April 26, 2018

An Acknowledgment That Time Is Of The Essence

A report from KY 3 in Missouri. “If you’re a seller, you can feel pretty good about the market right now. Tyler and Samantha Richardson own Richardson Real Estate, but they double-up as house flippers like the ones so popular on TV these days, gutting and renovating homes. As to the reason more people are looking to buy homes now? ‘Interest rates are hanging around 4.5%,’ Tyler said. ‘But the feds have announced they’re going to make a couple more hikes this year so they’re gonna keep pushing. Next year you could see ‘em at 6%. Not to be a cheesy sales guy but now’s the time to buy if you want to capitalize and have more buying power.’”

“So if you’re on the look for a new home, their advise is to be aggressive. If you snooze, you lose. ‘One client wrote a personal letter about how their family moved here and tried to get that sentimental edge,’ Tyler recalled. ‘We’ve had clients just knock on the door and ask if they were interested in selling their home. It takes a foot-on-the-pavement approach. You have to go find that right home.’”

The Kitsap Sun in Washington. “Michael Bowes and Bea Schuster, the brother-sister real estate agent team, are part of a growing group of real estate agents, mortgage lenders and house flippers that, in an airtight market, find properties off-the-radar. In this, the ultimate seller’s market, even the most distressed of properties raise an agent’s eyebrow. It’s a ‘pressure cooker’ housing market, said Christin Webb, a broker with John L. Scott.”

“A $160,000 home in West Bremerton, for example, required 15 truckloads to remove all the trash from the squatters that inhabited it. ‘We could tell this home had good bones,’ said Schuster, who took a chance on it. The home’s now filled with all new counter-tops, flooring, fixtures and appliances. It could be easily sectioned off into a duplex, making it more attractive given the demand for area housing. And it’s now back on the market at $329,950.”

“They work quickly. The market could change. There’s an acknowledgment that time is of the essence. ‘The market’s very hot,’ said Mark Goodwin, a contractor that often works on homes whose sales are handled by Schuster and Bowes. ‘Quick flips are very important. You make checklists and punch them out. You don’t want to be caught holding the ball.’”

From Bloomberg on Florida. “A Jean Nouvel-designed condo project in Miami Beach, Florida, just got the area’s biggest residential construction loan in almost a year, putting the luxury tower on a path to completion in a market that’s saturated with others. New York developer Michael Stern closed last week on $137 million in financing from Madison Realty Capital to build Monad Terrace, Stern said in an interview. It was the largest loan for housing construction in Miami-Dade County since June, according to Real Capital Analytics Inc.”

“Cranes are crowding the skyline in Miami Beach as builders add more condos in a city that’s already working through a glut of them. There are 2,963 condos currently listed for sale in Miami Beach, and they have spent an average of 199 days on the market, according to CraneSpotters.com. In the South Beach enclave, where Stern is building Monad Terrace, condo sales fell 11 percent in the first quarter from a year earlier to 242, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Buyers got discounts of 10.4 percent on average, the firms said.

“‘It’s a good bellwether for the market,’ Stern, who’s also building a condo tower on Manhattan’s Billionaires’ Row, said of the financing. ‘We expect it to have a huge impact on sales.’”

From WWD on New York. “Carmen Marc Valvo is struggling to sell his Hamptons hideaway. The high-end evening wear designer has had to lower the price of his Bridgehampton house by more than $1 million to $6.95 million after failing to find a buyer since it hit the market last June. Valvo appears to be the latest victim of the slowdown in the Hamptons’ luxe housing market. The glitzy summer hot spot’s high-end property market isn’t as strong as it once was on the back of political and economic uncertainty and Valvo is one of the many homeowners who are having to become more realistic on pricing in order to secure a sale.”

The Financial Times on Connecticut. “Local lawmakers need to find new sources of income to alleviate the state’s budget crisis created by years of overspending and an over reliance on tax dollars from the finance sector. Connecticut has raised income tax three times in the past decade, but now, struggling to meet its pension and healthcare obligations to state workers and facing a projected deficit of $240m for this financial year alone, it is under pressure to find a solution.”

