The Heady Days Of Old Are A Distant Memory
The Financial Post reports from Canada. “Even realtors in Calgary are suggesting picking the bottom of the housing market is getting tougher and tougher in the oilpatch. The Calgary Real Estate Board said that its benchmark house prices were 3.51 per cent lower from a year ago. High-rise apartment have been the hardest hit sector of Calgary’s housing market and suffered a first quarter decline of 17 per cent in sales from a year ago. The benchmark price of $281,300 in March for an apartment was seven per cent below where it was a year ago. At the same time, homeowners are continuing to try and exit the market. ‘Homebuyers continue to wait and see if there are going to be further declines in home prices before making an offer,’ said Cliff Stevenson, president of the board.”
The Rio Times on Brazil. “The price of real estate in Brazil rose on average only 0.53 percent over the twelve months to March, according to the FipeZap index. It is the smallest increase registered since the index began in 2008. The high rate of inflation in the country means that the property market experienced a fall in real terms of 8.10 percent. Widescale scandal and political manoeuvring are affecting Brazil’s government and its economy. The value of the real continues to fluctuate, unemployment has risen and banks have become reluctant to lend to potential buyers. As a result the housing market has contracted.”
“‘If at first, in a growing economic cycle mortgages were cheaper and in high demand, now there is a reversal of these factors, as interest rates are high and credit scarce,’ says Eduardo Zylberstajn, the Fipezap index coordinator.”
From This Is Money in the UK. “Property sellers in some of London’s most prestigious postcodes are having to lop thousands of pounds off the asking price in order to sell, a global estate agent says. Hardest hit have been home values in Knightsbridge, Knight Frank says. In the last year, prices plummeted 6.8 per cent. Tom Bill, head of London residential research at Knight Frank, said: ‘There is a growing recognition on the part of vendors that the prime central London property market is no longer on the upwards trajectory it was in the years following the financial crisis. Asking prices are typically declining by in excess of 10 per cent to attract price-sensitive buyers.’”
“Another reason prices are falling is that bankers’ bonuses are not as good as they once were. Nick Miller, head of corporate and institutional banking at executive recruitment company Odgers Berndtson, said: ‘The banking industry is finding a new normal and the heady days of old are, in most cases, a distant memory.’”
Voice of America on Russia. “Russians who took out mortgages in foreign currencies have been hit hard by the drop in value of the ruble, and many are struggling to make payments or are facing eviction. In recent months, groups of dollar and euro mortgage holders have held protests at Russian banks demanding restructuring of loans. Single mother Tamara Makoeva was paid in U.S. dollars when she took out a mortgage in 2006, also in dollars, to buy an apartment in a new building that was under construction. She wanted to stop throwing away money on rent and invest in a home. But, as the 2008 economic crisis hit Russia, her salary was switched to rubles.”
“Construction delays on the building forced Makoeva to keep paying rent for a place for her and her daughter. She says monthly payments on the unfinished apartment cost more than half her salary. ‘I am already two months late with payments,’ says Makoeva, ‘because it is impossible with the present rate of exchange, as it is either pay out the mortgage or feed the child. So if I don’t reach a compromise with the bank, I’ll have to give up the apartment.’”
Al-Monitor on Turkey. “Over the years, the only sector in Turkey that hasn’t disappointed investors seeking high returns has been housing. The trend continues, although there are fears that it may be a bubble that could burst soon. Ahmet Buyukduman, known for his assessments of Turkey’s housing sector, spoke to the claims that Turkey is experiencing a housing bubble. ‘I don’t see a bubble or a problem with housing prices. But Istanbul is different. Here, prices are devoid of economic rationality. Istanbul is the least advantageous city to buy a house, and this pace of price hikes cannot be sustained,’ he told Al-Monitor.”
The Nation Online in Nigeria. “On the walls of several new and renovated buildings in Lekki and on Victoria Island, hang weather-beaten inscriptions: ‘To Let /Lease, contact….’ The situation is the same in other city centres. Not a few houses have been unoccupied for more than two years in some areas. The development is attributed to several reasons. One of such is the high cost of rent placed on the vacant structures. In times past, owning a property or living on Victoria Island used to be s status symbol for the super rich. However, the fortunes of the highbrow area seem to have nosedived. A lot of buildings are unoccupied in the area. A walk around Victoria Island and Ikoyi will portray the reality of vacant flats and buildings begging for tenants.”
“A property developer, Mr. Kayode Oyedele, confirmed the high vacancy rate on Victoria Island. ‘I will advise that developers should become more realistic and also work in tandem with current economic realities to beat the property glut,’ he said. ‘If a person earns N2 million per annum, do you expect such a person to spend N1.5 million annually on rent?’ he asked rhetorically.”
South China Morning Post on Hong Kong. “Barely more than a quarter of eligible buyers for a subsidised flat in a Kai Tak housing project made a purchase on Tuesday amid a cooling housing market in Hong Kong. Just 19 units were sold on the first day of a four-day sale for the 338 flats of De Novo, a development by the Urban Renewal Authority. Midland Realty chief analyst Buggle Lau Ka-fai said De Novo flats faced competition from other private flats offered in the property market, which now shows signs of cooling.”
“‘It’s now a buyers’ market, meaning buyers have relatively more choices, and they will look beyond just De Novo,’ said Lau, who observed prices of secondary homes in the city on average dropped 5 to 6 per cent in the first quarter this year.”
“One eligible buyer, surnamed Kwok, said he did not make a purchase because he felt the discount was ‘too little.’ Sizes of the subsidised flats being offered range from 332 sq ft to 568 sq ft. Selling prices, set after a 20 per cent discount of the market value of the flats in December last year, range from HK$3.411 million to HK$6.627 million.”
Looks like the appraisers think something stinks:
https://www.appraisalbuzz.com/collateral-risk-network-submits-comments-to-ffiec/
http://www.chinaeconomicreview.com/china-faces-sub-prime-housing-risk
There’s a problem in their ranks I believe. When you pay for a bonafide appraisal and you get a BPO or CMA, there’s a problem.
Haven’t most of the sales in the last 15 years been founded on BPO’s and CMA’s?
From This Is Money in the UK. “Property sellers in some of London’s most prestigious postcodes are having to lop thousands of pounds off the asking price in order to sell, a global estate agent says.”
Must suck when you have to lop thousands of pounds off of the price of a 10,000,000 GBP house for it to sell. The horror, the horror!
‘Hardest hit have been home values in Knightsbridge, Knight Frank says. In the last year, prices plummeted 6.8 per cent’
I think it’s more than a few thousand:
http://www.rightmove.co.uk/property-for-sale/Knightsbridge.html
Reduced on 07/09/2015 by Savills, Knightsbridge
Reduced on 05/11/2015 by Savills, Sloane Street
Reduced on 27/01/2016 by Beauchamp Estates Ltd, Mayfair - Resale
Reduced on 21/01/2016 by Savills, Knightsbridge
Reduced on 12/02/2016 by Knight Frank - New Homes
Reduced on 14/09/2015 by Strutt & Parker, Knightsbridge
That’s just page one.
