That Pent-Up Demand Is Just About Gone
A report from Reuters. “Over the past four years, the number of entry-level homes for sale – defined as those priced in the lower third of a local market – has fallen by 34 percent, according to a Reuters analysis of data compiled by listings firm Trulia. The market is even tighter in many cities. In Salt Lake City the average number of starter homes on the market has fallen by 83% since 2012, and in San Diego by 71.5%. Cambridge, Mass. and Portland Ore. have both seen drops of more than 60%. As individual and institutional landlords have siphoned off rentals at the low end of the market, new construction has been slow to meet the demand from homebuyers.”
“Average residential land values are up about 79 percent over the last four years, to a level last seen when the housing market peaked in 2007 and 2008, according to the Lincoln Institute for Land Policy. PulteGroup Inc, one of America’s largest home construction firms, says that market forces have pushed it into building more expensive homes. ‘We don’t see a lot of value today in running out into the exurbs and buying a lot of lots,’ PulteGroup Chief Financial Officer Bob O’Shaughnessy said at an investor conference. If there’s another housing downturn, he said, ‘that is the stuff that will shut down first.’”
The Denver Post in Colorado. “Metro Denver home builders are swinging their hammers faster than at any time since the last recession. But production, which remains concentrated on more expensive homes, appears to be ramping up just as the overall housing market is showing signs of cooling off. Measured at an annual rate, starts are running at 10,610 homes, up 35 percent from last year and the fastest pace since 2007.”
“One out of four homes constructed cost more than $500,000, while 64 percent cost more than $400,000. The average price of a new home built in metro Denver the past 12 months is $512,788. As in the existing home market, more signs are emerging that prices have outpaced what most buyers can afford. Visits to new housing developments are down 11 percent in the first half of the year. Builders closed on 2,303 new homes in the second quarter, up 4 percent from the same quarter a year earlier, but far below the percentage increase in starts, the report said.”
“‘In a growing market, starts will always outpace closings, but the gap between annual starts and annual closings is the largest Metrostudy has tracked in 15 years,’ John Covert, regional director of Metrostudy’s Denver office, said in the report. Covert urged builders, especially those selling homes on the higher-end of their given markets, to exercise more caution going forward.”
Bloomberg on New York. “According to real-estate website StreetEasy, 12 of the condos in Manhattan currently listed at over $20 million have had their prices cut by 5 percent or more in recent months, while only 2 of them have seen any increase in their listing price. Among the cuts is a condo at 1 Central Park South. It’s been on the market for more than 250 days, and is now on sale at $45.5 million, $6.45 million less than its price a few weeks ago. That’s just one of the indications that the market may be slowing down.”
“Some sellers are acting cautious amid a perceived glut in supply. One developer had all the approvals he needed to start listing luxury units at 111 W. 57th St., but he has decided to hold off, saying ‘if you have a market where you think marketing would be ineffective for now, why would you launch and spend the money?’”
The Houston Chronicle in Texas. “Houston-area home sales fell 8.8 percent in July, the most severe decline since last winter and a sign that the oil slump finally may be catching up with the housing market. For now, economist Ralph McLaughlin calls the July downturn a ‘cautionary yellow flag.’ ‘If the year-over-year drop continues over the next two months where it’s becoming a trend, that’s where the yellow flag should turn into a red flag,’ said McLaughlin, chief economist for Trulia.”
“The high-end market in The Woodlands, an area that saw a big run up in prices during the boom, is now hurting. The average sales price among the top 5 percent of the market was off 24 percent, according to Redfin. Sales are down in the Greater Heights neighborhoods, and properties aren’t selling as fast as they were a year ago. In 2014, Elizabeth Winston Jones and her family decided to list their Heights home when they saw how hot the market was. But as they were preparing to sell, they realized they needed to make repairs. By the time they were ready, the market had started to soften.”
“They were told not to worry, that their house may take longer to sell but that they would still get the top range of what they were hoping for. By the time the for-sale sign hit the yard, ‘it really felt like a buyers’ market,’ Jones said. ‘Clearly we missed the sweet spot,’ she said. ‘We were still able to sell our home, but it certainly wasn’t the high end.’”
