Too Expensive To Rent And There Are Too Many
A report from USA Today. “Apartment building owners are struggling to rent many of the luxury units that have flooded downtowns across the country in recent years even as a relative shortage of multifamily homes in the suburbs has driven up rents. The downtown building frenzy has been well-publicized as developers cater to Millennials, among other age groups, who have streamed into revitalized cities to be closer to amenities, nightlife and a car-free lifestyle. According to real estate research firm CoStar, however, builders may be putting up too many apartments — most of which are at the high end of the market — in the urban hubs and not enough in outlying areas.”
“Over the past four years, the vacancy rate in downtowns and adjacent districts has climbed from 3.4% to about 5.5%, CoStar figures show. Although new apartment complexes typically take some time to lease up, many units have been sitting empty longer than normal. Nationally, new apartments had an average 52% vacancy rate when they opened in the first quarter of 2013, and the rate for those dwellings fell to about 11% within 18 months.”
“By contrast, new units opening in the first quarter of 2015 had a 72% vacancy rate that declined to 18% over a similar period. The higher vacancies were driven by luxury buildings in central business districts, says CoStar Chief Economist Hans Nordby.”
“The city-suburb split is playing out in metro areas across the country but it’s particularly acute in large cities such as Los Angeles, Washington and Chicago. In Los Angeles, about 5,500 apartments have opened downtown the past 3 ½ years, with typical rents of about $6,500 a month, and the district’s overall vacancy rate has climbed from 4.5% to 9.9%, according to CoStar data. Niko Deleon, owner of Niko LA Leasing in Los Angeles, says most high-end downtown buildings have been forced to offer amenities such as free rent for up to six weeks.”
“‘These new flashy, splashy downtown buildings — they have a vacancy problem,’ Nordby says. ‘They are too expensive to rent’ and there are too many of them. At the same time, he says, ‘There’s not much supply of new apartments in the suburbs.’”
‘‘These new flashy, splashy downtown buildings — they have a vacancy problem’
And with tens of thousands on the way, they’ll have a cash flow problem.
‘new units opening in the first quarter of 2015 had a 72% vacancy rate that declined to 18% over a similar period. The higher vacancies were driven by luxury buildings in central business districts’
18% is not good. Somebody isn’t going to retire. Is it possible to move these buildings? No, I didn’t think so. Those bocci ball courts must weigh a ton.
How can you get a glut of luxury building in central business districts all over the country without a heaping helping of central planning? I don’t know the details, but I know a smoking gun when I see one.
Yep, like Boston’s past mayor, he called on their planning committees to assist in the redevelopment of the seaport district back in the mid 2000s. Ffwd to today, and its crawling with expensive all glass condo buildings and American Bistro’s with Edison bulbs.
‘Apartment construction in the Northeast fueled a jump in home building in July as the pace of housing starts nationwide reached their strongest pace in six months.’
‘The rate of overall construction rose 2.1 percent to a seasonally adjusted annual rate of 1.21 million from 1.19 million in June, the Commerce Department said Tuesday. That was the highest level since February. Most of the gain came from an 8.3 percent acceleration in the construction of multi-family buildings. Construction of single-family houses edged up just 0.3 percent.’
‘Ground breakings for houses have shot up 10.6 percent year-to-date, while starts for apartment buildings have dipped slightly after a torrid pace in recent years to accommodate an increase in renters.’
‘to accommodate an increase in renters’
There’s going to be a glut of cardboard boxes once all these rich renters move into their luxury apartments.
Ha. 8.3% spike in multifamily. Nothing like sharing walls and paying HoA fees. It’s amazing to see the build quality of these apartment complexes too. This one right off I95 heading towards Boston is nearing completion and its only been a few months. One minute I’m seeing the concrete stairwells/support, next thing the building is framed and ready for siding. MOAR APARTMENTS!!
As if 18 million excess empty housing units in the US aren’t enough.
How did so many city planners in so many places get the same bright idea at about the same time?
How did so many city planners in so many places get the same bright idea at about the same time ??
Its the developers not the planners…The developers meet with the planners…They tell them, give me the zoning and we will build it…City see’s fee’s & employment…Couple that with 3% money for the developers and there you have it…
“How did so many city planners in so many places get the same bright idea at about the same time?”
Smart Growth Agenda 21
And fat brown envelopes.
“chic”
http://boise.craigslist.org/apa/5700797940.html
You’re not a chic lola.
Berlin, CT Housing Prices Crater 18% YoY
http://www.zillow.com/berlin-ct/home-values/
They have to build higher than that to be above the inversion smog layer.