My heart bleeds for them still plenty of basements still being dug.
London’s super-wealthy have found a new way to get what they want by circumventing London’s building height restrictions: dig down.
One of the biggest trends going around London’s wealthy neighborhoods is excavating the ground beneath their homes to add levels of luxury amenities such as pools, cinemas, saunas, and wine cellars. It’s not just digging out one level. Some of these mansions have five additional stories underground, what some have dubbed ‘iceberg basements’ because the above-ground structure looks so quaint.
http://www.builderonline.com/newsletter/when-millionaires-cant-build-up-they-build-down_c
Perfect for keeping slaves in.
2016-04-06
Beijing Home Buyers Disappear
http://investinginchinesestocks.blogspot.com.au/
Check those London basements.
I’ll admit it: the plans look totally cool and beautiful and cool and I want in.
But wouldn’t this wreak havoc on the infrastructure or the Tube system?
a basement pool? hi, my name is mold
a basement pool?
There’s a cask of Amontillado in the deep end.
Basements are instant swimming pools. Just add water.
‘London’s super-wealthy have found a new way to get what they want by circumventing London’s building height restrictions: dig down.’
Think about all the jobs this must be creating!
shovel - ready jobs looking for green shoots
“She wanted to stop throwing away money on rent and invest in a home. But, as the 2008 economic crisis hit Russia, her salary was switched to rubles.”
Lots of folks in Cyprus got killed by this tactic. They took out mortgage loans in Swiss Francs and when the Franc was re-pegged, those folks got hammered hard.
When you pay triple or quadruple the price for anything, you’re going to get hammered hard irrespective of the currency or exchange rate.
When you borrow large for several decades thinking the future has no surprises you are going to get hammered hard.
Most people with mortgages are only one missed paycheck away from disaster because they failed to calculate depreciation into the purchase and debt financing of their rotting, collapsing shack.
“Lots of folks in Cyprus got killed by this tactic. They took out mortgage loans in Swiss Francs and when the Franc was re-pegged, those folks got hammered hard.”
Those silly Greeks over-bought German products (pent-up demand, hehe), and now they’re bending over for bologna sandwiches.
We’re still in underwriting. Closing May 10 or earlier if possible. I’m looking forward to adding a few things like trellis/vines and a deck… some crushed shell pathways… a lean too for indoor/outdoor workbench and kayak storage… picnic table.
“Underwriting”?
Lolz
This is also worth a repeat post:
——————-
Comment by Shekels
2016-04-05 08:47:51
NAR tearjerker puff piece frames becoming a debt donkey as some kind of accomplishment:
http://www.bloomberg.com/news/articles/2016-04-05/how-a-millennial-fought-her-way-to-post-recession-home-loan
All this just for a depreciating, rotting shack in North Philadelphia.
——————
It’s worth scrolling the article for the graph of median FICO score of buyers over the past 17 years.
Also, it’s worth noting that
A. a millenial donkey with almost no income, $27K student debt and no credit history built her FICO to over 700 just by living in mom’s basement rent free. (methinks Mom cosigned some low-limit card, but they don’t mention that.)
B. The mortage lender “complained” about putting her through the ringer. What, Fannie no longer buying your toilet paper sight unseen? boo hoo.
C. Nowhere does anyone state what the cost of the house was.
D. The place is a teardown in a war zone. Better hope it gentrifies fast.
It’s a good thing this lady didn’t come to HBB. She would have been Joshua-ed and deserved it.
I like working w concrete around the house
Hate everything else
High ruse in Calgary?
It’s a cow town
Then head on over to Donk Cratertons and cast a slab in her stable. A dirt floor is inhumane.
‘Donk Cratertons’ LOL ^^
Muggy, one the important points on this blog about home buying is that the home owner interest deduction (from earned income) is a myth more many people. This is because the interest and property taxes paid often does not exceed the standard deduction for non-itemizer tax payers.
This from the IRS: The standard deduction for heads of household rises to $9,300 for tax year 2016, up from $9,250, for tax year 2015.The other standard deduction amounts for 2016 remain as they were for 2015: $6,300 for singles and married persons filing separate returns and $12,600 for married couples filing jointly.
So here is my question: Will you derive any tax benefits from home ownership based on the interest deduction? Will you itemize and when you combine your expenses for interest, property taxes and other miscellaneous deductions, will it exceed $12,600 (I think you are married). Thanks.
Alas, my taxes are about $1200 per year. I just take the standard deduction. I struggle to figure out what to do with the rest of the cash.
Alas, my taxes are about $1200 per year.
I thought you still had decent earnings the past few years, Blue—but IIRC, you were expecting not to have much work after the current project completed.
Unless I got that wrong (likely), how can your taxes be only $1200/yr?
Prime,
I was referring to jingles’ real estate interest + tax question. I don’t pay any interest The IRS still gets a significant piece of me.
Property taxes. And IIUC, his house was under $100K and he’s still paying that much in property taxes. New York is a very high-tax state.
Ah, sorry, Blue—brain not engaged. I should drink more coffee before I post…
The RE tax rate in NY is about 3% so you can see that $100,000 is a gross exaggeration.
It gets better though, in about a year I will get the oldster’s exemption on school taxes.
in upstate the house is free -you just pay taxes and utilities
Blue, I knew it was less than $100K but I didn’t want to put out a specific number on the internet.
That’s what’s best about living on a boat. No taxes. Utilities are insignificant. Boats are not free though.
But the canals you travel through are maintained by your big, blue, commie state government, at a great loss, yes?
Don’t get me wrong, I’m looking forward to hanging out!
Never happen
Muggy,
Maybe that’s why they paint everything blue!
A big part of why the state maintains the canal is that it is inseparable now with flood control for the whole western half of the state. It will be around for a while.
It will be around for a while.
Hitch your wagon to a star, float your houseboat on a massive gubmint flood control program. I like it.
If prop tax and interest are equal or almost equal to the standard dd, an owner comes out ahead as itemizing then provides access to the state sales / income tax dd, charitable and all the misc. Itemized dd’s.
Just how far ahead is one who pays double current rental rates?
“Muggy, one the important points on this blog about home buying is that the home owner interest deduction (from earned income) is a myth more many people.”
For most people the home owner interest deduction is a selling point, not an actual point. People suck at math (a good thing) and they are lazy (another good thing) and they get stars in their eyes (the goodest thing of all).
