A Lot Of Investors Require A Certain Return
Bloomberg reports on California. “With its 40 stories and monthly rents of as much as $25,000, a new Los Angeles apartment tower is reaching Manhattan’s heights. And its amenities may make New Yorkers jealous: a chauffeur-driven Rolls-Royce, in-house Botox and your latte brewed to order before you even ask for it. In a city known for sprawling mansions, the 283-unit Ten Thousand, scheduled to open in January on the border of Century City and Beverly Hills, is testing the market for high-end living with high-rise views. It follows the success of the nearby 8500 Burton Way, which opened almost four years ago as one of the city’s first ultra-luxury rental buildings and is now fully leased with rents of $12,000 to $40,000 a month.”
“While the $8,500 starting rent at Ten Thousand isn’t unheard of in New York, it’s uncommon in Los Angeles, where a mortgage payment of that amount could pay for a $2.1 million villa with six bedrooms and guesthouse in the Hollywood Hills. But for a wealthy millennial, an international visitor or a bicoastal executive, Ten Thousand’s two- and three-bedroom rentals provide an alternative to a five-star hotel or buying a mansion and hiring a team of servants.”
“Developer Rick Caruso, whose 8500 Burton Way has even higher rents, said the biggest challenge for Ten Thousand will be getting its almost 300 units filled. ‘There’s a bit of an amenities arms race, where each building wants to have the latest, greatest and newest features to outdo each other,’ said Krishna Rao, an economist at real estate listings website StreetEasy.”
The Union Tribune in California. “The median rent at the bottom rung of the San Diego County apartment market rose nearly 16 percent faster in the last year than the market as a whole, said Zillow. Eleven percent of new construction since 2014 has been at the low-end, but high-end has accounted for 64 percent of building — leading to more competition for cheaper places. The study illustrates tension between builders, who say they need to construct high-end units to pay for permits and regulations, and housing advocates pushing for more options across all income levels.”
“At the same time, there continues to be no shortage of renters who are willing to pay for luxury apartments. San Diego County’s lowest-income renters spend 69 percent of income on rent, said the latest report from the California Housing Partnership Corp. It said the median rent had increased 32 percent since 2000 while median renter household income, adjusted for inflation, had declined 2 percent.”
“Matt Schwartz, CEO of California Housing Partnership Corp., said curbing regulations in California may not mean builders will decide to build more low-end units. ‘If your goal is to make money, you’re probably always going to chose the biggest margin you can,’ he said. ‘If you got rid of a bunch of regulation, how much do we think builders would then lower their prices to make it affordable for people at 50 to 60 percent of median (income)? No, they would take the profit.’”
The Denver Post in Colorado. “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. The 71 percent jump in apartment inventory was eightfold the increase averaged across the nation’s 100 largest metros.”
“The developments, with more bells and whistles than past generations of apartment buildings, aren’t targeting those making the median income. ‘We are seeing dramatic growth in urban areas,’ said Jay Parsons, vice president of research at MPF. ‘These are people who are making good money, working good jobs. This is a relatively privileged class,’ Parsons said of the tenants.”
“Rent gains are slipping and vacancy rates are rising in the areas with the most concentrated apartment construction, raising the risks for developers, especially if the economy slumps. But Parsons argues long-term demographic trends support the construction wave in popular urban areas. And as to the idea that developers will pivot to more affordable suburban projects, Parsons said he doesn’t see it happening in a big way this cycle. ‘A lot of investors require a certain return. Getting that return will require bigger deals in more expensive neighborhoods,’ he said.”
The Wall Street Journal on New York. “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 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. 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.”
“New buildings often offer discounts to attract tenants, and such offers are now affecting rentals in nearby older buildings as well, said Nancy Packes, a marketing consultant to many rental developers. ‘Buildings in the area of new buildings need to match the concessions,’ she said.”
“In Brooklyn, the percentage of rentals with landlord concessions nearly doubled, according to a report by Douglas Elliman prepared by Jonathan Miller, an appraiser and president of real-estate firm Miller Samuel Inc.’There is a mismatch between what the demand is and what the supply being created is,’ Mr. Miller said.”
