The Shake-Out Of The End Of The Boom
It’s Friday desk clearing time for this blogger. “For close to a year, investors have been locked in an epic fight to hold onto their units in a 1990s Miami Beach condo-hotel, amid claims they owe $9.4 million in unpaid assessments. Between December 13, 2016 and October 9, Port Orange, Florida-based Schecher Group has filed foreclosure lawsuits against 65 individuals and companies that own units in the Sixty Sixty Resort. Schecher founder Richard Schecher Sr. has posted videos of himself on Youtube in which he claims delinquent owners owe his company $9.4 million. ‘We have a bunch of owners who sadly have buyers’ remorse,’ Schecher said.”
“A 31,000-square-foot mansion in Bel Air, Los Angeles, is the latest astronomically priced house to get a sizeable price chop, having returned to the market with an asking price of $90 million. The sprawling spec house was first listed in July for $100 million. Opus, a Beverly Hills spec home also dropped out of the $100-million-club recently. The home is now asking $85 million, $15 million less than its original asking price when it was listed in February.”
“A surprising 46 percent of California homes sell below asking price, who knew? California pending home sales shrank for the fourth consecutive month in October to post the lowest level in six months, the California Association of Realtors said. Pending home sales have declined on an annual basis for nine of the last 10 months so far this year, CAR reported. Pending home sales were down 7.3 percent from October 2016 in Southern California. Los Angeles and Orange counties registered lower annual pending sales of 4.7 percent and 4.9 percent, respectively. Double-digit, annual pending sales drops occurred in Riverside (14.0 percent), San Diego (11.4 percent), and San Bernardino (10.4 percent) counties.”
“The share of homes selling above asking price fell from 28 percent a year ago to 23 percent in October, while the share of properties selling below asking price inched up from 44 percent to 46 percent, according to CAR. The 28 percent of homes that sold below asking price sold for an average of 12 percent below asking price in October compared to 9 percent a year ago.”
“For the first time in nearly 9 years the Austin Board of Realtors says the market is changing because of new home construction — but don’t expect to see a significant drop in prices. Between Sept. 2016 and Sept. of this year, 14,263 new homes were built. That’s up almost 8-percent from the year prior when 13,229 homes were built. Come 2018, a record-breaking 15,000 new homes are expected to be constructed because of more lots becoming available and current homes already under construction.”
“For buyers this may mean they don’t have to make an offer on a new home the first day it hits the market. ‘The builders are cranking these out as fast as they can around the city and county area but because of the job influx and the quality of life we have here the price has not really dropped that significantly so buyers have more options but I don’t think it’s being reflected in the price,’ says Steve Crorey, Austin Board of Realtors 2018 President.”
“Reverse mortgage foreclosures in 2016 surged 646% compared to the previous seven years, according to California Reinvestment Coalition (CRC), citing data it obtained from the Department of Housing and Urban Development (HUD) through a Freedom of Information Act request. CRC said that HUD data revealed 32,976 foreclosures on federally insured reverse mortgages from April 2016 to December 2016. In response to an earlier FOIA request, the HUD disclosed that there were 41,237 foreclosures in the HECM program during the seven-year period from April 2009 to April 2016.”
“Riksbank Governor Stefan Ingves said growing concerns over the state of the Swedish housing market didn’t come as a surprise but underscored his belief that the economy can withstand a slowdown. A series of reports in recent weeks point to a rapidly cooling Swedish housing market, raising concerns the country could face a crash like the one it lived through in the early 1990s. The krona weakened almost 2 percent last week, and has continued to slide as investors wonder whether a property market slump is ahead.”
“The reaction in the currency market is ‘difficult to understand,’ Ingves said in an interview after a press briefing on Wednesday. ‘But I’m not surprised that there is a conversation going on outside the country about our housing market given how we for years have mismanaged our housing market. Eventually that will lead to raised eyebrows abroad.’”
“Maria Sharapova is being investigated by police in India in a cheating and criminal conspiracy case involving a real estate company that used the tennis star to endorse a luxury housing project that never took off. Real estate firm Homestead Infrastructure is accused of taking tens of millions of rupees from home buyers for a project called ‘Ballet by Maria Sharapova,’ a luxury apartment complex with its own helipad, tennis academy and other amenities.”
“Lawyer Piyush Singh said his client, Bhawana Agarwal, paid Homestead Infrastructure 5.3 million rupees ($81,678) in 2013 because she was impressed by Sharapova’s association with the project located in Gurgaon, a suburb of the Indian capital. The cost of an apartment in the swanky project was 20 million rupees ($308,000). Agarwal spent the next three years chasing the builders for updates on the property and her investment in it, but they stopped taking her calls, Singh said. On Wednesday, several calls to the numbers of the building company’s website went unanswered. ‘The project never saw the light of day,’ Singh said.”
“New valuations issued by the Auckland Council yesterday showed the average property valuation in the region increased by 46 percent since the last valuations were done three years ago. But the housing market has cooled in the six months since the valuations were set, which meant some properties may be worth less than their value on paper, Loan Market mortgage advisor Bruce Pattern said. ‘We’re already seeing scenarios where the new CV [council valuation] has come in at $2 million-plus, but the house is realistically under $2m. One client texted me yesterday to advise that his valuation had gone up 214 percent. I would struggle to believe that that would be an accurate reflection of their true value,’ he said.”