People act for emotional reasons and use logic to rationalize these emotion-driven actions. Interest deductions for tax purposes are one of these rationalizations, rationalizations offered up (but not actually used) to help justify to others and to themselves the buyers’ “reasoning” that drove the purchases.
MID was much less of a myth back when mortgage rates were 8-10%.
If they were to limit it or get rid of it, now is the time, when it’s not as important. I definitely don’t think it should apply to second residences.
Even at mortgage rates of 3% if you have to borrow for 30 years you can’t afford it.
When mortgage rates were 10%, house prices were 1/3 of what they are now.
My mortgage interest isn’t high enough to itemize on my personal return so I take the the standard deduction. I thought this was a good thing, who wants to pay enough interest to get a percentage of it deducted from your tax bill?
Anyway in 4 years I have paid $17k less owning than I was paying for rent which is good.
More importantly is the $82k cash money that I have not given to DBLLs in the last 4 years to finance their living beyond their means lifestyle which is priceless to me.
PS
Both DBLLs lost the homes I was renting from them after I moved out.
Jingle Male, I have not considered any of the potential tax benefits. I am married.
I don’t think my taxes and interest will exceed $12,600
Don’t forget the losses to deprecation.
LOLZ^
$3/sq ft per year adds up in a hurry.
What, you’re not going to paint the walls?
Whatever you do, do not put up wallpaper. I repeat: DO NOT PUT UP WALLPAPER. It will immediately drop the value of your house. It is also very expensive to remove because of all the manual labor. No wallpaper, anywhere.
And please, if you can, TRY not to paint the bedrooms blue and pink for the kids. Yes, your daughter will beg for a pink bedroom. Great. Pink rug, pink furniture, pink drapes, pink pony stick-ons, pink bedspread, pink pillows, pink TV, as many pink frillies as you want. But leave the walls white and good god don’t touch the flooring.
You’re reinforcing heteronormative stereotypes, which is not only cisgenderist, but also racist.
Then check Zillow lol. You’d be amazed at the number of cisgenderist bedrooms, not to mention the cisgenderist bathrooms.
Who’d of thought, a mortgage also makes you conform aesthetically.
Once again, debt is slavery.
Strangely enough, it wasn’t the mortgage that drove my need for white walls. It was my years of renting white apartments. Now, anything else is too dark, HGTV “accent wall” be hanged.
“It was my years of renting white apartments.”
Stockhome Syndrome
Actually, was it Blue that made this pun a while back?
“It is also very expensive to remove because of all the manual labor. No wallpaper, anywhere.”
I’m not a wallpaper guy but I have removed a fair amount of it at $1.10 a square foot. As long as the wall is primed with a primer/sealer before the wallpaper is put on it’s fairly easy to get off.
Get some Downy fabric softener and mix a cap full or two in a pump sprayer. Spay the wall down, let it soak in and spray it again. After that it usually comes off pretty easy with a six up to 12 inch knife.
Couple of things you want to throw in as disclaimers up front if you use those numbers or you get started on an easy do it yourself job.
no. 1
per layer (discovered that on a 3 layer job)
no. 2
the primer/sealer (you get wall paper put up over orange peel and cheap latex paint and you could end up pulling the paper off the face of the drywall before you’re done)
Worse yet if the wallpaper was put up to hide extensive plaster/lath deterioration.
Here’s a quick fix for a deteriorating old wood lath plaster house.
http://www.youtube.com/watch?v=XnjVtokJm2o - 176k -
Right were every house ends up eventually.
“…..pulling the paper off the face of the drywall……”
Ahhhh, the memories…….. The final nail in the coffin/push me over the edge moment for my divorce.
Moved into a (new to us) house in 1999. One of the problems was the old wallpaper in most of the rooms. I started downstairs, correcting various issues as I went.
Did the ex- ever bother to help? Nope. She was usually up in the bedroom, reading romance novels, and making sure the TV didn’t walk off.
Evidently, my removal pace wasn’t fast enough for her. So one day she corrals the kids and started ripping the wallpaper out of the living room, hall and main stairwell. Dry, no water no removal liquid of any type. Pulled the paper right off the drywall core.
Didn’t bother to stop and think “….maybe I should stop and find out what I’m doing wrong…..” She essentially says “It’s off……..now it’s your problem”
Six weeks of evenings and weekends to repair/replace drywall later (with, as usual, no help), I get up at 6am on a Saturday to start priming the walls. She rolls out of bed around 9:00. At which point, she makes a cup of coffee, turns on the TV, and starts watching “This Old House”……. I suppose to get ideas for “my” next batch of projects.
My “Eff it, I’m done…….” moment
How did you ever let her get away?
LOL. Lucky, I guess.
She decides to marry her new boyfriend before our divorce was finalized. (which is another LOL story). He calls to thank me, for “letting her go”.
I’m thinking “Better you than me, beetch……..”
“She was usually up in the bedroom, reading romance novels, and making sure the TV didn’t walk off.”
A buddy of mine had his sister in law living with him and his wife for about 8 months after her divorce. He said she was good for making sure the couch didn’t float away if gravity ever failed. Cooking, cleaning shopping or paying for groceries not so much.
“He calls to thank me, for “letting her go”
How long ago was that?
This reminds me of the story of the 50 year old guy who hit 140 mph running from the police and then came to his senses and pulled over and waited for them. When the State Trooper caught up to him he asked… Why in the hell did you do that?
To which the man replied…
Officer, my wife ran off with a State Trooper 20 years ago and I thought you were trying to bring her back.
2004, in November.
I filed for divorce in July 2003. She consults with her fellow RNs and comes up with a divorce lawyer.
My lawyer says first thing “She hired “XX”……..she’s really pissed at you”.
As the following 18 months would demonstrate, I had a wise council.
Anyhoo, early November 2004 rolls around. Divorce still not finalized, her lawyer continues trying to pick fly-s##t out of the pepper. She was convinced I had a huge wad of cash stashed somewhere, evidently. In the meantime, a new car starts showing up in the driveway of the ex’s place, whenever I picked up/dropped off the kids. (I was supposed to pick them up, and she would come by to take them home………never did it once in 7 years. Evidently figured that I would HAVE to bring them home). The girls tell me it’s the “new guy” that mom just met. About mid-November, he starts doing overnights at the house. Daughters are pizzed. They think the guy is a creep.
December rolls around. The divorce is about done, just need to finish the paperwork, get it signed and notarized. I had to go to DFW two weeks for school. Talked to the lawyer’s office, made contingency plan for handling the paperwork if i was still in DFW. Left for DFW on Sunday afternoon, paperwork hadn’t made it to my lawyer yet.
First Monday afternoon in DFW. Get a call from my lawyer’s office. Suddenly, she is in a big rush to get the divorce finalized ASAP.
