Bits Bucket for March 3, 2016
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The Housing Bubble
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Ok, I went to bed last night feeling pretty good, and I woke up at 3:30 a.m. and just put in a sick day because I am a nervous wreck. I can barely keep my thoughts straight, but I’ll do my best to lay it out here:
1. Got notice of non renewal yesterday
2. Also included was an offer to sell direct
3. The price is fair, but IMHO too high (if that makes sense)
4. There is nothing remotely close in rent or their asking price in this neighborhood
5. We’ve lived here since 2010. We’re a part of the neighborhood, especially with families. Our kids roam freely in their bikes, which is rare where I live. Always lots of people exercising… one of the few areas where nobody draws blinds and they keep their garage doors open (this is a thing I look for down here)
6. Neighborhood has a lot of amenities that others don’t (parks, waterfront parks, kayak launches, boat ramp, beach, etc.)
7. Our kids go to school right down the street, BUT, it’s a magnet, so we could live anywhere.
8. It’s 4 feet above sea level
9. No crime (5 years and the worst was a few kids going into unlocked cars and grabbing change)
10. No cell towers, no sinkholes, no enviro pollution
11. My wife and I both have good jobs in area, and we’ve been here 10 years. She’s into the area because she has family here; however, I could move to California, Montana, Arizona,etc. tomorrow. I’m always up for adventure.
12. If we decline their price, they’ll be able to easily get more on open market. I suspect they are trying to give us “direct discount.” We’ve had an incredible LL/Tenant relationship, and their offer truly reflects this. Am I just a cheap bastard?
13. Our housing expesnnse ratio would still be below 30%, around 25%. This is without my wife becoming an administrator (she has an interview soon). In other words, we can afford it.
14. My plan was to rent another year, then re-evaluate.
15. My wife is surprisingly neutral on this because she wants something with more space.
I’ll be here all day. The truth is this: I don’t want to buy, but my kids are totally plugged into the neighborhood and love it. I’m balancing being a cheap dude with being a reasonable dad.
Gah
Laslty, I truly believe we are at the onset of another leg down.
Have Suzanne research this, then do the opposite of what she recommends.
Actually, Muggy, this sounds like one of those rare instances where buying makes sense. Your kids only get one childhood and it sounds like they are happily escounced in your ‘hood. Your wife may want more space, but the years fly by and then the kids leave the nest (though in our Obama-Fed-Goldman Sachs “recovery” they may be living in your basement for life) and you no longer need all that room. It sounds like your gut is telling you what to do already. Remember, you’re buying a home, not an “investment.” Although if the Fed keeps debasing the currency, it might make sense to lock in a price now and pay it off in cheaper (debased) dollars.
Well said.
Life will throw you curveballs…
Life is also all about negotiations. Maybe you can get one more year of rent? Six months? Throw in a sweetener? Help get the house ready to sell? Etc.
Negotiate the selling price? The sellers are saving 6% of Realtor fees plus taxes, headaches, paperwork, open houses, break-ins, people stealing stuff, etc.
Also, start looking around. Talk to people. Talk to all your neighbors/friends. You will be surprised at what opportunities you may dig up.
U.S. News and World Report recently named Denver as the best city to live in America. I shared that on Facebook with the comment that you’d need at least a $300,000 household income to raise a family there.
“You work three jobs? How uniquely American” — George W. Bush
U.S. News and World Report recently named Denver as the best city to live in America.
Other cities in the top ten include San Francisco, DC, San Jose, Austin, Seattle, Raleigh, and Colorado Springs.
What were you saying about Denver not being no stinking progressive town, goon?
Since you insist on being right, I’ll concede that the fact that Denver is completely unaffordable for working families to live in proves that it is progressive.
Have another narrative, because I’ve got plenty.
You are the Nabob of Narratives.
Other cities in the top ten include San Francisco, DC, San Jose, Austin, Seattle, Raleigh, and Colorado Springs.
What were you saying about Denver not being no stinking progressive town, goon?
I can tell you one thing: Colorado Springs is not progressive. It’s home to “Focus on the Family” and the Air Force Academy, where there have been accusations that if you’ll be marginalized as a cadet if you aren’t a Protestant Fundamentalist. It’s also the birthplace on TABOR and Colorado Amendment 2.
I guess weather, traffic, crime and housing cost were not used as a factor.
I shared that on Facebook with the comment that you’d need at least a $300,000 household income to raise a family there.
FWIW, my nephew and his wife are raising a family on a five figure income, granted they pay their rent with a VA subsidy.
Hi Muggy,
The only thing you’ll change by worrying yourself awake at 3:30 is your ability to think clearly and how good you feel.
First off, worrying yourself sick isn’t going to help anybody and it sets a bad example for your kids.
This blog is a bit of an echo chamber on real estate which can easily cause a person to be afraid to do anything housing-related. In the last 5 years plenty of people have made money in this insane environment. But here’s the deal: you’re not investing. You’ve laid out a strong case for why you want to live where you do and it sounds great. It sounds like you can easily afford it - even if your wife isn’t working. She’s planning to get a job, too, which makes it even more affordable. Sounds like you would be buying a great place to live for the next 20 years.
Buying a house to live in is always a liability, not an investment. That doesn’t make it wrong. Don’t go into it thinking you’re going to make money. You’re buying something you can afford for your family that you think is worth paying for. Plus, since you’ve lived there you already know the weaknesses of the house that you might miss if you were buying it off the street.
Most people these days aren’t rooted. I think buying a house to live in makes great sense if you’re rooted. Of course, I come from a family line where most of my relatives have lived 40+ years in the same home…
Don’t let negative nellies talk you out of what you want.
Just my two cents.
You made some good points but let’s look at the fallacies;
“In the last 5 years plenty of people have made money in this insane environment.”
Not by buying a depreciating asset like a house. Maybe you meant stocks? And the statement is in direct conflict with;
“Buying a house to live in is always a liability”
Now this is a statement of truth and fact.
“Don’t let negative nellies talk you out of what you want.”
For the last month, I’ve had to endure a colleague(works in the other end of the trailer) belabor over and over how he ‘wants to retire early’, not pay for his sons university education and run off with some floozy he’s been hitting on the side.
He ‘wants’ to do this, asks my advice(over and over) and I’ve resorted to just telling him he’s a moron at this point.
Am I a negative nellie too?
Let’s look at the facts;
-Current asking prices of resale housing are 2.5x higher than long term trend.
-Current asking prices of resale housing are more than double and sometimes triple construction costs(lot, labor, materials, profit)
-There is no market of buyers and sellers of housing given the fact organic demand is at a 20 year low.
Given what we all know, do you really think it’s a good idea for the average person to sign up for decades of crushing debt now or anytime in the last 15 years?
Ex, I did not choose this situation. I’d obviously prefer to rent for a few more years. I’m going to tour an apt. complex right now that has a 3br available mid-May.
Then rent if it’s your preference.
My wife currently works, but will be promoted soon. We can afford the house with her current salary…
“Don’t let negative nellies talk you out of what you want.”
By all means, take the advice of someone that uses Realtorspeak to make his point.
And they’re off! :rolleyes:
By all means, take the advice of someone that uses Realtorspeak to make his point.
By all means take advice from a poor, bitter peahen whose let life run by him while he stands on the sidelines and spends his day hectoring the peacocks.
Peacocks, pea hens, donkeys. We’ve got all the barnyard characters.
Are the peacocks grass-fed?
Don’t forget the crows, CawCawCaw!
Michael Viking is a peacock?
That would explain his bird brained remarks.
Totally agree with Michael Viking. There’s a saying that always motivates me to make things happen (even when I’m not sure that it’s the absolute best financial decision):
Bite off more than you can chew and then chew like crazy!
The thing is, it doesn’t even sound like you are biting off more than you can chew. You’re just taking care of your family, well within your means (even when the market goes south).
As a 54 year old, I can attest that I can always find something to have angst about at 3:00am! Usually, it has something to do with my kids or grandkids.
Good luck in whatever you and your wife choose to do.
Nice but they’re not your losses to sustain.
lemming with an innertube: Bite off more than you can chew and then chew like crazy!
One has to be at least a little careful about the size of the mouthful.
Is “4 feet above sea level” a good thing or a bad thing?
Both.
It comes with obvious risks, but also benefits.
OK, that was the only yellow flag that I saw. Everything else points toward buying. A mortgage is not a jail sentence.
Since the crash, real estate has gone local again. That is, “we” as a nation may not see increasing house prices, but I do not believe that your neighborhood is on the verge of another leg down.
When you look at that apartment complex, ask them how much they plan to jack up the rent for that first renewal. Don’t be surprised if they blanch, then lie. No matter what they say, it will be 15%.
Data Donk….There’s a whole lot of red in FL.
http://www.zillow.com/fl/home-values/
do you have the down? or PMI?
Enough for traditional loan, but will need PMI. This is precisely why I want to rent for one more year.
FLAME SUIT ON
“Enough for traditional loan, but will need PMI.”
With two incomes you should easily have more than 20% down; double check the mattress again.
“FLAME SUIT ON”
BTW, I see she’s still not serving-up what you *really* want, or you wouldn’t be staring at the ceiling at 0300-hrs. Hehe.
4′ above sea level in a hurricane risk zone…hmmmmm…
That’s a good point. Part of this decision should involve researching the insurance costs. Does the state government still provide insurance to people who can’t get it from an insurance company?
Yes, I didn’t want to bring that up, but I assumed that Muggy knows a lot more about it than I do. I don’t know the advantages of a 4′ above sea level (which are… what?), but then, I wouldn’t like living even 25 feet up from the local drainage ditch.
Funny you mention that. At high tide the salt water backs into the storm drains. They have to be replaced every few years because of saltwater corrosion.
“4′ above sea level”
I did that in New Iberia. Maybe it was 6 ft. They said that if you were a few miles inland, the storm surge wouldn’t be “that bad”. There were a few “used to be” places between my house and Vermillion Bay, and some curious houses up on stilts.
“Does the state government still provide insurance to people who can’t get it from an insurance company?”
Yes
Flood 2300
Wind 2800
So long as FEMA stands ready to provide taxpayer-subsidized disaster relief, there is no need to be worried about owning a home where a storm surge could wash away your house.
Other than feeling a bit like a sucker if the price drops precipitously in the next year or two, it sounds like you have a very good set up and it’s something you can easily afford. If it is being offered to you below market I’d preserve my very good setup and buy it.
That being said, it is always bad to have to make decisions under pressure from a point of scarcity. Just make sure you’ve done due diligence. It also doesn’t sound like the type of decision that couldn’t be undone fairly easily a few years down the road if things went south.
I’d take reasonable dad over cheapskate. The relationships are far more valuable than any amount of money.
All the easy decisions end once you get out of your 20s.
TRUTH ^
Depends on the price.
There won’t be an relationships left to salvage when you commit financial suicide.
#1 Cause of marital strife- Money (not enough of it/overspending)
#1 Cause of divorce- Money (not enough of it/overspending)
Personally, I’ve always thought that “money is the #1 cause of divorce” line is a gross oversimplification at best, and a serious lack of understanding at worst.
Money is a language that people use to express what they value. When the values differ enough in a relationship, that is going to lead to struggles and pain. But the pain around money is due to the difference in their values, not the money itself.
And it’s the leading cause of domestic world war when there isn’t enough of it as a result of overspending.
Personally, I’ve always thought that “money is the #1 cause of divorce” line is a gross oversimplification at best, and a serious lack of understanding at worst.
Since most divorces are initiated by women and said women usually have a replacement guy ready to move into their house, I would agree with you.
“Since most divorces are initiated by women and said women usually have a replacement guy with more cash ready to move into their house, I would agree with you.”
Corrected for accuracy.
Prime, I don’t agree. This blog appears to be very lucky in that we can absorb a $600 car repair or a $1000 new water heater or school clothes for kids and so on. Households on the financial edge will argue over who ran up the utility bills by taking a long shower, or who bought Ragu spaghetti sauce instead of Great Value, or can Johnny afford a football helmet.
Constant, day-to-day arguing over nickels and dimes is a HUGE cause of stress and divorce.
And in my experience, it’s the man who finds the replacement woman, very quickly. They need a woman to boss around, and they’ll find one from a catalog if they have to.
‘a $1000 new water heater’
A thousand dollars for a water heater? They only cost about three-fiddy.
Go ahead and mock, Ben.
