You’ll Find Money, It Falls From The Sky
A report from WMUR in New Hampshire. “New Hampshire is in the midst of a record-breaking housing market. Real estate experts said sellers can often get above their asking prices, while buyers must battle in a bidding war. More than 17,000 homes were sold in the state last year, the most ever in one year. The median price was $266,000. The only time the median price was higher was in 2005, before the market crashed, when it was $270,000. Realtors recommended that if you’re going to buy, be prepared to act quickly. ‘You have to use all your tricks,’ said Realtor Ofe Polack of Coldwell Banker. ‘This is a race. You have to be ready like you are for any race.’”
“Polack said houses that are furnished nicely, priced right and in a good location are selling in 24 hours. She recommended that buyers have a preapproval letter on hand, be ready to stretch their budgets and consider distinguishing themselves from the pack by writing a letter to the homeowners. As the housing market continues to improve, so, too, does the economy. ‘In general, we’re just paying more for housing, and that’s good for banks, because banks are getting larger loans at higher interest rates,’ said Michael Tasto, professor of economics at Southern New Hampshire University.”
From Fox 4 Kansas City. “It looks so easy on those HGTV home improvement shows. It’s no secret that Johnson County, Kansas, is enjoying its hottest real estate market ever. The high demand for quality housing in Kansas’ most-populated county has house-flippers competing for homes at the same rate as families and realtors. What looks like an old house to you looks like a goldmine to others. Drive down most any street in Overland Park, Prairie Village or Leawood, and you’ll see the mobile dumpsters and hear power tools working in the distance. The sound of people working rings like a cash register in this industry.”
“The race to purchase distressed houses still includes flippers who don’t have experience. John and Melanie Zahner said it’s been three years since they attended a seminar on house rehabbing they heard advertised on the radio. ‘They were saying, ‘You’ll find money. It falls from the sky,’ Melanie Zahner laughed.”
The Cullman Times in Alabama. “Cullman has garnered plenty of accolades for its expanding economy and low unemployment, but during this burgeoning economic drive the population has grown at a slow pace. The Cullman Area Chamber of Commerce has launched a housing study that will seek to verify one that is already suspected — a lack of housing. ‘One point that stands out is that since 2014, the number of housing units sold has increased but the inventory of housing has decreased,’ said Chamber of Commerce CEO Leah Bolin. ‘Marshall County has grown more population while Cullman has enjoyed tremendous economic growth. We think it comes back to housing. While this has occurred, the average price has increased and affected affordability.’”
From KGW 8 in Oregon. “The housing market has slowed a little in Portland. The real estate website Zillow even says it’s a buyer’s market right now. But prices are still high. According to Zillow, the median home price is just under $460,000. One developer, Eli Spevak, is using some city incentives to get a few more affordable homes on the market. It comes as Portland city planners are trying to re-zone areas to fit more people into established neighborhoods. Instead of high-rise apartments, or McMansions, the new zoning will allow for more duplexes, triplexes or multi-family structures.”
“Asking price for those 3-bedroom, affordable townhomes is $219,000. The rest of the units will be market rate priced, $300,000 to $500,000. ‘That way I know there’ll be some legacy, so if prices go through the roof again, some homes will stay affordable,’ Spevak said.”
“A lot of developers in Portland are hated; seen as bulldozing perfectly good or historic homes, or building ugly, overpriced ones.”
The Houston Chronicle in Texas. “A half-dozen flooded houses mostly in Meyerland will hit the auction block next month, a process expected to help set the value of Harvey-damaged properties in the area. Meyerland was one of the hardest hit neighborhoods during Hurricane Harvey and previous storms. It now has a glut of properties for sale. A recent count of listings by real estate agents came to 147. ‘Sellers have been hit by all these low-ball offers. They just don’t know how to act or react,’ said Houston real estate broker Paul Lynn, who is handling the auction. ‘Here’s another way to get it sold, to get confirmation of what the value is. Meyerland is really soft and there are a lot of for-sale-by-owners that are out there, too.’”
The Democrat and Chronicle in New York. “A federal grand jury has indicted the son and nephew of Rochester real estate mogul Robert ‘Bob’ Morgan on fraud charges. Todd and Kevin Morgan are named in a 62-count, 32-page indictment along with business associates Frank Giacobbe and Patrick Ogiony, each of Aurora Capital Advisors LLC, a Buffalo-based mortgage broker. They are charged with conspiracy to commit wire fraud and bank fraud; wire fraud; and bank fraud.”
“The charges involve seven properties, including apartment complexes in Buffalo, Syracuse and Avon. ‘The defendants are charged with fraudulently obtaining over $167.5 million worth of loans relating to seven residential apartment complexes located here in New York and in Pennsylvania,’ U.S. Attorney James P. Kennedy said in a news release, also including properties in the Pittsburgh, Pennsylvania area that were the subject of a recent search warrant that was mistakenly unsealed last week.”
