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This Week in Comments

Peace Palace for sale for $45 million
Five years and $40 million, plus [the] worst market ever — keep on meditating.

14 West 14th Street goes cash-only
For whatever reason, they don’t want the existing down payments to close. Whether that means they can run away with down payments due to lack of financing with no contingency, or whether it just means they want a reason to give back [down payments] without getting sued remains to be seen. Shenanigans!

Core grows rental biz
Wow that’s sad. Rentals? Sales really must be bad.

$22M Hamptons home gets $1M price chop
Where is she getting her weed? “A great deal?” In what reality is this [woman] living? These prices are insane, as are the would-be buyers.

What are you doing to brush up on your skills in this market, like heading back to school?
1. More vacations and time with the family. Wait for the market to fall further. Once Lehman’s assets crush the market wait another year and then get back to work raising money and buying. It’s way too early to start buying now.
2. Time to re-tool — back to school

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Banks make it nearly impossible to obtain $8,000 tax credit
1. What kind of crazy world is it coming to when the only people who can get a loan are people who might actually be able to pay it back? How does the government expect the banks to be able to make any money that way? Haven’t we learned anything?
2. I’m really very disappointed to say the least, in the banks, government and pretty much all those involved in making these stupid restraints on who can receive the tax credit. Don’t get me wrong, from a business point of view the banks aren’t trying to do anything other than cover their own [butts], but they should have been doing that years ago, and not writing subprime mortgages to people they knew could not pay them back. And now, at a time of need… the government restricts this credit to certain income families?

Time to raise residential prices? Depends on whom you ask
Who in their right mind would suggest raising prices? Prices are just getting right.