They need a woman to boss around, and they’ll find one from a catalog if they have to.
Is that the case in most of the marriages that you’re familiar with? The woman is the boss in most couples that I know.
He’s just correcting more Donk-O-Nomics.
‘Go ahead and mock’
I’m seriously. Because of the foreclosure rehab gigs I’ve bought a bunch of water heaters the past few years. Nobody drains them when they jingle mail and the banks decided to let them sit through a couple winters and they freeze up and pop like a beer can. There can be some variation with gas or electric heat, but after over-paying a few times I found plumbers would install them for around $450-550. Now if it’s in a trailer or manufactured shack, it can go way up, maybe $800-900 because of specifications. Did you buy a trailer?
Donk-O-Nomics
If the van shows up and it says Schlong Bros Plumbing on the side, tell them they have the wrong address and call around for more estimates.
^LMAO
And in my experience, it’s the man who finds the replacement woman, very quickly. They need a woman to boss around, and they’ll find one from a catalog if they have to.
Not likely, as he will be broker than an FB, since he has to pay CS, Alimony and his ex gets to keep the house. And nothing is less attractive than a Beta Bucks without Bucks.
If you buy a house, you should have the hand-eye coordination and basic tools to put in a water heater. If not, stay a renter, u will go broke on repairs.
And in my experience…
For a long time after I lost my spouse, I attracted women who needed to be saved. Or I was attracted to them. I called it the superhero complex. At some point you have to ask yourself why your experiences seem to run in a particular vein.
Eventually two of my first three questions were: Can you swim. Can you fish. I found a partner who does not need to be saved, and she found one who does not need to take advantage of her. Well, unless she wants me to….
“If you buy a house, you should have the hand-eye coordination and basic tools to put in a water heater.”
That’s pretty funny to me. $200 every 15 years isn’t much of a deciding factor in a half a million dollar decision.
How much did you pay for the pickup truck?
you should have the hand-eye coordination and basic tools to put in a water heater
I would leave fooling with gas lines to the pros. Maybe an electric water heater.
As a father of three who is renting and may be in the same boat as you in the future, I feel for you. It’s tough to uproot kids into different hoods and schools. I’d say to give the things you mentioned (low crime, good neighbors, great schools) a monetary value and see if you can live with it. Honestly I would overpay a bit more if I knew my wife and kids were safe and happy.
I agree, and I am a long term renter in Florida. phony scandals laid out a very good case why he owns his home in Florida rather than rent. I hope he re-posts it.
Well said, Sean.
Muggy, I feel your pain brother. I remember when you posted a pic of one of your newborns here many moons ago (was it the first, or the second??). And I just had the clock start running on when my new addition will be riding around some neighborhood—so my willingness to wait forever has a somewhat new perspective that I haven’t gotten my head around myself yet.
One possible approach: figure out what you think the house would reasonably drop to in the “next leg down”—and then subtract that from the offered price, and decide whether stability and added certainty for your family is worth more than $X dollars. Then think of those dollars in terms of how much of your true life-blood (the limited time we all have here to work with) it would take you to earn those dollars (after-tax, of course). That may shed light on whether it is an amount that you are willing to lose, or not.
Best of luck with the decision; it’s no fun to have to make a choice like that out of the blue, on a timeline. You have my sympathy.
Your approach suggests he just “guess” at the price(overpay massively) rather than zero in on the actual value of it.
If I lowered the price from $50k to $40k on my 10 year old Chevy pickup, would you buy it?
“Pain”? “Sympathy”? LOL.
How about using brains.
“Pain”? “Sympathy”? LOL.
You know who LOL’s at “Pain” and “Sympathy”? Sociopaths.
Welcome to my Ignore List.
It’s dollars and cents my friend. Nothing more, nothing less.
What’s all this huss and fuss? Just post the link to the rent versus buy calculator.
Here you go:
http://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html?_r=0
Unfortunately, this version is a bit dumbed-down from the one I used back in the day, but it still works.
“Welcome to my Ignore List.”
I never understood this sort of comment. I mean, do people really become so offended on the internet they have to resort to actually blocking a person’s comments? Whatever happened to just glossing over things of no interest?
I personally like to see the entire string no matter who I agree or disagree with.
PS.
It’s worth noting that the wheels are coming off the housing market in FL starting very recently.
Do you really believe it’s merely coincidental to your LL’s overture?
“Do you really believe it’s merely coincidental to your LL’s overture?”
Coincidental, bruh. They retired recently. I know this because my checks got mailed to The Villages instead of NY. FWIW, it was for sale when we moved in.
Prime, I figure it could lose 20k-30k in the next leg down. That being said, barrier island properties were always moving, even during BP oil spill.
I would NOT be considering this if we lived inland, I would simply move.
Regarding my co-workers bitcoin mining stuff. He bought the ASIC mining boards from eBay I believe, they were dead/failed. He replaces the 3.3v surface mount DC voltage regulators that went thermonuclear (Said the ASIC chips use hundreds of amps at 3.3vdc) so this way he gets the boards cheaper than market. He also has a 50 amp 220v outlet he put in his rented townhouse (”electric vehicle outlet”) to run a bigger mining setup. He said he has scripts that monitor the current bitcoin (and maybe LC/DC and others) values and if it gets below the cost of electricity the scripts will alert him and can shut it all down.
Internet funny money to me but what do I know?
Very resourceful of him! Thx for the info, Ethan.
I figure it could lose 20k-30k in the next leg down.
Personally, I’d overpay by that much, if I was fairly confident that was all that it would be.
But like I said above, money’s price is really about how much of your life you will burn earning it—so only you can make that judgement.
With resale housing prices 3x higher than long term trend, $20k is raindrops in the desert.
barrier island properties
Sounds like a house you could raise the kids in and retire in. A long-term situation like that is when buying makes sense.
“Sounds like a house you could raise the kids in and retire in. A long-term situation like that is when buying makes sense.”
Yes, our thoughts exactly. It’s a starter/ender home.
It will be tight when both of our kids are in HS, but after that it’s ideal.
Sounds like a good deal for a lot of reasons. Discount, wife’s family, fiends in place, schools, below fmv, no realtor, etc. plus you’ve had your rental term to get to know the property….geez, after listing all those factors, you should probably jump on it like a hobo on a ham sandwich. You can change the house but can’t change the neighborhood. That’s what I told my wife when we bought our place that wasn’t as updated as it could have been, but we really liked the area. Good luck.
Moving forward on all fronts
1. Video inspection of sewer line at 2pm
2. Mortgage app complete
3. Checking out rental 3/2 apt. in a few
What do the kids think about moving to an apartment complex? Is it in the same area as you are now?
I just got back, the place is very nice but they literally paved every inch of the property and there is no open/green space for the kids. Also, the rent is about the same at what mortgage would be. I can’t go backwards.
It’s the only rental in town?
Don’t forget to tack on losses to depreciation, taxes and insurance.
“It’s the only rental in town? ”
No, of course not. It’s one of the few places in Pinellas County that is virtually crime-free and neighborhood kids play like it’s Mayberry.
You have kids, yeah? Do you consider their well-being when making housing choices?
I made my “housing choice” long ago and it was very profitable and continues to be to this day.
Mayberry is a hollywood creation. Have you considered Walnut Grove?
Hi Muggy.
Of course going into long term debt on an overpriced house (at sea level) is a bad decision financially, but you already knew that.
Muggy,
Life has a few Big Decisions. Marriage, parenthood, doing an honest job, those are big decisions. A house is just an accessory.
Grandpa used to say as he was headed off to the track to play the horses “Don’t bring more money than you are willing to throw away”.
One of the things I do to avoid any nervous worry loops on decisions is to have an excellent exit plan. What if my boat sinks 40 miles from shore? Inflatable dinghy is always ready to go. Gas and moonshine aboard? Lights, whistle, life jackets? Check. What I mean is make a liquid cash fund to exit house/mortgage safely if/when the time comes. Then you can have no fear.
If you cannot find a house to rent in the same neighborhood that is cheaper than buying, and can afford any potential losses, buy it. You only live once.
That shouldn’t be too difficult to achieve. I still can’t identify a single location where buying is less costly.
Ex, has you account been taken over by a bot? Seriously. I’m not looking for a pat on the back or high five, but get real: life happens.
I am almost forty. I’ve been renting since 2000. I have an opportunity to raise my family in a nice area. I am not 100% thrilled about buying, but I know I am 100% not thrilled about finding another rental and repeating this process until my kids are all grown up.
Yes, call me Suzanne. IDGAF. Flame suit on.
Blue, there is no exit plan. This would be all-in Florida.
Toe tag house.
Again. I still can’t identify a single location where buying is less costly.
“almost 40″
OK kid. I got married a lot longer ago than that.
“all-in”
Maybe this approach makes one feel more secure. I don’t know. I always feel more secure having a life raft handy. Do whatever lets you enjoy life without anxiety.
If you do buy the house you have a few things going for you. Housing expense 25%. You like it. Close to the water.
Also visit when you come up here in July. I’ll either be on Seneca or up by Oswego.
How did the seweroscopy cam thing work out?
Roots at 10 ft.
My mom’s house in Buffalo had that problem. Big tree in the yard. We had to rout it out every few years, but that only cost a couple hundred bucks.
Flush some root-kill down the lines once or twice a year.
Muggy, the fact that you are thinking things through and with your wife is your lifeline. You have been in the area long enough to answer most of the nagging nuances except insurance costs, taxes and damages should a hurricane damages.
Having said that, you can’t wait all your life waiting for the absolute best decision. I spent a good portion of my working career working for the Coroner’s and people are dying at any and all ages. Life is taking chances, but only well thought out ones (odds in your favor) are your friend. Your decision is based on your and your family needs and not mania. Good luck. My wife and I bought under similar conditions and lived in the home for 19 years until I retired and all but one of the kids had left for college. Then my wife took an advanced position to Salinas where she retired from a six position salary. When we arrived in Salinas we rented for 8 years because it made sense. Then in 2012 it made sense to buy.
u r saving them 7% -6 on commission and 1 on marketing rent lost , time etc
off 10% off and see what happens. FL has major in flow from NE etc. Scott made some big spending and tax changes that should help their budget. I’m guessing FL will be in the top 5 for biz this year.
The seller of the house pays the 6%, not the buyer. And since Muggy is a first-time buyer, he’s not paying the 6% on selling an old house. So muggy isn’t spending or saving on a realtor.
Buyer pays all expenses Donk. That one has been discussed over and over.
After a closing or two, it is pretty obvious that the buyer is the only one bringing any money to the table.
Actually, when you buy a car, you get the tires for free because the manufacturer pays for the tires.
Ahah. The manufacturer pays for the car. You just buy it.
The 6% is built into the price of the house. Whether the buyer or seller pays it is irrelevant. Call it a “leech fee.”
if the rent / buy ratio is under 150 months I’d say why not.
rent ratio is key
it’s 200 months break even in my hood= too high
150 or less is a buy if the county is growing
oh, yeah don’t get married, have kids, or buy anything EVER
With rents half the monthly cost of buying, why?
I forgot that metric. How does it work again?
Actually it’s less than 50% now.
If you want more space at some point, is the layout of the house such that you could add on?
It sounds like you can afford it. And, no realtor commission. Living in a neighborly neighborhood is good for the whole family.
Laslty, I truly believe we are at the onset of another leg down.”
uh huh That’s what I thought in 2012 but bought anyway after getting a 60 days to quit notice from landlord.
How old is the house ? maintenance is a big expense.
Built in 1964
Concrete block, new roof in 2008, new water heater, AC, toilet, electrical, sewer to street all since we moved in in 2010, about 1/2 newer windows (jalousies in the back)
Can you afford it? Y/N
Is it a money pit (big and/or older house)? Y/N
What’s the worst that could happen? Storm/high tide floods it or destroys it. Insurance would rebuild? Y/N
Can the bottom drop out of the market? The government and central bank have demonstrated their allegiance to the housing market. If Trump gets in - he’s a real estate developer. But if it happens - the FIRE sector with the Fed are not going to stand idly by. But lets say it does happen - so what? If you can afford the payments, you won’t be in trouble, just very annoyed.
If you gotta get outta Dodge, you can sell, thus recouping some of your expenses.
If I had kids, I’d want the stability of a good school and good neighborhood for 15-20 years.