“Kennedy continued: ‘As a result of the fraudulent conduct alleged in this indictment, defendants’ conduct not only unjustly enriched them but threatened to undercut the very foundations upon which our mortgage banking and investment systems are based.’”
“Between March 2011 and June 2017, the Morgans, Ogiony, and Giacobbe allegedly defrauded financial institutions such as Arbor Commercial Mortgage LLC and Berkadia Commercial Mortgage and government-backed enterprises like the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae).”
“Authorities allege the Morgans received inflated loans to pay off debt that didn’t exist. Prosecutors said the four acted in a variety of manners to persuade mortgage lenders to issue loans for residential apartment complexes for ‘greater amounts than they would have issued had they known the truth’ and ‘that the lenders would not have issued at the time of issuance had they known the truth.’”
“They allegedly inflated the rent rolls, the records that showed how many people were residing in their properties, and with higher rent rates than were actually being charged. They also allegedly ‘conspired to inflate income for storage units’ at one of the properties. In an email, Giacobbe asked Kevin and Todd where an extra $72,000 in storage unit income came from, and Kevin replied, ‘Magic.’ Prosecutors allege the defendants provided lenders with ‘fraudulently altered leases.’”
“At one apartment building in Pennsylvania during a lender-required inspection for Freddie Mac in January 2015, the Morgans allegedly tried to make some of the apartments appear occupied by turning on the radio and placing mats with shoes outside the apartments. Giacobbe also allegedly arranged for a woman to ’stage an apartment’ to make it appear occupied and to tell inspectors that her boyfriend was asleep in the bedroom.”
‘A federal grand jury has indicted the son and nephew of Rochester real estate mogul Robert ‘Bob’ Morgan on fraud charges.’
Remember the poster here who said, “these loans will probably be OK”?
Crow time.
Isn’t it interesting that despite being involved with over 30,000 apartments, in multiple states and being charged with fraud against some of the biggest loan guarantors, this has only been picked up by local NY press?
Mel Watt, you gotta statement? Pedal to the metal?
can’t fire me ” smelly mel watt
folks on welfare be deservin morts ,yo”
I say, give them all the morts they want. And then put their crap on the sidewalk the moment they miss PITI-payment #3.
But maybe Mel would like to hand out both mortgage AND foreclosure moratoria at the same time. Effectively, free housing indefinitely.
Hey Donk.
Give up Mafia, Oxide does not breed outside her species.
Give up Mafia, Oxide does not breed outside her species. Just to be clear she is a homo sapient, you are Neanderthal. Yes, such a union has occurred in the past but it was when hitting a woman over the head was permissible.
Housing my good friend. Housing.
Denver(Stapleton), CO Housing Prices Crater 9% YOY
https://www.zillow.com/stapleton-denver-co/home-values/
https://snag.gy/m5EzRB.jpg
Preoccupation with conjugation is either a sign of puberty or mania. You might want to consider the mood swing Danny. Or just go buy some more hot Chinese Futures.
Preoccupation with conjugation is either a sign of puberty or mania.
Or it may be a sign of hypomania. Best time of my life. Fortunately it did not progress to mania.
“…this has only been picked up by local NY press?”
Obviously the local NY press are not “real journalists.”
“Remember the poster here who said, “these loans will probably be OK”?”
With the flood of subprime over the last 10 years, no mortgage is ‘ok’.
Here’s an interesting link:
Relief for Seattle-area single-family home rents, and a glimmer of …
Seattle Times-16 hours ago
Single-family home rents are barely budging after years of steep increases, and those declining returns could persuade some landlords to sell …
But when I go there:
https://www.seattletimes.com/business/real-estate/relief-for-seattle-area-single-family-home-rents-and-a-glimmer-of-hope-for-buyers/
Uff da!
You’ve come to a dead end.
Oh my…..
And lots of housing crime in Seattle.
Wrong as usual. Lots of foreigners with cash though.
Hello my good friend.
Rancho Cordova, CA Housing Prices Crater 8% YOY
https://www.zillow.com/rancho-cordova-ca/home-values/
https://snag.gy/m5EzRB.jpg
“But when I go there:”
Looks like that piece had too much negative press… editor pulled it.
Bend and Redmond Housing Inventory Increasing
By Nick Nayne, Principal Broker
‘According to The Beacon Report, prepared by Beacon Appraisal Group and based on Central Oregon real estate statistics, the Bend median home sales price decreased from $424,000 in March 2018 to $415,000 in April 2018. The Bend median price per square foot increased from $219 per square foot in March to $217 for April. This may not seem like good news, but deeper analysis of the figures shows the market is actually improving, as evidenced by the amount of listing inventory.’
‘What was most interesting to see is the increase in listing inventory over the past four months as compared to the prior year. Note: these figures are only for single family residences of 1 acre or less.’