“The new valuations would not be much help to anyone wanting to borrow money from banks as most lenders recognised they were out of date and would ‘ignore them,’ Mr Patten said.”
“Banks are stepping up home seizures as thousands of West Australians fall behind in their mortgage payments, with most pain felt in outer suburbs and the south-west coastal corridor. Property repossessions have surged to their highest level since the shakedown after the global financial crisis as the mining downturn rocks the last bastion for battlers. LMW Valuers director Rod Davidson said there had been a noticeable increase in bank repossessions in the south-western first-homebuyer suburbs from Baldivis through to Rockingham.”
“‘It’s probably the financial shake-out of the end of the mining boom because many of these are FIFO workers who have now run out of options,’ he said. ‘You don’t lose your house the day you lose your job, it usually takes 12 to 24 months.’”
“An Anglicare financial counsellor based in Rockingham, Jacky Hamilton, said the mortgage problems underpinned a worrying trend of underemployment. ‘Many people who were in full-time employment might now get the odd casual job, but it’s not enough to service their cost of living,’ she said. ‘They max out the credit cards, fall behind in their payments and then the bank moves in.’”
“The party is finally winding down for Australia’s housing market. After five years of surging prices, the market value of the nation’s homes has ballooned to $7.3 trillion – or more than four times gross domestic product. Not even the U.S. and U.K. markets achieved such heights at their peaks a decade ago before prices spiraled lower and dragged their economies with them.”
“Australia’s obsession with property is firmly entrenched in the nation’s economy and psyche, fuelled by record-low interest rates, generous tax breaks, banks hooked on mortgage lending, and prime-time TV shows where home renovators are lauded like sporting heroes. For many, homes morphed into cash machines to finance loans for boats, cars and investment properties. The upshot: households are now twice as indebted as China’s.”
“The increasing treatment of housing as a financial commodity has seen borrowers rush into a byzantine maze of mortgage-related products. That’s made banks very profitable, but very exposed. Aussie households have racked up record private debts and aren’t getting the pay rises to help service them. ‘Australia’s world-record housing boom is officially over,’ UBS Group AG economists declared at the start of this month. ‘The cooling may be happening a bit more quickly than even we expected.’”
Parker, CO Housing Prices Crater 5% YOY
https://www.movoto.com/parker-co/market-trends/
‘the share of properties selling below asking price inched up from 44 percent to 46 percent, according to CAR. The 28 percent of homes that sold below asking price sold for an average of 12 percent below asking price in October compared to 9 percent a year ago’
“The Race Is On”
‘I feel tears wellin’ up cold and deep inside
Like my heart’s sprung a big break’
‘Now the race is on and here comes pride up the backstretch’
https://www.azlyrics.com/lyrics/georgejones/theraceison.html
And when the CAR tries to blame falling CA house prices on the $500K on MID (should it pass), you can post this article again to prove that the crash started before limiting the MID.
It only takes a rumor to spook the herd.
HGTV House Hunters comment today:
“List price was $535,000 and we got it for $535,000, which is AMAZING!”
I think seems as though California is already on the glide path to the next real estate crash, even before interest rates have significantly increased or the Republican tax plan is implemented.
God Bless DJT.
Not a chance in h*ll this would have happened under Hillary.
++++++
Trump Keeping His Word on H-1B Work Visas
American Thinker.com | September 24, 2017 | Karin McQuillan
The pro-immigration lawyers are apoplectic, which is always a sign for celebration. As in other Trump achievements during his first year, the President is accomplishing a cutback on foreign tech workers displacing Americans entirely on his own. The Republican Congress remains stubbornly opposed to the immigration restrictions Republican voters want.
The main tool at President Trump’s disposal is the appointment of a new agency head, in this case Francis Cissna as director of the U.S. Citizenship and Immigration Services (USCIS), who came on board in October, followed in swift order by the novel idea of actually following the law and scrutinizing visa applications.
Unsurprisingly, the law calls for high-skilled visas for foreign workers to fill critical jobs. Instead, Silicon Valley and the Obama Administration abused the privilege and used it to import cheap STEM workers to replace higher-paid Americans. H-1B visas are heavily used by outsourcing firms. First, they bring a worker here to be trained by skilled Americans. Then they shut down the American facility and outsource the jobs to India. Not a nice policy for the U.S. government to actively support.
Greatest lie in America today: there are no qualified Americans for tech jobs. Truth is there are no qualified Americans willing to work for H1B near slave wages.
2nd Greatest lie: Indian programmers are experts in their field. This is such BS. The H1Bs from India are clueless. And many if not most are pure fraud, their “degrees” are made up, their resumes are pure fiction.
Another truth is that Americans are avoiding tech training because they know they will be passed for an H!-B anyway, thus self-fulfilling the prophesy. Easy answer is to simply place a sunset on H1-B: e.g. In three years all H1-B go home (no matter when they arrived). Tons of Americans would train up to fill those jobs.
It should also be noted than some of those H1-Bs can rise into positions where they can make hiring decisions — and guess who they want to hire? [why, the best qualified person for the job, of course.
