May 9, 2017

Setting A Tone For The Market

A report from the Kansas City Star. “Where dogs have long been part of the downtown scene in New York and many other big cities, they are relative newcomers, in large numbers anyway, to Kansas City’s urban center. Several downtown luxury apartments are now advertised as ‘pet friendly’ and offer amenities such as grooming, dog walking, play areas and even dog washing stations at a premium price.”

“Dan Thompson, owner of the Leawood-based dog day care, grooming and boarding business Dog Pawz leased a 12,000-square-foot building for his second location. The number of downtown dogs is growing with every new housing project, and he’s feeling good about the future. ‘We hope the bubble does not burst,’ he said.”

The Union Tribune in California. “Because REITs are publicly traded they offer a window into the San Diego rental market. Despite a good start to the year for many apartment-focused REITs, Aimco CEO Terry Considine said an increase in more apartments coming on the market could begin to affect the bottom line. ‘The supply of new apartments continues to increase and there are many markets where new lease rent increases have slowed or turned negative,’ he said during a conference call with investors.”

“Dan Castro, founder of New Jersey-based Robust Advisors, has worked for more than 25 years with REITs. He said the first thing he looks at is how the trusts are financed and then examines their earnings. Another important factor, he said, was how broad their portfolio is. Most of the REITs operating in San Diego have properties all over the United States. ‘If somebody is 60 percent in Southern California, if that market goes down, you’ve got a problem because you’re not diversified,’ Castro said.”

The Longview News-Journal in Texas. “Average rents for Longview apartments have fallen over the past year. Judy Harris has worked more than 30 years in the apartment management industry. She said keeping apartment units filled is not about reducing rental rates, but increasing customer service. ‘If you lower your rent, how will you raise them back up?’ she said. ‘You are setting a tone for the market when you do that.’”

“Like Longview, rents decreased year-over-year in Midland, Wichita Falls and Laredo. In Houston, rents were down 2.7 percent in the past year. Instead of dropping rent or offering free or $99 move-in specials, Harris instead offers discounts throughout a renter’s lease, she said. It’s a tool she says helps residents endure tough economic times without putting her apartment complex in financial hole. ‘We are very much a service industry because they have built so many apartment complexes,’ she added. ‘If they don’t feel like they’re home or they’re happy here, they will go somewhere else where they can be.’”

The Real Deal on New York. “Yikes! Not only did the city’s luxury residential market slog through the weakest start to May in six years, but the priciest unit took a $34 million haircut from its original asking price. The market saw 22 contracts signed at $4 million and above in the week of May 1 through May 7, which was the weakest start to May since 2011, according to Olshan Realty’s weekly market report.”

“But even more striking is the fact that the week’s most expensive contract, a duplex at the Time Warner Center asking $16 million, reduced its price by nearly 70 percent from the $50 million it had been asking when it hit the market in October 2013. The median asking price for a luxury home for the week was $6.65 million, with an average discount of 20 percent from the original ask. Luxury homes spent an average of 475 days on the market.”

The Miami Herald in Florida. “According to a new study by EWM Realty International, sellers lowered prices to propel sales of high-end condos in Miami-Dade in March 2017. Ninety-two condos costing over $1 million were sold that month — a 31 percent increase over March 2016. But only two of those units sold at full price. The median sales price of luxury condos in March was $1.47 million, and the average discount was almost 20 percent off the asking price.”

“Despite the increase in sales, though, Miami still has a luxury-home glut. According to data from the Southeast Florida Multiple Listing Service (MLS), 4,467 high-end single-family homes and condos were for sale on March 31 — a 124 percent increase over the same day in 2013, when there were 1, 996 listings. ‘There are more properties on the luxury market right now than we’ve ever had in history,’ said EWM president Ron Shuffield, who conducted the study. ‘When you have a stockpile of four years’ worth of supply of luxury condos, that’s too much.’”

“Real estate analyst Jack McCabe says he believes it will take some time for the current inventory to go down. ‘How many multimillionaires could there possibly be in the world, and how many of them haven’t bought in South Florida yet?’ McCabe said. ‘As new buildings are finished and hit the market over the next 18-24 months, the increase in inventory is going to surge. Already, you drive by these huge condo buildings at night and there are only 12 units out of 100 that have the lights on.’”

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Comment by Ben Jones
2017-05-09 10:24:39

‘If somebody is 60 percent in Southern California, if that market goes down, you’ve got a problem because you’re not diversified’

How the mighty have fallen.

Comment by Senior Housing Analyst
2017-05-09 10:28:20

Newton, NH Housing Prices Crater 11% YOY

Comment by Blue Skye
2017-05-09 11:29:16

“even dog washing stations at a premium price”

I worked for a first class veterinarian when I was in HS and did my share of dog washing. The set up was a bathtub with a spray hose attached to the shower head. How much is a dog washing station worth?