‘Better weather this past winter allowed builders to keep going on their projects with minimal weather delays compared to last year. This is no doubt helping increase the listing inventory and hopefully stabilizing prices a bit. Both Redmond and Bend have had healthy inventory growth, but once again, Redmond is showing a much higher rate of growth than Bend due to all the current and future development taking place there.’
Indeed…
Bend(Century West), OR Housing Prices Crater 17% YOY On Ballooning Housing Inventory
https://www.zillow.com/century-west-bend-or/home-values/
https://snag.gy/m5EzRB.jpg
Sarasota, FL 34231 Housing Prices Crater 10% YOY
https://www.zillow.com/sarasota-fl-34231/home-values/
*Select price from drop-down menu on first chart
They’re making more land on the big island of Hawaii, and I understand it’s HOT, HOT, HOT!
Seriously, how much of an idiot do you have to be to live on a volcano? If the lava reaches that geothermal plant, POW!
“Seriously, how much of an idiot do you have to be to live on a volcano?”
Good ob$ervation, perhaps the tens of million$ of intellig$ia folks that deal with Billion$ of U$D damage$ EVERY YEAR, … from earthquake$, hurricane$, flood$ can provide you with a an$wer.
I suppose you could say “people in glass houses, etc.” since I’ve been living in Florida since the 80s. However, in my defense, we did just move to a part of the state outside of the major impact areas, so there’s that. This area just gets the tropical storm force stuff at most. Living on an active volcano would freak me out, I don’t think I could do it.
Eye agree, fissures of molten rock pushing up from below & bombarding from above + lethal gas fumes is hard thing to wrassle.
( having lived through tornado’s [Kansas] & earthquakes & wildfires [California] trouble that is pretty spontaneous, yet “it all falls to pieces” in rather short order … It’$ the continual rebuilding $$$$$$ that is hard to avoid, of course, knot everyone can live in a teepee!)
Kudos to your target avoidance aforethought!
True but it is less dangerous than buying cheap property in Compton.
There is a Compton in every state of the Union, including the US Territories, (- US Virgin Islands) …
What better way to build truly affordable housing, than to build a subdivision squarely in the path of a future lava flow?
“… have a pre-approval letter on hand, be ready to stretch their budgets and consider distinguishing themselves from the pack by writing a letter to the homeowners…”
Here is sample letter to give (on bent knee) to homeowners
Dear Sir/Madam
You might have noticed I have the word “SUCKER” tattooed on my forehead. Please don’t think twice about raising your price even more as I am used to be taken advantage of. BTW, if you have squirrels, I will play my guitar at 2am to lull them to sleep.
Your willing servant
____________(s)
“stretch their budgets”…sounds like something that gets done to the unwary in realtor’s offices, auto mechanics’ garages and the showers of the county jail.
Apropos auto mechanics: Gran Torino barbershop scene
I think cracked.com or one of the other humor sites needs to do a segment spoofing/mocking the “letter to the homeowners” thing.
I bet The Onion would do it up right… lemme see if I can write somethin, of the top of my head… “College term paper writing service caught selling stock homebuyer letters… customers charged extra for extra-flowery language.”
That last article is a doozy!
The real crime is that they didn’t share enough of their fraudulent proceeds with their senators and local congress members.
I don’t get it.
You can’t get even a BIGGER mortgage if you have debt to pay off?
Who makes up these rules and standards?
Obviously - people who don’t hold the mortgage and sell them to other people asap.
Banker: Mr. RE Scammer, our banks rules, standards and regulations tell us we can lend you a maximum of $10 million
RE Scammer: Did you know I have lots and lots of debt?
Banker: Oh, so sorry. We didn’t know. He is an extra $5 million.
++++
“Authorities allege the Morgans received inflated loans to pay off debt that didn’t exist.
I dunno, I think a smart consumer can effectively do the same thing.
Consumer: I’m have $30K of CC debt at 13%.
Bank: No loan for you.
Consumer: I have $50K equity in my house.
Bank: Oh, here’s a HELOC at 5%. I/O for 10 years.
“As the housing market continues to improve, so, too, does the economy. ‘In general, we’re just paying more for housing, and that’s good for banks, because banks are getting larger loans at higher interest rates,’ said Michael Tasto, professor of economics at Southern New Hampshire University.”
__________________________/
Interesting that this is seen as a sign of health, rather than of sickness caused by total policy failure. Will defaults on those larger loans at higher interest rates be good for banks? We can guess that they won’t be bad, because the taxpayers again will have to pick up the tab.
“Will defaults on those larger loans at higher interest rates be good for banks? We can guess that they won’t be bad, because the taxpayers again will have to pick up the tab.”