Now, having said all that, I’m a renter. I think the TCO (total cost of ownership) of houses is understated on purpose. Somehow my net worth has continued to climb over these many years of renting and “throwing away money”. Actual spendable net worth, the kind I can use without having to put my house up as collateral for a loan (”Liberate your equity!”). Everyone I know is astounded I haven’t purchased, but my net worth is higher than theirs (mostly). What I’ve concluded is that housing is a lifestyle choice, not a path to riches. I don’t spend time on maintenance so I can run a business on the side. I think the TCO of houses is higher than renting.
Net result: You’ve gotta balance these issues and do what you think is best. Good luck.
“Somehow my net worth has continued to climb over these many years of renting and “throwing away money”. Actual spendable net worth,”
And there it is my friends. A new truck? No problem. Write a check. 10 new trucks? No problem, write a bigger check. A house”?(notta chance) No problem. Write a check. 5 New houses? No problem. Write a check.
Mortgage slaves? They ain’t got two dimes to rub together.
Thanks.
“Everyone I know is astounded I haven’t purchased”
Me too. I am one of the few debt free people I know. People just assume I have student loans and credit card debt. Nope.
Good luck with your decision. We’ve owned twice and managed to buy low and sell high each time. Prices in California may currently be at the highest ever relative to income, but perhaps it’s not as bad in FL?
Do it, Muggy. You have my blessing.
Do what? Get another rental at half the cost of owning?
Houses are not investments, they depreciate and rot.
sometimes the land goes up
like when hitlery hires armies of gender adjustment bearcats in DC
It’s the labor! Nope.
It’s materals! Nope.
It’s the land! Nope.
It’s none of the above.
I don’t care what happens to the houses, only the mortgages. As long as the prices that back the mortgages don’t depreciate and rot then everything will be fine.
As long as these ignorant home buying pukes consider themselves as being the true homeowners I will have it made because these ignorant and deluded and completely dumbed-down pukes will do whatever it takes to ward off the effects of depreciation and rot and they will willingly and ignorantly and ultimately do this on my behalf, not theirs.
Houses are rotten investments.
You can say that again.
“falling housing prices”
FoxNewsHate provides the following narrative:
“A series of posts on social media have been offensive, Darshan-Leitner said, including a picture she posted after the Jan. 7, 2015, Charlie Hebdo shooting that showed an Islamic State terrorist with a Star of David tattoo pulling off a mask, exposing the face of Israeli Prime Minister Benjamin Netanyahu. In text accompanying the image, she called the murder of the French cartoonists part of a conspiracy to stop French support for Palestinians. Under the picture, she wrote “This ain’t even hard. They unleashed Mossad on France and it’s clear why.”
http://www.foxnews.com/us/2016/02/29/ohio-professor-keeps-job-despite-spewing-anti-semitic-hate-on-social-media.html
The base then rallied, it votes for the candidate that Sheldon Adelson purchased.
That Sheldon Adelson purchased.
That Sheldon Adelson purchased.
“This sucker could go down” — George W. Bush
Huffington Post provides the following narrative:
“Given the recent rhetoric spewing from the political pandemonium sometimes referred to as the United States Presidential Election, as well a spike in hate crimes and alarming attacks on our communities, it feels increasingly difficult and dangerous to be a Muslim in this country.
Intolerance is on the rise, and any shred of logic once remaining in so much ignorant discourse has dissolved. Frankly speaking, it’s impossible to diagnose “where exactly so much has gone so wrong,” but it’s beyond certain that we’ve hit a point past which Muslim simply cannot endure so much Islamophobia alone.”
How To Be A Muslim Ally: A-Z
http://www.huffingtonpost.com/zoha-qamar/an-a-z-guide-to-being-a-muslim-ally_b_9367284.html
None of which changes the fact that Aisha was 9 and muhammed the profit was 53 years old when they consummated the marriage, LOLZ.
Another Sky Wizard narrative:
“How long have you been talking about or thinking about that once-in-a-lifetime trip to Israel?
Are you one of those Christians who understands Israel’s centrality to the Bible but haven’t been there yet – or perhaps haven’t visited for a very long time?
Let me suggest to you that this is the year for you to go.
The annual WND Israel Tour boasts the very best Israeli tour company in the business. Coral Tours is headed by a retired full bird colonel in the Israel Defense Forces, a paratrooper who served in most of Israel’s wars and one of the IDF’s top logistics experts. Believe me, with the size of the groups we bring to Israel, that kind of expertise comes in handy. His name is Shalom Almog (That’s right – Shalom is his real name!) and you will come to love and respect him and his team when you come to Israel with us.”
http://www.wnd.com/2016/02/this-year-in-jerusalem-2/
American taxpayers, are you enjoying your $600,000,000,000+ a year foreign policy determined by an electorate that believes the Earth is 6,000 years old?
P.S. you’re not a Christian.
I’d love to visit Israel someday. Can think of few places more fascinating and rich with history and spiritual significance.
Israel should be depopulated and turned into a museum.
No more neocon wars for this racist, apartheid state.
Agree with no more neocon wars, but am not anti-Israel. Just think the Likud Party shouldn’t be allowed to dictate our foreign policy through its neocon agents of influence. Israelis have achieved some remarkable things, for instance in the science and technology fields, and medicine. And compared to the rest of the region, they are a beacon of progress and enlightenment. If the Arabs and Iranians were sane, they could benefit greatly by having pragmatic relations with Israel. I’m no neocon, but I wouldn’t throw them to the wolves, either, and think some level of US backing is essential to check regional powers like Iran that might be tempted to otherwise pick a fight.
Israelis have achieved some remarkable things
Which is why they should be offered sponsored immigration to USA and not another penny of American taxpayer dollars to the Middle East, ever.
It’s been a 70 year experiment that is a proven FAILURE.
It could be interesting to visit Israel. But I would never go under the current circumstances.
Within my lifetime, agnostics and atheists will be a plurality in USA.
American foreign policy will no longer be determined by a voter demographic primarily motivated by Rapture.
Yes, but if the last two elections are any indication, 95% of the electorate will still be stupid and easily duped/manipulated by the neocons and corporate statists. Fade that hope….
It’s not too late to have a Nuremberg war crimes trial for every person who signed their name on the 1996 policy paper from the Project For The New American Century.
“The people who cast the votes don’t decide an election, the people who count the votes do.” — Joseph Stalin
Sounds about right.
“If the opposition disarms, well and good. If it refuses to disarm, we shall disarm it ourselves.” — Joseph Stalin
Background checks would’ve prevented this….
http://www.theburningplatform.com/2016/03/03/background-checks-would-have-prevented-this/
“FOMO” - Fear of Missing Out - causes lemming-like Chinese “investors” to rush back into housing bubble.
http://www.bloomberg.com/news/articles/2016-03-02/china-s-real-estate-frenzy-is-back-as-shenzhen-prices-surge-50
The 35-year-old civil engineer dumped his equity holdings after losing 40 percent last year, using the proceeds to buy a 5 million yuan ($763,464) apartment in Shenzhen. [...] Liu, who took on a mortgage to buy the apartment, an investment property that he’s renting out. “
I so wish that the article had quoted what his rental income is for that property… I bet he is losing money every month, expecting to make it up on the speculative price gains.
I love google.
Civil engineer salary in Shenzhen: $63K. Buys a $763K f-ing floating box of air.
Nope, no credit bubble there. They are going to crash worse than California ever did.
https://www.glassdoor.com/Salary/WD-Partners-Shenzhen-Salaries-EI_IE146587.0,11_IL.12,20_IM1013_IP2.htm
Are the sheeple finally wising up to the swindles against them by the banksters and their Republicrat duopoly henchmen?
http://libertyblitzkrieg.com/2016/03/02/how-the-u-s-government-and-hsbc-have-teamed-up-to-hide-the-truth-from-a-pennsylvania-couple/
The junk bond bubble is blowing up.
http://www.bloomberg.com/news/articles/2016-03-01/global-junk-bond-default-rate-to-rise-to-09-level-moody-s-says
About time…
Don’t feed the bears.
Tried that. Didn’t work.
Remember….. Nothing is more bullish, accelerates the economy, creates jobs and raises the standard of living like falling prices to dramatically lower and more affordable levels. Nothing.
Ha! Don’t feed the bears by MOD
https://www.youtube.com/watch?v=lkTrzavGmIw
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” -James Madison
“… money changers have used every form of abuse, intrigue, deceit, and violent means possible …”
We use what works to get what we want.
What do you use to get what you want?
“It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning.” Henry Ford, founder of the Ford Motor Company.
IOW dumb ‘em down, and profit.
Mission accomplished.
Almost. There are still a few independent thinkers out there and this independent thinking just may spread out and end up infecting others.
It is one thing to dumb ‘em down, quite another thing to keep ‘em dumbed down.
The thinking 5% of pretty much an irreducible core, Mr. Banker. You can rest on your laurels when you consider that the 95% are deeply and profoundly stupid. That’s quite an accomplishment for the architects of our current IDIOCRACY.
‘Murica!
https://www.youtube.com/watch?v=CXSz0bA9CiE
“The thinking 5% of pretty much an irreducible core, Mr. Banker.”
This is why I am looking at ways to turn the 95% against the 5%.
The 95% have been sufficiently dumbed down to believe any idea that is presented to them if this idea is packaged up and presented to them correctly so now all that is left for me to do is to dream up and package up and sell the idea that whatever that has happened to them is by no means their fault but is the fault of somebody else, the fault of the 5%ers.
Some of the 5%ers, but not all of the 5%; Some of us 5%ers need to be kept distanced from the … the action.
The irony burns…
——–
To Flee Donald Trump’s America, You Will Need the Right Documents
Powerline ^ | March 2, 2016 | John Hinderaker
Posted on 3/3/2016, 2:27:43 AM by 2ndDivisionVet
The New York Daily News is a viciously left-wing newspaper that carries a special grudge against Donald Trump. It therefore offers its readers a complete guide to fleeing President Trump’s America.
So how does a Trump foe make the big move to more progressive pastures in 2016? And of all the Trump-free countries, which is best for a soon-to-be-expat?
The Daily News rates five top prospects for emigration, beginning with Singapore:
As a bonus, Singapore boasts the No. 1 most efficient health care system in the world, as rated by Bloomberg. The U.S. ranks at No. 44, and could dip even lower with Trump at the helm. The billionaire has long blasted Obamacare and scoffed at government-run health care — even though the system seems to be working out really well for Singapore.
That is, of course, the opposite of the truth, nothing unusual for the Daily News. Trump is an advocate of socialized medicine.
But here’s the point: having recommended five countries to move to, the Daily News gets serious for a moment:
Unfortunately, you can’t just pick up everything you own and move across the globe. You’re going to need the right documents.
What?! You do? To move to countries other than the U.S.?
Work visas through a job are likely the most secure option but they’re difficult to obtain. The long process starts with applying for a job in your wannabe home. In most countries, the employers must rule out locals who may be better-suited for the job before extending an offer to foreigners.
Really? Gosh, maybe that’s a policy we should consider!
Most nations require a foreigner to work for several years before attempting to apply for permanent residency or citizenship. … If you want to go one step further and become a citizen of another nation, get ready for a long road. That requires a lengthy legal process that starts with a temporary visa that turns into permanent resident status.
The irony, evidently, is lost on the Daily News.
Work visas through a job are likely the most secure option but they’re difficult to obtain. The long process starts with applying for a job in your wannabe home. In most countries, the employers must rule out locals who may be better-suited for the job before extending an offer to foreigners.
Really? Gosh, maybe that’s a policy we should consider!
Actually, we do that too; which is why so many choose to be illegal. H1-Bs have to work for years before they can get a Green Card. We hired an H1-B into our team a few years ago. My boss told me he’ll never do it again, it was legal pain in the neck.
And the author makes a good point: most Americans are utterly clueless about what is required to move to another country. They think they can just show up. A visa? Isn’t that a credit card?
Only in America that a presidential candidate that calls for:
Controlling borders
Deporting illegals
Keeping jobs inside their country
would be called a racist or a hitler.
Every other country in the world does EXACTLY this.
People who call him a racist are not doing so because he’s calling for those three things.
It’s like saying only in America do we call people racists if they have weird hair.
Every other country in the world does EXACTLY this.
Not in the EU they don’t.
The Daily News is a right wing newspaper run by a fellow $billionaire (or actual $billionaire). Fears Trump will run the country into the ground.
The successful big money guys around NY are flabbergasted. Him?
It will get much harder to leave once that wall is built.