Hehe… “chic” and Craigslist don’t belong together.
Rockledge, FL Housing Prices Dive 8% YoY
http://www.zillow.com/rockledge-fl/home-values/
Market temperature
Cold
LOL!
Which candidate is most likely to declare a new war before even setting foot into office?
Which HBB poster is looking to troll the blog into an anti-Trump poo-flinging session?
If Trump succeeded in declaring a “war on bigotry and hatred”, would he have to ban himself? My head is spinning over the possibilities…
You worry too much. Take a patriotic break:
https://www.youtube.com/watch?v=9IF5TXl8u4c
BTW, did anyone know that Jimi Hendrix picked up his guitar tricks from Drake Levin?
https://en.wikipedia.org/wiki/Drake_Levin
My ex neighbor was a musician and pharma student at UCLA back in the day, he told me he told Jimmy, mixing those drugs will kill ya. True story.
If linking to factual articles in established sources which document exactly what Trump said yesterday seems like”poo flinging”, then I apologize. Apparently nobody can control what comes out of Trump’s mouth.
Apparently nobody can control what comes out of Trump’s mouth ?
Ya think….
+1 PB.
Trump worshippers…my word!
Almost as bad as Hillary worshippers!
“Almost as bad as Hillary worshippers!”
And as bad as Obama worshippers of 2008.
“Almost as bad as Hillary worshippers!”
Anybody who doesn’t fawn over The Donald is clearly in love with both Hillary and Obama. That’s the way of the black-and-white world we inhabit.
I get that all the time.
I am not a Republican. “Well obviously you are a Democrat!” Um, no. “Well then you are a leftist!” Um, no.
I am not a Democrat. “Well obviously you are a racist!” Um no. Well obviously you are a republican!” Um no.
Lots of retarded people wear the partisan blinder headgear.
Is anyone still pro-Trump? He flipped flopped on the Muslim ban, next up, “no wall.” And his tax cuts will be a Kansas moment.
They have flip-flopped with him. They were once anti imperialism and anti war and anti surveillance state. They’ve become in favor of all since Trump has too. He is their deity.
They gotta adjust themselves to the Trump narrative. That way they can still pretend Trump is anti-establishment/anti-state.
‘They gotta adjust…That way they can still pretend’
The courts should be protecting us from stuff like the NSA, Obamacare, etc. They aren’t. What kind of courts do you think we’ll have if Clinton picks 4 or 5 supreme court seats? I’d bet way worse than what we face now.
“The courts should be protecting us from stuff like the NSA, Obamacare, etc. They aren’t. What kind of courts do you think we’ll have if Clinton picks 4 or 5 supreme court seats? I’d bet way worse than what we face now.”
As if by electing Trump, the courts would suddenly protect us from all that? And The Patriot Act, NDAA, TSA, and surveillance was also part of the George W Bush administration, you know that Ben. The courts are not the executive branch. It does not control them.
It does not matter. The whole system was designed of, by, and for the elites from the start. James Madison and the gang were the ones who wrote e constitution, they were Federalists. The bill of rights was tossed in as a last resort. The statement “congress shall have the power to,lay and collect taxes” was one of the things that killed the American Revolution in 1788.
Not only that but the president is constitutionally the highest office in America. But in reality it is not the highest office. People arguing about Trump versus Hillary don’t think of that.
“What kind of courts do you think we’ll have if Clinton picks 4 or 5 supreme court seats? I’d bet way worse than what we face now.”
Trump is betting that kind of logic will guarantee him Republican support, no matter what kind of outrageous things he says or does.
His big mouth is his own worst enema.
‘As if by electing Trump, the courts would suddenly protect us from all that?’
Avoid the issue why don’t you? Will Clinton make it worse? With 4 or 5 picks, it’ll be worse for the rest of our lives.
Why is everyone so worked up over what Trump or Hillary says? The feigned outrage is getting old and I just kind of tune it out.
He talks like normal people talk to each other. Stop clutching your pearls and get on with your life.
Politics Election 2016
Donald Trump Calls for a New War on Terror
GOP nominee says limits on immigrants needed to fight groups like Islamic State
Republican presidential nominee Donald Trump called for an ideological “screening” test for all people entering the country as part of his plan to combat terrorism and Islamic State. He also called for temporarily suspending immigration from volatile regions of the world.