Yep. The banks will forever be bailed out because the average totally dumbed-down ignorant American puke has been successfully sold on the idea that Western Civilization is at risk if these banks are allowed to fail.
the average totally dumbed-down ignorant American puke has been successfully sold on the idea that Western Civilization is at risk if these banks are allowed to fail.
…not understanding that bank failure (all the way to the top) might be the only thing that could save Western Civilization at this point.
‘the taxpayers again will have to pick up the tab’
There’s a big difference. Last decade plenty of big and small banks took a huge hit. I had an account with a small Flagstaff bank. I asked the manager once, do you hold any mortgage backed securities? He didn’t know! One day there was a new owner, brought in by the feds. Seems this tiny little bank had financed some Miami condo construction and oops!
I don’t think the hit is going to be so spread out in the future.
Future matter$ knot, … those respon$ible float un$inkable in ship whose bouyancy is made of this:
Definition of indemnify:
indemnified; indemnifying
transitive verb
1 : to $ecure against hurt, los$, or damage
2 : to make compen$ation to for incurred hurt, loss, or damage
— indemnifier play \in-ˈdem-nə-ˌfī(-ə)r\ noun
The profits are more concentrated this time around, but the bailout will be same as last time - taxpayers picking up the tab, and everyone not in the 1% indirectly suffering.
Portland, OR Housing Prices Crater 11% YOY As Excess Housing Inventory Floods Market
https://www.zillow.com/portland-or-97201/home-values/
*Select price from dropdown menu on first chart
So planting spies in your campaign is good for you?
https://original.antiwar.com/thomas-knapp/2018/05/22/yes-virginia-there-is-a-deep-state/
Article written by Sharyl Attkisson, journalist who was in fact spied on herself by Obama and the Deep State:
http://thehill.com/opinion/white-house/388978-growing-signs-of-a-counterintelligence-operation-deployed-against-trumps
I’m surprised she’s still alive…
Using the vast power of the IRS, EPA and Justice Department to go after your political enemies…yawn
Using the vast powers of the surveillance agencies and hiring spies to go after your political enemies during an election…yawn
Talk about grabbing something in a locker room - 24/7/365 news coverage
No wonder no one believes the fake legacy news media anymore
Eric Holder Lashes Out at Trump For Calling on DOJ to Investigate FBI Campaign Spies
Cristina Laila May 21, 2018
Former Attorney General Eric ‘Fast and Furious’ Holder lashed out at Trump on Monday after the President called on the DOJ to investigate the FBI’s infiltration of his 2016 campaign.
http://www.thegatewaypundit.com/2018/05/eric-holder-lashes-out-at-trump-for-calling-on-doj-to-investigate-fbi-campaign-infiltration/
Farage: Who decides what’s politically acceptable, Mr Zuckerberg?
https://www.youtube.com/watch?v=N5GhOxkgKeE
A comment:
‘So now Facebook decides what’s best for my personal well being. Wow…how wonderful…. and all along I thought that was called “censorship”. Thanks Facebook. So glad I came to my senses years ago and canceled my account.’
Well, Ben, looks like you may not be allowed to ban users for much longer. This judge has decided it violates freedom of screech.
https://www.zerohedge.com/news/2018-05-23/trump-no-longer-allowed-ban-twitter-users-judge-rules
This is one stupid broad who just opened one big fat can of worms. Freedom of speech also implies the freedom to not communicate as well.
The lawyers will have a field day with this one.
LOL at people who think “winning” Twitter translates to winning elections.
Maybe it heralds a new cargo cult era where people see Trump used Twitter and he won…so therefore…
What it heralds is regulation of the internet as a public utility, I think. We’ll have to wait and see what the lawyers do with this.
The courts got this right in my opinion. Trump’s tweets are part of the official presidential archive. This is considered official communication and therefore 1st amendment protections apply:
“Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”
A public figure like DJT should not be able to block someone (and thereby their speech) because they happen to disagree with them. Hash it out. Have dialogue. It’s going to be messy, like it is here on this forum. A private citizen not in a government capacity would not be subject to this.
DJT is your president for the next 6 years….. and you’re gonna like it.
A public figure like DJT should not be able to block someone (and thereby their speech) because they happen to disagree with them. Hash it out. Have dialogue. It’s going to be messy, like it is here on this forum.
The only reason this forum and really anything online works is by being able to block some people from posting in “your” area. Otherwise the heckler’s veto brings all constructive dialogue to a halt. The right to free speech is the right to post whatever you want on your own account and people can choose to follow you or not. Free speech is not the right to use the heckler’s veto to shut someone else down/out. If Trump was getting other people kicked off of Twitter I would totally agree with you. But that’s not what we’re talking about.
Otherwise the heckler’s veto brings all constructive dialogue to a halt.
Then there is the troller’s veto.
The right to free speech is the right to post whatever you want on your own account and people can choose to follow you or not.
