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Thursday, February 19, 2009

02/19/09 Someone Really Has To Censor Chris Fountain. They Is Destroying The Real Estate Market. No Wonder The Greenwich Post Got Rid Of Him !!!!!



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Obviously This Train Wreak Of A Market Is Because Of The Evil For What It's Worth Blog .....

Greenwich, Connecticut, Home Sales Plunge 84 Percent in January
Bloomberg


Greenwich, Connecticut home sales plunged 84 percent in January from a year earlier as Wall Street losses mounted and financial companies cut jobs, said John Cooke, a broker with Prudential Connecticut Realty.

Seven Greenwich homes sold in January compared with 44 the same month of 2008, according to Prudential data. The average price climbed 5 percent to $3.4 million, driven by the sale of one $10 million property.

“Buyers are hesitant because of the economy in general,” Cooke said. “They don’t think the bottom has happened yet.”

The town of about 61,000 people lies an hour’s drive northeast of Manhattan and is known as the nation’s hedge fund capital because more than 100 such companies are based there. The median home price in Greenwich dropped the most in three decades last year as demand from financiers slumped.

January sales included one house sold for more than $5 million, compared with six in that price range in the same period in 2008. Two properties sold for between $3 million and $4 million; two for $2 million to $3 million; one for $1 million to $1.5 million; and one for between $400,000 and $600,000.

Property sales in Greenwich are closely linked to the fortunes of Wall Street and the financial industry, Cooke said.

At least half of the town’s sales are to buyers who work in financial services, he said.

PLEASE SEE:

Many of my colleagues who berate me for my “negativism” will, if pressed even a little bit, readily admit that the Greenwich housing market is in the toilet, and why shouldn’t they? That’s the truth. And here’s another truth: for at ...
MORE INFO:

Thanks to a reader I was reminded to check out “Seeking Alpha” and this article by a James Quinn. Fun bedtime reading and if you want to stay up tonight, take a gander at this chart from Shiller. Bummer......
DID CHRIS FOUNTAIN'S BLOG POSTS CAUSE REGIS A MILLION Buck-A-ROOS?
Or As Regis Might Say:
"Come on people, you know what I am Talking about .... Dough. Moolah, Greenbacks, C-Notes, Bacon, Bread ..... I Am Taling About Cold Hard Cash. That I Am Not Going To Get When I Finially Sell My House. I Keep Asking My Realator Salesperson Why My House Is Losing SOOOOO Much Money And All Keep Hearing About Is Some Darn Blogger Named Chris Fountain ...... Who The Heck Is Chris Fountain And Why Is He Costing Me So Much Money !!!!!! I Don't Understand These Bloggers...... Why Are They Going Around And destroying Peoples Houses !!!!! There Ought To Be A Law Against This Crap !!!!!"

And is still going down. Just in case you were wondering.
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