“The market had been holding up for much of this year because pent-up demand from Houstonians edged out of the market during the boom continued to fuel sales. ‘That pent-up demand is just about gone,’ said Patrick Jankowski, chief economist for the Greater Houston Partnership. Sales last month were off in all price ranges, with the worst declines in the lowest and highest ends of the market, according to the local realty data.”
“Housing inventory, while still low by historical standards, reached 4 months in July, the highest it’s been since the fall of 2012. Conventional wisdom holds that anything higher than six months of inventory is a buyers’ market. If it’s below six months, sellers typically have the upper hand. That won’t be true this time around, Jankowski said. ‘As people recognize the direction the housing market is going, sellers are going to be more in a hurry to make a deal before things get worse,’ he said. ‘Buyers will have more options.’”
‘In 2014, Elizabeth Winston Jones and her family decided to list their Heights home when they saw how hot the market was…By the time the for-sale sign hit the yard, ‘it really felt like a buyers’ market,’ Jones said. ‘Clearly we missed the sweet spot’
This woman is a speculator. And there are way more of them out there than most people realize.
From the last article:
‘Inventory of homes priced between $750,000 and $1 million is more than 10 months. It’s even higher in the $1 million-and-up market. Stagnant job growth will inevitably affect Houston housing, but economists won’t say yet if this is the beginning of a prolonged downturn.’
“If there’s no job growth next year, housing is going to struggle,” Jankowski said.’
“If there’s no job growth next year, housing is going to struggle,” Jankowski said.
Hehe… sorta like oil?
No job growth? You mean like how the entire economy has been stagnant or in a technical recession since 2008? These people are literally delusional. 250,000 jobs added *insert random quarter of any random yr since 2008*, and its all bartenders. Whoopieeee
According to the US National Bureau of Economic Research (the official arbiter of US recessions) the recession, began in December 2007 and ended in June 2009. Mission Accomplished!
Ok, here is one recent tale of speculation from my neck of the woods. I saw a couple surfboards on craigslist late monday night that seemed way too cheap, so I got up early and was the first to make contact and make it to his place. We went into a building on a sprawling lot, filled with all manner of junk that he and his daughter were loading into a moving container just outside. Picture a 60 y.o. jeff spicolli with the thickest new yawk accent telling stories of 200yd east coast barrels that had his daughter and me rolling, complete with well placed f-bombs. Anyway, the boards were pristine and the prices were not a typo. I struggled to keep the “are you freaking kidding me?” look from taking over my face and gladly handed him some cash.
Turns out he was moving - bought the place back in 2003, but when bubble 1.0 burst he lost all kinds of money in new york and wasnt able to move out here until 2012. Its been tough out here, and with his mother recently passing away he was going to move into her home in florida.
I got online after I got home and looked up his info - he had big plans for a 6 bedroom place on the over 3 acre lot, but all he built so far was a garage - that was the building we were in! I thought it was odd. He had been living in the 400 sq ft garage for just over 4 years - the ad for the place even notes that the property doesnt qualify for a home loan because even though there is plumbing and electrical it is not permitted as a residence. It is marked as contingent though, but thats 80% of the properties around these parts.
Anyway, there is still plenty of carnage from bubble 1.0 out there even as 2.0 is just starting to burst, I’ll post up some other stories when I have the time.
2 more stories. Not really my neck of the woods, but an area I’ve followed for years - see a house for sale with the words “motivated seller” in the first sentence. Check online, bought by a bunch of canucks (looks like just a bunch of friends) back in the last bubble peak of 2008. I always said most of that canadian hot money of the last 2-3 years was going to get unwound, and this is just one sign.
I see an ad on craigslist in the same area for a FSBO - a house that I followed about a year ago because its a nice place and it sold then for about 15% under list, which was one of the first signs to me that the market was weaker than the headlines. Back on the market already, asking 150K more than she paid for it, with a not-even-half built shack (read artists studio or yoga retreat) and a solar permit as the justification for the valuation. I expect pretentiousness and speculation like this will end up in some well deserved joshua tree style seating.
Yep. Let it crater then buy later for 70% less.