Seems that SHE IS MARRYING THE GUY SHE HAS BEEN DATING FOR FOUR WEEKS TOTAL. Office assured me that they “weren’t s##tting me”. They wanted to get it finalized, so they could get married before December 31 (30 day wait to get remarried in Kansas). Made arrangements to handle the paperwork ASAP.
My initial reaction was “She’s been dragging this out for 18 months, and now she’s in a hurry. Why am I motivated to put a rush on this?” My lawyer advises me (wisely) that I was best served by getting it done while she was motivated. If it went beyond January 1, she would lose a lot of her motivation. And I would continue paying alimony.
The office told me on Monday “don’t be surprised if she calls you……..” So when she called on Tuesday afternoon, I played dumb.
Conversation goes like this:
Her: “Why didn’t you sign the papers before you left town?”
Me: “Because your lawyer didn’t get them to my lawyer’s office until yesterday. I drove down to DFW on Sunday before.”
Her: ” (pause)……….Well, you need to get those papers signed as soon as possible…..”
Me: (playing dumb): “What’s your rush? How am I going to do that? I’m in DFW two weeks for school.”
Her: “You need to figure it out………I’m getting remarried the day after Christmas….I’m doing you a favor……”
Me: “How do you figure?????”
In the end, the paperwork got done, but the state of Kansas screwed the pooch. Divorce didn’t get finalized until the 18th-20th. They couldn’t get married in Kansas by 12/31 because of the mandatory 30 day wait, so the ended up driving to New Mexico.
Telling the girls to “find a friend to stay with” while they were gone.
As it easily predictable, the bloom disappeared from this marital rose after about 8 months. But they are still married. She’s an RN, and makes a ton more money than he does. She would be paying HIM alimony
My friends find this tale highly amusing, so I’m sharing it with the HBB.
My tale is interesting too, but I cannot tell it as briefly as yours!
A few years later I was seeing a wonderful gal and one time she got all gushy and asked me to just marry her. Without hesitation I told her that I was still waking in the middle of the night in a cold sweat from a dream that I was [still] married.
That little tale is just the tip of the iceburg…….
LOL
The young guys I work with like my new Challenger. Advised them that I wouldn’t be driving it if I was still married.
I’d be driving a 8 year old, hand me down POS, on my way to my unpaid/uncompensated part-time job as the Stable Manager/Sh#t shoveler/Crisis Manager at the Casa de Cranky PITH.
I am pretty sure I wouldn’t be alive if I was still married.
It’s not that there is anything wrong with marriage, it’s the bad choices I made in my youthful enthusiasm, and then trying to “die by it”.
Why was the ex in such a hurry to re-marry? We’re talking a couple weeks. Was she afraid the man would get cold feet?
If this is how women act, then I guess I’m pretty bad at being a woman. And if this kind of woman that men want, it’s no wonder I’m still single.
“The young guys I work with like my new Challenger. Advised them that I wouldn’t be driving it if I was still married.”
That’s funny, when I got done reading your story I thought to myself, he wouldn’t be driving that new Challenger if he was still married to her.
phony, it depends on the wallpaper. My wallpaper was clearly put up at different times. For most of it, I had to steam off the paper and then use the dissolver chemical to wash off the glue. One room came off pretty easy and washed easy. In one room, the paper came off easy but it 3 washings to remove all the glue. In one room, it took me two months to steam off the paper and another 10 days and 10 scouring pads to scrub off the glue. This was all on drywall, some sized, some painted, some not.
Newer wallpaper is probably easier, but the old stuff is a nightmare. I’ve seen houses where the flipper put in a new kitchen but left the old wallpaper.
I had to steam off the paper and then use the dissolver chemical to wash off the glue.
You could always prime it, put a light texture over the top then paint. Save the paint and if in a couple months/years a patch falls off just redo the spot with texture and repaint the spot.
(If you like textured walls.)
“good god don’t touch the flooring.”
We have terrazzo throughout the entire house. It just needs a polish.
The kids rooms will likely remain antique white like much of the house. We like Key West and took some photos this year as guides for what we’ll do. We’ll keep it simple color paint-wise, with lots of plants and flowers. My son’s walls are already covered with athletes and whatnot. My daughter likes to post her own artwork, which is very colorful.
My wife grew up in a conservatively decorated 1800’s white farm house, and it’s similar to Key West simplicity, so we’re keeping that style.
We have a list of small odds and ends (like a crusty hose bibb), but nothing extensive.
The only thing we’ll add is a deck. I have to do some research on code in my county/town first.
At some point we’ll have to line the 4inch pipe under the slab.
Maybe hit Olive Garden if we have time.
Margy,
Whats wrong with Red Lobster?
We know a Millenial who bought a condo that has beautiful, natural hardwood flooring throughout. She wants to have the floor stained dark because it currently “doesn’t go with her stuff”.
“State officials warn that Southern California could face as many as 14 days of scheduled blackouts this summer because of depleted reserves of natural gas caused by the massive leak in Aliso Canyon.
Millions of energy customers could be affected in Los Angeles, San Bernardino, Orange, Riverside and San Diego counties.
In addition to the summer blackouts, the region could face an additional eight to 18 days of outages later in the year, according to the report by Rothleder’s agency and the California Energy Commission, the California Public Utilities Commission and the Los Angeles Department of Water and Power.”
http://www.latimes.com/local/lanow/la-me-ln-aliso-canyon-blackouts-20160405-story.html
Fun fact, there are new nuclear plants in the works in the USA!
Hooray!
or you can pay EU electric rates
If you want EU electric rates, just put up lots more solar and wind farms.
I’m fine with new nuclear plants, but I’d really prefer that we get molten-salt reactors perfected and certified, instead of investing in flawed, decades old technologies that were only chosen because they produced plutonium needed for the cold war…
Alexandria, VA Housing Market Craters; Prices Plunge 13% YoY As Housing Demand Plummets To 20 Year Low
http://www.zillow.com/alexandria-va/home-values/
$333/sqft! Keep droppin’!
Good point. Considering replacement costs are $50/sq ft(lot labor materials and profit), prices in Alexandria have a long way to fall.
Article fails to mention that median household income in Denver is $60,000:
“detached home prices increased 8 percent to $435,796 in March, while condo prices increased 11 percent to $287,249″
http://www.bizjournals.com/denver/blog/real_deals/2016/04/competition-prices-up-as-metro-denverhome-market.html
“Article fails to mention that median household income in Denver is $60,000:”
Raining on the Real Estate parade? Hehe.
Reuters piece linked from Google News:
“The number of adults with diabetes has quadrupled worldwide in under four decades to 422 million”
A related study from the Lancet predicts that “one in five people around the world will be obese by 2025″
This is gonna cost alot of money providing health care for these fats.
The solution to the pension underfunding problem is at hand.