The Williston Herald in North Dakota. “Wednesday morning, a long Atlas moving van was parked outside 2300 25 th St. W. Workers loaded possessions into the truck and by nightfall, another family had departed Williston. The slowdown in oil-based employment has forced many families to leave the area, taking with them school-aged children, making enrollment projections and classroom space needs hard to gauge. Along one block of 25 th St. W, three homes are for sale. In that new section northwest of Dakota Parkway, more than 40 homes, most of which have been built in the last few years, are also on the market. Across Williston, according to Zillow, about 200 homes are for sale.”
“In 2012-13, the city’s population increased 11 percent or 2,851 to 29,595. To put that in perspective, one person moved to Williston every four hours. A North Dakota State University study predicted that then-current trends indicated Williston would grow more than 50 percent to about 40,000 people by 2017. But the frenzied oil drilling has gone into hibernation, taking such predictions with it.”
“That population explosion created the well-documented housing shortage in which, at one point, Williston had the highest rents in the nation at $2,450 a month for a one-bedroom apartment. Now, with thousands of units available, those rents are coming down but still hover at about $1,800 a month for a one- or two- bedroom. As home prices gradually revert to their true value, it means more families are looking to buy homes, says Bill Murphy of Bakken Realty. Those who have the money for down payments and who can qualify for loans would see monthly mortgage and tax payments about equal to the rents they are now paying.”
“Murphy said sellers are more willing to negotiate, enticing families who have been living in apartments to enter the market. ‘There’s a higher inventory of homes on the market than anytime in the past several years,’ he said.”
‘And as to the idea that developers will pivot to more affordable suburban projects, Parsons said he doesn’t see it happening in a big way this cycle. ‘A lot of investors require a certain return. Getting that return will require bigger deals in more expensive neighborhoods’
This is an interesting admission. The market needs more affordable apartments, yet this guy is saying they can’t and won’t develop them because the financiers desire a higher return. No producing what the market will pay for, they are going to pay big bucks for land, build expensive amenity rich complexes that charge high rents. And they wonder why they can’t fill them!
What if car makers only made luxury cars, and did so because they “needed” the higher returns luxury cars brought? They’d be broke.
Austin, TX Housing Prices Plummet 16% YoY As Housing Correction Gains Speed
http://www.movoto.com/austin-tx-williamson-county/market-trends/
‘at one point, Williston had the highest rents in the nation at $2,450 a month for a one-bedroom apartment. Now, with thousands of units available, those rents are coming down but still hover at about $1,800 a month for a one- or two- bedroom’
$1800 is a little high. I’ve posted articles saying you can get a 3 bedroom for $1500. But it’s worth noting Williston was higher than San Jose CA in 2014.
$800 is a little high for Williston, historically speaking. People who bought real estate, especially at lofty prices, are getting slaughtered.
Most people in CA dont want affordable housing bringing down their property values.
CA ownership is ~54% and dropping….
no agua in da south
True. They hate renters in apartments too. Many regard renters as riff raff.
It makes sense. Getting into my apartment complex from the busy road during rush hour is a challenge as the tailgaters in the right-most lane assume you are not turning. Sometimes they are too close to see the turn signal light blinking. Then there is an occasional angry driver tooting a horn. They hate us renters.
Particularly since the apartment complex is well kept and the rent prices are reasonable, about one third the PITI and maintenance of the SFHs, which is 95% of my zip code’s residences.
I also think the Harley’s love to really rev up their pipes while passing the apartment complex - as a revenge for us saving lots of money by renting than by owning.
They don’t want ‘affordable housing’ because over 15% and the crime rate increases. When I rented here in Salinas my next door neighbor was part of gang task force and that percentage was his advice to me. It had nothing to do with race.
http://finance.yahoo.com/news/facebook-investing-stock-market-opportunities-000000079.html
RealtyShares provides a much more diversified way to invest in real estate with fewer resources than were once required, but other restrictions limit the pool of people who can consider investing through RealtyShares.
There’s a minimum investment requirement of $5,000 and individuals must be accredited investors, meaning the net worth or joint net worth with the person’s spouse must exceed $1 million or the individual must have received an annual income of at least $200,000 in each of the two most recent years. For people just starting their careers, this is far from a reality.
1M / 200K millennials are investing huh what ?? I read this about 3 x and don’t get it a 34 yr old , 200K OK is that typical ?
Cactus
200k is less than average for a 34 if they are a doctor/dentist; average for a successful small business owner; above average for most professionals ie engineers, accountants, lawyers, architects; way above average for 50% of the population.