Comment by In Colorado
2017-05-09 12:02:26

I would just wash my German Shepherd (who died two weeks ago at the age of 12.5) in the shower.

Perhaps the biggest allure of a dedicated washing station is that you don’t have to clean the bathroom after the bath is done. Wolf would shed like crazy during his bath, and would shake repeatedly, wetting everything, while I dried him off with a pile of old towels.

Anyway, while that would be a nice convenience, I wouldn’t pay a whole lot for it.

Comment by Blue Skye
2017-05-09 12:48:58

I had a Shepard when I was a teen and on for 16 years. Best Companion Dog ever.

Comment by In Colorado
2017-05-09 13:19:50

That he lived to 16 was exceptional, as the average is about 10 years. They are definitely exceptional dogs. I will miss him.

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Comment by scdave
2017-05-09 15:45:30

Sorry to hear about your Buddy Colorado.

Comment by Tarara Boomdea
2017-05-09 17:03:28

Me, too. So sorry.

Comment by Raymond K Hessel
2017-05-09 17:28:21

I have a rescue mutt. The kind that comes to mind when you say “dawg.”

Dumb, but we love him dearly. He was a puppy mill rescue (those bastards deserve the death penalty) and whatever else I’ve done wrong in this life, I’ve given this damaged little guy a forever home where he is adored and gets all the love, attention, walks, a mischievous cat to frolic with, and hikes & camping trips in the beautiful Colorado mountains that he could possibly desire. The bond between him and my daughters is one of those things that makes me realize how many wonderful things there are in God’s creation.

Comment by Albuquerquedan
2017-05-09 19:43:22

Rescue dogs are the best, I have pulled a number from various reservations.

Comment by Bradford99
2017-05-10 06:40:13

Alberquerque Dan and Raymond kessell ageee on something. It truly means that chaos is afoot.

Comment by Taxpayers
2017-05-09 16:23:18

Don’t wait get another dog

Comment by Ol'Bubba
2017-05-10 07:42:39

With all due respect, do wait before you get another dog. You need time to grieve. Getting a new dog too soon is unfair to your departed dog, your next dog, and yourself.

Trust me on this one.

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Comment by new attitude
2017-05-09 13:30:23

lots of our car washes added dog wash stations.

Comment by Ben Jones
2017-05-09 13:35:02

It’s interesting to watch these trends like expanding pet acceptance spread across markets. If you read the Kansas City article, it sounds pretty nasty.

Comment by Race Bannon
2017-05-09 13:45:17

We have a truck wash at the shop. On Saturdays I load up the dog in the bed and head down there and run them both through it. Of course I shut the chemicals off but the dog loves it.

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Comment by Puggs
2017-05-09 14:37:09


Snowflake kids not so much.

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Comment by Justme
2017-05-09 11:55:37

>>Where dogs have long been part of the downtown scene in New York and many other big cities,

Women now have have dogs instead of husbands, and husbands are treated like dogs.

Comment by In Colorado
2017-05-09 12:05:27

About 70% of all men under the age of 35 are unmarried. Apparently, the young pups are MGTOW, even if they don’t call themselves that.

Comment by Blue Skye
2017-05-09 12:50:52

Maybe it’s because about 70% of their fathers went through a nasty divorce.

Comment by scdave
2017-05-09 15:50:31

Or they watched a lot of their friends fathers go through it

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Comment by SLynsns
2017-05-10 06:17:20

Sometimes husbands act like dogs. Or not enough like dogs. Whatever.

Comment by rms
2017-05-10 06:38:21

“You know, women call men dogs. That’s to suggest we’re somehow untrustworthy or disloyal. But a dog is anything but. And if men are dogs, what the hell does that make women? You’ve ever seen a bitch in heat? She will grind herself across the grass to try and get at that itch. And if she can find a way to sneak out of the backyard, any dog will do.” —Mayor Hostetler

Comment by SLynsns
2017-05-10 07:10:35

I’m not complaining about dog qualities. Some people like a partner they can lead around and some partners don’t mind being led and told what to do. It’s not necessarily a bad thing (but a male dog doesn’t need to be in heat to hump out a greeting or mount…anything).

Don’t worry. My partner gets some off-leash time, but in a fenced-in yard.

Does anyone else feel the comments are more off-housing-topic today than usual?

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Comment by Casa$Looc
2017-05-09 12:00:10

Starting to sound and feel a lot like Summer 2007…..

Comment by rms
2017-05-09 19:41:12

Indeed. I am seeing restaurants close too, and if there’s one thing people around here enjoy it is eating.