It’s cheap vegetable oil. Corn, canola, safflower, sunflower, cottonseed, soybean.
Forget peddling that “sticky bud” son… dialysis is the new gold rush.
No wonder the planet is spinning slower and adding more leap years.
As a “Fat”, I’m actively planning for an early exit.
After seeing my granddad and father live the last 4-5 years of their life with Alsheimer’s/dementia, I’ve come to the conclusion that there are worse things than dying.
Can’t see the point in “retirement” and being a skinny 70 year old guy with dementia, living in a cardboard box, eating cat food.
Also can’t see the point in stretching out my life for a few months/years, at the cost of my whole net worth being appropriated by the health care industry.
I’ve done the “healthy diet” deal, as a part of a doctor monitored diet plan that cost about $5000 to lose 40 pounds.
Horrible food. The food sucks so bad, you lose weight because you can’t stand to eat it. Plain grilled chicken, and lots of low carb/high protein. Part of the plan was prescribing anti-depressants, because the food sucked so bad.
And you were trying to choke this stuff down 6-7 times a day. NOBODY with a “real job” has time for that.
What the docs don’t tell you is that eating this crap is mandatory from now on, otherwise you will gain the weight back in a heartbeat.
Just learn to be ok being hungry. After about a year, all that fatty, junky stuff will make you sick when you eat it, and you’re good to go.
^^ This… so true.
Fixer, can you tell me what diet that was? Are you still on it?
And antidepressents are known for causing weight gain!
FAOMs are damn expensive to keep alive.
More like “life support”.
Looks like we got ourselves a product liability suit similar to tobacco. All those food processors and purveyors of Sugar, Corn Syrup, Fructose and other high carb and sugar food products better watch out.
Fitch warns about home prices in Texas.
http://wolfstreet.com/2016/04/06/mortgage-backed-securities-fitch-warns-risks-of-overvalued-home-prices-in-texas/
Dallas, TX Housing Prices Crater 17% YoY
http://www.zillow.com/bluffview-dallas-tx/home-values/
fitch is catching on
a little late
The expression dead in the water is synonymous with the word homeownership.
Factoring in everything, the real costs of “homeownership” are always 50-150% higher than a borrower’s initial calculations.
Howmuchamonth math doesn’t work when you randomly add in an extra $1000 or $2500 several times a year.
Home ownership is for those with deep pockets and a penchant to spend, not MT pockets.
Henderson, NV Housing Market Caves; Prices Plunge 8% YoY
http://www.zillow.com/henderson-nv-89052/home-values/
For the Prof and for redmondjp, this is worth a re-post from yesterday:
If you think those rowhomes “from the 1 millions” are are ridiculous, it’s even worse. You get HALF that rowhome “from the 1 millions.”
——————–
Comment by Professor Bear
2016-04-05 11:02:09
The ridiculousness of San Francisco real estate, summed up in one billboard
http://www.marketwatch.com/story/the-ridiculousness-of-san-francisco-real-estate-summed-up-in-one-billboard-2016-04-05
Comment by redmondjp
2016-04-05 15:16:16
Looking at the floorplan in that linked article, I have a question: On the same level as the master bedroom/bath, what is that space labeled as ‘NOT PART OF RESIDENCE’? Is that part of the outdoor deck?
——————-
These residences are STACKED TOWNHOMES. Two residential units — A1 and A2 — are contained in one four level rowhouse.
Floor plan: http://www.summit800.com/residences/residence-a1/
The floor plans for A1 and A2 interlock.
Entry level: Shared. A1 gets one parking space and a closet, A2 gets the other parking space and a closet.
Level 1: All of it belongs to A1.
Level 2: Shared and interlocked. Half is A1’s the other half is A2’s. The half that’s not yours is NOT PART OF RESIDENCE.
Level 3: All of it belongs to A2.
There’s a trade-off for A2. The master suite has the best balcony but you have to climb three flights of stairs to get to it.
There are several developments of this type on home near the DC boonies.
Donk,
You’ve discovered the reason for this.
US Housing Demand Plummets To 20 Year Low
http://1.bp.blogspot.com/-0q8fIAsczFk/VUANHEhSbnI/AAAAAAAAjRs/oANwXOUviGw/s1600/MBAApr292015.PNG
There are a lot of these type of places here in Northern Virginia. It looks like a row of townhouses that are larger than normal, but really each vertical strip is two units. More money extraction per square foot of land!
There’s plenty of excess, empty and defaulted housing inventory all over the country.
Ethan:
I was just this last weekend in NoVA visiting my daughter - we drove around Fairfax, Alexandria, and Arlington - the thing that got me was two fold - 1. the construction of high rise apts there is something I have never seen in my lifetime. 2. seemed very few for sale signs on SFR’s were evident.
What gives?
Here’s 2000 shacks in Fairfax alone.
http://realtor.com/realestateandhomes-search/Fairfax_VA?ncs=2000286
Are you sure?
Not so sure - that is why I asked.
The areas that we drove around in - also McClean - just seemed like little was going on excpeting the tower cranes building apts all over the place.
We were at Gravely Point - over by DCA watching the planes land and I noticed across the great Patomac - in the district 25 - count ‘em - 25 tower cranes lifting concrete and steel all in large apt. complexes. Man o man - the epicenter of non -owner living.
With 25 million excess, empty and defaulted houses and growing by the day, I’m sure there are a few houses to go around in DC area.
Smells like a smelly Mel watts loan
Interesting! I haven’t noticed the tower cranes but I don’t get to the city areas that often (I live about 16 miles from the city so it’s mostly suburbs.) There are new apartments going up along with those condo-townhouse-whatevers. I didn’t know there was that much rental inventory being added but I welcome it! Alexandria and Arlington are a bit more trendy than where I live. Where I work it’s still trees and green fields, and huge datacenters. And so many more data centers going in it’s nuts. But once up and running given the size and amount of stuff in the facilities there aren’t that many humans around.
THANKS Oxide!
Holy cow - I couldn’t have even guessed there was two units in one in a million years, although having four stories seemed a bit strange (now it makes sense).
Right down the street from me they put in a development with a couple dozen of these skinny homes but they are all single units - three stories with tiny stairwells connecting the floors.
So this type of housing is only good for young, healthy and preferably childless people (having baby gates at all of the stairwells, what a pain).
Personally I think the BIG mistake in building too much of this type housing is not thinking ahead, as to when somebody blows out their knee while skiing, or just gets older and can’t navigate all of the stairs several times daily. An elevator is in order. But with current state laws regarding inspections, certifications, etc. this is too expensive to even consider.
Which makes my single-level rambler with only one step at the garage entry and two steps at the front porch (which could be easily reduced to one or zero with a bit of landscaping and a new walkway) probably more valuable to older buyers.
