The Question Isn’t If Or Even When: It’s Starting Now
A Saturday desk clearing post on nations outside the US. “Toronto real estate sales sometimes fall through, it’s a reality of any market. It’s often not until a few months later that we find out how many sales actually closed. Toronto Real Estate Board (TREB) data shows sales fell through at a higher rate than usual last year. In a small window where price growth reached peak, the rate of cancelled sales doubled. Why most of these buyers walked away from their sales will forever be a mystery. Some have popped up in the court system, sometimes with huge consequences. One buyer that backed out without sufficient reason was ordered to pay $470,000 to the seller.”
“On that note, we’ll leave you with the wisdom of Justice Edwards: ‘When the residential real estate market is a rising market, most people – perhaps with the exception of first time buyers, are happy homeowners and investors. When the market turns and drops, it is not for the faint of heart.’”
“Homeowners are slashing prices after a surge in the number of properties on the market last month. The number of homes with a reduced asking price is now at its highest level since October 2012, analysis has found, with reductions totalling £1.6billion. The first regional supply surge occurred in Greater London, where the total stock for sale has now climbed to the ‘glut level’ last seen in October 2010.”
“The Guardian investigation reveals that there is currently a property overhang in the market, with high number of unsold units and vacancy rates in major cities in the country. The scenario is not a surprise to property watchers as Nigerians have long been complaining about the skyrocketing property prices over the past few years. The increase in property prices is due to speculative investing as well as the surge in number of developers jumping on the bandwagon for the past few years, whereby government and bankers’ responsibility cannot be absolved.”
“The phenomenon of property glut prevalent today did not get better despite many developers’ efforts in pushing sales which include rebates and lowered down payment. In most Nigerian cities, like Lagos, Abuja, Kaduna, and Port Harcourt, the story is not different, existing vacancy rate in residential and commercial market have continued to double.”
“The glut in the property market is getting worse with banks, pension fund administrators and politicians offloading their assets into the market. Some of the property has remained in the market for several months without any buyer. As the elections draw near, experts believe that market will be saturated with many more property. Lagos NIESV Vice Chairman, Dotun Bamignola disclosed that, ‘there is clear caution in purchasing property. Property prices have not really moved northward as usually anticipated by speculators. Most of them are still locked down into their expectations,’ he said.”
“On Thursday, Annahar hosted a discussion between two experts from opposite sides of the spectrum, Daniel Azzi, former CEO of Standard Chartered Lebanon, and Abdallah Hayek, CEO of Hayek Engineering and Construction Group. The discussion revolved around the factors behind the stagnation, the fiscal and monetary measures targeting the real estate sector, and the current state of the market.”
“The surplus in the market was further aggravated by ‘non-professional developers who entered the market’ during the peak years of 2010, Abdallah says. ‘We are faced with a correction, the professionals will survive and the intruders have to figure out a way out with minimum losses.’ Both experts agreed on this notion as well, with Azzi alluding to these ‘amateur professionals who entered the market at the peak of the bubble’ with no prior experience in the real estate sector.”
“‘There is excess supply competing with Mr. Abdallah’s excess supply,’ he says, adding that ‘the problem can only be solved with major price reductions.’”
“The exodus of expatriate workers from Saudi Arabia has negatively affected the country’s real estate sector with a considerable fall in rent prices. Many property owners were forced to reduce their rents to attract clients and ensure liquidity. Market analysts expect further falls in prices in the coming months. Khaled Barasheed, former chairman of the real estate committee at Asharqia Chamber, said the fall in real estate prices in remote areas reached 25 percent while in cities the percentage was a little less. ‘People have postponed their plans to purchase houses and other properties expecting the prices to fall further,’ said Barasheed.”
“Ali Al-Jibali, former vice chairman of the real estate committee at Asharqia Chamber, said the depression in the property market was not limited to the Eastern Province alone but covered all regions of the country. He attributed the fall to a global economic downturn.”
“Tianducheng—also known as ‘Sky City’—opened its doors to the public as a luxury housing estate in 2007 with capacity to accommodate more than 10,000 residents. But it remained largely unoccupied as Chinese citizens’ rejected its bizarre theme and undesirable location. In 2013, a video surfaced showing the town’s long-empty boulevards and Eiffel Tower overgrown with weeds. The footage led to several reports deeming the design a failure and the city a ‘post-apocalyptic ghost town.’”
