Those Panicked Phone Calls From Landlords
A report from Bloomberg on Canada. “Canadians may finally be getting skittish about real estate. The share of survey respondents who expect a decline in local housing prices jumped by 8.5 percentage points, the most since weekly polling began three years ago for the Bloomberg Nanos Canadian Confidence Index. The increase to 20.5 percent from 12 percent dragged the broader sentiment index down from 2016 highs. The reading marks a change from almost unbridled consumer optimism in a housing market that has carried the Canadian economy since the 2008 global financial crisis, even as policy makers warn price gains in some cities are unsustainable.”
“‘If there was to be a bit of a slowdown I don’t think it would be surprising given the strength that we’ve seen in the market over time,’ Bank of Montreal Chief Financial Officer Tom Flynn said of the Vancouver market in an Aug. 23 phone interview. ‘We’re protecting ourselves from a risk perspective by having higher levels of equity down payments on more expensive properties, and we’ve been doing that for a period of time.’”
The Canadian Press. “Canada’s mortgage insurance agency is reporting a 52 per cent increase in the number of insured home loans in arrears in Alberta, as low oil prices weaken the provincial economy. Canada Mortgage and Housing Corporation says in its second-quarter report that payments on 1,487 mortgages in Alberta were three months or more overdue as of June 30 — up from 978 at the same time in 2015. Saskatchewan’s list of troubled mortgages is also up, to 529 from 392, in the same period.”
The Western Wheel. “A slowing real estate market is leaving an impact on the rental market in Okotoks, forcing many landlords to drop their monthly rates. Web-based rental listing site RentFaster.ca showed an average of approximately 25 to 30 rentals available in Okotoks in 2014, but as of Aug. 23, there were 52 listings in town on the site. Rent in Okotoks, according to RentFaster.ca, varies from $800 for shared accommodations to $3,000 for a single detached four-bedroom home. The average rent in town currently sits just over $1,550.”
“Prairie Management and Realty Inc. office administrator Jennifer MacTavish said slow home sales is driving many to list their homes for rent. The result is a number of large, single-detached homes being put on the rental market alongside the typical condos and suites. There has also been an increase in the number of homes being offered as rent-to-own properties, she said. ‘The sales market was low, so a lot of people weren’t selling or getting what they asked for, so in turn they decided to rent their homes,’ said MacTavish. ‘There just isn’t a market for homes over $700,000 to $800,000.’”
“With so many properties available and a slow economy, she said many landlords have been forced to reduce their rents or provide other incentives. Prairie Management acts as a liaison between homeowners and renters, often in cases where owners have moved away and can’t manage the property on their own. When tenants are difficult to find, they often make suggestions to their clients on how to attract renters, she said.”
“‘We’ll talk to them and say, ‘You’ve had it up for rent for three months now, there’s been no serious inquiries, we should maybe consider other options like a first month off or something to make it more appealing to the public,’ said MacTavish.”
“Landlord Chantel Van Buren has owned a rental property in Crystal Shores for more than 10 years and has dealt with other rental properties for more than 18 years. Initially, she and her husband purchased the home to live in while their own house was being built. Van Buren listed the home for rent at the end of June but said she was not receiving nearly as many inquiries as in past years. This month, she lowered rent on the property to match a reduction in rent across the board, and is offering the first week free to the right tenant.”
“‘We try to keep our rent at or below what the current rents are because we would rather have quality tenants that are going to look after our property and stay for a while,’ said Van Buren. ‘At the same time, we have mortgage payments to make and all the rest of our bills go up every year, so it is a balance.’”
From Global News. “Post-secondary students head back to class in September, which means time is ticking for those who have yet to find a place to live. The good news in Calgary is there are still many apartments available in prime locations — and for prices that won’t break the bank. It’s the one silver lining to Alberta’s badly bruised economy. Vacancy rates are up about eight to 10 per cent in Calgary, according to Mark Hawkins from Rentfaster.ca. That’s compared with three per cent last year.”
“Rent near Mount Royal University is down about 16 per cent from last year. By the University of Calgary, it’s down about 18 per cent. The number of available units is between 10 and 20 per cent higher near these schools. ‘I’m just starting to get those panicked phone calls from landlords who would usually have their apartments rented by now,’ Hawkins said. ‘There’s a glut of supply and students aren’t going to absorb that.’”