Photo: AP
By Janet Hook and Beth Reinhard
Updated Aug. 15, 2016 11:49 p.m. ET
Donald Trump, expanding on the provocative immigration ideas that have propelled his presidential candidacy, proposed on Monday a new ideological test that would limit immigrants seeking admission to the U.S. to “those who share our values and respect our people.”
…
Terrorism and Trump
Trump’s foreign policy speech offers more insights into the man than the plan
Aug 15th 2016, 16:33 by LEXINGTON | WASHINGTON, DC
Timekeeper
A HEAVILY trailed speech by Donald Trump on counter-terrorism, delivered in Ohio on August 15th, included little that made sense as a plan for keeping America safe, but offered some fresh insights into the self-obsessed, fact-scorning temperament of the businessman who wants to hold the world’s most powerful job.
As his poll numbers slide and the murmuring from his allies grows in volume, Mr Trump increasingly sounds like someone with a political version of Tourette’s Syndrome. Much of the speech could have been given by any of the 16 Republicans that the businessman defeated for the party’s presidential nomination, amounting to a committee-drafted recital of conventional conservative talking points.
…
Ooh Poo Pah Doo:
https://www.youtube.com/watch?v=BRhMC-lcJIo
You realize the WSJ and the Economist are globalist rags that no one listens to anymore? Here’s a Q and A: which family is responsible for more needless, innocent deaths, Clinton or Bush? Answer: we don’t know because there are thousands dying every month in Iraq, Libya and Syria, so we won’t have the final tally for years.
Also, this is the housing bubble blog. You’ve not going to change anyone’s mind here so why waste your time and mine?
“…which family is responsible for more needless, innocent deaths, Clinton or Bush?”
I would happily vote for a candidate who denounced policies that led to thousands of innocent deaths. Are you sure declaring a renewed War on Terror is the way to go?
Just answer the question, Prof. Again, here it is:
” so why waste your time and mine?”
Da Meddle Fanger!
‘I would happily vote for a candidate who denounced policies that led to thousands of innocent deaths’
Uh, one has said no more nation building. No more regime change. Allies should defend themselves; no more worlds policeman. This is substantive, needed change. I’m not going to waste my time with articles about FB’s sticking their thumbs in a pinata, which is about all we get anymore.
“Da Meddle Fanger!”
That’s a great way to refute any views that disagree with your own.
Frankie say Relax:
https://www.youtube.com/watch?v=7WZ33w3B8Hw
Now, Prof, if you’re that concerned, here’s a little task for you:
These two Senators are trying to make a difference and stop the gubmin from doing something that will have horrific consequences. You might give one of your Senators a quick jingle in support of their actions:
http://www.zerohedge.com/news/2016-08-16/these-us-senators-are-actually-trying-stop-government-doing-something-terrible
Well, I just made my phone calls. How about you, prof? scdave, how about you? Doesn’t take all that much time. Link is posted above. Tell your senators to block that deal. There’s the real “hatred and bigotry”. You could at least speak out against it, OK?
Just like I thought. crickets.
“Uh, one has said no more nation building. No more regime change. Allies should defend themselves; no more worlds policeman. This is substantive, needed change. I’m not going to waste my time with articles about FB’s sticking their thumbs in a pinata, which is about all we get anymore.”
And he’s also said that a good start in terms of how much we should reduce military spending is to follow the Pentagon’s own recommendation of 20%.
That kind of crazy rational logic will never work. We should arm each American with their own billion dollar plane.
He’s just “linking to factual articles in established sources”.
You’re not going to change anyone’s mind here
this is a fact. to change would rock your foundation, everything the people believed might be wrong. too much pain.
Best to keep it local.
‘to change would rock your foundation’
This is the problem with discussing politics with a bunch of anonymous people on the internet. Your response is something you might see on Jerry Springer, not political discourse. I was against globalism, policing the world, regime change, nation building and war in general before I ever knew who Trump was. Ask anyone who has read this blog for a while.
I used to be an open borders libertarian until I moved 30 miles from Mexico for 5 years. Living in an area that was basically come and go as you wish, I realized it wouldn’t work. I thought about living in Mexico, and saw how difficult their government makes it. Unlike the way our government handles the reverse. I came to believe you can have a safety net, or open borders, but not both.
I also came to see NAFTA was a raw deal, even thought it is sold as free markets (I’m a libertarian remember), I found out it was a corporate scam, especially when I looked into becoming a NAFTA broker while I was living on the border. I read the study material; it’s free trade only for big corporations, not you and me. The WTO is even worse.
