Do Sellers Feel Some Sense Of Anxiety?
The Sun Sentinel reports from Florida. “South Florida home prices posted steady gains in the second quarter, but slower growth would be better for the housing market long term, according to a new report. Two Florida markets, Palm Bay and Port St. Lucie, led the nation with single-family price increases of more than 20 percent. ‘Considering that wages have barely budged over the last few years, prices in some areas are still rising too fast, due to the fact that there’s just not a lot of supply out there,’ said Adam DeSanctis, a spokesman for the Realtors group.”
“Analysts say large investment funds paying cash for homes are pulling out of the region, but there are still enough investors outbidding young professionals and families trying to buy with 3 percent down payments on mortgages backed by the Federal Housing Administration. First-time buyers often need to increase their down payments to be more competitive with investors, but soaring rental rates make it hard to save the necesary 10 percent to 20 percent, said Jack McCabe, a housing analyst in Deerfield Beach.”
“‘It’s extremely difficult for first-time buyers to save up for a down payment,’ he said. ‘They’re trying to hold on to what they have, let alone trying to make a move.’”
KX News in North Dakota. “While western North Dakota has seen a change of pace after the drop in oil prices, the housing market in the Magic City is still moving–and it still comes with its challenges. Recent Home buyer Jamie Humphries’s new position at the Minot Air Force Base uprooted him from Colorado Springs, a market severely different for a home buyer. Partly because he needs to hold two mortgages while waiting for his family. ‘They’re going to be here in a year. My son is a senior in high school and we didn’t want to pull him out a year for school,’ he said.”
“‘It’s a good time to be buying, it’s a good time to be selling and I think where Minot is at is were people predicted it would be and that’s at a little bit of a correction,’ said Nathan Stremick/ Realtor, Coldwell Banker.”
The Orange County Register in California. “Orange County homeowners are late to the party this year, with a summertime listing spree pushing the inventory of homes for sale to a 10-month high long after buying peaked in early spring. The latest edition of Steve Thomas’ ReportsOnHousing shows the supply of homes for sale rose 27 percent in the 16 weeks from April 9 to July 30. Do they want to cash in on a surprisingly strong market? Or do they feel some sense of anxiety about the future of real estate prices?”
“Thomas hopes sellers entering the market have realistic views about what their homes are worth. ‘Sellers wishing to stretch the price will simply sit on the market until they finally wake up to the reality that they are overpriced and will attract no offers,’ Thomas wrote.”
The Washington Post. “For the past four months, year-over-year increases in the median price for the D.C. region have hovered around 1 percent after jumping 4 percent in December, January and February. Not every jurisdiction is experiencing price increases. Close-in suburbs, with the exception of Alexandria and Montgomery County, are faring better than the outer suburbs. But even some close-in suburbs are seeing price declines. Alexandria’s median price dropped to $489,000 last month from $530,000 in July 2014, a 7.7 percent year-over-year decrease. Montgomery County’s median price fell to $419,900 from $429,000, a 2.1 percent year-over-year decrease.”
The Denver Channel in Colorado. “The feeding frenzy continues for home buyers in the Denver Metro area. However, according to the Denver Metro Association of Realtors (DMAR), there are more homes available. The study shows there was a 20% increase in new listings at the end of July, compared to the end of June. The DMAR said the abundance of new listings helped ease the average and median sold price of homes from $366,419 in June to $314,900 in July, respectively.”
“Even with the market slightly easing, Denver Realtor Brian Fisher still advises buyers to be ready to purchase when the right house comes along. ‘The market’s loosening a little so the buyers have a better opportunity of purchasing, there isn’t [sic] as many contracts coming in per home and so the sellers tend to be accepting buyers coming in with their price,’ said Fisher. ‘You have to be ready, you know, ready with your lender, ready to purchase to get the contract.’”
WKNO in Tennessee. “Home sales in the Nashville area shot up again in the month of July, approaching the level of activity seen in 2006 during the last housing boom. But condos remain a weak spot. After months of ups and downs, the median price of a condo hit its lowest point this year — $161,000, down $10,000 from the same month last year. Colton Wherry just sold a newish condo in a downtown high-rise. To his surprise, he had some trouble unloading his unit. Ultimately, he sold it for a loss even though he’d intended the purchase to be a short-term investment. He started out asking more than $400,000 and settled for $330,000.”
