Rochester ranked #1 metro in quality of life in the nation for middle class families! (Florida: condos, new house)

[rochacha]

Originally Posted by Muggy

You guys can delude yourselves all you'd like. I always have to say, "I love Rochester" so that y'all realize I don't have an anti-Rochester bias. The housing bubble prevented price declines in this area. I know, I am one of the idiots that moved back from NYC and bought an overpriced condo, only to sell it to another sucka.

Every argument presented on these and other forums supporting upstate real estate uses the same arguments I heard in Florida in 2005. By the end of 2008 it will be obvious to you. In 2009 and 2010 you will see a flood of inventory in the Rochester market.

Please bookmark this page for future reference. Upstate New York is not immune to market forces. You can use the same idiot realtor hyperbole spewed in Floreeduh and Clownifornia, or you can embrace the facts. But then again, denial is upstate's greatest asset.

I'm open to debate on this. "Because everyone else is doing it" is not debate. Neither is some links to the Democrap, which follows what everyone else is reporting on without any real insight or factchecking.

[rubygreta]

Originally Posted by Muggy

You guys can delude yourselves all you'd like. I always have to say, "I love Rochester" so that y'all realize I don't have an anti-Rochester bias. The housing bubble prevented price declines in this area. I know, I am one of the idiots that moved back from NYC and bought an overpriced condo, only to sell it to another sucka.

Every argument presented on these and other forums supporting upstate real estate uses the same arguments I heard in Florida in 2005. By the end of 2008 it will be obvious to you. In 2009 and 2010 you will see a flood of inventory in the Rochester market.

Please bookmark this page for future reference. Upstate New York is not immune to market forces. You can use the same idiot realtor hyperbole spewed in Floreeduh and Clownifornia, or you can embrace the facts. But then again, denial is upstate's greatest asset.

Muggy, how can you compare Rochester to Florida? Florida's real estate values virtually doubled from 2000 to 2005, which resulted in a massive amount of overbuilding. Plus many mortages were subprime. This has resulted in a 25% decline in property values, and a glut of new houses and condos.

In the same period, what did Rochester's property values increase by, 20%? And where are the thousands of new condos and single-family houses that are wilting on the market? There aren't many. Also, subprime is hardly a factor here.

So there is no comparison.

[Muggy]

Originally Posted by rubygreta

Muggy, how can you compare Rochester to Florida? Florida's real estate values virtually doubled from 2000 to 2005, which resulted in a massive amount of overbuilding. Plus many mortages were subprime. This has resulted in a 25% decline in property values, and a glut of new houses and condos.

In the same period, what did Rochester's property values increase by, 20%? And where are the thousands of new condos and single-family houses that are wilting on the market? There aren't many. Also, subprime is hardly a factor here.

So there is no comparison.

Subprime is a factor here, you just can't figure out how on your own. There is also TONS of new construction; Victor, Fairport, Pittsford, Henrietta. What the frick are you talking about? My sister owns a McMansion in a Ryan development built in the last few years. I was just over there.

You must be a realtor or investor.

The comparison to Florida is valid. The bubble *PREVENTED* price declines in Rochester. Bookmark this thread and apologize to me in 2 years. Read the HBB until then.

[I'minformed2]

Originally Posted by rubygreta

Muggy, how can you compare Rochester to Florida? Florida's real estate values virtually doubled from 2000 to 2005, which resulted in a massive amount of overbuilding. Plus many mortages were subprime. This has resulted in a 25% decline in property values, and a glut of new houses and condos.

In the same period, what did Rochester's property values increase by, 20%? And where are the thousands of new condos and single-family houses that are wilting on the market? There aren't many. Also, subprime is hardly a factor here.

So there is no comparison.

Have to agree with this. I've never thought we had a GREAT real estate market here, it's actually very much plain and average and always has been. But these days plain and average is pretty damn good compaired to the alternative much of the rest of the country is facing right now. I don't see any bubble bursting here because there was no bubble to begin with. What I see is in a few years, some of the bubble markets that went bust will rebound and probably see big price increases again, while we will continue with the unexciting yet stable market we have here.