Rent for half the monthly cost of buying it in the meantime.
thanks for anecdotals, sometimes/often more informative than the articles from MSM
‘Average residential land values are up about 79 percent over the last four years, to a level last seen when the housing market peaked in 2007 and 2008…PulteGroup Inc says that market forces have pushed it into building more expensive homes. ‘We don’t see a lot of value today in running out into the exurbs and buying a lot of lots,’ PulteGroup Chief Financial Officer Bob O’Shaughnessy said at an investor conference. If there’s another housing downturn, he said, ‘that is the stuff that will shut down first.’
79% is just the average. In many markets it’s 200% or 300%. That’s your bubble. These builders know this is flim flam and aren’t willing to stick their necks out. But there are some heads that will role:
‘the gap between annual starts and annual closings is the largest Metrostudy has tracked in 15 years,’ John Covert, regional director of Metrostudy’s Denver office, said in the report’
Hammer ready jobs driven by cheap credit/low mortgage rates. There must be so many people that can legitimately afford a $500,000 “starter” home. Yep, *rolls eyes*.
I just looked around my area of Mass on Craigslist and Trulia trying to see if I can fetch a cheaper apartment rental in the coming months. Prices haven’t seemed to drop at all, if anything they are going higher, even out here in the ‘burbs. Looks like I’ll be staying put unless something dramatic happens in the next 4 months
Looks like I’ll be staying put unless something dramatic happens in the next 4 months
If Suzanne calls… delete the message.
If these people cant afford the house they will get a principal reduction down the line.
The collateral has to be kept high to keep banks afloat.
You are forced to pay more.
I don’t get the Suzanne reference?
Century 21 Realtor commercial from the last bubble:
https://m.youtube.com/watch?v=hPIxrzmatq0
Yup, Suzanne researched it!
What are you paying now?
More than I should be, but what I have is the best option for my situation (job location, crime, quality of residence). But I’m 25-30 mins North of metro Boston, but the prices all up the seacoast all the way to Maine are priced high, for buyers and renters.
How much are you paying now?
At first glance I thought this was footage of President Obama talking to Bernie Sanders before the 2016 Democratic National Convention.
https://www.youtube.com/watch?v=ruhFmBrl4GM - 381k -
Denver homeless find hope in housing despite fear of Denver police crack down:
“A major focus seems to be the large-scale removal of homeless and their belongings from the downtown area and along the South Platte River. Critics call them sweeps, but the city prefers to call them “cleanups.”
Denver plans to spend $47.6 million on homelessness programs this year — the most it has ever spent, said Jenna Espinoza, a city spokeswoman. It spent $40.7 million in 2015. The city is also seeing its social impact bonds plan, a program to fund permanent housing with private investments, house more homeless since January at a coalition-managed apartment complex and through landlords across the city, Smith said.. The plan is expected to house 250 chronically homeless by 2018.”
http://www.denverpost.com/2016/08/11/denver-progress-on-homeless-housing/
In 1978 my county found 3 homeless now 3000
It’s a growth industry
Hope n’ change and vagrancy go hand in hand.
Central Denver adding apartments at 7th fastest rate in the U.S.
“Central Denver is spinning out apartments at one of the fastest rates in the country, according to a national survey of apartment construction.
The submarket made up of Downtown, Highland and Lincoln Park ranked 7th out of nearly 1,000 submarkets tracked nationally with a 71 percent growth rate in its inventory of apartments built and under construction since early 2012, according to MPF Research, which is part of RealPage.
The median household income in the Downtown/Highland/Lincoln Park area is $52,180, with the average monthly apartment rent at $1,755. That translates to a rent burden of 40 percent, much higher than the 23 percent averaged nationally.”
http://www.denverpost.com/2016/08/09/denver-apartment-construction/
Tampa Palms, FL Housing Prices Plunge 19% YoY As Housing Correction Accelerates
http://www.zillow.com/tampa-palms-tampa-fl/home-values/
Palo Alto is affordable to only ‘Joe Millionaires,’ warns commissioner resigning over high rent prices:
“Palo Alto, in the heart of Silicon Valley, is turning into a place affordable for only “Joe Millionaires” and not the average Joe, warned former planning commissioner Kate Downing.