“While Rhythm is relatively new, even newer condos are being completed in the vicinity. ‘We are competing with a bunch of new stuff that is coming on the market,’ Wherry says. ‘And in addition to that I know Millenials, a lot of them aren’t interested in buying anything right now.’ Wherry says he now understands one reason so many people are choosing to rent instead of taking the risk to buy downtown. ‘I could have rented a decent place — 800 or 1,000 square feet — for about the same price as what I’ve paid for two years owning a unit,’ Wherry says.”
“For Wherry, he’s getting out of condos all together. He just purchased a house out of foreclosure that he hopes to flip for a profit.”
‘Partly because he needs to hold two mortgages while waiting for his family’
Not the same town, but:
‘The population of a U.S. oil boomtown that became a symbol of the fracking revolution is dropping fast because of the collapse in crude oil prices , according to an unusual metric: the amount of sewage produced.’
‘Williston, North Dakota, has seen its population drop about 6 percent since last summer, according to wastewater data relied upon heavily by city planning officials.’
‘The recent high-water mark for Williston’s population was 33,866 in August of last year, just before the oil price collapse. Crude oil has fallen more than 50 percent in the past year and hurt many companies’ finances, leading to massive cost cutting, including the cancellation of projects and lay offs.’
‘By June of this year, the town had shrunk to 31,800 people, according to the sewage data. Many newly built apartment complexes are less than 80 percent full, according to real estate experts as supply overtakes demand.’
I’m guessing Jamie here is a gamblin’ fool, betting that his Colorado Springs shanty will keep going up while his new ND shack goes up too.
I don’t think the pain has even begun to set into the oil patch yet. These companies and their employees have been brushing off the crude price drop as some temporary blip and are assuming happy days are once again right around the corner. It will end in tears for most.
Mom data is noise
Weirdly in dc area you had turnover w no price appreciation
‘Mom data is noise’
The median price is a lagging indicator. If it is falling prices have probably been falling for months. How’s that for noise?
‘Denver Realtor Brian Fisher still advises buyers to be ready to purchase when the right house comes along. ‘The market’s loosening a little so the buyers have a better opportunity of purchasing, there isn’t [sic] as many contracts coming in per home and so the sellers tend to be accepting buyers coming in with their price’
What, there’s not 20 offers above asking? No letters and videos all about the love?
When the cheerleaders are on the bus, the game is probably over.
^
:mrgreen: 
“Two Florida markets, Palm Bay and Port St. Lucie, led the nation with single-family price increases of more than 20 percent.”
Where in the world are the jobs to support the economies of these worn-out old 1960’s retirement villages turned bed-room communities. These developer created towns have no core, no industry, no natural environment to want to build an industry. Just low, flat swampy land with thousands and thousands of cheap little ticky-tacky houses. In twenty years, these places will be massive ghettos.
“Where in the world are the jobs to support the economies of these worn-out old 1960’s retirement villages turned bed-room communities.”
The jobs to support Port St. Lucie are in Palm Beach County. Just like the last time, people that have been re-bubbled out of buying a house in Palm Beach County are being told by Realtors that they can still afford a house in Port St. Lucie.
I just watched this movie, it’s about 10 - 12 years long.
I lived in PSL, the place know as Port St. Loser. I bought a foreclosure in in 2012 ans sold it in 2013. This is a city of rednecks, lowlifes, drug addicts, missing teeth, and tattooed idiots. There is nothing to do for a normal professional person. The restaurants suck and the only entertainment is movies and bowling. What a dump. I can’t wait for the next crash
Deltona, north of Orlando is already headed that way. A 1960’s retirement community that has no downtown, no main streets, no amenities. You have to drive through subdivisions to get to your subdivision. An 1,800 SF house is a mansion.
Fact: There is over 100,000 people in Deltona and absolutely zero industry. Not even redneck industries like you have in small town Florida. Getting hard to find English speakers.
When I drive through there, I see grown men (not retirement age) just walking around aimlessly. No sidewalks or bike paths. Places like this are going to going to explode when the next recession hits and the benefits expire.
There aren’t any jobs there. House price appreciation is supposed to supplement an income or replace it outright. And I agree with you on their fate; it might be worse than that.
That’d be great if depreciating assets like houses actually appreciated.
They don’t. Houses depreciate rapidly.
Robert Shiller: “Houses Depreciate”
http://www.pragcap.com/robert-shiller-dont-invest-in-housing
TRUTH.
Good article, thanks.
Oh dear…
‘U.S. stock index futures indicated another sharply lower open on Wednesday, with Dow futures down briefly more than 150 points after China moved to devalue its currency for a second day in a row.’
