Jonathan Miller: Monthly Absorption Rates

nice! we up for a great show. those of us that have been in the sidelines for long are finally being rewarded, it's a really nice feeling :-)

so it's not all gloom and doom. Condos under $1 million seem to be holding up the best.

Miller on condos: "It's also important to mention that this data does not include shadow inventory which, at the moment, is believed to be higher than existing condo inventory—so condos in the charts here are definitely underrepresented."

i noticed that. actually the unbelievable thing is not how bad things look now for NYC RE but how resilient it was. how long it too it to crash. this RE mkt was full of hard core believers, very loyal to the idea of RE as a source of wealth. i know very smart people that bought at the very peak, it was impossible to reason with them about where prices were going. it's really fulfilling cause for some time they looked to me as if i were a martian.

Well, the market is fairing much better than all (me incuded)of us have been reporting. Not that it's good but much better than the 'hear say' presented in various gloom and doom posts.

I'm not sure I agree with your police work, there, falco.

The key here is that he is using 12-month moving data - which includes pre-september 08 numbers

thats right iamlooking

DLR, I think those are dealer plates

UD, Ford's the only one with dealer plates these days. But you nailed it!!!

Oh for Pete's sake, he's fleeing the interview! He's fleeing the interview!

re: "very smart people who bought at the peak" I also know somw
very smart people" who did not buy at the trough, when they should have and left what would still amount to millions of $'s of appreciation , not to mention years of enjoyment in their home, on the table.

Proof that it's tough to time the market.

"I also know somw very smart people" who did not buy at the trough, when they should have and left what would still amount to millions of $'s of appreciation , not to mention years of enjoyment in their home, on the table."

Only if they sold before the market crashed.... now, several years worth of buyers simply lost money... and the number of losers is increasing daily.

> Proof that it's tough to time the market.

HORRIBLE logic.

No, just proof that some people make illogical decisions. Its not hard to drive a car, but a bunch of idiots crashing doesn't prove otherwise.

mike yanagita?