In her resignation letter, the former Palo Alto planning commissioner described how the city known for being an epicenter of the tech boom continues to do nothing to stop the bombastic rise in rent prices, which have creeped so high that Downing warns that not even a software engineer can afford them now:
“We rent our current home with another couple for $6200 a month; if we wanted to buy the same home and share it with children and not roommates, it would cost $2.7M and our monthly payment would be $12,177 a month in mortgage, taxes, and insurance. That’s $146,127 per year — an entire professional’s income before taxes. This is unaffordable even for an attorney and a software engineer.”
Part of that is because of the rise of the tech industry in a city that has incubated the early life of companies like Google and Facebook and is now covered in Palantir offices. In the last five years alone, the median home value of the town has doubled from $1.2 million to over $2.5 million, according to Zillow.”
http://www.sfgate.com/technology/businessinsider/article/Palo-Alto-is-affordable-to-only-Joe-9135198.php
It’s all made up, it’s all invented. Facts, figures don’t mean a dang thing.
California is the most impoverished state in the country.
SoCal hit with worst smog in years as hot, stagnant weather brings surge in hospital visits:
“Southern California is experiencing its worst smog in years this summer as heat and stagnant weather increase the number of bad air days and drive up ozone pollution to levels not seen since 2009.
Where pollution is worst, in the Inland Empire, hospitals and asthma clinics are reporting increases in patients seeking treatment for respiratory illness, their breathing difficulties exacerbated by the persistent heat and pollution.
Ozone, the lung-searing gas in smog that triggers asthma and other health problems, has exceeded federal standards on 91 days so far this year compared to 67 days over the same period last year, according to South Coast Air Quality Management District data through Monday.”
http://www.latimes.com/local/lanow/la-me-ln-summer-smog-20160805-snap-story.html
I believe they also have negative net migration of people…obviously people are catching on that CA is unaffordable and not worth the sunshine (and droughts)(and crazy politics) (and methed out homeless)
Poverty, pollution, and there is no water:
“One of the largest natural lakes in the state, Eagle Lake is a shock of blue amid a tawny, isolated upland. But it has fallen around 15ft since 1999, a decline thought to have been exacerbated by climate change.
The main lakeside community of Spalding, a 30-minute drive north of the marina, is dotted with “for sale” signs, and its tidy streets are empty. The waterfront is now a meadow, and the lake has receded to a thin strip in the distance, like an alluring mirage.
There are no longer any restaurants, and the general store is shuttered. Adding to the air of misfortune, dozens of the wells that supply residents with water have gone dry, necessitating deeper ones.”
https://www.theguardian.com/us-news/2016/aug/10/lake-eagle-spalding-california-climate-change
Just think what SF streets would look like if the marshes and landfills get jostled around with a decent little quake. The entire Embarcadero bayside pkwy/shoreline is a huge liability to little break off/sink if a quake hits. “South Beach”/Mission Bay, same story.
That’s where a lot of the new apartment luxury units are being built too. $4,000/mo for the privilege.
Eagle Lake is not fed by any springs or rivers, only by rainwater, so it gets hit hard by global warming. Google Maps shows that the north end is a swamp. The marina is on the south shore… and yup, you can see boat piers sticking out into a field.
You couldn’t pay me to live in San Fran.
Hey Donk.
That smog story is probably fiction, just like global warming.
Irrelevant
Irrelevant.
Irrelevant.
“Ozone, the lung-searing gas in smog that triggers asthma and other health problems, has exceeded federal standards on 91 days so far this year”
Not to worry
Between Moochelle Obama in Air force 1 and Leo DiCaprio and his planet saving private jet flying over 40 to 70 times we’ll get that lung-searing gas back within federal standards.
Or you could just move away from the smogfest they call Southern California which has been that way for a long god damn time.
L.A.’s Smoggy Past, in Photos | KCET
https://www.kcet.org/shows/lost-la/las-smoggy-past-in-photos - 116k - Cached - Similar pages
“Even before they were crisscrossed by clogged highways, the air in Southern California’s inland valleys was subject to pollution. Haze, possibly caused by the use of smudge pots to prevent frost on the Pomona Valley’s citrus trees, partially obscures snow-capped Mount Baldy in this early-twentieth century postcard from the Claremont Colleges’ Honnold Mudd Library Special Collections:”
PHOTOS: Los Angeles under cover | Smog through the years - LA …
http://www.latimes.com/local/la-me-air-pollution-0428-pictures-photogallery.html - 76k -
Real journalists provide a narrative for the cultural relativists:
“The dispassionate language of a Government Accountability Office report reveals an alarming trend: the number of women and girls in the United States potentially facing or who have already suffered mutilation has grown three times since 1990. A practice that should be extinct, now concerns many more people than the population of Atlanta.
