When Prices Do Not Represent Real Market Values
It’s Friday desk clearing time for this blogger. “Rental housing website Zumper announced that Seattle has fallen off its list of the country’s ten most expensive renter markets. Tanguy Le Louarn, head of digital marketing at Zumper, says that’s explained in part by luxury apartments in Seattle becoming more affordable for rich people. ‘This [is a] kind of mini correction that we’re seeing,’ Le Louarn says. ‘There’s so much rent price that people can stomach, so the high end luxury complex…cannot increase forever.’”
“Prospective buyers at one Upper East Side condo project are quietly being offered a 5 percent discount. Such tactics have become more common in Manhattan, where developers are coping with a luxury-condo glut and adjusting to a new reality after years of building to meet seemingly insatiable demand. ‘Right now, time is your enemy,’ said Jacky Teplitzky, a luxury broker with Douglas Elliman Real Estate. ‘The first question that people ask is how long has an apartment been on the market?’”
“It’s a turnabout from the boom days just a few years ago, when investors quickly plunked down record-shattering sums for homes still in the planning stages. The developers’ sales incentives will only go so far to help clear Manhattan’s ‘tremendous amount of overpriced inventory,’ said Donna Olshan, president of Olshan Realty. Ultimately, what’s needed are deeper price cuts across the luxury market, she said. ‘Things will sell, they’ll just sell at lower prices,’ she said. ‘You can’t sit out there forever trying to sell one apartment a month.’”
“August numbers released by the Calgary Real Estate Board shows the estimated price for a typical condo in the city was down to $274,900, with prices now down 7.1 per cent from a year ago. Inventories for condos have also climbed to near record highs for August. Realtor Jim Sparrow said many prospective buyers are waiting until they have more confidence that the price of oil and the economy are recovering. ‘They’re like most other buyers right now. They’re very hesitant to jump in the market when they don’t have more confidence,’ said Sparrow.”
“Indian urban land prices are finally beginning to follow the laws of economics. Indian investors have always believed that land values can only rise, but in the wake of the sustained weakness in residential property markets over the last two or three years, land prices in overheated markets like Delhi and Mumbai are actually beginning to fall. The old advice — ‘Buy land, for they ain’t making no more of it’ — can now be questioned.”
“It is no secret that builders, politicians and bureaucrats use their intervention powers to curtail land supplies to hold prices high even when there is no real demand. This is because the bulk of their benami wealth in held through land and properties. But the laws of economics have begun working. High prices invariably drive a supply deluge, and this is why land is beginning to fall.”
“The latest House Price Index published by the Kenya Bankers Association for the second quarter of 2016 is a reason to be sceptical about investing in real estate and the future of the property market in Kenya. Nairobi is the first area to feel the heat of the market. Investors in several neighbourhoods in the capital are feeling pressure from a slump in property prices and rentals as an obvious excess supply is creating new market conditions.”
“People seem not to understand what is going wrong. Everybody keeps saying that there is a huge deficit of houses. There is a need of 250,000 houses annually when only 50,000 are built. So, when supply does not meet demand then prices should keep going up! The reality is that the majority of houses that have been developed in Kenya over the last couple of years are not affordable to a majority of people. Market speculators using this ‘imaginary’ deficit of housing have been creating a possible non-existent demand, pushing initially the land prices up and then the property market.”
“The problem is that when the prices do not represent the real market values, then the possibility of a market downturn is very strong. Depending on the market dynamics, that could be translated to a price collapse.”
“With asking prices dropping 1.2% in the last month, London property owners are ‘panic selling’, says a top UK website. The impact of June’s UK Brexit vote had resulted in a downward spiral in the Greater London property market as sellers desperately look to cash in on years of house price growth in the capital, says Home.co.uk. Foreign buyers who purchased a property in London within the last 12-months are probably already in negative equity, says Home.co.uk. In terms of Euros, Greater London home prices have shown a dismal performance over the last year, with values dropping 11% since May and 17% since November last year.”
“Doug Shephard, Director at Home.co.uk, says, ‘It is clear that the referendum result certainly unnerved many investors. We will be keeping a particularly close eye on the London market over the next month, watching whether or not the surge in new listings becomes a stampede. This would inevitably lead to a home price crash in the region and stress mortgage lenders to the limit or beyond. Property investors would be well advised to weather the storm and not join a suicidal rush to market.’”
“Hype about the risk of property settlement due to tougher bank restrictions is inflated, according to industry insiders who work with Chinese investors. The settlement crisis stems from Australian banks tightening loans to foreign income-earners – effectively drying out the funds Chinese buyers can access for settlement. However, Esther Yong, director of Chinese-language property portal ACProperty, believes there will be ‘a lot’ of crashed settlements coming up in the next few months.”
“‘Mainly because a lot of buyers were told that they are able to get finance when they first bought the property two years ago. These buyers would have had their funds and assets committed into other areas and might have difficulty moving the funds within such a short period of time,’ she said.”
“Some are so desperate that they have resorted to posting ads online to resell off-the-plan properties they had bought one to two years ago, with many in Bankstown, Burwood, Wentworth Point, Kellyville, Parramatta and Homebush West dangerously close to completion. ‘I’m currently handling several apartments which cannot be settled because of mortgage problems, the current owner is prepared to give up the deposit to resell, get in touch if you are interested in having a go at bottom-fishing,’ one agent posted on Tigtag, a popular Chinese-language online forum.”
“The market is now seven years into its recovery, meaning the clock is likely ticking for New York City real estate players. Rick Jones, head of the finance and real estate groups at the law firm Dechert, offered a perspective. ‘We’re deep into a grinding expansion,’ he said. ‘By normal standards, it’s at its end. We’re one black swan away from really seeing a recession occur.’”
“But it’s not just the luxury condo market that has industry players concerned. New York’s investment sales market has been in correction mode for about a year, with overall sales activity in Manhattan dropping by 22 percent to $22.7 billion in the first half of the year. Hotel revenues and retail rents are falling as well, and as office rents approach their pre-recession peaks, observers are starting to wonder how much runway is left before that segment starts to turn.”
