July 20, 2016

A Clear Picture As To Why Sales And Prices Are Hurting

The Real Deal reports from Florida. “Miami’s housing market is now facing what amounts to a giant reality check, according to the newly released Elliman reports, as its overheated pace of sales falls like a ton of bricks to more moderate — albeit less sexy — levels. While the market as a whole is downshifting into a more sustainable place, the luxury sector is starting to get volatile. On the coastal mainland, prices for both condos and houses in the luxe sector — defined as the upper 10 percent of all sales — fell significantly. The median sales price for a luxury condo plummeted 16.7 percent to $1 million per unit. Single-family home prices in the upper echelon also dropped 4.9 percent to $1.25 million. Sales were also down on both fronts. Luxury condos saw 231 sales, down 13 percent year-over-year, while single-family homes saw 211 sales, down 10 percent.”

“One look at the inventory numbers paints a clear picture as to why sales and prices are hurting: There were 3,103 condos of the million-dollar variety actively for sale during the second quarter, up a whopping 78 percent year-over-year. Houses fared a bit better with 1,124 homes on the market, marking an inventory increase of 28 percent. ‘Inventories are clearly rising and rising. The increases are much more pronounced as you move up in price,’ said Jonathan Miller, president and CEO of Miller Samuel Inc., based in New York. ‘We’re seeing the same thing in New York, where the housing market is generally softer on top than anywhere else.’”

Reuters on New York. “Overall sales plunged by about half and home prices fell sharply in the second quarter in the toniest enclaves of the Hamptons, New York’s weekend haunt for the wealthy. Total sales volume in East Hampton fell 53 percent from a year ago to $44.7 million as the median sale price fell 54 percent to $2.38 million, according to realtor Town & Country Real Estate. In Southampton, total sales fell 48 percent from the second quarter of 2015 to $45.3 million, with the median sale price falling 21 percent to $1.65 million, data showed.”

“Only 12 homes were sold in East Hampton and 17 in larger Southampton, due to a lack of inventory and because sales typically lag when the stock market underperforms, said Judi Desiderio, chief executive at Town & Country. ‘This is just a shift of the needle that I expected because 2014 was a high cycle for the high end,’” said Desiderio, who says luxury home sales in the Hamptons run in seven-year cycles.”

From Multi-Housing News. “‘These are heady times for commercial real estate,’ began UCLA Anderson Forecast senior economist David Shulman in his latest monthly letter about real estate. He ticked off the reasons: cheap money, low levels of new construction (except for apartments), and only modestly improving demand. As a result, CRE values have more than doubled from their financial-crisis lows of 2009. Heady indeed. On the other hand, hints of a slowdown loom.”

“As for apartments, the darling of the recovery, the sector might soon prove to be top-heavy with high-end units. ‘Apartment owners may soon discover there might not be enough tenants to support $3,500-a-month rent for one-bedroom units,’ Shulman said. ‘The apartment business now appears to be in transition from great to good.’”

From Houston Public Media in Texas. “Houston is still one of the fast growing cities in America. To keep pace, real estate developers have been building a lot of new luxury apartments. However, as the economy has slowed, it has begun to affect the rental market. Luxury – or Class A – apartments have been most affected by the economic downturn. Nadia Balint with Rent Café – a national apartment listing service and research firm, says it’s simple supply and demand. Almost 90 percent of the 15,000 apartments built last year, she says, were considered Class A units. This supply, along with a suffering energy sector are giving renters more buying power.”

“‘With the drop in energy prices we saw an immediate and sharp decline in rent growth, beginning in May last year. And this, in combination with the large supply that’s on the market right now, this is causing a visible slowdown in rent prices,’ said Balint. ‘Considering that we’re going to have such a huge supply of new apartments on the market that might drag down even the low end apartment prices,’ she says.”

“According to the Greater Houston Partnership, developers are scheduled to deliver 25,000 new apartments by the end of 2017.”

KRON 4 in California. “The cost of living in the Bay Area is one of the highest across the country. But a new report out shows those prices are dropping. At least three local cities made the top 10 list because of how much rent has dropped. San Francisco actually made the list, as well as Oakland and San Jose. A new report by ABODO shows rent has decreased in the last month. Oakland had the highest percentage of the three cities that made the list, coming in at 11 percent. The average rent in June was about $3,813 in Oakland. In July, it dropped to $3,400.”

“In San Jose, rent went down 8 percent in the last month. And in San Francisco, it decreased from just over $3,900 to $3,700. But in the last year, some people have seen drastic increases in rent. Chris Lee’s landlord raised her rent more than 40 percent from $3,200 to $4,500 at the beginning of the year. Although her apartment is close to work, the cost is starting to take a toll. ‘I would love to stay, but I’m also thinking of moving out of the city,’ Lee said.”

From Las Vegas Now in Nevada. “From fires to vandalism and also safety concerns, vacant properties in the Las Vegas valley continue to house squatters and the problems that come with them. Take a drive around the valley and you will likely spot a vacant home as the area continues to recover from the housing market bust. Those homes are easy targets for people looking for shelter. ‘Squatters could move in,’ said Vicki Ozuna, a code enforcement supervisor for the city of Las Vegas. “A lot of the time, they’ll steal power from the neighboring properties.’”

“So far this year, Metro has responded to more than 2,700 squatter calls for service which is up about 32 percent from 2015. ‘It’s surprising because everybody thinks that the recession is over but we still have a large inventory of vacant properties,’ Ozuna said.”




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217 Comments »

Comment by Ben Jones
2016-07-20 02:16:15

‘On the coastal mainland, prices for both condos and houses in the luxe sector — defined as the upper 10 percent of all sales — fell significantly. The median sales price for a luxury condo plummeted 16.7 percent to $1 million per unit.’

‘Total sales volume in East Hampton fell 53 percent from a year ago to $44.7 million as the median sale price fell 54 percent to $2.38 million, according to realtor Town & Country Real Estate. In Southampton, total sales fell 48 percent from the second quarter of 2015 to $45.3 million, with the median sale price falling 21 percent to $1.65 million’

Is that a lot?

‘Luxury condos saw 231 sales, down 13 percent year-over-year…There were 3,103 condos of the million-dollar variety actively for sale during the second quarter, up a whopping 78 percent year-over-year’

Oh dear.

Comment by octal77
2016-07-20 10:31:49

Could it be that these folks are living above their means?

Wait a minute… It’s the Hamptons.. Not possible.. These people are so *much* better than you or I.

Comment by MightyMike
2016-07-20 10:43:33

Well if middle class people think that they’re better than the homeless, then the rich must be better than the middle class.

 
 
 
Comment by Ben Jones
2016-07-20 02:25:07

‘FHA loans are one of the most popular mortgage financing products for home buyers these days. They’re especially popular among first-time buyers, who often lack the funds for a large down payment. (FHA allows for a down payment as low as 3.5%.) But with home prices rising steadily across the country, some housing markets are becoming too expensive for a Federal Housing Administration-insured home loan.’

‘In 2016, FHA loan limits range from $271,050 to $625,500, depending on location. But in some U.S. cities, average and median home prices have risen well above the loan limits for the surrounding county. In such areas, borrowers could have a harder time finding a suitable property within the FHA’s lending limits.’

‘According to HUD, the Federal Housing Administration loan limits are based on the “median sale price value for each jurisdiction.” In some cases, HUD will increase the limit for a particular county from one year to the next, in response to rapidly rising home values. They did this for 188 counties from 2015 to 2016′

Yeah, house prices found a natural bottom in 2009.

‘HUD will increase the limit for a particular county from one year to the next, in response to rapidly rising home values’

 
Comment by Ben Jones
2016-07-20 02:29:12

‘Senior housing deals took a dramatic dip during the second quarter of 2016 compared to the past few years, according to recent data from the National Investment Center for Seniors Housing & care (NIC).’

‘During the second quarter of 2016, only 76 deals closed, totaling $1.6 billion, including $1 billion in seniors housing and $600,000 in nursing care. It was the first quarter to dip below 100 seniors housing deals since the second quarter of 2013, according to Beth Burnham Mace, NIC’s chief economist. The number of deals represented a 61% drop from the first quarter of 2016 when deals totaled $4.3 billion, and an 81% decline from the same time frame in 2015 when volume came in at $8.7 billion.’

“We saw a pretty significant slowdown in transactions volume,” Mace told Senior Housing News. “That reflects a slowdown in activity by the [real estate investment trusts] (REITs) and private buyers as well as institutions. Just overall slow transaction volume.”