And we’ll have an experienced and underemployed army of body-snatchers after we get done deporting 11 million people. Probably a good system of camps to hold people in…
It will get much harder to leave once that wall is built.
I haven’t heard of any call for a wall on the Canadian border.
The panicked GOP establishment is deploying its pit puppy.
http://www.businessinsider.com/mitt-romney-donald-trump-speech-exerpts-2016-3
Who are the bagholders who are buying into the Fed’s Ponzi markets while Da Boyz are exiting the pump & dump?
http://investmentresearchdynamics.com/insanity-engulfs-the-stock-market/
Something wicked this way comes…
———-
Forget Trump… what’s the U.S. done to deserve Hillary
The Daily Mail | 2/3/16 | RICHARD LITTLEJOHN
After Super Tuesday, the nightmare scenario has moved a step closer to reality. America is on the brink of electing a polarising president with a long history of dishonesty, scandals and shady finances.
No, not Donald Trump. While the Republican front-runner was once again dominating the media coverage of the primaries, Hillary Clinton effectively sewed up the Democratic nomination.
Nobody of substance was prepared to stand against her. They were all terrified of the wrath of the Clinton attack machine, which has left a trail of bodies in its wake over three decades.
Nevertheless, her preordained progression towards the White House masks a distinct lack of enthusiasm on the part of the electorate.
Not that the Clintons are short of a shilling. When Bill left office in 2001, Hillary complained that they were flat broke. Yet 15 years later, they are reported to be worth in the region of $110 million (about £80 million).
Wealth and power are what the Clintons live and breathe. Through their charitable foundation, which allows them to lord it like potentates, they have taken tens of millions of dollars from dubious foreign donors. Meanwhile, only 10 per cent of the foundation’s income has actually gone to charity.
This is a woman who, while railing against the bankers, has made a fortune from financial institutions. She was paid $675,000 by Goldman Sachs for three speeches.
When asked why she accepted so much money, she replied: ‘That’s what they offered.’
Bill has been involved in a series of ‘bimbo eruptions’, most notably the Monica Lewinsky affair, which led to impeachment proceedings being brought against him. He came dangerously close to being kicked out of office for lying.
Throughout, Hillary stood by her man. One of Bill’s many conquests, Gennifer Flowers — who was his mistress for 12 years — recently came out of the woodwork to condemn Hillary for condoning his behaviour and hinted that there was more dirt to come.
Women who cross the Clintons have to endure a torrent of ordure poured from a great height. Lewinsky’s life was blighted for ever.
Now Mrs Clinton is being investigated by the FBI for illegally using her own private email server to send and receive classified correspondence in connection with her position as Secretary of State, the American equivalent of Foreign Secretary, and deleting 30,000 messages she described as ‘personal’.
U.S. government officials have been sacked and prosecuted for less.
Mrs Clinton makes great play of her ‘experience’, but her record in office is dismal.
She was Secretary of State for four years until 2013. On her watch, the world became a more dangerous place.
Having once said she’d nuke Iran to protect Israel, she then supported the deal to bring the mad mullahs back into the fold, by lifting sanctions and allowing them to develop a ‘peaceful’ nuclear programme.
She lied about coming under sniper fire while on a visit to Bosnia.
Worst of all, she refused a request to send military reinforcements to protect the American embassy in Benghazi, Libya.
No wonder between 50 and 65 per cent of voters regularly say she is ‘dishonest and untrustworthy’. Her negatives are almost as high as Donald Trump.
a trail of bodies
On foreign policy, the only difference between Hillary and The Donald is that Hillary is a proven war criminal, whereas The Donald has only made campaign promises to be a war criminal.
I think The Donald would also be astute enough to count the cost before he embarks on any open-ended military adventurism fraught with unintended consequences. Hillary, on the other hand, has a proven track record of craven subservience to the neocon agenda no matter what the cost to America and Americans.
whereas The Donald has only made campaign promises to be a war criminal.
Since when do politicians keep their campaign promises?
‘Donald Trump calls the Iraq war a lie-fueled fiasco, admires Vladimir Putin and says he would be a “neutral” arbiter between Israel and the Palestinians. When it comes to America’s global role he asks, “Why are we always at the forefront of everything?”
‘Even more than his economic positions, Trump’s foreign policy views challenge GOP orthodoxy in fundamental ways. But while parts of the party establishment are resigning themselves or even backing Trump’s runaway train, one group is bitterly digging in against him: the hawkish foreign policy elites known as neoconservatives.’
‘So deep is their revulsion that several even say they could vote for Hillary Clinton over Trump in November. “Hillary is the lesser evil, by a large margin,” said Eliot Cohen, a former top State Department official under George W. Bush.’
Well well, this situation is instructive on more levels than one. Was the Iraq war a lie fueled fiasco? I don’t think history has much doubt on that one. And look at who the neocons are rushing to for salvation! Why it’s Clinton! I think we can all see how the cookie crumbles.
‘foreign policy elites’
Elites. I keep seeing this word. Like establishment. Who decided that some people are this establishment we keep hearing about?
‘foreign policy views challenge GOP orthodoxy’
or·tho·dox·y
ˈôrTHəˌdäksē/
noun
noun: orthodoxy; plural noun: orthodoxies
1. authorized or generally accepted theory, doctrine, or practice.
Authorized. So who does the authorizing?
Ben Jones from 9/11/2001 to spring of 2003 is what I consider the worst time in my adult lifetime in America. As far as propaganda and crowd psychology is concerned, what the neocons did with this was an absolute masterpiece.
Yep.
———–
“This country’s made a lot of mistakes and the war in Iraq was one of them. We got into a war, we have destabilised the entire Middle East.”
– Donald Trump
—————–
“In the four years since the inspectors left, intelligence reports show that Saddam Hussein has worked to rebuild his chemical and biological weapons stock, his missile delivery capability, and his nuclear program. He has also given aid, comfort, and sanctuary to terrorists, including Al Qaeda members, though there is apparently no evidence of his involvement in the terrible events of September 11, 2001. It is clear, however, that if left unchecked, Saddam Hussein will continue to increase his capacity to wage biological and chemical warfare, and will keep trying to develop nuclear weapons. Should he succeed in that endeavor, he could alter the political and security landscape of the Middle East, which as we know all too well affects American security.” — Hillary Clinton, October 10, 2002
The Iraq Resolution or the Iraq War Resolution (formally the Authorization for Use of Military Force Against Iraq Resolution of 2002, enacted October 16, 2002.
Those voting for the resolution were:
- Clinton, Hillary (D-NY)
https://en.wikipedia.org/wiki/Iraq_Resolution
Authorized. So who does the authorizing?
Presumably the GOP leadership would define the “GOP Orthodoxy”. That of course means that if the leadership were to change, so would the definition of what is orthodox belief. Unlike the church, the GOP lacks a holy writ, so the GOP’s orthodoxy is easier to change.
‘A Clean Break: A New Strategy for Securing the Realm (commonly known as the “Clean Break” report) is a policy document that was prepared in 1996 by a study group led by Richard Perle for Benjamin Netanyahu, the then Prime Minister of Israel.[1] The report explained a new approach to solving Israel’s security problems in the Middle East with an emphasis on “Western values.” It has since been criticized for advocating an aggressive new policy including the removal of Saddam Hussein from power in Iraq and the containment of Syria by engaging in proxy warfare and highlighting its possession of “weapons of mass destruction”.
‘Rather than pursuing a “comprehensive peace” with the entire Arab world, Israel should work jointly with Jordan and Turkey to “contain, destabilize, and roll-back” those entities that are threats to all three.’
‘In 2006, Sidney Blumenthal noted the paper’s relevance to potential Israeli bombing of Syria and Iran, writing that “In order to try to understand the neoconservative road map, senior national security professionals have begun circulating among themselves” the Clean Break “neocon manifesto.”[12] Soon after “Taki” of The American Conservative wrote that: ” recently, Netanyahu suggested that President Bush had assured him Iran will be prevented from going nuclear. I take him at his word. Netanyahu seems to be the main mover in America’s official adoption of the 1996 white paper A Clean Break, authored by him and American fellow neocons, which aimed to aggressively remake the strategic environments of Iraq, Palestine, Lebanon, Syria, and Iran. As they say in boxing circles, three down, two to go.”
And who pushed so hard to destabilize Libya and Syria? Why that was Clinton. And Fred Kagan, a huuuge neocon in those circles says he’s voting for Clinton. Why not, she hired his wife who went on to support a coup in Ukraine. And picking a fight with Russia is another prime policy of the neocons.
If Trump succeeds, the neocons have been thrown out of the Republican party. But that’s OK with them because they went bi-partisan years ago and already have dug in with the Democrats. So the Democrats are the sole party of the neocons. What say you liberals and progressives? Is this how you roll?
‘So deep is their revulsion that several even say they could vote for Hillary Clinton over Trump in November. “Hillary is the lesser evil, by a large margin,” said Eliot Cohen, a former top State Department official under George W. Bush.’
And what if Sander’s supporters refuse to vote for NeoCon Hillary?
‘the GOP leadership would define the “GOP Orthodoxy”
Where does it say that? I was under the impression that the party has a hierarchy, with goals and rules made in committees and sub-committees populated by the rank and file. What you are describing is little more than a politburo.
A politburo /ˈpɒlɪtˌbjʊəroʊ/ is the executive committee for a number of (usually communist) political parties.
You know, here we’ve been for decades pretending to have a democratic system of selecting representatives. And Trump comes along and lo and behold that’s not the case at all. Also very instructive. I’m tempted to think we should take a sledgehammer to the whole apparatus in both parties. What do we have to lose, the self-styled elites? Let them eat cake.
^ THIS.
Trump is the GOP’s sledge hammer, Bernie could be the Dem’s.
Where does it say that? I was under the impression that the party has a hierarchy, with goals and rules made in committees and sub-committees populated by the rank and file.
I’m not talking about “rules”. I’m talking about “right thinking” (orthodoxy)
Ben Jones: 1. authorized or generally accepted theory, doctrine, or practice.
Authorized. So who does the authorizing?
“Top men.
Top… Men.”
On foreign policy, the only difference between Hillary and The Donald is that Hillary is a proven war criminal, whereas The Donald has only made campaign promises to be a war criminal.
Noam Chomsky says that every post-war president has committed war crimes. That would be every president from Truman through Obama.
Germans can thank the globalists and the imbeciles who voted for Merkel for their “fundamental transformation.”
http://news.yahoo.com/germany-probing-islamic-state-policemans-stabbing-magazine-112959361.html
I like:
Oil companies-200,000 list jobs
Bankers 300,000 have lost jobs
Agents- the dim need then to sell their homes,cars etc
Wall st
Hate bureaucrats
They are hiring more including the local ones that will make yr rent zoom up. U might want apply some pressure there.
Housing bubble deja voux. Will the sheeple meekly bend over yet again for another Wall Street bailout by its captured politicians?
http://www.marketwatch.com/story/home-flipping-up-as-profits-hit-a-10-year-high-realtytrac-says-2016-03-03?dist=beforebell
Our “Democrat elections” are a charade. The Establishment candidates will always win when the votes are counted.
http://www.breitbart.com/big-government/2016/03/02/exclusive-audio-rubio-campaign-manager-plots-brokered-convention-in-manhattan-donor-meeting-to-take-nomination-from-trump/
Gun control works!
Just not for law abiding citizens.
‘To complicate matters, the hubs of Chicago’s crime, the city’s west and south sides, potentially have become even more dangerous as the so-called “Ferguson Effect” is impacting how police patrol the streets. Analysts say officers are engaging less out of a fear of lawsuits or being labeled racist. Even Chicago Mayor Rahm Emanuel said in October 2015 that officers have become “fetal.”‘
—————–
Chicago on track for deadliest year in nearly 2 decades
FoxNews.com | March 02, 2016 | Matt Finn
The city of Chicago is witnessing its deadliest start to a year in nearly two decades — 102 people have been killed and 475 people were shot in the city since January 1st.
“The level of violence is unacceptable and CPD continues to aggressively target those responsible, especially in neighborhoods where gang activity is most active,” CPD spokesperson Anthony Guglielmi wrote in an email.
Police blame some of the surge in violence on gang conflicts and retaliatory crimes, many of which officers now say begin on social media before spilling out onto the streets.
The unfortunate side effect of badgelicker narratives like this is that it rallies the base into complicity with events like the Southern California manhunt for rogue cop Chris Dorner in which several innocent bystanders got shot at by cops.