“Marquee companies, most recently General Electric, have shifted their headquarters away from the state, denting tax revenue and hitting property prices. Barry Sternlicht, CEO of Starwood Capital, left the state for Florida in 2016 while declaring Greenwich the worst housing market in the US. ‘You can’t give away a house in Greenwich,’ he said at the time.”

“According to data from Miller Samuel, a real estate appraisal firm, and Douglas Elliman, a real estate brokerage, sales of single family homes in the town in the first quarter of 2018 were down 22.2 per cent from the previous year. One of the town’s zip codes, 06831, ranked the 65th-wealthiest district in the country in 2010, had slipped 300 places by last year with the median sales price dropping from $1.1m to $895,000 over the same period, according to PropertyShark. ‘I would short Greenwich real estate if I could,’ says one fund manager who lives in the town and asked not to be named.”

“Thomas Peterffy, the billionaire founder of Interactive Brokers, also left for Florida. His 80-acre estate in Greenwich, the largest in the town, sat on the market for more than two years. With an initial price tag of $65m, the home eventually sold for $21m.”




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124 Comments »

Comment by Ben Jones
2018-04-26 07:48:00

‘got the area’s biggest residential construction loan in almost a year, putting the luxury tower on a path to completion in a market that’s saturated with others’

Fly away Yellen bucks, into the dark night.

 
Comment by Ben Jones
2018-04-26 07:49:40

‘Even with a 30% y-o-y decrease, TriBeCa pulls through as NYC’s priciest neighborhood’

There’s a table at the bottom. Oh dear, Brooklyn…

 
Comment by Ben Jones
2018-04-26 07:52:38

A reader sent this in:

‘WeWork, the office-leasing startup, is looking to raise more cash through its first bond sale, despite already raising billions in venture funding. WeWork is planning to sell $500 million (£358 million) in high-yield notes, per reports from the Financial Times and Bloomberg this week.’

‘And bond documents reviewed by the two publications reveal some startling numbers — here’s a summary: WeWork owes $18 billion in rent. The company has more than 14 million square feet of office space, with suitably massive lease obligations, though WeWork has the option of closing locations if it can’t pay those bills.’

‘WeWork is burning cash. Revenue from memberships more than doubled last year, to $822 million, but expenses also more than doubled, to $1.81 billion. Net losses came to $934 million, according to Bloomberg.’

‘It isn’t really about tech startups. About 20% of WeWork’s occupants are in financial, legal, and business services, while 15% work in software. ‘

Comment by Apartment 401
2018-04-26 11:05:42

WeWork has free beer.

Comment by Albuquerquedan
2018-04-26 11:47:01

That makes my wee wee work.

Comment by In San Diego
2018-04-26 14:07:10

You don’t buy beer, you just rent it.

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Comment by Anonymous
2018-04-26 11:54:59

Tech bubble 2.0, indeed!

 
Comment by MGSpiffy
2018-04-27 00:26:48

Wait? Whut? Another rent-seeking middleman??

(Posting from a remote location literally on the Gulf of Mexico)

 
 
Comment by Ben Jones
2018-04-26 07:55:32

‘Airbus has secured an additional order for one H225 with the Japan Coastguard (JCG), extending on its existing fleet of eight Super Pumas. The Asian Sky Group first quarter suggests that the H225 is moving towards a buyers’ market. The average price of the H224 has fallen since the fourth quarter of 2017 from $25.8 million to $19 million. So far in 2018, one H225 has been sold in Asia.’

Comment by In San Diego
2018-04-26 10:19:12

I was going to interview with Airbus’s helicopter group, until I learned how paltry the pay was. The job was in Ft. Collins and they had no trouble filling it despite the low pay.

Comment by Mafia Blocks
2018-04-26 11:32:40

You’re better off staying with Spacely Sprockets.

Comment by Sam (SW)
2018-04-26 11:57:23

Ha! Jetson!!!!

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Comment by Albuquerquedan
2018-04-26 12:20:36

Why do you need a helicopter when you have a flying car?

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Comment by liquideye
2018-04-26 12:18:54

Guy I worked with just got an offer with Nvidia doubling his pay and lets him work from home in flyover country. Maaaaggggaaa!

