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Old 08-10-2019, 09:04 AM
 
Location: NY
4,103 posts, read 1,057,479 times
Reputation: 2427

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Quote:
Originally Posted by mathjak107 View Post
although will rogers was wrong when he said buy land , they are not making anymore of it ...

we have lots of huge developments on landfill where water once was ,places like battery park city .
Opinion:

absolutely right..........and though you or I may not see it ( we can't live forever ) open land just beyond the
our state borders will be the next best things if and that's a big if the city continues to grow..........

P.S. Not many people know Will Rogers but he was dead on. Buy and sit......................Wait and Sell .
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Old 08-10-2019, 09:55 AM
 
3,565 posts, read 3,400,035 times
Reputation: 2612
Quote:
Originally Posted by bluedog2 View Post
O

And most of the timei itís the dumbest calculation. At least in my 50 years of NYC real estate hunting.

I have numerous friends who have been waiting and talking about how cool and smart it is to wait since 2008. It hasnít worked to their favor at all either in prices or the horrendous hundreds of thousands they have shelled out in rent while waiting.

It seems like there has been a substantial group of these market timers during every NYC real estate epoch I have witnessed since the 70ís . In the end it never seems to work for most of them. Market timing doesnít seem to work for most in the stock market either.



There is noting wrong with playing the waiting game...your justification of waiting as "the dumbest calculation" based on the experience of numerous friends who have been waiting might not be universally applicable...is it possible that you happen to associate with numerous friends who aren't very smart overall...


I saw the listing price for a one bed apt dropping from $888k to $788K in the past few months near where I live, and similar trend for numerous other properties citywide and in LI. I was interested in a townhouse in FH back in 2013 that I could have got for $750K if I acted fast enough, but it went up too much too soon within a few months due to a tight marker... but as of today there are many better options available around my target price again.




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Old 08-10-2019, 10:19 AM
 
72,736 posts, read 72,559,630 times
Reputation: 50254
Quote:
Originally Posted by leoliu View Post
There is noting wrong with playing the waiting game...your justification of waiting as "the dumbest calculation" based on the experience of numerous friends who have been waiting might not be universally applicable...is it possible that you happen to associate with numerous friends who aren't very smart overall...


I saw the listing price for a one bed apt dropping from $888k to $788K in the past few months near where I live, and similar trend for numerous other properties citywide and in LI. I was interested in a townhouse in FH back in 2013 that I could have got for $750K if I acted fast enough, but it went up too much too soon within a few months due to a tight marker... but as of today there are many better options available around my target price again.




the problem with waiting is , well just that . once prices start to fall people wait for them to fall further ..

then they start to rise and they wait for them to fall back ... of course they don't and once again they get left behind ..

this is why morningstars small investor returns lag the funds all the time ......

people try to time their exits and buys and shoot themselves in the foot ....

sure it is easy to sit on the side and watch prices plummet in a good recession and feel smart , but few actually step up to the plate to take advantage since few end up wanting to catch the proverbial falling knife. this is a story that repeats and repeats
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Old 08-10-2019, 11:00 AM
 
3,565 posts, read 3,400,035 times
Reputation: 2612
Quote:
Originally Posted by mathjak107 View Post
the problem with waiting is , well just that . once prices start to fall people wait for them to fall further ..

then they start to rise and they wait for them to fall back ... of course they don't and once again they get left behind ..

this is why morningstars small investor returns lag the funds all the time ......

people try to time their exits and buys and shoot themselves in the foot ....

sure it is easy to sit on the side and watch prices plummet in a good recession and feel smart , but few actually step up to the plate to take advantage since few end up wanting to catch the proverbial falling knife. this is a story that repeats and repeats



if you haven't learned the 101s of trading/investment, here is one tip of the day: market entry point/timing for a significant long-term position has over 50% impact on your future investment outcome (success, return, and psychological well being, etc).


The reason that the RE market softens and declines at the moment is due to that majority of investors, big or small, are sitting on the side WAITING...when to enter, that is a tip for another day...
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Old 08-10-2019, 06:04 PM
 
72,736 posts, read 72,559,630 times
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good luck timing the buy point .... yeah i know you do it all the time is what you will tell us


ha ha ha ---investing 101...
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Old 08-10-2019, 09:28 PM
 
3,565 posts, read 3,400,035 times
Reputation: 2612
Quote:
Originally Posted by mathjak107 View Post
good luck timing the buy point .... yeah i know you do it all the time is what you will tell us

ha ha ha ---investing 101...

i know you did a relatively good job in investing...but there are still a lot to learn and improve...if you could get off your high horse and listen, you could do even better...
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Old 08-11-2019, 02:42 AM
 
72,736 posts, read 72,559,630 times
Reputation: 50254
Quote:
Originally Posted by leoliu View Post
i know you did a relatively good job in investing...but there are still a lot to learn and improve...if you could get off your high horse and listen, you could do even better...
i do listen and learn from those a whole lot smarter then i am ..i owe my knowledge to the likes of michael kitces , dr pfau , milevsky , blanchette , spitzer etc . i have made it a point to learn who the smart people are and learn from them .

.. unlike others who run on myth , what they think , old wives tales and just poor ideas financially as they parrot other mis-informed people or come up with ideas that have already been proven to be bad ways of doing things like trying to market time . .
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Old 08-11-2019, 03:01 AM
 
Location: New York City
2 posts, read 1,237 times
Reputation: 10
I wish NYC were more affordable. It's interesting to read these posts, though, and see some who have succeeded and secured themselves a home. https://www.nycinsiderguide.com/new-...ents-september
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Old 08-11-2019, 04:35 AM
 
Location: NY
4,103 posts, read 1,057,479 times
Reputation: 2427
Quote:
Originally Posted by NYCInsider View Post
I wish NYC were more affordable. It's interesting to read these posts, though, and see some who have succeeded and secured themselves a home. https://www.nycinsiderguide.com/new-...ents-september


If you pay close attention you will gain valuable knowledge from common blue collar workers as myself invested and many of those who make a living in the real estate market. My livelihood was based on my profession far removed from real estate unlike a realtor making a living offering his invaluable opinion on when or when not to. He is married to his work as I was to mine. He will offer you the opinion that will benefit his investment such as I would point you to my company for services. I am blessed to have helped friends purchase homes without the aid of a realtor. In all fairness there is no right or wrong. In the end if you are happy with your million dollar purchase for 1500 square feet of living space, no driveway and high property taxes or a $800,000 purchase for 4000 square feet feet of living space, parking for 5 cars and lower taxes then so be it. I played the waiting game which requires many many untold investment hours. It's no different then setting a trap and waiting patiently for it to spring rather unlike other hunters that walk away pompous in stature and come back the next day to collect the evening meal. Sometimes the best kept secret is to know where to set it. Best wishes to all. Happy House Hunting.
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Old 08-11-2019, 06:05 AM
 
483 posts, read 581,825 times
Reputation: 67
I will wait for another year to see what goes,because im ready to retire.
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