80% of Manhattan homes are paid with cash

Discussion in 'The Howard Stern Show' started by TSSTaylor, May 19, 2014.

  1. TSSTaylor

    TSSTaylor Active Member

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  2. nserafini

    nserafini Well-Known Member

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    mo' money, mo' problems
     
  3. CrucifiedAGT

    CrucifiedAGT He's Around VIP

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    I think all things should be paid for with cash. It would drive prices down and would eliminate the poisonous concept of debt.

    Can't afford a house? Rent and let someone else take care of taxes and maintenance.
     
  4. Shortwave98

    Shortwave98 A-Number 1 Banned User

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    Mafia, Russian mafia and yakusa. Didn't you ever watch the Sopranos? Mobsters pay for everything with cash.:D
     
  5. Mlaw

    Mlaw Quite Contrarian Gold

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    Clearly the $10,000 reporting threshold for bank transactions is effective
     
  6. Mlaw

    Mlaw Quite Contrarian Gold

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    I also think the figures may be misleading, I would bet a good portion of the transactions are cash deals, but the buyer then refinances pretty soon thereafter. The original purchase getting done with private financing
     
  7. Chatsworth

    Chatsworth Well-Known Member VIP

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  8. Lance Murdock

    Lance Murdock Well-Known Member

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    Manhattan is just a very good market with small selection. If you want the home, the best way to motivate the seller to sell to you is an all cash deal. The seller doesn't have to worry about you getting a mortgage and all the hassle that comes with it and you can close fast. Most Manhattan deals require a minimum of 30% down.
     
  9. SomerSky

    SomerSky Obsessed with what I hate Banned User

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    We rent our condo from a Korean couple, they use it to shelter their money in another country, in a somewhat sure-thing of NYC real-estate....
     
  10. whatsit

    whatsit Dawg Lover VIP

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    There is a old guy in our building that warns everyone who comes in and out of the lobby that the Chinese are taking over Manhattan.
     
  11. NyMarkNy

    NyMarkNy VIP Extreme Gold

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    Im involved in NY real estate and I simply do not understand how that is possible. I always have to leverage one building or 2 to purchase another. Thats wild and there is some shady shit going on.
     
  12. NyMarkNy

    NyMarkNy VIP Extreme Gold

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    The worst part of NYC real estate? It doesnt matter whether the tenants break your windows, shit on the floors, or go 6+months without paying. THe judge will stay the evication every single time without fail as long as the tenant calls the court and promises to pay if given more time. Then you have to wait a minmum of 2 months to enact another case, rinse and repeat. Its insane.