NATO is the globalists tool for empire. I came to believe that years ago. And that globalism is possibly the single biggest problem the US and world faces. And it can be gotten rid of. We’ll never want to see it’s ugly head again.
I was against the Clinton’s when they gassed, shot and burned those people in Waco. I was against their 10,000 bombing sorties in Iraq, and all their other military disasters. I was against the same stuff with the Bush people.
I was against the Iraq war. I was against nation building there and in Afghanistan. I have been against the creep back into Iraq. I was against the Libya fiasco and what’s happened in Syria. I think it’s wrong for the US to support dictators in Yemen, Egypt, Jordan, Bahrain, Saudi Arabia, etc. All the crap Kissinger did, the CIA in general, the list goes on and on.
Now all this said, do you really think I came to have these positions when Trump ran a year ago? Or has he been saying what a lot of people believe themselves? If it’s the latter, that’s how politics works. You take a position, see who sides with you and you vote. What you don’t do, if you are serious about these things, is create or copy some pigeon holes and start lumping millions of people into them and calling them names.
I presume this is why there is a Ban Van wheeling around the HBB neighborhood hauling a trailer full of RageCages everyday.
I haven’t banned anyone recently. When I do, it isn’t because I don’t agree with what they are saying. I’m paying for this; if you are a jerk, yeah you might get banned. Just like being a jerk might get you thrown out of a lot of places.
I saw some ban requests here yesterday or the day before. Seems like it was coming mostly from leftie types.
“mostly from leftie types.”
I’m off the hook then.
Neither left wing nor right wing, but voluntaryist.
voluntaryist.com
Translation: a prancing prat, gesticulating and pouting and shaking an effete fist at the sky while ejaculating holier-than-thou dogma. Irrelevant, in other words.
Ben, I completely agree with your positions. Just saying, good luck getting people to change their “beliefs.” (not truth)
I am a fiscal conservative who likes the great outdoors.
You are very revealing in your fantasies about me RKH. Do you like the color pink?
“I was against the Iraq war. I was against nation building there and in Afghanistan. I have been against the creep back into Iraq. I was against the Libya fiasco and what’s happened in Syria. I think it’s wrong for the US to support dictators in Yemen, Egypt, Jordan, Bahrain, Saudi Arabia, etc. All the crap Kissinger did, the CIA in general, the list goes on and on.”
When and if you run for president, I will vote for you.
we need a war on Ebonics, the functional illiteracy today is mind boggling
Or else dignify illiteracy by calling it Ebonics…
bahhhhhhhhh dats a fact jack
As a fiscal conservative, the USA can not afford Trump and his: wars, walls, deportations, military build up, tariffs and tax cuts on the rich ….
bingo
So much for these “anti imperialism” types. They toss that out the window so that they can adore their God.
Hilary has libia on pre heat
plus the A-rabs will have to challenge a woman
w trump it’s 2 nukes and out
Can we still get to the oil if we nuke em? Exxon wants to know.
You may not remember, but there was a crazy song from around 1979 called something like Let’s Use the Ay-rabs to Test the Neutron Bomb. I’m not sure if they ever got built, but neutron bombs were supposed to kill lots of people without destroying buildings and other infrastructure.
http://www.cbc.ca/news/canada/british-columbia/property-transfer-tax-chinese-student-1.3719106
I don’t know if there’s much I can say about this other than “HA HA”. I find these people even more contemptible than equity locusts from California.
Typical real estate bullshit. I live here at the epicenter of the imploding bubble and she will indeed be grateful when the dust settles, that she, rather her money laundering political refugee parents could not complete this impending financial disaster. Love how there is never a mention how these marginal “investors” pushed out all but the most financially illiterate locals.
Fake Yuan, buying (or now trying) to buy real property. haha
I don’t understand my “millennial” peers and the need for the “downtown” life. It basically comes down to drinking every weekend and spending too much on brunches. I’m glad my early career was spent traveling to major cities for ship repair projects and I got it out of my system (company paid of course). 2 months downtown and I was ready for the slower suburbs, and the chance to drive/park wherever I pleased instead of either paying $25/hr or searching for that one street spot 3 blocks down.
“It basically comes down to drinking every weekend and spending too much on brunch.”
The gainfully employed millennials I know seem disinterested in marriage or starting a family, which leaves plenty of money for booze and brunches.
I know more than a few who are married or are interested in getting married.
Kids? That’s another story. Hard to go bar hopping with hubby or wifey and friends or go on weekend ski trips if you have a kid. Eventually, as wifey approaches the tail end of her fertile days they might have a kid; but only one.