“Arthur Kupper has had his property listed since mid July, and just signed a lease with a student at the end of August. He said he had to drop the price three times before he received any real bites. It was originally listed for $1,500, and over time he was forced to lower the asking price by about $200. ‘I’d rather drop the price a little than have it sit empty for months,’ Kupper explained.”
‘The reading marks a change from almost unbridled consumer optimism in a housing market that has carried the Canadian economy since the 2008 global financial crisis’
Them Canadians love their shacks. It’s quiet in Vancouver. I wonder if Bob Rennie is still talking smack about The HBB?
how the hell did all these chinese folks in up in canada of all places?
As I understand it, there’s a history going back to Hong Kong in the 1980’s. Canada encourages immigration. Lot’s of Hong Kongers went there so it has an established community. But the Canadians, even more than the Australians, turned a blind eye to money laundering through houses. So when the mainlanders started to bail, Vancouver was a prime spot. The government and the REIC in BC practically facilitated the whole thing. Since the Chinese are gambling fools, they ran the thing up like crazy like they do everywhere else they go.
I was in Montreal China Town during the SARS epidemic of 2003. When I dined in a Chinese restaurant, it seemed like I was the only patron who spoke English or who was not Chinese.
I live a short drive away from Vancouver, ground zero of the real estate bubble which can be seen from outer space. Our big banks just reported stellar earnings, which could be taken as a sign of resolute strength, or the peak of the lending orgy. As I watch the sentiment slowly turn, I am amazed at the strength and creativity of the denial pushing back the tide of reality. I suppose it took a while for people to jump on board with the “world class city”, “no more land” and “everybody wants to live here” narrative, and like a bad love affair, the defenses are getting ratcheted up. I am seeing the same language from the banks that I’ve seen prior to the housing bust in the US, but perhaps to a more naïve and desperate audience. There is going to be a great demand for soothsayers who will predict a quick recovery and a resumption of the good old days.
As soon as oil hits $100
Do banks in Canada report every 2 years?
Perhaps earnings will be happy (data) dependant, as in only report when everything is awesome!
Did the housing bubble just peak in Palo Alto?
http://wolfstreet.com/2016/08/30/if-you-own-a-home-in-palo-alto-ca-sell-it-now/
Stupid ‘Murican voters bend over for more of the same.
http://www.marketwatch.com/story/marco-rubio-patrick-murphy-win-florida-senate-primaries-2016-08-30?link=MW_latest_news
Incredible, isn’t it? Rubio vs Murphy. Now THERE is a cuckfest.
Anyone who says global freight volumes are down is peddling fiction.
http://www.marketwatch.com/story/hyundai-to-buy-parts-of-troubled-rival-hanjin-shipping-2016-08-30?link=MW_latest_news
“Van Buren listed the home for rent at the end of June but said she was not receiving nearly as many inquiries as in past years.”
Sounds like she’s asking above the market rental rate.
The problem is easily solved: Keep lowering the offered rent until price discovery, at which point a prospective tenant is certain to snap up a rental agreement at the fair market rental rate.
Bill Gross: The Fed has mastered market manipulation
Bill Gross says negative interest rates are nothing but liabilities
By Rachel Koning Beals
Published: Aug 31, 2016 10:55 a.m. ET
It’s not easy being wrong, except when wrong is right, bond veteran argues in commentary
Bloomberg News/Landov
Bill Gross manages the Janus Global Unconstrained Bond Fund.
Call bond-market veteran Bill Gross a “broken watch.” He doesn’t care.
His gripe about negative interest rates and a flood of debt, which he considers a risk, not a fix, for a global economy that’s still limping out of the financial crisis, is challenged daily by resilient demand for the bonds he’s bearish on. But even if being “right” eventually isn’t so popular right now, he’s not backing down, Gross said in his latest monthly commentary.
“The problem with Cassandras, such as Gross and Jim Grant and Stanley Druckenmiller, among a host of others, is that we/they can be compared to a broken watch that is right twice a day but wrong for the other 1,438 minutes,” Gross wrote. “But believe me: This watch is ticking because of high global debt and out-of-date monetary/fiscal policies that hurt rather than heal real economies.”