Comment by Carl Morris
2018-04-26 13:05:48

That’s what I’m talking about. The only problem is when the economy noses over and he gets laid off in flyover country. Or China in my case.

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Comment by In San Diego
2018-04-26 13:39:13

Kind of where I am right now. I WFH but get paid Silly Valley pay (Maybw a bit on the low side) which seems to be 30-40K more than local wages.

 
Comment by liquideye
2018-04-26 18:04:50

All work situations are temporary; only the duration remains TBD. Once you realize that, you get flexible, network, fly low (dont spend like crazy) and appreciate what you got while you got it.

I took a gig with a 1.5 year duration working in my version of paradise and am riding the wave - in more ways than one - for 12 years now. I’d like to see more people do it - screw the high prices, traffic and fascists lording over everyone.

 
Comment by MacBeth
2018-04-26 19:54:24

“All work situations are temporary; only the duration remains TBD. Once you realize that, you get flexible, network, fly low (dont spend like crazy) and appreciate what you got while you got it.

“I took a gig with a 1.5 year duration working in my version of paradise and am riding the wave - in more ways than one - for 12 years now. I’d like to see more people do it - screw the high prices, traffic and fascists lording over everyone.”

FANTASTIC!

 
Comment by oxide
2018-04-27 05:42:09

It surprises me that these companies don’t force a pay cut for the full-time W@H in flyover country. The gov could do it very easily; simply base the locality pay on the W@H address. But I don’t think they do.

 
Comment by Mafia Blocks
2018-04-27 05:55:30

Hey Donk

 
Comment by Carl Morris
2018-04-27 09:45:20

It surprises me that these companies don’t force a pay cut for the full-time W@H in flyover country. The gov could do it very easily; simply base the locality pay on the W@H address. But I don’t think they do.

They use a different method. Let you ride the gravy train until the moment they can replace you with a cheaper option and then abandon you in flyover country. In most cases they don’t pay the big bucks for too long. In the long term cases it means they really need YOU and they’d have to pay regardless.

 
 
 
 
 
Comment by Mortgage Watch
2018-04-26 08:35:12

Hood River, OR Housing Prices Crater 16% YOY As Speculators Default At Record Rates

https://www.movoto.com/hood-river-or/market-trends/

 
Comment by Dave
2018-04-26 08:39:41

Can someone please inform the Nat. Realtor’s Association what’s going on? Here is what they are peddling on CNN.com today:

“With a flourishing labor market, steady economic growth and wages finally starting to rise, home prices aren’t expected to slow down anytime soon.”

“There is no let-up to rising home prices,” said Lawrence Yun, chief economist at the National Associate of Realtors, in a statement Tuesday morning. “Even as the tightening job market is starting to boost incomes, those looking to buy are facing a double whammy of fast rising home prices and higher mortgage rates.”

Comment by Mafia Blocks
2018-04-26 09:00:23

As a wise man once said, “Realtors are liars.”

He’s right.

Comment by Apartment 401
2018-04-26 11:08:16

Buy a house today and your lifetime of losses will be incalculable.

Comment by Mafia Blocks
2018-04-26 12:09:24

You can say that again.

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Comment by In San Diego
2018-04-26 13:46:59

Actually, the loses are very easy to calculate, but few can be bothered. All they can see is “property ladder” and endless appreciation.

Even if the appreciation never ended, since few pay it off (and continue to borrow more to pay for cars and other stuff) they reach retirement and still owe a huge wad on the shack with a big monthly nut. Selling and “downsizing” won’t work unless they move to oil city, and few want to do that. Most will find that they will have to continue working, assuming they can still find work, to supplement their Social Security and meager 401K savings.

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Comment by BlueSkye
2018-04-26 16:06:51

It’s worth doing the math, but it won’t help if you are living in the mania.

Four months of retirement and I am doing fine. Spending less than social security and haven’t touched my savings. Not paying interest is essential.

 
Comment by In San Diego
2018-04-26 22:23:26

Not paying interest is essential.

Or any other monthly nuts that gobble up income.

 
Comment by oxide
2018-04-27 05:58:56

More like they reach retirement AGE but still don’t retire. They hocked the house to send the kids to college, and then want to stay in their expensive area “to be near the grandchildren.”