Stair lifts are cheap.
But they don’t fit around the corners of the teensy-tiny landings in the narrow stairways.
They fit any IBC compliant residential structure including those in the development.
Yikes! and I’d guess a few hundred a month for HOA fees too. So just some rough calculations….$200K down, mortgage would be about $4000/mo, property taxes about $1200/mo, insurance and HOA added would take the total up to about $6000/mo to live in a duplex…and a good bit more than that if the down payment was less than 20%
With those kind of numbers this place is more like a coffin!
I hear a bell ringing.
Los Angeles, CA Real Estate and Homes for Sale-18,810 Homes
http://realtor.com/realestateandhomes-search/Los-Angeles_CA/radius-10
Los Angeles, CA Price Reduced Homes for Sale-4,399 properties found
http://realtor.com/realestateandhomes-search/Los-Angeles_CA/shw-pr/radius-10
*23% of all LA area sellers slashed their price at least once
No water, earthquakes, and now no electricity. Sounds like paradise on earth.
Hehe… and the babies come with the scenery.
That dog won’t climb
http://imgur.com/GWUwijt
But how did you get the dog up there??
Who is holding the camera?
Jupiter, FL Housing Market Implodes; Prices Crater 12% YoY
http://www.zillow.com/jupiter-fl/home-values/
There is a massive “Global Housing Bubble”.
Housing Bubble
Housing Bubble
Housing Bubble
Housing Bubble
Go ahead. Google “housing bubble” without the quotes.
Ben:
This….
http://www.zerohedge.com/news/2016-04-05/rotschild-admits-america-biggest-tax-haven-world-obama-slams-tax-evasion
ED ZACHARY! And that right there is all anyone needs to know about the massive Panama Papers data dump. I expected to find people all a-twitter about it, and thankfully the crowd here is too smart for that crap. Bwahahahaha! What a distraction. Brought to you by Jabba the Hutt and his merry band of Orcs.
http://maine.craigslist.org/rew/5517341650.html
Poor, poor millennials. Overpaid for a tiny house and now have no place to park it. I’m sure the KOA will take you in for $50/night. For what you lost on yer tiny house and overnight fees you should have bought a trendy loft…. LOL!!
BTW…where do they expect the black and grey water to go!?!?!?
Overpaid for a tiny house and now have no place to park it. I’m sure the KOA will take you in for $50/night.
Would have been smarter to buy a used mini-van with dark-tinted windows—cause you can park those in broad daylight almost anywhere and go unnoticed. That would definitely be less comfy than her tiny house, though. For about what she built that for (and a lot less, if she bought it already built), an older Sprinter has a ton of room, and looks like the ubiquitous work-van…
Mills should create their own “tiny house parks”.
I don’t see why they can’t just hook up in a regular trailer park.
She wants a better neighborhood in which to live simply.
She wants to tap into the landowners water and electric. Can’t she just get a solar panel and an outhouse?
She’s pretty cute. She’ll get a lot of offers from pervs. It does make you wonder why she doesn’t have any friends with available backyards.
Panama red had a moniker back in my yute - and now this…. me thinks with the timing of Otrauma and his minions on the Panama Papers - there is something rotting from the head down…..
http://wwwtheworldandeverythinginit.blogspot.com/2016/04/panama-red.html
Massachusetts Housing Prices Fall 9% YoY Statewide
http://www.zillow.com/ma/home-values/
Back in the day, columnist Mike Royko proposed replacing Chicago’s bucolic motto, “Urbs in Horto” (City in a Garden), with the more earthy and fitting “Ubi est mea?” (Where’s mine?).
Gawd, what a hole. I’m so glad you’re going to GTFO of there.
Always looked forward to reading Royko’s column as a kid. Great writer.
My CU has below on the banner at login, where there is hardly EVER a special notice. This is the FIRST time I have ever seen this:
“A reminder for members with mortgage loans: Past Due reminders are based on the due date (the first of the month). We provide 15 extra days, and do not consider your mortgage loan late unless it remains unpaid after the 15th.”
Headquartered in Mendon, NY.
http://picpaste.com/pfcu-VQP4lQX5.jpg
You won’t be late. Have them take it out of your account automatically every month. 360 months to go. That’s a lot of checks.
“You won’t be late.”
I’m never late.
“That’s a lot of checks.”
I’ve written 168 rent checks since walking across the stage in 2000. Hey wait, I’ll be saving a stamp a month!
Yes. Stamps are half a buck. Be frugal.
I suppose I’ve written several thousand checks. It is a thing of the past. Click to send now.
This is standard on all loans I have seen in the last few years. I like it because I pay the loans on the 7th, giving me time to deposit rents into the account. Very convenient.
I understand it’s standard. It’s never been a banner feature in the 20+ years I’ve been with this CU.
How nice of them - and they don’t charge you for the 15 days of interest?
Great point. I wonder if the interest accrues daily????
Remember Jingle_Fraud…… Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.
Winter Springs, FL Housing Prices Crater 12% YoY
http://www.zillow.com/winter-springs-fl/home-values/
‘She wanted to stop throwing away money on rent and invest in a home’
From the Nigeria article:
‘Adediji, who is a Principal Partner at Messrs Bode Adedeji and Co. a real estate consulting firm on Victoria Island, Lagos, blamed the rising number of unoccupied buildings on the absence of the middle class in Nigeria. According to him, the luxury apartments were not built for the low-income earners, but for the upper middle-income group, which the economy does not support at the moment.’
‘He said: “Therefore, once the economy does not support the growth of that income bracket, then, we are only building speculatively.”
Interesting, because that’s what’s happening all over the world. BTW, this was the most expensive housing market on the globe a year and a half ago.
Because everyone wants to live in Lagos.
The poorest places have the highest house prices. It’s insane.
Right? What came first. The fraud driven housing prices or the poverty?
It’s probably another effect of the oil price collapse.
Irrelevant.
San Francisco, CA Housing Market Craters; Prices Plunge 7% YoY As Mortgage Delinquencies Balloon
http://www.zillow.com/san-francisco-ca/home-values/
HA, you’re too funny. Prices up 11% last year. Zillow calls the market “Hot”. HA! Talk to Jake, maybe he can help you……Crater…HA!
Prices down 7% and falling Jingle_Fraud. Don’t know how to help you there.
The world’s biggest pharmaceutical deal was called off on Wednesday when Pfizer and Allergan responded to changes in the US tax regime by abandoning their $160bn merger.
In what will be regarded as a victory for the US president, Barack Obama, in his drive to clamp down on tax avoiding deals, Pfizer – best known for Viagra and its cholesterol pill Lipitor – will now pay the Botox producer Allergan $150m for pulling out of the deal.