“Starting in the early 2000s, ‘fake’ cities and knockoff global cultural landmarks have sprung up in all corners of the country. Thames Town in the Songjiang District looks like a caricature of London’s boroughs. Anthony MacKay, the masterplanner and architect of Thames Town, told Newsweek that he was disappointed with the finished product, calling the entire village ‘comical.’”
“‘It’s not how I intended Thames Town to be. It’s doesn’t look right. I’m angry about it,’ he said. ‘They came [to England], took photographs of lots of buildings, went back and copied them… It’s like a collection of facades, there’s no depth to the buildings.’”
“The average asking price of all properties from throughout the country that were newly listed last month was $645,133, compared to $658,170 in May and $661,129 in April. The national average asking price is now down 4.2% compared to its February peak of $673,659. Average asking prices in June were down compared to May in most parts of the country. In Auckland the average asking price declined for the fourth consecutive month to $912,071 and has now lost more than $82,000 (-8.3%) since it peaked at $994,873 in February. It is now the lowest it has been since July last year.”
“In the Bay of Plenty the average asking price declined for the second month in a row to $624,207, down by $55,152 (-8.3%) compared to its April peak of $664,652. It is now at its lowest point since September last year. In the Wellington region the average asking price dropped to $593,686, the first time it has been below $600,000 this year and and down by $39,212 (-6.2%) from its March peak of $632,898.”
“Analysis by RiskWise Property Research shows unit over-supply in inner-city Brisbane has created weakness in the market leading to a high level of risk for investors and therefore lower valuations and rising defaults on settlements. It comes as Lendlease asserts the over-supply of units in the Brisbane market will peak this year. The developer is bracing for rising defaults on settlements in the short-term as buyers fail to complete purchases, according to an article in the Australian Financial Review.”
“‘The issue of oversupply is not a new problem and has been there for a few years and the continuous weakness of the unit market in inner-city Brisbane should have raised red flags for developers and lenders,’ said RiskWise CEO Doron Peleg. ‘What we are seeing now is the realisation of the risk that should have been identified at least a couple of years ago. Defaults have been rising and will continue to do so.’”
“One of the key factors was developers’ lack of foresight regarding unit oversupply as well as the impact of lending restrictions introduced in 2014. It seems there was no methodological and structured risk-management approach including identification, assessment and mitigating action plans to address those risks. Overall, it seems they were too optimistic about the projected market value, and it is highly likely that the price they paid for the land was also too high,’ he said.”
“Mr Peleg said it must also be remembered the value of off-the-plan property could decrease between the original contract date and settlement resulting in capital loss, as the equity in the home could be reduced, and this was well known in inner-city Brisbane. ‘The current valuations made by valuers are simply a reflection of the realisation of the risks and changes to unit prices, and represent the fair market values of the properties at the time. The point is that if developers and lenders put more proper risk-management practices in place, this could all be avoided,’ he said.”
“What happens to the economy of B.C., and of Metro Vancouver in particular, when the housing bubble bursts? That’s something I worry about quite a bit, of late. The air is leaking out of the housing bubble. Detached house prices are finally sinking, sales are crashing, and oversupply seems certain. So the question isn’t if or even when (it’s starting now) but how bad will it be. I’m hoping the answer is not too bad, but I very much fear the opposite will prove true.”
“The construction industry is currently the third largest employer in the province, with more than 233,000 jobs involved directly or indirectly. Real estate, rentals, and leasing made up more than 18 per cent of B.C.’s GDP last year – a larger percentage than oil and gas represents in Alberta. We’re seeing the first, earliest stages now, as it takes a bit longer every month to sell a home in Metro Vancouver. The next stages are stagnation, layoffs in construction and real estate, and an exodus of some of the younger people who had come to B.C. to work.”
“With home sales grinding to a halt, some speculators will hold on to their assets and refuse to sell – leaving homes either empty, or hopefully, available for rent. (Which should make renting more affordable for a few years, at least.) Others will be forced to sell at a loss, further driving down prices. The provincial government will take a hit to its pocketbook. Victoria has been getting a lot of money out of the property transfer tax. Prepare for deficit spending, new taxes, service cuts, or all three.”
