"''It's the beginnings of the new reality,'' said Pamela Liebman, CEO of The Corcoran Group, ''that 2007 and 2008 were not the norm, but the peak.''"

Need I say more?
http://www.nytimes.com/aponline/2009/07/02/business/AP-US-Manhattan-Housing.html?_r=1

Yes West67th this is playing out exactly a you said it would. I got my popcorn and am enjoying every minute. LOL

sweet dreamz Luchias.... I gotz me a TUB of popcorn.... maybe do some mini snickers... why do they taste so good!?

LMAO W67th Maybe I'll trade my bag of popcorn for a TUB too. The 2nd quarter is traditionally the busiest quarter for real estate and even with that in their favor, they STILL couldn't keep the inevitable from happening. The diehard NYC Real Estate Bulls reaction is quite entertaining. They see facts but refuse to acknowledge them, it's like having George W back. I'll have to get some of those mini snickers to go with my popcorn too b/c it looks like this 'movie' is gonna be a double feature :-)

i love the thread about wall st bonuses coming back. Yeah they are coming back for about 1/4 as many people as before. Nice try bulls.

unemployment at 9.5%... who laughed when I said 10% was baked in shrimpie/tech_guy/LICC/petridsih/malraux/ericho75..... anyone, anyone... we're gonna touch 11% b/f we are through... just a slow grind till then w/ lots of little balance sheet problems for banks on the way to BOTTOM in NYC RE.. ... yes, more popcorn please...

Yes, more popcorn but, don't pay with you credit card because that's another big shoe that's about to drop. Wait until the jobless rate ticks up another point or two and another 3 to 4 months pass. First they pay the minimum, then they miss a payment or two, then universal defalt kicks and it's like owing money to the mob and, quicker than you can say 'teases rate' they stop opening the envelopes. The bills and interest build up in sealed envelopes while Americans become too afraid to look. They dream about going bankrupt but, such choices are not possible. This will lead to the second banking crisis. Keep those money presses warm! Pass me one of those mini snickers...damn those things are good.

couldnt agree more, i have long said on this site i thought the bottom for prices would be next spring, im going to have to change my tune now and say spring 2011. I simply see too many delusionals, not only on this site but elsewhere. Its coming BACK!!!!!! hurry! yes its coming back ladies and gentleman.................................................in 2017

This topic is offensive and unnecessary.

Kleenex, your being offended offends me. Go suck on your equity loss on your 'home'. Peace out

Yes I'm offended as well, by the 'weeping' over a bubble that priced so many out bursting.

"Yes, more popcorn but, don't pay with you credit card because that's another big shoe that's about to drop. Wait until the jobless rate ticks up another point or two and another 3 to 4 months pass. First they pay the minimum, then they miss a payment or two, then universal defalt kicks and it's like owing money to the mob and, quicker than you can say 'teases rate' they stop opening the envelopes. The bills and interest build up in sealed envelopes while Americans become too afraid to look. They dream about going bankrupt but, such choices are not possible. This will lead to the second banking crisis. Keep those money presses warm! Pass me one of those mini snickers...damn those things are good."

I didn't even consider the credit card aspect of this mess. Thanks for pointing it out falcogold1, here's your mini snickers :)

WeepingTissues: On behalf of the more mature and evolved StreetEasy members, I would like to apologize to you for this offensive thread.

Now show us your t*ts...

I have an idea. I think we bears should go by a new name - affordability bulls.

How about simply, AffordaBulls?

This continues to be a poor choice of discussion topics

I agree, Weeping. It is demeaning to people's dignity.

Now how about showing us those headlights?

I'm waiting...

The stats are bad and I too am a bear. But the bears (er, affordabulls) here have no business quoting Pam Liebman for authority-that's crazy-she's a BROKER. She's just talking her book-she wants sellers to get realistic to foster transactions so SHE makes money.

She's not making such a crazy claim at -30% if the Q1 reports already show a high 20%s decline. Clearly the bid is lower if all the activity in the last few months barely dented the mountain of inventory by 5%.

whats the deal with tissue face?

Just another bear hater. So soon everyone forgets the 2007 jeers of all the 2005 genius buyers. Bears are so tasteless, blah blah.

"whats the deal with tissue face?"

She's an attention whore, Columbia, like most chicks. She pretends to be offended by the topic so we'll ask her about her boobs. So, I did...

Rhino, if her "claim" coincides with the truth, it's a coincidence.

She may have an interest in motivating sellers...but it jives with everything I have seen. Things are not going into contract until the ask is down 30% from peak. Even then, I cannot be sure what they actually went into contract at.

look at this brilliant discussion started by the one and only

It would be a lot more brilliant, pigs & shrimp, if weeping would show us her milkers...