“At this time last year, the market appeared to be firing on all cylinders. But under the surface, a more ominous reality was developing. Analysts say certain market segments have been cooling for some time, and the broader industry is only starting to take note now. ‘Really, it’s just in the last six months that the market’s acknowledged it,’ said Jonathan Miller, the president of the appraisal firm Miller Samuel. Anxious to get projects built as prices were escalating, developers have filled the market with too much inventory. In Manhattan alone, there are currently some 14,000 new development units in the pipeline, according to Miller. At the current absorption rate, that works out to about five years of excess inventory.”
“‘There’s an old saying in residential development,’ said Glenn Mueller, a professor of real estate and construction management at the University of Denver. ‘Carry kills.’”
‘Anxious to get projects built as prices were escalating, developers have filled the market with too much inventory. In Manhattan alone, there are currently some 14,000 new development units in the pipeline, according to Miller. At the current absorption rate, that works out to about five years of excess inventory.’
This last link is a lengthy, worthwhile read.
“Hotel revenues and retail rents are falling as well, and as office rents approach their pre-recession peaks, observers are starting to wonder how much runway is left before that segment starts to turn.”
Time to foam the runway again so soon after the last time?
‘At this time last year, the market appeared to be firing on all cylinders. But under the surface, a more ominous reality was developing. Analysts say certain market segments have been cooling for some time, and the broader industry is only starting to take note now. ‘Really, it’s just in the last six months that the market’s acknowledged it,’ said Jonathan Miller’
It was at least 6 months ago that expensive art, wine, cars, etc, went south. Notice we don’t hear about “safe deposit boxes in the sky” anymore? Or “parking money” when it all turns out to be loans?
“Anxious to get projects built as prices were escalating, developers have filled the market with too much inventory.”
I don’t suppose that has ever happened before?
Good find Ben. I skimmed it, and will read in more detail again tonight.
‘I’m currently handling several apartments which cannot be settled because of mortgage problems, the current owner is prepared to give up the deposit to resell, get in touch if you are interested in having a go at bottom-fishing,’ one agent posted on Tigtag, a popular Chinese-language online forum.’
what’s this about mortgages? I thought Chinese buyers in Australia were all cash and no leverage … and that looks like Joshua Tree …
Maybe you saw the Canadian post yesterday. They’re having a go at bottom fishing in Vancouver too.
I guess “settlement” in Australia is the same as “closing” in the US. So what is happening is that purchase transactions are failing to close because the mortgage funding is no materializing. And I assume that the buyers are losing their deposits in the process.
Greetings from Brisbane. Yes, “settlement” is closing.
‘It is no secret that builders, politicians and bureaucrats use their intervention powers to curtail land supplies to hold prices high even when there is no real demand. This is because the bulk of their benami wealth in held through land and properties. But the laws of economics have begun working. High prices invariably drive a supply deluge’
‘High prices invariably drive a supply deluge’
yep…
And, I might add, it starts with the land…Developers bidding up the price….
Developers only bid up the price if they think they can sell homes for prices that justify the land purchase.
U.S. National Debt Clock : Real Time
http://www.usdebtclock.org/ - -
National debt hits $19.5 trillion
By Pete Kasperowicz (@PeteKDCNews) • 9/1/16 4:23 PM
When President Obama took office in early 2009, the total debt was $10.63 trillion, which means it has almost doubled under his watch.
President Obama has boasted of cutting the annual budget deficits by more than two-thirds over the last few years. But it was under his administration that those deficits soared north of $1 trillion, and only in the last few years did they return to the highest deficit levels ever seen under his predecessor, President George W. Bush.
While he was a senator, Obama criticized Bush for presiding over those same deficit levels, and said they represented a failure of leadership on the part of Bush.
Debt growth seems to always look different when viewed through the incumbent president’s eyes than when viewed by wannabe presidents.
Does Facebook have a profile pic overlay for this?
Because none of my friends have it on their profiles.
“But it was under his administration that those deficits soared north of $1 trillion, and only in the last few years did they return to the highest deficit levels ever seen under his predecessor, President George W. Bush.”
——————-
I’m confused. Should that read “lowest deficit levels?” Or maybe “debt levels” instead of “deficit levels?” ????
and said they represented a failure of leadership on the part of Bush ??
Failure is way too kind…He was a absolute disaster for this country the likes of which we have never seen before…What was the total federal tax revenue in the tax year 2009 & 2010 after the 2008 meltdown ??
Obama cut the deficit, like Clinton did.
Sorry, WW2 has not been pd off yet.
This only occurred under Clinton because intergovernmental borrowing increased. He also benefitted from the increased tax receipts from the Tech boom and bubble of the 1990s.
“It turns out the budget scored a surplus only because it borrowed money from the “trust” funds that secure entitlement payments, such as Social Security and Medicare. Since, in the real world, those funds would be considered obligated, those intergovernmental borrowings actually increase the federal debt. They are included in the debt figure that is published by the Bureau of Public Debt.”
http://www.washingtontimes.com/news/2012/feb/6/clinton-gingrich-and-the-balanced-budget-myth/
Hopefully the GOP can win a majority in the House this election and use the power of the purse to
oh never mind
although that myth is still living rent free in many skulls.
Popped into the big threat from yesterday and see Professhur Bore is at it again, bashing Trump and pretending not to be open borders and a huge liberal.
Get the math right. Bash Trump = Support Hillary. Hillary is open borders, as is Gary Johnson.
Trump’s having surged in the polls the last 2 weeks and Hillary in hiding taking naps must have a few folks scared. But go ahead and hide your guns cause with Hillary the personal right to own a gun, recognized by the Supreme Court in Heller, is GONE.
http://www.thegatewaypundit.com/2016/05/former-candidates-rand-paul-rick-perry-endorse-donald-trump-president/
Tell us what you really think.
Don’t hold back.
Oh boy, I woke up the Trump troll who guards the bridge…
It’s obvious that you’re either a Trumpling or a commie. It’s impossible to have ideas that don’t align perfectly with one or the other, becuz ‘Murica!
Idiocracy is now.
Go ahead and support Globalism, what do I care?
Go ahead and make moronic assumptions about what people support. What do I care?
Trumplings aren’t exactly your sharpest tools in the shed.
“…the big threat from yesterday…”
I can see up your skirt, and your Freudian slip is showing.
Politically Correct Bear, sometimes a cigar is just a cigar, unless it is Bill Clinton’s cigar. Your own little allies will run you off campus in a PC hissy fit some day soon.