“Municipalities will take a lesser hit, but will be left to deal with vacant lots in the middle of patchy developments, and possibly with an increase in vacant homes. We still don’t know how extreme this will be, or how long it will last. I think we’ll be lucky if B.C. gets through it without going into a recession. Frankly, I’d be very happy to be proved wrong on all of this.”
‘The issue of oversupply is not a new problem and has been there for a few years and the continuous weakness of the unit market in inner-city Brisbane should have raised red flags for developers and lenders,’ said RiskWise CEO Doron Peleg. ‘What we are seeing now is the realisation of the risk that should have been identified at least a couple of years ago. Defaults have been rising and will continue to do so.’
It has been there for anyone to see for years. Like Miami Beach and Manhattan. But you can still find multiple reports saying oversupply is a “myth” and it’s to the moon Alice!
There is no shortage of housing or land anywhere on the planet and there never has been.
Tampa, FL Housing Prices Crater 11% YOY As Mother Of All Housing Corrections Gains Speed
https://www.zillow.com/seminole-heights-tampa-fl/home-values/
*Select price from dropdown menu on first chart
Take cover. It’ll hit the fan tomorrow!………
Housing
Castle Rock, CO Housing Prices Crater 5% YOY
https://www.movoto.com/castle-rock-co/market-trends/
Home sales in California are almost where they were in 1997. Actually they’re down by about 2000 houses (chart in the article below). In 97 interest rates were 8+% and you needed to come up with a minimum 10% down payment because banks were still legally required to follow proper lending standards.
FYI:
One living in SoCal in the early to mid 90s couldn’t give their house away. The home sales market was dead and full of REOs and short sales and that includes prime areas that were near the beach.
If you showed the least amount of interest in any property the agent would immediately let you know that the price could probably be negotiated lower.
http://journal.firsttuesday.us/home-sales-volume-and-price-peaks/692/
“Home sales in California are almost where they were in 1997.
Precisely. Housing demand is at 21 year lows nationally.
You would think sellers would get a clue and start slashing.
‘The air is leaking out of the housing bubble. Detached house prices are finally sinking’
Only since the spring of 2016.
I’ll bite. What, specifically, shows air has been leaking out since 2016? Any narrative you could provide would be helpful.
Housing
Gulf Breeze, FL Housing Prices Crater 7% YOY As Mortgage Defaults Ramp Up
https://www.movoto.com/gulf-breeze-fl/market-trends/
What, specifically, shows air has been leaking out since 2016?
I was wondering that too. In 2016 housing was still red hot in my neck of the woods, with double digit appreciation and bidding wars.
I know a younger couple who bought a shack here for about 100K after the previous crash. Realtors cold call them, telling them they can get high 200’s for it and that “it’s a great time to trade up” (isn’t it always?). I remind them that their P&I is less than half of what the rent is on a 2 bd apartment and that if they “trade up” they’ll also be trading up to a bigger payments, bigger taxes, bigger maintenance, bigger utilities and bigger insurance fees.
A primary residence is almost always cashflow negative (i.e. an expense). The only way to avoid that is to have renters in your primary residence or perhaps start a brothel.
However, as most people I suspect have a house for the lifestyle it affords, it seems unlikely they would be able to mitigate the expenses.
Neuro… Or maybe they bought it simply to have a place to live?
“bidding wars”
Another USH fabrication.
All my coworkers had bidding wars when the sold their shacks these past few years, with multiple offers the day or the day after they listed. It’s not a fabrication. It’s insane, but it’s not a fabrication.
I got to hear about this at lunch. Property ladder, building equity, blah, blah. If I dared to say it was a bubble, everyone would roll their eyes.
“If I dared to say it was a bubble, everyone would roll their eyes.”
I remember a lot of that back in 2005 - 2006
People who have cashed in their equity in their mind or otherwise do not like to hear about a bubble.
“All my coworkers had bidding wars when the sold their shacks these past few years, with multiple offers the day or the day after they listed.”
Because of REALTWHORE lies. That’s where “bidding wars” come from.
Assume the monthly payment is fixed for the “how much a month” family. If rates rise then the asking prices will fall… eventually. Until then the inventory of homes for sale will increase.