Comment by Casa$Loco
2017-05-09 12:04:27

I think it was Miami that started to crater first in 2007 or was it Las Vegas? Could have been Phoenix, or San Diego too! I just remember after those first markets started to fallthe mindset changed from housing prices have no where to go but UP; To housing prices have no where to go but DOWN. And once the dominoes started to fall, it was on like Donkey Kong!!!!!

Comment by Justme
2017-05-09 12:34:00

This time around it may be Toronto and/or Vancouver that mark the beginning of the end.

Comment by Albuquerquedan
2017-05-09 14:38:12

I agree along with Australia and the London area.

Comment by Carl Morris
2017-05-09 14:49:13

What do all those places have in common?

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Comment by Albuquerquedan
2017-05-09 15:07:35

Besides being Anglo Saxon English speaking areas?

Comment by Young Deezy
2017-05-10 07:58:08

>English Speaking

pick one

Comment by oxide
2017-05-10 07:58:53

Ben has been posting articles from Dubai and Lagos and Outer Mongolia too. You don’t learn much about these places in Plato-to-NATO 101.

Comment by Albuquerquedan
2017-05-09 14:51:58

Why it is not China, this shows the assets of the corporations that hold most of the debt in China and how much lower Chinese debt is than Japanese debt in particular but also the US. When China reaches the Japanese levels than an implosion is very possible but even if it would have stayed on the same course it was on it would have been about eight years. Now, it seems to be altering the course and reducing GDP growth that is too fueled by debt, best graph I have ever found making the points I have been making for years on this blog:

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Comment by Albuquerquedan
2017-05-09 14:57:04

Just looking at pure government debt the US is four to five times China. Ignoring assets when figuring debt just seems absurd to me.

Comment by Albuquerquedan
Comment by Carl Morris
2017-05-09 15:11:14

I wasn’t thinking China. I was just thinking how I associate them all culturally with London, and it made me wonder if they were all associated financially with London’s banking system.

Comment by Albuquerquedan
2017-05-09 15:13:05

I think so, that is why some call it the Anglo Saxon disease, the whole tendency to go deep in debt.

Comment by Albuquerquedan
2017-05-09 15:16:56

We seem to have learned nothing since 2008:

Comment by Ben Jones
2017-05-09 15:18:26

Iron ore says U Wong.

Comment by Blue Skye
2017-05-09 15:31:13

… some call it the Anglo Saxon disease, the whole tendency to go deep in debt.

Now it’s the China Syndrome. Biggest pyramid of debt in the world.

Comment by Albuquerquedan
2017-05-09 15:31:14

Iron ore is saying that China is purposely slowing its economy down from the 6.9% growth rate in the first quarter. a lower price for imported iron ore is good for the Chinese steel mills which hold a major portion of that corporate debt in China. Better profits make debt servicing far easier, making an implosion less and not more likely. Significantly lower steel prices would be bad but I have not heard of any softening in prices of the same magnitude as the lower import prices.

Comment by Albuquerquedan
2017-05-09 15:41:20

My link shows that it is not true, sorry unless you support your assertions with links, I no longer believe them. As far as steel and Ben’s point:

Comment by Ben Jones
2017-05-09 15:45:02
Comment by Albuquerquedan
2017-05-09 15:49:06

Ben, I said steel not iron ore and I said that the decline in iron ore was good for the profits of the steel companies since steel has come off less than half the amount you just stated, so just how am I wrong?

Comment by Blue Skye
2017-05-09 16:00:29

“China is purposely slowing its economy down” for “a lower price for imported iron ore”

Unlikely in the extreme. This illogical meme is always humorous.

However, a blind monkey can be on the right track by pure accident. China has increased domestic production in response to lower prices. Brilliant!

Comment by Blue Skye
2017-05-09 12:56:19

I think the really big sucking sound is coming from the other side of the world.

Comment by Ben Jones
2017-05-09 14:07:01

‘There are more properties on the luxury market right now than we’ve ever had in history,’ said EWM president Ron Shuffield, who conducted the study. ‘When you have a stockpile of four years’ worth of supply of luxury condos, that’s too much.’

If you go $5 million and up, it’s almost 20 years. What isn’t reported much is the price per square foot is significantly higher than 2005, IIRC around 40% higher. Or it was before the crash. One would think a 70% haircut might tempt the media to use the B word, but no sign yet.

Comment by Avg Joe
2017-05-09 14:20:47

When the checks for the REIC advertisements start to bounce, that’s when you’ll see the B-word.

Comment by Ben Jones
2017-05-09 14:36:35

‘For years, business practices by a select few retail owners have been driving asking rents sky-high on key New York City retail corridors. These machinations, while completely legal, have masked the actual net effective rents in some of the most coveted retail locations.’

‘But now, the changing market is leaving buildings unsold and vacancies increasing.’