BTW, I think Realty Shares should be avoided !
Christy Liu found herself in an enviable predicament in October 2012 when her travel discovery startup Wanderfly got acquired by TripAdvisor’
Oh I need to read , only applies to rich millennials …
Yahoo runs ads disguised as articles
Historically, investing in real estate is extremely capital intensive, costing people at least $100,000 to invest in a single asset — leaving investors with a very one-dimensional, concentrated investment, Athwal told Yahoo Finance.
“It’s making real estate accessible for the first time in a way that it’s never been before. Real estate is a massive market, as big as the stock market in terms of market cap,” he says. “But buying a share of a building or a single family home has been historically very, very difficult. So we’re very proud to be catering to a broad set of investors through our marketplace and helping them diversify into real estate.”
RealtyShares has helped 20,000 individuals invest $150 million of capital through its platform, financing 300 investments across 30 states. Athwal says the company receives over 1,000 online applications from various developers across the US. It then selects 3% of those developers to get connected with individuals who have a minimum of $5,000 to invest.
Remember…… A ‘housing recovery’ is falling prices to dramatically lower and more affordable levels by definition.
Stocks closed higher Thursday, with the three major indexes closing at new record highs, amid sharp gains in oil prices and strong quarterly results from retailers.
DOW 50K!
i missed the bull run too! get in GET OUT!
who the hell is buying besides central banks and corporations? This seems like a total suckers rally.
Volume is almost none-existent. Just HFT algos buying and selling to each other.
Here’s some volume for you. Keyraaaaaaaank it up more, count your stack cuz tomorrows Friday.
https://youtu.be/mSfNvTVEALw
lol@ozzy
Spillover effect of post-Brexit monetary stimulus at the BoE?
Robert Shiller: “Houses Depreciate”
http://www.pragcap.com/robert-shiller-dont-invest-in-housing/
And every dollar sucked into this is a dollar that will not be spent in the “real economy.”
Next president faces possible ObamaCare meltdown:
“From a policy point of view, we’re basically seeing the exchanges unravel,” said Michael Abrams, a healthcare strategist with Numerof & Associates who consults for insurers including UnitedHealth Group.
“More than anything else, it’s a serious symbolic blow to ObamaCare,” he said.
The two companies’ abrupt decisions to pull back from ObamaCare have baffled healthcare experts. Both Aetna and Anthem had previously been optimistic about the marketplace, unlike UnitedHealth, which had been cautious from the start.
As recently as this spring, Anthem said it was “well-positioned” to stay in the marketplace, and Aetna said it was in a “very good place.”
http://thehill.com/policy/healthcare/291056-next-president-faces-possible-obamacare-meltdown
Blue Cross wins, we all lose: http://townhall.com/tipsheet/mattvespa/2016/08/09/shocker-colorados-initiative-to-implement-singlepayer-health-care-is-way-too-expensive-n2203088
Singapore is #1, USA #46
Will ‘Muricans bend over for the next Wall Street bailout with the same alacrity they showed by voting for pro-bailout Republicrats and Wall Street stooges in 2008?
http://theantimedia.org/next-big-housing-bailout-america/
Has the DNC chartered airlifts yet to bring millions of Democrat-on-Arrival refugees from Hillary’s neocon wars to the US?
http://www.breitbart.com/london/2016/08/11/milan-overrun-invasion-thousands-immigrants/
What’s the RNC to do now in the face of open revolt?
The RNC will do exactly what its oligarch bankrollers pay it to do: be adjuncts of the globalists, corporate statists, plutocrats, and neocons.
One thing the RNC didn’t do was pick the candidate. Imminent people like Curley have been disregarded.