]
White manager hiring a white employee: LITERALLY worse than Hitler
non-White manager, hiring non-white employee: a celebration of diversity
Another lie is the critical shortage of truck drivers. At first blush this may be true. There is a shortage of people willing to drive trucks. But it’s really a shortage of people willing to drive trucks for the $40K average wage a truck driver makes.
So there are 2 options:
1. Increase wages to $50K or $60 or $70K a year which will attract thousands of people into the industry and correct the “shortage”.
2. Import Mexicans who will happily drive for $40K (or $20K for that matter) while driving 14 hours a day, on speed, without a valid license.
Which option do you think the trucking industry is taking?
And remember if we choose option 1 a tomato might cost an extra 3 cents at the grocery store. And that will destroy the entire US economy. So we have to instead import unskilled, illiterate Mexicans and put tens of thousands of Americans on permanent welfare. That is a boom for the US economy.
+1 And when those illegal immigrants get legal through amnesty, they will be immediately be fired because now you have to pay them fairly. So, fire those immigrants and put *them* on the dole, and bring in a new crop of illegals to continue to drive for $40K. Rinse and repeat until there is no hope of employing everybody, or until we’ve imported an entire country. Solution then? Universal basic income.
[How many people are even left in El Salvador?]
Do you really believe wages will triple or quadruple to meet grossly inflated prices of housing?
Of course not.
Housing Prices will continue to fall to dramatically lower and more affordable levels meeting wages.
Led by Bill Gates in the 90s. He was key to destroying at least a generation of tech workers in this country. Luckily I got in before he went full retard and saw the BS he was peddling and was able to insulate myself to a large degree. Guy deserves to burn in hell along with his scumbag family. Linux FTW!
An oldie but goodie courtesy of the immigration firm of Cohen and Grigsby.
“Keeping in mind our goal, because clearly our goal is not to find a qualified U.S. worker”.
https://www.youtube.com/watch?v=TCbFEgFajGU
India:
https://www.youtube.com/watch?v=y57kIoCucWQ
I have seen this to be the case with inflated resumes. Some are very capable but there are other cultural issues that are at play as well.
American senior developers are usually not afraid to stand up to a bad architectural or technical decision whereas many imported workers with go with the flow, while enabling low quality software to find its way into production.
import cheap STEM workers to replace higher-paid Americans”
Americans tend to respect competence not titles. Many tech managers are totally incompetent so that’s a problem. H1B from the old country will show respect or else.
Set a minimum salary of $200k/annum for HB-1 workers and the problem will solve itself.
Price it at a premium above what American workers are paid for the same role.
just like the way to end High speed trading is for bids and asked to be valid for 1 second..one lousy second.
‘Australia’s obsession with property is firmly entrenched in the nation’s economy and psyche, fuelled by record-low interest rates, generous tax breaks, banks hooked on mortgage lending, and prime-time TV shows where home renovators are lauded like sporting heroes. For many, homes morphed into cash machines to finance loans for boats, cars and investment properties.’
Note how they wallow in it.
I have a few friends who are Australian that own houses or are looking to buy a house there.
They all think that western Australia is in a tailspin due to the mining industry sinking. They actually said “who would ever pay $xxxx amount for a house in a dusty mining town anyways?”
The same rules to no apply to the insane housing prices in Sydney or Melbourne though…
++++
“Banks are stepping up home seizures as thousands of West Australians fall behind in their mortgage payments, with most pain felt in outer suburbs and the south-west coastal corridor. Property repossessions have surged to their highest level since the shakedown after the global financial crisis as the mining downturn rocks the last bastion for battlers.
Not understanding the math on this.
$9.4 million divided by 65 = $145,000 per unit.
Sold at auction to Schecher for $38,000.
It sounds like a HOA scam to empty the building.
+++++
Between December 13, 2016 and October 9, Port Orange, Florida-based Schecher Group has filed foreclosure lawsuits against 65 individuals and companies that own units in the Sixty Sixty Resort
An analysis of the foreclosure lawsuits by The Real Deal shows Schecher won final judgment against three owners, 12 complaints were dismissed, two units have been set for auction and one was sold to Schecher for $38,000.
However, Schecher founder Richard Schecher Sr. has posted videos of himself on Youtube in which he claims delinquent owners owe his company $9.4 million.
Eight years of Hope and Change and this is what you get:
https://www.infowars.com/as-america-gives-thanks-homelessness-continues-to-set-new-records-in-major-cities-all-over-the-nation/
Right on cue for the MSM to notice homeless people exist as a new Republican president comes into office.
Amazing how homeless people showed up out of nowhere in 1981, disappeared in 1993, came back with a vengeance in 2001, vanished in 2009 and returned in 2017.
Somehow almost reminds me of how the Iraq/Afghanistan body-count was literally front page news _daily_ under Bush, and the associated anti-war protest movement (Cindy Shehan?) was continuously covered in their stalking of the president; when Obama was elected, both disappeared suddenly and completely.
It’s almost as if the MSM has an agenda or something. But that can’t be. Everyone on CNN laughs at the idea.