‘The drop in M&A activity is in stark contrast to the record-setting number of deals in 2015. Predictions from earlier this year that the industry was already past “peak pricing” in terms of acquisitions rang true during the second quarter of 2016, as the pricing basis “retreated a little bit,” according to Mace. Seniors housing units sold for $163,000 during the quarter on a per unit basis, down from $173,000 per unit a year ago, according to Mace.’

‘Throughout 2016, senior housing REITs have largely taken a backseat when it comes to M&A activity, in part due to a higher cost of capital following an interest rate hike at the end of 2015. Institutions and private equity seemed to follow suit throughout 2016. REITs may also be taking stock of their assets following a surge of transactions over the past few years, according to Mace.’

“Some of [the slowdown] is that the big REITs are digesting the volume that they’ve done over the years,” Mace said.’

‘Overall, the seniors housing market reached a record high rent growth rate of 3.2% during the second quarter of the year, according to NIC Map data. Many senior living companies have stressed pushing “aggressive” rent hikes in recent earnings calls, including Brookdale, the nation’s largest senior living provider.’

Squeeze those old people. Chase that yield. Then wonder why you don’t have any customers.

 
Comment by Ben Jones
2016-07-20 02:40:11

‘Chris Lee’s landlord raised her rent more than 40 percent from $3,200 to $4,500 at the beginning of the year….’I’m also thinking of moving out of the city’

And these “business” people will wonder why their customers left.

‘San Francisco prices on the site have been dipping, including a huge five percent drop just in the last month. Oakland dipped even more on Abodo, a whopping 11 percent.’

Comment by Ben Jones
2016-07-20 07:37:09

‘Netflix’s price increases scared people away from the streaming service, and the volume of unsubscribes surprised Jim Cramer.’

“Something happened here where people decided that content wasn’t worth paying for,” Cramer said, a day after the company reported that it missed its subscriber goal in the second quarter. “I would never in a million years say I’m not paying the additional couple [of dollars].”

I watched a high end restaurant documentary the other day. One of these charged 250 euros per plate and the chef complained that “no one was making any money” compared to the costs and effort. They do stuff like using liquid nitrogen to turn out a golf ball sized desert.

How about a little bowl of home-made ice cream? There’s nothing better than home-made ice cream is there?

Comment by dandroidz
2016-07-20 08:33:35

I laugh when I see those high end restaurants bring out a sliver of a cupcake with a pretentious drizzle of raspberry smudged on the plate and charge $50.Those $200-$300 per plate restaurants are ridiculous. If I was wealthy enough to frequent those types of places I would just bring a private chef to my home every once and while.

Comment by Ben Jones
2016-07-20 08:47:01

That one in Norway cracks me up. They go out to pick berries and lichen from the side of the road. The cameras record their every move like it’s a classic masterpiece in the making.

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Comment by dandroidz
2016-07-20 09:32:58

I used to go out to my backyard and neighborhood as a kid to the berry bushes, pick em, wash em, dust a little sugar…they were free. I should have known I could have advertised “fresh picked local sourced berries” and charged $25/lb. D’Oh!!

 
Comment by CEO Of The Couch
2016-07-20 10:17:23

Were there grass fed chickens too?

 
 
Comment by BearCat
2016-07-20 08:47:21

So Manresa in Los Gatos is a bargain, at only $235 per person for dinner (add $198 if you want booze). And you don’t get to choose what you eat - the chef does.

http://www.manresarestaurant.com/menu/

I guess those Euro 250 / plate prices make The French Laundry look like a bargain.

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Comment by Ben Jones
2016-07-20 08:49:45

The photo looks like back yard wild flowers with dirt thrown on it.

 
Comment by Rental Watch
2016-07-20 09:00:09

I ate at Manresa once after hearing about it for many years, and stumbling upon an open reservation at a time that was coincidental with a major life milestone for my wife and myself.

So I splurged.

Despite the food “theme” not being my first choice, we had a fantastic time, and I enjoyed the meal.

I’m usually the guy who would settle for a $8, well-cooked burger rather than a $50 steak, so Manresa was definitely a treat, but not something to be repeated often.

I wouldn’t say that I enjoyed the meal enough to go back every year, but I might go back in 5 or 10 years, assuming they are still around and highly regarded.

 
 
Comment by CEO Of The Couch
2016-07-20 08:57:10

“charge $50.Those $200-$300 per plate restaurants”

That’s why they all fail after 6 months. Just more YellenBucks looking for a place to die……. no different than housing.

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Comment by Ben Jones
2016-07-20 09:11:09

Yeah, they had a side story with these consultants sitting around with a guy planning to open one. They told him he needed $22,000 a night to break even. That’s 7 days a week. Better hope it doesn’t snow or something.

 
 
 
Comment by Lurker
2016-07-20 10:04:30

Several years ago I cancelled my reservation at the French Laundry after I found out they had unpaid interns peeling their potatoes. How could anyone have an appetite for a $300 dinner made with the labor of unpaid drudges?

Apparently it’s common practice, though recent internship rulings may have changed this:
http://www.eater.com/2015/3/16/8210363/restaurant-stage-illegal-stagiaire-kitchen-intern

Comment by Rental Watch
2016-07-20 10:31:36

They have unpaid interns because there is only one French Laundry, and people are willing to do anything to get the experience of working there. Having “Intern, French Laundry” on your resume is probably NOT worthless for a young person’s career in food service, which is why they are willing to put in time for free to get it.

Having “Intern, McDonalds #487″, on the other hand, probably is worthless.

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Comment by MightyMike
2016-07-20 10:47:52

Once employers find out that a person learned to peel potatoes there, he’ll have a competitive edge over those who learned how to peel elsewhere.

 
Comment by Ben Jones
2016-07-20 11:13:13

Yeah, “my career in potato peeling started at Che’ Fanci!”

Let’s get down to the issue here: “Boss, we can get people to work for free.”

“Great, I’m a greedy bastard with a 6 month wait for this frozen nitrogen slop, so I’ll take everything I can get.”

The greedy bastard is usually the right answer.

 
Comment by Rental Watch
2016-07-20 11:56:18

Do you honestly think that the interns are only there to peel potatoes?

 
Comment by Ben Jones
2016-07-20 12:02:43

Oh no. I’ve done a little work in the “food service” biz. I can tell you these potato peelers will be mopping up the floors long after the greedy bastard has taken off his apron and kicked back a couple bottles of expensive wine.

 
 
 
 
 
Comment by phony scandals
2016-07-20 07:47:02

‘Chris Lee’s landlord raised her rent more than 40 percent from $3,200 to $4,500 at the beginning of the year”

A rent increase of $15,600 after tax a year and is only thinking of moving out of the city?

She must do pretty well.

Comment by Ben Jones
2016-07-20 08:16:19

‘She must do pretty well’

There’s a fatalism in California media, especially this area, where expensive is some right of passage. Like financial mutilation. But just a couple weeks ago I posted an article with property managers (for condo owners - future FB’s) bemoaning that tenants were telling them what they would pay and they had to take it. There are tens of thousands of units on the way and they are already cutting prices.

Comment by Ben Jones
2016-07-20 08:35:35

‘Apartment owners may soon discover there might not be enough tenants to support $3,500-a-month rent for one-bedroom units,’ Shulman said. ‘The apartment business now appears to be in transition from great to good.’

UCLA Anderson: always a day late and a dollar short.

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Comment by dandroidz
2016-07-20 09:43:36

$3,500- $4,000/mo is just insane. I remember my corporate apt in SF/south beach/King St, I received the mortgage for the actual owner in my mail and opened it. It was $4300/mo for a 1 bdr 800 sq ft apartment. I laughed, because my work was paying my nightly fee for the stay.

 
 
 
Comment by leydan
2016-07-20 10:26:31

The amount her rent went up exceeds my total cost of housing.

I can’t help but think in terms of what else I could do with the money I spend on housing which would make me even more happy than spending it on a place to live. I’ve never been very creative when it comes to spending money, so I normally just save it. But if my rent went up $1300/month and I had to spend the money, if nothing else I’d move someplace cheaper and lease a really nice car. Or two.

Comment by The Selfish Hoarder
2016-07-21 07:40:47

It depends on the perspective. She might get a huge annual income and such rent makes sense. Add the mobility factor to it and it is golden. There are certain parts of San Francisco that make it a world class city with everything you want. Such as the financial district and Marina district. Other areas make it appear a dreadful city.