Give it a rest, Palmetto… everyone can see through your lame charade.
Fabulous and I are two different posters, and you already know this, PB.
Do you like Huey Lewis and the News?
https://www.youtube.com/watch?v=vzN3qO-qc8U
They really got the Gekko 1980s down in that clip.
unless it is Bill Clinton’s cigar ??
LOL….What Bill did in the oval office is embarrassing to presidency and to the country…Is it a impeachable act ?? Hardly…Why wasn’t Bush & Cheeney impeached for their actions ?? The damage to this country is still ongoing both in blood & treasure…And, to make Monica out to be some Mother Teresa Intern is laughable…I am sure that was not her first time gobbling the rhubarb…She was in that oval office for a purpose…
What WJC did in the Oval, in the context of any other job in America would be at a MINIMUM sexual harassment, and would get you fired.
And then he lied about it under oath.
PB, I am making rarer appearances the next few weeks. Busy with software. But I will be back more often when the regulars realize Nazism is just another evil form of statism.
I’m sure there will be plenty of fodder for discussion of creeping Nazism ahead, regardless of the election outcome.
Good luck with the software development project!
Red diaper doper babies the whole lot of ya
Is Hillary on medical leave?
No one has seen her.
No press conference in 270+ days.
No visit to Louisiana.
No visit to Mexico.
I see more or war monger Biden on TV than Hillary.
I am not a Trump supporter. Nor am I a Clinton supporter. But somebody in Trump’s camp is advising him well, because recently Trump has been acting as if he was President while Clinton has continued in standard campaign mode.
It’s called something like “talking past the sale”.
fake it till ya make it….
Trump knows debt.
+1…Spot on…
Why should a presidential candidate be playing kissass in Mexico?
FWIW, I looked up her schedule for September, and it isn’t much better. Tons of “friends of” type rally/parties/fundraisers, but not much of Hilary herself. She’s taking off a full week before the first debate.
The only winner here is me.
The Trump Book of Insults
And I’m living in your head rent-free.
“…the big threat from yesterday…”
It kinda looks like I’m living rent free in your empty skull.
And you’re going to love what I have in store.
Concentration camps and gas chambers worked out badly for Germany, but perhaps they are exactly what is needed to Make America Great Again?
The trend in this graph suggests you are going to lose the presidential election by the largest landslide going back at least to Ronald Reagan’s victories. It’s not too late to save face by dropping out of the race. Where’s the downside to a long vacation when you are a billionaire?
It’s OK. He goes “back to a very good way of life.”
Exactly. I honestly think Trump wins no matter what. Not so much Hillary, who seems singularly focused on becoming the first female U.S. president.
Senator Obama blasts the Bush Administration’s deficits. Got hypocrisy?
https://www.youtube.com/watch?v=z4NltWP2Lj8
“Market speculators using this ‘imaginary’ deficit of housing have been creating a possible non-existent demand, pushing initially the land prices up and then the property market.”
“The problem is that when the prices do not represent the real market values, then the possibility of a market downturn is very strong. Depending on the market dynamics, that could be translated to a price collapse.”
Who could have imagined the Kenya market operates exactly the same way as the U.S. market does? I guess all real estate is global anymore.
The collectivist kleptocrats in California (D) must tax any and all sources of wealth or enterprise to fund their ever-growing Free Sh!t Army and keep the patronage and graft flowing to their donors. Forward!
http://www.zerohedge.com/news/2016-09-01/california-just-passed-1bn-tax-whole-country-no-one-noticed
A $1 Billion Tax On The Whole Country
That works out to a monthly bill of around 25 or 30 cents per American.
Cloward-Piven is real.
Future generations will look upon this overtime pay change as the day when America became unfree.
How is this Cloward-Piven? C-P wants to give everyone an income for not working. This is paying overtime for people who DO work.
Don’t you have some mountain to hike?
Now that I think of it, it’s probably less than 25 or 30 cents. A noteworthy portion of California’s agricultural production is exported, so some of that billion will be paid by non-Americans.
Well, then, that makes it okay, Mikey. We’ll add it to the costs of all the other Democrat swindles per American.
So a change to overtime pay is now a swindle?
Federal Spending in California
September 11, 2015
California Receives More Federal Money Than Any Other State. In FFY 2012-13, California received $343 billion in federal spending. As shown in Figure 1, that amount was more than any other state received and about $100 billion more than the next largest recipient of federal funds,
As displayed in Figure 3, FFY 2012-13 federal spending in California was $8,967 per person, lower than the national average of $9,961. Based on this measure, California ranks 37th. In part, this ranking is below average because California has a smaller proportion of retirees
http://www.lao.ca.gov/LAOEconTax/Article/Detail/131 - 28k -
“this ranking is below average because California has a smaller proportion of retirees.”
So the other states are receiving Federal dollars that they had already sent to the Federal Government, they have a larger proportion of retirees that have paid into the system and California gets the straight cheese for $100 billion more than the next largest recipient of federal funds.
Then there is this.
California has grown welfare while Texas has grown jobs, and soft tyranny is to blame
Chuck DeVore
Vice President, Texas Public Policy Foundation
3:52 PM 01/21/2014
Read more: http://dailycaller.com/2014/01/21/california-has-grown-welfare-while-texas-has-grown-jobs-and-soft-tyranny-is-to-blame/#ixzz4J7886odE
Make America Great Again. Kick out California.
“The collectivist kleptocrats in California (D) must tax any and all sources of wealth or enterprise to fund their ever-growing Free Sh!t Army and keep the patronage and graft flowing to their donors. Forward!”
From now on when California fuqes up, I will not punish them, I will punish all of you. Now get on your faces!
ONE! TWO! THREE! FOUR! I LOVE CALIFORNIA!
Full Metal Jacket - Jelly Doughnut Scene - YouTube
https://www.youtube.com/watch?v=5NP8y63Ms4o - 427k -
“Once signed by Jerry Brown, the bill, known as AB 1066, will make California the only state in the entire country to provide overtime wages to ag workers after 8 hours a day or 40 hours per week. This change will add about $1BN annually to the cost of growing food in California which will ultimately be passed along to consumers.”