Follow Q anon on 4 chan to get the bread crumbs
CNN=House of Saud $ (Awaleed, now being tortured) = CIA propaganda
NK=CIA? Who is that with BC?
https://www.cbsnews.com/pictures/bill-clinton-visits-north-korea/11/
While Ozero was on vacation with family in Europe (post below by Jeff).
Strange, isnt it? Was Ozero ever really truly president?
†CBTS #537 - NEW Q & NK EDITION† W&W !!2HB9iHje93w (ID: 2kZ83mg6) 11/24/17(Fri)13:55:10 No.150771304
I know it’s the Calm Before the Storm, but let’s get to the storm.
I was looking through this:
https://www.dropbox.com/s/9c5opewwh3owxwe/Book_of_Q_v1.pdf?dl=0&m
I got to the part about slush funds and looked it up:
Oct 24, 2017
The Little Black Book of Billionaire Secrets
Judiciary Chair Claims Internal Docs Reveal Obama DOJ ‘Slush Fund’
‘In June, U.S. Attorney General Jeff Sessions issued a memo to all DOJ components and 94 U.S. Attorney’s Offices prohibiting them from entering into any third party settlements.’
“When the federal government settles a case against a corporate wrongdoer, any settlement funds should go first to the victims and then to the American people — not to bankroll third-party special interest groups or the political friends of whoever is in power,” Sessions said. “Unfortunately, in recent years the Department of Justice has sometimes required or encouraged defendants to make these payments to third parties as a condition of settlement.”
“With this directive, we are ending this practice and ensuring that settlement funds are only used to compensate victims, redress harm, and punish and deter unlawful conduct.”
‘Goodlatte praised Sessions for his decision. “The practice is wrong no matter which party is in power,” he said at the time. “Attorney General Session’s integrity stands in stark contrast to the behavior of Obama Administration officials who used their position to funnel billions of settlement dollars to their political allies.”
‘The internal documents show that a deputy for former Associate Attorney General Tony West — who now serves as executive vice president of government affairs, general counsel and corporate secretary for PepsiCo Inc. — asked colleagues about settlements in negotiation.’
“Can you explain to Tony the best way to allocate some money to an organization of our choosing?” the deputy wrote in a November 2013 email.’
‘West’s team also went out of its way to exclude conservative groups, the internal DOJ documents show…The documents also show outside groups lobbied the DOJ directly to obtain such incentives. In particular, activist leaders met with a senior official from West’s office in March 2014 to “make the case” that, in settling mortgage-lending cases, the DOJ should make donations “mandatory in all future settlements.”
‘This follows a letter requesting that the DOJ offer banks “enhanced credit” for making donations.’
‘A few months later, the department announced major bank settlements requiring mandatory donations to community groups and offering enhanced credit for these donations.’
‘In an August 2014 email, recipient organizations then discuss how they can “thank” West for the money. One organization, in the correspondence released, suggested a resolution and a formal plaque — and even threw out the idea of having a statue of West built so they could “bow down to this statue each day after we get our $200,000+.”
https://www.forbes.com/sites/legalnewsline/2017/10/24/a-smoking-gun-internal-docs-reveal-obama-dojs-slush-fund-judiciary-chair-says/#50af303dcb88
8/31/2016 01:39 pm ET Updated Sep 01, 2017
Hillary Clinton, The Podesta Group And The Saudi Regime: A Fatal Menage A Trois
By Medea Benjamin
‘If I told you that Democratic Party lobbyist Tony Podesta, whose brother John Podesta chairs Hillary Clinton’s presidential campaign, is a registered foreign agent on the Saudi government’s payroll, you’d probably think I was a Trump-thumping, conspiratorial nutcase. But it’s true.’
‘The lobby firm created by both Tony and John Podesta in 1988 receives $140,000 a month from the Saudi government…The Podesta Group’s March 2016 filing, required under the Foreign Agents Registration Act of 1938, shows that Tony Podesta himself oversees the Saudi account. At the same time, Tony Podesta is also a top campaign contributor and bundler for Hillary Clinton. So while one brother runs the campaign, the other brother funds it with earnings that come, in part, from the Saudis.’
‘John and Tony Podesta have been heavyweights in DC insider politics for decades. John Podesta served as President Bill Clinton’s chief of staff, founded the influential DC think tank Center for American Progress (which regularly touts Saudi “reforms”), and was counselor to President Obama. Tony Podesta was dubbed by the New York Times as “one of Washington’s biggest players“ whose clients “are going to get a blueprint for how to succeed in official Washington.”
‘The Saudis hired the Podesta Group in 2015 because it was getting hammered in the press over civilian casualties from its airstrikes in Yemen and its crackdown on political dissidents at home, including sentencing blogger Raif Badawi to ten years in prison and 1,000 lashes for “insulting Islam.” Since then, Tony Podesta’s fingerprints have been all over Saudi Arabia’s advocacy efforts in Washington DC. When Saudi Arabia executed the prominent nonviolent Shia dissident Sheikh Nimr al-Nimr, causing protests throughout the Shia world and inflaming sectarian divisions, The New York Times noted that the Podesta Group provided the newspaper with a Saudi commentator who defended the execution.’
