[JayCT]

Originally Posted by MrGompers

The same people who are buying the houses now. I;m still waiting for someone here to tell me where are the neighborhoods with hundreds or just even dozens of abandoned houses. No ones come thru yet.

Or towns where home prices have dropped 30%. Jay

[Stepfordct]

The upper end of FFld county is down that much in parts

[RiskReturn]

Originally Posted by Stepfordct

The upper end of FFld county is down that much in parts

This. Homes in the upper end of MANY towns in CT (FFC, New Haven, Hartford etc.) are selling for more than 30% below peak (2006/2007) levels... that is if the sellers are even able to get their houses off the market.

[JayCT]

Originally Posted by Stepfordct

The upper end of FFld county is down that much in parts

Originally Posted by Sri

This. Homes in the upper end of MANY towns in CT (FFC, New Haven, Hartford etc.) are selling for more than 30% below peak (2006/2007) levels... that is if the sellers are even able to get their houses off the market.

We are not talking about a couple homes that sold for 30% less. We are talking a specific trend of a town where homes have lost 30% of their value.

What a home sells for is complicated. There could be other reasons a home sells for significantly less than the last time it sold. Poor maintenance, changes made to the home, desperate seller, etc. are possible reasons for this. What we are talking about is a local market that has turned sour and all home prices are affected. Please provide backup and facts that show this. Jay

[RiskReturn]

Originally Posted by JayCT

We are not talking about a couple homes that sold for 30% less. We are talking a specific trend of a town where homes have lost 30% of their value.

What a home sells for is complicated. There could be other reasons a home sells for significantly less than the last time it sold. Poor maintenance, changes made to the home, desperate seller, etc. are possible reasons for this. What we are talking about is a local market that has turned sour and all home prices are affected. Please provide backup and facts that show this. Jay

I understand that there are a variety of factors that drive a home's sale price. I don't have the time to sift through all of the examples of recent homes sold to prove my point (you can hop on zillow or realtor.com and check out transaction histories for recently sold homes), but I will use these three recent sales in Avon to illustrate:


Well maintained home, sold in 2015 for 1.9M, sold again in 2017 for 1.75M ,sold in . Sold in 2019 for 1.25M. (34% reduction from 2005)
https://www.zillow.com/homedetails/2...69305063_zpid/ (sold for 1.2M) [Prayers to whoever bought this in 2017]


sold in 2001 for 442k... sold in 2019 for 400k (I guarantee you in 2006 this home would have been valued in the 600s)
https://www.zillow.com/homedetails/4...58126646_zpid/ (sold for 400k - closer to median)

2005- sold for 1.1M. 2009 - sold for 765k (30% reduction)
https://www.zillow.com/homedetails/9...59044385_zpid/ (sold for 765k, entering the "upper end of Avon market)


All 3 homes appear to be:
1. Well maintained
2. Updated/Newer
3. In very desirable locations

Homes selling below 2000 prices in a premier suburb... in what is probably the longest running bull market in history. If that's not a slap in the face I don't know what is.

[texan2yankee]

Originally Posted by JayCT

Aetna is NOT planning on leaving.

https://www.courant.com/business/hc-...128-story.html

You also were adamant UBS wasn't leaving stamford a few years ago. they did.

[Beeker2211]

Originally Posted by texan2yankee

You also were adamant UBS wasn't leaving stamford a few years ago. they did.

They closed the entirety of their US Mortgage rewriting operation, technology cut down on in-house trading desks industry wide, and they pared down their wealth management business for reasons. It's not like they moved the vast majority of those jobs elsewhere (except their satellite in NJ, which also took a huge hit).

[JayCT]

Originally Posted by texan2yankee

You also were adamant UBS wasn't leaving stamford a few years ago. they did.

UBS closed their Stamford operations? Then what is this?

https://www.ubs.com/locations/united...s-llc-888.html

Last I heard they still had over 1,200 employed there. Hardly gone by any stretch. Jay

https://www.stamfordadvocate.com/bus...t-13764069.php

[texan2yankee]

Originally Posted by JayCT

UBS closed their Stamford operations? Then what is this?

https://www.ubs.com/locations/united...s-llc-888.html

Last I heard they still had over 1,200 employed there. Hardly gone by any stretch. Jay

https://www.stamfordadvocate.com/bus...t-13764069.php

jay, last I heard that UBS building sold for about 1/4 of outstanding mortgage. Is it still empty? thousands of high paying jobs were lost to connecticut.

You seem to be unable to admit reality about Connecticut's future even as tax revenues fall because people are voting with their feet.

https://www.courant.com/politics/hc-...227-story.html

[Beeker2211]

Originally Posted by texan2yankee

jay, last I heard that UBS building sold for about 1/4 of outstanding mortgage. Is it still empty? thousands of high paying jobs were lost to connecticut.

You seem to be unable to admit reality about Connecticut's future even as tax revenues fall because people are voting with their feet.

https://www.courant.com/politics/hc-...227-story.html

WWE is due to consolidate all their Stamford/CT workforce into the buildings in 2021, and rent out two floors of the corner building to un-named as of yet firms. It sounds like they are actually buying the buildings and will house most CT based corporate positions, writing and booking staff "home base" offices, a couple of studios for production, possibly a tourist-centered Hall of Fame (the current is inside Titan Tower and not open to the public unless with invite/reservation), and possibly a full sized stadium for local events. The building at least will be put to good use.