 
 
 
 
Comment by Mr. Banker
2018-04-26 09:37:46

… those looking to buy are facing a double whammy of fast rising home prices and higher mortgage rates.”

To a totally dumbed-down population of ignorant pukes these two things appear to be compatible.

 
 
Comment by nolookpass13
2018-04-26 09:14:10

“Not to be a cheesy sales guy but now’s the time to buy if you want to capitalize and have more buying power.”

Except you are a cheesy sales guy.

Comment by BlueSkye
2018-04-26 10:49:07

Now’s the time to buy if you want to see your (yet to be earned) money flushed down the toilet.

Comment by Mr. Banker
2018-04-26 11:14:02

Or sent to me.

😁

 
 
 
Comment by Mortgage Watch
2018-04-26 10:14:25

Keller, TX Housing Prices Crater 6% YOY As Dallas Housing Correction Advances

https://www.movoto.com/keller-tx/market-trends/

 
Comment by Ben Jones
2018-04-26 10:19:24

‘They work quickly. The market could change. There’s an acknowledgment that time is of the essence. ‘The market’s very hot,’ said Mark Goodwin, a contractor that often works on homes whose sales are handled by Schuster and Bowes. ‘Quick flips are very important. You make checklists and punch them out. You don’t want to be caught holding the ball.’

Wait a minute Mark. Are you suggesting this is temporary and the people buying these overpriced flips might get burned?

Comment by Carl Morris
2018-04-26 10:46:59

It’s almost like they’ve been caught holding the ball before.

 
 
Comment by Ben Jones
2018-04-26 10:21:45

From the first link:

‘Tyler and Samantha Richardson own Richardson Real Estate, but they double-up as house flippers like the ones so popular on TV these days, gutting and renovating homes…”We seem crazy,” Samantha says with a laugh.’

You can see the reality show thing has people acting like reality show actors.

‘But to flippers? “I would rather look at something like this,” she said while surveying a completely gutted home. “And be able to put my touches on it. The worst house we ever renovated was horrible. And we (fixed it up and) sold it to my mother.”

Sticking it to good ol Mom.

Comment by Mafia Blocks
2018-04-26 10:29:03

DebtDonkeys and HousingHens.

 
Comment by Dave
2018-04-26 10:39:48

Who are these people!

Comment by Mr. Banker
2018-04-26 11:52:55

They are God’s gifts.

 
 
Comment by Sean
2018-04-26 13:20:28

This another reminder to folks why you should not flip houses:

Realtors are the Level One investor. They get the best of the best houses to flip.

If they pass, the Realtors turn to Level Two investors. Surgeons, hedge fund manager types who have a bunch of money to invest and don’t care much about the risk. Realtors buy/sell and get kickbacks from their contractor friends.

If they pass, it’s the poor Level Three schmucks who watch the flipper shows thinking there I see money to be had. No Real Estate analyst would pass up a chance to get some easy flip money.

So before you see an awesome ‘flip potential’ on the market, remember you are getting the worst cut of the meat.

 
 
Comment by TIC TOK
2018-04-26 10:37:38

I had a job offer in CT not long ago. Decided to turn it down as the taxes were too much. High income tax, high sales tax and $20k property tax on a $500k home.

And still it’s not enough for the progs running the state.

It will never be enough.

Comment by aNYCdj
2018-04-26 10:52:07

yup Financial aid for ‘dreamers’ becomes a reality in Connecticut

https://ctmirror.org/2018/04/25/financial-aid-dreamers-becomes-reality-connecticut/

Comment by Albuquerquedan
2018-04-26 11:45:05

The State’s residents will have to deal with the nightmare of higher taxes.

Comment by aNYCdj
2018-04-26 12:27:43

More More More Government confiscations

NYC’s War On E-Bikes Takes Toll On Immigrant Delivery Workers

http://gothamist.com/2018/04/26/e-bike_immigants_nypd_nyc.php#photo-1

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Comment by Anonymous
2018-04-26 16:10:10

“Over roughly ten hours on a Saturday in January, Zhu biked nearly 60 miles to make 34 deliveries; he said he earned a little more than $80.