‘Luxury retail tenants leased the reconfigured stores for thousands of dollars per square foot, and with the new deal, the developers could refinance the property for a cash infusion. Without selling holdings, they could make roughly the same amount of money as landlords who flip properties in the world’s most expensive shopping districts.’

‘As the market rose, the landlords pushed for rents far higher than what the current occupants were paying. Asking rents nearly doubled in New York between 2012 and 2014. The discrepancy was even greater along Broadway in SoHo and along stretches of Fifth and Madison avenues.’

“In the High Street areas, we have been in a frothy market,” Adelaide Polsinelli of Eastern Consolidated said. “You had to read the tea leaves, because there is no place to really vet out [what] the actual rent [is].”

‘In other cases, in exchange for a new or longer lease, owners may give free rent, swap locations within their portfolios or even provide additional locations in secondary corridors. All these machinations bridge the gap between the asking rent and what tenants can really afford to pay.’

“When a retailer needs money to run their business they can sell their receivables at a discount,” Polsinelli said. “Some owners have applied this to enable their tenants to get to the point where they can afford the market rent.”

‘All of these factors are inflating asking rents beyond reality, as the effective price these tenants pay is rarely made public. “You can’t value something on asking rents,” Polsinelli said. “It’s not just the taking rent but what went with it. It’s not for the faint of heart.”

‘As the music has stopped, along with rising retail rents, the market is going to face adjustments. The real question is: How many keys will get handed over to lenders because they will not allow a lease to be signed with a lower net effective rent?’

CRE prices in NYC doubled in two years.

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Comment by Patrick
2017-05-09 14:55:34


I think Toronto has an unrealized market adjustment in their rents.

Anything (up to now) built before 1991 is under rent controls (now everything is).

Average rent in 1991 was about $300 and never had more than a 3% permitted rent increase (unless approved).

The government has a rent registry with base 1991 rents.

That $300 average is now more than $1,800 which is almost three times the allowable rent increase allowed since 1991.

The government can force the landlords to rebate their overcharges for the last 36 years !!! Plus interest !!!

Wonder what that would (will) do to the rental market in Toronto.

Comment by Blue Skye
2017-05-09 14:59:13

Real prices doubled, or was it a stated income CRE scam to get more loans?

Comment by Blue Skye
2017-05-09 15:33:14

Patrick, isn’t this an incentive to build new rentals?

Comment by Patrick
2017-05-10 15:07:30

Blue Skye

The Cadilac Fairview flip did the loan scam in even before 1991 I think. Financing a bigger loan does not allow a rent increase unless the loan is for improvements and it has to be approved by rent review people.

An incentive? Construction of new apartments is almost nil, but yes, it could encourage new apartments because the first rent is market priced. But only by the guidelines after that.

And now, if you want to get the tenant out the new rules will require a payment be made to the tenant !! And you cannot force them out by having family replace them anymore.

Comment by junior_kai
2017-05-09 15:22:43

San Diego was the first up after Greenspan cut rates post 9/11/2001, and the first to top - Rancho Santa Fe topped in fall of 2003 on a per square foot basis (inventory grew at the same time), but other parts of San Diego were still “hot” into early 2005 (think North Park, etc.). Phoenix went from something like 5K homes for sale to 45K homes for sale around 2005 I believe. Off the top of my head I cant remember the increase in inventory in San Diego in 2004-5, but it was substantial - probably an increase of about 3-5x. More inventory = lower prices.

Right now IMO we are in 2 echo bubbles - stocks and housing. Both sport absurd valuations and are intertwined. I believe housing has already topped (residential and especially commercial RE) and we’re just waiting for the point of recognition to hit the stock market.

Comment by Ben Jones
2017-05-09 15:32:22

First crack in CA was Sacramento new shacks. First cities down were Palm Springs/Palm Desert, then San Diego.

Comment by Young Deezy
2017-05-10 08:01:58

They’re busy building like crazy in Sac and the surrounding suburbs again. Grossly overpriced crap shacks being sold to iffy buyers needing 3 loans just to close the deal. Also LOTS of investors buying in the new developments.

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Comment by Senior Housing Analyst
2017-05-09 12:42:21
Comment by Casa$Loco
2017-05-10 04:50:21

20% cut in Government employees. Cause and effect.

Comment by Puggs
2017-05-09 13:43:50

So Kansas City is going to the dogs.

Comment by Karen
2017-05-09 14:39:17

Sadly, when the economy really turns down many of these people will abandon their dogs. Where I live it seems like most tenant have dogs, and many have more than one. And a majority of the multi-dog owners here appear to be millenials. Heavily in debt, but gotta have the dogs.

Comment by SLynsns
2017-05-10 06:26:19

I hear you on the “gotta have the dogs” comment and think most people do underestimate their cost and so it seems foolish for a poorer person to have one. However, they are cheaper than a baby. Or a tween. Or a teen. And provide better affection and company, some would argue. If caring for a dog would stop people from having more kids than they can reasonably afford, I’d support that initiative.

Comment by Karen
2017-05-10 08:37:09

I absolutely love dogs and understand why people want them. I’m just worried about what will happen when people don’t have the money to care for them.

Comment by Ben Jones
2017-05-09 14:44:39

‘California’s Department of Finance reported this week that San Francisco led the way in housing construction in 2016, adding 5,114 net new units to accommodate the newcomers, almost all of them (5,065) in multi-family buildings.’

That’s second in volume to Los Angeles, which built 16,574. But San Francisco’s housing gain adds up to one unit per 1.82 new residents, whereas LA built at a rate of only one home per 2.5.’

‘The other big builders—San Diego, Irvine, and San Jose—built at a rate of one per 2.6 people or more. Just a week ago, Redfin chimed in on a chorus of voices suggesting that California in general and the Bay Area in particular are leaking residents in 2017.’

Comment by Blue Skye
2017-05-09 16:52:24

…leaking residents

Awkward incontinence

…built at a rate of one per 2.6 people

And there is still a shortage which explains why this is not a bubble?

Comment by palmetto
2017-05-09 15:04:26

Breaking news: James Comey, you’re fired!

And don’t let the door hitya where the good lord splitya.

Comment by Albuquerquedan
2017-05-09 15:43:08

Yes, good news.

Comment by palmetto
2017-05-09 18:22:15

And da Prez fired Comey with class, too, tee-hee.

“Comey learned of firing as he addressed FBI employees in LA. TV screens in background flashed news of firing. Letter was then given to FBI.”

Now that’s what I call winning. Thank you, Prez T.

Comment by scdave
2017-05-09 18:40:40

You are as sick minded as he is.

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Comment by Race Bannon
2017-05-09 19:12:14

Yet no match for your enragement.

Maryland Housing Demand Plummets 22% YOY As Inventory Looms

Comment by Blue Skye
2017-05-09 19:14:33

Comey didn’t seem like a square guy. Devious or at best inept. Rather doubtful that he could instill confidence in the agency of loyalty to the White House that we elected.

Comment by scdave
2017-05-09 19:28:48

that we elected ??

And you “own it baby”. All of it !!

Comment by Blue Skye
2017-05-09 20:03:14

Well sure Dave, I’m an American, and I participated in the election.

Comment by SLynsns
2017-05-10 06:38:16

Did you fall and bump your head? If you support trump, then you likely support Comey because of the unprecedented steps he took to meddle in the presidential election at the last minute (recall how he commented inappropriately on an ongoing investigation to cast doubt on Clinton without a shred of evidence based on emails her assistant may or may not have sent to her husband on a laptop found while the husband was under investigation for a separate matter?).

If you don’t like Comey and do like trump is it probably because you are blindly biased against anyone who seeks truth that might highlight (for the millionth time?) flaws in trump. He’s flawed. We don’t need to debate it.

So, to be happy trump fires Comey seems…odd. Unless, you’re purely resonating with the jackass way in which he fired him. I would fire anyone who fired anyone else in such a pathetic manner. I would never respect nor work for anyone who behaved in such a jackass manner because they will do it to you too if you stick around long enough. As the saying goes - you can’t BUY class. Maybe you can learn it.

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Comment by Race Bannon
2017-05-10 07:46:40

You have more learning to do than we thought.

Comment by oxide
2017-05-10 08:15:43

SLynsns, you sound new. Don’t pay much attention to Race Bannon. He’s just a goofy trolly and you just gotta rolly.

As to the election, exit polls said that many folks had made up their minds months before, and Clinton really lost the election because bunches of voters stayed home compared to 2012. So it’s probably that late-breaking Comey didn’t as much as it seems.

People didn’t vote for Trump because they liked his manners or his language. They voted because Trump offered jobs and Dems didn’t seem to care about jobs. To a Trump voter, it was worth putting up with bad manners and bad language and jackassery if it means more jobs. Better to work for a rude boss than to be politely laid off. I don’t know why Democrats haven’t figured this out.

Comment by Albuquerquedan
2017-05-10 07:12:36

Yes the deep state is butt hurt today. How dare Trump act like he has the power to determine what goes on, if Comey had done his job Hillary would have been indicted, when you are dealing with classified intelligence negligence is enough, Comey created the essentially malice standard out of whole cloth.

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Comment by JSandusky
2017-05-09 15:59:05

Fire yellon the fellon, NOW!

Comment by new attitude
2017-05-09 16:15:37

Got Nixon?

Comment by Ben Jones
2017-05-09 16:21:24

Rent free.

Comment by new attitude
2017-05-09 16:26:44

not for long

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Comment by Ben Jones
2017-05-09 16:36:39

It’s all been just a horrible dream natty ice dude. You hit your head during the storm. Now click your shoes three times and say, “there’s no place like home, there’s no place like home.”

Comment by Ben Jones
2017-05-09 16:46:00

I forgot to tell you, close your eyes. Oh well, Comey, you’re fired!

Comment by Race Bannon
2017-05-09 16:46:08

Ruby slippers and a leotard?

Comment by Ben Jones
2017-05-09 17:14:52


‘New Senate Minority Leader Charles Schumer (D-N.Y.) said Tuesday that President-elect Donald Trump is “being really dumb” by taking on the intelligence community and its assessments on Russia’s cyber activities.’

“Let me tell you, you take on the intelligence community, they have six ways from Sunday at getting back at you,” Schumer told MSNBC’s Rachel Maddow.’

Comment by Raymond K Hessel
2017-05-09 17:32:23

I’d like to believe this means Trump is intent on a return to the rule of law in this country, including holding the .1% responsible for their crimes. But I’ll believe it when I see it.

Yellen the Felon and Crooked Hillary should be cellmates at the Florence, CO. supermax, with no chance of parole.

Comment by Ben Jones
2017-05-09 17:33:15

‘Chuck Schumer SLAMS President Trump’s Decision To Fire FBI Director James Comey’

Stamp your little feet Chuckie.

Comment by Blue Skye
2017-05-09 17:36:25

Do they run the place or work for us? I guess it depends on if you have dirty secrets that need to stay hidden. Chuck, they could do you six ways from Sunday.

Comment by new attitude
2017-05-09 17:36:50


just another corporatists.

We need more politicians like Pocahontas.


Comment by Ben Jones
2017-05-09 17:50:27

‘We need more politicians like Pocahontas’

Instead you give us Maxine Waters. Anyway, Pocahontas is just a grandstanding hypocrite who is confused about her ethnicity.

Comment by Raymond K Hessel
2017-05-09 17:57:17

Fauxahontus likes to masquerade as as the champion of the middle class, when she threw in with Crooked Hillary, who is emblematic of everything that’s wrong with our corrupt, crony capitalist political establishment.

Comment by new attitude
2017-05-09 18:55:09


But all we got standing up for the people.

Vote no to the corporatist. That is 99% of the GOP and 85% of the DEMS.

too many poor folks and we end up with a revolution. Religion does have the same power to keep em from killing as it used to.

Comment by Raymond K Hessel
2017-05-09 20:24:52

Trump: Knock knock.

Comey: Who’s there?

Trump: Not you anymore.

Comment by Casa$Loco
2017-05-10 04:52:57

Yep Hillary has it coming to her. Promises Made, Promises Kept.

Comment by Ben Jones
2017-05-09 16:18:20

‘Clinton campaign team denounces Comey firing’

I recommend stamping little feet.

Comment by Blue Skye
2017-05-09 16:27:36

Isn’t the “team” oxymoronic after the election? I guess they are funded for a “resist” effort.

Comment by palmetto
2017-05-09 17:11:35

Screech was for Comey before she was against him and now she’s for him again. ’twas Vlad and Comey that lost her the race. Uh-huh.

Comment by Ben Jones
2017-05-09 17:17:10

They’re like natty ice dude. They just blow a gasket every day. It’s kinda fun to watch.

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Comment by palmetto
Comment by palmetto
2017-05-09 17:32:38

This one’s better. The “American Dream” scene from Watchmen.

Comment by new attitude
2017-05-09 17:44:55

You overestimate my interest.

Resist. (and keep your full time job with lots of vacation time)

life is good

Comment by Race Bannon
2017-05-09 18:22:44

Clearly you’ve been had… again.

Comment by Karen
2017-05-10 08:41:05

They’re like natty ice dude. They just blow a gasket every day. It’s kinda fun to watch.

I would be happy Trump won if for no other reason than that he enrages the usual suspects.

Comment by Raymond K Hessel
2017-05-09 17:15:28

If the rule of law applied to the .1%, Hillary and Huma would both be in jail for their mishandling of classified information, among other things.

Comment by SLynsns
2017-05-10 06:48:18

Yeah, and trump would be in jail for his criminal activity of bilking American’s out of their hard earned money with his criminal enterprise - trump University? Or for the multiple, planned bankruptcies where he paid himself out first - then stiffed the small business owners what he owed (owes) them? Or for that time he “allegedly” raped a 13 year old at a billionaire party in NYC - read the court filings - a compelling read and plausible witness testimony as well involving a known sex offender who trump partied with and is also named in the civil law suit filed last year.

You wouldn’t have a double standard for innocent until proven guilty? You’d like to see ALL crime punished equally, I’m sure.