Germany, Switzerland, France, Spain and Japan are among countries that have negative yields on government-issued debt. Their hope is that cheap, even free, borrowing raises inflation and revives asset prices that can filter through economies; they argue extreme policies have been needed. Gross and others have argued that rates, including those at the Federal Reserve, at near zero or below won’t create sustainable economic growth and actually undermine capitalism with repercussions.
Read: Negative rates are best stimulus option, Fed officials told at Jackson Hole
…
LEE ADLER
Let The Viewer Beware – Case Shiller Lags and Understates the Housing Bubble
by Lee Adler • August 30, 2016
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Here’s how the Case Shiller Index (CSI) press release spun the data on the state of the US single family housing market today:
http://davidstockmanscontracorner.com/let-the-viewer-beware-case-shiller-lags-and-understates-the-housing-bubble/
“Nationalization refers to the process of a government taking control of a company or industry, which generally occurs without compensation for the loss of the net worth of seized assets and potential income. The action may be the result of a nation’s attempt to consolidate power, resentment of foreign ownership of industries representing significant importance to local economies or to prop up failing industries.”
How much of japans stock market would the BOJ have to own before we can call it nationalization?
It’s official: 41% of ‘Muricans are brain-dead.
https://www.washingtonpost.com/news/the-fix/wp/2016/08/31/a-record-number-of-americans-now-dislike-hillary-clinton/
Just a statistical fluke, I’m sure.
http://www.businessinsider.com/canada-gdp-june-2016-2016-8
Canada’s economy just had its worst quarter since the financial crisis.
Real GDP fell by 0.4% in the second quarter after rising by 0.6% in the first, according to the latest data from Statistics Canada.
In the grand scheme of things, that’s not too bad. Yet you’ve posted another link below on the same topic from the Bulgarian. It must be a disappointing day.
0.2% “growth” over two quarters is “not too bad”? Since GDP is measured in currency that is being weakened faster than that, it’s actually negative growth, mind you.
It’s not good, but it’s not horrific. And your point about the currency is mistaken.
The German sheeple voted for a bankster-globalist water carrier who now assures them that Soros-sponsored fundamental transformation isn’t all that bad.
http://www.businessinsider.com/merkel-on-refugee-inlfux-germany-will-remain-germany-2016-8
I still want to know why Colin Kaepernick thinks Donald Trump is openly racist?
“You have Hillary who has called black teens or black kids super predators, you have Donald Trump who’s openly racist. We have a presidential candidate who has deleted emails and done things illegally and is a presidential candidate. That doesn’t make sense to me because if that was any other person you’d be in prison. So, what is this country really standing for?”
You’re still going on about this? There’s a small mountain of statements from Trump that provide plenty of evidence. However, the guy’s a football player, I think. He’s not really worth so much attention.
I’m sorry MightyMike what did you say?
I was looking up super predators.
Did you find anything?
“Did you find anything?”
Yes I did, Hillary Clinton talking about them and then going on to say “we have to bring them to heel.” as if they were dogs.
“No conscience, no empathy, we can talk about why they ended up that way, but first we have to bring them to heel.”
What did she mean by “super predator”?
I’m coming around to supporting Kapernick, not because of his concerns about racial injustice, but because all over right wing radio he’s being attacked for disrespecting our armed forces for not standing. Are you telling me that when I raise my flag that only means I support our troops?
What did you say about a flag?
I was reading how Hillary was going to bring the super predators to heel.
“No conscience, no empathy, we can talk about why they ended up that way, but first we have to bring them to heel.”
“first we have to bring them to heel.”
This is how they view *everyone*, not just a particular ethnic group.
Everyone must be brought to heel.
And then today we have the DHS branch threatening to seize the elections outright if it doesn’t go the way they want it. I guess that’s just Wednesday.
“I’m coming around to supporting Kapernick”
I’m coming around to supporting an end to the NFL. A bloated, fatuous organization. Pre-season games, what a joke. Especially here in Florida with the abominable heat. It’s just a way to wring a little extra money out of the system.