“Being a delivery worker is the lowest rung of work in society,” Zhu said.”

There, but for the grace of God, go I…

 
Comment by In San Diego
2018-04-26 22:15:18

On the bright side, he must be very slim and fit.

 
 
 
 
Comment by rj not in chicago anymore
2018-04-26 12:27:07

CT is ILLANNOY’s step child.

 
Comment by 2banana
2018-04-26 14:59:57

A while ago I received a job offer (engineer) in SF.

About a 20% raise.

I told them you need to add another 40% to the offer just to make the offer comparable to my OLD salary based on COST OF LIVING in SF.

Comment by Tik Tok
2018-04-26 18:37:41

I get calls from recruiters all the time about jobs in SF/SJ. I don’t even bother going into details, I just say thanks for calling (or emailing), but given the taxes and cost of living, I’m not going to waste either of our time since I know you won’t pay me what it would take for me to move there.

Comment by Ethan in Northern VA
2018-04-26 20:39:12

My current employer is solving that issue by opening an office in Atlanta and backfilling attrition from Silly Valley with people in Atlanta.

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Comment by In San Diego
2018-04-26 22:12:42

The problem with that is that sometimes you can’t find the people you need in other places. People who understand OS internals and who can work on say kernel or hypervisor virtualization code are different from guys who write Javascript front ends or SQL code.

 
Comment by MGSpiffy
2018-04-27 00:30:36

Amen to that, SD. And they are getting harder and harder to find. The people who only got started in the last 10 years or so ago tend to know nothing about what goes on “under the hood” (and that’s the ones who supposedly specialize in C++)

 
Comment by drumminj
2018-04-27 19:02:38

(and that’s the ones who supposedly specialize in C++)

Yeah..the recent ‘front-end devs’ know far less. I was really surprised to have a coworker not be familiar with the issues related to floating-point values and why “1.01″ isn’t really “1.01″.

I suppose this is an indication I fall in the old curmudgeon “kids these days” camp?

(to be fair, I’m a ‘front-end dev’ these days but that’s a somewhat recent change)

 
 
 
Comment by Mafia Blocks
2018-04-26 18:49:10

It’s good to see eng’s getting job offers out there. There are enough overpaid keyboard tappers.

 
Comment by In San Diego
2018-04-26 22:19:18

A while ago I received a job offer (engineer) in SF.

About a 20% raise.

I don’t think that even a 100% raise would cover the increased cost of living and taxes.

 
Comment by oxide
2018-04-27 06:06:26

So I guess Engineer is a job that Americans won’t do, eh? Time to ramp up the H1-B lobby machine.

 
Comment by rms
2018-04-27 06:39:44

“A while ago I received a job offer (engineer) in SF.”

There are a number of Civil Engineering jobs in the San Jose area that will fetch $120k/yr, but you won’t get far on that unless your wife is a Pharmacist. It’s just too expensive to raise a family in the south bay right now. Employee turn-over is no longer a worker thing… it’s now affecting the professions.

Comment by JT
2018-04-27 07:33:26

I agree, I used to live in East Bay till Jan this year. we decided to move to NJ for another job. (I can’t say the housing price is much cheaper for some neighborhoods here, but you don’t see 25 biddings on one house)
Property taxes here in NJ is insane though, but the school system is better comparing to most parts in SF.
But srsly, when is the bubble going to burst? the rate is climbing up!

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Comment by Mortgage Watch
2018-04-26 10:54:10

Arlington(Rosslyn), VA Housing Prices Crater 27% YOY As Flood Of Defaulted Housing Slams Market

https://www.zillow.com/north-rosslyn-arlington-va/home-values/

*Select price from dropdown menu on first chart

Comment by azdude
2018-04-26 11:15:23

i have a ticker of rising house prices on my computer.

Comment by BlueSkye
2018-04-26 12:09:02

Got enough equity yet for some box wine?

 
 
 
Comment by Apartment 401
2018-04-26 11:11:56

The Donald took some time out from his busy day with the President of France yesterday to retweet a Kanye West tweet.

Best. Timeline. Ever.

