Friday, October 13, 2006

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...

8 Comments:

Anonymous Anonymous said...

as long as there are wall street bonuses, there is a bid for shore homes...better luck next year...

Friday, October 13, 2006 9:18:00 PM  
Anonymous rbyzell said...

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.

Saturday, October 14, 2006 9:30:00 AM  
Anonymous Anonymous said...

Still 20k down on a 800k home is nothing.

Saturday, October 14, 2006 11:52:00 AM  
Anonymous Anonymous said...

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.

Saturday, October 14, 2006 12:44:00 PM  
Blogger njcoast said...

Market Watch Oct. 6

"The New York Stock Exchange's launch of expanded electronic trading got off to a generally smooth start, traders and exchange officials said.

It remains to be seen what the impact the new system will have on the human traders on the floor. Alfred Hayward, an official at La Branche & Co., the NYSE "specialist" firm that
handles American Express, said that the human footprint would probably shrink. Indeed LaBranch has recently cut some floor staff."

My husband used to be on the floor of the exchange and when he talks to his friends who are still there they say it's like a ghost town with about 25% less people- they're all slowly being replaced by machines.

Saturday, October 14, 2006 1:54:00 PM  
Anonymous Anonymous said...

This comment has been removed by a blog administrator.

Sunday, October 15, 2006 1:56:00 AM  
Anonymous Anonymous said...

This comment has been removed by a blog administrator.

Sunday, October 15, 2006 2:50:00 AM  
Anonymous dentss said...

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

Sunday, October 15, 2006 4:45:00 PM  

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