We disagree with what constitutes free speech in the digital era. If Twitter, as a platform, only allowed DJT to tweet and no one else to chime in the conversation, then I would agree and concede that this type of platform is no different than a presidential fireside chat or radio broadcast. But this technology is vastly different from one-way broadcast communication. The media is the message. Twitter is a different animal altogether.
But the fact that others can reply to him and use hashtags, retweet, and add to the dialogue means that it is not purely a presentational mode of communication (ACTFL defines 3 modes of communication: interpretive (reading), presentational (speech), and interpersonal (dialogue). If DJT allows certain users to retween and comment on his threads, but blocks others, then that reeks of selective censorship and ranks right up there with Russia and China and other autocratic states who don’t tow the party line. The only people who should be blocked are those threatening violence or inciting violence (can’t yell fire in a crowded theater) and hate speech, narrowly defined.
Ben can ban since the first amendment only restricts what government can do. Still an absurd decision, Trump Twitters as an individual not as part of the government. If we do not start appointing more judges who follow the constitution we are doomed as a democratic republic. The constitution or any statute does not constrain the left wing judges. The law is what they want it to be unimpeded by anything.
“Trump Twitters as an individual not as part of the government.”
Interesting legal theory!
Palmy, this is NOT a can of worms. It’s a special case. Trump is the President, and this only applies only to Trump’s account, which he himself effectively turned into a very public vehicle of official communication.
If Trump blocks someone from viewing his feed, he is denying information to that member of the public. Usually, the only way to deny information to the public is to declare it nonpublic; for example: classified, controlled, sensitive (there are very specific laws and regulations on what can be made nonpublic). Even then the person can file a FOIA.
If Trump blocks someone from responding to his feed, then he is effectively denying that person the First Amendment right to petition the government.
So Trump’s Twitter feed is already covered by existing laws. This is a pretty straightforward ruling, and it will only affect politicians and perhaps agencies’ official social media accounts.
“Palmy, this is NOT a can of worms.”
Do NOT underestimate the ability of lawyers to turn it into a dog’s breakfast.
As it is, this will affect the twitters and FBs of every single gummint offishul from Fed to rural jurisdictions. Heck, they already fire these folks for saying stuff on their private accounts.
And just wait for someone to try it on a private citizen’s YouTube channel or website. Or corporate website for that matter.
IMO if Trump’s twitter is “the gubmint” then everyone else’s twitter is “the press”. I think if Trump can keep certain journalists out of his press conferences then he can prevent certain people from commenting on his tweets.
Just don’t even think about NOT baking a cake
So true and goes to my point above, it is true that this case will only impact very few people.but even if Twitter is a public forum for arguments sake, there is nothing preventing the people from going on to Twitter and posting, they just couldn’t use Trump’s address. The precedent is bad because it so muddles the water between public and private. It is the camel’s nose under the tent. Trump had the account as a private person and when he leave’s office it will still be his account.
“Falls from the sky”
In a sense it is true. Yellen dollars are essentially helicopter money that was to be dropped from the sky to prevent or cure a recession.
Capitol Hill, Washington DC Housing Prices Crater 14% YOY As Housing Depreciation Ravages Homeowners On Skyrocketing Inventory
https://www.zillow.com/capitol-hill-washington-dc/home-values/
*Select price from dropdown menu on first chart
Uber shuts down self-driving operations in Arizona
https://www.engadget.com/2018/05/23/uber-shuts-down-self-driving-operations-in-arizona/
But it’s just around the corner! You wait and see.
$ilicone machine$ design cars
$ilicone robot$ build cars
$ilicone software’$ drive cars
(Humans, with $ilicone cameras in their hands which they use to text & yakety yak whilst maneuvering a 3,000 lb block of mass through rush hour traffic with the Bluetooth blaring! …)
What hath Henry Ford created … “Beware the Tran$itors!”
Glad we recently purchased a human-driven automobile on the cheap, while everyone was still convinced self-driving cars were about to replace the traditional kind.
Have you ever heard of something called “Snap Flipping?” I turned the TV on last night and there was an infomercial. Oh, and they also “teach” these mullets how to “daytrade” to get money for this. OMG. I watched 10 minutes and had to turn it off.
I have never hated the housing bubble worse than I did last night. Please die, all of your idiots.
Mi$ter Banker will knot like the ending of yer post.
I ran across this…
“I recently joined a organization as a student called “snap-flip” after attending a real estate conference in my area. They provide financial literacy through classes as well as reoccurring support for customers/students. But They seemed to specialize in providing funding through private investors which states they will take 1.65% of every profit on each investment. They also provide a list of cash buyers and other resources to make the quickest “flip” possible. They provide this for students ONLY. I am bringing this to BP forum bc I am fairly new to this real estate world but I wanted to know has anyone else joined? Does anyone here from BP have a history with them? Are they legit as they say? Or have I been involved in a scam? PLEASE HELP!