The transaction was first announced in November and is the second major deal Pfizer has attempted that has collapsed in two years after it failed to clinch a £70bn takeover of the British drugmaker AstraZeneca in 2014. There was immediate speculation that Pfizer might again turn its attentions to a UK-listed company, with shares in Shire and AstraZeneca each rising by about 3% to lead the FTSE 100 higher.
http://www.theguardian.com/business/2016/apr/06/us-tax-clampdown-sinks-pfizers-record-160bn-deal-with-allergan
Oh Boo-Hoo, big, bad Obama stopped the poor handful of big-wigs who were going to cash in with this deal and lay off 1,000’s of redundant serfs.
My heart bleeds for these poor M&A brokers.
Barack HUSSSSSSSAIN Obama!
Ben:
This…..for the file……
https://confoundedinterest23.wordpress.com/2016/04/04/clintons-national-homeownership-strategy-part-deux-the-obama-edition/
and this…..
https://confoundedinterest23.wordpress.com/2016/04/06/increase-in-home-renovation-plans-suggests-people-unwilling-to-move-despite-low-mortgage-rates/
This Old Housing Bubble
http://realestateconsulting.com/extraordinary-development-and-compliance-costs-stifle-new-home-construction/
Here is an interesting laundry list of new costs in various parts of the country for new housing construction.
Another attempt rental_fraud?
None of that gets you anywhere near double or more construction costs of $50/sq ft(lot labor materials and profit)
Check your calendar. $50 psf is behind us. The last number I saw was between $65 and $70psf hard costs.
Check your calculator.
You’re just guessing anymore so whatever numbers you’re seeing are merely imaginary.
That’s pretty interesting Rental. What part of construction costs is skyrocketing these days?
RW, you are spot on with this one.
HA, Jake, Mafia is soooo behind the times. Here is a permit fee schedule for Lincoln, CA in the Sierra foothills above Sacramento.
…up to $85,000 before you lift a shovel!
http://postimg.org/image/lgzaq3ygf/
$28/SF for a 3,000 SF house….
Uh oh…. Got caught misrepresenting the truth again.
http://lincolnca.gov/home/showdocument?id=1463
The “fees” that Jingle_Fraud is referring to has nothing to do with a building permit. They are fees for actual work. In other words, you’re not paying a contractor to do the work, you’re paying the municipality to do what you would have paid the contractor. STRIKE 1
And if you’re willing to look at the fine print, the municipality will waive the fee entirely if you opt to pay the contractor to do the work. These are not “fees”. STRIKE 2
So you see….. most here who claim these wild numbers really have no idea and there is a reason why……. They never built a thing in their life. STRIKE 3
You are ridiculous. What are you going to do, go dig a couple of graves instead of paying the “cemetery fee”? HA, HA, HA!
You’re backpedalling Jingle_Fraud.
lol@Jingle_Fraud
http://picpaste.com/pics/0301312679472b242c12c9f6b1562c22.1459970078.png
Funny how the mind works. If you can’t afford something or simply don’t want it, then it’s too expensive. If you go ahead and borrow up to your eyeballs for something then it must be worth more than you paid for it.
Comment by Jake
2016-04-06 12:15:21
You’re backpedalling Jingle_Fraud.
lol@Jingle_Fraud
That pic was a mic drop moment in this latest round. lol
Glendale, CA Housing Market Caves; Prices Plunge 6% YoY As Housing Inventory Balloons Statewide
http://www.zillow.com/glendale-ca/home-values/
The spring selling season in KC is ON!
On April 1, the “For Sale” signs sprouted like dandelions. I drive by this one occasionally.
http://tinyurl.com/gmx79lz
If I buy again, it will be something similar to this (preferably, prior to “flipperization” and the corresponding markups). Get a load of the giant refrigerator. Granite and “hardwood” floors all around. The lot is big enough for a detached shop/garage.
This house is less than 10 minutes from the downtown loop. Locals consist of newly marrieds without kids, and older retirees.
The $400K McMansions in KC mentioned the other day are all in south Johnson County/Blue Valley/Overland Park/Olathe
That shack can’t be rented for less than $1600/month?
Probably. I don’t like renting houses. Most of the landlords want you to do the lawnmowing and landscaping, I can barely get motivated to do that when I own the property, much less do it for somebody else’s.
What’s going to drive my future purchase (if any) will be the availability of a detached shop/garage, or a lot big enough to build one.
I’m currently in the situation where I’ve cornered a little spot in the hangar for my workspace. Besides being limited in what I can do (no spray painting). I’ve found that it’s almost impossible to force myself to come down here again once I’ve gone home for the day.
My plan when I used to have a house was……work, go home around 5-6pm, dinner, kick back for an 45 min-1 hour, then go to the garage and tinker with projects until 10pm. Can’t really do that anymore.
I can’t help but think that I can buy some property away from town, and put up a new build duplicate of this house for a lot less than $139K.
yikes!! Taxes: $2,201 Red state?
I just got this listing in an email:
http://www.zillow.com/homedetails/31418-Broad-Beach-Rd-Malibu-CA-90265/89146573_zpid/
04/05/16 Price change $15,950,000+0.3% $3,512 Westside Estat…
04/05/16 Listed for sale $15,900,000 $3,501 Westside Estat…
05/30/15 Listing removed $15,900,000 $3,501 –
05/12/15 Listed for sale $15,900,000-9.1% $3,501 Agent
01/28/15 Listing removed $17,500,000 $3,853 Brentwood Real…
01/01/15 Price change $17,500,000+10.1% $3,853 BRENTWOOD REAL…
06/10/14 Price change $15,900,000-9.1% $3,501 John Aaroe Gro…
06/09/14 Listed for sale $17,500,000 $3,853 Brentwood Real…
01/13/14 Listing removed $17,500,000 $3,853 BRENTWOOD REAL…
11/25/13 Listed for sale $17,500,000 $3,853 BRENTWOOD REAL…
06/22/13 Listed for sale $17,500,000 $3,853 BRENTWOOD REAL…
09/17/11 Listing removed $17,500,000 $3,853 –
03/24/11 Listed for sale $17,500,000+75.0% $3,853 Agent
02/05/08 Sold $10,000,000+135% $2,202
Public Record
02/18/04 Sold $4,250,040 $935
Some genius got the idea that adding 50k would move this dump.
That’s a tripled decked three side shanty if I ever saw one.
3…2….1…..all cash from a Chinese “investor.”
cheaper to buy us then invade us.
Who is “us” kiddo?
Only 90 degrees today, then rain the rest of the week.
‘The Monetary Policy Committee (MPC) of the Thai central bank is closely monitoring the country’s property sector citing weak demand, as the sluggish economy and delays in infrastructure spending continue to dampen buyer enthusiasm.’