Statists gonna state.
I don’t think the 102 murder victims (and their families) in Chicago in the first two months of this year would agree with you.
Why don’t these black lives matter?????
I don’t know why you would think that they don’t matter. I certainly think that they do. Also, Chicago has a lot of non-black residents. Some of those 102 victims are probably non-black and their lives also matter.
dude black history month is over, the race card expires in 9 months !
Here are the stats for ChiTown violence. Demographics of both victims and perps are listed along with the types of weapons used.
http://heyjackass.com
Then you get the gender card.
‘Murica: a banksters’ paradise.
http://www.businessinsider.com/jamie-dimon-cnbc-interview-2016-3
“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” – Napoleon Bonaparte, Emperor of France, 1815
Jon Corzine, the largest of the obama “bundlers”, AGREES.
If Hillary avoids prison for her crimes, it will be the final proof that the .1% is literally above the law.
Free Jon Corzine!
http://www.nytimes.com/2016/03/03/us/politics/as-presidential-campaign-unfolds-so-do-inquiries-into-hillary-clintons-emails.html?_r=0
How tyrants and dictators ignore the plain meaning of laws.
—————————–
“All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside. No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.”
–14th Amendment of the US Constitution
How Bush gave rise to Trump.
http://www.rollingstone.com/politics/news/revenge-of-the-simple-how-george-w-bush-gave-rise-to-trump-20160301
What to do when your Ponzi markets and asset bubbles start looking shaky?Why, moar printing-press stimulus, of course. Keynesians are remarkable consistent when it comes to pursuing utterly failed and discredited policies that only benefit the already super-rich.
http://www.bloomberg.com/news/articles/2016-03-03/ecb-brainstorms-as-draghi-seeks-stimulus-that-won-t-hurt-banks
It is amazing that in the history of the world.
No other country or empire has thought to do this!
We are the smartest generation.
Oh wait…
Trump’s ideas on healthcare sound a lot more sane than the insurance company enrichment scheme known as ObamaCare.
http://market-ticker.org/akcs-www?post=231180
The sheeple of Canada are going to bitterly regret letting their statist overlords sell off all their gold reserves once the SHTF.
http://www.zerohedge.com/news/2016-03-03/its-official-moment-canada-has-no-gold-reserves-left
Hoo boy! Maybe Canadians are buying Ether coin instead?
buying their way to heaven
Looney= 74 cents vs dollar
“Our global, credit based economic system appears to be in the process of devolving from a production oriented model to one which recycles finance for the benefit of financiers. Making money on money seems to be the system’s flickering objective. Our global financed-based economy is becoming increasingly dormant, not because people don’t want to work or technology isn’t producing better things, but because finance itself is burning out like our future Sun.”
http://www.zerohedge.com/news/2016-03-03/bill-gross-previews-financial-apocalypse-classical-economic-model-has-reached-dead-e
Making money on bank credit created out of thin air seems to be the objective?
“Making money on bank credit created out of thin air seems to be the objective?”
Convince the totally dumbed down multitudes of pukes that price a rise generates equity and equity is a form of wealth and - presto! - you are there.
Bahahahaha … in a normal market rising prices would run buyers off but in a speculative market rising prices is what draws buyers in.
FWIW.
^
Truth. Car prices on the rise and peeple are flocking to the showrooms!
Gold is telegraphing a no-confidence vote in the Keynesian fraudsters and “former” Goldmanites running our central banking rackets.
http://www.kitco.com/market/
And broadcasting a no confidence vote in either the fuhrer Trump or Hitlery.
Which gender version of Hitler would you prefer?
Buying a house is a Financial Funeral
It’s more of a death sentence, with the funeral to soon follow.
Except that you don’t get to die. It’s more like drowning in quicksand for 30 years while trying to dig yourself out with a broken shovel.
Have you ever pondered the first three letters of the word funeral?
most people cant even afford there own burial, sad.
Comment by Blue Skye
2016-03-02 23:53:13
[...]
My business is 6 months ahead of the main business cycle. It is rolling over. I am destined to be a boat bum.
Out of curiosity, Blue: why does your business tend to lead the business cycle?
Re: your impending boat-bumming: I’m jealous.
Big high end technology manufacturing process equipment and predominantly new facilities. The high end stops being built first and starts first in expansion mode, like being at the end of the whip at the skating rink. Quotes go out 12 to 24 months before project start and orders must be in 6 to 12 months before installation. Another year to startup. My specialty is way up in the tippy top of technique (sometimes feels like way down a dark alley) as far as my company goes. It gives an interesting perspective on shifting global manufacturing growth. I know about six months before my colleagues when there is a shift.
This is why I said China was done expanding manufacturing a long time ago. Now years later it is in the news. Also why I said the Solar boom was over. Also the petrochemicals build out in Saudi Arabia. High purity steel & etc.
Speaking of tech toys, a new magnetic fence for my bandsaw just arrived. Turn a knob and 300 lb of force lock the thing in place. Slick. I’m off to mine a big old black walnut log. This is important fun!
Fascinating; thanks for the insight, Blue!
Big high end technology manufacturing process equipment and predominantly new facilities.”
Huh I wonder what cloud computing is doing ? They want bandwidth which means new hardware.
The Hillary Clinton song
http://www.youtube.com/watch?v=R20f-TPKjzc - 236k -
Remember….. a ‘housing recovery’ is falling prices to dramatically lower and more affordable levels by definition.
why is romney being a douchbag to trump?
Data Az_donk…. stick with the data.
Miami Beach, FL Housing Prices Crater 9% YoY
http://www.zillow.com/miami-beach-fl/home-values/
Romney wants to run as the party nominee in the brokered convention?
Is that it, or is he merely hoping to have a Republican candidate run whose stump speeches aren’t so heavily laced with filthy sexual references that Mitt has to turn off the TV if any of his grand kids are present?
I frankly don’t know how mainstream Republicans can stand the thought of Trump as president.
Wow - there is a difference.
With Clinton you will an expanded obamacare
———–
Trump releases seven-point health care reform plan . . . and it’s excellent
Canada Free Press | 03/03/16 | Dan Calabrese
Completely repeal Obamacare. Our elected representatives must eliminate the individual mandate. No person should be required to buy insurance unless he or she wants to.
Modify existing law that inhibits the sale of health insurance across state lines. As long as the plan purchased complies with state requirements, any vendor ought to be able to offer insurance in any state. By allowing full competition in this market, insurance costs will go down and consumer satisfaction will go up.
Allow individuals to fully deduct health insurance premium payments from their tax returns under the current tax system. Businesses are allowed to take these deductions so why wouldn’t Congress allow individuals the same exemptions? As we allow the free market to provide insurance coverage opportunities to companies and individuals, we must also make sure that no one slips through the cracks simply because they cannot afford insurance. We must review basic options for Medicaid and work with states to ensure that those who want healthcare coverage can have it.
Allow individuals to use Health Savings Accounts (HSAs). Contributions into HSAs should be tax-free and should be allowed to accumulate. These accounts would become part of the estate of the individual and could be passed on to heirs without fear of any death penalty. These plans should be particularly attractive to young people who are healthy and can afford high-deductible insurance plans. These funds can be used by any member of a family without penalty. The flexibility and security provided by HSAs will be of great benefit to all who participate.
Require price transparency from all healthcare providers, especially doctors and healthcare organizations like clinics and hospitals. Individuals should be able to shop to find the best prices for procedures, exams or any other medical-related procedure.
Remove barriers to entry into free markets for drug providers that offer safe, reliable and cheaper products. Congress will need the courage to step away from the special interests and do what is right for America. Though the pharmaceutical industry is in the private sector, drug companies provide a public service. Allowing consumers access to imported, safe and dependable drugs from overseas will bring more options to consumers.
The best thing about the plan - aside from the obvious feature of getting rid of ObamaCare - is the emphasis on expanded Health Savings Accounts, along with the shift in tax deductibility to individuals who spend money on health insurance as opposed to employers. The use of the tax code to tie health insurance to employment was one of the worst policy decisions of the 20th Century, tied to wage controls during World War II, and it’s well past time to correct it.
Another excellent feature is price transparency. Today, if you walk into a doctor’s office and try to self-pay, they look at you like you’re from another planet, and half the time they don’t even know what things cost because everyone just figures insurance covers it, so who cares? If people don’t understand how that drives up the cost of health care, they really need a crash course in basic economics.
I almost never watch Alex Jones, mainly because he just talks way too much and it’s like reading zero hedge. As fascinating as some of the information might be, it tends to be all bad news and chaos with no real solutions.
However, last night I sat through a couple of hours of interviews with Roger Stone, Trump’s Walsingham. I recommend it to people who care about such things, if you can endure Jones’ constant interruptions. The information coming from Stone was fascinating Of course, Stone is selling a couple of books, one on the Clintons and one on the Bushes.
I have every reason to hate Roger Stone, considering he was the Bush point man in Florida during the time of the hanging chads. I posted about it here shortly after Trump announced. Jones asked him why the change of heart. He answered without hesitation that it was the Iraq War. Assisting the Bushes is apparently his greatest regret. I am glad to see he’s had a change of heart.
He covers so much ground and it’s one bombshell after another with respect to both the Clintons and the Bushes, who are heavily linked to each other. Everything he said about the attempted Trump take downs have come to pass. Most interesting were his comments about Ron Paul and what happened at the 2012 convention. I remember when Ben posted about it here. It’s going to be attempted again, which is why you see Romney raising his despicable puss.
Stone is currently registered with the Libertarian party, which I thought was interesting.
See also:
http://www.abqjournal.com/733466/politics/former-gov-gary-johnson-takes-profane-aim-at-trump.html
Lol, Johnson got my vote in 2012.
“about Ron Paul and what happened at the 2012 convention”
This time they’d be going against a pissed off majority. They might not like what happens.
What do you think would happen, Blue?
Stone has a plan to circumvent the convention take down, if need be. Hopefully it doesn’t come to that.
He’s an interesting character, been around since the Goldwater days. The guy doesn’t sugarcoat anything.
They might not like what happens.
Wow, Romney is unloading on Trump right now.
Yup, exactly as predicted. The “brokered convention” candidate.
Romney was calling for a brokered convention: “If you’re in Florida, vote for Rubio, if you’re in Ohio, vote for Kasich…Trump is a phony and a fraud.”
The gloves are off.
The GOP is between a rock and a hard place.
If they allow Trump to get the nom, it’s still an uphill battle against Clinton. If they don’t allow Trump get the nom, then Trump himself has the money and support to give the election to Clinton. And given that Trump had given money to Clinton in the past, he likely wouldn’t object to her winning if it means taking down the R’s who “aren’t treating him right.”
Trump can collect enough signatures to get on the ballot in all the states and spoil the election just as Perot did. If he wants to be really dirty, he only needs to collect signatures run in a few high-stake swing states: Florida, Ohio, North Carolina, Virginia, maybe Wisconsin… He would pull enough voters from the brokered candidate to give those states to Clinton.
And if Trump supporters don’t want to play spoiler to give the election to Clinton (assuming they even know that this is what they ultimately would be doing when they vote for Trump) then they will stay home. Then the Dems will win the Presidency AND the Senate too, with huge gains in the House.
What I find surprising is that the GOP is showing their (weak) hand this early! Trump himself may not be familiar with the finer points of conventions and signatures, but his advisers surely are. They now have PLENTY of time to generate a plan and initiate it.
It didn’t cross my mind until someone on HBB said it, but I agree… … Trump needs to spend some of his millions on security.
security…
The problem the establishment has isn’t Trump. It’s millions of people who are tired of the corrupt establishment.
The irony is both the Republican party and Trump agreed to support the winner of the primaries no what who it was.
The Republicans never thought Trump would win it…
If there’s a brokered convention, Trump will break that agreement, and I can’t say I’d blame him. A candidate with a mere plurality of delegates is a lot more of a win than an party-anointed candidate with no delegates at all.
And this isn’t 1880. Does the GOP seriously think they can get away with putting Romney or Paul Ryan on the ballot, just like that, in full view of a hundred million smartphones?
“Trump needs to spend some of his millions on security.”
Stone mentioned at least twice in one of the Alex Jones interviews (I think it was Feb 26) that Trump has tripled his security detail. He and Jones both questioned the loyalty of the Secret Service detail.