And don’t get me started on taxpayer-shakedown stadiums. Fark the NFL. It’s a parody of its former incarnation. Nothing but bread and circuses. Who gives a rat’s patootie what a puffed-up, tatted up gladiator says or does?
Shoot look at spring training for baseball even. What used to be a casual spectacle for local fans in the training area has turned into ticketed events that charge darn near what a real game costs. My girlfriends family went to the Rd Sox in FL, and it was $75/ticket face value for a spring game. Absurd!!!!!
But the question remains.
Why does Colin Kaepernick think Donald Trump is openly racist?
Mighty says…
“There’s a small mountain of statements from Trump that provide plenty of evidence.”
But I still have not seen even one statement that provides this “evidence”.
Mighty says…
“There’s a small mountain of statements from Trump that provide plenty of evidence.”
But I still have not seen even one statement that provides this “evidence”.
https://www.youtube.com/watch?v=73tGe3JE5IU - 137k -
Rental Watch posted a link below at 09:26:05 to an article at that I quoted from a couple of weeks ago. At that time I copied and pasted the first half. This is the end of the op-ed.
The recent record may be more familiar: Trump’s suggestions that President Obama was born in Kenya; his insinuations that Obama was admitted to Ivy League schools only because of affirmative action; his denunciations of Mexican immigrants as, “in many cases, criminals, drug dealers, rapists”; his calls for a temporary ban on Muslims entering the United States; his dismissal of an American-born judge of Mexican ancestry as a Mexican who cannot fairly hear his case; his reluctance to distance himself from the Ku Klux Klan in a television interview; his retweet of a graphic suggesting that 81 percent of white murder victims are killed by blacks (the actual figure is about 15 percent); and so on.
Trump has also retweeted messages from white supremacists or Nazi sympathizers, including two from an account called @WhiteGenocideTM with a photo of the American Nazi Party’s founder.
Trump repeatedly and vehemently denies any racism, and he has deleted some offensive tweets. The Daily Stormer, a neo-Nazi racist website that has endorsed Trump, sees that as going “full-wink-wink-wink.”
(Update: After this column was published, the Trump campaign emailed me the following statement: “Donald Trump has a lifetime record of inclusion and has publicly rebuked groups who seek to discriminate against others on numerous occasions. To suggest otherwise is a complete fabrication of the truth.”)
My view is that “racist” can be a loaded word, a conversation stopper more than a clarifier, and that we should be careful not to use it simply as an epithet. Moreover, Muslims and Latinos can be of any race, so some of those statements technically reflect not so much racism as bigotry. It’s also true that with any single statement, it is possible that Trump misspoke or was misconstrued.
And yet.
Here we have a man who for more than four decades has been repeatedly associated with racial discrimination or bigoted comments about minorities, some of them made on television for all to see. While any one episode may be ambiguous, what emerges over more than four decades is a narrative arc, a consistent pattern — and I don’t see what else to call it but racism.
Go try to sell your Trump is a white supremacist Nazi sympathizer somewhere else Mighty.
Pointing out that many illegal immigrants have committed rape and murder in this country does not make someone a racist.
Illegal Alien Crime Accounts for over 30% of Murders in Many States
by Tom Tancredo8 Aug 2015
Let’s look at a few numbers. You haven’t seen them in the New York Times, Atlanta Constitution, or the Miami Herald, nor have they been featured on NBC Nightly news or CNN. So, the average American is blissfully unaware of them.
Between 2008 and 2014, 40% of all murder convictions in Florida were criminal aliens. In New York it was 34% and Arizona 17.8%.
During those years, criminal aliens accounted for 38% of all murder convictions in the five states of California, Texas, Arizona, Florida and New York, while illegal aliens constitute only 5.6% of the total population in those states.
That 38% represents 7,085 murders out of the total of 18,643.
That 5.6% figure for the average illegal alien population in those five states comes from US Census estimates. We know the real number is double that official estimate. Yet, even if it is 11%, it is still shameful that the percentage of murders by criminal aliens is more than triple the illegal population in those states.
Those astounding numbers were compiled by the Government Accountability Office (GAO) using official Department of Justice data on criminal aliens in the nation’s correctional system. The numbers were the basis for a presentation at a recent New Hampshire conference sponsored by the highly respected Center for Security Policy. You can view the full presentation here:
The US Department of Justice’s Bureau of Justice Programs publishes an annual report on the State Criminal Alien Assistance Program, a report that includes data on the number of criminal aliens incarcerated each state prison system and each county jail. It takes some prodigious digging to find the data, but it is there.