[Muggy]

Originally Posted by I'minformed2

But these days plain and average is pretty damn good

Rochester-area home sales down 11 percent from 2007 | democratandchronicle.com | Democrat and Chronicle

Detroit & Buffalo had "no bubble" either. You should read up on the subject. There is nothing to agree or disagree with; you either embrace reality, or you don't. Not having huge price run-ups does not mean you escaped the bubble.

You ARE facing the same problems as the rest of the nation, you just don't know it yet. It's disappointing to see intelligent people unable to put this all together.

[rochacha]

Originally Posted by Muggy

Rochester-area home sales down 11 percent from 2007 | democratandchronicle.com | Democrat and Chronicle

Detroit & Buffalo had "no bubble" either. You should read up on the subject. There is nothing to agree or disagree with; you either embrace reality, or you don't. Not having huge price run-ups does not mean you escaped the bubble.

You ARE facing the same problems as the rest of the nation, you just don't know it yet. It's disappointing to see intelligent people unable to put this all together.

I love these "I'm correct just because I said so" posts with no facts or information as to why you are making these claims. Buffalo's real estate market is no different than Rochester's despite losing a measurable part of its population yearly, unless you are talking about when Bethlehem Steel collapsed in the 80's/90's. Detroit's problems are from the auto industry.

Muggy, are you a speculator who is looking for a deal? Like I said before, I'm open to a real discussion to whether the Rochester market will be affected by this, but I just don't see any evidence and you certainly aren't giving any other than "just because".

Housing Market Crashes In Detroit: Housing prices continue to plummet in Detroit
Detroit housing market feels car industry's chill - Real estate - MSNBC.com
Close to home: Buffalo home values rise slowly, steadily - USATODAY.com

[everyone luvs da longball]

A MESSAGE TO ALL CITIZENS OF ROCHESTER:

I'ts great to hear that your city is ranked #1 in the US!!!
I myself think that Rochester is a great American city. It is the home to famous American corporations such as Xerox, Kodak, and Bird's Eye Foods. The city also displays beautiful architecture and boasts of great schools! I just want to say that Rochester is a great place!!!

Please feel free to comment on my message. Thank you.

[Rochester-WNY]

Originally Posted by everyone luvs da longball

A MESSAGE TO ALL CITIZENS OF ROCHESTER:

I'ts great to hear that your city is ranked #1 in the US!!!
I myself think that Rochester is a great American city. It is the home to famous American corporations such as Xerox, Kodak, and Bird's Eye Foods. The city also displays beautiful architecture and boasts of great schools! I just want to say that Rochester is a great place!!!

Please feel free to comment on my message. Thank you.

Ill comment back. I love your comment.

[smalltownusa]

Originally Posted by Muggy

Rochester-area home sales down 11 percent from 2007 | democratandchronicle.com | Democrat and Chronicle

Detroit & Buffalo had "no bubble" either. You should read up on the subject. There is nothing to agree or disagree with; you either embrace reality, or you don't. Not having huge price run-ups does not mean you escaped the bubble.

You ARE facing the same problems as the rest of the nation, you just don't know it yet. It's disappointing to see intelligent people unable to put this all together.

You may as well give up your "dead horse" beating as you never put a basic, very human element into your equation of how the housing market works in the Rochester area: this is a very family oriented area with deep roots and deeper defenses when rode up on by a person who insists the area is a mess and we "just don't know it" yet!

Realize it's not that intelligent people can't figure it out. Rochester has a tough road ahead of it as does the entire state due to the loss of population and businesses to the South. No too many people will deny that.

But if I can go visit my siblings and parents in an afternoon, have my kids raised with deep family ties, and go to a job that covers my lifestyle and expenses, do I really need to dwell on what "may" happen tomorrow, next month, next year?

As many wise people have said: there is more to life than cashing in on your over priced home.....

If you love this area, fight to bring it back around.....if you hate it, there's a bus leaving for Utopia, USA every hour.....

[shibainu]

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