BTW, according to something I read, and I wish I could remember where, he’s been wearing a bullet-proof vest since the El Chapo threat.
oxide: If they allow Trump to get the nom, it’s still an uphill battle against Clinton.
The unlikeliest candidate for president is now finishing out his second term.
If someone had said an unknown half-Muslim liberal black guy with a foreign name would defeat Hillary in the primaries in 2007, they would have been thought addled.
If someone then said liberal half-Muslim black guy with a foreign name would then defeat a older white male war hero elder statesman of the Republican party, they would have been laughed out of the room.
But here we are.
this isn’t 1880. Does the GOP seriously think they can get away with putting Romney or Paul Ryan on the ballot, just like that, in full view of a hundred million smartphones?
It’s pretty much their party and convention to do with as they please, right? The parties aren’t in the Constitution, their rules are their own, not law.
HIllaryous is unelectable.
Reston, VA Housing Market Caves; Prices Plummet 8% YoY
http://www.zillow.com/reston-va/home-values/
What happened to the poster that continuously pumped Brazil as being the Shangri-La of the civilized world?
He missed his chance to get a banana.
To be fair, he admitted that Brazil had problems even before the crash, but I think he also underplayed Brazil’s dependence on commodity prices.
He got busted using a proxy server.
I did watch him that one day on his bike.
You can see the same guy passing the camera…. every single day.
Brazil has more natural resources and clean water then most countries. It will be bought by the Chinese
u guys need to keep your cash in the banks so more loans can be made!
The electronic printing press can provide all necessary loanable funds.
Will the GOP be able to stop Frankentrump before he destroys their party?
http://bigstory.ap.org/article/77ce555a2e544356bd9e06940c4bbc91/hillary-clinton-and-donald-trump-cemented-2016-leaders
Destruction of corruption is a good thing.
Mitt Romney: “Trump is a fraud.”
And you can believe Mitt Romney.
Maybe it wasn’t a very bright move for The Donald to label Mormonism as an “alien religon”, given that Utah is a Republican stronghold?
It’s hard to imagine that Utah would vote for Hillary in November.
It’s hard to imagine that Utah would vote for Hillary in November.
Exactly. Trump is pandering to Protestant Evangs and Fundies, many of them consider the LDS to be non-christians.
It’s true that Utahns would probably still vote for Trump over Hillary even if he mooned the camera at the next Republican debate.
I remember you liked Romney and what he stood for and supported him and voted for him. That’s why you’re bringing him up now. Oh, wait. Sorry, that wasn’t you. You voted for Obama. Interesting why you’d use him for a reference. I like to use you as my reference. It’s way of trying to get you to see through the planks in your eyes, although I realize psychologically that’s impossible. Here’s a good one for you:
Why don’t you follow your own advice and go create your
ObamaTrump haters blog?There’s tons of establishment GOP blogs, just go sign in there.
Here’s a good one where you can fight with Trump supporters:
Theconservativetreehouse.
I would like to thank Porf for his wonderful contributions on housing earlier up in the thread.
Posting factual information about Trump that indicates he would be a poor choice for president doesn’t mean I hate him. You seem confused, as usual.
Gonzalez: Now is the time for Latino millennials to vote, get real about a Basta Trump campaign
With hate-spewing Donald Trump closer than ever to the Republican nomination for President, it’s time to get real about a Basta Trump campaign.
Leaders among the more than 50 million U.S. Latinos recently announced an unprecedented voter registration drive geared toward the November election. The giant Univision Spanish-language network unveiled plans to use all of its radio and television stations to register 3 million new voters.
As Jorge Ramos, the popular Univision anchor who was roughly ejected from a Trump press conference in August, said: “The Republican Party has had an incredible opportunity to reach Latino voters, and they failed. You cannot say, ‘Vote for me, but I want to deport your mother or your brother.’”
But television advertising won’t be enough for the Basta Trump campaign. Basta means “enough already” in Spanish.
For such a campaign to succeed, thousands of Latino college and high school students will need to volunteer to register millennial Latinos in something akin to the “Freedom Summer” voter registration drives of the civil rights movement
http://www.nydailynews.com/news/politics/gonzalez-time-latino-millennials-vote-article-1.2549630
‘The mayor of a Texas border city whose population is 96 percent Hispanic and home to the country’s largest inland port said on Wednesday that he hasn’t ruled out the possibility of voting for Donald Trump. The remarks from Laredo Mayor Pete Saenz came a day after the Republican billionaire doubled down on his promise to build a wall on the southern border and make Mexico pay for it.’
‘Laredo is the county seat for Webb County, one of six counties in Texas that Trump won on Super Tuesday, though he lost the statewide contest to his rival and U.S. Sen. Ted Cruz, R-Texas. Trump also won the border counties Terrell, Hudspeth and Zapata, as well as Aransas and Sabine.’
‘Varney asked Saenz if Trump’s victory in the region, where he earned 1,427 votes, or about 35 percent of the 4,089 ballots called, indicated that some Hispanics weren’t opposed to Trump or even to a border wall. Saenz, who identifies as an independent with conservative leanings, said the results indicated Trump “obviously has a following” in the region.’
As was demonstrated in past Arizona referendums, Hispanics don’t like illegal (note the word illegal) immigration any more than most people. They don’t like lower wages or human trafficking.
Mike you probably don’t know this, but most countries south of the border have a class system that’s based on race. You’ve got the Spanish descendants and the Indio’s who have been subjugated ever since the Spanish showed up. So when Vicente Fox, with his oddly European looks, gets on TV and is flabbergasted that Hispanics in Nevada voted for Trump, you have to note the irony. Mr Fox, just why are rivers of Mexicans willing to leave their home for work? Why aren’t the resources of Mexico and a modern business environment and political system (which you are a part of) able to produce jobs and security? How come you haven’t fixed that bloody mess? Isn’t that what you were elected to do?
I’ve read about that a bit. There have been some interesting developments in Latin America in the past decade or so. If you look at photographs of Hugo Chavez or Evo Morales, the president of Bolivia, they appear to be of Indian or mixed ancestry. Lula da Silva, the former president of Brazil, may appear to be of southern European ancestry, but he came from a quite poor background. In addition to that, South American countries are cooperating more with each other economically, trying to shake off US domination. The fall in the price of oil and other commodity prices has slowed down that process a lot.
Regarding Hispanic American voters, the standard MSM story has been that the Republicans would need to get a larger share of the Hispanic vote this year than Mitt Romney got in 2012 to win the White House. It’s possible that Trump is such a revolutionary force that that won’t be the case. It’s also possible that many Hispanics like his idea of building a wall. On the other hand, if they feel that he’s a bigot who just doesn’t like them and thinks of them as second class citizens, many will vote against Trump regardless of his positions in the issues. We’ll know how it plays out eight months from now.
So when Vicente Fox, with his oddly European looks
Most Mexican president are “European”. Here is the current prez:
http://a.abcnews.com/images/ABC_Univision/ap_Enrique_pena_nieto_121201_mn.jpg
Looks kinda like…Mitt Romney.
‘There is no way Mexico would fund Donald Trump’s “terrible” plan to build a wall along its border with the United States if the Republican front-runner wins the U.S. presidential election, the Mexican finance minister said.’
‘In a televised interview late on Wednesday, Finance Minister Luis Videgaray categorically rejected the proposal. “Under no circumstance will Mexico pay for the wall that Mr. Trump is proposing,” he said. “Building a wall between Mexico and the United States is a terrible idea. It is an idea based on ignorance and has no foundation in the reality of North American integration.”
Oh, so the globalist angle. Now about this NAFTA Luis, that’s another bone that needs picking because it’s not such a great deal for us. Here’s a photo of this European looking guy:
http://e-veracruz.mx/sites/default/files/luis_videgaray_2.jpg
What did they say in 2006 when Bush passed the secure fence act ?
Oh, so the globalist angle. Now about this NAFTA Luis, that’s another bone that needs picking because it’s not such a great deal for us.
There is a mindset among Mexicans that the US “owes them” because the US took half of their territory from them. Of course, the white, Harvard educated technocrats who run Mexico don’t really believe that, but it makes for good sound bites on Mexican TV.
There might be a shred of logic there if all illegal immigrants stayed in the southwest instead of travelling to other parts of the USA that never belonged to Mexico.
Controlling our own borders = racist
La Raza? Just a hispanic civil rights organization.
“For The Race everything. Outside The Race, nothing.”
– La Raza motto
La Raza are Mexican kkk with some socialism thrown in. When I lived on the border I knew many Hispanics that didn’t like La Raza.
hire more cops!! enforce the laws. Jail the people who hire cheap illegals!
Another day of this.
http://goo.gl/VhaCig
It looks like Trump’s strongman thug tactics are blowing up in his face. Hopefully his hair won’t catch fire.
Every time they say that, he gets stronger.
Thanks for the endorsement, Willard!
Trump Rolls Out Free Market Healthcare Plan
On the first day in office Trump promises “to immediately deliver a full repeal of Obamacare.”
Kurt Nimmo | Infowars.com - March 3, 2016
The Donald Trump campaign has posted the candidate’s plan to repeal Obamacare and do away with the ruinous individual mandate.
“Since March of 2010, the American people have had to suffer under the incredible economic burden of the Affordable Care Act—Obamacare. This legislation, passed by totally partisan votes in the House and Senate and signed into law by the most divisive and partisan President in American history, has tragically but predictably resulted in runaway costs, websites that don’t work, greater rationing of care, higher premiums, less competition and fewer choices,” the Trump website explains.
On the first day in office Trump promises “to immediately deliver a full repeal of Obamacare.”
In addition to repealing “this terrible legislation,” the Trump administration will work with Congress to implement free market principles “that will broaden healthcare access, make healthcare more affordable and improve the quality of the care available to all Americans.”
In order to break up healthcare insurance monopolies the Trump plan will permit the sale of healthcare across state lines allowing vendors to compete and thus lower prices for consumers. “By allowing full competition in this market, insurance costs will go down and consumer satisfaction will go up,” Trump argues.
Consumers will be allowed to shop around to find the most affordable price for exams and other medical-related procedures. Price transparency will be required by healthcare providers, organizations and doctors.
The plan will put an end to government enforced monopolization of the drug industry. “Congress will need the courage to step away from the special interests and do what is right for America. Though the pharmaceutical industry is in the private sector, drug companies provide a public service. Allowing consumers access to imported, safe and dependable drugs from overseas will bring more options to consumers,” Trump explains.
Health insurance premium payments will be fully deductible under the federal tax system. “Businesses are allowed to take these deductions so why wouldn’t Congress allow individuals the same exemptions?”
Additionally, the plan calls for tax-free Health Savings Accounts (HSAs) that will be allowed to accumulate and be passed on to heirs without the threat of the so-called death penalty.
Trump’s plan also calls for enforcing immigration laws. “Providing healthcare to illegal immigrants costs us some $11 billion annually. If we were to simply enforce the current immigration laws and restrict the unbridled granting of visas to this country, we could relieve healthcare cost pressures on state and local governments,” he explains.
It’s a great time to buy a house.
To flip. The more leverage - the more profit.
Here’s a beaut:
http://www.zillow.com/homes/for_sale/Town-of-Topsham-ME/pmf,pf_pt/85015629_zpid/396140_rid/any_days/featured_sort/44.015533,-69.808674,43.901108,-70.114232_rect/11_zm/
No, there’s no bubble. Goes for $30K in 2011. How much money was put into a double-wide to ask nearly $90K five years later?
This is easy math here. Only buy what you are willing to sit on for years. Houses are not anything more than to store your crap and sleep, eat and watch the grass grow.
The ad doesn’t mention any work done. Somebody call JM, he’s gotta tell us it’s different this time.
Built in 1996
694 days on Zillow
08/12/15 Price change $89,777-10.0% $93
04/23/15 Price change $99,777+233% $103
08/19/11 Sold $30,000 $31
The obama housing bubble v2.0 is going strong.
————–
House ‘Flipping’ Skyrockets, Sparks Concern Over a Housing Bubble
NBC news | 3-3-2016 | Reuters
The report by RealtyTrac found that home flipping in 12 active metropolitan areas last year was above a peak set in 2005, just two years before the U.S. mortgage market started to collapse, leading to a banking crisis and the Great Recession.
Profits generated by home flipping also hit a 10-year high, with home flippers netting an average $55,000 per sale before renovation and transaction costs. Profits topped $100,000 in expensive markets such as New York and Los Angeles.