‘The Podesta-Clinton-Saudi connection should be seen in light of the recent media exposes revealing the taudry pay-to-play nature of the Clinton Foundation. Top on the list of foreign donors to the foundation is Saudi Arabia, which contributed between $10 million and $25 million.’
‘What did the Saudis get for their largesse and access? Wikileaks revealed a 2009 cable by then Secretary of State Hillary Clinton saying: “More needs to be done since Saudi Arabia remains a critical financial support base for Al Qaeda, the Taliban, Lashkar e-Tayyiba and other terrorist groups.” Instead of sanctioning the Saudis, Clinton did the opposite: She authorized enormous quantities of weapons to be sold to them. On Christmas Eve in 2011, Hillary Clinton and her closest aides celebrated a massive $29.4 billion sale to the Saudis of over 80 F-15 fighter jets, manufactured by Boeing, a company which coincidentally contributed $900,000 to the Clinton Foundation. In a chain of enthusiastic emails, an aide exclaimed that it was “not a bad Christmas present.”
‘The Clintons have said that if Hillary Clinton gets elected, the foundation will stop taking foreign donations. But what about no longer taking campaign contributions from people who are paid by the Saudi government to whitewash its image?’
https://www.huffingtonpost.com/medea-benjamin/hillary-clinton-the-podes_b_11779826.html
“Hillary Clinton, The Podesta Group And The Saudi Regime: A Fatal Menage A Trois”
Difficult to imagine Hillary in a “menage a trois.”
The corruption makes me sick.
And people looked at me sideways because I commented how the only reason the Clintons gained power over the DNC was because Obama left them with so much debt.
But I thought Obama could do no harm, and had a “grassroots” campaign, driven by massive numbers of tiny donors?
I guess like most Democrats, he couldn’t stop spending when the money ran out.
Yes…
HOMELESSNESS CONTINUES TO SET NEW RECORDS IN MAJOR CITIES ALL OVER THE NATION
But isn’t that really a small price to pay for having been able to give Moochelle Obama, her Mother and the Obama girls tax payer funded vacations the likes of which have never been seen before and will never be seen again.
Michelle Obama enjoys Paris privilege barred to millions in France: Sunday shopping
BY
LINDA HERVIEUX
SPECIAL TO THE NEWS
Tuesday, June 30, 2009, 1:45 PM
http://www.nydailynews.com/news/politics/michelle-obama-enjoys-paris-privilege-barred-millions-france-sunday-shopping-article-1.379302
FROM THE NEWS WIRES
Michelle Obama Spain trip sparks class resentment
Michelle Obama took an expensive five-day trip to Spain with her daughter Sasha, prompting charges of elitism and speculation about the cost to taxpayers. Democrats counter that criticism of Michelle Obama’s personal travels was out of bounds.
By Nancy Benac, Associated Press Writer AUGUST 10, 2010
https://www.csmonitor.com/From-the-news-wires/2010/0810/Michelle-Obama-Spain-trip-sparks-class-resentment
By Daily Mail Reporter
CREATED: 10:33 EST, 24 August 2011
The Obamas’ summer break on Martha’s Vineyard has already been branded a PR disaster after the couple arrived four hours apart on separate government jets.
But according to new reports, this is the least of their extravagances.
White House sources today claimed that the First Lady has spent $10million of U.S. taxpayers’ money on vacations alone in the past year.
Read more: http://www.dailymail.co.uk/news/article-2029615/Michelle-Obama-accused-spending-10m-public-money-vacations.html#ixzz4zNcDKztB
Follow us: @MailOnline on Twitter | DailyMail on Facebook
The Obama-era legacy of out-of-control housing prices continues to destroy the lives Americans who can’t afford a place to live in.
Bay Area flippers stand to lose out under the Republican tax plan. Cry me a river!
Business
GOP tax plans could further choke Bay Area housing market
By Louis Hansen | lhansen@bayareanewsgroup.com | Bay Area News Group
PUBLISHED: November 20, 2017 at 5:34 pm | UPDATED: November 21, 2017 at 10:44 am
NAR’s Yun Says GOP Tax Plan Will Hurt Homeowners
Bloomberg
Quick and profitable home sales by short-term owners in the Bay Area could face steep new taxes under the Republican federal tax overhaul.
Owners selling a house within five years in the region, one of the nation’s most expensive real estate markets, would be punished by new capital gains rules found in the GOP tax proposals, according to a new study.
…
This change will dramatically reduce the games played by “mom and pop” owners of real estate. A cousin of mine owns a number of single-family rentals in a state other than CA. His exit plan was to move into each one sequentially, living in each one for two years before selling them tax free.
And, for the record, yes, he is a staunch Democrat (who obviously has some wealth–with all the homes he has amassed over the years), happy to rail about the fact that the wealthy don’t pay enough taxes.
“Do as I say, not as I do”.
Malibu hates homeless people:
http://www.latimes.com/local/lanow/la-me-ln-malibu-homeless-soup-kitchen-20171124-story.html
“Stay out of my beachfront community!” — The Big Lebowski
Local story on gentrification, vandals spraypainted “white coffee” on some hipster coffee shop:
http://www.denverpost.com/2017/11/23/ink-coffee-five-points-gentrification-controversy/
Not a hate crime if done against whites…
That’s correct.