This. In the South, being married young is almost a right of passage. When I moved closer to Boston, a lot of women wait until their late 20s-early 30s, then have 1 or maybe 2 kids in their mid 30s. Generationally girls now are taught to establish their career first and foremost.
I have read in a few places the prediction that as many of 25% of American females now under age 40 will likely never have children.
Most of my friends are single, DINKs, or divorced.
The saddest thing I’ve noticed about friends who have kids is that none of them seem to read books, ever.
I started reading more books once I had kids. My own books plus the ones I read to the children.
Apt — that might be true for the white girlz on tindr. But the Hispanic immigrants are more than picking up the slack. If whites don’t fills the houses and schools, browns will.
I think it will be at least a couple of generations before the culture allows for mass numbers of career-minded girls.
Hey Donk.
And BAM as soon as they have a kid, it’s house-hunting in the suburbs with a good school district. Same as it’s always been.
That history is fading slowly, never to return.
What are you talking about? The schools in my suburban area are bursting at the seams - they no sooner get a new one built and within a year there are a half-dozen portables sitting where the playground used to be.
Plenty of wealthy, young married H1B millenials, pulling in $250-300K per year and popping out kids. And they don’t want to live in the city.
Shrinking demographics my friend.
Housing a smaller pool students in temporary classrooms while a replacement school is built to replace a an old school is nothing new.
In my early 20s I watched enough of my older friends’ and coworkers’ marriages fail to at least make me think twice about getting married. As with decisions related to housing there’s an emotional component and an economic component, and there’s a lot of people out there who try to manipulate your emotions to make you forget the economics.
Being single may not be optimal in all cases, and being happily married is probably preferable to being single. On the other hand, the Court isn’t going to order me to pay money to someone I don’t like, or to children I can’t see but once a year because the ex has custody and has moved them out of state.
I think it’s part rebellion for these millenials growing up in the burbs themselves and part that their peers can’t afford the suburbs and not too many young people are getting married and having kids. I hear the stories from my younger friends who live in the city and they are all single and childless - no reason to move out to a suburb just yet.
friends who live in the city and they are all single and childless - no reason to move out to a suburb just yet ??
Exactly…
With the cratering birth rate and population growth the lowest in US history, it’s likely they never will.
I’ve lived in urban neighborhoods most of my adult life and have never lived downtown. 3-5 miles out from the CBD is the sweet spot.
Especially with UBER these days. But still in places like Boston or SF, 3-5 miles, youre still paying close to downtown prices.
Parking in any urban area drives me to the edge of madness… even if I’m not the one driving. A city is no place to have a car.
Yes, in my projects I always opted out and utilized public transit.
Driving in the city stresses me out. On topic, the kids move in to the city to enjoy the $2,000 a month dream, craft cocktails on Fridays, or 90s nights, and make minimum payments on that $50k student loan.
I like to just wander around, look at the architecture, and watch everybody. For everything that’s available in a city, there’s not much I really want.
Cities are where the big bucks are made though, and that’s one thing I DO want.
I’ve actually been surprised by the income some of my pals in the city make. Up here in Boston I have friends in major consulting firms, insurance brokers, and banks, and their salary to me doesn’t justify the cityt expense. If they were pulling $150-200k, then maybe yes, but none of them are. Maybe when they’re 35-40 they’ll be big shots, idk? Right now they are just competing with hungry immigrants who will work to the bone for nothing.
Buying a Multi-Million Dollar Condo is the Only Way to Get into These Exclusive Restaurants
A number of residents-only restaurants are popping up at some of New York and Miami’s most exclusive residential buildings
BY KATHRYN HOPKINS
Pet spa? Check. Swimming pool? Check. Turkish-style hammam? Check. Porte cochère? Check. New York’s posh apartment buildings have been in a race over the past couple of years to outdo each other when it comes to super amenities.
But last month, Macklowe Properties and CIM Group, 432 Park Avenue’s developers, pulled out their trump card by announcing that they had hired Michelin-starred chef Shaun Hergatt to run the skinny skyscraper’s residents-only restaurant.
The Australian chef, formerly of the now-closed Manhattan eatery Juni, will run the unnamed restaurant, which will occupy the whole of the 12th floor of the tallest residential building in the western hemisphere, whose most expensive apartment to date changed hands for $95 million last year.