There were also indications smaller investors were starting to pile in on the action. The number of home flippers rose to levels not seen since 2007, while the number of home flips per individual investor fell at the same time.
“When home flipping numbers go up, it is usually an indication that the housing market is in trouble,” said Matthew Gardner, chief economist at Windermere Real Estate, who was quoted in the report.
Nearly 20 percent more homes were flipped than in 2005 in Pittsburgh and Memphis. Home flipping was above 2005 levels in Buffalo, New York; Birmingham, Alabama; Cleveland, and San Diego. Seattle and San Diego, however, saw a decrease from 2014 levels.
The Miami metro area had the most homes flipped of any market nationwide. In 2015, 10,658 were flipped in Miami, representing 8.6 percent of all Miami-area sales for the year and up 4 percent as a share of all sales from 2014.
‘There were also indications smaller investors were starting to pile in on the action. The number of home flippers rose to levels not seen since 2007, while the number of home flips per individual investor fell at the same time.’
Where was it that I saw posted? Maybe here the other day a post I added to about the ‘Full House’ property being valued at $3 million+ ? There is a bet going on for greater fools to be constantly churned out. Of course you can ask for $50,000 for your 1995 Honda. Getting the actual money is another thing.
Foster Farms and Hilton and contractors love illegals and cheap labor. You could stop the problem overnight if you made it a huge fine:
no hiring illegals
no rent to illegals
no bank accounts
no school
no bus pass
(but business love cheap labor, taxpayers pay for it)
Flashback Quote of the Day
“Donald Trump has shown an extraordinary ability to understand how our economy works to create jobs for the American people. He’s done it here in Nevada, he’s done it across the country… He’s one of the few people who stood up and said, you know what, China’s been cheating. They’ve taken jobs from Americans.”
— Mitt Romney praising Donald Trump four years ago.
https://politicalwire.com/2016/03/03/flashback-of-the-day-26/
“Herbalife Stocks Plummets After Company Admits Its New Member Data Was Cooked And Overinflated”
http://www.zerohedge.com/news/2016-03-03/herbalife-stocks-plummets-after-company-admits-its-new-member-data-was-cooked-and-ov
A page torn from the Housing Handbook.
Ever wondered why NAR reports 5.4 million annual sales yet organic housing demand is at 20 year lows and falling?
The tinfoil hat guys rule the roost at ZeroHedge, if the comments are indicative…..
http://tinyurl.com/z99qwey
THE MOON LANDINGS HAPPENED. Period. Nothing in the program was started from scratch. It was all built on existing technologies.
The Biggest challenges:
-Man-rating all of the hardware (making it reliable enough to haul guys to the moon without blowing up)
-Doing it before 1970.
As noted, these are “money” problems, not technology problems.
The X-15 and XB-70 programs were bigger technical challenges, IMO. But nobody denies the existance or performance of either of those programs.
One of the arguments they put forward to say it didn’t happen is: “Well, nobody else has done it………”
If the Moon was covered with gold dust, you can bet they would be the first guys building rockets to get there.
I’ve seen some of the early space hardware at the NASA museum. It was pretty crude by today’s standards, but obviously built for the real thing.
Conspiracy theorists typically require evidence that provides metaphysical certainty whereas their own evidence is typically quite vaporous.
@ Selfish Hoarder — Bill in Irvine/LA
I read Harry Browne on your advice and it helped me a lot, so I wanted to thank you for that first.
Secondly, I think you buy precious metals in Orange County. I would really appreciate any help finding someone local and reputable to help me out with that; I’m in OC too.
You can contact me at hllnwlz@gmail.com.
Thanks again, Bill. I’m probably only one of many that you’ve helped through this blog, so that thanks is on behalf of all of us.
Thanks hllnwlz. You made my day. I will e-mail you l8tr
Jeez I couldn’t have come up with a better phishing post in a million years. Hope that’s legit.
hllnwlz I just sent you an email from anonymous.feedback.net 9:22 pacific time March 3.
Bill
p.s. Meltdown I’m using Joshua Tree. All I see is your brown stripe above this. I suggest you eat more fiber?
Lyrics borrowed from ‘Devil Went Down To Georgia’
The Devil opened up her case and she said, “I’ll start this show.”
And fire flew from her fingertips as she put on eye shadow.
She pulled some gloss across her lips and it made an evil hiss.
And a band of demons wrote her speech and it sounded something like this.
http://www.youtube.com/watch?v=S-sPO5FNYQ4 - 245k -
“AK Steel Holding Corp. led a U.S. steelmaker rally after the Department of Commerce imposed tariffs of as much as 266 percent on imports of cold-rolled steel after determining they were priced unfairly.”
http://www.bloomberg.com/news/articles/2016-03-01/u-s-said-to-impose-266-tariff-on-imports-of-steel-from-china
Well looky there. A wall on the border that the Chinese will pay for.
price of trumps wall just doubled
Alright Ex, what can you tell me about some roots in the cast iron pipe? I’ll have video tomorrow and screenshoot it for you.
Not to step in front, but this is what rotorooter guys were born for.
He went over all of it with me. Pipe burst, pipe line blah blah.
It’s only been 24 hours and I’ve already wasted hundreds of dollars and a whole day. I’m not even going to have time for Olive Garden.
Burst. Sounds like fun.
You are already living like a homeowner and it’s only been one day. See how easy it is!
I recommend Applebees…wait times are shorter.
Another charade crashed and burned before it even got off the ground.
You cheerleaders need to get your $hit together.
Rubio?
Sports Authority - 140 to be closed nationwide.
Retail getting crushed.
I thought we has a recovery? why is everyone going bankrupt?
Trim tabs calculated that only 55000 jobs were created n february according to tax withholdings.
But the massaged data will say 200k probably.
there is a lot of hype right now.
The O recovery ended 11 mos ago.
I’m sorry you guys missed the recovery in stock and home prices again.
You were too late to the party.
Yet, people are still signing up for $750,000 Flip or Flop homes.
Payroll tax receipts are down.
Bonefish
How could the godfather (ROMNEY) of ObamaCare lecture us on anything?
I would live in a cardboard box if that was socially acceptable.
Now you’re not being honest with us.
Maybe you need to take a week off work and family and go sit in the woods in the mountains and think. Why do you want to take a 30 year loan when prices are multiples of “replacement cost”? Why haven’t you saved anything in the past decade? Why did you do a live sewer cam less than 24 hours after your landlord said he wanted to sell his house (again)? How does this align with your life strategy? I’ve been thinking about you saying you don’t need options, toe-tag is your preference. This kind of contradicts you being ass over teakettle just today at the slightest change in situation. Just thinking outloud.
The only winner here is me. And I’m living in your head rent free.
Old angry men sure do repeat themselves often.
When POTUS, will Trump:
tell us about area 51?
expose the truth on 9/11 and building 8?
stop giving Israel $8 bill a yr? Maybe $2 bill?
share the secrets about pearl harbor?
Who knew Pearl Harbor was a secret.
houses and stocks are a meal ticket.
Trump said he “could have asked Mitt to drop to his knees and he would have.”
Could anyone who understands that remark please explain?
It’s what happens for 30 long weary years right after you make the mistake of paying a grossly inflated price for a rapidly depreciating asset and then financing it.
I thought he was talking about fellatio. My bad.
A distinction without a difference.
Nobody can accuse Trump of erring on the side of political correctness.
After tonight’s debate, they can! Whoo-hoo sad panda boo-hoo.
If more people had experience paying off $50 or $100K They’d NEVER sign a dotted line for a $400,000+ Mortgage…
If elected, will Trump officially abolish the anti-bullying rules that many middle schools around the U.S. have adopted?
You’ll need a good therapist.
the circus is on fox. now they say they (GOP) are against crony capitalism!!! lol! they wrote the rule book on it.
And the best part about it?
Mr. Donald Trump, from your empty skull, directly to the WhiteHouse, lives….. rent-free.
text TRUMP to 88022
You say stuff in your speeches which would get a sixth grade boy sent to the principal’s office if he said them. What did they teach you in reform school?
Per Cruz, his boy Reagan committed treason. Cruz is so dumb
Hello debaters: Reagan rebuilt the military. AND TRIPLED THE DEFICIT! duh!! ya cant borrow your way to property. debt is for dummies
Cheetos. Fetch. Now.
Lola, dont blame the Cheetos for your orange fingers and itches.
Fetch two and drop one in Donks feed bag. Feed the poor.
wash your hands before you itch your crooked nose
Fetch. And be quick about it.
Is the delay in indicting Hillary due to the lack of an orange jumpsuit in her size?
http://market-ticker.org/akcs-www?post=231182
Yep, read about that earlier today. Sucks to be that guy, though.
The GOP is so negative. Lots of us are living the good life. I guess they are going after the loser vote, depressed folks like Mafia.
Namaste.
Just exactly how is a guy who has everything he needs, warns others that housing is overpriced and is going to go down, that there is rampant fraud in the statistics we are fed, a “loser”?
Do you believe in the Trump? Have you done your homework, or just a gut feeling he will save you?
Anyone see the debate? Trump just effed over Senator Sessions on the H1B visa issue, days after getting his endorsement.
I read the Fox News comment board, people starting to jump off the Trump train.
Really weird debate.
Even more interesting, though, was this little tidbit:
Fox New “finished” with Rubio:
http://thehill.com/blogs/ballot-box/271569-report-fox-news-finished-with-rubio
Looks like Cruz and Kasich. Trump shot his foot off, Rubio ticked off Ailes.
It’s hard to imagine evangelicals voting for a candidate who uses R-rated language on. the campaign trail.
It seems like the establishment Republicans completely missed the boat on stopping Trump. Now they are stuck with a candidate who is an abusive bully and doesn’t give a flying f_ck if traditional Republicans take offense.
US elections 2016
Opinion
For the Republican party, it’s Trumpocalypse Now
Christopher R Barron
Trump’s Super Tuesday successes represent a fundamental reordering of the party – and neither Cruz nor Rubio can contain the forces he has unleashed
A supporter holds a cut of Republican presidential hopeful Donald Trump at a rally
‘A new, populist-nationalist wing has wrested control of the of the GOP away from its familiar constituency’.
Photograph: ddp USA/REX/Shutterstock
Wednesday 2 March 2016 03.37 EST
Last modified on Wednesday 2 March 2016 05.00 EST
There will be those in the Republican and conservative establishment who will try to spin the Super Tuesday results. Some among the GOP chattering classes will tell you that Trump didn’t get the knock-out punch he wanted – that there is still a chance to restore order. Don’t believe it. The numbers make it clear that, for the Republican party, it’s Trumpocalypse Now.
While Ted Cruz won his home state of Texas as well as Oklahoma, and Rubio ran him close in Virginia and actually managed to win Minnesota, Trump dominated elsewhere. His success extended from Massachusetts to Georgia to Alabama to Tennessee to Oklahoma. He won in Ted Cruz’s south, and he won in the north-east, where a more establishment-friendly candidate like Marco Rubio was supposed to prevail.
Trump is winning with men and women, moderates and conservatives, with the young and the old.
Trump is winning despite a weekend of unforced errors – after failing to repudiate former Klu Klux Klan Grand Wizard David Duke.
Trump is winning even after taking political napalm from Marco Rubio since last week’s debate – with Rubio ridiculing his rival on the trail for days.
Trump is winning despite the fact that the Republican speaker of the House and majority whip in the Senate both criticized him this week. He is winning in spite of the fact that almost every big name Republican officer-holder and mega-donor is lined up behind his opponents.
The race is not technically over. While Trump will win the lion’s share of delegates tonight, both Cruz and Rubio will pick up delegates and spend the next couple of weeks trying to convince voters and donors that they can stop the frontrunner – that they have a path to the nomination. Whether or not either of these men can really achieve that at this point – and I remain highly skeptical, despite Cruz’s two-state win – the day of reckoning for the Republican party has arrived. Whatever happens, what neither Cruz nor Rubio nor anyone else can do is to stop the forces that Trump’s candidacy has unleashed.
It’s no longer possible to say the Republican party is a conservative party. You can’t even say the Republican party’s base is conservative. It appears that a new, populist-nationalist wing has wrested control of the of the GOP away from its familiar constituency. This is no longer the party of William F Buckley and Jack Kemp. It’s now the party of Pat Buchanan and Ross Perot.