Female genital mutilation generally isn’t considered a U.S. problem. But it is, primarily because of increased immigration from countries where it is practiced, rather than widespread cutting here.”
https://www.washingtonpost.com/news/powerpost/wp/2016/08/11/with-500000-female-genital-mutilation-survivors-or-at-risk-in-u-s-its-not-just-someone-elses-problem/
But, but, but, NPR keeps telling me that diversity is our strength!
The story doesn’t appear to have anything to do with diversity.
It has everything to do with it. And the progressives own this.
We must embrace fundamental transformation and cultural relativism.
Point Loma Heights, CA Housing Prices Crater 18% YoY
http://www.zillow.com/point-loma-heights-san-diego-ca/home-values/
If u r buying a house make sure u get no money down furniture so u can drive away in your 84 month loan used car and sleep tight
there u go dude. go big or go home.
Submit and go beg for a loan!
No money down car, no money down furniture, no money down 0 interest 24 month special Home Depot finance on appliances, and finally a no money down rocket loan….What could go wrong besides people making out like bandits?
the no down furniture is for reals dude -saw it on tv
When I was buying my first bedroom set when I was 22, the store was quick to be ask if I needed help and “we have great credit options and payment plans to help” Kind of insulting given that I was going to pay cash.
Neocons gonna neocon:
“The Clinton campaign has adopted an open-border policy with regard to anti-Trump Republicans seeking refuge from the GOP’s civil war. The tactical logic of this move is clear: Cross-over endorsements buoy the argument that all Americans, regardless of ideology, should be able to recognize that Donald Trump is not qualified for the presidency.
Beyond its strategic benefits, there is an ethical argument for taking this big-tent approach. Trump’s xenophobic authoritarianism represents a unique threat to our liberal democracy. By amplifying the voices of Republicans willing to acknowledge this fact, Clinton helps to delegitimize the hateful creed Trump stands for.
There’s no question that Democrats should take in some #NeverTrump refugees. But a more rigorous vetting process is in order — because when Clinton holds up unrepentant supporters of Bush era foreign policy as arbiters of what does and does not “make America safe,” she is giving legitimacy to views nearly as dangerous as Trump’s.”
http://nymag.com/daily/intelligencer/2016/08/clinton-touts-endorsement-from-pro-torture-neocons.html
Real journalists provide a very long (the entire issue of the New York Times Magazine) 5-part narrative on the Middle East:
http://www.nytimes.com/interactive/2016/08/11/magazine/isis-middle-east-arab-spring-fractured-lands.html
See also:
https://www.google.com/#q=securing+the+realm
I’m surprised it’s only 11 million
11 million Americans spend half their income on rent
by Kathryn Vasel @KathrynVasel June 22, 2016: 12:04 AM ET
Gentrification: ‘Battle to save the heart, soul and spirit of San Francisco’
More Americans are struggling to make rent.
The number of renters dedicating at least half of their income toward housing hit a record high of 11 million people in 2014, according to the annual State of the Nation’s Housing Report from the Joint Center for Housing Studies of Harvard University.
A total of 21.3 million are spending 30% or more of their paycheck to cover the rent — also a record high.
Personal finance experts generally suggest budgeting around 30% of monthly income to cover housing costs.
But that’s getting harder to do with rent prices rising faster than wages
half pay check rent
Household budgets are taking a hit
Losing such a large portion of a paycheck to cover housing means cutting back in other areas.
“When you have to dedicate such a high proportion of your income to rent every month, it forces you to make difficult decisions,” said Dan McCue, a senior research associate at the Joint Center.