I imagine they’re talking about “documented” workers, so this windfall will likely be spent in California on Schaefer beer, music boom-boxes and cheap clothing from Walmart. SNAP, WIC, etc., will likely pickup the food slack, so phats doesn’t have to skip just yet.
When I lived in Puerto Rico, Schaefer was huge. It may have been the island’s most popular beer.
I found one of the retro ads. “Cuando se toma mas de una” means “When you’re drinking more than one.”
https://www.youtube.com/watch?v=7L6DZfVC7mc
NYC, too, in the olden days.
Schaefer jingle
“When I lived in Puerto Rico, Schaefer was huge.”
It’s huge in California’s Central Valley.
“I found one of the retro ads.”
Can’t fault the things one learns here. Thanks!
“Foreign buyers who purchased a property in London within the last 12-months are probably already in negative equity, says Home.co.uk. In terms of Euros, Greater London home prices have shown a dismal performance over the last year, with values dropping 11% since May and 17% since November last year.”
Is panic selling among the oligarchs who parked their crime syndicate loot in real estate limited to global bubble capitals like Vancouver, London and Manhattan, or is it possibly more ubiquitous?
Gold telegraphing more currency debasement from Yellen the Felon.
http://www.kitco.com/market/
I can’t see how the Fed’s endless waffling on liftoff can sound like anything but music to the ears of a gold investor.
It begins: rent drops in 10 of 12 top US rental markets.
http://wolfstreet.com/2016/09/02/apartment-rents-drop-in-10-of-top-12-u-s-rental-markets/
‘What surprises me is to see Oakland on this list with sharp drops on a month-to-month basis. Rents have been skyrocketing in a stunning manner in Oakland, powered higher by San Francisco and Silicon Valley escapees. I thought that pressure would persist a while longer. Oakland lagged going into the post-Financial Crisis Bay Area housing boom, and so I thought it would lag coming out of it. But apparently, I thought wrong. And the party may already be over.’
The apartment bubble spells credit event ahead.
Oakland = Googleland
Silicon Valley firms that operate in cyberspace sure do seem to love their brick and mortar investments!
Real Estate Inc.
Google exec talks real estate moves, housing crisis and Oakland rumors
Oct 8, 2015, 6:46am PDT
Cory Weinberg Reporter
San Francisco Business Times
…
hah, dot.bomb 2.0 on the way?
Amazon is way, way over-inflated. Someone needs to let the air out of that balloon. I just don’t think it has had quite the success we’ve been led to believe. Don’t get me wrong, it has probably done well, but not as much as “they” say.
Amazon is way, way over-inflated.
Everything is way, way over-inflated.
Oakland = Bustin’ caps
Oakland on this list with sharp drops on a month-to-month basis ??
While everywhere else is flat Oakland housing prices are spiking…
Stop making up $hit. Nowhere it’s spiking.
Dc up as Hilary approaches
Gonna spend it up
Excellent! Thanks for the great news. I look forward to informing our landlord this fall at lease renewal time.
You are free to chase cheaper rent.
You aren’t.
Actually, I am. If I need to pay less per month, I can sell my house and chase a cheaper monthly payment. I’d have to downgrade to a one-bed, but them’s the breaks.
For giggles, I looked up the rent zestimate: $600 more than my PITI.
For more giggles, I looked up the rent for my old 3-bed townhome. $400 more than my PITI *but* they’ve also slapped on a $125 for parking in the surface lot. I’m assuming that’s per car. I guess it’s the only way to cut down on all the shacking up.
Long explanation to avoid admitting that you are locked in on an illiquid, depreciating asset…
For a loanowner she spends quite a lot time in zillow. I thought zillow was for future loanonwers.
Poor Donk. Poor poor Donk.
Judging from the rents in other cities on the list, San Diego is a relative bargain.
SD is weatherless- you don’t need clothes
You don’t need AC or much heat, either. Big savings on energy bills versus living in flyover.
Colin Kaepernick’s socks.
May induce the kind of rage that brings out the snarling authoritarianism.
Michael Brown was a thug. And Freddy Gray was murdered.
They’re not the same person…
I think that Colin Kaepernick should stand during the National Anthem in order to honor the country who fought to give him the right to sit down during the National Anthem.
Oh, wait… uhh, maybe he could stand for half and sit for half?
I want everybody to stop talking about this and focus on the swimmer who lied about the bathroom damage in Brazil. Focus!
I think there’s a significant voter demographic that gets sexually stimulated every time the police waste some black kid, irrespective of the actual circumstances.
I want “bulge” photos.
That would be Anthony Weiner.
By all means, let’s not talk about the national debt that just exceeded $19.5 trillion and is growing like mad under the wise and prudent stewardship of Obama.
What is the appropriate duration to display a Facebook profile pic overlay? Belgian flag. French flag. Rainbow flag (can be used for both Orlando and Supreme Court decision on gay marriage).
Is Harambe over? What about Ice Bucket Challenge? Bring Back Our Girls? Kony 2012?
I think Samsung needs to reprogram their smartphone keyboards with the # symbol on the default screen so it’s two less keystrokes when I need to hashtag something to demonstrate my sufficient level of concern.
‘demonstrate my sufficient level of concern’
If it was important yesterday, isn’t it just as important today? I mean think about it. A swimmer. He lied! Think of the bathroom!! I want updates: “Ken, more on the Brazil bathroom scandal…We’re hearing the mirror sustained a chip. Ken, hold on, we’ve got a breaking live satellite feed from Rio. Todd Important Sounding Person: Yes, Barbie, the police are saying they smelled alcohol on the swimmers breath!’
Ben Jones resolving all of the injustice in this world is just too much work.
Would it be possible for you to install a “like” button on the HBB?
A men’s locker room in Brazil. Lola’s dream date.
“Would it be possible for you to install a “like” button on the HBB?”
LOL, yesterday I was reading some of the responses to the Space-X rocket and payload explosion on ZH and someone commented along the lines of “Was this a Facebook satellite that exploded? Well, then, I’ll give the video a big LIKE!”
Well if you must know, it was only the door of the bathroom that was broken (and there is some rumor that it was broken already). One of the other swimmers paid $11K (bribe?) to get out Brazil and had no further attention or repercussions. Lochte himself lost his four big endorsement contracts but gained a new modest contract from Pine Brothers Cough Drops. And that’s just about the end of Lochte’s 15 minutes
I was with a group of friends yesterday at a bar and they were screaming at each other for half an hour over the Ryan Lochte incident.