Thank you”
https://www.biggerpockets.com/forums/311/topics/487746-has-anyone-joined-the-group-snap-flip
“Comment by txchick57″
Where the hell have you been? Geez.
You need to show up here more often and mouth off a bit.
House prices tumble in London against rises across rest of UK
London property experts say buyers are “sensing blood in the water”, with sellers forced to cut prices steeply
https://www.theguardian.com/business/2018/may/23/uk-house-prices-fall-by-02-for-march-says-land-registry
Shaquille O’Neal’s house, supposedly. 28 million. Ever been to Windermere, Florida? Ugh. A rotten, humid, buggy, stinking subdivision of pretentious homes outside of Orlando. An invented community for the nouveau riche and wannabe’s. Home to boy band members and management, and people like that. Can’t breathe there during the summer.
https://www.zillow.com/homedetails/9927-Giffin-Ct-Windermere-FL-34786/46138336_zpid/
Drain the swamp.
Iffin’ ya drain the $wamp in Florida, what to you suppose “they” will do with the dry land?
Please refrain from commenting on parts of and characteristics of Florida that you quite obviously know nothing about; particularly as you are a d*** yankee!
(def:a yankee who comes to Florida and stays).
Windermere is a town, not a subdivision though it encompasses many subdivisions. The town has a quaint downtown core that established itself in 1889 and chartered in 1925.
Per the census of 2013, the median income for a household in the town was $88,809, and the median income for a family was $105,737. The per capita income for the town was $51,370. About 2.4% of families and 3.1% of the population were below the poverty line.
Does that sound like the town you berated?
My daughter and her family live in Windermere and I visit often. From your comments, I sincerely doubt you have ever been there.
…Windermere sounds like a sh!thole to me
particularly as you are a d*** yankee!
(def:a yankee who comes to Florida and stays)
As I understand it they are Damned Yankees no matter where they are or how long they’ve been there.
There’s two definitions:
damn yankee
A yankee who moves South because of the warmer climate and friendly people, and decides to stay. (As opposed to regular yankees who return home because they like crappy food and weather cold enough to cause death).
Northerner: “In Bastaan people know how to drive fast, unlike dan here”.
Southerner: “Well, Delta flies both ways, ya damn yankee.”
Damnyankee
It technically IS one word.
What do you mean you don’t have sweet tea? Damnyankees
American residing north of the Mason-Dixon line, the border between Maryland and Pennsylvania. Word most commonly found in Southern States.
It wasn’t till i was 18 that i learned Damnyankee was two words.
https://www.urbandictionary.com/define.php?term=damn%20yankee
Hi-Z has never gotten over the fact that I made mention of the boomda shops (women’s foundations, to those more delicately minded) that used to proliferate in Tampa and Miami.
Here’s another house in Windermere owned by one of its formerly prominent residents:
https://www.youtube.com/watch?v=QWFSozXh32s
If you like your Windermere, you can keep your Windermere.
To be fair to Hi-Z, I have a VERY jaundiced view of the entire Orlando area and dump on it every chance I get. And yes, I’ve spent some time there over the years. Including Windermere. Never saw anything quaint there, but I wasn’t particularly looking. Couldn’t get out soon enough. Don’t care for Lake Butler, either.
Now these Damn Yankees were damn good…..
https://www.youtube.com/watch?v=11Qdu4jsboY
To be fair to Palmetto, I think he has a jaundiced view of and enjoys dumping on…..
This housing run HAS to be about finished. I know it always goes longer than one can think. Saw it during the tech bubble and the last housing bubble of 2006. I know of a couple of properties in the family that are on the market and there’s bidding wars on one and the other in a old farmhouse and property in California wine/weed area is sitting.
It seem crazy to take on more debt after the last few years of running up prices. Best of luck out there, but my next truck purchase will be after the slowdown.
Once the tipping point hit$, … the next $ign to be seen just past the high mountain curve without guard rail$ will read:
18% downhill grade / many curve$
($urging Lo$$ of job$ = no brake$)
$ame as before … & the beat goe$ on, & the beat goe$ on
“…but my next truck purchase will be after the slowdown.”
Used 2011 Toyota Tundra w/155,000-miles still $24k? Insanity!
This runup/bubble is different than the last one in that there already is a substantial amount of consumer debt. Interest rates are low which allows that debt to be serviced. I’d thought the society was searching for “peak debt”, Ray Dalio talked about the “debt supercycle” and “beautiful deleveraging” (note: while there has been a “beautiful” wealth transfer via monetary policy to Wall Street, there’s been little deleveraging - perhaps the wealth transfer was what he was really thinking of). I guess peak debt with these low interest rates has yet to be reached.
