Heritage's Bloodbath at FUN

Not every month your not on a single $500 investment.

Well, OK it was 20,500 including the tax free and low interest 20K loan, not to mention the 5 year tax abatement.

Your turning over cars. they aren't sitting out in the drive way spitting out cash.

Ruben

 

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FWIW, I've never know anyone in NYC to lose money on a house, although I'm sure it must have happened. Even in the ghettos property values increase.

Considering ho many millionaires I personally know from Stocks (and many of those from tech options), you'll excuse me if I say that coins SUCK as an investment.

really...

Ruben

 

It's actually just mind boggling that these conversations even happen. It's a darn good thing that coins aren't good investment vehicles, because if your Bruce Ratner and you have $900,000,000 dollars to invest do you develop the Atlantic Yards development with a Gehry Design and the new Nets Baseball Arena, you can do that or you go out and buy every Double eagle in sight and corner the market??????


And when every other major investor catches on, look out. Those G4 SLQ's are going to cost you about $8000

So if your Ratner which would you do?

Inquiring minds want to know.

Ruben

 

well i agree to an extent. lets take the us dollar cash for you but a hedge against inflation for people from other coutnries it has appreciated by 10to 20% against a basket of currencies so it tends to get really complicated and then throw int hings like manipulation etc. in most secondary markets outside the us and to an extent westewrn europe coins tend to lose value post dealer but not post mint.

 

Ruben,

My G4 SLQs cost me very little

Besides, I think I own the majority of my crappy SLQs for an average of about $3.75 each, melt is about $2.00 or so, so it's not the end of the world.

Figure I have, I dunno, 100 that are junk.. means that melt is worth $200 and I own them for $375.

$175 I can deal with, that's cheaper than a night at, umm.. nevermind

 

I think that the OP is probably right, although I wouldn't use the word "crash".

That's funny.

 

yes it is unfortunately

clinching evidence case closed but i would like to see both pics in a diff thread

i am not anybody but its crazy to try corner the market

 

If every comerical real estate millionaire in NYC invests all there liquid capital resources into the coin market instead of Sky Scrappers, they won't need to corner the market. They'll flood the market with cash.

Atlantic Yards. 900, 0000, 0000 dollar investment by just Bruce Ratner on a single project.

Care to get Trump, Newmark Inc, Helmsey Spear, Larry Silverstein, Tischman, Bloomberg, Kushner, Rudin, et al to dump their real estate investments and buy Coins? It would be the end of the coin market as you know it.

36 Billion dollars in Real Estate deals alone was made in Manhattan in 2006. Think that could make a dent in the coin market? And that doesn't include the HUGE building boom in Brooklyn with 12 new sky scrapers planned or built in the last 3 years, not including the Atlantic Yards, or the previously build Metro Tech.


And this wouldn't even include Chicago and San Fransisco...

Ruben

 

12 Graded as Mint State FH exist. The one at FUN was one of the better strikes to boot. Going by normal standards perhaps 3 real FH coins exist.

64FH = 3 PCGS and 5 NGC, at least 3 of those are duplicates, I think Jay Cline feels that 3 or 4 exist.

1918/7-S = Rarest SLQ

 

Well, you should stay up with the times.

Even in NYC the prices of homes (houses, condos and co-ops) are going down.

 

Last I heard you don't lose money unless you sell, not that housing prices have gone down in Brooklyn. If anything, they went up. One thing did happen. coops converted to apartments in Clinton Hill, Cobble Hill and Fort Green. Big deal. Nothing more that I'd like to see than them go down temporarly before they go back UP.

Ruben

 

my poor cousin will have to sell his mansion in the Hamptons and his coop in Murry Hill.

Oh...no he is not. Seems Newmaks principles aren't bankrupt yet and the Lincoln Building still has hot and cold running water...

Ruben

 

BTW - for what its worth, check this out

http://www.urbandigs.com/current_events/

It argues your case and not mine, but its still good info.

Ruben

 

mrbrklyn, what the latest on the status of Governors Island?
Last I heard no one bought it. Initial asking price I think was $500,000,000.

Do I recall correctly that it was sold to the city of New York for $1.

Why am I interested?
I was born there back when it was Fort Jay.

 

Honestly I don't know. In my mind the city doesn't have a clue what to do with it which is a pitty. Turning it into a park, IMO, is insane.

But then again, 10 years after 9-11 and we still have a big fat ugly hole in the ground.


Ruben

 

Well, it's Federal property unless they sold it to the city.
Part of the problem is that quite a few of the buildings on the north part of the island are on the US or NY Historical Register.
That means the they can't be destroyed or have their exterior remodeled.

Interesting place to visit.
Three forts from various time periods.
The chapel is of interest as are a number of the other buildings.
Unfortunately I don't think you are allowed inside any of them.
The Feds used to run a tour once a month during the summer.
If they still do, it's worth a look.

 

I am glad I got out of the real estate business right at the very tippy top of the market back in late 2005. Let us just say the ride was good, and I enjoyed it - and still am

 

For the love of GOD MAN!! Show me ANY cointalk member who will be investing in NYC real estate in their life time! I mean really, what are you trying to prove? That the ultra, super rich, top 1% of the country can make fortunes again and again with all the money they have to play with? Wow. So insightful. How does this advice help anyone here?

Some here may be able to buy an apartment building somewhere and make a nice monthly return. Won't dispute that. But it's very easy to talk about on a forum. Doing it and then dealing with the hassles, tenants and taxes is another story.

The super rich will have rich tenants in NY that they don't have to worry about, of course. That really doesn't do anything for the average guy.

 

Vess1: Well said!:bow::bow: