The Red-Hot Market Has Become More Rational
A report from Better Dwelling in Canada. “Toronto real estate is about to be hit with a flood of supply, while prices are in a precarious situation. A metric s**t ton of condos will be up for sale over the next two months. Almost 17,000 condo pre-construction units will go on sale according to condos.ca. The press release said they have ‘never seen this many projects launching in such a short span of time.’ They believe the number of units about to hit the market is because the ‘condo market is killing it.’”
“Left your Realtor to english dictionary at home? That means developers are scrambling to realize gains on high property values. When they all scramble at the same time, you should start wondering what’s the rush? This many developers competing against each other is… strange. Unless they all decided land is reaching peak values for the near term.”
From News and Views from Norway. “New figures released by Norway’s national real estate brokers’ association on Wednesday show prices declining and even diving in some areas. Average prices in Oslo, for example, fell for the fifth month in a row and are now 8.4 percent lower than in April. ‘We have to go back to the finance crisis (in 2008-2009) to find such a major decline in price growth over a 12-month period, and it’s especially strong in Oslo,’ Christian Dreyer, chief executive of the brokers’ association Eiendom Norge, said at a presentation.”
“It all suggests that the boom is over, the red-hot real estate market has cooled off and become more rational. Uncertainty, meanwhile, is higher than it’s been for a long time. Dreyer noted that population growth has declined in Norway following the downturn in the oil industry that once attracted lots of job seekers from abroad. ‘There’s a lot of uncertainty tied to whether the downward trend in population growth that we’ve seen so far in 2017 will continue,’ he said.”
From Mansion Global on the UK. “For those in the market for a large or high-end rental in prime central London, there are more than a few options, according to a report from Rokstone, a London-based real estate agency. One of the reasons there are so many larger and luxury properties on the rental market now is because owners have not been able to sell, according to Rokstone. Owners of flats renting for more than £10,000 per week (US$13,300) are choosing to rent them out rather than let the apartment stay empty.”
“‘Currently around six out of 10 inquiries I am getting from my property developer clients is asking us to provide them with bespoke lettings services for luxury property they are holding on their balance sheets,’ said Becky Fatemi, managing director of Rokstone.”
From Morocco World News. “Vacant housing units in Morocco numbered over 1 million in 2014, said the High Commission for Planning (HCP). A recent report by the HCP drew attention in particular to the ‘great disparity’ in vacant housing between urban and rural areas.Cities are the site of 90.7 percent of vacant housing in the country, compared to only 9.3 percent in the countryside.”
“The rate of vacant housing reached 24.1 percent in Casablanca-Settat region, 15.9 percent in the Tangier-Tetouan-Al Hoceima region,followed by 12.7 percent in Rabat-Salé-Kénitra, 12 percent in Fez-Meknes, 9.8 percent in Marrakesh-Safi, 8 percent in Souss-Massa, and 7.5 percent in the Oriental region.”
From Egypt Independent. “Census official data revealed that the total number of vacant housing units in Egypt is 12.8 million units, 4.6 million of which are fully constructed, 4.3 million units need to be finished, and 2.8 million units are closed due to the existence of another dwelling for the family. The governorate of Matruh had the highest percentage of vacant apartments with 46.9 percent out of the total Matruh housing units, followed by the Red Sea with 39.3 percent, and South Sinai with 34.1 percent. Cairo governorate had 22.7 percent of its 4.7 million units vacant, and Port Said had 10.4 percent of its housing units vacant.”
From Fairfax Media in New Zealand. “People holding back from listing their properties may be protecting New Zealand from a significant fall in house prices, QV says. Spokesman David Nagel said a drop in value growth had spread from the main centres to almost all urban areas. QV senior consultant James Steele said sales volumes were at very low levels because it was hard for purchasers to get finance. ‘Prices for new dwellings in large subdivisions have eased back, especially where speculation was a large part of the market, and builders have also noted a slowdown of work in these areas.’”
The Sydney Morning Herald in Australia. “Sydneysiders will feel an uncharacteristically cool spring chill from Monday’s news that house prices have begun their descent in September - an outcome that, while widely anticipated, has been a long time coming. The single biggest factor in Sydney’s housing value fall relative to other capital cities appears to be the volume of new stock coming into the market - an increase of 15 per cent over the same period last year.”
“It looks like Sydney sellers have finally called the top of the market and are rushing to get stock onto the market. Additionally Sydney has traditionally had a larger portion of investors in its market - the segment regulators are trying to rein in because they are seen as primarily responsible for pushing values into the stratosphere.”
From Bloomberg on Australia. “The global crown for the longest stretch of uninterrupted economic growth is within sight for Australia. But it’s limping to the line as policy paralysis weighs on the nation’s prospects. The reliance on rapid immigration is straining infrastructure, while mining profits fuel riches for stakeholders but do little for the vast majority of Australians living in major cities. Meantime, wages are barely growing, households carry some of the world’s heaviest debt loads, and productivity gains from the economic reforms of the 1980s and early 1990s have petered out.”
“And home ownership among young Australians is the lowest on record as successive governments have failed to tackle generous tax breaks that have helped turn housing into a speculative financial asset. ‘The inter-generational shift in wealth in Australia is really penalizing the young,’ said Patricia Apps, professor of public economics at the University of Sydney. ‘Providing tax breaks for housing investors and then arguing that the property bubble it generates represents increased wealth makes no sense at all.’”
Dartmouth, MA Housing Prices Crater 7% YOY
https://www.zillow.com/dartmouth-ma/home-values/
‘Sydneysiders will feel an uncharacteristically cool spring chill from Monday’s news that house prices have begun their descent in September’
Like the reporting of the bust in New Zealands reality show, note the tone like a great death has occurred.
There is a big gap in how the media reports this stuff and what regular people think. Here’s some comments from the NZ link:
kjbob
Let the market dive. Why would anyone in their right mind want to subsidise someone elses tax free investments. If its the family home then you just sit tight you bought for security not profit
Auckland.Man
I just see that Barfoot and Thompsons sales for September are.the worst since 2008. Either people’s incomes have to rise dramatically so prices are not 10x average income, or prices drop to meet the market. John Key saw the writing on the wall and sold his Auckland house early.
Auckland.Man
I see the delusion that the stalling and dropping prices.are somehow caused by people unable to get finance for the current prices. It is much more likely to be caused by the fact our prices are way too high and unrealistic. 10 x average wage. Let the market do its stuff and bring down prices. Now some would say that having LVRs is anti market. But remember that subsidising deposits for first home buyers and subsidising rents (which prop up the rental market and make housing investment more profitable) is also anti market. Remove all these things and the market dives. That is what politicians and banks fear.
nomoregreed
This is good news. Houses are for there to provide a roof for people and NOT speculation vehicles.
economist2
One thing is for sure, anyone who buys a rental property at present is the absolute definition of a financial lunatic.
JoeJames
Reality is, the domestic lending will likely continue to have the largest influence on the future property market. We have to take note that immigration to Auckland still continues to be in record territory, yet prices have mostly stagnated and listings have dropped. The only real change recently was lending restrictions. This conforms to Barefoot and Thompsons research (which represent about 1/3 of NZ’s real estate market) which showed the largest single purchaser group was NZ investors, followed by NZ first time home buyers. Only 6% of their market was comprised of recent migrants to NZ buying their first home, and even less were overseas buyers. Measurements may have flaws, but that won’t change the fact the majority of the market demand is domestic. The future of the housing market will be primarily dictated by what happens to local lending and income, with secondary effects from recent migrants and overseas buyers. Watch the lending space to see what is coming.
Another aspect which will be interesting, is if the trend of returning Kiwi’s from North America, UK, and Australia ends. Most of the last 20 years has been a net loss of NZ nationals, which ahs only reverted in the last 2 years. If that exodus starts again, that will be a real hit to underlining demand.
allgood
As most of Nz earn very little. All these affordable houses are just going to sit there. As the weekly payments are to much.
Oysteer.co.nz
The NZ government coalition may have a small effect on the property market but the main deciding policies are from the banks which governments ultimately need to adhere to.
Their ability to give out loans and the mortgage interest rates being charged heavily weigh on where our real estate prices and ultimately, the economy are heading.
And this is not only a Auckland or New Zealand problem, its global. Look at what’s happening in Australia, Canada, the States, etc
Alisdaircollins
The locals still won’t be able to buy, not enough deposit on low wages, just the people, young couples and retirees from Auckland who are moving out of the rat race and have managed to sell and reap massive capital gain, may cause some bitterness. A clear indication our economy is based on selling houses to each other, tax free, and not on incomes.
Just Lookin
That’s dead right - we are generally a low wage economy. Why? Because we make our money from selling raw materials (dairy, timber, tourism) and have low per capita productivity. As long as we continue to do that wages have to remain low because there’s not the productivity (and therefore profits) to support higher wages. So why can’t we get higher productivity and have more profitable industries? Because we don’t invest in business enough - though that may change over time with the kiwisaver cash looking for a place to invest. So where does all the money that could have gone into investing in business and ultimately lifting wages go? Property…….
08 you say………………
“The global crown for the longest stretch of uninterrupted economic growth is within sight for Australia…And home ownership among young Australians is the lowest on record.”
So much analysis yet the tree can easily be judged by its fruit.
blue,you said earlier that you sold your dock. Did you give up the boat and the redhead?
Oxy, no, not in the least. It’s just a retirement strategy. The dock was very convenient for the years I was using the boat as an office and place to sleep but not actually “boating” most of the time. I went cruising only for 4 to 6 weeks. It was the most pleasant arrangement and very “cheap luxury” as far as living expenses go.
My plan is to launch when I’m ready to cruise and stay in the river/canal system for as many months as I want and just mooch around pretty much for free, then have the boat hauled out when I’m done. Removing the “home” dock looks pretty good for the retirement budget, $40K over the next 20 years.
Denver is cratering:
http://www.thedenverchannel.com/lifestyle/real-estate/report-metro-denver-rents-dipped-slightly-in-september-up-27-percent-year-over-year
Stage 1: Prices stop climbing
Stage 2: Houses stop selling
Stage 3: Standoff with inventory still building
Stage 4: Not giving it away - inventory still building
Stage 5: Chasing the market down
Stage 6: “I gotta bring HOW MUCH to the table to sell?”
Stage 7: Feed the alligator
Stage 8: I am a victim, like the banks - we need a bailouts too
Stage 9: So what that I have a recourse loan? What does that even mean?
Stage 10: Bankruptcy or move to the USA
+++++
A report from Better Dwelling in Canada. “Toronto real estate is about to be hit with a flood of supply, while prices are in a precarious situation. A metric s**t ton of condos will be up for sale over the next two months. Almost 17,000 condo pre-construction units will go on sale according to condos.ca. The press release said they have ‘never seen this many projects launching in such a short span of time.’ They believe the number of units about to hit the market is because the ‘condo market is killing it.’”
“Left your Realtor to english dictionary at home? That means developers are scrambling to realize gains on high property values. When they all scramble at the same time, you should start wondering what’s the rush? This many developers competing against each other is… strange. Unless they all decided land is reaching peak values for the near term.”
Stage 10: Bankruptcy or move to the USA
How hard is it for Canadians to get a Green Card? Is it any easier than for people from other countries?
Anyone think this would have ever happened under obama or Hillary?
When illegals start heading home - lots of housing is going to be freed up.
It will not be in the best condition living four to a bedroom.
+++++
Tree Company Fined Whopping $95 Million for Hiring Illegal Immigrants
Lifezette | October 3, 2017 | Margaret Menge
The tree-trimming company Asplundh Tree Expert has been hit with a $95 million fine for knowingly hiring illegal immigrants and for bringing on some under different names who used documents it knew were fraudulent.
It is the largest fine ever in an immigration case in the U.S.
Asplundh pleaded guilty to criminal charges in federal court in Pennsylvania, where it is headquartered, admitting that its managers restructured the company’s hiring specifically to evade normal human resources processes and hire illegal aliens, many by word-of-mouth, while giving top-level managers deniability.
The $95 million fine includes forfeiture of up to $80 million in profits that the company earned as a result of its hiring of illegal aliens, plus a civil fine of $15 million.
Wow…I never thought I would see that enforced.
You mean, kind of like how he deported more people than all the presidents of the 20th century combined?
http://abcnews.go.com/Politics/obamas-deportation-policy-numbers/story?id=41715661
That’s cute fake news fiction. The convenient omission is that illegals poured into this country through wide open borders under his disastrous, damaging “leadership”.
Yep obama was really hard on illegals…except when they voted.
++++
In an interview with the Latin-oriented YouTube channel mitu, millennial actress Gina Rodriguez asked Obama:
“Many of the millennials, Dreamers, undocumented citizens – and I call them citizens because they contribute to this country – are fearful of voting. So if I vote, will Immigration know where I live? Will they come for my family and deport us?”
Obama responded: “Not true, and the reason is, first of all, when you vote, you are a citizen yourself. And there is not a situation where the voting rolls somehow are transferred over and people start investigating, etc. The sanctity of the vote is strictly confidential.”
The president’s answer left Neil Cavuto of the Fox Business Network completely stunned.
“The president isn’t even questioning whether the person who is an illegal is voting, outside of reminding people that if you’re a citizen, you vote. But it’s very clear that the question that is being asked was about illegals voting and afraid that they might be reported to Border Security. You’re illegal. You cannot vote.”
“The President of the United States is saying, ‘Don’t worry, no one will be spying on you, catching you,’” Cavuto added.
“You’re ignoring the fact that you are being questioned about illegal voting, which you can’t do. Why? Because you’re not a citizen of this country!”
Obama’s remarks were taken the same way by many on Twitter, including Diana Puig, who tweeted, “He’s basically saying to vote even if ur an illegal in this country.”
Read more at http://www.wnd.com/2016/11/obama-encourages-illegal-aliens-to-vote/#0pHazktPzsPmdYyq.99
LOL yeah let’s call everything we don’t like “fake news” and then quote some bullshit site like “world net daily”.
There’s nothing fake about a wide open border with millions of illegals pouring through.
Your best bet? Get on the Trump Train.
Why get on a “Train Wreck”
Trump Train?
Summary: The deal to resettle Australia’s unwanted refugees in the United States, made between the outgoing Obama administration and Malcolm Turnbull’s government over six months ago, is being carried out by the Trump administration. The process is well underway for refugees being detained at Australia’s offshore detention centers on Manus Island in Papua New Guinea and on Nauru. There are currently a total of some 1,250 asylum seekers (mainly men from Iran, Iraq, Somalia, and Sudan) detained on the islands.
https://cis.org/USAustralia-Refugee-Resettlement-Deal-Underway
Trump bashes ‘very bad’ U.S.-Australian refugee deal.
https://www.usatoday.com/story/news/politics/onpolitics/2017/02/02/president-trump-australia-refugee-ban-malcolm-turnbull/97385750/
This was always a confusing story. Obama is clearly saying that if someone votes, then he has already been vetted as a citizen. But the voter rolls don’t know that the citizen’s family is illegal and therefore won’t go after them. (This scenario most likely applies to a citizen anchor baby.)
The reporter assertion that illegals are “citizens” is the fake news, and it messes up Obama’s answer.
It was never confusing. The clip is probably still around. Obama was talking to an illegal who was afraid to vote lest she be arrested. When you vote, you are a citizen… Unless the reporter faked the video, it was not misleading. Perhaps there was a filter in my own ear, but I don’t think so.
He was being sly. He knew exactly what he was saying, and the message he was giving. Everyone knows courts have shot down voter ID requirements whenever they were challenged. There may be some areas where you have to present a valid ID, but not in most.
And “When you vote, you’re a citizen”!
“For the last few years, the Obama Administration has claimed that it’s deporting a record number of illegal aliens. But, the Administration is adding numbers to its overall deportation statistics that have not been historically included in the total number of annual deportations.”
https://www.numbersusa.com/content/news/february-12-2013/how-obama-administration-inflates-deportation-statistics.html
I only use illegals or whitey w a divorce and tax lien
them boys ‘ll DEAL !
The lord loves a working man, don’t trust whitey, see a doctor and get rid of it.
2banana’s Rule:
Long term democrat rule + public unions + free sh*t army = misery, ruin and bankruptcy.
Where the hell did ALL the money go?
+++++
Puerto Rico Bonds Collapse to 36 Cents on Dollar following Trump Comments
04 Oct 2017 - Mish Shedlock
Puerto Rico general obligation bonds fell to 36 cents on the dollar after Trump told Fox News on Tuesday night that Puerto Rico’s debt will have to be wiped out.
Looking back, bonds prices started the collapse in 2014, well before Trump comments and well before hurricanes.
Puerto Rico borrowed billions of dollars, more than any state in the US except California and New York for energy infrastructure, but the money did not shore up its aging infrastructure.
After years of overspending and racking up massive amounts of debt, the average age of Puerto Rico’s petroleum-powered energy plants is 44 years vs an 18 year-average in the US.
44% of Puerto Rico’s electricity is from petroleum vs 0.6% in the US.
On top of $70 billion in debt, Puerto Rico has $123 billion in unfunded liabilities.
You know, I’m thinking the best thing to do with PR may be to relocate everybody to the US and just abandon the place.
But we all know that won’t happen.
Anything built there should be made from reinforced concrete with steel storm shutters. But that won’t happen either.
Oh well, life goes on somehow . . .
Nope.
Either:
1. Give it Independence and let it go its merry way as a third world cesspool.
2. Relocate everyone. Bring in a bunch of Germans and Poles and run it as a very conservative country. It would be a paradise, where everything worked, in about five years.
How bout a few south Koreans in the mix? Theyre kicking azz right now with Samsung and LG, plus you’d be able to get some bibimbap and kim chee!
1. Give it Independence and let it go its merry way as a third world cesspool.
Unless you revoke their US citizenships the hordes will move to the US should that happen.
I recall a poll taken in Mexico, where over half those polled said they would move to the USA if they could. And Mexico is one of the better off (financially) 3rd world countries. If Puerto Rico were turned loose, it would become another Haiti in a heartbeat.
You need intellect, work ethic, and resources plus very little dead weight to make an economy work, and especially so in an island economy. PR, Guam, even Hawaii would collapse without subsidies. Japan is good, dont know enough about Taiwan but that place seems ok as well.
Why build up your own country when you can harvest the existing prosperity of another country? That’s the core of the immigration debate.
You know, I’m thinking the best thing to do with PR may be to relocate everybody to the US and just abandon the place.
They might end up self relocating. FWIW, a net 300,000 left the island between 2010 and 2016, a whopping 8% of the population. i could envision another million or more leaving to join friends or relatives on the mainland.
“reinforced concrete”
It is amazing how low the fatality rate was. I suspect things might be a lot better there now if their utility distribution was hardened.
“President Trump told Fox News Tuesday that “you can say goodbye” to Puerto Rico’s debt as the island struggles to recover from the devastation left by Hurricane Maria.”
“They owe a lot of money to your friends on Wall Street and we’re going to have to wipe that out,” Trump told Rivera. “You can say goodbye to that.”
Who pays when wall street loses money? Everybody!
Any bets on how fast this “public” bank to get deep into real estate (affordable housing - HAHAHAHA!), continue to loosen standards to make things “fair” for minorities, not foreclose and then very quickly go bankrupt?
Or demand a bailout from LA taxpayers.
+++++
LA Considers First Ever City-Owned Public Bank In US
Cbs2la | October 4, 2017
A City Council committee is set to begin discussion Wednesday on making Los Angeles the first city in the nation with its own bank, which would give marijuana dispensary operators access to banking services.
“We cannot bury our heads in the sand on the issue of recreational and medical cannabis legalization. Instead we must strive to reasonably regulate the emerging industry while creating opportunities for Angelenos,” Wesson said.
He said the bank could be used to finance local entrepreneurs and affordable housing.
No city in America has its own bank, and the only public bank in the nation is the Bank of North Dakota, which was created in 1919.
The city currently does the majority of its banking with Wells Fargo through roughly 800 different accounts, but the City Council is exploring cutting ties with Wells Fargo as it considers amending the city’s Responsible Banking Ordinance to require that banks doing business with the city adhere to responsible banking practices.
The Responsible Banking Ordinance was created in 2012 and requires banks doing business with the city to disclose information on loans and foreclosure activity.
Sign of the top?
But the four (FOUR!) foosball table are included in the deal.
+++++
Take a Tour of the MOST EXPENSIVE Home In All of America, Coming In at $250 Million
The giant Beverly Hills estate is on the market for $250 million and contains 38,000 square feet of living space, 12 bedrooms, 21 bathrooms, three kitchens, a movie room, a bowling alley, $30 million of art, and $15 million worth of cars.
http://twentytwowords.com/take-a-tour-of-the-most-expensive-home-in-all-of-america-coming-in-at-250-million/?utm_source=socialmob&utm_medium=cpc&utm_term=influencer&utm_content=4233&umtscde=rkge&umtctd=M2k2eGhwZG5weDY
Nice plain charts.
Bad times are coming. Prepare.
+++++
Commercial and Industrial Credit Growth is Still Slowing
Commercial and industrial lending growth has continued to decelerate throughout the US economy. As the following chart shows, commercial and industrial lending is in the midst of its largest slow down since the 2008 recession. The slowdown began in January 2015, and has coincided with the Federal Reserve’s attempts to modestly tighten monetary conditions.
As the following chart of year over year lending growth shows, this metric has turned negative during or immediately following every formal recession since 1948. Furthermore, at no point since 1948 has lending slowed to the level that is is at today and not subsequently turned negative amid a recession.
http://thesoundingline.com/commercial-industrial-credit-growth-still-slowing/
Average prices in Oslo, for example, fell for the fifth month in a row and are now 8.4 percent lower than in April. ‘We have to go back to the finance crisis (in 2008-2009) to find such a major decline in price growth
wow, in a country w net savings and rule of law
In order to keep the system going the debt needs to keep flowing.
when all those folks defaulted on their homes they were quickly given new loans and more debt.
When you create credit out of thin air nothing is really lost when it is defaulted on. You just brush it aside and issue more debt.
The debt has gotten so huge all the central banks are having an orgy printing money to keep it all propped up.
This system has become one of control by the issuers of credit.
