The Issue That Sellers Don’t Feel Great About
It’s Friday desk clearing time for this blogger. “Realtor.com named Las Vegas the number one real estate market in the country for 2018. Home prices are rising, but does that mean we’re heading toward another housing bubble? Realtors like Tim Kelly Kiernan believe the market tends to go up and down they’re optimistic we’ve already seen the worst of it. ‘I don’t think what happened in 2008 will ever happen again a lot of that had to do with the mortgages and poorly written mortgages. I don’t think the bubble will happen ever again in our lifetime I don’t see it happening,’ he said.”
“Home buyers are finding new opportunities in neighborhoods across the Nashville region. ‘There’s a wave of home building and another wave coming in mid- to late summer,’ said Todd Reynolds, vice president for Goodall Homes, which is developing more than a half-dozen new neighborhoods. ‘There’s still so much demand,’ said Reynolds.”
“In suburban Hermitage, Ole South is launching the new Heritage Hills subdivision. Prices range from the low $200,000s to the $300,000s, well below the average price of new homes in Davidson County, said Ole South Vice President Trey Lewis. Qualified buyers can participate in the Tennessee Housing Development Agency’s Great Choice program, which provides down payment and closing cost assistance. Buyers can also qualify for down payments of only $1,000 with certain lenders, said Lewis.”
“Although home prices in the area have been going up for quite some time, Brian Talley, owner of Regent Property Group in Westlake, said that the recent peak is more a reflection of growth for the entire Austin metropolitan area rather than something unique to Lake Travis-Westlake. Talley said he had seen some softening on the higher end of the market over the past two years but did not expect the area trend to reverse any time soon. The number of homes sold has decreased each month since June. The median price of homes sold has also decreased since June, and the number of days homes spent on the market increased in the past six months.”
“Talley said he is bullish on the area being able to at least maintain the status quo. ‘As long as we avoid a national or global [economic]catastrophe,’ he said.”
“The fourth quarter was the best time for luxury-home sales in Greenwich last year. It also had the biggest discounts in almost a decade for the tony Connecticut town. High-end homes that changed hands in the quarter had their prices cut by an average of 13.5 percent, the most since the last three months of 2008, when the housing market all but froze in the months after Lehman Brothers Holdings Inc. filed the largest bankruptcy in U.S. history, according to Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.”
“The discounts, in a market that’s still bloated with lavish homes, helped clear some of the backlog. ‘Sellers were unrealistic in their pricing and were chasing the market,’ said Scott Durkin, president of Douglas Elliman ‘The real sellers, who wanted to sell, have negotiated down from their asking price.’”
“A lender has filed foreclosure proceedings on two rental properties owned by a Vancouver family renowned as problem landlords. The buildings are owned by companies controlled by members of the Sahota family. The foreclosures also indicate potential financial strain in the Sahota family’s property empire, which was built over the past four decades by family members and includes apartments as well as single-room occupancy hotels in the city’s Downtown Eastside. ‘The mortgage is in default and a foreclosure proceeding has been commenced,’ the notice to tenants for the East 5th Ave. property says.”
“The UK’s biggest estate agent blamed ‘jittery buyers and unhappy sellers’ for a pre-Christmas slump in the property market which triggered a shock profit warning today. Countrywide saw its shares tumble as the City stampeded out of the stock. Chief executive Alison Platt said: ‘The ability to get sellers over the line continues to be a real challenge. We would see deals that collapse at the last minute. You have always got the fundamental issue that sellers don’t feel great about accepting price reductions.’”
“Housing prices in Sweden dropped by 7 percent in the past three months compared to the same period last year, with the capital city, Stockholm, experiencing the sharpest drop, according to new figures from Svensk Maklarstatistik. ‘In the Stockholm region, the decline in apartment prices has been going on for a few months and now Malmo and Gothenburg have followed. In the villa market, too, prices are dropping,’ Per-Arne Sandgren of Svensk Maklarstatistik told Swedish Television.”
“Existing as well as new tenants are successfully negotiating hefty discounts from landlords as house rents rates continue to drop sharply in Dubai and Sharjah, real estate agents and residents told Gulf News. ‘It’s a customer’s market now. The rents have gone down between 20 to 30 per cent in some areas and that has given people an opportunity to either negotiate with their landlords or look for other options,’ said Imran Khateeb, sales manager at Mak Homes Real Estate.”
“The growth of real estate has been fuelled by infrastructural developments that have opened up new areas, especially around Nairobi. This has led to a glut of both commercial and residential space, leaving investors stuck with projects. Yet despite this glut, more residential and commercial buildings keep coming up all around the country. Developers in the major urban areas, and especially in Nairobi, are at a loss as to what to do with property for which there are no takers.”
“Apartment prices have been falling so rapidly across Sydney’s residential construction hot spots that units are losing more in value each week than their owners earn in wages. Exclusive data obtained by the Daily Telegraph revealed the biggest falls were recorded in the Sydney Olympic Park precinct and parts of the inner west and Parramatta. Median unit values in these regions dropped by up to $145,000 over the past year, a rate of $2788 for each week and the equivalent of the average lawyer’s base income.”
“Realestate.com.au chief economist Nerida Conisbee said the price falls were inevitable. ‘Parramatta in particular has been getting a lot of new units, but there is only so much you can keep building until there’s an oversupply and prices start decreasing,’ Ms Conisbee said.”
“A while back when I read our esteemed editor complaining about getting a $4,800 property tax bill to go with his downtown Boonville commercial acre assessed at $431,000. I remember when $431,000 was a mighty impressive sum of money in little old Anderson Valley. The editor also mentions how, back in 1970, a fella could’ve bought all of downtown Boonville for less than 400 grand and I believe he got that right, too.”
“Since Anderson Valley exists inside an upper-tier real estate bubble fueled by enormous amounts of in-coming, long-term speculator money riding long lines of credit, new buyers get to buy all of the property’s appreciation. The longer the seller has owned his piece of the bubble, the more generous the gift from the taxpayers, and the more the new owners, and taxpayers, and tenants, get swindled. Since today zero-sum money-love is being proclaimed as not just the American Way but God’s Way, too, it’s as if Jesus sold Real Estate parcels up where the streets are paved with gold.”
