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Old 05-11-2020, 08:04 PM
 
284 posts, read 97,232 times
Reputation: 1017

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Quote:
Originally Posted by SeventhFloor View Post
Never been but I heard Anaheim has a serious homeless tent encampment problem right by Angels Stadium, did they ever take care of that?
I spent a solid 5 days last Summer scouting cities out there. Yea, Anaheim wasn't impressive. Probably them and Santa Ana were the only places I was worried not knowing where I was, however they both were nicer than NYC by a country mile. A few homeless people hanging out under Palm trees is ok.
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Old 05-11-2020, 08:10 PM
 
Location: Confines of the 101 Precinct
23,673 posts, read 37,898,191 times
Reputation: 10309
Quote:
Originally Posted by QueensGuy72 View Post
I spent a solid 5 days last Summer scouting cities out there. Yea, Anaheim wasn't impressive. Probably them and Santa Ana were the only places I was worried not knowing where I was, however they both were nicer than NYC by a country mile. A few homeless people hanging out under Palm trees is ok.
Ok cool, time to do some Orange County research
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Old 05-11-2020, 08:29 PM
 
Location: In the heights
27,518 posts, read 26,910,938 times
Reputation: 14705
Quote:
Originally Posted by SeventhFloor View Post
Ok cool, time to do some Orange County research
Orange County as a whole leans conservative compared to Los Angeles County, but it hasn't been that solidly conservative for decades now. There are municipalities that tend to vote conservative, but the county is made up multiple municipalities with a wide degree of variation among them. Laguna Beach, for example, was well-known for its liberal, hippie-ish leanings. Irvine has a large research university which trends progressive and a large middle class and up Asian population that fits even more uneasily than most on a rigid progressive-conservative axis. Santa Ana tends to vote democratic, but is in many ways socially conservative and religious with its large Catholic, Latino population. That's sort of funny in contrast to many conservatives in Orange County who tend towards the socially liberal (fiscally conservative) side of things. I grew up around and in the area and have lots of family in the region. Most of my family were staunch Republicans and some still are--unfortunately, the party in terms of the national Republican party sort of left them to make a hodgepodge of policies by dealing with various groups, especially religious fundamentalism bits, so a lot of them have essentially turned into independent voters.

Last edited by OyCrumbler; 05-11-2020 at 09:44 PM..
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Old 05-11-2020, 09:18 PM
 
12,962 posts, read 10,807,929 times
Reputation: 8776
A few? Yes. Most? No.

Based on what was going on around here at the beginning of the outbreak, I was expecting it to be worse around here (UES) then it turned out to be.

And everything will be open within three months, maybe earlier.

Quote:
Originally Posted by QueensGuy72 View Post
Manhattan surprisingly wasn't hit as hard however that's because most of them left the city!!! Not because the island itself is able to avoid it. And they also practice the CDC guidelines much better than outer borough hoods. But don't fool ya self. If the city ever reopens, the spread will be worst in Manhattan. Rightly so.

But the city won't be open for many years. And by that time, most Manhattanites will be gone.
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Old 05-12-2020, 05:56 PM
 
1,735 posts, read 419,687 times
Reputation: 922
Commercial real estate will take a hit if working from home becomes the new norm.

https://www.google.com/amp/s/www.nyt...-home.amp.html
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Old 05-12-2020, 07:33 PM
 
332 posts, read 65,989 times
Reputation: 311
Quote:
Originally Posted by manimgarbage View Post
The correct answer is nobody knows. Real estate lags behind the market so give it some time. Sometime could less 4 months or 4years. The bottom is anybody's guess. I'd wait to see what happens 6 months after the fed quits printing money. Short term prices will drop. Long term prices will rise. Rich get richer, poor get poorer. I'm expecting a decade long depression.
The answer is no if you look at the data. Metros in general will demand high prices and laughably some sales are breaking records during this crisis. A major deal was recently done in Texas May 2020.
  • A luxury town home just recently sold for 31m in NYC.
  • Tower 333 building just sold for $400M in March Seattle
  • 1031s and sale leasebacks gunna be popular
  • Currently, foreign investors are buying luxury condos in NYC to diversify assets with cash...

When determining market value of a property, people are factoring potential cash flows and a lot of good will even if property not in use cuz contracts. In simple terms, if the current lease of an office building is Amazon and the building is up for sale, b/c property has 100% occupancy (Amazon usually leases the whole building or half) seller will jack up the price due to guaranteed cash flow.

