Wall Street Bonuses, the Beach, It's Different Here
A report from Long Island, where "it's different here" compared to the Jersey Shore.
From Newsday
[The new normal of real estate -- For Sale signs on every block and slipping prices -- is here to stay, at least for a little while.
The median price of a home in Nassau County was $480,000 last month -- 4 percent, or $20,000, lower than a year ago, according to data released Thursday by the Long Island Multiple Listing Service. Suffolk prices, meanwhile, remained virtually flat, with a median of $402,800, less than 1 percent above last year. Queens prices gained 5.8 percent, with a median of $490,000.]
Full article...
From Newsday
[The new normal of real estate -- For Sale signs on every block and slipping prices -- is here to stay, at least for a little while.
The median price of a home in Nassau County was $480,000 last month -- 4 percent, or $20,000, lower than a year ago, according to data released Thursday by the Long Island Multiple Listing Service. Suffolk prices, meanwhile, remained virtually flat, with a median of $402,800, less than 1 percent above last year. Queens prices gained 5.8 percent, with a median of $490,000.]
Full article...
posted by Little_Silvered at 8:38 PM
7 Comments:
as long as there are wall street bonuses, there is a bid for shore homes...better luck next year...
remember all of those people who say that prices can't go down in the ny region! well there you go. they can go down.
Still 20k down on a 800k home is nothing.
Let's hope the shore's fortunes don't depend on Wall Street bonuses. If if is, then the next WS bloodbath (you know, like the ones that happen periodically) will create havoc at the shore.
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having worked on Wall street for 32 years I left just before 9/11 ,did the real estate flipping for 3 years I could see the frothness of it all, however I do see a big differance with homes at the shore..If it can't sell at the asking price sellers just pull it off the market..If all the sellers must sell in the future,then that's a problem.. untill then I think prices will just drift for a few years...I think I'll stick to day trading for the time being
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