“Market Values ain’t human values, and you can’t eat paper money, drink pennies or squeeze yourself down inside a safe deposit box. Being ‘land rich’ or a ‘property owner’ doesn’t mean you’re making money. It means you’ve got a roof, a yard out back and you’re hoping to have some liquidity left when you sell it to go someplace else, including the hereafter if you’ve got kids and/or grandkids. If ‘home ownership’ really equaled democracy, commonwealth and prosperity, there wouldn’t be any poverty in this country, much less millions of idle or misused workers and their ill-fed, ill-served children sharing the good life in the slums.”
Napa, CA Housing Prices Crater 6% YOY
https://www.zillow.com/napa-ca/home-values/
*Select price from dropdown menu on first chart
‘I don’t think what happened in 2008 will ever happen again a lot of that had to do with the mortgages and poorly written mortgages. I don’t think the bubble will happen ever again in our lifetime I don’t see it happening,’ he said.”
I remember people saying the same exact thing in 1994 after the 1990 housing downturn. My California house lost 34% of it’s value between September of 1990 and the end of 1995.
Then 2008 happened and it was WORSE! 45-50% reductions from the sub prime fraudulent sales prices.
There will be another downturn. My guess is it will arrive with the next recession…..maybe 2020?
Lynden, WA Housing Prices Crater 5% YOY
https://www.movoto.com/lynden-wa/market-trends/
There will be another downturn. My guess is it will arrive with the next recession…..maybe 2020?
I’m starting to see cracks form in my little burg, on the sale of new, more expensive houses. Still very preliminary, as cheaper used houses still sell quickly and with multiple offers. As to when the floodgates will open, it’s hard to say, though I could see it happening as early as this year, especially if there is a black swan, otherwise probably next year or later.
I’m starting to see cracks ??
The 1.5 Trillion more of borrowing allows the band to play a extra hour…When the music stops, just watch the rats flee including the 239 lb rat…
It is surprising Trump is borderline obese given that he kicks libtard ass on an almost hourly basis, LOL!
Maybe he’s got that crab thing going, one gimp leg and one Yuuuuge leg. Probably could kick for the NFL. Soccer is a no-go, too much hustle. As a side note, soccer games are about the only time I see thin younguns, the rest are all lardy and waddle everywhere with their phone 6″ from their face.
Did I just paint your picture Dave?
No you did not, but nice right wing nut-try. Just go back and look at the past presidents. They are NOT a fat face toad that he is. So you can spin it [FOX] any way you want. The guy is a blimp. And, he does not care. He can “buy” his woman. He does not need to be attractive. He has money 💰💰💰💰
Poor snowflake Libtard can’t handle all the winning, or maybe ur just a loser from the start.
Dave needs a tube of Trump Cream to soothe his rage ravaged skull.
Help the poor and buy him a fresh tube of Trump Cream please.
“…There will be another downturn….”
One boogieman not often discussed are local taxing authorities such as county (here in Calif) property taxes.
Local taxing agencies need ever increased amounts of cash to feed the public union pension funds, etc.
If rising mortgage rates trigger declining sales prices, and the properties are re-accessed, then the local taxing agencies need to increase tax rates even higher to make up the short fall.
Yes, in Calif we have Prop 13, but local agencies can (and do) add an ever expanding list tacked on your basic tax bill.
Yes, in Calif we have Prop 13, but local agencies can (and do) add an ever expanding list tacked on your basic tax bill.
Yeah, they can raise sales and other taxes, plus add fees for everything.
Prop 13 good, TABOR better
Albany, OR Housing Prices Crater 29% YOY As Inventory Floods Market
https://www.movoto.com/albany-or/market-trends/
Flood? 6 more houses equals a flood?
Prices are up year over year from $168/SF to $182/SF……
HA! = idiot!
DebtDonkey
Santa Rosa, CA Housing Prices Crater 11% YOY On Record High Housing Inventory
https://www.zillow.com/santa-rosa-ca-95403/home-values/
https://snag.gy/m5EzRB.jpg
‘In the Stockholm region, the decline in apartment prices has been going on for a few months and now Malmo and Gothenburg have followed.’
Not Malmo and Gothenburg! Om han var här!!
I guess muslim no-go zones DO affect property values.
Not to mention leftist governments that kow tow to “immigrants”
‘the biggest falls were recorded in the Sydney Olympic Park precinct and parts of the inner west and Parramatta. Median unit values in these regions dropped by up to $145,000 over the past year, a rate of $2788 for each week and the equivalent of the average lawyer’s base income’
It wasn’t that long ago people in Sydney were cackling about their airboxes “earning” more than their jobs.
‘Talley said he had seen some softening on the higher end of the market over the past two years but did not expect the area trend to reverse any time soon. The number of homes sold has decreased each month since June. The median price of homes sold has also decreased since June’
But if you listen to the official UHS reports, prices are up, up, UP! Of course if you follow here, we’ve been seeing nuggets about prices falling in parts of Austin for over a year.
Qualified buyers can participate in the Tennessee Housing Development Agency’s Great Choice program, which provides down payment and closing cost assistance. Buyers can also qualify for down payments of only $1,000 with certain lenders, said Lewis.”
If there is “great demand” these programs should not exist. They lock qualified people out of the market.
I could see where these programs can be helpful if there is excess supply and very little demand. but not when the inventory is so low
Honest money cannot compete with cheap easy credit.
“In economics, Gresham’s law is a monetary principle stating that `bad money drives out good’. For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will disappear from circulation.”
No more silver quarters in loose change anymore
“….Honest money cannot compete with cheap easy credit.”
It can if it is patient. I remember waiting for 3 years for the market to correct and nothing happened. Then it took another 3 years to hit bottom. Buying real estate near the bottom was the best investment of my lifetime.
Cash flow is king.
I used my cash where credit cannot go.
If they cash flow so well, why are you selling them Mr. “Cash Flow is King?”
If you owned investment real estate you would know the answer to that question.