Crown Heights Brooklyn Housing Prices Crater 14% YOY
https://www.zillow.com/crown-heights-new-york-ny/home-values/
Poor snowflakes…
Importance of Campus “Atmosphere”
(Excerpted from articles by George Will, Washpost.com & Frank Bruni, NY Times)
During campus visits, in addition to questions about parking and food, the changing atmosphere on many college campuses
requires new, essential questions to ask of college counselors or students. 1) What is the controversial topic that
students are debating on campus? 2) Are both sides of a contentious issue expressed openly and honestly without
violence or discord on campus and in the classroom? 3) What is being done to address “student distress”? 4) What is
being done to minimize solitary time and maximize interaction? The trend toward “trigger warnings” and “safe spaces”
has led to “re-socialization through altering the norms that undergraduates grew up with, generating self-fulfilling diagnoses
of emotionally fragile students. Often students arrive with little moral ballast bequeathed by parents who thought
their role was to validate their children’s feeling and attitudes, resulting in a risk-averse regime of child-rearing. This has
limited opportunities for the cultivation of independence and extended the phase of dependence into adulthood.” (Frank
Furedi, “What’s Happened to the University?”) An unanticipated sense of loneliness among arriving college freshmen
is becoming more and more common. Since college is sold as a gaudily painted time of their lives, promising all the fun
they could wish, the disparity between myth and reality stuns many of them. “Students are arriving on college campuses
with all of their high school friends on their phones, and they too easily substitute virtual interactions for physical ones,
withdrawing from their immediate circumstances and winding up lonely as a result.” (Jose Antonio Bowen, president
Goucher College, MD) “The use of Facebook and Instagram to perform pantomimes of uninterrupted fun and unalloyed
fabulousness merely amplify the fact that you’re sitting in your residence hall alone.” (Elizabeth Gong-Guy,
UCLA psychologist) The technology that keeps students connected to parents and high school friends only reminds them
of their physical separation from just about everyone they know best. That estrangement can be a gateway to binge
drinking and other self-destructive behavior. What’s often behind all that drinking and eating isn’t celebration but sadness,
which is normal, survivable and shared by many of the people around them, no matter how sunny their faces or their
Facebook posts.
For all of you real estate malinvestment fans, got to u-tube and punch in “This is Dan Bell”. This guy goes around the east coast filming dead shopping malls. They are a testament to the dying middle class. The worst one is the Rolling Acres Mall in Akron OH.
24 Photos of Akron’s Abandoned Rolling Acres Mall
Posted By Alaina Nutile
Sun, Feb 9, 2014 at 5:58 pm
https://www.clevescene.com/scene-and-heard/archives/2014/02/09/25-photos-of-akrons-abandoned-rolling-acres-mall
Progress of demolition of Rolling Acres Mall as of 24 Aug 2017
It reminds me of the demolition of excess empty housing units in California recently.
Link please, Housing Analyst . . . you appear to be making up stuff again.
Hello my good friend.
Denver, CO Housing Prices CRATER 16% YOY
https://www.zillow.com/highland-denver-co/home-values/
lone wolf on the sidelines during a bull market?
College Place, WA Housing Prices Crater 8% YOY
https://www.zillow.com/college-place-wa/home-values/
It was the best of times, it was the worst of times:
http://www.hawaiinewsnow.com/story/36515467/high-demand-for-homes-prompts-hoopili-to-use-lottery-system
http://www.staradvertiser.com/2017/10/04/breaking-news/kakaako-homeless-say-planned-sweep-wont-keep-them-out-of-area-parks/
Thank you federal reserve!
$640k?
Those tourism jobs must pay big bucks.
I need another balance sheet to rack up some debt on.
“New figures released by Norway’s national real estate brokers’ association on Wednesday show prices declining and even diving in some areas. Average prices in Oslo, for example, fell for the fifth month in a row and are now 8.4 percent lower than in April. ‘We have to go back to the finance crisis (in 2008-2009) to find such a major decline in price growth over a 12-month period, and it’s especially strong in Oslo,’ Christian Dreyer, chief executive of the brokers’ association Eiendom Norge, said at a presentation.”
Bubbles seem to be popping in many housing markets around the globe that were formerly known as frothy. Luckily for U.S. residential real estate investors, the Fed and the evil twins, Fannie Mae and Freddie Mac, have their backs.
Dumb question of the day: Why throw Puerto Rico bond investors under the bus when the Fed could easily expand its balance sheet to make them whole?
Not enough connections to Goldmans Sachs?
Time to lighten up! Here’s what keeps the commie globalist sjw snowflakes up at night:
https://www.youtube.com/watch?v=uwIGZLjugKA
I swear, if I’m still around when this guy runs for president, I’ma vote for him. Heck, I’d almost take up residency in Michigan just to help him get to the Senate.
Scott Adams (Dilbert guy) on Kid Rock:
https://www.youtube.com/watch?v=l47GcfA-gDA