‘In its latest policy report, the committee said high outstanding supply in the property sector is a risk that warrants close monitoring as it has caused demand for property to decline significantly.’
‘As Thai households start to pile up more debts, financial institutions are beginning to tighten up on loan requirements, causing more condominiums to remain unsold, particularly those valued above 1 million baht.’
https://ethailand.com/business-news/mpc-demand-for-property-in-thailand-is-on-the-decline/2163/
I think theres a whole lot of mismanagement at the GSE’s. They’re a large group of know-nothings throwing around vast sums of tax payer money because they’ve got everyone bamboozled.
Merle Haggard, country music legend, dies at 79
CNN April 6, 2016
Merle Haggard, the grizzled country music legend whose songs, such as “Okie from Muskogee” and “Fightin’ Side of Me,” made him a voice for the workingman and the outsider, has died. He was 79.
Haggard died Wednesday, his birthday, of complications from pneumonia at his home in Northern California, his agent Lance Roberts told CNN.
Haggard recorded more than three dozen No. 1 country hits in a musical career that spanned six decades, from the 1960s into the 2010s. He overcame an early life of petty crime and a prison term in San Quentin to develop a rugged, outlaw image that helped sell millions of records.
And just when you thought the rage was topped out, Lola is wheeled out.
Hey Lola.
My German teacher in high school made the mistake of asking me (in German) where I was born.
“Ich bin ein Okie von Muskogee!”
I was lucky enough to see him live twice, both shows were excellent. His Bob Wills tribute album is my favorite by far and it triggered a Western Swing revival, excellent playing of some complex music with a strong jazz influence and several of the original Texas Playboys are featured.
https://en.wikipedia.org/wiki/A_Tribute_to_the_Best_Damn_Fiddle_Player_in_the_World_%28or,_My_Salute_to_Bob_Wills%29
Country music is more autotuned that the pop strumpets now, and features equally moronic lyrics.
Sad to see another of the outlaws go.
Lola a country music fan?
For some reason I don’t see Lola hangin’ out with Donk in the local honky tonk.
One of my favorites from Willy Nelson and Merle Haggard: Pauncho & Lefty, written by the late, great Townes Van Zandt.
https://www.youtube.com/watch?v=CvdmxszsDM8
With headphones. RIP. MH
https://www.youtube.com/watch?v=0E-PZlIKwwA
The DEA will decide whether to change course on marijuana by July.
lost of gov jobs will be lost.
how cheap is it in CO? it grows like a weed, ya know.
Danbury, CT Housing Market Implodes; Prices Crater 12% YoY On Collapsing Housing Demand
http://www.movoto.com/danbury-ct/market-trends/
Yellen the Felon and her gang of counterfeiters and racketeers at the Fed are jawboning about a mythical rate rise, again - knowing full well that to do so would implode our asset bubbles and Ponzi markets.
http://www.telegraph.co.uk/business/2016/04/06/federal-reserve-alerts-us-to-chance-of-imminent-interest-rate-ri/
Globalist one percenters don’t much seem to care for living in the messes they created.
http://www.unz.com/akarlin/millionaires-flee/
More millionaires fleeing corrupt Democrat-maladministered cesspools.
http://www.zerohedge.com/news/2016-04-06/millionaires-are-fleeing-chicago-record-numbers
They’re moving to San Francisco and Seattle.
What will be the tipping point at which the Free Sh*t Army and the Democrat enablers crush the producers and taxpayers in this country? A welfare queen poster child gloats at how she games the system.
https://www.youtube.com/watch?v=ZXtd-OG62HY
What will be the tipping point at which the Free Sh*t Army and the Democrat enablers crush the producers and taxpayers in this country?
How could the freesh!tt3ers crush the “producers” when the .01% own 70% of the wealth?
Can you show me the math?
You don’t understand math Lola.
The .1% are screwing over the producers worse than anyone.
AIG, Alcoa, Boeing, GM, BofA all gloat too. billions and gloats…
Let’s not forget about the other welfare queens, multi-billion dollar corporations: https://youtu.be/I01-9yujhCA
The banksters and globalists have always been able to count on the sheeple to vote in their political puppets who establish institutions like the EU to take away national sovereignty and remove the people’s say in whether or not they choose to bail out banks who engage in reckless or criminal behavior. But now, not a minute too soon, at least some of the sheeple of the Eurozone are starting to wake up. That could constrain their “leaders” from putting them on the hook for the gambling debts of the banksters, and hasten the inevitable financial reckoning day where the fraud and make-believe valuations can finally get flushed from our financial system.
http://www.marketwatch.com/story/dutch-voters-rebuff-eu-reject-ukraine-trade-pact-2016-04-06
IV
Lou Reed — Vicious:
https://www.youtube.com/watch?v=sM9JG-oQm1Y
Professor Calls For “Whiteness” to be “Abolished”
“We need to….demolish the whole concept”
Paul Joseph Watson - April 6, 2016
Portland Community College history professor James Harrison called for
“whiteness” to be “abolished” during a talk he gave for the university’s ‘Whiteness History Month’ program.
You Can’t Have Peace If Whiteness Exists - YouTube
http://www.youtube.com/watch?v=7Bfegy-AX_w - 200k - Cached - Similar pages
2 days ago
“White people, share a whole lot of things, even if they don’t interact, and one thing that they share is whiteness, or white privilege,” states Harrison.
As Christopher Menahan points out, Harrison’s assertion that even poor white people are privileged is pretty rich given that he is a “college professor living off taxpayer money”.
Even POOR WHITE People Have “Privilege” - YouTube
http://www.youtube.com/watch?v=1OdHMeQAEDA - 180k - Cached - Similar
pages
2 days ago …
“Can we live in a world without whiteness?” he asks the audience.
“My answer is yes, we can, because it’s happened before, and it all revolves around individuals taking small steps, to dismantle, and demolish the whole concept.”
We Need To “Dismantle Whiteness”, Promote Multiculturalism & Anti …
http://www.youtube.com/watch?v=iSBoiml6oDg - 200k - Cached - Similar pages
1 day ago .
As Christopher Menahan points out, Harrison’s assertion that even poor white people are privileged is pretty rich given that he is a “college professor living off taxpayer money”.
You may disagree with the sentiment, but there’s nothing about it that’s
“pretty rich”. Also, there’s probably not much money to be made working at a community college. And let’s not suddenly that his position is not funded only by taxes. The college must also charge tuition.
Cue moar BoJ stimulus in 3-2-1….
http://www.marketwatch.com/investing/Currency/USDJPY?countrycode=US
Evergreen, CO Housing Market Craters; Prices Plummet 8% YoY
http://www.zillow.com/evergreen-co/home-values/
https://www.reddit.com/r/RealEstate/comments/4dm2hv/insane_condo_questionnaire_fee/