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Comment by The Selfish Hoarder
2016-07-21 06:37:49

A 3% raise on a $200,000 annual income is $6,000, and she could be making that much. $50,000 per year on rent is one fifth. Income taxes would take maybe another $80,000. Retirement savings if she is a W2 and in Roths would grab another $30,000. Now she is left with $40,000 Then all the yuppie expenses such as parking fees, auto maintenance, sales taxes, bars, restaurants add up.

I spent maybe $5,000 per year on wine for several years, up to last year and know it is a frivolous expense. Lots of SF folks are more glued to their expensive lifestyle.

 
 
 
Comment by Apartment 401
2016-07-20 02:51:47

Warmist Warming Wednesday.

Earth Just Experienced The Hottest June Ever Recorded:

“Last month was the hottest June ever recorded, according to both NASA and the National Oceanic and Atmospheric Administration (NOAA). This marks the 14th month in a row that global heat records have been broken. It’s the longest streak of record-breaking temperatures since reporting began in 1880.

Global average temperatures in June were 0.9 degrees Celsius hotter than the average for the 20th century. These temps broke the previous record, set last year, by 0.02 degrees Celsius.

The planet is well on track to surpass 2015 as the hottest year ever recorded.”

http://www.huffingtonpost.com/entry/june-2016-hottest-month_us_578f07f9e4b0f180da639fdf?section=

And now back to your regularly scheduled Drudge Report links.

Comment by Combotechie
2016-07-20 05:08:37

“It’s the longest streak of record-breaking temperatures since reporting began in 1880.”

So why is that? Here’s a clue:

Wikipedia “Little Ice Age” …

“The Little Ice Age (LIA) was a period of cooling that occurred after the Medieval Warm Period (Medieval Climate Optimum). While it was not a true ice age, the term was introduced into the scientific literature by François E. Matthes in 1939. It has been conventionally defined as a period extending from the sixteenth to the nineteenth centuries, or alternatively, from about 1300 to about 1850, although climatologists and historians working with local records no longer expect to agree on either the start or end dates of this period, which varied according to local conditions.”

The Little Ice Age ended at about 1850. If the earth has been warming since 1850 then it would make sense for the temperatures today to be warmer than the temperatures that began to be reported since 1880.

Comment by Apartment 401
2016-07-20 05:25:54

Brony, it’s a narrative.

And remember, infinite growth is not possible in a finite ecosystem.

Comment by Professor Bear
2016-07-20 05:30:37

It’s all a narrative when you get down to it…a scripted one!

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Comment by Apartment 401
2016-07-20 06:24:00

The actual content of any given narrative is irrelevant.

What matters is that the narrative, once scripted, must be controlled.

Lose control of the narrative, and you lose everything…

 
Comment by Professor Bear
2016-07-20 08:49:04

“Lose control of the narrative, and you lose everything…”

That gets to why Melania’s speech was so damaging. Comedians had a hay day playing it on a split screen with Michelle Obama’s on the other half.

I realize those who fawn over Trump won’t have a problem with this…

 
Comment by redmondjp
2016-07-20 09:07:53

I don’t have a problem with it. Michelle didn’t write that speech either, her speechwriter borrowed those same words from another book written years before.

But we apparently don’t care about Michelle’s plagiarism.

 
Comment by CalifoH20
2016-07-20 09:18:33

yep, I saw those words in the Dictionary!

 
Comment by Rental Watch
2016-07-20 10:11:43

The same way that those who fawn over Clinton have no problem with her putting her own personal preference ahead of the security of the nation’s information.

 
Comment by redmondjp
2016-07-20 15:30:27

Here is the source text that Michelle’s speechwriter likely cribbed the text in question from:

“…is based upon the application of certain basic truths: that integrity is all important, that your word is your bond, that if you owe a person money you pay him back, that you work hard, enjoy what you do and show a loyalty to those with whom you work and do business. He instilled in me simple, clear cut values and a will to succeed.”

- Rob Marsh, “Business success in South Africa”, 1992

So again, who plagiarized who?

 
Comment by CalifoH20
2016-07-20 16:12:05

Clinton is a neo-con warmonger.

 
 
 
Comment by Combotechie
2016-07-20 05:31:18

For some perspective, here’s a chart that shows the reconstruction of the earth’s temperature over the past 5 million years that have been derived from the analysis of sediment cores:

https://en.wikipedia.org/wiki/Geologic_temperature_record#/media/File:Five_Myr_Climate_Change.png

Comment by Combotechie
2016-07-20 06:07:53

Here’s a temperature chart from 2500 BC with a projection to 2040:

http://www.longrangeweather.com/global_temperatures.htm

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Comment by taxpayers
2016-07-20 10:24:42

Sensors next to ac blowers help

 
 
Comment by nhtransplant
2016-07-20 09:14:17

How can every year be the hottest year ever recorded and at the same time we are experiencing a pause in global warming that has lasted a dozen years or more?

Comment by Apartment 401
2016-07-20 09:24:12

Because it’s a narrative.

See also: proposed criminal penalties for denial of global warming.

 
Comment by Rental Watch
2016-07-20 10:21:15

Because they changed the data from earlier in the century.

Sorry, they didn’t change it, they “adjusted” it based on methods that are less than transparent.

One metric they use is the temperature in the stratosphere. They have data going back 50 years, but when presenting the graph of temperature, they only like to show the last 30…because it shows a greater warming trend…if you show all the data, it doesn’t show much warming at all.

I think I’m gravitating to being a “lukewarmer” based on what I read.

 
Comment by phony scandals
2016-07-20 16:24:48

“How can every year be the hottest year ever recorded and at the same time we are experiencing a pause in global warming that has lasted a dozen years or more?”

Common Core and Billions of Federal funding $ for Global Warming or um climate change research.

 
 
 
Comment by Apartment 401
2016-07-20 03:16:34

“High home prices have always pushed people to cheaper areas within commuting distance of the office. But the growing acceptability of telecommuting is producing a much more sprawling version of suburban living. Real estate developers who specialize in turning old industrial buildings into upscale condos are dabbling in second- and third-tier cities.”

http://www.bloomberg.com/news/articles/2016-07-19/the-case-for-working-in-silicon-valley-and-living-in-the-rust-belt

Comment by oxide
2016-07-20 04:59:07

The only good thing that these remote techies are doing is buying those rust belt houses for cash. Then, when they lose their jobs to someone in India, they can at least support themselves working at Wal-Mart.

Comment by Ethan in Northern VA
2016-07-20 08:13:55

I still wonder if the rust-belt cities were wired with gigabit FTTH, throw in a few $8/pint craft beer places could the tech world diversify a bit in location. But at the end of the day I suppose everyone needs to be near the VCs.

 
 
Comment by dandroidz
2016-07-20 09:48:18

Up here in New England the remote workers from Boston go deep into Maine and jack up the prices. Portsmouth NH which used to be a rundown Navy town has new construction apartments going for $4,000/mo. Portland Maine is in a housing bubble. Mill towns near the NH-MA border have renovated mills going for $2,500-3,000/mo for 500-800 sq ft.

Comment by CEO Of The Couch
2016-07-20 09:50:32

How far has demand collapse there. 25 year low? 30 year low?

 
Comment by snake charmer
2016-07-20 11:37:52

I’ve been to the Market Square area of Portsmouth, and liked it very much. But that was in September. I’ve not visited northern New England in the winter.

Comment by dandroidz
2016-07-20 12:23:14

Oh yes, Portsmouth has changed a lot, its all cleaned up from what the locals have told me compared to the 80s-90s. Market St has all the boutique shops, ice cream, and seafood joints and where 90% of the tourists walk around. Its the prototypical New England seaside town nowadays…but from what you saw, do you see justification for $3000+ apartyments?> Nay

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Comment by homie
2016-07-21 19:00:10

New England can be breathtakingly beautiful in the winter. Go visit North Conway or the Berkshires in January. Or even Concord, which is an hour’s drive from Boston. Its’ cold, quiet, and profoundly serene.

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Comment by Apartment 401
2016-07-20 04:05:16

An older article on differing formats of Sky Wizardry in ‘Merika.

U.S. Muslims to overtake Jews by 2026:

http://www.wnd.com/2016/04/u-s-muslims-to-overtake-jews-by-2026/

Goodbye Shalom, hello Allahu Snackbar, LOLZ.

Comment by Ben Jones
2016-07-20 07:40:56

I read a book in the late 90’s that put the Israeli birth rate near the lowest in the world (it was under 2 per couple) and the Palestinian the highest at around 6 per couple.