By definition, underrepresented minorities cannot commit hate crimes.
Underrepresented minorities can only be victims of hate crimes.
‘Someone spray painted “white coffee” on the wall at ink! Coffee in Five Points and broke a window there in what appears to have been retaliation for a sign the business placed out front this week that read, “Happily gentrifying the neighborhood since 2014.”
‘The gentrification sign itself, a manufactured, metal sandwich board that on the back side read “Nothing says gentrification like being able to order a cortado,” was stolen by a man on a skateboard Wednesday evening, according to Johnson. The Post has not confirmed the theft.’
The first rule of gentrification is don’t talk about gentrification. Especially at one of those fou-fou coffee joints.
“Gentrification” only happens during real estate manias.
With “Ghettoreversion” soon to follow…
White people moving into black neighborhoods and revitalizing the community by opening up businesses and providing jobs: BAD AND RACIST
White people staying out of black neighborhoods altogether: BAD AND RACIST
much like
Police actively trying to reduce crime in black areas by arresting criminals: RAAAAYCIS
Police staying out of “the community” and allowing crime to get out of control: RAAAYYCIS
‘Someone spray painted “white coffee” on the wall at ink! Coffee in Five Points
It occurs to me: isn’t naming your coffee shop “ink!” somewhat of an invitation to having it tagged??!?
This may be a possible way Portland developers are dealing with the decrease in housing demand over $500k. Fourth new home in the same area to burn since August. Very suspicious
http://katu.com/news/local/fire-burns-home-under-construction-in-bethany-sheriffs-office-investigating
We saw the same in 2005…
History does repeat.
Wonder if John Conyers went to the Johnny Depp or Nick Cage School of Real Estate Investing?
Probably paying off sexual harassment claims. I am just shocked he is using some of his own money and not making taxpayers (in secret) pay for all of his illegal behavior…
++++++
Accused Harasser Conyers Will Burn Down the House to Keep His Job
Black & Blonde Media | 11/24/17 | Bob Parks
Throughout this sexual abuse revelation outbreak, we’ve seen numerous
men in the entertainment industry step down in response to the varying
allegations. However when it comes to positions where accountability is
optional, politicians seem reluctant to assume responsibility and vacate
the jobs.
Based on congressional financial disclosure forms and calculations made available by OpenSecrets.org, John Conyers’ net worth as of 2012 was estimated between $-15,000 and $-10,000. That averages to *$-12,500*. Conyers ranked as the 108th most wealthy representative in 2012. Between 2004 and 2012, Conyers’ calculated net worth decreased by an average of 98 percent per year. Between 2004 and 2012, the average annual percentage increase for a member of Congress was 15.4 percent.
— Ballotpedia
One can only imagine what financial obligations are constantly draining
Representative Conyers’ bank account.
From what we’ve seen over the years, it’s not clear what skills outside of government Conyers has to offer that would warrant a $174,000 yearly salary and perks and that just may be why his lawyer is not-so-subtlety warning the House of Representatives to back off or else.
I don’t know about Conyers, but it looks like they are giving cues to Maria Sharapova. Promoting a high rise in India? Don’t she have other things to do, like practice her serve?
Oh, and according to the article, “The cost of an apartment in the swanky project was 20 million rupees ($308,000).”
I thought that the US outsourced to India for the cheaper salaries? Who is making the American-level wages to afford these apartments?
In every 3rd World s**thole there are expensive parts of town where condos cost $300K+. Remember, Moscow is one of the most expensive cities in the world even though the typical Russian makes $500/mo.
Indian coworkers tell that it’s “Black money” that buys all the properties and that working stiffs rent.
A few years ago Mumbai residential RE was more expensive than NYC or London.
Once Amazon announced Austin will be HQ2, they won’t have any problems selling homes.
Austin, TX Housing Prices Crater 5%YOY
https://www.movoto.com/austin-tx/market-trends/
Something I’ve wondered: is there an easy way to compute the number of properties (houses, second homes, third homes, rentals) owned by the average property-owning household?
I’m curious whether it is quantitatively, noticeably different than the historical average.
is there an easy way to compute the number of properties (houses, second homes, third homes, rentals) owned by the average property-owning household ??
Yes, if the title is held in their personal name. It’s all public record. If title is held in a separate entity like a LLC then probably not.
I think he’s asking something simpler, like the number of Snickers bars sold nationwide / # of luxury car leases, as opposed to accessing thousands of county property databases and cross referencing owners.
This is particular to my rental increase outrage and Las Vegas. When checking public records my LL owns four houses here, my rental and the one she lives in. Her PM said she had owned up to 60 in LV at one time and assured me she was a professional investor, not an accidental LL, and in for the long haul, so we had no need to worry about a long term rental.
I’m calming down, but for the past few days I’ve felt like this (1992 oldie but goodie):
Maine State Trooper
The trooper was a stitch, though.
This reminds me of when a NYC city official gave me a $200 ticket because someone dropped something on the sidewalk outside of our place. One of our employees had just swept it. I was like “just give it to me” but he said he was required to lecture me on the subject. My reaction was similar to the driver.