Actually, I am retiring. The fact the assets have gone up in value over the last 7 years is just icing on the cake. Well, actually, it is a whole other cake.
Pride — the Deadliest Sin
https://ajps.org/2013/12/10/pride-the-deadliest-sin/
By “demand,” they mean people who want homes, not people who both want and have the money for homes.
A little google-fu turned up the numbers on Tennesee’s “Great Choice” mortgages:
Minimum FICO: 640
Maximum income for Davidson County: $82K (1-2 people). $96K (3 people)
Maximum purchase price for Davidson County: $375K
Basically these are just a fancy way of reducing the down payment. Still gotta come up with the fully-amortized PITI yourself.
I don’t know Nashville, but $350K seems high for a house.
#ReleaseTheMemo
At least FISA wasn’t renewed.
Oh wait…
‘Rep. Gaetz: “Heads Will Roll” at DOJ and FBI When Details Of FISA Abuse Memo Come Out’
Crow time Just Some Dude.
It’s big. Real big. Many Obama goons headed to prison.
“We can never live in a country where this type of thing happens. And particularly, the authentication processes that are laid out in the memo are of such fiction –they are so laughable– that they would never withstand scrutiny from the public.
What I’m worried about is that the cast of characters identified in the memo are not a group of people that are gone. Many of these people are still in our government. They still wield influence. And that’s why we’ve got to get this information out into the public…”
Where’s a leaker when you need one? My guess is that this will never see the light of day, given that this “cast of characters” is still in control.
Very informative video from Jason Goodman (partnered with George Webb for a while) about Inspector General Michael Horowitz and other white hats in govt working (since 2014) against the O admin and their unlawful activities. Nice to know some in government are still working for us.
The OIG report, The War, Investigation and the Forthcoming Storm
‘‘There’s a wave of home building and another wave coming in mid- to late summer…There’s still so much demand’
‘Qualified buyers can participate in the Tennessee Housing Development Agency’s Great Choice program, which provides down payment and closing cost assistance. Buyers can also qualify for down payments of only $1,000 with certain lenders, said Lewis.’
Prices are falling in Nashville too. You’d probably be underwater before you leave the parking lot with 1k down.
‘economist Nerida Conisbee said the price falls were inevitable’
Yes, another “everyone knew it was a bubble” moment. That reminds me, where is Nostradamus Watch?
He be developin’.
He moved to an Apple Watch…….
Just back from a conference. Greetings all.
Headliners generally bullish on commercial RE for the year…until you speak with them privately…less bullish then. Noted flashing red light for Denver multi-family with something like 19k units under construction.
Lots of worry about higher cap rates, but no one can say when, or by how much. Huge demand for industrial (”the new retail”), but even guys who were deep into industrial called Class A cap rates under 4% “absurd” (talking against their book). Consensus seemed to be that the death of retail at the hands of Amazon was overblown (leading to opportunity if you are careful).
Folks expect SFH to have quite a bit of runway.
Data shows that millennials are NOT different than prior generations, and they are starting families (which leads to desire to move to the suburbs).
One guy expected us to have many more years before the next major downturn citing that the rise of GDP from prior peak is typically WAY more than this current expansion before the next downturn occurs.
Despite all the happy talk, most of the more experienced guys in the room would be net sellers, and are cautious when investing in new projects–I share this view.
Did you tell them your predicted glut of apartments has come true?
Starting families… That’s one reason I bought an SFH with a yard. I figure eventually those millenials will tire of the craft beer and vibrant city life. They can’t all want to live in hi-rises forever. Someone will eventually want my house.
Anyone looking for a house might Donk. Just don’t expect to be made good on your losses.
Have you heard her describe her neighbors and neighborhood?
I won’t be buying that shack.
Hey Oxy, tell these renters how much you saved over paying rent these last 7 years. And how much have you paid down in principal on your loan? And what is the market value of your place versus the purchase price?
You must get so tired of winning…..and all the renters seem to be tired of your winning! Enjoy.
Can’t say I blame you, Karen. But unless people want to pay double bucks for lily-white, pretty much all the neighborhoods at this price range are going to be like mine. And if they do hold out for a better nabe, then they are hypocrites to the core. They are the ones voting to welcome people like my neighbors. Of course, they only want them for a couple hours a week to clean the house and mow the lawn.
But unless people want to pay double bucks for lily-white, pretty much all the neighborhoods at this price range are going to be like mine.
You’re the one obsessed by race. I’m talking about the houses packed full of people, with beaters lining the street, etc.
Democrats continually lecture us that the rich don’t pay their fair share.
Even they see that they will run out of other people’s money soon.
They could always cut taxes…
BAHAHAHAHAHAHAHA!
++++++
NY and CA Democrats should be worried about real estate values
sacbee.com - Adam Ashton - January 18, 2018 12:33 PM
The Republican-backed federal tax bill flipped the tables on a never-ending question for California politicians: Will high taxes lead the state’s wealthiest residents to flee the Golden State for the comparable tax havens of Florida, Nevada and Texas?
But now, with the federal tax bill cutting off deductions that benefited well-off Californians, the state’s Democrats suddenly are singing the GOP song about a potential millionaire exodus.
“People with higher incomes pay a lot more money, and some of them may be tempted to leave,” Gov. Jerry Brown said when he unveiled his 2018-19 budget proposal last week. “This was an assault by the Republicans in Congress against California.”
Democratic state lawmakers are worried because California relies so heavily on the income taxes it collects from high earners to fund government services. The state’s wealthiest 1 percent, for instance, pay 48 percent of its income tax, and the departure of just a few families could lead to a noticeable hit to state general fund revenue.
“Despite the rhetoric regarding California’s oppressive tax regime and its overall hostility to business, individuals coming to California are primarily concentrated in high wage occupations, which enable them to absorb the state’s high housing costs and cost of living,” the report said.
But State Controller Betty Yee, a Democrat who was a member of the Board of Equalization when it commissioned the Stanford study, said the combination of the state’s high housing prices and the cap on mortgage interest deductions present a different problem than that report considered.
California is the most impoverished state in the country.