I had to walk away. THIS is what is worth arguing about? smh
Typical mindless ‘Muricans.
“Was this a Facebook satellite that exploded? Well, then, I’ll give the video a big LIKE!”
That’s typical of Zerohedge comments - dopey, angry and confused.
“I want everybody to stop talking about this and focus on the swimmer who lied about the bathroom damage in Brazil.”
No way!
I think Kaepernick is on the verge of bringing back the Jackson Five for one last Victory Tour.
Colin Kaepernick hears the boos, finds some support in San Diego …
http://www.nydailynews.com/sports/football/colin-kaepernick-takes-heat-finds-support-49ers-wrap-article-1.2774964 - - Cached - Similar pages
7 hours ago .
I Want You Back - The Jackson 5 - YouTube
https://www.youtube.com/watch?v=s3Q80mk7bxE - 470k -
One buttock down, one up.
Priceless!
BAhhhhhhhhhhh Oxide needs a spanking
Hilary gonna give her a raise
“Michael Brown was a thug. And Freddy Gray was murdered.”
This white kid on the Kawasaki was lucky to get away from this off the wall off duty officer unscathed.
Deputy under investigation after pulling gun on motorcyclist, caught …
http://cbs12.com/news/local/deputy-under-investigation-after-pulling-gun-on-motorcyclist-caught-on-camera - 178k - Cached - Similar pages
13 hours ago … A Palm Beach County deputy is under investigation for the way he handled … Deputy under investigation after pulling gun on motorcyclist, caught on camera … Adrian Mitchell contacted CBS12 News because he said, he was afraid …
I ran into a uniformed police officer at the local pizza shop at lunch today. First time I’d seen a police officer — in person — in years. It was empty, just the two of us in there. My good deed for the day - I thanked him and said the vast majority of people support the police. He smiled and said thanks.
It got me thinking what a tough job that really is. You’re basically being lied to all day long by people, which by itself would be bad enough, but then you get a front-row seat to all the really horrible things that people do to each other. It would be hard not to get affected by that over time. I think it would take a lot of internal strength to do that job.
You have to bear in mind that there are people out there who hate cops and are willing and able to kill them if given a chance. When a cop decides whether to pull his gun and defend himself, he always has to weigh the risk that a failure to do so could result in his own demise.
‘Property investors would be well advised to weather the storm and not join a suicidal rush to market.’
The lemming who jumps first lands safely and walks away unscathed.
Lemmings who hold back to stay with the herd get crushed in the stampede over the cliff.
Lemmings who never bother to jump get crushed just the same.
Wasn’t Seattle the final nirvana,bullet proof etc ?
Oh my
In jobs report construction and manufacturing down
I’m looking for a rental there, and there are hundreds that have been sitting for the 2 months I’ve been watching. A few drops here and there, but I thing that will pick up soon….
‘developers are coping with a luxury-condo glut and adjusting to a new reality after years of building to meet seemingly insatiable demand…It’s a turnabout from the boom days just a few years ago, when investors quickly plunked down record-shattering sums for homes still in the planning stages…‘Things will sell, they’ll just sell at lower prices’
People are tapping their HELOC’s again…
http://www.nbcnews.com/business/real-estate/more-homeowners-want-tap-their-homes-cash-today-n641556
———————-
“According to ATTOM Data Solutions, we are now entering our fifth straight year of increases in HELOC originations on a quarterly basis.
…”There should be a healthy respect for the use of HELOCs, because they are one of those tools that can be used by homeowners responsibly or irresponsibly,” Blomquist said.
Pre-crash, many homeowners did the latter, purchasing luxury goods, vacations and depreciating assets like boats or jet skis, only to be caught unawares when housing values plummeted.
…This time around, borrowers seem to be putting those funds back into their homes, said Greg McBride, Bankrate.com’s chief financial analyst. “I don’t think it’s as bad this time around because homeowners are using HELOCs to renovate their houses, to add value. They’re using it for investment,” [McLaughlin] said.
——————
‘I don’t think it’s as bad this time around because homeowners are using HELOCs to renovate their houses, to add value. They’re using it for investment’
If you spend $10 on your kitchen, you might get $5 back in resale. Maybe.
Sounds like a lot of these homeowners are making the same mistake as the apartment developers: converting their Grade B house into a Grade A house with amenities, thinking that they can command a luxury price later, But, to paraphrase that guy from India: there aren’t enough homeless millionaires to fill shacks that we upgraded for them.
That said, there probably is some advantage to bringing a house out of the 1970’s.
actually, there is a cool factor to having a 70’s house if it was maintained or remodeled.
my house looks a lot like the Brady Bunch house; same stairs, kitchen (avocado GREEN formica) layout, complete with unfinished attic.
wish I had an “Alice” too.
she still cracks me up!
Might as well blow the money on vacations or cars. People just don’t have their priority set. No wonder they sign up to be the loanowners. LOL
I like how he says it’s not “as bad” as it was before. He admits it’s bad, just not as bad.
Kind of like getting told by the doctor, “Well, the cancer has returned, but don’t worry, it’s not as bad as it was before.”
“Kind of like getting told by the doctor, “Well, the cancer has returned, but don’t worry, it’s not as bad as it was before.””
Exactly. Ask the doctor what happens if the cancer isn’t treated but ignored instead.
“Pre-crash, many homeowners did the latter, purchasing luxury goods, vacations and depreciating assets like boats or jet skis, only to be caught unawares when housing values plummeted.”
HELOCs were very popular in my corner of flyover country especially when Washington Mutual was doing those 125% deals. The reality on the ground was that many people here just sold their house to the bank for more than the market value.
Today’s luxury apartment building is tomorrow’s overpriced condos for sale.
Today’s luxury apartment building is tomorrow’s overpriced condos for rent.
Liftoff is on indefinite hold, thanks to a Goldilocks job market report. The stock market can only go up from here. Buy now or get priced out forever!
MarketWatch dot com
U.S. jobs growth slows in August
By Jeffry Bartash
Published: Sept 2, 2016 9:14 a.m. ET
Unemployment rate flat at 4.9%; Fed rate hike unlikely soon
…
Where’d that Bay Area housing shortage go?
Real Estate Inc.