“Ultra-luxury condos have elevated the amenities to meet the demands of sophisticated domestic and international buyers who don’t just appreciate, but expect, a certain level of service within their urban homes, especially in buildings with prestigious addresses where apartment asking prices are exceeding $100 million,” said Louise Forbes, a broker at Halstead. “Private dining rooms and restaurants are the ultimate in exclusivity.”
http://www.mansionglobal.com/articles/36592-buying-a-multi-million-dollar-condo-is-the-only-way-to-get-into-these-exclusive-restaurants
How long until they come with a concubine, like they did in the movie “Soylent Green”?
….to say nothing of the tricked out video game system in that apartment.
Takoma Park, MD Housing Prices Collapse 24% YoY As Housing Correction Expands
http://www.movoto.com/takoma-park-md/market-trends/
40 sales? and price per sq ft up
HA !
Data va_donk……. data.
Vienna, VA Housing Prices Crater 7% YoY
http://www.zillow.com/vienna-va/home-values/
What she says would make more sense but it would probably end badly.
Burn Down White Suburbs, Sister of Man Killed by Milwaukee Police Urges Rioters
“Take that sh*t to the suburbs. Burn that sh*t down! We need our sh*t! We need our weave!”
Paul Joseph Watson - August 15, 2016
Video footage shows the sister of the man shot dead by police in Milwaukee calling on rioters to burn down white suburbs instead of their own neighborhoods.
“Burning down sh*t ain’t gonna help nothin’,” yells Sherelle Smith.
“You’re burnin’ down sh*t we need in our community.”
“Take that sh*t to the suburbs. Burn that sh*t down!” she demands.
“We need our sh*t! We need our weave! I don’t wear it, but we need it!”
According to police, body camera footage shows 23-year-old Sylville K. Smith aim a gun at officers before he was shot dead by an African-American cop.
The incident sparked a wave of violent unrest that continued through Sunday night.
Milwaukee is the most segregated metropolitan area in the United States, with whites almost exclusively living in the suburbs.
Between 1950 and 1990 there was a “white flight” from Milwaukee County into Waukesha County and suburbs of Milwaukee.
Smith’s call for rioters to stop burning down their own communities is being reported by the media as a rebuke to those behind the violence.
However, in reality she is really just calling for the mayhem to be inflicted on the suburbs, or in other words – where all the white people live.
Milwaukee Alderman Khalif Rainey responded to the weekend’s violence by tacitly threatening more riots if “oppression,” “unemployment” and “injustice” wasn’t addressed. Rainey failed to explain what this had to do with an armed man with a lengthy criminal record aiming a gun at police officers.
As we reported yesterday, the white people brave enough to venture through Milwaukee on Saturday night were directly targeted for racial attacks, with rioters yelling, “they white, get their ass!,” as they attempting to drag white drivers out of their vehicles.
Don’t expect a DOJ investigation or a national media “hate crime” outcry any time soon.
any of these good doing folks work?
plenty of ammo in my burb
This woman is actually a voice of reason in a sea of insanity. She should travel with Trump and speak at rallies. She could be his female african american.
The statement that Milwaukee is the most-segregated metropolitan area in the US is pure bunk. The city of Detroit proper is 91% black, and there are several other cities up there with Detroit (Gary, IN, East Chicago, etc.).
As if it makes a difference - it isn’t a contest. But let’s reverse the situation - what if whites in the suburbs were calling for arson in the black neighborhoods? Do ya think that MSNBC might be all over that one?
You’re comparing a “city proper” with a metropolitan area. That’s two different things.
91% black means the white people pretty much segregated themselves out of Milwaukee.
got civil war and ratings?
Whats our Clown in Chief got to say about black on black violence?
He sure is quick to get on TV for a white cop shooting.
Why does the POTUS need to comment on everything? If you dont like your ghetto….move. The POTUS is not going to move you. Let the POTUS focus on fed issues, the states can handle the local problems. Milwaukee is the 6th poorest city, of course it sucks to live there.
But… the POTUS is omnipotent, and can shoot laser beams from his eyes! Why won’t he help us?
Trump is POTUS already? Who knew?
Via his time machine, of course!
Between 1950 and 1990 there was a “white flight” from Milwaukee County into Waukesha County and suburbs of Milwaukee.
i’m sick and tired of this lying excuse for what really happened
parents saw the next generation of kids on a JAIL track and not a college one so they moved, and guess what? black parents did the same.
maybe Zillow should offer multi year re tax projections along w price prognostications
chighetto -10-20% ??