“The state’s wealthiest 1 percent, for instance, pay 48 percent of its income tax …”
It’s not all that often that one gets to read such a blatant truth in the MSM.
I know - like Pravda, the fake legacy news media sometimes lets the truth slide out.
And guess what happens when they move out of state?
And the bubble pops on stocks and real estate?
At least they are NYS yet. NYS is actually going to RAISE taxes to “make up” for the DJT new tax laws.
+++++
“It’s not all that often that one gets to read such a blatant truth in the MSM.”
I saw that as well. Which is a chilling fact for those in charge in CA, as it won’t take many 1%ers leaving their state to seriously impact their revenue, causing an Illinois-like downward spiral.
It was in New Jersey, if I recall correctly, where one firm and mainly 1 person, moved to Fl and puta $150 MM{ithink that was the number) hole in the state budget.
It won’t take many people to move to NV but commute but stay in company hotels during part of the week,to put a huge hole in the CA budget.
CA has probably had higher taxes than NV for a long time now. Maybe rich people don’t want to live in hotels.
Dude!
++++++
Study Shows Value of Homes Near Marijuana Shops May Be Increasing
WesternSlopeNow.com | 01/18/2018 | Katerina Chryssafis
PALISADE, Colo. - A new study shows that if you have a marijuana shop down the street from your home, it may actually be boosting your houses resale value.
The town of Palisade opened its first recreational marijuana shop back in September of 2017. Those in favor say having these shops in our area may have its perks.
“It’s brought in a lot of jobs,” said Palisade Resident Terren Gideon.
“Economically that will definitely boost our revenue,” said Palisade Resident Zach Becker.
Yet it doesn’t stop there. Studies show that actually owning a home next to a recreational marijuana shop may also be beneficial.
“If we look at the overall appreciation for Palisade real estate over the last year it’s been about 13.5%. I think that’s a pretty good move in the right direction for home owners and business owners out there in Palisade,” said Darin Carei, Managing Broker at River City Real Estate.
Colorado Springs is loosing out bigtime. All the weed money in El Paso County goes to Manitou Springs.
Indeed, MS is full of weed freaks.
My little burg also does not allow dispensaries, so Fort Collins gets the biz.
There is a local sandwich chain out here called Silvermine Subs. They are open until 3AM and they deliver. From what I have heard, most of their late nite clientele are stoners.
” I don’t think the bubble will happen ever again in our lifetime…”
You mean the crash. We are already in the bubble. 2008 wasn’t “the bubble”, it was a partial correction. Realtors have a very twisted view of reality. They should be called UnRealtors.
It used to be bubbles happened once in a generation - maybe.
Now they happen about every 3-4 years.
There used to be severe consequences, not that long ago, for being caught on the wrong side of the bubble. Bush Sr put 1800 bankers in jail.
Today - Jon Corzine is starting a new hedge fund.
8 years after he took the helm at MF Global in March 2010 (imploding the firm the next year, leaving more than $1 billion of customer money missing, in the eighth-largest bankruptcy in U.S. history), Jon Corzine is back with a new hedge fund that’s betting the Trump administration will stir up markets.
https://www.zerohedge.com/news/2018-01-19/john-corzines-new-hedge-fund-betting-trump-triggered-trades
Exactly. Even after this one pops, there will be another one.
You’re going to need something bigger than the “China Miracle” for the next one.
Government shutdown news from above the fold at WashPost:
Government shutdown looms as Senate Democrats dig in against GOP spending plan January 19 at 11:59 AM
The federal government remained on a path toward a shutdown Friday as Senate Democrats rallied against a short-term spending bill that does not offer protections for young undocumented immigrants or address other priorities such as disaster relief.
With less than 18 hours before the midnight deadline, there was uncertainty about House members’ plans to remain in Washington after delivering a take-it-or-leave-it spending bill to the Senate. House Majority Leader Kevin McCarthy (R-Calif.) said he would release his members to depart for a planned one-week recess, but leadership later advised members that additional votes were possible Friday.
——————-
Planned one-week recess? In other words, the Republican Congresscritters are going home for a week, and won’t even TRY to pass a budget? Sounds like it’s going to be a long one.
The “dreamers” are now 3.6 million up from 800,000.
American citizens do not want amnesty.
According to polls, 70-80% of the voters want protections for the DACAs. Of course, take away the polled voters who would protect DACAs in return for e-verify, ending chain migration, and ending diversity lottery and that 70% would drop — very fast and very far.
Dems are now screaming that Republicans will be forced to “compromise.” Heh. Dems never held up their end of the compromise they made in 1986.
‘According to polls, 70-80% of the voters want protections for the DACAs’
Sure.
The pollsters stood outside of Walmarts.
Can we put their parents in prison for human trafficking?
Is smuggling non-citizen minors across the border considered human trafficking? If they were brought here as sex slaves or as live-in domestic workers (essentially kept as slaves) it would be.
The most important lesson here, on this glorious Eve of the First Anniversary of The Donald, is that the Democrat Party values illegals (and their future votes) over Unites States citizens.
+1000. Dems don’t care about Americans. At least not the ones who work and pay taxes.
Here are some dreamers doing the crimes Americans wont do:
Illegal immigrant alleged cop killer wishes he ‘killed more’
http://video.foxnews.com/v/5713541178001/?#sp=show-clips
http://www.foxnews.com/politics/2018/01/18/illegal-immigrant-accused-stabbing-stranger-in-neck-at-california-market-had-been-deported-seven-times.html
These are the people the dem party want flooding this country. They need the chaos to cover up (((their))) crimes. Raise taxes, destroy the schools, economy, and middle class - leftist playbook is amazingly consistent in this regard. Deep down they are sick and hate themselves and project that hatred on the rest of humanity. And they claim to be “chosen”. Truly sick.
That’s funny, all the Dreamers I see on the CBS Evening News are in Medical School and came here through no fault of their own.
There is never any mention of Dreamers who have killed 2 cops and say they will break out of prison and kill more or any who have been deported multiple times and returned to stab old men in the neck.
According to polls, Hillary Clinton winning the election was a sure thing.