By all accounts, the economy is moving along swimmingly. However http://money.cnn.com/2018/05/17/news/economy/us-middle-class-basics-study/index.html
Speaking of “the law”, it appears that not only was Mueller’s appointment unconstitutional, his activities have been unconstitutional from the get-go:
http://www.breitbart.com/video/2018/05/22/mark-levin-appointment-of-robert-mueller-utterly-unconstitutional/
“Under the appointments clause of the United States Constitution, Article II, Mr. Rosenstein usurped the authority of the president of the United States to nominate whomever he wants as a prosecutor, and Mr. Rosenstein usurped the power of the United States Senate, which has the control over the confirmation or not. Mr. Mueller is serving unconstitutionally in violation of the appointments clause of the Constitution because of the way Rosenstein appointed him, because of expanding his authority, because Mr. Mueller has expanded his own authority with these four now assistant United States attorneys.”
Now they tell us. Why hasn’t this been brought up before? Could it have something to do with the fact that the “mandate” given to him by Rosenstein wasn’t revealed until yesterday (to members of Congress, who had been requesting it for months). It could also be why there’s a rumor is that Rosenstein might be gone or on his way out, replaced by Ed O’Callahan. Rosenstein will not be attending the Thursday briefing:
http://www.foxnews.com/politics/2018/05/22/fbi-doj-to-brief-lawmakers-on-handling-russia-probe-on-thursday.html
“The Thursday meeting will include FBI Director Wray along with House Intelligence Committee Chairman Devin Nunes, R-Calif., House Oversight Committee Chairman Trey Gowdy, R-S.C., Director of Intelligence Dan Coats and Principal Associate Deputy Attorney General Ed O’Callahan. Although Kelly is setting up the meeting, he is not attending.”
WUT?? If this is the case, then Trump’s lawyers have some real chit for brains. OTOH, they were flying blind because Rosenstein was hiding everything.
Take it from fair and balanced news sources like Faux and Breitbart…
I tried to find a source that would be acceptable to you, Prof, but Backpage has been shut down.
lol
“Food fight!”
I quite honestly steer clear of all propaganda outlets. You seem to be quite the expert.
But you are OK with Washington Post and CNN? Go figure!
This statement is propaganda.
Another day, another $50 billion in Yellen bucks lost in cryptospace…
Cryptocurrency freefall shaves $50 billion off market cap in 72 hours
By Aaron Hankin
Published: May 23, 2018 5:12 p.m. ET
Some major coins down more than 10% in Wednesday trade
Getty Images
Digital currencies were in free fall Wednesday, with some major coins in the red by more than 10%.
Bitcoin, the world’s biggest digital currency, fell through $8,000 late Tuesday and the slide has not abated. Bitcoin tumbled to a multiweek low of $7,442.92. Bounces have been limited, with a single coin last worth $7,528.89, down 7.1% from late Tuesday Eastern U.S. levels on the Kraken exchange.
The collapse in cryptocurrencies has seen the total value of all coins fall to $326 billion, down some $50 billion in just 72 hours, according to Coinmarketcap.
Bitcoin bull Tom Lee of Fundstart Global Advisors is holding firm, telling CNBC that institutional investors are just waiting for clarification of regulation before dipping their toes in the water.
Lee told CNBC that his price target for the No. 1 digital currency remains at $25,000.
Bitcoin enthusiasts looking for the next support line might be better off tracking current resistance levels, according to one analyst, who says we are still in a trend, and it’s not higher.
“Last week’s $9k support has turned into this week’s $8k support. And thus far it is giving every indication that $7k will become next week’s support. I hope you see the trend here,” wrote Jani Ziedins in a blog post.
“It takes most bubbles between six and 24 months to finish bursting. If bitcoin is like most bubbles, that means the worst is still ahead of us and we should expect lower lows over the next few months.”
Read: Opinion: This is all it would take for bitcoin to become a worthless cryptocurrency
https://www.marketwatch.com/story/bitcoin-slumps-below-8000-and-the-worst-is-yet-to-come-says-one-analyst-2018-05-23
One question on the value of bitcoin falling to zero:
To me it seems like it’s ok if the value falls below the value of mining. It seems like that’s how it was designed. In that case mining stops, supply stops increasing, and theoretical value is maintained.
But they are implying that if you can’t make money mining it, then nobody will be willing to host the ledgers (or whatever it’s called) on their computers. I’m skeptical that’s true, but if it is, then that’s an obvious fatal flaw from the beginning and it seemed like the creator(s) were smarter than that. I know they foresaw mining eventually ending and supply being capped.
Why did the article author think nobody will be willing to host the ledgers if you can’t make money mining? What was the original plan for how that problem would be solved?
Value of mining is negative due to a cost with no intrinsic benefit.
I know lots of Mormons who fell for the cryptoscam. They bought when the price was stratospheric and now they are optimistically HODLing their falling knives.
Poor, poor Alphonso, and he had it so worked out in his mind.