***
“The fed raises rates by 25 basis points…”
https://www.cnbc.com/2015/12/16/fed-raises-rates-for-first-time-since-2006.html
***
“We no longer have business cycles, we have credit cycles.” —Peter Boockvar
Ben Bernanke, “rates will not be normalized during my lifetime”.
https://www.zerohedge.com/news/2014-05-17/bernanke-shocker-no-rate-normalization-during-my-lifetime
Pretty much zero interest rates is what I throw at people who try to convince me that we’ve “recovered”.
Ben is talking about Vancouver. It seems they reached saturation in 2016, and in the “not gonna give it away” phase. And then that foreigner tax kicked in and it’s Katie bar the door.
You can see for yourself if you read the hbb archives. It is not a narrative. All the MSM articles contain snippets hidden in the bluster of the main piece, that indicate something is amiss. Perusing the hbb archives is a great start.
“What happens to the economy of B.C., and of Metro Vancouver in particular, when the housing bubble bursts?”
The sale of popcorn rises?
“That’s something I worry about quite a bit, of late. The air is leaking out of the housing bubble. Detached house prices are finally sinking, sales are crashing, and oversupply seems certain.”
It’s about time!
“So the question isn’t if or even when (it’s starting now) but how bad will it be. I’m hoping the answer is not too bad, but I very much fear the opposite will prove true.”
That should be the best bet.
“The construction industry is currently the third largest employer in the province, with more than 233,000 jobs involved directly or indirectly.”
Poof will go this source of income.
“Real estate, rentals, and leasing made up more than 18 per cent of B.C.’s GDP last year – a larger percentage than oil and gas represents in Alberta.”
There goes another poof.
“We’re seeing the first, earliest stages now, as it takes a bit longer every month to sell a home in Metro Vancouver. The next stages are stagnation, layoffs in construction and real estate, and an exodus of some of the younger people who had come to B.C. to work.”
Oh, the pain!
“With home sales grinding to a halt, some speculators will hold on to their assets and refuse to sell – leaving homes either empty, or hopefully, available for rent. (Which should make renting more affordable for a few years, at least.) Others will be forced to sell at a loss, further driving down prices.”
This is when the sale of popcorn really begins to take off.
“The provincial government will take a hit to its pocketbook. Victoria has been getting a lot of money out of the property transfer tax. Prepare for deficit spending, new taxes, service cuts, or all three.”
Wow, who coulda predicted such a thing?
“Municipalities will take a lesser hit, but will be left to deal with vacant lots in the middle of patchy developments, and possibly with an increase in vacant homes. We still don’t know how extreme this will be, or how long it will last.”
With all the stupidity at large it probable will last a lot longer than most people expect.
“I think we’ll be lucky if B.C. gets through it without going into a recession. Frankly, I’d be very happy to be proved wrong on all of this.”
😁
“‘The issue of oversupply is not a new problem and has been there for a few years and the continuous weakness of the unit market in inner-city Brisbane should have raised red flags for developers and lenders,’ said RiskWise CEO Doron Peleg. ‘What we are seeing now is the realisation of the risk that should have been identified at least a couple of years ago. Defaults have been rising and will continue to do so.’”
IOW those who do not learn from history are condemned to repeat it.
“One of the key factors was developers’ lack of foresight regarding unit oversupply as well as the impact of lending restrictions introduced in 2014. It seems there was no methodological and structured risk-management approach including identification, assessment and mitigating action plans to address those risks. Overall, it seems they were too optimistic about the projected market value, and it is highly likely that the price they paid for the land was also too high,’ he said.”
What a bunch of dummies.
(snip)
“The point is that if developers and lenders put more proper risk-management practices in place, this could all be avoided,’ he said.”
Bahahahaha … fat chance.
‘Starting in the early 2000s, ‘fake’ cities and knockoff global cultural landmarks have sprung up in all corners of the country’
From the Lebanon article:
“The stagnation we are facing is a reaction to what happened in 2017, it reflects the state of the economy which has its own troubles,” Hayek said, before maintaining that the slump “has nothing to do with properties or prices.”
AFP has this:
‘The online battle for the truth’
‘False information is saturating political debate worldwide and undermining an already weak level of trust in the media and institutions, spreading further than ever on powerful social networks.’