Comment by Apartment 401
2016-07-20 07:56:09

Realm, Ben Jones, Realm.

And here’s a Sky Wizardry question for all the cultural relativists: how many Jewish and Muslim Nobel Prize recipients have their been, and what is the ratio of recipients as compared to total population of each religion?

Comment by Hi-Z
2016-07-21 10:46:56

From Wikipedia:
Nobel Prizes have been awarded to over 850 individuals, of whom at least 20% were Jewish or people of Jewish descent, although Jews comprise less than 0.2% of the world’s population.
Muslims make up over 23% of the world’s population and as of 2015, twelve Nobel Prize winners have been Muslims.

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Comment by Raymond K Hessel
Comment by azdude
2016-07-20 05:51:24

It seems like the bankers have figured out how to rig their own investments pretty well.

Comment by Mr. Banker
2016-07-20 06:08:55

Indeed.

 
Comment by CEO Of The Couch
2016-07-20 06:17:52

Cheer up my friend and be happy like Happy Humphrey…… And remember; Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.

 
 
 
Comment by Larry Littlefield
2016-07-20 04:58:56

It should be noted that there was no overbuilding of offices in the 2000s either, unlike the 1980s. So I expected no downturn in the office market.

Instead there was a crushing downturn, as office workers were squeezed into less and less space like serfs and demand collapsed.

That’s a possibility for other markets too. People are poorer, and are trying to find ways to adjust. And there is lots of excess space within housing units filled with unused crap but prevented from being used for housing by zoning laws and deed restrictions.

Comment by Professor Bear
2016-07-20 05:34:16

It seems as though more and more printing press money keeps getting squeezed into fewer and fewer pockets, which ends up imposing real world space constraints on the other 99.9%, no matter how many buildings get built or remain in use.

 
Comment by CEO Of The Couch
2016-07-20 05:48:04

There a lot of excess empty housing units too. Why build more?

Comment by Professor Bear
2016-07-20 08:04:20

More “safe deposit box” space for oligarchs?

 
 
 
Comment by Apartment 401
2016-07-20 05:27:14

Obama’s “sons” throwing bodily excretions like a bunch of zoo animals:

http://nypost.com/2016/07/19/protesters-throwing-urine-at-each-other-outside-rnc/

 
Comment by Palm Beach County
2016-07-20 05:28:16

There’s one big reason why this housing bubble “can only go so far”
July 17, 2016 05:40PM
By Business Insider

http://therealdeal.com/miami/2016/07/17/theres-one-big-reason-why-this-housing-bubble-can-only-go-so-far/

 
Comment by Professor Bear
2016-07-20 05:28:39

Is plagiarism considered acceptable behavior at Trump University? What was Melania thinking when she parroted Michelle Obama’s speech?

Next up: Denial to fool Trumplings…

Comment by phony scandals
2016-07-20 06:44:46

They were “just words”.

Just Words. Just not Obama’s. - YouTube
https://www.youtube.com/watch?v=8M6×1H08aFc - 169k - Cached - Similar pages
Feb 17, 2008 …

The important thing is…

Melania Trump’s Dress Sells Out Less Than an Hour After Her Republican Convention Speech

by Bruna Nessif | Mon, Jul 18, 2016 11:36 PM

Now that’s how you make a fashion and political statement.

Presidential candidate Donald Trump’s wife Melania Trump took the podium tonight on the first night of the Republican National Convention in Cleveland, marking one of the first times we’ve heard the potential First Lady speak on the election.

And while the 46-year-old did an impressive job with her delivery during the speech, she also killed it in the fashion game, which is one she definitely knows how to play.

http://www.eonline.com/news/780932/melania-trump-s-dress-sells-out-less-than-an-hour-after-her-republican-convention-speech - 122k -

Comment by Professor Bear
2016-07-20 19:18:48

“And while the 46-year-old did an impressive job with her delivery during the speech, she also killed it in the fashion game, which is one she definitely knows how to play.”

Sorry, it slipped my mind that the only measure of success that matters is the moolah one earns.

And if you need to perpetrate fraud to fleece your marks, such as calling a real estate scam artist training program a ‘university’, so be it.

 
 
Comment by Apartment 401
2016-07-20 06:52:56

See also palmetto’s post from yesterday.

Every murdered cop, every islamic terrorist attack, more votes for Trump. How much is Hillary spending to buy each vote? Trump doesn’t have to do anything, his narrative is at this point, self-perpetuating.

Comment by palmetto
2016-07-21 09:44:51

My name is a killing word:

https://www.youtube.com/watch?v=j9a4K3481B0

 
 
Comment by CEO Of The Couch
2016-07-20 07:43:32

Get on the TrumpTrain my friend. Get on the TrumpTrain.

Comment by phony scandals
2016-07-20 08:22:32

“Get on the TrumpTrain my friend. Get on the TrumpTrain.”

I hear the train a comin’
It’s rolling round the bend
And I ain’t seen Old Bernie since I don’t know when,
I’m stuck in Clinton prison, and time keeps draggin’ on
But that train keeps a rollin’ on to the White House lawn..

I bet there’s rich folks eating in a fancy dining car
They probly got Bill Clinton smoking Monica cigars.
Well I know she had it coming, I know it’s Hillary
But that TrumpTrain keeps a movin’
And that’s what tortures me…

https://www.youtube.com/watch?v=8J7VQaWt1uQ - 446k -

 
 
 
Comment by Sean
2016-07-20 05:37:53

“This is just a shift of the needle that I expected because 2014 was a high cycle for the high end”
—————————–

I wonder if this is going to be the new narrative for realtors in the next several years. Remember in 2009 they always said “Well, nobody saw this coming” which led to a new breed of realtor “Foreclosure and short sale experts and analysts”. I’m guessing in 2017 and beyond when the market sags more you’ll hear these clowns say “Yep, I called it. Just as I expected”.

Comment by Apartment 401
2016-07-20 05:47:42

Realtors are liars.

 
 
Comment by Sean
2016-07-20 05:45:15

I read in the comments section of one website (Can’t remember which one) which said it takes more training to be a Yoga instructor than a Real Estate Agent. I thought that was bogus until I did some research:

To be a licensed Yoga Instructor in Virginia, it is a 200 hour course, 7 weeks long and costs around $800.

To be a licensed Real Estate Agent in Virginia, it is a 60 hour course, 3 weeks long and costs about $700.

They were right. It takes more training to be a Yoga Instructor than a Real Estate Agent.

 
Comment by scdave
2016-07-20 06:53:16

Comment by palmetto
2016-07-19 11:11:42

Ha-ha, Melania was magnificent. You got Rickrolled. Don’t feel bad, so did I until the centipedes splained it to me.

They changed the logo.

Sure wish they could do something about Pence, though. ??

Well Palmy, you got your protest nomination…Now sit back and contemplate the completely unknown ramifications for our country with a Trump Presidency..Furthermore, a Pence Presidency either by chance or plan…

No matter what your feelings about Hilary, you know what your getting and grandma won’t take this country into the Abyss…Hold your nose and vote for her or if you can’t do that don’t vote at all…You won’t be alone…Many republicans will not be voting this year…

Comment by Apartment 401
2016-07-20 07:08:42

Oh look, another shaming narrative :(

Comment by CEO Of The Couch
2016-07-20 07:13:09

All the more reason for all my friends and family to get on the TrumpTrain.

 
 
Comment by phony scandals
2016-07-20 07:16:10

“Many republicans will not be voting this year…”

Will they be too busy trying to find out how goon got that dog up there?

Comment by Apartment 401
2016-07-20 07:40:39

8:45am local time, I ate $7.20 of McDonalds breakfast today and just gained 2,000 vertical feet on a 6 mile trail run, so hot out here right now you could wring out my shirt into a glass and it would be like drinking a McMuffin.

Comment by phony scandals
2016-07-20 07:56:44

10:55am and it’s 72 degrees here.

Of course when I finish this estimate and go out to get in my truck it will be a lot hotter.

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Comment by Apartment 401
2016-07-20 08:55:38

The Dumver city skyline sizzling under a warmist warming sun:

http://www.picpaste.com/20160720_084903.jpg

 
 
 
Comment by scdave
2016-07-20 07:49:50

Get a new scrip Phony…Getting real old…Its all you got and your holding on to tight…

Comment by phony scandals
2016-07-20 07:59:41

“Get a new scrip Phony”

No.

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Comment by Ben Jones
2016-07-20 08:04:21

‘RNC Protests Rage, but Anti-Trump Organizers Ask: Where Is Everyone?’