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Comment by new attitude
2017-05-09 17:46:32

Ben would be opposed the original tea party, dumping tea is just too much stamping. Just close your eyes and get in line.

Comment by Blue Skye
2017-05-09 19:19:09

Actually, we poked you and yours in the eye with a stick.

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Comment by Raymond K Hessel
2017-05-09 18:12:37

Comey Comey Comey Comey Comey Chameleon…you come and go, you come and gooooooooooo-o-oh….

Comment by new attitude
2017-05-09 16:19:32

ABQ - large hail and tornadoes today???

Comment by azdude
2017-05-09 16:54:43

u guys got housing wrong! eat some dam crow!

Comment by Blue Skye
2017-05-09 17:38:05

Is that you Dan?

Comment by new attitude
2017-05-09 17:21:20

Did you know that the number of murders increased by almost 60 percent in the city of Chicago last year?

Comment by Ben Jones
2017-05-09 17:30:33

‘It was the second deadliest conflict in the world last year, but it hardly registered in the international headlines. As Syria, Iraq and Afghanistan dominated the news agenda, Mexico’s drug wars claimed 23,000 lives during 2016 — second only to Syria, where 50,000 people died as a result of the civil war.’

“The wars in Iraq and Afghanistan claimed 17,000 and 16,000 lives respectively in 2016, although in lethality they were surpassed by conflicts in Mexico and Central America, which have received much less attention from the media and the international community,” said Anastasia Voronkova, the editor of the survey.’

‘received much less attention from the media and the international community’

I wonder why that is?

Comment by Ben Jones
2017-05-09 17:45:22

‘Illegal immigration across the US-Mexico border fell for the fifth straight month in April as the Trump administration’s crackdown takes root, the Department of Homeland Security said Tuesday. Apprehensions of undocumented immigrants, an indicator for the overall flow, fell to 11,129 in April, the lowest in decades, down two-thirds from the same month a year ago.’

‘The data showed a sharp fall in the number of unaccompanied children attempting to enter the country illegally, 998 in April compared to more than 7,000 in both November and December.’

‘Despite the fall in numbers Lapan said DHS is still seeking to add as many as 5,000 more immigration enforcement staff.’

BTW, in the video from the first link, a cartel killer explains that he taught illegals how to stay in the US.

Comment by palmetto
2017-05-09 18:12:04

A buddy of mine went on a rant today after reading about the MS-13 situation on Long Island. He says it’s the whole ancient violent Mayan influence coming to the fore. Killing just for the sake of killing, no real reason, like Terminator. Soulless.

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Comment by Tarara Boomdea
2017-05-09 19:58:09

I have (by marriage) relatives in Brentwood (Long Island). It makes me chuckle a bit because they made it plain they looked down on where I was born and raised (northern Manhattan - it did deteriorate, to say the least, with every wave of illegal aliens.)

Another branch of relatives live(d) in Bradford, England. Visiting them in the 70’s we asked what’s with all the Pakistanis here? They assured us they’d be/were no problem. We (living in a neighborhood under assault by illegal aliens) said sure, everything will be okay, tell yourselves that. I don’t know about their crime rate. All I know is, once a certain percentage is reached, you, as a native, start being treated like crap.

Bradford study finds higher birth defect risk in married cousins

Morons. I just picked the first link I found. There’s videos on youtube graphically depicting the results of cousin marriage.

Comment by Raymond K Hessel
2017-05-09 17:52:29

Maybe we need to keep this on Mexico’s side of the border.

Comment by Ben Jones
2017-05-09 18:22:26

Check out the comments to this link. These guys kill more people than ISIS ever will, every year.

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Comment by palmetto
2017-05-09 18:31:56

Pretty grim. Life is cheap south of the border. Really a tragedy that any of it was ever permitted to take root here.

Comment by Ben Jones
2017-05-09 18:49:45

It’s important to understand how quickly this has deteriorated. In the mid 90’s I used to go down and walk around Reynosa, Nuevo Laredo with friends - until late at night! As late as the early 2000’s I would even go into Matamoros by myself at night. Now it’s worse than Iraq? Around 2003, I read a local paper blurb, page 3C of course, about a running machine gun battle in Matamoros on the main boulevard, in the middle of the day. It was a shootout between what were then rouge Mexican DEA and police. Although the name didn’t emerge until later, the Zetas were born.

Comment by new attitude
2017-05-09 19:28:25

Yep, we surfed baja as kids in the 80’s, fun times. 3 fish tacos for $1. You just had to worry about theft if you left your car somewhere overnight.

Comment by Ben Jones
2017-05-09 19:34:11

‘3 fish tacos for $1′

You got schlonged. Locals paid a quarter, if that.

Comment by new attitude
2017-05-09 19:37:29

No surf on your side.