Bayside Queens, NY Affordability Surges As Housing Prices Sink 4% YoY
http://www.zillow.com/bayside-new-york-ny/home-values/
Not to be left out, China gets involved with the “conflict” in Syria, working with Assad. What a clusterfark.
http://www.zerohedge.com/news/2016-08-16/china-sides-russia-syrian-war-will-provide-aid-and-military-training-assad
I had a bitter laugh at that one, but in fact it might finally end the “conflict”. I think Obama may be done with this, wash his hands of it and turn it over to Kerry and Ash Carter to resolve. China’s entry into the fray is probably just a bridge too far and may force people to the realization that the Saudi “alliance” and the policy of regime change on their behalf is just not worth it anymore.
As long as Assad doesn’t threaten Obama’s daddy, we can get past this.
Frank Marshall
At some point I think China is going to offer the Saudi royal family a deal they can’t refuse: be our protectorate and let us defend you, or we will throw our full support behind Iran and the Shias who are quite capable of kicking your ass and who occupy the Eastern Province which holds your oilfields. Hello PetroYuan, adios Petrodollar. Hello Yuan as world reserve currency, backed by gold reserves: goodbye FedBux, debased into worthlessness and backed by nothing. Then the Chinese and Russians will laugh with delight while ‘Muricans battle each other for food in the rubble of our collapsed economy.
more reason to go full steam ahead on alternative energy. No need for House of Saud companionship.
“Hello PetroYuan, adios Petrodollar.”
Hehe… Kissinger just plopped a cow-pie in his Depends®.
Not at all - he is the one orchestrating all of this. He’s probably already figured out a way to keep his head alive in a glass jar for another 100 years after his body dies.
The war in Syria can’t be allowed to end until Qatar gets its gas pipeline and Muslim Brotherhood regime in Syria.
http://oilprice.com/Energy/Energy-General/Qatar-Rich-and-Dangerous.html
Another data point from my neck of the woods - see a new listing for a condo that seems unusually cheap (24K). Normally I could care less about condos, but my bro - who also reads hbb - stayed in that condo complex last time he visited. At some point we got to wondering what places in that complex sell for, so I looked it up and saw listings in the 50-75K range. Complex was built in 1979, monthly dues almost 1500/mo (!), easy couple minutes walk to the beach with most having some sort of ocean view.
Anyway, I look up the history of this listing - sold for 53K in 2010. Ouch. But get this - it sold for 240K in 2008. Boom, headshot! That will NOT buff out.
Like I said, we never cleared the market from the last bubble, so where this ends up is any guess.
$1500/mo? Sheesh, there better be armed security 24/7 for that hoopla and a smoothie bar near the pool.
Not really. That’s 75% higher than long term historical rental rates.
I’m guessing someone drowned in the pool and there was a huge lawsuit, and that the bulk of that $1500 is current insurance premium.
$1500/month is a lot for a haunted pool….
I’ve heard of insurance horror stories after a pool accident, though $1500 a month does seem a bit extreme.
In that situation it would make sense to just fill in the pool and get a lower premium.
“sold for 53K in 2010. Ouch. But get this - it sold for 240K in 2008. Boom, headshot! That will NOT buff out.”
Headshot? Not even a skinned knee, that foreclosure victim is probably a Boomerang buyer who has been living in another condo for over a year.
Mortgage Forgiveness Debt Relief Act of 2007
From Wikipedia, the free encyclopedia
The Mortgage Forgiveness Debt Relief Act was introduced in the United States Congress on September 25, 2007, and signed into law by President George W. Bush on December 20, 2007. This act offers relief to homeowners who would have owed taxes on forgiven mortgage debt after facing foreclosure. The act extends such relief for three years, applying to debts discharged in calendar year 2007 through 2009. With the Emergency Economic Stabilization Act of 2008, this tax relief was extended another three years, covering debts discharged through calendar year 2012. Act further extended until January 1, 2014 at section 202 of American Taxpayer Relief Act of 2012.[1]
In the eyes of the Internal Revenue Service (IRS), housing debt that is forgiven or written off is the same as income. If the law expires, forgiven mortgage debt will be taxable. The same applies to foreclosures and to loan modifications in which principal is reduced.
Once the lender writes off the debt, it will report the amount to the IRS. Homeowners should expect to receive Form 1099-C showing the canceled debt amount.
http://www.boisecondosandlofts.com/custompage.cfm?cpid=2148
More downtown lux in a city know for playing outside.
Santa Barbara, CA Housing Prices Crater 12% YoY
http://www.zillow.com/santa-barbara-ca/home-values/
The problem is the price, not the location. They are building luxury housing because speculators jacked up the price of the land.