January 11, 2018 - Dreamers Should Stay, American Voters Say 8-1, Quinnipiac University National Poll Finds; Do Not Enforce Federal Pot Laws, U.S. Voters Say 3-1
Undocumented immigrants brought to the U.S. as children, so-called “Dreamers,” should be allowed to remain in the U.S. and apply for citizenship, 79 percent of American voters say in a Quinnipiac University National Poll released today. Another 7 percent say Dreamers should be allowed to stay but not apply for citizenship, and 11 percent say Dreamers should be required to leave the U.S.
Support for allowing dreamers to stay and apply for citizenship ranges from 64 percent among Republicans to 92 percent among Democrats, the independent Quinnipiac (KWIN-uh-pe- ack) University Poll finds.
https://poll.qu.edu/national/release-detail?ReleaseID=2512
How many of those 79% wanted DACA to be protected only with strings attached? Oh right, QU didn’t ask. They just asked yes/no. Your survey is a sh!thole.
The Republicans would be happy to protect the DACA as long as there are serious strings attached. Remember, Dems were supposed to fulfill that part in 1986, and what happened?
Sometimes the best deal making is not to deal at all.
And I mean DACA, *NOT* the millions of other so-called “Dreamers” who didn’t even bother to apply. If they don’t want to apply, then I don’t want them to stay.
Hey Donk
“As you may know, a U.S. government program allows some immigrants who were brought to the U.S. illegally as children to remain in the U.S. without risk of deportation. To qualify, immigrants had to be under the age of 30 as of 2012, have no criminal record, and be a student, in the military, or have earned a high school diploma. Do you think the U.S. should continue this policy and allow immigrants who meet these qualifications to remain in the U.S., or end this policy and allow immigrants to be deported even if they do meet these qualifications?”
1/14-15 & 17-18/18
Continue this policy: 84%
End this policy: 11%
Unsure/Refused: 5%
http://cdn.cnn.com/cnn/2018/images/01/19/rel1a-trump2c.shutdown2c.immigration.pdf
Wow you really are a tea party patriot. A program, eh? Why not a law? Why didn’t congress to make this a thing? Oh, right, not enough votes, stroke of the pen and all that. So if it’s just a presidents decision, get congress to make it legal. They’re accountable to all these “voters” in the poll. The pressure would be (and would have been years ago) unbearable, if this poll was accurate.
And how come people who don’t vote (the majority of citizens, BTW) get a say in this poll? Hmmm. I’m starting to think you are full of sh!thole TPP and you are swirling the bowl towards goodbye!
Give him the swirly twirl Jonesy! Flush the turd!
Let’s not forget the most obvious flaw: if this poll was accurate Screech would be in the white house. She’s not and it isn’t. Plus this poster doesn’t seem remotely interested in the housing bubble which means wasting my time and bandwidth.
Oxide raised the issue of polls and I found the data.
Garbage data.
Why isn’t Screech the president then? This poll shows overwhelming support for illegal immigration.
It’s not easy to say. There could be problems with the poll. Most likely it was decided on other issues. Then there were things that appeared to not have anything to do with issues at all, such as Hillary’s personality or her health, which received a lot of attention. Trump himself has said that she didn’t spend enough time in the right states in the last month before the election.
“NOW HAVING SAID ALL THIS WHY AREN’T I 50 POINTS AHEAD YOU MIGHT ASK?”
https://www.youtube.com/watch?v=1VyOfDQZECc
These polls are crap. For instance if it had asked, “As you may know, President Obama signed an executive order which allows some immigrants who were brought to the U.S. illegally as children by illegal immigrants themselves, to remain in the U.S. without risk of deportation, because he couldn’t get the votes in congress to make it law. Do you think the U.S. should continue this executive order, allow immigrants who meet these qualifications President Obama unilaterally decided upon, regardless of other factors such as familial criminal record or welfare registry, to remain in the U.S., or end this policy and allow immigrants to be deported even if they do meet these narrow qualifications?”
See how that works?
“Tea Party Patriot” my azz. More like Demorat in hiding…
glad for your remark about devious demo…l was being polite but thought of responding to his musings with a word we used during vietnam, the thai word for BS being go houk.
You did NOT find data. I asked for data about ATTACHING STRINGS to continue the policy, not only about continuing the policy.
To be honest , I don’t want you to be banned. But your logical fallacies and smarmy half responses are annoying and they don’t work on smart people, which we are.
I have no problem with a real discussion on the merits of these DACAs. If they bother to apply and meet quals, that’s one thing. But imo it’s not acceptable for any other country to march in by the millions and bring all their distant relatives simply to mooch off of hundreds of years of hard work done by this great country.
Sounds like it’s going to be a long one ??
I sure hope so…Shut-her-down…
Update: Trump invited Schumer to the White House to talk possible negotiations. Schumer just got out, told reporters “Progress, but no deal.” Twice recently, any time The Donald spoke without thinking and nearly made a deal, Schumer and Pelosi crowed non-stop for the cameras. But now, if all Schumer can say is “Progress,” then he must have been shut down, possibly severely.
then he must have been shut down, possibly severely ??
LOL. Trump blinked. Called Schumer in to cut a deal. Schumer gave him the middle finger wave.
No, Trump absolutely did not blink. Since the Republican funding bill had almost everything else in it, the only possible Trump blink would be for Trump do cave on DACA. And if Trump had caved on DACA, then Schumer would not have given him the finger. Instead, Schumer would have given a press conference in microseconds and a vote within minutes.
The fact that Trump called him in hours before shut-down means he blinked. What do you think Trump had to say; “take it or leave it Schumer” ? LOL. The con-man lost. Schumer told him to go to hell. Trump is pissed because he had to cancel his T-time tomorrow..
Geeze davey, all you’ve got is your paintbrush. You don’t actually know anything about it.
buying assets such as stocks and homes is your ticket to financial freedom.
Does freezing in the dark affect property values?
I am pretty sure “retirements of power plants with stored fuel” means coal and nuclear.
But much better to freeze in the dark.