Now check this out:
‘Seymour Hersh’s New Memoir Is a Fascinating, Flabbergasting Masterpiece’
‘Two hundred and seventy-four pages after the Chicago anecdote, he describes his coverage of a massive slaughter of Iraqi troops and civilians by the U.S. in 1991 after a ceasefire had ended the Persian Gulf War. America’s indifference to this massacre was, Hersh writes, “a reminder of the Vietnam War’s MGR, for Mere Gook Rule: If it’s a murdered or raped gook, there is no crime.” It was also, he adds, a reminder of something else: “I had learned a domestic version of that rule decades earlier” in Chicago.’
“Reporter” demonstrates that Hersh has derived three simple lessons from that rule: 1. The powerful prey mercilessly upon the powerless, up to and including mass murder. 2. The powerful lie constantly about their predations. 3. The natural instinct of the media is to let the powerful get away with it.’
“1. The powerful prey mercilessly upon the powerless, up to and including mass murder.
“2. The powerful lie constantly about their predations.
“3. The natural instinct of the media is to let the powerful get away with it.”
Easy peasy if the total population is thoroughly dumbed-down, not so easy if it isn’t.
Your choice.
John 8:32.
This is Chicago.
The powerful are the democrat politicians and public unions.
They constantly lie with the biggest “it is for the children”
The fake legacy news media has never turned on them and let them get away with it.
Silver Oxide
Are u in ?
Any opinions on what to buy?
I was thinking ag was coming back ,but nope
Any opinions on what to buy?
July is Ice Cream Month, so buy some Butter Pecan.
Heavens, i’m a fed, not a miracle worker txpers. Buy Mountain House. The blueberry granola is delicious.
Speaking of being dumbed-down, how many of you totally dumbed-down ignorant pukes believe this prediction to be true? …
“Sea-Levels, Rising Up To 23 Feet, Could Sink More Than 1,400 US Cities By 2100: Study”
http://www.ibtimes.com/sea-levels-rising-23-feet-could-sink-more-1400-us-cities-2100-study-1365801
You know I have always believed AGW is wildly overestimated to justly global government. Inches not feet is much more likely
We had four to eight inches in the last century and my best guess is four inches in the next century based on the sunspot cycle.
“my best guess is four inches in the next century based on the sunspot cycle.”
I’ve been looking at sea levels from Connecticut to SE Florida since 1965 and I have zero inches of sea level rise so if we’re going to get four inches in the next 53 years the sea had better get busy rising.
yep, rising sea levels is negligible. What the fakers point to is erosion, the vast majority is human induced - building right on the shore suspending the normal but slow rate of erosion which opens the door for typical storm cycles to accelerate it in adjacent areas plus the choking off of streams and rivers that help replenish the shores. This was all understood over a 100 years ago and captured in some excellent books. Of course people are ignorant of history, science, finance and just about everything except how to shovel gobs of junk food into their gaping maws or obsess over what passes for (((entertainment)))
And the only solution is bigger and bigger government, more and more regulations and higher and higher taxes.
This was also the left’s solution to global cooling, global warming, climate change, Al Gore predictions, the homeless and the ozone.
how about building more nukes
That is one of the reason I know the entire global warming movement is a sham.
If true and if progressives/liberals really believed it - they would be ape sh*t pro-nuclear power.
Instead, they are vanguard of destroying this greenest of the green power sources.
Another reason is when “leading scientists” found flaws in their “data” that global warming was not as severe as they thought - and become disappointed.
Another is when Al Gore and other leaders says the “science is settled” and there will be no more debate - meaning they have no faith in what they believe
Nah, the libs think they can replace both fossil and nuke with solar. Right, and then import millions of third-world peasants who breed at four kids apiece. All while advocating a living wage.
What Liberals want is a Carbon Tax to fleece the middle class of more money. Give the Carbon Credits to their well-connected friends and then sell them to the public for $$. The never ending quest to create a country of poor, government dependent plebes..
One of the funniest things I read was a how a startup (2001-2004 time frame) gave its employee bonuses in “Carbon Credits”. They bought a bunch of credits that went to saving a farm from being developed - I think it was in Indiana. One the employees simple stated ” I would of rather had the cash..” - LOL.
The Demorats preach low carbon footprints while flying all over the world by jet plane. They protest guns while employing armed personal security. They pretend to champion the little guy while diligently working to absolutely destroy his quality of living. They cry out for higher taxes while at the same time squealing about the loss of personal tax write-offs.
That’s like when Pelosi and Shumer claimed tax cuts would kill millions. Leftists love hysterics. That is cuz they know their low IQ voters beleieve whatever CNN and MSNBC tells them.