More meaningless jawboning from Yellen’s flying monkeys about an un-possible rate hike.
http://www.marketwatch.com/story/fed-needs-to-gradually-take-its-foot-off-the-gas-williams-says-2016-08-11
Meanwhile, municipalities maladministered by corrupt, incompetent Democrats (there is no other kind) sink deeper into dystopia.
http://nypost.com/2016/08/11/homeless-druggies-have-taken-over-the-backyard-of-greenwich-village/
The vermin count just dropped by one.
http://www.independent.co.uk/news/uk/home-news/kadiza-sultana-killed-isis-syria-air-strike-bethnal-green-london-schoolgirl-ran-away-a7185801.html
BREXIT spells bubble trouble.
http://www.telegraph.co.uk/property/house-prices/number-of-homes-on-the-market-at-record-low-as-brexit-uncertaint/
It is hardly surprising that the breakdown in American morality that makes it almost certain that Hillary Clinton will be our next president, is also manifesting as rising violent crime rates.
http://www.breitbart.com/big-government/2016/08/10/crime-female-joggers-rape-murder/
Huh. Seems to be a strong correlation between hope n’ change and Americans feeling an urgent need for self-defense.
http://www.washingtonexaminer.com/concealed-gun-permits-soar-215-record-14.5-million-explode-under-obama/article/2599031
“It said the median rent had increased 32 percent since 2000 while median renter household income, adjusted for inflation, had declined 2 percent.”
We are holding the line at 22pct of household income. Rent went up alot but so did my wife’s contribution to our income.
It sux to sink upwards of 30pct down the housing market rathole.
I wonder will your landlord sell the place when it gets above water ?
They often do that the unintentional landlords who have been waiting to get “even” again and don’t want to own through another crash.
make sure they don’t read this site !!
I wonder will your landlord sell the place when it gets above water ?
I’ve lived this (Vegas). I’ll find out in a few months (time flies when you’re having fun :-p) Facing a rebellion at home; they’re refusing to move again.
Anybody who votes for socialism deserves to suffer.
http://money.cnn.com/2016/08/11/news/economy/venezuela-food-shortages/index.html
Venezuela government could force people to work on farms”
end game
RIP, rule of law.
http://www.breitbart.com/2016-presidential-race/2016/08/11/several-fbi-field-offices-pushed-doj-probe-clinton-foundation-clinton-cash/
This can’t be, I watch the CBS evening News every night and there is no mention of it.
“A Lot Of Investors Require A Certain Return”
Judicial Watch Uncovers New Batch of Hillary Clinton Emails
AUGUST 09, 2016
Huma Abedin Emails Show Clinton Foundation Donor Demands on State Department
(Washington DC) – Judicial Watch today released 296 pages of State Department records, of which 44 email exchanges were not previously turned over to the State Department, bringing the known total to date to 171 of new Clinton emails (not part of the 55,000 pages of emails that Clinton turned over to the State Department). These records further appear to contradict statements by Clinton that, “as far as she knew,” all of her government emails were turned over to the State Department
The new documents reveal that in April 2009 controversial Clinton Foundation official Doug Band pushed for a job for an associate. In the email Band tells Hillary Clinton’s former aides at the State Department Cheryl Mills and Huma Abedin that it is “important to take care of [Redacted]. Band is reassured by Abedin that “Personnel has been sending him options.” Band was co-founder of Teneo Strategy with Bill Clinton and a top official of the Clinton Foundation, including its Clinton Global Initiative.
Included in the new document production is a 2009 email in which Band, directs Abedin and Mills to put Lebanese-Nigerian billionaire and Clinton Foundation donor Gilbert Chagoury in touch with the State Department’s “substance person” on Lebanon. Band notes that Chagoury is “key guy there [Lebanon] and to us,” and insists that Abedin call Amb. Jeffrey Feltman to connect him to Chagoury.
Chagoury is a close friend of former President Bill Clinton and a top donor to the Clinton Foundation. He has appeared near the top of the Foundation’s donor list as a $1 million to $5 million contributor, according to foundation documents. He also pledged $1 billion to the Clinton Global Initiative. According to a 2010 investigation by PBS Frontline, Chagoury was convicted in 2000 in Switzerland for laundering money from Nigeria, but agreed to a plea deal and repaid $66 million to the Nigerian government.
Clinton’s top aides’ favors for and interactions with the Clinton Foundation seem in violation of the ethics agreements that Hillary Clinton agreed to in order to be appointed and confirmed as Secretary of State. For example, Secretary of State-designate Hillary Clinton on January 5, 2009, in a letter to State Department Designated Agency Ethics Official James H. Thessin:
“For the duration of my appointment as Secretary if I am confirmed, I will not participate personally and substantially in any particular matter involving specific parties in which The William J. Clinton Foundation (or the Clinton Global Initiative) is a party or represents a party….”
http://www.judicialwatch.org/press-room/press-releases/judicial-watch-uncovers-new-batch-hillary-clinton-emails/ - 54k -
How come your candidate keeps trying to commit political suicide?