‘The People’s Bank of China set the yuan fixing at 6.3306 against the U.S. dollar on Wednesday, 1.6 percent weaker than the previous day’s level.’
Suck ‘em in one day, shake ‘em out the next.
A case can be made that China’s devaluation is good for stocks just as easily as the case can be made that it is bad for stocks.
Right now it appears that the case is being made that China’s devaluation is bad for stocks. But stay tuned …
It is interesting to me how markets react to news - react to news as presented (and spun) by the PTB controlled MSM.
IMHO it’s all in the spin. Control the spin and you control the actions of the masses.
‘The yuan extended losses, to trade around 6.42 per dollar, its weakest level in four years, fueling expectations of more sustained weakness and a feared “currency war” - where countries artificially weaken their currencies to gain a competitive advantage.’
“The Chinese renminbi has now fallen by 3.6 percent since the end of last week against the U.S. dollar. We’re not much wiser than we were about how far the Chinese authorities will let the currency fall (much closer to 7 yuan against the dollar in due course is an opening guess) but after letting it weaken again today the PBoC has been seen intervening to calm the market,” said Kit Juckes, global head of foreign exchange strategy at Societe Generale.’
What I said yesterday:
‘Globalist: Did they just screw us?
Globalist 2: I think they screwed us.
Globalist: They did! We just got screwed!
This just in: China announced a new currency, which will feature President Xi Jinping wearing a sombrero. The name of the new currency is the Peso, which in Chinese roughly translates “worthless Mexican color-paper”. The move was suggested by a New Mexico consulting firm, Too Dan To Fail.’
Down periscope, dive, DIVE!
http://finance.yahoo.com/q?s=BABA&ql=1
Alibaba Group Holding Limited (BABA) -NYSE
71.53 Down 5.81(7.51%) 9:40AM
Dow Craters 400 Since Monday
http://www.marketwatch.com/investing/index/DJIA
Manipulating the Yuan or “puking dollars”?
http://www.chinastocks.net/china-begins-puking-dollars/
The article claims the Chinese government is in control as always, but uses the word “puking”. Too funny.
‘China’s decision to depreciate the yuan was presented (albeit surprisingly) to the world as a way to bolster a recently floundering economy, but Art Cashin said Wednesday that Wall Street remains concerned for two reasons.’
“What’s scary here is that people are beginning to doubt the sophistication of the Chinese officials,” the director of floor operations at UBS said. “Whether they are adept enough and clever enough to know where to move; they didn’t look very adept when they were trying to save their stock market.”
http://finance.yahoo.com/news/cashin-wall-streets-real-china-163831717.html#
Ya know Art, that’s something I’ve been mentioning for a while. Because it struck me as kinda unsophisticated to piss off $7 trillion bucks on empty cities and wind farms that don’t supply anything. And they polluted the heck out of everything doing it.
“$7 trillion bucks”
It was probably well worth sending the people’s money down a rat hole to personally get the billions in skim. Perhaps this is why they are arresting the Tigers.
Mmmuuuwhahahahahahahha..mhahahaha….
I’m sure others find themselves wondering whether U.S. housing is a special asset class, destined to continue increasing in value while other risk assets like stocks and commodities get flushed down the toilet?
Or does the effect of global financial turmoil on U.S. housing remain to be seen, due to a much less efficient flow of information for housing than for stocks or commodities?
The PPT has entered the picture!
‘Why this Houston luxury homebuilder is expanding out of Texas’
‘Several homebuilders are considering expansion to other markets amid rising land costs and the oil slump in Houston. Did that play a role here?’
‘Not at all. We began planning our expansion about 18 months ago, before concerns about oil prices and before our market got kind of heated. Some buildings will grow by expanding into different product offerings and prices points. We’re not venturing out though. We’re staying with our luxury custom home market with large lots and a higher price point. I don’t want to say our market is saturated, but there’s only so much opportunity to build the types of homes we build.’
And he’s going to Nashville.
‘Wherry’s getting out of condos all together. He just purchased a house out of foreclosure that he hopes to flip for a profit’
‘Midland ranked No. 2 in the Lone Star State for median home prices in the second quarter, according to Texas Realtors Quarterly Housing Report, an indication that home values have held steady despite the year-long downturn in oil prices.’
‘The report estimated that the median cost of a home in the Tall City was $245,000, down 2 percent year-over-year and second only to Austin-Round Rock’s median price of $269,900, which increased by 10.2 percent. Median home prices for the state overall are listed at $200,000, up 8.1 percent year-over-year.’