‘Low turnout and very few arrests come as a surprise.’

Weren’t we told this was going to be 1968 all over again?

 
Comment by Professor Bear
2016-07-20 08:09:47

Wasn’t Soros going to hire goons to perpetrate violence? Where are they?

 
Comment by Ben Jones
2016-07-20 08:31:34

Maybe he figured out mass police shootings weren’t working for him.

 
Comment by scdave
2016-07-20 09:17:24

but Anti-Trump Organizers Ask: Where Is Everyone ??

14 mil voted for the guy and now many of them get to go to the Corporate party in Cleveland for the hate fest (witnessed last night with Christie)…Hang-over and Reality sets in on Friday…Its not enough that you hate Hilary…You got to find 36,000,000 + more votes to win the oval office…

 
Comment by Apartment 401
2016-07-20 09:28:36

Donald Trump has transcended from a candidate into a force of nature.

Trying to stop him now is like trying to stop the Sun.

 
Comment by Jesus Navas is my Lord Savior
2016-07-20 09:57:34

Hang-over and Reality sets in on Friday…I

What hang-over? Trump will not get the nomination. He would be out of the race by Thanksgiving 2015.

 
Comment by scdave
2016-07-20 10:33:09

He would be out of the race by Thanksgiving 2015 ??

I thought so but it just tells you how much hate and bigotry that still remains in our country…Will shall see…50,000,000 + needed…

 
Comment by Jesus Navas is my Lord Savior
2016-07-20 10:35:49

how much hate and bigotry that still remains in our country

I hate bigots like you. Of course everyone who votes Trump for whatever reason are bigots. {smh}

 
Comment by CEO Of The Couch
2016-07-20 10:43:44

“Trying to stop him now is like trying to stop the Sun.”

And the fact that nobody wants their 18 year old intern daughter groped by Boorish Bill Clinton.

 
Comment by phony scandals
2016-07-20 10:54:12

“I thought so but it just tells you how much hate and bigotry that still remains in our country”

https://www.youtube.com/watch?v=ss2hULhXf04 - 216k -

 
Comment by Apartment 401
2016-07-20 10:59:17

18 year old intern daughter

Jeffrey Epstein hosted Bill Clinton on Orgy Island many, many times. And was convicted of statutory rape for having sex with a 14 year old.

 
Comment by MightyMike
2016-07-20 11:06:09

Of course everyone who votes Trump for whatever reason are bigots.

The problem with this reasoning is the idea that there are two types of people - bigots and anti-bigots. A lot of Trump voters may be in the middle. They’re not bigots themselves, but they’re not bothered by the bigotry of others.

 
Comment by Ben Jones
2016-07-20 11:22:32

‘but they’re not bothered by the bigotry of others’

Or it goes unrecognized. For instance, Mexico’s ex-president Fox defends a system where poor people pay huge amounts to human traffickers (who bribe the much whiter politicians) who put them in danger to enter the US and work for low pay. (And taking jobs from also poor people or driving down wages).

Now these poor people are a lot darker than Fox. Alot! Actually they have different racial histories. Histories that have been marked by oppression and violence for centuries. But Fox would have us believe he is a humanitarian. Anyone who opposes this horrendous arrangement is a bigot. Anyone who suggests the Elite of Mexico should get their boots off the necks of the poor is also a racist.

You know what? Fox is an A-hole and so are the Elite in Mexico. Fix your country Fox and stop exporting your unemployment and social unrest!

See how that works?

 
Comment by snake charmer
2016-07-20 11:48:12

Bigotry in Latin America is more pronounced than in the U.S., by at least an order of magnitude.

 
Comment by butters
2016-07-20 16:20:04

but they’re not bothered by the bigotry of others.

A lot of Trump voters (bigots) used to be democratic voters. I don’t recall any left leaning person bothered by it.

 
Comment by MightyMike
2016-07-20 16:51:27

Yes, it’s the candidates’ views that people are concerned about.

 
Comment by Raymond K Hessel
2016-07-20 17:30:57

And the fact that nobody wants their 18 year old intern daughter groped by Boorish Bill Clinton.

I’m more concerned about my daughters, when they come of age, being drafted into a socially engineered military led by politically correct incompetents to fight endless neocon wars.

 
Comment by butters
2016-07-20 17:36:40

Mighty mouse moving goal post again. Deflect deflect deflect.

 
 
 
 
 
Comment by Palm Beach County
2016-07-20 07:08:33

Americans’ Economic Gloom Festers as Stocks Hit New High: Gallup Stumped
by Wolf Richter • July 19, 2016

http://wolfstreet.com/2016/07/19/americans-economic-gloom-risis-stocks-hit-high-asset-bubbles-not-helpful/

 
Comment by phony scandals
2016-07-20 07:19:12

Is she guilty or not guilty?

Comment by Apartment 401
2016-07-20 08:06:03

Now that Ben has ended the bits bucket, we can move on from Hillary’s urinary incontinence and adult diapers and discuss her felonies.

Comment by TheCentralScrutinizer
2016-07-20 08:59:45

Hillary rhymes with felony…. coincidence?

I think not…

Comment by Apartment 401
2016-07-20 10:02:55

I recommend that any Hillary campaign event featuring Bill should include the slogan Make America Rape Again.

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Comment by CEO Of The Couch
2016-07-20 10:18:38

Indeed. Starring the Leering Lewd. What a creep.

 
Comment by Tarara Boomdea
2016-07-21 09:18:49

This is more about their thieving, but I think of them as “Global Grifters” or “Grifters Gone Global”.

 
 
 
Comment by phony scandals
2016-07-20 09:19:19

New Jersey Gov. Chris Christie says that four years of Hillary Clinton will bring…

“all the failures of the Obama years, but with less charm and more lies.”

Comment by MightyMike
2016-07-20 10:39:05

But that will be good, won’t it?

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Comment by snake charmer
2016-07-20 11:50:47

I agree that Obama’s considerable charisma has allowed him to do things that Hillary won’t be able to. The left, in particular, largely has given him a pass.

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Comment by azdude
2016-07-20 08:19:38

when bankers control prices get ready for some boom and busts so they can scoop up bargains and create panic.

Comment by CEO Of The Couch
2016-07-20 09:10:37

There is nothing to fear about falling prices my friend. Nothing to fear.

 
 
Comment by Ben Jones
2016-07-20 08:41:42

‘in combination with the large supply that’s on the market right now, this is causing a visible slowdown in rent prices..‘Considering that we’re going to have such a huge supply of new apartments on the market that might drag down even the low end apartment prices’

‘According to the Greater Houston Partnership, developers are scheduled to deliver 25,000 new apartments by the end of 2017′

This isn’t half of what’s headed to the bay area. We’ve got a poster who puts up census bureau housing totals like it’s a big bucket of water. “We aren’t building enough houses!” But we are building housing. Lots of it, in concentrated places. It’s true it is too expensive for the tenants. But that’s going to play out in owner defaults, foreclosures and cheaper housing. It’s already happening in North Dakota, which was more expensive than San Jose in 2014.

Comment by dandroidz
2016-07-20 09:54:46

I’ve stated many times before, while working in Sf in 2012-2013 the “South Beach”- “Mission bay” area along 3rd/4th St heading south from ATT park was loaded with new condo/apt buildings. As you said, yes they were all “luxury” and expensive, I’d guess $4000+ a month at the time. But there was plenty going up, if I can recall I’d say at least 5 or 6 good sized, 5 story glass strucutres, not sure on entire capacity, but it was definitely being built. I walked passed them every day to work. The Bay Area is being built up enough, itll be interesting to see prices in a year or so.

Comment by Jesus Navas is my Lord Savior
2016-07-20 09:58:43

It’s all downhill from here.

 
 
Comment by Rental Watch
2016-07-20 12:10:55

“‘According to the Greater Houston Partnership, developers are scheduled to deliver 25,000 new apartments by the end of 2017′

This isn’t half of what’s headed to the bay area.”

Data source? Over what timeframe?

In the whole of the Houston MSA, they were building more homes PER ANNUM than in the entire state of CA. The metric you note is deliveries in Houston over the next 18 months.

What are the projected deliveries in the Bay Area over the next 18 months? The big number that I’ve seen previously included projects like Treasure Island, which are multi-decade projects.

Comment by Ben Jones
2016-07-20 12:19:15

Aren’t there something like 60,000 units on the way? I realize Texans can build stuff 10 times faster than Californians, but it’ll get there.