Not I !!
Wasn’t at least part of New York City supposed to be submerged years ago?
I believe failed presidential candidate AlGore predicted Miami would be fully submerged by 2015, in his movie.
And the NYT predicted the generation of the 80s and 90s would be the last to experience snow as children.
How did that all turn out?
Al Gore starting in “An Inconvenient Lie”
http://www.climatedepot.com/2017/08/02/report-al-gores-home-energy-use-surges-up-to-34-times-the-national-average/
It is all OK - he is rich and able to buy and use all the “Green” energy he can use.
The Dummy plebes on the other hand will need to by his Carbon Credits to play - if he had it his way..
Keep in mind that in the late 70’s/early 80’s, scientists told us, (and I was MS science candidate at the time) global cooling would have us living underground by 2020 if we were to survive due to global cooling.
Oops guess we got that wrong.
If you can understand why the Northern Hemisphere goes through an ice age every 250,000 years and the Southern Hemisphere doesn’t get them you will be a step ahead.
hello friends,
who is the best payday lender?
See me.
‘When the residential real estate market is a rising market, most people – perhaps with the exception of first time buyers, are happy homeowners and investors. When the market turns and drops, it is not for the faint of heart.’
he was a swarmy socialist
key-ens.02
Toronto building way more condos. How will this end?
“The vast majority of construction are condo apartments. CMHC counts 55,939 apartment units under construction, the highest number since 2014. To understand just how many condos this is, we can look back to the “condo bubble” of 1990. The indisputable bubble saw a ratio of 1 unit under construction, for every 3 people the region gained. Today, we’re at a ratio of 1 unit for every 1.23 people the region is expected to gain.”
https://betterdwelling.com/city/toronto/toronto-hits-a-multi-year-record-for-new-condos-under-construction/
Why Is ‘Affordable’ Housing So Expensive to Build?
Joe Cortright Oct 19, 2017
More broadly, the case has been made that much publicly subsidized affordable housing costs much more to build than market rate housing. Private developers are able to build new multi-family housing at far lower costs.
plenty of comments
https://www.citylab.com/equity/2017/10/why-is-affordable-housing-so-expensive-to-build/543399/
Woked:
“name one item controlled by gov‘t that is now cheaper and higher quality”
GPS.
Polio vaccine.
Granted, those were times when out govt was more functional and less partisan.
You really think a GPS device for your car or phone would be cheaper and higher quality if the government was in control of making it?
Oh, you mean the satellites designed and primary mission is for the US military.
Just like saying the F35 is cheaper and higher quality.
Cause it is the only one out there. Paid 100% by taxpayers with no expectations of a ROI.
‘You really think a GPS device for your car or phone would be cheaper and higher quality if the government was in control of making it?’
They did make it, and continue to upgrade / maintain it.
Are you one of those small gov’t / pro life individuals?
They don’t make the devices on which we access GPS. You can’t tell me you’d rather have the government producing cell phones.
Healthcare and education.
Yeah, right.
Both of these are in such great shape.
“name one item controlled by gov‘t that is now cheaper and higher quality”
Given how theyve driven medicine and education prices sky high and quality in the gutter, count those two items out.
If you needed your hip replaced, where would you go to get it done? Canada? Mexico? India? France?
Those are all failed socialized medicine countries too just like the US.
Look at % of GDP spent on healthcare on state run, single payer systems vs. what US spends. US still has a large private aspect of health care system. With the US system, the question is whether you will be able to afford to get a hip replacement in the US, or take the meds you get, or even see a provider. And if you can, it is way more expensive. You might have health insurance, but not be able to afford your care. As an RN, I see this day-in and day-out.
Regarding education, a state-run university is way more cost-effective than most private schools which, with few exceptions, are scams that load students up with debt for useless degrees (e.g. Trump University, Corinthian college, etc.). Many private, for-profit universities that haven’t shut down are totally screwing their students.
“name one item controlled by gov‘t that is now cheaper and higher quality”
And the final verdict is: None.