+++++++
REPORT: New England Faces A Future Of ‘Rolling Blackouts’ As Power Plants Close
Daily Caller | 1/19/18 | Michael Bastasch
New England is facing an energy future of “rolling blackouts and controlled outages” by 2025 as more power plants close down and pipeline capacity continues to lag behind.
The new report by the New England’s grid operator comes after the region suffered through a frigid start to the new year that pushed up prices and strained energy supplies. It could be just a taste of the region’s future.
ISO’s study found “retirements of power plants with stored fuel, tightening emissions restrictions, and the reliance on a fuel that may not be available when needed most are all challenging New England’s power system,” especially during extreme cold spells.
New England has increasingly become reliant on natural gas, which is mainly supplied through pipelines and liquefied natural gas imports. But without adequate pipeline capacity, power plants strain to keep the lights on.
Environmentalists have played a major role in killing pipeline projects meant to bring natural gas to the northeast. New Englanders can also thank Democratic New York Gov. Andrew Cuomo for the lack of pipeline capacity.
Cuomo’s taken a hardline stance against new natural gas pipelines, including those running through his state to New England. Cuomo’s blocked at least three major pipeline projects in the past two years.
“Environmentalists have played a major role in killing pipeline projects meant to bring natural gas to the northeast. New Englanders can also thank Democratic New York Gov. Andrew Cuomo for the lack of pipeline capacity.”
So, allow unfettered population growth via open borders, but don’t allow the power infrastructure to keep pace?
Oh well, not my problem. We produce tons of nat gas here in the centennial state.
We have a natural gas storage system here in NY. It gets us through a cold spell. It’s not there to help unprepared New Englanders.
Environmentalists lobbies for years to close the Vermont Yankee nuke plant. They got what they wished for. Build some windmills, folks.
We need 50 nukes,stat
Average 40 years old
So, um.. Should I wait to buy a house in Vegas? lol
You know what they say . . . in Vegas, the house always wins!
😁
Should I wait to buy a house in Vegas?
ha ha, funny
More Good News on Retirement Savings
KEVIN DRUM JAN. 17, 2018 2:57 PM
Here’s some interesting news from the Employee Benefit Research Institute. Not everyone is aware of this, but Americans have more retirement income in IRA accounts ($7.2 trillion) than in 401k accounts ($5.6 trillion). A few years ago EBRI started collecting information about IRA contributions, and they now have enough data to show some trends over the past few years. For starters, more people are putting money in IRAs: 14.1 percent in 2015 compared to 12.1 percent in 2010. And the amount of money they’ve been contributing has gone steadily up:
The basic story is simple: more people are starting IRAs, and the ones who do are contributing more to them. That’s especially true of young people, who are contributing 15-20 percent more than they were just a few years ago.
http://www.motherjones.com/kevin-drum/2018/01/more-good-news-on-retirement-savings/
$12.8 trillion, that could make a dent in the national debt…
I wonder how much of this is driven by no employer matches for 401Ks?
Fair point. 401(k)’s aren’t really that interesting unless there’s an employer match involved, or you’ve maxed our your IRA contributions.
Part of it is changing jobs. The employer controls the 401K and the employee is strictly limited in what can be done with the money. If one retires or changes jobs there are incentives for them to roll the money into an IRA ASAP.
And you have to be vested for what, a year, before getting into a 401K. That’s not much good for Gig Economy workers doing 6-9 month stints as contractors.
And you have to be vested for what, a year, before getting into a 401K.
Everywhere I’ve been you could start contributing within 30 days, but the employer match might not vest very quickly. The best match I’ve ever gotten was 7% but took a long time to vest. I’ve had others that only matched 3% but the employer contribution vested immediately.
$01Ks are for “employees”. If you’re a contractor I don’t think you can participate.
Oops.
Double oops.
401K
My employer matches 100% of the first six percent, and it’s 100% vested immediately.
Yes, you read that correctly. I put in 6 percent of income (employer’s max out level), and they match it 100%. ZERO wait time. And all employees can take advantage, from the janitors on up to the CEO.
And I’m in a non-STEM, non-government, non-government contractor business, to boot.
My employer matches 100% of the first six percent, and it’s 100% vested immediately.
That used to be fairly standard some years ago. During my recent job search I’ve found that 50% match for the first 6% has become standard at “better” employers.
I’ve been fortunate that way - although I’ve been working at this employer for just two years.. They implemented this match just a year before I arrived.
I’ve never had a better deal.
Most of the time, I have had exactly what you said, a 50% match for the first 6%. Five year vesting.
My 401k plan has a 4% match with immediate vesting.
I think part of the reason that the aggregate IRA balances are higher than the aggregate 401k balances is that some of the 401k plans offer really crappy (expensive) investment choices and as has been already discussed, no match.
If you’re making the median income, and your 401k has crappy investment choices and no match, then contributing to an IRA of your choosing looks very attractive.
If a contractor uses a closely held company they can in fact direct a very large amount toward retirement. I think a solo 401k can receive over 50k per year we’ll beyond the usual 401k limits.
The Tax Break That Doctors and Plumbers Both Will Miss
Rules around key deduction for many small firms has high earners, experts puzzled; ‘As clear as mud’
By Ruth Simon
Updated Jan. 19, 2018 9:44 a.m. ET
The owner of a successful chain of tanning salons should qualify for a new tax deduction, but someone who makes the same amount from a group of dermatology clinics won’t.
A high-earning architect can generally claim that same tax break, but the designer who collects a big fee for working on the building’s interior probably can’t. A chef who owns her restaurant can also expect to pay less, but that may not be true if she is a celebrity chef.
Tax experts and accountants are scratching their heads over these and other quirks in how the new federal tax law treats high-income owners of so-called pass-through businesses, which are firms that pay tax through individual, not corporate, returns.
The new law contains guardrails, designed to limit the pass-through deduction’s cost and prevent people from claiming a business tax break for what is really labor income. Among them, doctors, lawyers and others in service businesses can’t claim the break if they earn too much money.
The restrictions also affect high earners in any business or trade where the “principal asset” is “the reputation or skill of one or more of its employees or owners.”
The big questions include: Just what is a service business? And if you are famous for what you do—whether you are a baker, hair stylist, florist or the owner of a fashion brand such as an Ivanka Trump —will you end up paying more in taxes?