‘Average homes on the market for the first half of 2015 are at 488 per month, according to PBBOR figures. That is a 65 percent increase over the first half of 2014, when there was an average of 296 homes on the market each month.’
As I’ve posted previously, things have changed since the end of June:
772 properties found
Midland, TX Real Estate and Homes for Sale
http://www.realtor.com/realestateandhomes-search/Midland_TX/type-single-family-home,condo-townhome-row-home-co-op,multi-family-home,mfd-mobile-home
321 properties found
Midland, TX Price Reduced Homes for Sale
http://www.realtor.com/realestateandhomes-search/Midland_TX/type-single-family-home,condo-townhome-row-home-co-op,multi-family-home,mfd-mobile-home/show-price-reduced
Feed lots and petrol fumes, no place but Midland.
Have you been to Greeley Colorado - Midland and Greeley based on the same odor.
“Two Florida markets, Palm Bay and Port St. Lucie, led the nation with single-family price increases of more than 20 percent.”
Is this from 2005?
‘At a time of increasingly risky lending in the commercial-mortgage market, Moody’s Investors Service appears to be backtracking on its role as guardian of bond investors, according to Bank of America Corp.
The credit-rating giant surprised the market last week with plans to change the way it calculates default risk in a type of commercial mortgage-backed security. The changes by Moody’s will make it easier for “marginal” firms to borrow potentially excessive amounts based on the values of their buildings, according to Bank of America analyst Alan Todd.’
“It seems to be contrary to their comments they’ve made previously,” Todd said in a telephone interview. “It just sets the stage for another leg up in underwriting aggressiveness.”
‘Moody’s had been all-but shut out by underwriters on grading these kinds of bonds. So the move will likely help it win business. The change in calculus by Moody’s, its first major shift since 2000, makes it easier and cheaper for bond issuers to receive top credit ratings.’
‘The looser standards also may lead to liberalizations on other types of securities, Todd said, referencing so-called conduit deals in which multiple loans get bundled together. Higher ratings are a key part of what enables lenders to extend mortgages to property investors seeking to buy, sell and refinance real estate investments.’
‘During the housing bubble, the widespread practice of so-called ratings shopping fueled a “race to the bottom” among credit graders as they sought to win business, helping to fuel the later financial crisis, according to a 2011 report by a congressionally appointed panel.’
“We don’t know until we know if this is going to be a problem,” said Larry White, an economics professor at New York University’s Stern School of Business. “But surely they don’t want to be wrong a second time.”
‘FULTON, Ill (KWQC) – Realtors say a lack of newer homes and good rental properties is making it hard to find “home sweet home” for dozens of new Thomson Prison employees.’
“There’s such a lack of inventory,” said Bob Allmandinger, broker with Mel Foster Co.’
‘Drive around Fulton, Illinois and you’ll find them. Yard signs advertising homes for sale but realtors say the majority of listings are older homes that need updates that aren’t satisfying their clients.’
“We need more quality inventory,” said Allmandinger. “Will we be scrambling later on as the numbers ramp up dramatically? Absolutely. That’s a good problem to have.”
‘Cities like Fulton are using their websites to connect, posting Mayor Larry Russell’s cell phone number and even offering personal tours to help with relocation.’
“Come check us out,” said Mayor Russell. “We’re pretty proud of the area being a tourist community and a nice, safe community.”
‘Thomson Prison is now home to about 80 inmates. A prison spokeswoman says 203 staff positions are filled and 33 more employees are expected in the next 2-3 months. The prison is expected to employ 1,100 staff when fully operational.’
‘Allmandinger says his company is helping families from states like Florida, Colorado, and Texas. He says they’re expecting the area’s housing shortage to get worse as the prison’s cells continue to fill up. “The influx of business is a huge benefit to the entire region,” said Allmandinger.’
1100 employees for 80 inmates.
Man o man - even the Dept. of Ed doesn’t have ratios like that.
There’s our next jobs boom. Incarcerating each other. There are some counties in north Florida whose economies depend on prisons.
“Realtors say”
Thats where you stop reading and your bull$hit meter starts blaring.
Realtors say alot of things. Most of them untrue.
^ THAT
‘Sales of homes in the San Diego region slowed a bit last month following a busy June, but the numbers remained strong in comparison to last year, a local Realtors group reported.’
‘The San Diego Association of Realtors reported that 2,251 single-family homes changed hands in July, down 11 percent from the month before, but 12 percent higher than the same month in 2014.’
‘As for attached homes, 1,159 condominiums and townhouses were sold in July, 8 percent fewer than June but 14 percent more than July of last year.’