Gresham, OR Housing Prices Crater 12% YOY As West Coast Foreclosures Skyrocket
https://www.zillow.com/gresham-butte-gresham-or/home-values/
*Select price from dropdown menu on first chart
for the Techies…….i find this stuff incredibly fascinating
In a cosmic first, scientists detect ‘ghost particles’ from a distant galaxy
Four billion years later, at Earth’s South Pole, 5,160 sensors buried more than a mile beneath the ice detected a single ghostly neutrino as it interacted with an atom. Scientists then traced the particle back to the galaxy that created it.
https://www.newstimes.com/news/article/In-a-cosmic-first-scientists-detect-ghost-13069715.php?cmpid=fbsocialflow
From the Saudi Gazette article:
“He attributed the fall to a global economic downturn.”
I thought the global economy was booming?!
As for expats leaving Saudi Arabia, I remember reading that they expected a lot of guest workers to be let go after women were allowed to drive. Apparently many of them were employed mostly or exclusively to drive women around.
Funny how they have lots of foriegn guest workers and yet little illegal immigrants or “refugees.”
How can they do that without being called racists?
Apparently many of them were employed mostly or exclusively to drive women around.
Sounds like a good gig…except the women were supposed to avoid strange men, right? Voluntary eunichs for pay? Or how did that work?
Cape Coral, FL Housing Prices Crater 6% YOY
https://www.movoto.com/cape-coral-fl/market-trends
I think they are all rookies not stars but still they could have done much worse with a portion of their new found fortune.
NFL stars who thanked mom with awesome gifts this offseason
By Nick Toney
Published: July 13, 2018 at 02:05 p.m.
http://www.nfl.com/news/story/0ap3000000940259/article/nfl-stars-who-thanked-mom-with-awesome-gifts-this-offseason
debt = money
the global economic system had added trillions in debt since the 08 crisis.
The FED will sacrifice stocks to keep bond yields low.
They want those stock holders to sh@t bricks and buy all the bonds they are unloading via QT. They need buyers.
corporations have been the biggest buyer of stocks since 2008.
Stocks and houses are protected asset classes in the Fed’s monetary dominion. This you need never worry about losing money by owning them. So back up the truck, load up on as many stocks and houses as your borrowing capacity allows, and profit!
I haven’t in a long time and I don’t know why but I just felt like ordering Papa John’s tonight.
I never liked their pizza, it was always soggy and the sauce was too sweet.
“I never liked their pizza”
Me either, but I always try to support where the Globalists attack.
Los Angeles, CA Rental Rates Crater 12% YOY As California Housing Demand Plummets To 21 Year Low
https://www.zillow.com/los-angeles-ca-90024/home-values/
*Select price from dropdown menu on rental chart
News
China’s Empty Cities Sure Don’t Come Cheap
Ivan Martchev | Tuesday, 10 July 2018 14:02 (EST)
As I watch the Shanghai Composite melt like spring snow, courtesy of the overdue trade tensions with the United States, I am beginning to see headlines about how President Trump’s policies could cause a global recession. If this turns out to be an ugly trade war of the 1930 Smoot-Hawley Tariff Act type, those headlines may very well turn out to be warranted, but in the case of China, I don’t believe Trump’s tariffs will be the cause of China’s recession. Instead, it will be their epic credit bubble that has now popped and is deflating, as evidenced by their $1 trillion of forex outflows since 2014.
To China, Trump’s tariffs are what Lehman Brothers’ failure was to the Wall Street Crash of 2008 – the catalyst to the crash. It has been rather amusing to hear multiple times that “if Lehman had been bailed out” (a course of action I was in favor of), “Wall Street would have not crashed.” While the sell-off would not have been as quick or as sharp with such a bailout, the sell-off in the U.S. stock market would have happened, and it likely would have had a similar magnitude, but over a couple of years instead of one.
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Does it seem odd to others that the Chinese investors are still snapping up American residential real estate, given that their real estate bubble has popped, their economy is in the crapper, and Trump has schlonged them with massive tariffs?
short sellers have been used and abused for 10 years.
As long as there is a wall of worry and lots of doubters they can continue to manipulate markets.
corporations are all in.
corporate equity is being exchanged for debt transferring ownership to the executives.
“corporate equity is being exchanged for debt transferring ownership to the executives.”
Wrong. Corporate equity granted to executives is immediately cashed out by the executives.
The net result: Ownership of the company is not transferred to the executives but the wealth of the company is.
Irvine, CA Housing Prices Crater 12% YOY As Foreclosure Rate Accelerates Statewide
https://www.zillow.com/irvine-ca-92618/home-values/
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