Comment by liquideye
2018-04-26 12:03:55

And Shillary started following him on twitter - odd that she would now considering that the media spends 24/7 claiming that hes a mentally troubled alt-right nazi along with the Dilbert guy and the rest of the deplorables.

Truly amazing times we live in.

Comment by tresho
2018-04-26 12:28:42

Truly amazing times we live in.
Yup. Got a relative who actually once upon a time worked with Scott Adams. That relative hates Trump but likes Adams’ cartoon work, said it was a valuable description of a modern engineer’s work life.

Comment by Tik Tok
2018-04-26 18:43:52

An exec in a company I worked for sends out a newsletter type thing weekly. In it he talks about, among other things, books he’s reading. A while back he mentioned Peter Thiel’s book and said something like while I think Thiel is an awful human for supporting Trump, his ideas are still terrific. Fair enough, the guy is mature enough to separate his feelings about the man vs the man’s ideas. But since this company is a hard core leftist echo chamber, he was pilloried by his “progressive and inclusive” co-workers for daring to do that. I love diverse liberals who hate anyone who doesn’t think exactly like them.

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Comment by In San Diego
2018-04-26 22:07:39

It’s sooooo easy to accidentally fall out of line and find yourself being purged. I’m guessing that since he has now failed the purity test that you will soon be hearing about his resignation, and that he’s leaving the firm to “spend more time with his family”.

 
Comment by tresho
2018-04-27 11:56:31

He might as well have worn a MAGA hat to work. And a T-shirt with a bulls-eye, front & back.

 
Comment by rms
2018-04-27 12:16:37

Could the exec request some diversity training?

 
Comment by tresho
2018-04-27 15:23:14

Could the exec request some diversity training?
Oh, he’ll get “trained”, fer sure.

 
 
 
 
 
Comment by azdude
2018-04-26 11:42:51

when home prices go up it stimulates the consumer economy. It sure beats working for a living.

Comment by Mr. Banker
2018-04-26 11:51:08

When home prices go up it stimulates my monthly income. And you are correct, it does beat working for a living.

 
Comment by Albuquerquedan
2018-04-26 12:19:05

High debt loads depress consumer spending. Thus, the initial result of a housing bubble is to promote consumer spending as the new loan amounts enter the economy, however as they are paid back Mr. Banker drains the house buyers like a vampire. Thus, the need to have open borders to create new victims to be debt donkeys. Effectively it works like a Ponzi scheme. It also is similar to seven year car loans, at first they promoted vehicle sales, now they are starting to depress them since people have cars with no equity and cannot get a new loan since many are too far underwater to afford the payments even when the dealer is willing to finance the sale.

Comment by Mr. Banker
2018-04-26 13:45:53

“It also is similar to seven year car loans, at first they promoted vehicle sales, now they are starting to depress them since people have cars with no equity and cannot get a new loan since many are too far underwater to afford the payments even when the dealer is willing to finance the sale.”

To amortize is “to put to death”. If you amortize a loan you put it to death by paying it off.

When you drive a car you are putting its value to death. If you put your car’s value to death at a rate that is faster than the rate the value of the loan that financed the car is put to death then you are an idiot and also you are one of my preferred customers and I truly hope you spawn many, many children.

Comment by rms
2018-04-26 14:04:07

Seems like every car commercial during Jeopardy has varying amounts down, but the payments are $200/month. The balloon payment is flashed briefly in the fine print.

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Comment by azdude
2018-04-26 15:11:40

they flash some fine print bs on the bottom of the screen u cant even read. Then they tell u how much your gonna save by downing an overpriced car. They never mention the price until your in the boiler room with earl.

 
Comment by Anonymous
2018-04-26 16:12:20

These things have balloon payments at the end?!

What percentage of people getting these loans actually understand that?

 
Comment by Mr. Banker
2018-04-26 16:51:11

The same percentage of people who fully understand the definition of “adjustable”.

 
 
Comment by Tik Tok
2018-04-26 18:46:33

People refinance negative equity into a new loan. It’s a perpetual loan rolled into a new vehicle over and over. At some point it has to end, but that point isn’t here yet.

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Comment by In San Diego
2018-04-26 14:03:09

“High debt loads depress consumer spending.”