But our mainstream media, our self-described guardians of the First Amendment, consciously avoids the effort and declines to put a public spotlight on the problem or demand public scrutiny and public accountability. Why?
The answer is that public debate on the problem of illegal alien crime does not serve the progressive political agenda. The issue is swept under the rug and anyone who raises it is called a racist.
http://www.breitbart.com/big-journalism/2015/08/08/illegal-alien-crime-accounts-for-over-30-of-murders-in-some-states/ - 68k -
Go try to sell your Trump is a white supremacist Nazi sympathizer somewhere else Mighty.
You said that you hadn’t seen any evidence from me, so I supplied it.
“You said that you hadn’t seen any evidence from me, so I supplied it”
‘Washington Post’ Confirms Hillary Clinton Started the Birther Movement
I hear you, and I’m a fan. It’s become too much, we’re saturated. Last year I only watched one professional game from start to finish, and that was the Super Bowl. I watched maybe two or three college games.
When football is on television four or five nights a week, it becomes routine and isn’t a treat any more. Something that’s scarce often is more valuable, and we should have less football, not more. Plus, the games are so broken up with commercial breaks that they have no flow, the athletic equivalent of stop-and-go traffic.
Speaking of saturated, this likely will be the second year in a row where, by August, Tampa has surpassed its average rainfall total for the entire year. Ugly day today, and tomorrow may be worse.
Notice how left off the Kaepernick narrative is his statement regarding Hillary running for president as a criminal? MSM has been leaving this out as if its solely about racial disparity. You speak out against Hill-dawg and you will be crucified.
Read the full interview transcript.
“Notice how left off the Kaepernick narrative is his statement regarding Hillary running for president as a criminal?”
https://www.youtube.com/watch?v=pjHVPmksQ-0 - 183k -
http://www.nytimes.com/2016/07/24/opinion/sunday/is-donald-trump-a-racist.html?_r=0
Maybe not openly, but there was certainly evidence in his organization.
Putting aside the old he said she said NY Times Real journalist slop.
“The recent record may be more familiar: Trump’s suggestions that President Obama was born in Kenya;”
‘Washington Post’ Confirms Hillary Clinton Started the Birther Movement
by John Nolte26 Sep 2015
Again, I’m going to quote a left-wing source:
Host Joe Scarborough called Clinton’s attack on Trump “rich,” saying, “For Hillary Clinton to come out and criticize anybody for spreading the rumors about Barack Obama, when it all started … with her and her campaign passing things around in the Democratic primary[.] … This started with Hillary Clinton, and it was spread by the Clinton team in 2008.” …
Heilemann, author of the insider account of the 2008 election Game Change, said it was the case that Clinton spread the rumors. “It was the case,” he said. “I’m affirming the Scarborough-Brzezinski assertion.”
2. Weigel also chose not to report:
It was not until April 2008, at the height of the intensely bitter Democratic presidential primary process, that the touch paper was properly lit.
An anonymous email circulated by supporters of Mrs. Clinton, Mr Obama’s main rival for the party’s nomination, thrust a new allegation into the national spotlight — that he had not been born in Hawaii.
http://www.breitbart.com/big-journalism/2015/09/26/washington-post-confirms-hillary-clinton-started-the-birther-movement/ - 81k -
I don’t see how I can judge racism until we have some clear definition of what it is. Right now, it seems that the goalposts are being moved, constantly, and closer to where I seem to be.
For example, if I say, “I have a black doctor” or “my friends are black,” somehow that’s sign that I’m secretly racist. I don’t understand this at all. Presumably if I’m a racist and I think other races are not as good(?), then wouldn’t I have avoided black doctors or black friends? Are there any social justice warriors in the house who can explain this to me?
I don’t there’s a problem with the definition of racism. I think that there’s actually a problem with the term social justice warrior. I’d love to see that term defined.
“I don’t there’s a problem with the definition of racism.”
Would Hillary Clinton’s words below describing what needs to be done with young people of color come under your definition of racism Mighty?