In the Blue States, many suburbs will not allow multifamily housing because affluent places want to zone out the upper middle class, upper middle class areas want to zone out the middle class, middle class areas want to zone out the middle class, and no one wants to poor.
Have Soros’ payments to MightyMike come to light yet?
http://www.breitbart.com/big-government/2016/08/16/hacked-soros-memo-baltimore-riots-provide-unique-opportunity-reform-police/
charade
Mighty Mike doesn’t do 12 agenda posts in a row every morning… I don’t think he gets as much as you do from the Koch bros.
Yup
Since the early 2000s, Real Estate has become a concept such that fools build their careers upon a residence. Whereas before, people would make a home around their career. If your job moves, no problem. No big loss, you were not committed to a house. Now people would prefer downsizing just to stay in a silly box.
Renting is king.
If your job moves, no problem
That’s never been the case. It’s usually a big pain in the neck if a person’s job moves, even if they’re not homeowners.
I damn near went to that Duffy’s to pick up some wings last night.
UPDATE: Face-biting slaying suspect’s condition worsens, sheriff says
7:05 p.m. Tuesday, Aug. 16, 2016 | Filed in: Crime
5:30 p.m. update: Double murder suspect Austin Harrouff’s condition has deteriorated, and it is not known whether he will survive, Martin County Sheriff William Snyder said during a Tuesday afternoon news conference.
Snyder also said “we may absolutely never know” why Harrouff attacked John and Michelle Stevens.
Snyder said Harrouff was having dinner with his parents at Duffy’s Sports Grille on Indiantown Road in Jupiter when he became upset over an issue with the service and left the restaurant.
He then walked north on Island Way toward his father’s home. For unknown reasons, unknown, he stopped one street short of his home and went to a different house, where he encountered the couple.
The medical examiner has completed on autopsy on John Stevens. The preliminary report showed that Stevens died of multiple stab wounds and blunt trauma. An autopsy on Stevens’ wife, Michelle Mishcon, is still pending.
1:30 p.m. update: It took a Taser, a K9 and multiple Martin County sheriff’s deputies to pull a 19-year-old Florida State University student off the man he had killed and from whose face he was biting off pieces of flesh.
Austin Harrouff clung to 59-year-old John Stevens late Monday in the driveway of Stevens’ home in Jupiter River Estates. He was delusional, deputies said.
In the garage was Stevens’ 53-year-old wife Michelle Mishcon, also dead from stab wounds.
Harrouff has no criminal record, Snyder said, and was getting good grades at Florida State, where he was a pre-exercise science major.
And the brutal attack was random, Snyder said. Doctors have tested the teen, who is currently in a Palm Beach County hospital, for drugs like cocaine, opiates, meth and marijuana — all of which had negative results.
The Stevens’ home is in an unincorporated area of Martin County west of the village of Tequesta.
The teen took off some of his clothes during the attack, Snyder said, but did not have the raised body temperature characteristic of flakka use. When he arrived at a hospital, Harrouff was making “animal-like noises” and incoherent, Snyder said. Doctors will be testing Harrouff for bath salts and flakka.
“It’s inexplicable,” Snyder said. “The motive is still not clear what pushed a 19-year-old Florida State student to do this.”
http://www.palmbeachpost.com/news/news/crime-law/family-member-ids-two-people-found-dead-at-tequest/nsGgj/ - 191k -
“Doctors will be testing Harrouff for bath salts.”
There it is. Snorting bath salts. I bet he’s a realtor.
Mary Hopkin - Those Were The Days - 1968 - YouTube
https://www.youtube.com/watch?v=y3KEhWTnWvE - 285k -
Once upon a time there was Obama
We would always raise a glass or two
Remember how we laughed away the hours
And dreamed of all the great things he would do
Those were the days my friend
We thought they’d never end
We’d sing and dance forever and a day
We’d live the life we choose
We’d fight and never lose
For we were young and sure to have our way.
La la la la…
But eight years they just went rushing by us
We lost our starry notions on the way
If by chance I’d see you in the White House
We’d smile at one another and we’d say
Those were the days my friend
We thought they’d never end
We’d sing and dance forever and a day
We’d live the life we choose
We’d fight and never lose
Those were the days, oh yes those were the days
La la la la…
Just tonight I stood before the White House
Nothing seemed the way it used to be
In the glass I saw a strange reflection
Yes Donald Trump was looking out at me
Those were the days my friend
We thought they’d never end
We’d sing and dance forever and a day
We’d live the life we choose
We’d fight and never lose
Those were the days, oh yes those were the days
La la la la…