Hang in,,negotiate
As the bubbles you’ll gain leverage
Last Vegas should be popping soon
Hope so.
Be happy you’re renting for half the monthly cost of buying. Buy it later after prices crater for 75% less.
Not sure if there is an easy way. There was this article:
https://www.huduser.gov/periodicals/ushmc/spring2004/article_ushmc-04q1.pdf
That seems to attempt to get to the answer using Census data. I haven’t tried to do the math…and getting the data every 10 years isn’t so great.
MAGA Status: Firing on all cylinders.
Trump has appointed more judges in hist 1s year than any other prezzie in modern times. Thank you Harry Reid for nuking the filibuster on judicial nominees back in 2013. And these aren’t just run of the mill judges. These are young and conservative judges that will have an impact long after Trump is finished his second term.
https://www.cnbc.com/2017/11/24/trumps-biggest-win-yet-comes-thanks-to-congress-commentary.html
MAGA Status: Firing on all cylinders ??
Spot on !! Yes they are;
MAGA - Mueller Ain’t Going Away !!
mueller? LOL. Is MuhRussia still a thing?
“MAGA - Mueller Ain’t Going Away !!”
coming soon (hopefully)… ferris mueller’s day off.
his second term
Which will trigger a million snowflake suicides.
Yeah right. Sing Flynn Sing 🎶
Let the soyboys rally behind Kamala Harris or some other progressive nobody.
They can’t win.
The Trump Train has no brakes.
The Trump Train has no brakes ??
Boy you got that right. Out of control train.
Unless the economy goes off the rails like it did under W’s watch, I don’t see the Dems making a comeback, especially if they veer hard to the left after they complete their internal purge
I disagree. Trump won three states by a total of 107,000 votes. That carried him including 11,000 in Mich. You think that same vote would hold today ??
107,000 votes in 3 states. Watch Alabama. That will tell you where this may be headed in 2018. Also watch how many women run in the next two cycles. That will be another indicator.
“how many women run…”
Grasping at straws. Corruption and honesty have no gender. They have no party either. Your Hag could have won if she hadn’t lost.
Things in the economy are likely to get much worse for the average person as the housing bubble rev2 unwinds. That will mean less and less of the corrupt elite leadership will be acceptable.
Get your boarding pass and drop by the pharmacy and get a tube of Trump Cream to soothe that rage-ravaged skull of yours.
“the soyboys”
I love this label. A bunch of flaccid, pencil-necked, doe-eyed hipster guys with big fruity smiles, wearing clothing a size too small for them,
Sigh. I remember when the fashion was clothing with more of a roomy fit. Much more comfortable. I guess the tight clothing is what makes those guys so nasty.
Dems are defending 25 Senate seats next year. 10 of them in states Trump won.
The left is doing the same thing in 2017 that they did in 2016. They think because everyone in DC, NY and SF hates Trump, it must mean everyone in OH, PA, MI, WI and FL hates him too. After all…..POLLS!!
Insanity: doing the same thing….you know the rest
Unless the economy goes off the rails like it did under W’s watch
That seems nearly inevitable, but maybe there’s a way to keep kicking the can.
From what I’ve seen, based on Flynn’s legal maneuvering, he is either:
1) Singing; or
2) Making a deal.
Based on the fact that he wasn’t really involved in Trump’s campaign, and mainly involved to be vetted as VP, and ultimately appointed National Security Advisor, my money would be on Flynn making a deal–(it doesn’t seem likely that he could know a whole lot).
Then again, given his purported ties to Russia, who the hell knows?
The beautiful thing is that we’ll find out, won’t we?
“he wasn’t really involved in Trump’s campaign,”
He most certainly was involved in the campaign, he was the warm-up man at a number of rallies, along with Giuliani and some others. He also did at least one town hall type gathering with Trump. He was a Trump “surrogate”.
Interestingly, I never quite felt comfortable about the guy. He seemed a little fanatical to me. And his departure from the administration on the pretext that he lied to Pence was a tad strange, so I wonder what was really going on. He was an early target of the whole Russia-gate thing, going back to when Comey was still in power.
“Which will trigger a million snowflake suicides.”
Buy stock in Trump Skull Cream now or you will be priced out forever!
One fundamental ingredient to TrumpCream is falling prices to dramatically lower and more affordable levels accelerating the economy and creating jobs like nothing else can.
TrumpCream…. A wildly successful product.
Here’s the best news yet, today:
First, Trump’s sweet, sweet tweet:
“Will be speaking to President Recep Tayyip Erdogan of Turkey this morning about bringing peace to the mess that I inherited in the Middle East. I will get it all done, but what a mistake, in lives and dollars (6 trillion), to be there in the first place!”
That’s huge. And puts a price tag on the Bush and Obama Middle East debacles. I remember his bold statement during the debates in South Carolina: “A big, fat mistake!”
So what does this mean? Apparently this:
http://www.zerohedge.com/news/2017-11-24/trump-reportedly-tells-erdogan-us-will-cease-arming-syrian-kurds
That’s it, that’s ball game for the US in the ME now, especially Syria. It’s over.
And as I read this, I once again recalled Ben explaining to me what was really at stake in the election. “I just want the bombing to stop”. And so did I.