Comment by Rental Watch
2016-07-20 12:25:29

“On the way” is different than “under construction and delivered in the next 18 months”.

http://paragon-re.com/San_Francisco_Housing_Development_Report

The 60,000 I believe included projects like Treasure Island which will take many years to build (10+).

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Comment by Ben Jones
2016-07-20 12:48:37

‘which will take many years to build (10+)’

Texan #1: “What will we do for housing in 10 years?”

Texan #2: “Figure it out 9 years from now and build it.”

 
Comment by Rental Watch
2016-07-20 13:35:57

Californian #1: “What will we do for housing right now?”

Californian #2: “Let’s form 12 committees and 3 focus groups to determine the shade of pink we will allow the fences to be painted before we allow any applications to be submitted.”

 
Comment by CEO Of The Couch
2016-07-20 14:07:50

Californian Politician#2: “Let’s form 12 committees and 3 focus groups to determine the shade of pink we will allow the fences to be painted before we allow any applications to be submitted. wait until the developers brown envelope gets fat enough.”

 
Comment by phony scandals
2016-07-20 15:28:45

“Comparing total inventory (illustrated above) to annual sales reveals that condos and TICs turnover about twice as often as houses in San Francisco.”

I had to go look up what a TIC was.

 
 
 
Comment by CEO Of The Couch
2016-07-20 12:20:19

Why build any at all considering this;

US Housing Demand Plummets To 20 Year Low

http://1.bp.blogspot.com/-0q8fIAsczFk/VUANHEhSbnI/AAAAAAAAjRs/oANwXOUviGw/s1600/MBAApr292015.PNG

 
 
 
Comment by CalifoH20
Comment by Jesus Navas is my Lord Savior
2016-07-20 09:53:37

Life must be pretty empty to even read stuff like that.

Comment by CalifoH20
2016-07-20 10:39:13

lol @ lola! Are u getting ready for winter? “life”

 
 
 
Comment by CalifoH20
2016-07-20 09:10:59

GOP working hard for Americans: Paul Ryan Launches TV Ads On Curbing Refugees — After Approving Visas For 300K Muslim Migrants!

 
 
Comment by CalifoH20
2016-07-20 09:22:41

Anti GOP is just that, not pro Hillary. FYI.

Anti-Republican Movement http://www.evilgopbastards.com/

 
Comment by Senior Housing Analyst
2016-07-20 09:30:35

Northwood(Irvine), CA Affordability Skyrockets As Housing Prices Plunge 18% YoY

http://www.zillow.com/northwood-irvine-ca/home-values/

Comment by CalifoH20
2016-07-20 10:31:30

Yippeee!! Easier for the Chinese to buy a larger home!

Comment by CEO Of The Couch
2016-07-20 10:47:57

lol@lola

 
Comment by CHE
2016-07-20 12:30:08

That’s where I grew up. Chinese bought the house across the street from my parents place for $1 mil a couple months ago and nobody lives there. Ruh-roh!

Comment by CalifoH20
2016-07-20 13:26:21

I know Irvine very well. Used to go to UCI when a computer took up 2 rooms just to play Zork. 1977

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Comment by Apartment 401
2016-07-20 09:57:51

Current HBB banner ad is selling subscriptions to the New York Times and says “real news deserves real journalism.”

Comment by Jesus Navas is my Lord Savior
2016-07-20 10:19:16

Finestein approves.

 
Comment by In Colorado
2016-07-20 10:58:47

I finally saw the new Batman/Superman movie (it wasn’t great, but it was OK).

There is a scene where Perry White tells Clark that investigative reporting is a thing of the past, and to get his butt over to the stadium to cover the football game.

Comment by Apartment 401
2016-07-20 11:08:39

Glenn Greenwald is the last journalist.

Comment by rms
2016-07-20 18:34:15

Glenn Greenwald… meet Vince Foster.

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Comment by Senior Housing Analyst
2016-07-20 10:36:36

Wailuku, Hawaii Housing Prices Plunge 17% YoY As International Demand For Housing Evaporates

http://www.zillow.com/wailuku-hi/home-values/

Comment by dandroidz
2016-07-20 11:11:37

Eck, Hawaii, the homeless paradise

Comment by CEO Of The Couch
2016-07-20 11:16:23

What matters here is falling prices.

Remember…. Nothing accelerates the economy, creates jobs and raises the standard of living like falling prices to dramatically lower and more affordable levels. Nothing.

 
Comment by redmondjp
2016-07-20 13:12:17

Not when they are putting them on a plane bound for Seattle, or Portlandia . . .

Heck, even liberal Portland has figured out that it’s better to ship them elsewhere:

http://www.kgw.com/news/local/homeless/53-homeless-people-given-tickets-out-of-portland/274640263

I call it the “See The Country For Free” program.

 
Comment by rms
2016-07-20 13:47:19

“Eck, Hawaii, the homeless paradise”

That’s one thing I like about our 20-degrees F winter daytime temperatures… no street people.

Comment by CalifoH20
2016-07-20 16:23:21

If you just stay inside anyway, you wont notice the street-folks.

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Comment by CalifoH20
2016-07-20 16:16:42

Kauai, is paradise for the homeless indeed! Just need to hike and catch fish.

 
 
 
Comment by Puggs
2016-07-20 11:01:59

The reason most people don’t get out of debt is because they’ve been so conditioned to it for so many years. If they only knew the freedom of no debt.

 
Comment by Senior Housing Analyst
2016-07-20 11:03:06

Miami, FL Real Estate and Homes for Sale-24,545

http://www.realtor.com/realestateandhomes-search/Miami_FL

Miami, FL Real Estate and Homes for Sale-8,613

http://www.realtor.com/realestateandhomes-search/Miami_FL/shw-pr

35% of all Miami, FL sellers reduced their price at least once.

 
Comment by Apartment 401
2016-07-20 11:45:40
Comment by CalifoH20
2016-07-20 13:17:29

really high wages, crazy high COL. Kids who get offered a job at Google/FB/Apple at $90k are in for a surprise… yes, you still will have roommates and no free time.

 
 
Comment by azdude
2016-07-20 12:29:24

when you pull demand forward eventually you run out of future demand.

Comment by Jesus Navas is my Lord Savior
2016-07-20 14:56:13

NOOOOOOOOOOOOOOOOOOOOOOOOOO!

 
 
Comment by CalifoH20
2016-07-20 12:58:52

Does everyone get the feeling that Trump does not want to do all the work it takes to be prez? He will let others do it for him (more than any other POTUS ever), his VP will do most of it and rump just sit in on meetings once in a while.

Comment by Jesus Navas is my Lord Savior
2016-07-20 14:38:03

Like Omaba you mean? Yes he can spend all his days playing golf too. Actually that’s preferred.

Comment by azdude
2016-07-20 15:45:39

u fought the FED and the FED won!

 
Comment by CalifoH20
2016-07-20 16:15:41

Golf? Every play? I have had some great business meeting playing golf and tennis and mtn biking and surfing. get outside!

On Aug. 8, 2014, Knoller tweeted that Obama had taken 19 vacations totaling 125 days so far while in office. Those numbers have risen a bit due to the Martha’s Vineyard vacation, but that’s still many fewer than George W. Bush’s 65 combined trips to his Texas ranch and his parents’ home in Kennebunkport, Maine, which totaled 407 days at the same point in his presidency.

know your party.

Dwight Eisenhower played almost 800 rounds during his eight-year presidency. Obama 186

Comment by Rental Watch
2016-07-20 16:29:19

I’d take Ike in a street fight over BHO any day…although I hear BHO has sharp elbows under the hoop.

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Comment by MightyMike
2016-07-20 16:50:14

I think that Ike was significantly older when he was president.

 
 
Comment by redmondjp
2016-07-20 21:43:16

redmond

But if you compare the Obamas’ separate trip globe-hopping to Bush’s visits to his home state, there is no comparison in cost to us taxpayers.

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Comment by Puggs
2016-07-20 14:56:01

I think most presidents post WWII did/do that.

 
Comment by taxpayers
2016-07-20 15:52:57

? He plays golf

 
Comment by CalifoH20
2016-07-20 16:19:01

looks like it: http://talkingpointsmemo.com/livewire/donald-trump-most-powerful-vice-president

NYT: Donald Trump Wants His VP To Be In Charge Of ALL Policy

Comment by butters
2016-07-20 17:33:08

Never seen such an obsession with a stupid party.

Comment by CalifoH20
2016-07-20 18:48:50

obsession? more like, worried the dummies are winning.