As long as “homeowners” can tap into their equity the good times will roll. I saw parking lots chock full of new expensive cars in north San Diego county and the restaurants were packed with people waiting in line to get in. Of course, once the easy money spigot gets shut off it will be a different story.

 
 
 
Comment by Anonymous
2018-04-26 11:57:46

“With an initial price tag of $65m, the home eventually sold for $21m.”

Now THAT is a haircut!

Comment by drumminj
2018-04-27 19:05:02

Now THAT is a haircut!

alternatively: “now _that_ was a wishing price!!”

 
 
Comment by Mortgage Watch
2018-04-26 12:00:46

Kensington, MD Housing Prices Crater 7% YOY As Federal Budget Cuts Deepen DC/NoVA Housing Correction

https://www.movoto.com/kensington-md/market-trends/

Comment by azdude
2018-04-26 15:39:22

put down your natty lite and try one of the pinapple sculpins from ballast point. you will never drink that p@ss water again.

Comment by Mafia Blocks
2018-04-26 20:52:18

Hello DumpsterFire

Anchorage, AK Housing Prices Crater 6% YOY

https://www.movoto.com/anchorage-ak/market-trends/

 
 
 
Comment by rj not in chicago anymore
2018-04-26 12:30:53

This……
Robert said. ‘They have 24 hours before the seller gets two to three offers. It’s a stampede getting into a house. I’ve never seen this.’”

Plus this…..

It’s a ‘pressure cooker’ housing market, said Christin Webb, a broker with John L. Scott.”

Equals ?????? Fill in the blank HBBer’s :)

Comment by whirlyite
2018-04-26 15:43:12

“Cooked goose” comes to mind.

 
Comment by Ol'Bubba
2018-04-26 15:49:13

Equals a good time to be a seller.

 
 
Comment by rj not in chicago anymore
2018-04-26 12:34:52
Comment by Mr. Banker
2018-04-26 13:33:16

It appears that the population of Great Britain is just as dumbed-down as the totally dumbed-down population of The Colonies.

 
Comment by rms
2018-04-26 13:55:15

“I Was Rich And Gorgeous, Now I’m Just Broke And Fat”
https://www.youtube.com/watch?v=jqDLqWNA9Eg

 
Comment by Anonymous
2018-04-26 16:14:37

Reminds me of the Bankrupt by Beanies family…

https://youtu.be/PgDsyj5eLmo

Comment by Mr. Banker
2018-04-26 16:46:39

A nation of dummies.

 
 
Comment by oxide
2018-04-27 06:33:43

My guess is that she keeps going to weddings in the hope of meeting a guy for herself.

 
 
Comment by rms
2018-04-26 14:22:49

America’s favorite dad might do a dime each with his homies.

Comment by azdude
2018-04-26 15:28:10

my house went up a 100.00 today.

Comment by Ol'Bubba
2018-04-26 15:53:19

According to zillow, my house went up 4.6% in the past 30 days.

Comment by azdude
2018-04-26 16:04:48

nice i like to hear good things r happening to risk takers.

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Comment by In San Diego
2018-04-26 22:01:51

According to zillow, my house appreciated 10K in just 30 days, which is pure and unadulterated horsesh!t,

 
 
 
 
Comment by Mafia Blocks
2018-04-26 19:45:52

Housing my good friends….. Housing.

Albany, OR Housing Prices Crater 16% YOY

https://www.movoto.com/albany-or/market-trends/

Comment by Marco
2018-04-27 07:36:50

Hard to tell whats happening in Albany. Lots of traffic and huge trucks racing around. Been looking for a used pickup and the prices are laughable what people want. ($4000 over blue book) Going to wave off till things slow down and people are forced to sell. I live in the Corvallis area and it just seems calmer and safer here. Prices are still holding up here, but you get the gut feeling that this housing run has peaked.

 
 
 
Comment by Mortgage Watch
2018-04-26 15:56:05

Poway, CA Housing Prices Crater 7% YOY As San Diego County Enters Recession

https://www.zillow.com/poway-ca/home-values/

*Select price from dropdown menu on first chart

Comment by azdude
2018-04-26 16:31:02

u have talked about a recession for 10 years. The trend is your friend.