“No conscience, no empathy, we can talk about why they ended up that way, but first we have to bring them to heel.”
If she said that about every young black person, the answer would be yes, but I doubt that she said that.
Look it up! Watch the video! She must have been talking about all those inner city gangs made up of white kids.
LMAO
You love that YouTube, don’t you? I doubt that she would have said that there’s not a single young black person in America who has a conscience or empathy.
Hillary Clinton on Super Predators - YouTube
https://www.youtube.com/watch?v=eq-V8hzLna8 - 286k -
I really like the look on the face of the special snowflake in the red dress when the black girl turns around with her sign.
Black Lives Matter Activist Interrupts Hillary Clinton [2/24 … - YouTube
https://www.youtube.com/watch?v=LqLfvQfuvsA - 150k - Cached - Similar pages
Feb 24, 2016 …
“I doubt that she would have said that there’s not a single young black person in America who has a conscience or empathy.”
Well who TF said that?
There you go again Mighty, just making sh#t up to fit your narrative.
Would Hillary Clinton’s words below describing what needs to be done with young people of color come under your definition of racism Mighty?
I didn’t make anything up. You posed this question. It read as if you were claiming that she was proposing to do something to every young black person in America. That’s what I was getting at.
Besides that, the 12-second YouTube clip that you love so much does not have her mentioning race or color.
ask her
Black Lives Matter Activist Interrupts Hillary Clinton [2/24 … - YouTube
https://www.youtube.com/watch?v=LqLfvQfuvsA - 150k - Cached - Similar pages
But…but…our Keynesian central planners and central bankers assure us The Recovery is gaining strength….
http://www.zerohedge.com/news/2016-08-31/canadian-economy-double-dip-crashes-q2-worst-gdp-growth-7-years
Chicago and Baltimore are the future templates for all urban centers run by corrupt, incompetent Democrats (redundant, I realize). Seems like a fine place to invest for the long haul. Forward!
http://www.chicagotribune.com/news/columnists/kass/ct-chicago-violence-kass-0831-20160830-column.html
We must ban cash, as the Comrades of Proven Worth (D) are unable to loot revenue streams or impose their total surveillance and control mechanisms as long as cash is allowed.
http://uk.reuters.com/article/us-cyber-heist-swift-idUKKCN11600C
‘There’s a glut of supply and students aren’t going to absorb that.’
There’s a subtle point about supply and demand here. How do you get student demand wrong? Alberta is in a recession and enrollment usually goes up in a recession. The artificially high prices sent the wrong message about demand and they overbuilt. Just like Manhattan and Miami.
‘It’s been a rough year for Montana’s neighbors to the north in Alberta, where the shuddering economy and the overwhelming force of natural disaster have combined to hit the province hard. The provincial government released its first quarter update for the 2016-2017 fiscal year, showing massive impact from the Fort McMurray fires within the oil economy, deepening the budget deficit to $10.4 billion.’
“The whole economy of Canada is a resource economy,” Patrick Barkey, director at the University of Montana’s Bureau of Business and Economic Research, said. “It’s not the first bust, but it’s a pretty tough bust for them up there in Alberta.”
‘On Aug. 25, Alberta’s seasonally adjusted unemployment rate was 8.6 percent in July, a huge jump from the 6.2 percent reported this time last year and higher than June’s 7.9 percent.’
‘This is a problem, Barkey said, because Alberta has acted as the economic safety zone for many in Canada, where people moved from all over the country to get jobs in the oilfields or in the bustling and booming cities of Calgary and Edmonton. “Alberta’s been the mini-China of North America for a while there,” Barkey said of the province’s energy production. “It’s just all in reverse, and that’s a huge problem. Their politics are even changing as a result.”
‘Donna Townley, an economist with the University of Lethbridge, said the NDP’s new policies, such as increased taxes and royalties for oil companies, are part of the pressure being exerted on the economy. “Alberta has survived oil prices in the past and we could survive it again, but they’re kicking us while we’re down,” Townley said. “It’s not a rosy picture up here right now.”
‘Barkey said the woes of Alberta definitely seep into the Montana economy. “You can see it here in Missoula,” he said. “There have been facilities here built to stage megaloads (headed to the oil sands). You’ve got to have the longer view.”