Comment by Ben Jones
2017-05-09 19:49:47

You really got schlonged:

‘Here’s a quote from the Dec. 4, 1985, Wall Street Journal: “Today, instead of being a model for other nations, Mexico is a lesson in how quickly an economy on the mend can spin out of control.”

‘The peso plunged to more than 350 to the dollar in 1985 from about 23 to the dollar in 1980. But that decline in value was just the beginning. It went on to trade at more than 3,000 to the dollar before the Mexican government in 1993 issued new pesos and simply wiped out three digits from the exchange rate.’

So you paid a lobster dinner with drinks for 3 fish tacos. How many did you scarf up genius?

Comment by Race Bannon
2017-05-09 19:51:00

8 and defaulted on the 9th. ;)

Comment by Raymond K Hessel
2017-05-09 19:53:15

We used to go into Tijuana and buy M-80s when we were kids. Quality control was a little iffy…that five second fuse meant “plus or minus three seconds.” It’s a miracle we made it through childhood with all our fingers.

Comment by Senior Housing Analyst
2017-05-09 17:23:44

Plano, TX Housing Prices Crater 7% YoY

Comment by Raymond K Hessel
2017-05-09 17:46:25

In 2008, 95% of the ‘Murican electorate meekly bent over for Wall Street by voting for its water carriers Obama and McCain (same Republicrat duopoly stooge). Will they bend over with equal alacrity once Wall Street’s real estate-backed bonds are made whole at taxpayer expense?

Comment by Raymond K Hessel
2017-05-09 17:50:28

Oh dear…and here the MSM assured me that Home Capital’s problems were limited to just this marginal mortgage lender, and at any rate were contained.

Comment by Raymond K Hessel
2017-05-09 18:21:40

Oh dear. Are we starting to see price discovery assert itself on the Fed’s Ponzi stocks?

Comment by Ben Jones
2017-05-09 18:25:42

‘San Francisco-based Yelp said it had a net loss of $4.8 million, or 4 cents a share, in the quarter, after a loss of $15.5 million, or 20 cents a share, in the year-earlier period.’

Comment by Raymond K Hessel
2017-05-09 19:23:44

Down 28% after hours. That’s going to leave a mark.

Comment by Raymond K Hessel
2017-05-09 19:20:02

Yellen’s flying monkeys are at it again, trying to jawbone up the dollar (and suppress gold) by claiming this time around the Fed really, really, really is serious about hiking interest rates - only for Yellen to punt yet again in June, as she mumbles incoherently about “the data” and how it’s telling her she needs to hold off for just a little bit longer…and a little bit longer after that…maybe sometime after the Messiah returns she’ll agree it’s time to start normalizing rates. In the meantime, the Fed’s swindles against savers and the responsible must not be interrupted.

Comment by Race Bannon
2017-05-09 19:31:08

The RageCages are full once again.

…… Goodness..

Comment by Raymond K Hessel
2017-05-09 19:58:11

“It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes.”

Andrew Jackson, On the Second Bank of the United States (forerunner to the larcenous private banking cartel known as the Federal Reserve).

Comment by Raymond K Hessel
2017-05-09 20:02:31

Over half of Canadians could not handle a $200 monthly increase in their bill, yet millions are locked into insanely overpriced houses. Seems sustainable….

Comment by rms
2017-05-09 20:46:05

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” —John Adams

Comment by Raymond K Hessel
2017-05-09 21:22:22

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

Comment by Mr. Banker
2017-05-10 05:27:13

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” —John Adams

There are three ways if you include dope addiction.

Comment by Raymond K Hessel
2017-05-10 05:32:49

Our TBTF banks are all over that action, and have laundered billions in drug money without a single criminal conviction, just slap-on-the-wrist fines amounting to a fraction of their ill-gotten gains. Because, you know, Eric Holder and Loretta Lynch wouldn’t want to cause “systemic damage” by going after the really big criminals. Sessions won’t either.

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Comment by Mr. Banker
2017-05-10 05:35:30

My favorite mode of creating slaves is by drug addiction.

Debt slavery is something the slave can walk away from. Drug addiction, not so much.

Interestingly both debt slavery and drug slavery are arrangements that both types of slaves willingly enter into.

Again, a nation of dummys. Possibly a world of dummys.

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Comment by Raymond K Hessel
2017-05-10 06:05:29

Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

Comment by Raymond K Hessel
Comment by rms
2017-05-10 13:15:55

“Short-sellers riding Home Capital all the way down.”

+1 The jackals of the financial prairie.

Comment by Mr. Banker
2017-05-10 06:11:36

Bahahahahaha …

Prosecutor: Please explain to the court why you killed your cellmate.

Prisoner: I caught him having an affair with my sex doll.

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