584,759 times
Reputation: 9149
Quote:
Originally Posted by G-Dale View Post
Did you just post a link from a site titled 'BK to the fullest?' Brooklyn gets cornier by the day.

My buddy just got displaced from here over to BedStuy. Sucks for him.
Your buddy is besides the point.

Those prices in recent real estate deals are not done by junkies or ghetto as heck people. Those properties are being bought by those who can afford them. Fairly affluent people who likely have more money than you.
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Old 01-02-2015, 07:57 AM
 
1,998 posts, read 1,371,533 times
Reputation: 1220
Quote:
Originally Posted by NyWriterdude View Post
Show your data set showing that it would be preferable to hold stocks in the Dow Jones Industrial Average.
Dow Jones Industrial Average goes from $3K to $18K since 1990.
History of Dow Jones Industrial Average

Below link outlines BK real estate from 1970-2006.
http://furmancenter.org/files/Trends...preciation.pdf

Lastly see below for article that provides an example in which spike lee bought a townhouse on Washington Park for $650,000 in 1990, sold it In 1999 for about $1 million. Only for it to reach $2.75 millions listing price 10 years later.
The gentrification of Spike Lee - NY Daily News

You can't really assume everyone was able to take full advantage of the appreciation of the property value increasing.
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Old 01-02-2015, 08:12 AM
 
1,774 posts, read 1,542,386 times
Reputation: 1063
Quote:
Originally Posted by NYer23 View Post
Dow Jones Industrial Average goes from $3K to $18K since 1990.
History of Dow Jones Industrial Average

Below link outlines BK real estate from 1970-2006.
http://furmancenter.org/files/Trends...preciation.pdf

Lastly see below for article that provides an example in which spike lee bought a townhouse on Washington Park for $650,000 in 1990, sold it In 1999 for about $1 million. Only for it to reach $2.75 millions listing price 10 years later.
The gentrification of Spike Lee - NY Daily News

You can't really assume everyone was able to take full advantage of the appreciation of the property value increasing.
True that you can't assume everyone was able to take full advantage. But I also think that the returns for some homeowners are understated in that most are extremely leveraged via a mortgage. A normal person would have put down about 150k on that 650k property resulting close to a 2000% return. True that they have to pay the mortgage, but they also save on rent. Most normal stock investors employ at most a 2 to 1 leverage on a margin account if at all.
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