Your’e mistaking suicide for the rope-a-dope treatment. It’s all it is.
It’s a pretty convincing fake!
At the rate the middle class is disappearing, tiny houses will be the Next Big Thing.
http://www.businessinsider.com/getaway-house-rents-tiny-houses-to-unplug-2016-8
But…but…gun control saves lives! The clever lady on TV said so.
http://www.chicagotribune.com/news/local/breaking/ct-chicago-violence-shootings-20160810-story.html
Anyone here physical gold buyers?
There is nothing like having a good stash, like several 1kg bars, holding them in your hands. The weight.
It is very satisfying.
Cash my friend. Cash.
THE WALL STREET JOURNAL
U.S.
Lopsided Housing Rebound Leaves Millions of People Out in the Cold
Homeownership rate continues to decline as credit issues, student loans and high prices lead more to rent
The U.S. housing market has soared back, with prices just 2% shy of that record high. But while the recovery has been stronger than expected, it has left behind millions of middle-class Americans. WSJ’s Laura Kusisto explains on Lunch Break with Tanya Rivero. Photo: Getty
By Laura Kusisto
Updated Aug. 11, 2016 8:17 p.m. ET
The housing recovery that began in 2012 has lifted the overall market but left behind a broad swath of the middle class, threatening to create a generation of permanent renters and sowing economic anxiety and frustration for millions of Americans.
Home prices rose in 83% of the nation’s 178 major real-estate markets in the second quarter, according to figures released Wednesday by the National Association of Realtors. Overall prices are now just 2% below the peak reached in July 2006, according to S&P CoreLogic Case-Shiller Indices.
But most of the price gains, economists said, stem from a lack of fresh supply rather than a surge of buyers. The pace of new home construction remains at levels typically associated with recessions, while the homeownership rate in the second quarter was at its lowest point since the Census Bureau began tracking quarterly data in 1965 and the share of first-time home purchases remains mired near three-decade lows
…
If you can believe it, the housing picture in China is even more bleak than in the U.S.
FINANCIAL TIMES
China
China house price surge is over, says statistician
Further signs of slowing in investment as Beijing struggles to rebalance economy
an hour ago
by: Yuan Yang in Beijing
China’s chief statistician has called an end to roaring house price inflation. The sector’s “high-growth period is over”, said Sheng Laiyun, head of the National Bureau of Statistics.
Rampant home prices have been a hallmark of China’s economy, with the latest rally, which began in mid-2014, fuelled by easy credit. Prices were driven up by as much as 60 per cent in top-tier cities such as Shenzhen and Shanghai during the past 12 months.
Overall urban house prices per square metre have more than tripled since the then-embryonic private housing market took off at the turn of the century.
Mr Sheng said after announcing broadly downbeat data that point to a deceleration of growth in housing and fixed asset investment: “There are big differences [in housing] between regions. But overall we can draw one conclusion: the high-growth period is over”.
Real estate investment and sales slowed for the third successive month in July, suggesting that economic growth would moderate in the third quarter after increasing 6.7 per cent over the first six months of this year.
The sector contributed 15 per cent of economic growth in the first quarter, according to government statistics; a figure that swells further if related sectors such as cement, iron and other materials are included.
Chi Lo, senior economist at BNP Paribas Investment Partners, estimates that the real estate sector ultimately accounts for more than half of total economic investment.
“The real estate sector has always been the cornerstone of the Chinese economy,” said a researcher at the China Index Academy, a real estate research group. “We’re likely to see property sales decrease in the second half compared with the same period last year. Prices will continue to rise but the rate of increase will slow.”
For the economy as a whole, growth in fixed-asset investment fell to 8.1 per cent year-on-year, its lowest rate since 1999. Private sector investment increased just 2.1 per cent.
“The private sector has lost its animal spirits,” said Mr Lo. “There is a structural brake in the private sector’s expectations on growth.”
…
“structural brake”
Somebody’s Freudian slip is showing.