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Comment by CEO Of The Couch
2016-07-20 18:58:45

The TrumpTrain is rattling your empty skull Lola.

 
 
 
 
 
Comment by Senior Housing Analyst
2016-07-20 14:39:42

Metro Boston Affordability Surges As Housing Prices Dive 4% YoY

http://www.zillow.com/ma/home-values/

Comment by azdude
2016-07-20 15:36:56

I’m curious as to how many years you have called for a housing bust as prices continued to climb for the past 7 years?

Comment by Casa$Loco
2016-07-21 02:54:48

We heard the same thing in ‘07 and we called it. You understand people can only afford so much?? And prices cannot increase forever.

 
 
 
Comment by azdude
2016-07-20 15:49:27

The time to buy was in 09!

This sh@t show could last longer than u think.

Comment by CEO Of The Couch
2016-07-20 16:34:31

Cheer up az_donk. Cheer up my friend.

South West(Portland), OR Housing Prices Crater 16% YoY

http://www.zillow.com/southwest-hills-portland-or/home-values/

 
 
Comment by azdude
2016-07-20 17:10:41

the bankers want higher prices and more interest from debt serfs!

Admit the FED is your master.

 
Comment by CalifoH20
2016-07-20 17:15:18

How lame is the GOP when ya gotta drag out Scott Baio? Bay-o?

Comment by butters
2016-07-20 17:34:15

Rent free

Comment by CalifoH20
2016-07-20 17:37:26

Scotty for Secretary of Defense!!

 
 
 
Comment by Senior Housing Analyst
2016-07-20 17:22:37

Arlington, VA Affordability Improves As Housing Prices Plunge 6% YoY

http://www.zillow.com/arlington-va-22201/home-values/

 
Comment by CalifoH20
2016-07-20 17:40:41

TONIGHT: PENCE CALLS FOR UNITY! the informed nation laughs at the hypocrisy!

Comment by Professor Bear
2016-07-20 22:40:01

How can people even stand to watch the World Wrestling Federation RNC presidential lovefest?

Comment by Ben Jones
2016-07-21 07:13:00

‘The creation of enemies unnecessarily, as applied to both Iran and Russia, is a symptom of the neoconservative disease. It is a pointless search for full spectrum military dominance that panders to an inchoate fear that the U.S. is surrounded by foes that can only be dealt with by decisive kinetic action which will require large defense budgets.’

‘Today’s neo-conservatism is a movement born from a curious amalgam of interests that have come together at a time when the United States is in reality militarily unchallenged worldwide and is threatened neither by any other country nor by the pinpricks inflicted by terrorists. Neocons and their associated liberal interventionists have to an extent dominated the foreign and defense policy thinking of the two major parties and most of the media but their message is ultimately based on emphasizing national insecurity, which in the current context is somewhat inexplicable.’

‘The United States has never been more secure internationally, if not domestically, and the only problems it is confronting are themselves part and parcel of the imbroglios that have been engineered by the interventionists and their friends. Speculation is that a Trump victory will actually end their dominance. If that is so, it might just be sufficient reason to vote for Donald Trump.’

http://www.unz.com/article/neocon-schizophrenia/

Comment by Ben Jones
2016-07-21 07:36:16

Regime change has consequences:

US Airstrikes Kill Up to 200 Civilians in Northern Syria Villages, ‘Mistook Them for ISIS’

Potentially Deadliest Strike on Civilians in Entire War

http://news.antiwar.com/2016/07/20/us-airstrikes-kill-up-to-200-civilians-in-northern-syria-villages/

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Comment by palmetto
2016-07-21 08:03:09

The Prof pisses me off no end much of the time, but to be fair, his WWF analogy is spot on. That is EXACTLY what happened with Cruz last night. Anyone who has seen the WWE video of Trump and Vince McMahon couldn’t fail to see the similarities. The main question is, was Ted in on it, or did Trump set him up? And who was responsible for the Trump plane buzzing Cruz’s rally yesterday afternoon? We’ll never know if that was a coincidence.

None of this is to minimize what you’ve posted, Ben. A Trump victory will indeed end the dominance of the neocons. It’s already happening, all you have to do is watch the convention to see how they’ve been swept from the ranks of the RNC. Of course, we have to have a few villains here and there. As Melania said, it wouldn’t be a Trump campaign without some drama.

And that’s the beauty of Trump. He will deliver to the extent that he can, but by God, there will be a show while he’s doing it. Are you not entertained?

https://www.youtube.com/watch?v=FsqJFIJ5lLs

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Comment by Professor Bear
2016-07-21 08:06:38

Thoughtful post.

Too bad the Trump dog-and-pony show is entirely devoid of discernible substance. Perhaps I just lack the patience to detect the subtle anti-neocon message behind all the smoke and mirrors.

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Comment by Ben Jones
2016-07-21 08:38:19

‘Perhaps I just lack the patience to detect the subtle anti-neocon message’

Are you honestly looking? From the link written by Philip Giraldi.

‘Even though Israel is undercutting the neocon plan to isolate and punish Russia at every opportunity people like Bill Kristol, the Kagans and John Bolton make no effort to criticize Netanyahu for his temerity. It is a policy of deliberately looking the other way and it underlines the essential phoniness of what the neoconservatives stand for. To put it bluntly, the neocons claim to support American military dominance globally for altruistic reasons but the reality is that they are largely in it for the money as well as the political and media access to power that money brings with it in contemporary America. What would Sunday morning talk shows be like without a beaming Bill Kristol?’

‘And the cash for the neocons comes mostly from defense contractors who are eager to have a clearly defined serious enemy to boost military spending coupled with an articulate group of pundits who insist on seeing threats worldwide and are willing to promote that viewpoint. Keeping the cash flowing to fund that nice corner office with a view of the Capitol even trumps the Israel relationship but the neocons are careful to make sure the two issues never bump up against each other when they are fulminating against Obama’s national security policies.’

‘We are currently witnessing neocon perfidy at its most refined. They are jumping over themselves to support Hillary Clinton for president in spite of her manifest corruption and unreliability because Donald Trump has threatened to do two things: first he has expressed his unwillingness to enter into new wars in the Middle East or anywhere else and second he has stated that Washington should be even handed when attempting to negotiate peace between Israel and the Palestinians. Both are anathema to the neocons and Trump has further complicated matters by indicating that he would be willing to talk with Vladimir Putin. If Trump were to win, many neocons would likely find themselves having to look for a real job, a terrifying prospect for people with few skills to fall back on.’

 
Comment by palmetto
2016-07-21 08:52:48

Substance? Substance? If that’s what the political-media complex has been jamming up our posteriors for decades, I’ve had enough substance to give me a terminal case of hemorrhoids.

A buddy of mine is a rabid wrestling fan. I once asked him how the heck he could watch that crap. His answer? “It’s a morality play.”

If you were going to put on a morality play at the RNC, you couldn’t have ordered a better villain from Central Casting than Ted Cruz.

And you get it, I must grudgingly admit. Although I disagree that the anti-neocon messaging is subtle. Look at how he’s getting blasted this morning over NATO.

 
Comment by In Colorado
2016-07-21 09:53:33

If Trump were to win, many neocons would likely find themselves having to look for a real job, a terrifying prospect for people with few skills to fall back on

And even if they have “skills to fall back on”, the reduction in income would be severe.

You know that you live in Bizarro World when “real jobs” pay a whole lot less than BS jobs.

 
Comment by palmetto
2016-07-21 10:17:00

I can’t find it right now, but back in the 1980s or the 1990s, there was a Trump quote the substance of which was that the thing a politician feared the most was having to work a 9-5 job.

 
 
Comment by MightyMike
2016-07-21 09:54:40

It is a pointless search for full spectrum military dominance that panders to an inchoate fear that the U.S. is surrounded by foes that can only be dealt with by decisive kinetic action which will require large defense budgets.’

One problem with Giraldi is that appears to think that he’s describing a recent development. The interest in dominating the world goes back to 1945. The large defense budgets are one of the motivating factors, so it doesn’t make sense to call it pointless.

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Comment by Senior Housing Analyst
2016-07-20 18:10:35

Key West, FL Housing Prices Plunge 11% YoY As Flippers Flood Market

http://www.zillow.com/key-west-fl/home-values/

Comment by azdude
2016-07-21 04:41:31

the FED will kick u while your down!