Comment by MacBeth
2018-04-26 20:00:37

And others here have talked about imminent stock market crashes for 4-6 years.

And others predicted $20/barrel oil prices, and still others predicted $100/barrel oil prices.

The trend is your friend…until it isn’t.

And so it goes.

Comment by In San Diego
2018-04-26 21:32:31

And others predicted $20/barrel oil prices

If I’m not mistaken, it was HA who was predicting that.

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Comment by oxide
2018-04-27 06:36:37

Because Arab oil costs $6 to produce. And I’m Heidi Klum.

 
Comment by Mafia Blocks
2018-04-27 06:39:42

Production cost for US oil is $6/bbl. Saud oil is $4/bbl as of 2016.

You’re Donk Craterton, not Heidi Klum.

 
Comment by rms
2018-04-27 06:46:54

“And I’m Heidi Klum.”

Recently saw a photo of her… aging nicely.

 
Comment by tresho
2018-04-27 11:59:08

“And I’m Heidi Klum.”
Appearances are so deceiving. And temporary. But I still like them.

 
 
 
 
Comment by Mafia Blocks
2018-04-26 20:48:46

Housing my friends.

Dewey Beach, DE Housing Prices Crater 11% YOY

https://www.movoto.com/dewey-beach-de/market-trends/

 
 
Comment by azdude
2018-04-26 16:07:06

I was forced to cover my shorts in amzn today.

 
Comment by Mr. Banker
2018-04-26 17:12:03

Seeing is believing!

Bahahahaha … you pukes who believe that should watch this video …

https://youtu.be/ohmajJTcpNk

 
Comment by Apartment 401
2018-04-26 17:19:51

Loanowners are loosers.

You are debt slaves, you don’t “own” anything…

Comment by azdude
2018-04-27 07:32:31

renting from the bankers? Seems they do let u paint the walls.

 
 
Comment by aNYCdj
2018-04-26 17:30:34

Hey Red Sox fans you are next to be indoctrinated

BOSTON (1010 WINS/AP) — Boston has approved a plan to change the name of Yawkey Way, the street outside Fenway Park named in honor of a former Red Sox owner some have said was racist.

https://1010wins.radio.com/articles/name-yawkey-way-outside-fenway-park-changed-over-racist-past

Comment by tresho
2018-04-27 12:00:15

Call it “Racis Way” instead.

 
 
Comment by Mortgage Watch
2018-04-26 18:13:51

Beverly, MA Housing Prices Crater 17% YOY As Boston Housing Correction Expands

https://www.movoto.com/beverly-ma/market-trends/

 
Comment by aNYCdj
2018-04-26 18:16:49

San Fran Junkie heaven

Drug Users Take Over Corridors Of San Francisco Civic Center BART Station

http://sanfrancisco.cbslocal.com/2018/04/25/drug-users-san-francisco-civic-center-bart/

Comment by In San Diego
2018-04-26 22:49:46

The thing about stuff like this is that it happens gradually and people simply get used to it and accept it as normal. It makes me glad to live in my sleepy little burg (though I know it won’t last)

Comment by azdude
2018-04-27 07:34:19

looks like amzn could be at 2000 soon.

 
 
 
Comment by azdude
2018-04-27 06:31:18

” Only in America can a company’s operating numbers go down the drain and yet still be credited with a headline GAAP-manipulated net income “beat.” I find much humor in this absurdity. Others might find it, upon close examination, to be pathetic or even tragic.

After all, it doesn’t take much investigation to see that underneath this mountainous eruption of auto debt there is a nasty cycle of defaults brewing, and that if any company happily moved the metal to any borrower who could fog a rearview mirror, it was General Motors. Again.”

http://davidstockmanscontracorner.com/cycling-blindly-in-chartland-but-look-out-below/

 
Comment by azdude
2018-04-27 07:11:35

Go long fb amzn netflix and alpahbet! There is no downsdie thx to central bank put.

 
Comment by Mortgage Watch
2018-04-27 07:37:14

Holmes Beach, FL Housing Prices Crater 5% YOY As Boomers Flood Market With Retirement Properties

https://www.movoto.com/holmes-beach-fl/market-trends/

 
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