Trump’s opponents have argued that he has run a campaign devoid of policy. That is simply not true: he’s taken plenty of policy positions. Unfortunately for traditional Republicans, almost every one of them is complete anathema to conservatives, from trade, to entitlement reform, to healthcare, to the power of the federal government. While Rubio and Cruz fight the battle to keep a hold on the party in the short term, they have already lost the war. The carpet bombing that the stop-Trump forces now believe is necessary to keep him from winning the nomination will only serve to widen and deepen the schism between the conservative and the populist-nationalist wings.
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Is Trump homophobic?
‘Mitt, drop to your knees!’: Trump’s locker-room banter is simple homophobia
John Paul Brammer
Emasculation has long been Trump’s preferred method of humiliating his opponents – most recently Mitt Romney. At its root is an anti-gay mindset
Mitt Romney gives a speech on the state of the Republican party at the University of Utah on March 3, 2016.
Photograph: George Frey/Getty Images
Donald Trump looked like nothing more than a high school bully when he claimed before a crowd in Portland, Maine, that Mitt Romney would have exchanged sexual favors for Trump’s endorsement back when he was running for president in 2012.
This was in response to Romney’s speech in Utah, in which he declared Trump unfit for the presidency. He said the Republican frontrunner was a misogynist and a threat to America’s prospects for a “safe and prosperous future.”
“Mitt is a failed candidate. He failed. He failed horribly,” Trump said to throngs of his supporters. “That was a race – if I have to say, folks – that he should have won.”
He then claimed Romney had begged for his support in 2012. “You can see how loyal he was,” Trump said. “He was begging for my endorsement. I could have said, ‘Mitt, drop to your knees!’ and he would have dropped to his knees.’”
Donald Trump making inflammatory remarks about people who criticize him is nothing new. Indeed, ad hominem attacks are becoming the norm for other candidates as well. Marco Rubio has taken the gloves off, calling Trump a con artist, making fun of the spelling of Trump’s tweets, calling him “orange”.
But there’s a quality to Trump’s locker room-style harassment that has largely gone unaddressed: his insults come from a mindset that’s never more than a stone’s throw from homophobia. Today it arrived there.
Aside from promising he would “strongly consider” appointing supreme court judges who would overturn marriage equality, Trump hasn’t made many outright anti-gay statements on the campaign trail, perhaps because he’s been busy with every other minority community under the sun. But emasculation has long been his preferred method of humiliating his opponents.
…
Is there at least some chance that if Trump wins the Republican nomination, many of the top Republicans in the country will openly urge their constituents to vote Democrat?
Is Trump not only a fraud, but also a threat to democracy itself?
Frankly, Trump mainly strikes me as a gasbag. I don’t mean to suggest that wouldn’t change drastically if America makes the mistake of putting him into the Oval Office.
If elected, would Donald Trump force the U.S. military to commit war crimes?
Trump says he’d force U.S. military to commit war crimes
‘They’re not going to refuse me. If I say do it, they’re going to do it’
Donald Trump says he’d force U.S. military to commit war crimes
By Victor Morton - The Washington Times - Thursday, March 3, 2016
In an answer at Thursday night’s presidential debate, tycoon Donald Trump said he would force the U.S. military to commit war crimes.
Mr. Trump has suggested that he’d order the U.S. military to kill families of Muslim terrorists and institute interrogation techniques worse than waterboarding, itself widely condemned as torture. Torture and retaliatory executions are both war crimes under international law.
In a recent interview, former National Security Agency and CIA director Michael Hayden said that the U.S. military might refuse such orders, which would constitute war crimes. The U.S. military has been trained for a decades that an order to commit a war crime is not an legal order and thus must not be obeyed.
This was brought up by one of the moderators at the Fox News debate, and Mr. Trump brushed it aside. He said his personality would count more.
“They won’t refuse. They’re not going to refuse me,” he said. “If I say do it, they’re going to do it.”
…
Politics Election 2016
Mitt Romney Attacks Donald Trump, Pushes for Contested Convention
Former GOP nominee calls current front-runner a ‘fraud’
Mitt Romney called Donald Trump a “phony” and “fraud” in a scathing speech on Thursday as the 2012 Republican presidential nominee attempted to blunt the momentum of the billionaire businessman. WSJ’s Shelby Holliday has the highlights in today’s Campaign Fight Club.
Mitt Romney, the 2012 Republican presidential nominee, assailed current GOP front-runner Donald Trump on Thursday, questioning his honesty and arguing his nomination would guarantee that Democrat Hillary Clinton becomes the next president.
By Patrick O’Connor
Updated March 3, 2016 8:59 p.m. ET
WASHINGTON—In the most dramatic sign yet of the split opening in the Republican Party, Mitt Romney delivered a withering rebuke of Donald Trump on Thursday, and urged voters and leaders to block the front-runner from winning the nomination.
The 17-minute assault on Mr. Trump’s record, temperament and integrity marked another bizarre twist in an already stunning campaign drama that has, in the words of Mr. Romney, “shredded” all the “rules of political history,” pitting the GOP’s last nominee against the favorite to be its next.
In his critique, the former Massachusetts governor and 2012 GOP presidential nominee, called Mr. Trump a “phony” and a “fraud.” His broadside against Mr. Trump was backed up immediately by the previous Republican presidential nominee, Sen. John McCain, who called Mr. Trump’s statements on national security “uninformed and indeed dangerous”—a one-two punch with no real parallel in modern political campaigns.
Mr. Trump fired back by calling Mr. Romney a “failed candidate” who once begged for his help.
Mr. Romney encouraged voters in states that haven’t yet held a primary or caucus to force a fight at the party’s July convention in Cleveland by voting for some Trump alternative to deny him victories and delegates.
The Romney idea, if successful, would produce the most dramatic showdown since 1976, when then-President Gerald Ford and challenger Ronald Reagan battled to the national convention before Mr. Ford prevailed on the first ballot. But the divisions in the party today are wider, and the debate is more angry and bitter than in 1976.
The plan would allow all the remaining Republicans to stay in the race, but has plenty of challenges.
The GOP would somehow need to prevent Mr. Trump winning all big states in primaries on March 15, including Florida and Ohio.
That would mean requiring voters to settle on an obvious alternative in each state. Trailing campaigns would also need to cede ground to better-placed rivals, allowing the most competitive to defeat Mr. Trump.
“If Donald Trump wins Ohio and Florida, he’ll be the nominee and nobody can stop him,” said Ben Ginsberg, a leading Republican election-law expert. “If he doesn’t win both, it is theoretically possible that he wont have a majority of delegates going into the convention.”
…
Mitt Romney and John McCain Denounce Donald Trump as a Danger to Democracy
8:56 am ET
By Alexander Burns and Michael Barbaro
Election 2016 By REUTERS and THE ASSOCIATED PRESS
Mitt Romney pleaded with Republicans to support a presidential candidate other than Donald Trump, and Mr. Trump swiftly responded.
By REUTERS and THE ASSOCIATED PRESS on Publish Date March 3, 2016.
Photo by From left: George Frey/Getty Images, and Hilary Swift for The New York Times.
A divided Republican Party erupted into open and bitter warfare on Thursday as its two previous presidential nominees delivered an extraordinary rebuke of its current front-runner, Donald J. Trump, warning that his election could put the United States and its democratic system in peril.
In a detailed, thorough and lacerating assault on Mr. Trump and the angry movement he has inspired, Mitt Romney, the party’s nominee in 2012, attacked him as “a fraud” and “a phony” who would drive the country to the point of collapse.
“He’s playing the American public for suckers,” Mr. Romney said, breaking from his customary restraint. “He has neither the temperament nor the judgment to be president,” he added.
As soon as he was finished, Senator John McCain, the party’s standard-bearer in 2008, endorsed Mr. Romney’s jeremiad and denounced Mr. Trump as a candidate who was ignorant of foreign policy and has made “dangerous” pronouncements on national security.
For a party that prizes unity and loyalty, it was an unheard-of onslaught against a figure who is marching toward the nomination, highlighting the widening and seemingly unbridgeable gaps between Republican elites and their electorate.
There is a growing prospect the Republican Party leadership could abandon its own nominee this fall, a once unthinkable scenario. Mr. Romney all but explicitly called for a messy convention floor battle, the likes of which neither party has witnessed in decades.
Former Senator Norm Coleman of Minnesota, a supporter of Marco Rubio’s, said that Mr. Trump’s nomination would create a “historic breach” in the Republican Party. “This guy cannot be the president of the United States,” Mr. Coleman said.
…
The Fix
Mitt Romney did Donald Trump a BIG favor by attacking him
By Chris Cillizza
March 3 at 9:27 AM
…
While Romney may not think the Trump takedown has been executed as well as it might by the party establishment, is there ANY Republican voter paying even a little attention who doesn’t get that the party poobahs don’t want Trump and think he poses a major threat to the GOP? The answer is no.
Romney’s speech will set off lots and lots of head nodding among the people who concluded long ago that nominating Trump is a bad idea. But will it persuade anyone who is voting for Trump not to do so? I seriously doubt it. In fact, I think that more than anything, it will confirm for those people that Trump must really be a threat to the hated establishment if people like Romney are this panicked about the real estate mogul getting the nomination.
If Trump ever needed a testament to just how much the establishment is against him, this Romney speech is it. Romney felt like he needed to do it but the most likely outcome is the opposite of what he was going for: an emboldened Trump crusading against the sad losers of the Republican Party past.
…
Is Trump a white supremacist or isn’t he? I can’t tell by the way he answered questions about David Duke.
Is “Trump University” a real university?
Fact Checker
A trio of truthful attack ads about Trump University
By Glenn Kessler
February 29
“We are going to have professors and adjunct professors that are absolutely terrific, terrific brains, successful. We are going to have the best of the best. Honestly, if you don’t learn from them, if you don’t learn from me, if you don’t learn from the people that we will be putting forward — and these are all people who are going to be handpicked by me — then you are just not going to make it in terms of the world of success.”
— Donald Trump, remarks in an introductory video for Trump University
We are going to examine the facts behind three new ads attacking GOP presidential front-runner Donald Trump and his involvement with Trump University, which are being aired by the American Future Fund, a politically active nonprofit group that does not disclose its donors but backed Mitt Romney in the 2012 campaign.
But we first wanted to start with a video that Trump filmed to tout the program, in which he declared he was going to have the “best of the best” professors — “handpicked by me.” As you can see, the president of the “university” later conceded that that claim was false when questioned about the program under oath.
Given that a key feature of Trump’s presidential campaign is his pledge to hire the “best of the best” as president, the fraud allegations surrounding Trump University may stick in ways that other attacks have not. Trump has misleadingly claimed that he has won most of the lawsuits concerning the program — and on Feb. 27, he devoted a lengthy portion of a campaign speech to offer a defense, including suggesting that a Hispanic judge in one of the proceedings was biased against him.
In 2013, New York Attorney General Eric Schneiderman filed a $40 million fraud lawsuit against Trump and Trump University, alleging that Trump had defrauded more than 5,000 people through an unlicensed, illegal education institution. Two other class-action lawsuits have been filed against Trump by former students demanding their money back.
A Trump University internal playbook obtained by the Atlantic shows how the main goal of the instructors was to “sell, sell, sell,” as it declared on page 23. People were invited to a free introductory course, at which various tidbits of real estate secrets were offered, with the express goal of getting people to sign up for a three-day seminar costing $1,495. (The playbook set a “Minimum Sales Goal” of $72,500 per seminar, meaning that the speakers needed to persuade at least 50 people to sign up each time.)
Then, at the three-day seminar, the hook was set for a purported year-long mentorship program costing $35,000 (supposedly discounted from $49,000). That then led to even more sales pitches for even more products, such as a $3,500 bus tour of real estate properties. Schneiderman has alleged that Trump personally earned $5 million from the enterprise, although Trump has claimed the money was destined for charity.
Obviously, the claims still needed to be litigated, and Trump has vigorously denied he did anything wrong. But the stories told in the ads are backed up by signed affidavits of refund requests filed by the people featured in the ads. (We have embedded them at the end of this post.)
…
The Iowa Electronic Markets spread in favor of a Democrat win in November keeps getting wider and wider, especially now that the Republican Party is engaged in outright civil war.
Here is the 2016 US Presidential Election Winner Takes All Market figure, and here is the 2016 US Presidential Election Vote Share Market.
I’ve never seen such a large vote share market gap between the two parties; could it reflect Republicans crossing over to vote Democrat because they can’t stand Trump?