If foreigners are showing up with $6,000,000 in cash to buy a 2 bedroom flat, every other broker/developer is going to want a $6,000,000 instant influx of capital. Basically prices stay the same or increase. I think iunno 40% of luxury homes in NYC vacant for like 5 years now sumtin like that. This trickles down all the way to the $700,000 NYC homes. Remember 3 in 10 NYC households make 6 figures. Combine that with the limited housing supply = high prices are here to stay.

Business that are over leveraged aka took on too much debt to acquire properties are semi ****ed. Govt. recently passed a bill for developers about taking loans. Iunno not my gig, but basically you have to follow a lot of rules for example if you sign up you can't raise rents for five years and some units must be affordable blah blah blah obv I switched to Multifamily now.

Real estate values bloated since a decade ago hence why 1031s popular. As of right now, if peoplewith bags of money are willing to buy up properties in the US with bags of cash then guess what prices wont fall. A lot of modelling goes into determining the value of a real estate asset, but in all honesty people literally just pick a number of what a similar property in the area sold for and roll with it.
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Old 05-12-2020, 07:46 PM
 
Location: Confines of the 101 Precinct
23,673 posts, read 37,898,191 times
Reputation: 10309
Housing prices will always go up
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Old 05-13-2020, 05:43 AM
 
Location: Florida/Tennessee
5,841 posts, read 5,249,703 times
Reputation: 4122
Some people have more money than sense.
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Old 05-13-2020, 06:03 AM
 
Location: NY
8,829 posts, read 2,419,345 times
Reputation: 5671
Quote:
Originally Posted by IForgotMyOldAccount View Post
The answer is no if you look at the data. Metros in general will demand high prices and laughably some sales are breaking records during this crisis. A major deal was recently done in Texas May 2020.
  • A luxury town home just recently sold for 31m in NYC.
  • Tower 333 building just sold for $400M in March Seattle
  • 1031s and sale leasebacks gunna be popular
  • Currently, foreign investors are buying luxury condos in NYC to diversify assets with cash...

When determining market value of a property, people are factoring potential cash flows and a lot of good will even if property not in use cuz contracts. In simple terms, if the current lease of an office building is Amazon and the building is up for sale, b/c property has 100% occupancy (Amazon usually leases the whole building or half) seller will jack up the price due to guaranteed cash flow.

If foreigners are showing up with $6,000,000 in cash to buy a 2 bedroom flat, every other broker/developer is going to want a $6,000,000 instant influx of capital. Basically prices stay the same or increase. I think iunno 40% of luxury homes in NYC vacant for like 5 years now sumtin like that. This trickles down all the way to the $700,000 NYC homes. Remember 3 in 10 NYC households make 6 figures. Combine that with the limited housing supply = high prices are here to stay.

Business that are over leveraged aka took on too much debt to acquire properties are semi ****ed. Govt. recently passed a bill for developers about taking loans. Iunno not my gig, but basically you have to follow a lot of rules for example if you sign up you can't raise rents for five years and some units must be affordable blah blah blah obv I switched to Multifamily now.

Real estate values bloated since a decade ago hence why 1031s popular. As of right now, if peoplewith bags of money are willing to buy up properties in the US with bags of cash then guess what prices wont fall. A lot of modelling goes into determining the value of a real estate asset, but in all honesty people literally just pick a number of what a similar property in the area sold for and roll with it.
Like it or hate it the following is only my opinion:
Smart move sticking with a multi family. Former property owner. Great investment. Sweat involved. Cashed in on
the investment once retired. Best move for me. Squirrels gather nuts for winter. You have to eat them eventually or they will
either rot or be stolen.......................Best wishes.
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Old 05-15-2020, 09:30 AM
 
Location: Northeast states
11,829 posts, read 9,581,849 times
Reputation: 3472
Breaking: NYC population drop below 8 million now the city has 7.6 million residents estimation.


The Richest Neighborhoods Emptied Out Most as Coronavirus Hit New York City


Hundreds of thousands of New York City residents, in particular those from the city’s wealthiest neighborhoods, left as the coronavirus pandemic hit, an analysis of multiple sources of aggregated smartphone location data has found.

Roughly 5 percent of residents — or about 420,000 people — left the city between March 1 and May 1. In the city’s very wealthiest blocks, in neighborhoods like the Upper East Side, the West Village, SoHo and Brooklyn Heights, residential population decreased by 40 percent or more, while the rest of the city saw comparably modest changes.

Relatively few residents from blocks with median household incomes of about $90,000 or less (in the 80th percentile or lower) left New York. This migration out of the city began in mid-March, and accelerated in the days after March 15, when Mayor Bill de Blasio announced that he was closing the city’s schools.

The highest-earning neighborhoods emptied first.

https://www.nytimes.com/interactive/...ronavirus.html
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