 
 
Comment by Casa$Loco
2016-07-21 02:53:11

Take a look at Chandler, AZ The inventory and price reductions are insane:http://www.zillow.com/homes/chandler-az_rb/?fromHomePage=true&shouldFireSellPageImplicitClaimGA=false

 
Comment by azdude
2016-07-21 04:17:25

looks like another year of rigged stock prices?

Comment by rms
2016-07-21 07:25:12

Market forces are for losers.

 
 
Comment by Raymond K Hessel
 
Comment by Raymond K Hessel
2016-07-21 04:24:14

Hope and change Goldman Sachs can believe in saddles future generations with unpayable, crushing debts.

http://www.cnsnews.com/news/article/terence-p-jeffrey/federal-debt-tops-19400000000000

 
Comment by Raymond K Hessel
2016-07-21 04:26:18

The crowd at the GOP convention vents their displeasure at Heidi Cruz’s Goldman Sachs connection. Hillary supporters, by contrast, have no problem with a Goldman Sachs-owned candidate.

http://mashable.com/2016/07/20/heidi-cruz-escorted-out-of-republican-convention/#KUCzm.A3caqs

Comment by palmetto
2016-07-21 07:04:59

LMAO! The Ted Cruz speech and the aftermath was one of the BEST piece of political theater I’ve ever seen, bar none. Very few people seem to get it. What I want to know is, was Ted Cruz knowingly a part of it? Or was he set up?

 
Comment by Professor Bear
2016-07-21 20:04:43

What kind of bizzaro world have we entered where the GOP candidate with Goldman Sachs ties gets booed at their convention while tbe presumptive Democrat nominee’s Goldman Sachs ties are completely overlooked by her “free shit for everybody” supporters?

I see this reversal of respective party support for Wall Street as a promising development.

 
 
Comment by The Selfish Hoarder
2016-07-21 06:48:22

I am considering trading in my 2003 Toyota. I have a starter problem, oil leak, and water pump problem that together is going to cost me $2,000.

The local dealers have a 0.0 financing on 2016 Toyotas through the end of the month. I think I know what I want. So I am trying to decide if I will only have select models to choose from, is it worth it to do 0.0?

I calculated that by putting the five years worth of Toyota payments in VWESX, I could have about $2,000 in dividends over that time. Or if I wait seven months for my TBills to mature I can pay cash for a “build your own” 2017 Toyota.

Waiting is a reasonable option. Anyone?

Comment by rms
2016-07-21 07:32:50

I have a starter problem, oil leak, and water pump problem that together is going to cost me $2,000.

Where’s the oil leak… crankshaft seal? For $2k you can drop-in a lower mileage wrecking yard engine.

Comment by The Selfish Hoarder
2016-07-21 07:36:57

It is a leak in the engine block itself. The starter is $500 or so. I am no mechanic so i figure what the hell. I put $2,000 into repairs last year.

If I get a trade in without the repairs they will factor in the work needed. If I get a trade in after the repairs they will give me some credit.

Toyota has for years sent me a plea to sell my car and get a new one but they stopped doing that three years ago.

Comment by m2p
2016-07-21 08:55:57

Toyota has for years sent me a plea to sell my car and get a new one but they stopped doing that three years ago.

Marketing trick.

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Comment by The Selfish Hoarder
2016-07-21 09:27:59

“Marketing trick.”

Yup.

I only trusted two Toyota dealerships: Elway’s in Manhattan Beach and Power Toyota in Tempe. This one I take it to in OC lies about everything. The next closest one has lousy reviews as well. Manhattan Beach is 50 miles from my place so I just throw up my hands.

I have a loaner car. The service rep told me it has 2009 miles and he pointed to where it said it on the paper. I was an idiot to trust him. The car had over 130 miles more on it and the gas tank was not full. I had to put 3 gallons in. Its odometer was 2163 at the gas station this morning.

Just another to add to the list.

 
Comment by m2p
2016-07-21 14:51:02

If you decide to do the 0% and buy now, remember, just because the car you want is not on their lot, they can do a dealer trade.

 
 
Comment by cactus
2016-07-21 10:00:40

http://repairpal.com/estimator

I’d buy a new car but probably would not trade the old one in.

Donate for tax break ?

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Comment by The Selfish Hoarder
2016-07-21 11:42:50

It’s a problem for me because I can only park one car at my place. So I would have to park the “for sale” at a trusted place somewhere. In my part of OC there is no place you can park a car for sale on an empty lot like they do in some towns.

 
 
 
 
Comment by phony scandals
2016-07-21 08:24:47

Get a loan from a bank for the “build your own” 2017 Toyota and pay it off in seven months when your TBills mature.

Comment by The Selfish Hoarder
2016-07-21 12:50:24

Thanks,

That’s something I haven’t thought of.

Though the rate could be about 1.5% or so. The advantage is I choose my own options/colors and dealer plus I could start paying for it in huge chunks of money $4,000 or $5,000 at a time and bring the bank to tears that I paid loan off like within 7 months instead of whatever term they would give me - 5 or 6 years.

1.5% of $30,000 is $450 and I would pay them less than that figure by paying it off by the 7th month.

 
 
 
Comment by phony scandals
2016-07-21 08:04:46

Can’t imagine why 67 percent of registered voters don’t find Clinton honest and trustworthy?

“‘Can’t rule it out,’ he said,” Rose said.

“Well, but you can’t rule it in either.

“But he said it was sloppy,” Rose said.

“No, he did not,” Clinton said.

Did email controversy hurt Hillary Clinton’s image? She answers

CBS News July 19, 2016, 7:02 AM

In an interview with “CBS This Morning” co-host Charlie Rose, presumptive Democratic presidential nominee Hillary Clinton addressed perceptions of her trustworthiness and her use of a private email server as secretary of state.

While the FBI recommended no charges be brought against Clinton after their investigation into the scandal, a recent CBS News/New York Times poll shows 67 percent of registered voters do not find Clinton “honest and trustworthy.”

“Do you think the email crisis contributed to the question of trust?” Rose asked Clinton Monday.

“Well, I have said that I am very sorry about it, that I made a mistake. It was certainly not a choice I would do again,” Clinton said.

“I want to hear you out on this. You’ve said, ‘I’m sorry.’ ‘I made a mistake.’ ‘It was the wrong thing to do,’” Rose said.

“I have said that. Yes,” Clinton said.

“And some say, what were you thinking about the national security risk when you made this decision? … And it hasn’t been determined that there was no hacking,” Rose said.

“Well, there is no evidence of it,” Clinton said.

“But some would suggest that that’s the reason that they were very good at it, ’cause there’s no evidence of it, and that you exposed–” Rose said.

“Charlie, there is no evidence of that,” Clinton said.

“But Comey, the director of the FBI, had said, you know, ‘But we don’t know,’” Rose said.

“No, that’s not what he said,” Clinton said.

“‘Can’t rule it out,’ he said,” Rose said.

“Well, but you can’t rule it in either. And there is no evidence. So we could go back and forth on this,” Clinton said. “I go where the evidence leads, and there is no evidence.”

“Let me go to what he said. He said, ‘careless,’” Rose pointed out.

“Well, I would hope that you, like many others, would also look at what he said when he testified before Congress. Because when he did, he clarified much of what he had said in his press conference,” Clinton said. “And I appreciated that.”

“But he said it was sloppy,” Rose said.

“No, he did not,” Clinton said.

“Correct me if I’m wrong. … Someone said, ‘What’s the definition of careless?’ And he said, ‘Real sloppiness,’” Rose said.

“Well, let me say this: There were three at– probably at least 300 people on those emails, the vast majority of whom are experienced professionals in handling sensitive material. … And I have no reason to have second-guessed their decision to send or forward me information,” Clinton said. “Do I wish I hadn’t done it? Of course. Was it a mistake? Yes.”

“Was it wrong?” Rose asked.

“Well, it was wrong because — look at what it has generated,” Clinton said.

“But was it careless?” Rose asked.

“Well, I think you would have to say 300 people who communicated with me on email are among the most careful people I’ve ever had the privilege of working with,” Clinton said.

Comment by Obama Goons
2016-07-21 08:23:52

Hillaryous is unelectable.

Comment by phony scandals
2016-07-21 08:42:28

“Well, I think you would have to say 300 people who communicated with me on email are among the most careful people I’ve ever had the privilege of working with,” Clinton said.

Evidently not.

Now who are these 300 other people in the Hillary circle who put our national security risk?

 
 
Comment by Rental Watch
2016-07-21 09:54:30

“Well, it was wrong because — look at what it has generated,” Clinton said.

Said another way, it was wrong because I got caught. Enough said.

 
 
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