Gothamist: Black(ish) Monday '08 Begins with Plummeting Stocks

NannyState

Mon, 15 Sep 2008 18:43:06 -0500

Real estate values are the ultimate lagging indicator on the downside. we will all be living in cardboard boxes before the greedy landlords and idiot small-time real estate barons finally relent. Remember the early nineties when they were sitting on empty units rather than cut the rents.

matty

Mon, 15 Sep 2008 15:26:55 -0500

I re-read my post about rents and realized it was mostly incoherent. All I was saying is that people who wait for lower rents are part of the demand side who in turn push up rent prices. Only by not renting in nyc are you not part of the problem. I guess that makes more sense. I also forgot how I got on this topic... Anyway Dow is down 350 and falling...

JacqueMehoff

Mon, 15 Sep 2008 14:44:49 -0500

"Heat" and what he says next with the bank manager was cool, too. Best shootout scene ever. if you look closely I would be the lady hiding behind the charcoal briquettes outside the supermarket.

Steven

Mon, 15 Sep 2008 14:44:00 -0500

All under Bush watch. What a joke this country is in now. Congress and Bush are all asleep. This is what happens when you have old farts running the country.

SikBug

Mon, 15 Sep 2008 14:30:08 -0500

"We want to hurt no one. We're here for the bank's money, not your money. Your money is insured by the federal government, you're not gonna lose a dime. Think of your families, don't risk your life. Don't try and be a hero." What movie is that from? It's bugging me...

JacqueMehoff

Mon, 15 Sep 2008 14:16:11 -0500

I wonder did the FDIC ever reimbursed any account holders? Because every time something happens, they get a fed flunkie to say, your money is insured, don't worry.

breaknight

Mon, 15 Sep 2008 14:14:48 -0500

All Right! Now maybe I'll be able to spend less than 75% of my income on an apt. in Manhattan. Plus there'll be much fewer douchebags at the bars.

babyhitler

Mon, 15 Sep 2008 14:10:31 -0500

Sure it's FDIC insured but there is a catch to that as the FDIC says they will return your money ASAP. That sounds good but it's bad cause there is no time table to return your money and you'll be held hostage by the FDIC cause they'll get around to it when they get around to it. It's like trying to recover 50 bucks from your brother. He's gonna pay you back but when? So if you have a lot of money and need it right away and Wamu goes under you are fucked cause you will have to go through loopholes to recover your money.

JacqueMehoff

Mon, 15 Sep 2008 13:55:49 -0500

We want to hurt no one. We're here for the bank's money, not your money. Your money is insured by the federal government, you're not gonna lose a dime. Think of your families, don't risk your life. Don't try and be a hero.

babyhitler

Mon, 15 Sep 2008 13:09:36 -0500

#14 - I'd say take money out of Wamu if you've got over 30 grand there.

gossipgirl

Mon, 15 Sep 2008 12:50:18 -0500

Should I take my money out of WaMu???

mocanlagunas

Mon, 15 Sep 2008 12:10:33 -0500

That's not Merrill Lynch's bull down there. I mean, it doesn't belong to ML...

sinisterteashop

Mon, 15 Sep 2008 12:09:25 -0500

I wonder if the Merrill Lynch bull statue down on lower Broadway will be on the sale block. That would look nice in someone's backyard. Bank of America owns it now.

JacqueMehoff

Mon, 15 Sep 2008 12:00:44 -0500

sorry I see BH also posted the dow should be corrected back to 10000.

drewo

Mon, 15 Sep 2008 11:50:35 -0500

I wonder if the Merrill Lynch bull statue down on lower Broadway will be on the sale block. That would look nice in someone's backyard.

matty

Mon, 15 Sep 2008 11:48:37 -0500

Also rents will dip but because YOU can't afford them. I always wondered about people who think that lowering rents have nothing to do with demand - and that they themselves are that demand. Rents will dip but you will be back at home in Ohio or New Jersey because you don't have a job.

babyhitler

Mon, 15 Sep 2008 11:46:40 -0500

It's ONLY down 250 right now which is pretty good considering the circumstances. The lower rents are gonna drive more dumbass midwestern hipsters here like a pack of wild hyenas. Eeconomic depression leads to emo depression and they will swarm like locusts here.

Billiamsburg

Mon, 15 Sep 2008 11:45:09 -0500

But we should all vote for McCain and Palin right? 4 more years?

JacqueMehoff

Mon, 15 Sep 2008 11:43:11 -0500

I'd start worrying when the dow dips below 10,000. those were good times or bad times depending on how one looks at it. but what do I know except 10,000 sounds like a nice figure.

matty

Mon, 15 Sep 2008 11:41:26 -0500

This had to happen. I'm no economist but this is a market correction. I'm glad Lehman wasn't bailed out by the feds. 610 Billion in bad debts would sink anyone and it makes me wonder what on earth they were thinking at the time. They bet the farm and they lost it.

mocanlagunas

Mon, 15 Sep 2008 11:38:13 -0500

"lower rents" lol....

jibbly

Mon, 15 Sep 2008 11:27:27 -0500

I like how your chart from NYTimes keeps changing as the markets change. Either way we're all boned, aren't we?

edEx

Mon, 15 Sep 2008 11:25:24 -0500

OBL is sipping tea in a cave smiling right now.

zodak

Mon, 15 Sep 2008 11:22:27 -0500

i blame the ME'ers.