“My head is spinning,” said Meredith Tucker, a Fort Lauderdale, Fla., accountant who works with entrepreneurs. “I have been doing this for decades and even I don’t feel comfortable.”
https://www.wsj.com/articles/what-do-a-plumber-and-a-celebrity-brand-have-in-common-they-could-miss-out-on-a-big-tax-break-1516363201
Oakton, VA Housing Prices Crater 12% YOY As Housing Correction Expands In Nations Capital
https://www.movoto.com/oakton-va/market-trends/
Energy and Environment
The planet just had its hottest 4 years in recorded history. Trump is dismantling efforts to fight climate change.
By Chris Mooney January 18 at 4:20 PM
2017 was among the hottest years ever recorded, government scientists reported Thursday.
The year was the second-hottest in recorded history, NASA said, while scientists from the National Oceanic and Atmospheric Administration reported 2017 was the third-warmest they have ever recorded.
The two government agencies use different methodologies to calculate global temperatures, but by either standard, the 2017 results make the past four years the hottest period in their 138-year archive.
“The planet is warming remarkably uniformly,” Gavin Schmidt, director of NASA’s Goddard Institute for Space Studies, told reporters Thursday.
The renewed evidence of climate change, driven by human emissions of greenhouse gases, comes as the Trump administration moves to open new areas for oil drilling and rolls back regulations that sought to reduce global warming, most prominently by moving to repeal the Obama administration’s Clean Power Plan. The administration said it would withdraw from the Paris climate agreement last year.
https://www.washingtonpost.com/news/energy-environment/wp/2018/01/18/2017-was-among-the-planets-hottest-years-on-record-government-scientists-report
Hotter than when Alaska had tropical rainforests and alligators?
Hotter than when Greenland was actually green and was self sustaining by raising grazing cattle and sheep?
Come to think about, all years are much hotter than when NYC was covered by a glacier
Warmists gonna warm.
My last government contractor gig working for Uncle Sugar was at the National Renewable Energy Laboratory. They got $17 billion of Recovery Act Obamabux in 2009. For every headline grabbing Solyndra, there are hundreds of grant recipients and cooperative funding agreements that lost $50,000, $100,000, $250,000 etc that spent the money and created nothing to show for it. Back in 2010-2012, many were regularly failing financial audits. But the money kept flowing, because in the literal words of a Contracting Officer I worked with, they were “good people doing good things.”
And yes, the contractor closeout team had their contract terminated as of 12/31/2017. One of them called me a few months ago looking for a job
So that’s why you bailed out of that sweet gig,
The only “sweet” things about it were all the federal holidays and PTO.
Doing electrical work full-time is much more enjoyable. F* cube life.
F* cube life.
Yeah, that’s why I enjoyed working remotely in China. No matter how challenging the job was it was more fun when I could do it my way without a manager second guessing me in real time. When you’ve got somebody on the other side of the planet working while you sleep and much closer to the customer than you are you have to just let go and trust. Not something many people seem to be able to do when they have a choice.
“Doing electrical work full-time is much more enjoyable.”
Good for you, man. That’s the way to do it.
I would enjoy doing electrical work over my paper-pushing gov’t. job as well. I may have to look into that, but at my age, making any kind of change is more difficult.
I think a lot of people would like to live Apartment 101s work life.
I would, too. But it wouldn’t be electrical. I have no knowledge there.
The older I get, the more tempted I am to say “screw it”. One gets tired of the politics, the political correctness b.s., the people who do not do anything, the people who shouldn’t be in management, the miscreants who enjoy undermining others.
Why am I doing this? Dunno. Habit, I guess. Stupidity.
I like Blue Sky’s approach, too.
Ben runs his own, but probably deals with daily headaches that I don’t want to be bothered with. Dealing with wanna be freeloaders and their apparently determined efforts to place themselves in revolving and growing debt would really piss me off. I have little patience for individuals who are financially irresponsible.
I am a great tenant, but would likely be a poor landlord/property owner. Few could handle the tight ship I would run. I’d probably get sued more than once under false pretenses.
I truly hope Ben makes pantloads of money.
For me cube life is a steady secure job and pays well. I tried to do the lab thing, but it’s less pay and soft money (I.e. can get laid off any minute.). I’ve done enough bouncing around. And as a single woman, I need the money and stability.
“I need the money and stability.”
CBS Evening News
What the government shutdown will mean for federal workers
Julianna Goldman
CBS News
Jan 19, 2018 6:36 PM EST
WASHINGTON - The government shutdown will furlough roughly 800,000 federal workers, including Talana Morton-Smith, who is an IT specialist with the National Endowment for the Humanities. “We have mortgages, we have children in school, you know we have bills,” Morton-Smith said.
She’d be left without a paycheck until a new spending bill is passed, and so would congressional staffers. But their bosses, members of Congress, the president and the vice president would still be paid.
“The military will still go to work,” said Mick Mulvaney, Office of Management and Budget director. “They will not get paid.”
…
I am fortunate enough that I can keep six weeks of expenses in the checking account. Those who work paycheck to paycheck are not in great shape.
“And as a single woman, I need the money and stability.”
Don’t let yourself go.
something to ponder for the global warming folks as sun spot activity decreases…Just How Fast Can Things Freeze?
Posted Jan 14, 2018 when the weather goes against Global Warming, they flip it into volatility and claim cold is now the byproduct of Global Warming. Al Gore’s environmental group, [...]
Read More
NASA said, while scientists from the National Oceanic and Atmospheric Administration reported…
Yeah sure. Paid data fudgers who can’t even speak in scientific language. Did they tell you it isn’t warmer temperatures at all, rather higher nightly lows on the coast of Chile?
Sheep like to be led.
just buy risk assets and u will ok.
There’s no loving for guys wearing a belt and suspenders.