‘For attached homes, the median price was $341,000, a 3 percent decrease for the month but a 5 percent increase from a year ago. “I’m still very bullish on this housing market, said SDAR board President Chris Anderson. “Mortgage applications are still keeping us very busy this summer. Even if interest rates begin to rise gently later this year, I’d be optimistic that the market is stable enough to sustain it.”
‘Phoenix is among the cities racking up credit card debt the fastest. The growth rate in credit card debt was 308 percent year over year in Phoenix, ranking it 13th in a survey of the 25 largest metropolitan areas by Equifax.’
‘However, the increase in credit card debt in Phoenix was huge — almost $8.5 billion in the second quarter, compared with roughly $8 billion a year earlier — was not among the highest: 6.7 percent, compared with 5 percent nationally.’
‘Total credit card debt in the U.S. rose to $634 billion at the end of June, compared with $604 billion a year earlier.’
“Every major market has seen increases in credit card debt, even those cities where the housing market issues are not completely resolved,” Assad Lazarus, interim unit leader of Equifax Personal Information Solutions, said. “This shows that American consumers are more confident about their financial futures, and that means the U.S. economy has entered an expansion mode.”
That activity does seem to be ramping up. I’ve gotten four credit card offers in the mail in the last week alone. Unlike Equifax’s Assad Lazarus (is that name for real?), under the current circumstances I don’t think increases in credit card debt mean confidence or economic expansion.
How fast was this kind of credit expanding just before the tire blew on 2008??
What we really need to know is what these people are buying with this CC debt. Are they buying ATV’s and kitchen upgrades? Or are they buying groceries or paying medical bills?
Washington, DC Housing Demand Falls 20% Since 2013; Prices Fall
http://files.zillowstatic.com/research/public/Metro/Metro_Turnover_AllHomes.csv
dc area had neg wage growth of - .5%
one of the few markets matched up w Zillow predictions
Vienna, VA Housing Prices Crater 15%; Inventory Balloons 53%
http://www.movoto.com/vienna-va/market-trends/
Silver Spring, MD Housing Prices Fall 7%; Housing Demand Down Statewide
http://www.movoto.com/silver-spring-md/market-trends/
Dallas-Fort Worth was among the top markets in the country for home price gains in a second-quarter comparison.
Through the first seven months of 2015, sales prices for preowned single-family homes were 12 percent higher than in the same period last year, according to data from local real estate agents.
North Texas sales of preowned homes rose 14 percent in July to a record monthly high of 10,719 purchases.
http://www.dallasnews.com/business/residential-real-estate/20150811-dallas-fort-worth-home-prices-up-12.5-in-realtors-survey.ece
Arcadia, CA Housing Prices Dive 8% YoY As Mortgage Defaults Mount Across State
http://www.zillow.com/arcadia-ca/home-values/
Lynnwood, WA Housing Prices Fall 11%; Seattle Housing Inventory Ballons
http://www.zillow.com/picnic-point-north-lynnwood-wa/home-values/
Fort Worth, TX Area Housing Inventory Balloons As Demand Craters; Prices Fall
http://www.movoto.com/fort-worth-tx/market-trends/
Denver, CO Housing Prices Fall 9% YoY As Inventory Skryockets 92%
http://www.movoto.com/denver-co/market-trends/
“For Wherry, he’s getting out of condos all together. He just purchased a house out of foreclosure that he hopes to flip for a profit.”
Yep - here is a guy who has no interest in buying a place to live in - he looks at RE as a flip to profit enterprise.
My dad had a builder buddy back in the day who had a saying: “He learns hard and it don’t stick with him.”
Wherry - you gonna be weary if you don’t start to learn from your mistakes there friend.
Where is ABQ Dan?
Now I am concerned - he hasn’t checked in here in days.
You there?
falling prices
‘Hedge-fund manager John Paulson, who made billions wagering against subprime mortgages, has started to profit from a U.S. housing bet that took longer to ripen: owning land. After acquiring about 35,000 lots since 2009, Paulson & Co. shifted toward selling last year and is accelerating its disposition pace, according to Michael Barr, who manages the firm’s real estate.’
‘Paulson — whose lot holdings put the firm almost on par with the 10th-largest U.S. homebuilder — is planning to slowly sell parcels in some projects where prices have rebounded sharply, while holding on to other properties. He’s joining other large land buyers who are selling into a housing market constrained by lot shortages after almost a decade of anemic construction.’