S.F. has a condo glut, with massive supply and dwindling demand, report says
Jul 7, 2016, 6:48am PDT
Updated Jul 7, 2016, 9:21am PDT
Riley McDermid Digital Producer
San Francisco Business Times
…
FTA: “The S.F. market is clearly in some kind of transition, currently at a relatively moderate pace, hopefully signifying what is called a soft landing from an over-exuberant state,” Paragon says.”
—
Hopefully.
Soft landing — they bring out that term every few years. Come to think of it, I don’t recall ever having seen a “soft landing” in any market. It’s either boom or bust, it seems.
‘a soft landing from an over-exuberant state’
I’ve asked for a while; what are the chances these speculators will stop at just the exact point of equilibrium?
Soft describes the state of the vehicle and occupants after they slam into the cold, hard ground.
Wow, that escalated quickly.
“Soft landing — they bring out that term every few years. Come to think of it, I don’t recall ever having seen a “soft landing” in any market. It’s either boom or bust, it seems.”
It’s a term steeped in wishful thinking and deep denial.
Amnesia and déjà vu are also involved with each turn of the bubble churn.
The right to unpopular dissent is the most important freedom of all.
http://www.businessinsider.com/veterans-colin-kaepernick-2016-9
Drudge Report and Breitbart both want war with Iran.
Breitbart maybe, but I don’t quite get that from Drudge. Maybe I’ve just missed the links.
Drudge cracks me up, some of the stories they link to.
It’s always lurking somewhere on both sites.
Iran is the 18th largest country in both land mass and population. How much will a boots on the ground invasion, overthrow, and occupation cost? $2 trillion? $5 trillion? $10 trillion.
Securing the Realm. Yes, Realm.
I read most of the New Testament recently (pocket copy while on camping trip without internet) and I couldn’t find the part where Jesus talks about the Rapture.
You were reading the wrong version, lol.
The rapture is when all these house prices get cut in half — all those dollars, they get Raptured.
I just did a Google search on “when was the rapture invented” which attributes its rise in popularity (not necessarily its invention) to the 1830’s.
There is an unquestionably significant voter demographic that believes in these Sky Wizard fairy tales, and if war with Iran is what they want, war with Iran is what we’ll get.
It is a death cult morally indistinguishable from Islamic State.
“It is a death cult”
And right out in the open. When your primary logo is a picture of a dead guy nailed to a couple of planks of wood. Can’t get any more ‘death cult’ than that. It’s just the most popular one.
Catholics, Eastern Orthodox, and Protestant denominations that weren’t hijacked by hallucinatory visions of Sky Wizardry are not death cults.
As an American citizen and taxpayer I can’t support a foreign policy based on this:
http://www.raptureready.com/
Here’s a question for ya:
Why did the Eastern Roman (Byzantine) Empire last so long (1200 years) and why don’t people hear that much about it?
When your primary logo is a picture of a dead guy nailed to a couple of planks of wood. Can’t get any more ‘death cult’ than that. It’s just the most popular one.
So now we’ve got anti-Christian sentiment expressed.
Why don’t these thugs just cooperate and graduate?
I have a dumb question about rental agreement contracts, a theoretical situation. Let’s say you sign a lease for an apartment for a year, and mid-way through, rent prices collapse and the unit you are renting is now only fetching half of what you signed to pay every month.
Contracts are contracts and I believe should be respected, but is it outside the realm of reality for the tenant to be able to re-negotiate the lease so they aren’t paying so much?
The landlord will tell you to pay up.
Yeah. I did some googling around on the topic, and it’s not unheard of, depending on circumstances, if you present your case well, possibly signing a longer-duration lease at a lower price.
If I think about it in reverse, I wouldn’t want my landlord trying to increase my rent in the middle of a contract either, so…
Break your lease and move, the cost penalty will be described in your lease. The process and penalties vary by locale, but it has the potential to save significant money in this scenario.
This is probably bad advice. Say your lease is $1,000 and rents collapse to $700. Send a check for $700. What’s the landlord going to do? Evict you, spend a whole bunch money preparing for a new tenant who will pay… $700… plus lost rent in the meantime. Then chase you for $300 shortage for years? I don’t see the downside.Oh wait, the shame. THE SHAME!
‘It is no secret that builders, politicians and bureaucrats use their intervention powers to curtail land supplies to hold prices high even when there is no real demand. This is because the bulk of their benami wealth in held through land and properties.’
From the web:
‘Benami is a Persian language word that means “without name” or “no name”. In this Act, the word is used to define a transaction in which the real beneficiary is not the one in whose name the property is purchased. As a result, the person in whose name the property is purchased is just a mask of the real beneficiary.’
Judging by what I read, India is a really corrupt country.
Makes me wonder where the benami wealth generated from holding San Diego County land out of development flows.
I just finished reading “Behind the Beautiful Forevers,” and you got that right. The day-to-day corruption in India is so bad that it makes Brazil look like Finland.
And it’s funny - watching the east Indians buy land around me, having absolutely no clue about the myriad of rules & restrictions that they are up against.
They don’t realize that in this country, only the really big developers get to bribe the politicians.
“The last major piece of the east side of the former Gates campus has been sold to an apartment developer with plans to add 400 residential units to the 30-acre redevelopment along South Broadway.
San Francisco-based Carmel Partners closed Thursday on a 4.37-acre parcel due east of the new Sprouts Farmers Market at 201 E. Mississippi Ave. McKinnon and Associates, LLC was the seller.
For McKinnon and Associates, which has been working on Gates East, the former Gates Corp. holdings on the east side of South Broadway, since 2005, the sale marks the successful completion of a revitalization effort.\
“It really brings our entire investment into the Gates East campus full circle,” said Doug McKinnon, owner and manager of McKinnon and Associates.”
http://www.denverpost.com/2016/09/02/gates-east-redevelopment-apartment-south-broadway/
I briefly lived in a Carmel property before moving into my current rental and it was a total dump. Built in the 80s or 90s and just falling apart. As I was moving out they had started exterior renovations on balconies, doors, trim, all of which does nothing to improve the sh*tty quality construction of the buildings themselves.