‘Other affected industries will include transportation, fabrication work, and many of the other support services built around energy production. Barkey said Canadian oil outfits would send equipment to be fixed in America instead of paying to replace it, for example, and such transactions are slowing.’
There’s a subtle point about supply and demand here. How do you get student demand wrong? Alberta is in a recession and enrollment usually goes up in a recession. The artificially high prices sent the wrong message about demand and they overbuilt. Just like Manhattan and Miami.
Honestly, it’s the strength of the narrative vs. the reality of the situation. The reality is that a lot of apartments double as student housing in college towns, and lots of students don’t want to live in a “dorm-like” setting, with a common area and 4bd/4ba, they want to live in a studio apartment, or 1 bedroom, or 2 bedroom.
So, people point to enrollment figures, they point to lack of student housing on campus, they point to demographics and scream that new supply is needed. And it’s all logical, and so money flies into the sector…but people don’t pay enough heed to the depth of the market, and reasonably priced alternatives to their new-age, bamboo floored, solar-powered, wi-fi enabled student sardine cans.
And so too much get built.
Also coming your way, supply glut in senior housing…
Agree on the supply glut in senior housing. I’m always stunned to see Where to Retire magazine advertise dozens of new 55+ communities where houses cost $250K+. I know there are a lot of boomers, and I know many are doing well, but are there enough boomer couples to fill all the houses that are being built? How many are really planning to move?
The good news for me is that when I’m old and crotchety, all the boomers will be gone leaving behind so many houses that I could have my pick. Of course, these cardboard houses will be 30+ years old and falling apart by then.
We must ensure that our NEA indoctrination mills continue to turn out half-educated dolts who will mindlessly parrot DNC talking points while joining the ranks of the DNC’s lifetime entitlement voters. Excellence is the mortal enemy of The Comrades of Proven Worth (D). Forward!
http://www.marketwatch.com/story/america-desperately-needs-to-redefine-college-and-career-ready-2016-08-05
More and more mail on refi. Most wanting you to extend terms and offer no fees which is not true as most have the fees rolled in for a true APR of almost 1%. They promote taking out money to pay off other debt or to use the money to fix up your house or take a vacation. I know of several who are refi-ing because they are quote getting a cheaper loan and their property has gone up in value. So now those high loans that were supposedly quality loans no longer have that 20% down but are being filled with hot air.
The banks have a lot of money to put to work and are desperately trying to find a home for it.
Keep your eye on those downward revisions to the previous data releases, and try not to snap up yourself a falling knife!
Pending home sales rise in July to second-highest level in a decade
By Steve Goldstein
Published: Aug 31, 2016 10:00 a.m. ET
Bloomberg
Homes are being snapped up at the second-highest rate in a decade.
Pending home sales in July reached their second highest reading in a decade, as a solid jobs market and low mortgage rates underpin demand.
The National Association of Realtors said Wednesday its pending home sales index rose 1.3% in July, after a downward revision in June to show a 0.8% drop instead of a 0.2% gain. It’s 1.4% above year-ago levels and the second-strongest reading since April.
…
Hillary exits the van. Oooff!
https://www.youtube.com/watch?v=D4Z4pB6TogM
Serious question: If Hillary drops out of the race for health or other reasons, what happens then? Does Kaine automatically become the Dem presidential candidate?
And if he does, might that be better for the Dems? Would dem voters who had decided to vote for Trump because they can’t stand Hillary, swing back and vote for Kaine because he’s more acceptable and doesn’t have as much baggage?
I think Kaine would be an easy vote for many.
Forget D vs. R, there are plenty independents that would swing Kaine’s way who don’t like HRC.
True dat.
Neither Hillary nor The Donald are exactly spring chickens, so it seems unsurprising that she doesn’t perform cartwheels upon exiting the van. Yet I have the feeling that all the Twitter feed about Hillary’s health is just an attempted cover up of a vacuous campaign.
Hoping to see this downtrend here in my town in Mass.
My landlord put a statement in my lease that says a “small increase” upon renewal is expected due to rising utility costs. Pffttt, more like assuming home values are going up and up.
Let us know what the increase is, please, even if only a rough percentage.