‘Builders replenishing land holdings are finding that prices for finished lots across the U.S. jumped 57 percent since the bottom in 2009, according to data from John Burns Real Estate Consulting. In some hard-hit markets where distressed properties lured investors, values have more than doubled in the past six years.’
‘Paulson is starting to sell relatively late compared with other firms that bought land after the crash, and price gains are now moderating. Angelo Gordon & Co., a New York-based firm with $27 billion under management, has sold or optioned about 80 percent of the 14,000 lots it acquired from 2008 to 2012, according to Louis Friedel, vice president of real estate acquisitions. Starwood Land Ventures, a unit of Barry Sternlicht’s Starwood Capital Group, has sold about half of the 20,000 lots it acquired since 2007 in California, Florida, Arizona and Colorado, Chief Executive Officer Mike Moser said.’
‘In 2012, for example, Paulson paid $17 million, or 6 percent of the outstanding debt, for a post-bankruptcy acquisition of 875 acres (354 hectares) in Lake Las Vegas, Nevada, according to the Contra Costa pension fund report. That’s less than $20,000 an acre in a market where homebuilders now typically pay $400,000 to $450,000 an acre, said Dennis Smith, CEO of Home Builders Research.’
“Land has a lot of convexity to it,” Shapiro said in a telephone interview. “If home prices go up 5 or 10 percent, land prices can go up 20 or 30 percent. You have to be careful because it also works on the way down, which is how people got really hurt.”
Now you boys and girls get out there and buy, because these billionaires know that there’s a shortage of land:
‘less than $20,000 an acre in a market where homebuilders now typically pay $400,000 to $450,000 an acre’
Land? Land prices fall precipitously.
Remember…… There is a globe full of land and 95% of it goes undeveloped.
If you paid more than $500/acre, you got ripped off.
Rental Watch - what say you to this news?
Remember our brief conversation a couple of months back re the price of land relative to increased local legislation? Don’t know ’bout you but I completely missed this part of the story - Amazed that Colony and Blackstone weren’t in this game - 20 to 30% increase in price for the same piece of dirt - yikes!!
And not a buyer in sight. Remember…. Housing demand is at 20 year lows and falling.
Dear Gawd, Please send land prices down the tube with commodities in order to slaughter these hedge hogs.
You can bet that houses have not been selling in Gary IN lately -
Interesting that the Chicago Trib now considers Gary to be a suburb.
By the way - my daughter was driving on the 80 from MI through extreme north IN a couple of days ago and noticed that the ‘Welcome to ILLANNOY’ sign on the Toll Road “Oasis” has been removed and replaced with a ‘Welcome to Chicago, Rahm Emmanuel, Mayor’ sign. Ah……yes - utopia indeed.
http://www.chicagotribune.com/suburbs/post-tribune/news/ct-lake-county-sheriff-s-officers-doubling-patrols-on-gary-streets-20150812-story.html
I recently drove from Chicago to Gary. In an attempt to avoid the traffic on southbound I-94, I took the Chicago Skyway and the Indiana Toll Road for the first time in years. The total tolls from the south side of Chicago to Gary have increased substantially and now are close to $10.
This is my personal gripe, but taking toll roads for 25 miles shouldn’t cost as much as dinner. I later read that Chicago had leased the Skyway for 99 years to a foreign joint venture, which has the right to all toll revenue. The Indiana road is privatized too, and is operated by an Australian financial services firm.
Correct there Snake -
10 bucks is just outrageous and yet there are folks who do that route several times a week - now imagine paying tolls that amount to a tank of gas.
re IN toll - look up an outfit called Macquarie - I had posted a while back how this group is being looked at for financial issues - essentially a ponzi scheme - I think if you google Macquarie you will find the articles.
The only time to buy is when nobody is in line behind you and you can keep talkin’ ‘em down. How low can you buy?
market flat, and this was going to be HA’s big day
Pick yourself up off the floor and cheer up and remember…. Nothing accelerates the economy like falling prices of all items to dramatically lower and more affordable levels…… nothing.
True for the honest economy. Really bad for the debt donkey with a full wagon.
Oakton, VA Housing Prices Fall 7%
http://www.movoto.com/oakton-va/market-trends/
when asked if RE is a good investment?
ask them if they’re by a reit w 6% realwhore+ 1.3% transfer total 7.3% transaction fees? vs. $7 to buy the reit fund
OUCH ~!
Average taxes on wireless bills in California reach a record 18%
but wpa is happy to pay
they’ll pop prop 13 somehow
a few more illegals w voting rights and boom