Not only does that mean less spending on essentials like food, clothing and health care, it also makes it tougher to achieve long-term financial security by saving for an emergency fund, a down payment or retirement.
http://money.cnn.com/2016/06/22/real_estate/rent-affordability-housing-harvard/ - 190k -
Even as a mechanical engineer living in the ‘Burbs, 40% of my pay goes towards rent/utilities, and I’m in an converted 3rd FL residence apartment….
engineers and stem are the only grads getting jobs
That or finance people (depending on the city). Someone has got to process all these credit apps and swaps, or sell insurance.
so not true. All majors (besides Sociology) are getting jobs. But Alpha Phis have good networking. Nurses are in huge demand in CA as are trades people.
Yes, I do not know any unemployed nurses. Or unemployed teachers for that matter. The only unemployed teachers I know are from California actually, where they work on ayear to year basis, with the threat of a pink slip at each summer.
So are two roomies paying 30% of their income, each? The rent is too damn high.
They could setup a cardbox box room and get a 3rd roommate, so its only 15% of each renters income. That is afterall the hottest bay area trend, room box rentals.
Wall Street Journal subscriber paywall article:
Home Equity Loans Come Back to Haunt Borrowers, Banks
The cost of home equity lines of credit taken out before the housing bust is rising. That is leading to missed payments
“The bill is coming due for many homeowners on a type of loan that was widely popular in the run-up to the housing bust, causing a rise in delinquencies at banks.
More homeowners are missing payments on their home-equity lines of credit, or Helocs, a type of loan that allows borrowers to withdraw cash from their house to pay for renovations, college tuition or almost any other expense. These loans typically require interest-only payments for the first 10 years, but then principal payments kick in for the next 15 or 20 years.
The increased cost of the loan can become a strain for some borrowers. This is becoming an issue now because many borrowers signed up for Helocs in the run-up to the housing bust as home values kept rising. Roughly 840,000 Helocs taken out in 2006 are resetting this year, with principal payments on an additional nearly one million loans expected to hit in 2017.”
More from the WSJ
As Rental Supply Grows, Landlords Negotiate:
“Vacancy rates for Manhattan rental apartments reached their highest level for any July in at least 14 years, the latest evidence that the market is softening, according to a report from broker Citi Habitats.
The report also said deals that include landlord concessions more than doubled from July 2015. July is usually a strong month for New York City landlords, as college graduates move in and families scramble to find apartments in time for the fall semester.
Analysts attributed the signs of weakness to a disconnect between the rents that landlords are demanding and what tenants expect to pay, at a time when the real-estate market is flooded with newly opened rental buildings in Manhattan and Brooklyn.”
Manhattan Luxury Rental Prices Flat:
“Manhattan’s luxury rental prices were broadly flat over the last year as the market struggles amid an oversupply.
The median luxury rental price in Manhattan, defined as the top 10%, fell just 0.4% year over year to $7,889 in July, according to new research released Thursday by appraisal firm Miller Samuel on behalf of Douglas Elliman Real Estate. The entry threshold is $6,411.
Month to month, prices fell 6.9% to $7,889 in July, reversing June’s rise of the same amount. However, the annual price growth trend smooths out any monthly blips. The median rental price for the overall market was $3,450, up 0.2% on the month and 0.9% higher on the year.”
So if people started to cash out HELOCs at say, the peak 2004-2005, then the principal cycles should be starting right about now ?
Will it be the same affect of the ARMs leading up to 2008, people didn’t realize the fine print until the bills were in the mail?
Remember….. Nothing grinds the economy to a halt, collapses demand and creates joblessness like grossly inflated fixed prices and rigged markets. Nothing.
“Homeownership Rate in the U.S. Drops to Lowest Since 1965″
http://www.bloomberg.com/news/articles/2016-07-28/homeownership-rate-in-the-u-s-tumbles-to-the-lowest-since-1965
Trump know nothing. He said (yesterday) that O is the creator of ISIS because of the way he pulled out of IRAQ.