And so do I.
Big doings, my friend, big doings. In fact this is probably just the start. Lol, I’ve even heard, from deep in the bowels of the internet, that here in the US there’s an operation going on parallel to what is taking place in SA in terms of handling some of the bad actors.
They’re not being lodged on thin mattresses in the lobby of Trump’s hotel in DC, nor are they being hung upside down, however, the rumor is that some members of Congress on both sides of the aisle have had their assets frozen because of ill-gotten gains. And as a result, some of the loud-mouths have gotten rather quiet. Not to mention Tom Steyer is being chastised in certain quarters of the Democratic party for his fruity impeachment push.
I want to believe!
Rumors… Time will separate magical thinking from what can be done by what true patriots there may be against an entrenched privileged corrupt elite. I am the eternal optimist.
Here’s to hoping it happens as you guys envisioned.
black friday sales are booming
Steely Dan - Black Friday
https://www.youtube.com/watch?v=I0QhaBW73Sk
Oakton, VA Housing Prices Crater 12% YOY As Northern Virginia/DC Rental Prices Plunge
https://www.movoto.com/oakton-va/market-trends/
‘Schecher founder Richard Schecher Sr. has posted videos of himself on Youtube in which he claims delinquent owners owe his company $9.4 million. ‘We have a bunch of owners who sadly have buyers’ remorse,’ Schecher said.”’
If people owe the seller millions of dollars he is unable to collect, doesn’t that imply a case of seller’s remorse?
time to eat some serious crow on that deal.
I saw a lot of folks pushing shopping carts yesterday. Things arent so great for a lot of people.Seems were good at printing money but real wealth is not happening for a lot of people.
Can we inflate ourselves to prosperity?
How quickly we went back to artificial asset prices.
“The increasing treatment of housing as a financial commodity has seen borrowers rush into a byzantine maze of mortgage-related products. That’s made banks very profitable, but very exposed. Aussie households have racked up record private debts and aren’t getting the pay rises to help service them. ‘Australia’s world-record housing boom is officially over,’ UBS Group AG economists declared at the start of this month. ‘The cooling may be happening a bit more quickly than even we expected.’”
I smell a banking crisis with taxpayer funded bailouts in the foreseeable future.
Doesn’t the size of the credit market/GDP of Australia make that impossible?
Homeowners hurt by GOP tax plan are those who can afford it, says ex-Wells Fargo CEO
- There may be concerns about the impact of the GOP tax plan on the housing market, but ex-Wells Fargo CEO Richard Kovacevich says it is mainly the rich who will feel the pain.
- “You can’t have tax reform unless you get rid of some of the incentives,” he said. “It has to start somewhere.”
Michelle Fox
Published 3:01 PM ET Tue, 21 Nov 2017 CNBC.com
Fmr. Wells Fargo CEO on taxes and its impact on home buyers
There may be concerns about the impact of the Republican tax reform bill on the housing market, but former Wells Fargo CEO Richard Kovacevich told CNBC on Tuesday that it is mainly the rich who will feel the pain.
The House GOP plan halves the deduction of mortgage debt for newly purchased homes to $500,000, while the Senate bill leaves it intact at $1 million. However, the Senate proposal calls for the elimination of state and local tax deductions. The House bill limits those deductions.
Kovacevich told “Power Lunch” the changes may slow down the real estate market for a short time. However, he doesn’t believe it will cause long-term harm to the housing market.
“There is no tax advantage to own a home in the United Kingdom or Canada,” he said, noting their homeownership is at the same level or higher than the U.S.
“The people who really get hurt are the people who can afford it.”
…
Kovacevich told “Power Lunch” the changes may slow down the real estate market for a short time. However, he doesn’t believe it will cause long-term harm to the housing market.
“There is no tax advantage to own a home in the United Kingdom or Canada,” he said, noting their homeownership is at the same level or higher than the U.S.
“The people who really get hurt are the people who can afford it.”
Telling it like it is.
5.4% 1-yr forecast (Oct 31, 2018)
Lost wages,nv
Anyone buying that?
In my zip it’s 6.8%, cool, warmed up from cold. Two places very close to me just sold for $450K+. I’m certainly not going to be buying that.
Ladies and gentlemen, I give you the great T-Rex:
https://www.msn.com/en-us/news/us/diplomats-sound-the-alarm-as-they-are-pushed-out-in-droves/ar-BBFBI7T?li=BBnb7Kz
Probably he did call Trump a moron, however, if tangling with his boss got him to take out the trash, that’s what i call a productive disagreement.
Lol, one thing’s for sure, you don’t hear much from Nikki Haley these days and you don’t hear much leaking from the State Department. In fact, I would say, the smarter departees from State are probably thoroughly pissed at some of their former associates for messing with Rex, because as a result, they, too, got swept up and out in the purge.
Also, putting Kelly in charge as chief of staff was probably one of the smartest things Trump has done for his administration. The leaks have been shut off. And now we know what Reince Priebus was up to.
The state department is infested with god’s children.
To be clear, I think he actually called Trump a “fu—ng moron”.
be clear, I think he actually called Trump a
My own brother has called me far worse things & we still like each other.