January 11, 2018 12:58 pm
Miami Bitcoin Conference No Longer Accepting Bitcoin Payments
By Adam K. Raymond
Organizers of the North American Bitcoin Conference said Thursday that they’ll no longer take bitcoin as payment for the $1,000 tickets they’re selling. Turns out, the transaction fees and processing times associated with the volatile cryptocurrency are just too much of a burden.
http://nymag.com/daily/intelligencer/2018/01/miami-bitcoin-conference-no-longer-accepting-bitcoin.html
Bahahahahahahaha … that made my day.
Meanwhile, Marketwatch just added a “Crypto” heading to their front page stock ticker. Wall St. is all in on this mania.
the casino economy. why get your hands dirty working?
Working is vastly overrated. Just ask any politician. Or banker, for that matter. It’s such a load when politicians “care” about “hard-working people”.
“Or banker, for that matter.”
You’ve got that part right; Pukes work, bankers reap.
“Wall St. is all in on this mania.”
+1 Taxpayers have their back!
Boulder, CO Housing Prices Crater 7% YOY On Record Low Housing Demand
https://www.movoto.com/boulder-co/market-trends/
Joe Piscopo As Frank Sinatra
https://www.youtube.com/watch?v=U3-2Z2rmG0w
Developers in the major urban areas, and especially in Nairobi, are at a loss as to what to do with property for which there are no takers.”
“are at a loss”—LOL, seriously.
No takers, you say? That’s about the easiest problem every to solve: just drop the price until it’s gone. There is a market-clearing price for everything, you just have to find it.
Oh, too big a loss, you say? Great, sit tight and wait for those losses to increase.
“It also had the biggest discounts in almost a decade for the tony Connecticut town. High-end homes that changed hands in the quarter had their prices cut by an average of 13.5 percent, the most since the last three months of 2008, when the housing market all but froze in the months after Lehman Brothers Holdings Inc. filed the largest bankruptcy in U.S. history, according to Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.”
The situation almost makes me wonder if another shoe is about to drop, or perhaps has already been dropped, though not yet acknowledged by the MSM.
Might cryptocurrencies benefit from the shutdown?
After all, it doesn’t exactly make the gubmint, and by extension its currency, look all that sound.
DC = Dolt Collective.
Bitcoin
Bitcoin Is Likely to ‘Totally Collapse and Be Forgotten,’ Nobel Prize-Winning Economist Says
By Brad Tuttle January 19, 2018
Robert Shiller, the Nobel Prize-winning Yale economist who predicted the housing bubble, says that he is mystified by the rise of Bitcoin—but ultimately regards the cryptocurrency as a speculative bubble that is likely to burst.
Speaking with CNBC in advance of the upcoming World Economic Forum in Davos, Switzerland, where Shiller will give a talk, the author of the best-selling book Irrational Exuberance said that Bitcoin “has no value at all unless there is some common consensus that it has value.”
Shiller compared the extraordinary rise in Bitcoin, which surged from around $800 to over $19,000 in 2017, before plunging below $10,000 lately, to “Tulip mania.” That’s the bizarre period in 17th-century Holland when spiking demand and rampant speculation drove the price of tulips through the roof—before the market collapsed, of course.
“We still pay for tulips even now and sometimes they get expensive,” Shiller said on CNBC. Similarly, Bitcoin “might totally collapse and be forgotten and I think that’s a good likely outcome, but it could linger on for a good long time, it could be here in 100 years.”
Shiller, who has previously said that the cryptocurrency is spreading “like a contagion,” also told CNBC this week that he “doesn’t know what to make of Bitcoin ultimately.”
Last week, billionaire investing genius Warren Buffett also expressed confusion over the rise of Bitcoin and other cryptocurrencies, and predicted that the bubble would inevitably pop. “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” Buffett said on CNBC. “When it happens or how or anything else, I don’t know.”
…
I am wondering what the fed will do to interest rates to protect the dollar? As China and Russia continue to offer oil contracts in other than USDs the dollar should continue to slide. Would the fed raise rates to protect the dollar realizing gov debt payments would balloon? If so it would crush stawks and shack prices.
Financial Times
US Dollar
Sliding US dollar creates a trap for investors
A rebound would send sure bets into reverse and spark turbulence across markets
Roger Blitz
yesterday
Betting on a stronger currency sounds sensible, particularly when market interest rates and inflation expectations are rising.
It is why the languishing of the US dollar this month, extending its hefty decline in 2017, has many in the foreign exchange market and broader investment universe trying to make sense of why the global reserve currency has such meagre support.
Crédit Agricole describes it as “a bit of a mystery”, while Bank of America Merrill Lynch calls it a “head-scratcher moment”. As Adam Cole at Royal Bank of Canada Capital Markets, points out: “Most of the cyclical indicators are positive, rate expectations are still rising and the Fed is delivering, and yet the dollar just isn’t reacting to any of that.”
…
https://www.bostonglobe.com/news/nation/2018/01/19/elizabeth-warren-native-american-problem-goes-beyond-politics/uK9pGOl4JBmqmRUcxTNj3H/story.html
Pocahontas the liar. She’ll lie about small things. Imagine the lies to come. She makes Obama look truthful and he’s the liar of liars.
Silly socialists.
You slur native Americans by using a name in a way you think is funny. Every time DJT calls Elizabeth “Pocohontas”, it is demeaning. I grew up on working summers on the reservation and attending pow-wows. All my friends when I was younger are native. Elizabeth Warren is a friend of native Americans and her politics reflect that. DJT is not. My ancestry is Danish. Our family has known this forever. But guess what? We dug into our genealogy research a bit and discovered that there is a fair amount of German too, maybe even more than Danish. But we still have Danish roots (I have a Danish surname). Warren never claimed to be full-blood native American, only to some roots.
But perhaps ironically, it is Trump who may be doing the most to push Native Americans into Warren’s camp. Every time the president labels Warren as “Pocahontas,” she reacts swiftly, calling out the president for using what she terms a racial slur.
“She stands up to the racial slap,” said Smith, the former Cherokee Nation chief. “Anyone who stands up for Indian Country,” he said, “it endears her to me.”
Silly socialist.
Uh, Sen. Pocohantas is the one who decided to lie about her background so she gets what’s coming to her. Maybe I’ll start telling people I’m West African? Will that endear me to anyone?