The Idle Army: America’s Unworking Men - WSJ
http://www.wsj.com/articles/the-idle-army-americas-unworking-men-1472769641 - - Cached - Similar pages
15 hours ago …
wait till hitlary gets in and declares WOM
war on males
no high heels,no Viagra, HILLoxa brigades
Hillary ain’t gettin’ in anywhere, at this point. With the new batch of emails and interviews and other stuff today, I expect the announcement of her withdrawal any day now. No doubt she’s already been in some talks to manage the process. Watch for the Obama press conference.
https://www.youtube.com/watch?v=D4Z4pB6TogM
It never gets old.
Six months from now there will stuff on YouTube showing her stumbling out of Air Force One. At least she’s not a socialist!
More like sliding out in a coffin over the ocean.
That’s a really dark comment, Palmetto. I still recall the feeling of collective national loss growing up when JFK was assassinated and later, when Ronald Reagan was shot. Not an experience to wish for…
It makes me wonder if a lot of these health videos are intentionally put out there by her own staff, because they know there is real risk of jail, so perhaps they want to try to get her in some kind of “medical jail”, not federal “pound me in the ass” prison.
Then again, Obama’s going to pardon her anyway.
From what I could tell, there doesn’t seem to be any limit on the number of pardons a President can issue. Former presidents have pardoned hundreds.
Perhaps Obama could just pardon the entire US government, every single employee in all branches, regardless if they did anything wrong. Just one blanket pardon for all.
We can draft ‘Murica’s unworking men to fight China’s womanless men. Problem solved.
Los Angeles Times book review:
“What went wrong? That’s the unspoken question behind every page of Milton Viorst’s “Zionism,” a smart, analytical, engaging history of the people and ideas that built the state. Viorst, a former Middle East correspondent for the New Yorker, tells the story through the lives of eight preeminent leaders whose perseverance brought the country into existence and shaped its character — Theodor Herzl, Chaim Weizmann, Vladimir Jabotinsky, David Ben-Gurion, the Rabbis Kook (Abraham Isaac Kook and Zvi Yehuda Kook), Menachem Begin and Benjamin Netanyahu. But the unmistakable message of the book is that the Zionist project was derailed somewhere along the line and that only by grappling with its biggest questions can it be put back on track.
For instance: Is it possible for an avowedly Jewish state to offer equal rights and democratic privileges to its Arab citizens? Is anti-Zionism actually just another manifestation of anti-Semitism? How do you separate legitimate security concerns from territorial ambitions? Who bears more of the blame for the failure of 100 years of peace-making efforts, Israel or the Palestinians? Was Zionism — the secular, progressive, Europeanized movement with its roots in Enlightenment rationalism — hijacked and transformed? Could Israel regain its standing in the world by ending the occupation?”
http://www.latimes.com/books/jacketcopy/la-ca-jc-zionism-viorst-20160825-snap-story.html
‘Obamacare rate hikes rattle consumers, could threaten enrollment’
‘Many argue that premium costs — even when heavily subsidized by the government — are too high. The health law considers it affordable if insurance premiums cost 6% or less of income for those earning under 200% of the federal poverty limit, or about $40,000 for a family of three.’
“That’s really, really asking a lot,” says John Holahan, a fellow at the Urban Institute’s Health Policy Center. “The way it was designed, it was almost destined to not work.”
Remember the posters here smugly telling us this was a backdoor route to universal pay? “He he, it’ll fail and then you’ll be forced to have the government take it over!!”
Here ya go Smarty Pants:
‘In Delaware, Gavin Braithwaite and his wife Lou are facing a proposed 32.5% increase in their Highmark Blue Cross Blue Shield plan for 2017, which is especially painful as it comes on top of a more than 55% increase in 2016 and a nearly 24% hike in 2015.’
“Already our retirement savings are being severely impacted,” Gavin wrote to his state senators and other officials this week. “Where will this trend leave us in 2018 and beyond?”
‘Gina Brodie of Tucson bought an individual policy for about a decade before the ACA and says she’s fed up with increasing premiums. Brodie and her husband have been paying more than $900 a month for an gold-level plan they bought on Healthcare.gov even though she gave up trying to find a primary care doctor who would accept her insurance over the summer.’
‘With all but two insurers expected to leave her county for 2017 and the state insurance commissioner questioning how much leverage he has given the departures, Brodie and others in her state are wondering how they will afford insurance and what it will be worth next year.’
“It is quite infuriating to read about how all the insurance companies are losing money, when we rarely, if ever, have utilized our many insurance plans over the years,” says Brodie, who has a form of chronic arthritis that she would like treated. “Those insurance companies have made nearly 100% profit on us, while we got either zero benefits or zero access to the system.”
Listen to these complainers! Don’t you know this was a SIGNATURE ACHIEVEMENT! What are your little lives and monies compared to the legacy and ego of the great golfer, Mr Pretty Good at Killing People?
$900/month and can’t even find a doctor to take it.
I used to have the most premium cadillac private insurance, and still it was impossible to find a PCP taking on new patients.
I’m waiting, with great unease, for my annual notice of premium increase. The name of the law becomes more Orwellian every day, because for many people this isn’t affordable at all.
Sound like the impending collapse of the American healthcare system is approaching.
I hope a lot of other things are slated for collapse too. Like overpriced houses, cars, etc….
The impending collapse of AMERICA is approaching. We’ve been subverted and corrupted by everything the Founding Fathers warned us against.
So the collapse is both impending and approaching. Yet none of us will live to see it.
You are already living thru it. It’s a whimper not a bang.
So you disagree with Ray. It’s already happening, not approaching or impending. This sounds likes it should be a big controversy in the gloom-and-doom community.
It makes ZERO sense for most people to be purchasing these plans. BANK the premium money in cash while going naked, take care of your health, and pray you don’t get cancer or something bad.
That might make sense if you’re 25, healthy, and don’t have a family to insure as well. I am in good health but don’t otherwise fit that profile.
Blue Cross wins, congress/POTUS do nothing.
I hope Spendy McSame gets reelected!
Stupid should hurt.
someone here mentioned builders offering new homes cheaper than resale per sq ft
is that easy to find?
Have a friend considering buying in Orlando and it seems ripe for cheap development- land everywhere, bubbly action
tia
This is a letter to the editor in response to an article I posted recently:
‘Letter: Richmond realtors need to dry their eyes’
‘Dear Editor,
Re: “Market cools but realtors differ on trend,” News, Aug. 24.