And I still wonder about HBBer Joe “I’m not a conspicuous consumer really I’m not” Smith, he of the $15+ million in bitcoin. Wonder if he ever bought that conspicuous mansions northwest of Baltimore.
I’m torn between going all-in by buying bitcoin or going all-in by buying cans of shit; I’m thinking both have close go the same fundamental value.
Here’s some info about cans of shit:
“A tin was sold for €124,000 at Sotheby’s on May 23, 2007;[5] in October 2008 tin 83 was offered for sale at Sotheby’s with an estimate of £50–70,000. It sold for £97,250. On October 16, 2015, tin 54 was sold at Christies for £182,500. In August 2016, at an art auction in Milan, one of the tins sold for a new world record of €275,000, including auction fees.[6] The tins were originally to be valued according to their equivalent weight in gold – $37 each in 1961 – with the price fluctuating according to the market.[1]”
https://en.m.wikipedia.org/wiki/Artist%27s_Shit
“buying bitcoin or going all-in by buying cans of shit; I’m thinking both have close go the same fundamental value”
Cans of shit are clearly more valuable, as they can be used as fertilizer.
By contrast, Bitcoin is intrinsically worthless.
Say it ain’t so …
“U.S. Launches Criminal Probe into Bitcoin Price Manipulation”
(snip)
“The investigation is focused on illegal practices that can influence prices — such as spoofing, or flooding the market with fake orders to trick other traders into buying or selling, said the people, who asked not to be identified because the review is private. Federal prosecutors are working with the Commodity Futures Trading Commission, a financial regulator that oversees derivatives tied to Bitcoin, the people said.”
https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe
Oscar Peterson & Count Basie - Jumpin’ At The Woodside
https://www.youtube.com/watch?v=XIs1vcoPQbw
I thought that was theme from Gene Gene the Dancing Machine!
https://www.youtube.com/watch?v=ACpNVD5GMUw
“According to Zillow, the median home price is just under $460,000.”
Crikey, that sure escalated while I slept. IIRC in 2000 it was $187K. That’s about 5% per year, 187× 1.05^18= $450.
And everyone in Portland thinks they have a $700K house.
My house is worth $10 million. Find me a buyer at that price.
So it is with all depreciating assets like houses.
Is Italy really Too Big to Fail?
News-Decoder
A trustworthy, not-for-profit news service and forum for young people around the world
Sit up and take heed: Italy cannot be allowed to fail
April 23, 2018
Italian President Sergio Mattarella talks to the press after a second round of consultations to form a government failed, Rome, 13 April 2018 (Alessandro Di Meo/ANSA via AP)
By Tiziana Barghini
Italy is having trouble forming a government. Nothing new, you might say.
But Italy is the third largest economy in the euro zone, and its public debt is bigger than the nation’s annual economic output.
If the world’s financial markets start believing that Italy cannot manage its economy or accounts, they could lose confidence in Italy’s solvency — and that could spell trouble for the euro zone and even the global economy.
Italy’s situation is a sobering reminder that democracy often throws up unstable politics.
At a time when liberal democracy is under assault by autocratic, populist leaders, Italy’s plight offers political lessons for a world that otherwise might pay scant attention to yet another bout of nerves in southern Europe so soon after Greece’s own debt crisis.
…
“Silicon Valley’s Biggest Ever Tech Bubble About To Burst”
https://www.rt.com/business/427507-silicon-valley-bubble-end/
‘In general, we’re just paying more for housing, and that’s good for banks, because banks are getting larger loans at higher interest rates,’ said Michael Tasto, professor of economics at Southern New Hampshire University.”
If it is so good for Banks why did the MBA say thatthe Mortgage industry had a net operating loss in Q1 2018.
Margins are razor thin and people need to start leaving the industry.
Regions just left the Correspondent industry effective 7/31 I think.
Michigan couple says local ordinance will kick them out of their home and force them to live in a tent.
Someone named “Ben Jones” commented on the above article. Doesn’t sound like our mod, though.
https://www.bloomberg.com/news/features/2018-05-24/small-time-bankers-make-millions-peddling-mortgages-to-the-poor
“Usually a repo that’s like three years old, we’re not really going to sweat that,” he assures the caller. “We’re pretty lenient here.” He steers his prospect to several $400,000 homes with swimming pools. “Have your wife check that out,” he says, referring to a remodeled kitchen with granite countertops. “She’s going to love it.”
Many of Christian’s customers have no savings, poor credit, or low income—sometimes all three. Some are like Joseph Taylor, a corrections officer who saw Christian’s roadside billboard touting zero-down mortgages. Taylor had recently filed for bankruptcy because of his $25,000 in credit card debt. But he just bought his first home for $120,000 with a zero-down loan from Christian’s company. Monthly debt payments now eat up half his take-home pay. “If he can help me, he can help anyone,” Taylor says. “My credit history was just horrible.”