Really—
The U.S.–Iraq Status of Forces Agreement (official name: Agreement Between the United States of America and the Republic of Iraq On the Withdrawal of United States Forces from Iraq and the Organization of Their Activities during Their Temporary Presence in Iraq) was a status of forces agreement (SOFA) between Iraq and the United States, signed by President George W. Bush in 2008. It established that U.S. combat forces would withdraw from Iraqi cities by June 30, 2009, and all U.S. combat forces will be completely out of Iraq by December 31, 2011.[1] The pact required criminal charges for holding prisoners over 24 hours, and required a warrant for searches of homes and buildings that were not related to combat.[1] U.S. contractors working for U.S. forces would have been subject to Iraqi criminal law, while contractors working for the State Department and other U.S. agencies would retain their immunity. If U.S. forces committed still undecided “major premeditated felonies” while off-duty and off-base, they would have been subjected to an undecided procedures laid out by a joint U.S.-Iraq committee if the U.S. certified the forces were off-dut
lol@lola
Hello Big Mac,
I haven’t had any fast food for a long time, almost a year. But today when riding the bus (I no longer drive by necessity and by choice), there was a guy with a bag of McDonald’s and it smelled so darn good.
But what I wanted to ask was, what do you mean by: “Lola”.
I get LOL = laughing out loud.
I tried to look up Lola and there was a reference to some spanish lady of sorrow? Is that what Lola means?
lol@lola.
Well to be fair, fans of Obama [and Obama himself] would be quick to point to him withdrawing combat force sin Iraq and Afghanistan (only to surge them again), and add more conflicts to the US war resume.
you do know a treaty was signed - google it
Shawn Lucas?
Shawn Johnson.
https://www.google.com/search?site=imghp&tbm=isch&source=hp&biw=1366&bih=635&q=shawn+johnson&oq=shawn+johnson
How is that new young lady friend of yours doing?
Doing well I hope.
so new day same question
is it easier to walk away from your mort now vs 08?
“is it easier to walk away from your mort now vs 08?”
In 08 through 11 or 12 you didn’t walk away from your mortgage you cohabited with it.
So it was more like having a roommate that didn’t need a bedroom but still paid all the rent.
Or better yet, you held on to that mortgage you weren’t paying and collected rent for 3 or 4 years because even if they haven’t paid the mortgage in four years they are still the owner and can legally collect rent until the bank actually forecloses.
Venice, CA Housing Prices Tank 7% YoY As Inventory Balloons
http://www.zillow.com/venice-los-angeles-ca/home-values/
I opened a margin account to buy overpriced stocks to rid the momentum.
Dont fight the tape they say.
Sounds like a better place to throw your equity, instead of wine.
ahhhh…. margin accounts….so 1999. Are they still sending out “buy now” emails? I used to make good money with the get in, get out, then go back to sleep.
Margin was big back in 1929 as well.
“As Rental Inventory Increases, Landlords Are Offering Up More Concessions”
https://www.6sqft.com/as-rental-inventory-increases-landlords-are-offering-up-more-concessions/
“According to Douglas Elliman’s latest market report, landlord concessions (covering broker’s fees, offering free months’ rent, doling out $1,000+ giftcards) have doubled over the past year for Manhattan and Brooklyn rentals, coinciding with a roughly 30 percent increase in inventory in both of the boroughs.”
“Servicing Bad Loans Gets Trickier as FHA’s Share of Them Grows”
http://www.nationalmortgagenews.com/news/servicing/servicing-bad-loans-gets-trickier-as-fhas-share-of-them-grows-1083177-1.html
Is servicing bad FHA loans a nice way to say “taxpayer subsidies” ?
A convoluted way to say crushing.housing.losses?
Scientists Blame Volcano For the ‘Pause’ In Sea Level Rise
Sea level rise slowed during the 2000s despite scientists’ predictions
Michael Bastasch | Daily Caller - August 11, 2016
Climate scientists at a federally-funded research institute say a massive volcanic eruption during the early 1990s “masked” the acceleration in sea level rise due to man-made global warming.
Scientists with the National Center for Atmospheric Research (NCAR) say the 1991 eruption of Mt. Pinatubo “masked the acceleration that would have otherwise occurred” in sea level rise due to global warming. They also said sea level rise will get even worse as the world warms.
“This study shows that large volcanic eruptions can significantly impact the satellite record of global average sea level change,” Steve Nerem with the University of Colorado Boulder, where NCAR is located, said in a statement.
“So we must be careful to consider these effects when we look for the effects of climate change in the satellite-based sea level record,” Nerem said.