Just a quick comment on Rick Caruso, of 8500 Burton Way fame. Rick’s shopping centers are stunning, his attention to detail is smitten, and everything he touches, the cities here in So Ca, will bend over backwards to support. His Mixed-Use property in Glendale, Ca has Dodgers as apt owners. He is a brilliant developer. The Grove in Los Angeles, has more annual visitors than Disneyland, I’ve heard.
That being said, how about some average folk digs.
Anything is possible with dumb.borrowed.money. Including tears of default.
How many people are working and how productive are they?
Who are you gonna pay more?
a guy digging a ditch with a shovel?
a guy digging a ditch with a backhoe?
That is productivity. The more productive people are the more they get paid.
How are wages gonna go up when productivity is going down?
Do you really believe wages will triple or quadruple to meet grossly inflated prices?
Of course not.
Demand will continue to crater to new record lows until prices fall to meet wages.
It’s the way the world works.
Bad news for feminist spinsters.
http://www.breitbart.com/tech/2016/08/09/facebook-study-cat-owners-more-sad-and-lonely-than-dog-owners/
I wonder how the Cat Lords fare in life? They’ve already got it knocked with the name and the cattitude:
Is the rental market finally hitting a wall as tapped-out Americans are unable to pay higher prices?
http://wolfstreet.com/2016/08/11/rents-primary-markets-apartment-condo-glut-miami-san-francisco-new-york/
‘No one was prepared for this. The slowdown started a year ago when the resale inventory began to balloon.’
Yeah, I was all over it.
No, Ben. This was “unexpected” hence no one saw it coming. The lapdog media said so. You mustn’t challenge The Narrative.
RIP, rule of law. Wait until the DNC has its permanent Democrat supermajority of dependency voters, and can then ensure all of our institutions of governance are staffed by corrupt, co-opted Democrats who will aid and abet massive, systemic corruption. Collectivists gotta collect - from the producers. Forward!
http://www.zerohedge.com/news/2016-08-11/justice-department-prevented-fbi-probe-clinton-foundation-reporters-slam-state-depar
“NYC Home Vacancy Rate Hits July Record, Benefits Renters”
http://www.metro.us/new-york/new-york-city-home-vacancy-rate-hits-july-record-benefits-renters/zsJphj—0aNmzbQv2oR1M/
Education Level Emerges as Sharp Dividing Line in Clinton-Trump Race
Clinton wins the college-educated segment by 25 percentage points, while Trump’s edge among those without a college education is 10 points.
There are many demographic fault lines emerging in this year’s presidential campaign, but few are deeper than the division among likely voters based on educational attainment.
Those with the least number of years of education are far more likely to support Donald Trump, while those who have had the most schooling are much more likely to back Hillary Clinton, according to a Bloomberg Politics national poll released this week.
“The presence or absence of a college degree is more predictive of the vote in this election than we’ve seen in past elections,” said pollster J. Ann Selzer, who oversees many political surveys for Bloomberg Politics.
Another trend may also be developing in the campaign that could pose a threat to Clinton: apathy among potential voters under age 35.
Both of these subplots were revealed in the new poll, with educational level offering the starkest contrast.
Clinton wins the college-educated segment by 25 percentage points, 59 percent to 34 percent. Trump’s edge among those without a college education is 10 points, 52 percent to 42 percent.
Trump’s lead is 4-to-1 among white men with less than a college degree, 76 percent to 19 percent. Clinton’s advantage with college-educated women is 64 percent to 31 percent.
That’s vastly different from what was recorded in the 2012 presidential election, when exit polling showed 47 percent of voters were college graduates. In that contest, President Barack Obama only narrowly beat Republican challenger Mitt Romney among college graduates, 50 percent to 48 percent.
http://www.bloomberg.com/politics/articles/2016-08-12/education-level-sharply-divides-clinton-trump-race
Irrelevant
Irrelevant.
There are those who have gone to college, and there are those who have not. It does not indicate the level,of intelligence.
Intelligent people do not want any master.
Yeah right? No one will tell the truth to the pollsters in this day and age.
Dan should have thought of that argument instead of referencing Rasmussen.
Until the Keynesian lunatics at the Fed are reined in, asset bubbles will be the new normal.
http://libertyblitzkrieg.com/2016/08/11/palo-alto-planning-commissioner-quits-due-to-high-cost-of-housing/
Brookline, MA Affordability Surges As Housing Prices Tank 15% YoY
http://www.movoto.com/brookline-ma/market-trends/