Steveston realtor Sean Lawson commented that the government dropped a bomb on realtors and contractors by instituting the 15 per cent tax on foreign investors.
The comment I would like to make to Mr. Lawson’s claim is, “Too bad.”
For the past two to three years, Richmond residents watched homes being torn down and replaced with mega houses, mainly purchased by foreign buyers parking their money here.
In addition, they’ve watched realtors shadow-flipping, while others simply needed to show up and to watch multiple buyers getting into bidding wars, often at 10-20 per cent over the asking price.
So, are we actually supposed to feel sorry for those realtors and contractors who seem only concerned about their own incomes, and often care less what happens to our communities, or whether young families can ever afford to purchase here?
I don’t think so! It’s about time the brakes were put on. Maybe a moratorium on foreign buying could have been an alternative solution, as they (partially) did in Australia. But at least this new tax has slowed the insanity here.’
“Maybe a moratorium on foreign buying could have been an alternative solution, as they (partially) did in Australia.”
That’s a great idea. Is there any chance President Trump will enact such a measure to help Make America Great again?
‘Like so many bright, young entrepreneurs these days, Isaac Choi arrived here last year, set up shop and promised employees that he would lead them to the Silicon Valley dream.’
‘That dream is turning out mostly to be a mirage.’
‘This week, Mr. Choi’s company, WrkRiot, began unraveling in a highly public fashion. Its former head of marketing revealed that the start-up had been mired in internal chaos and had sometimes paid employees in cashier’s checks before delaying payment altogether. She also alleged that Mr. Choi had forged wire transfer documents to make it look as if compensation were on the way. By late Tuesday, WrkRiot had taken itself offline. The veracity of Mr. Choi’s credentials are now also in question.’
‘While WrkRiot is not widely known, the start-up’s collapse has gripped Silicon Valley. Mr. Choi’s situation may be extreme, but the company’s implosion has a familiar ring to many who came west to be the next Mark Zuckerberg — but ended up instead at the next WrkRiot. Silicon Valley is always eager to celebrate its success stories, but the reality is that numerous tiny start-ups that few ever hear about form the tech industry’s dysfunctional underbelly.’
Been tellin ya, Silicon Valley is where Yellen bucks go to die.
‘When Andy and Amy Isaacson looked at buying a home in Palo Alto, California, for their expanding family, the least expensive one they could find was $1.5 million. The couple and their three daughters instead moved to Omaha, Nebraska, where they have a $500,000 four-bedroom house with a sprawling backyard.’
“We’re both professionals and we were reaching into savings each month to make ends meet,” said Andy Isaacson, a 35-year-old software engineer, whose wife worked as a clinical research coordinator at Stanford University before their April move. “Something had to give.”
‘Adrian Fine, the planning and transportation commission chairman and a city council candidate, who grew up in Palo Alto, said he and his fiancee, who both work in the tech industry, pay more than $3,000 in rent for a one-bedroom apartment, three times the mortgage payment his parents make for a house that they bought 20 years ago two blocks away.’
“For young professionals, it’s really hard to get a toehold here unless you’re coming from existing wealth or you’re one of the lucky few who your company IPOs and you make a ton of money,” Fine said. “That’s frankly a bit of a myth. It doesn’t happen so much anymore.”
And they saw these maroons coming from two states away:
‘Omaha, Nebraska, where they have a $500,000 four-bedroom house’
They massively overpaid in Omaha too. Some people are never on the winning side of a purchase.
I couldn’t believe that. $500,000 in Omaha? I mean, I know Warren Buffett is from there, but why would you spend that amount in Omaha? Because they’re professionals!
According to the property transactions section of the Omaha paper, here is the house the couple bought. Really, this design, and this McMansion neighborhood, could be almost anywhere. Can someone from Omaha say whether this is an unusually desirable place to live? Maybe it’s awesome, but at least from the pictures it looks like a humdrum suburban existence.
http://www.zillow.com/homedetails/754-N-163rd-Ave-Omaha-NE-68118/75840826_zpid/
$500,000 used to be enough to buy a serious mansion in Flyover on an estate-sized piece of property. And now it’s only enough to get you into a crappy tract home?
The Fed’s Housing Bubble reflation efforts certainly are a success!
Architecturally the house is plain, but not terrible. 1992 is a bit pre-McMansion. And I guess hum-drum is what’s best for a family with 3 daughters.
That said, I’m sure they could have found something a little better in Tulsa.
Whelp, it’s got that trendy red door going for it. I thought that went out of vogue a year ago. Oh right, it’s Omaha.
In my Colorado ski town (not one of the famous ones), $500,000 wont even get you a decent half-duplex. But in Texas, that money will buy a mansion on a golf course. locations are impossible to compare.
“…it’s really hard to get a toehold here unless… you’re one of the lucky few who your company IPOs and you make a ton of money,
…
That’s frankly a bit of a myth. It doesn’t happen so much anymore.”
I heard that one alot to explain the crazy San Diego prices in the runup to the 2007-08 collapse.
Turns out that it was mainly crazy loans that explained the mania pricing.
Omaha has better quality of life than CA. Only downside…3 months of brutal winter.
LOL! Ever been to Santa Barbara? Napa? Carmel? Yosemite? Channel Islands? Do you fish? Mtn bike? hike? Surf? Drink wine? Like beautiful women?
Well, dang it, I was wondering what happened to CalifhoH2o, or whatever the last moniker was. I was going to ask what happened to ya.
Dude, you speak like a provincial queen. You know nothing!
I divide my time between So Cal and midwest.
Have you ever been to Nebraska?
I was going to ask what happened to ya.
DNC and Philly will do that to you.
I divide my time between So Cal and midwest.
So in other words, you don’t spend much time in Northern CA (which is practically an entirely different state than So Cal).
My wife was just courted by someone for a pretty nice job in So Cal. We currently live in Nor Cal. There isn’t a chance in hell that we would move–and my wife grew up in the OC…she doesn’t want to move back.
Northern CA
Irrelevant. The discussion was about quality of life.
2/3rd of Nepal is prettier than SoCal/NoCal (except for the ocean of course). Do the Nepalis enjoy a decent quality of life just because they live in some of prettiest parts in the world?
Let’s not conflate the issue here.
You forgot to mention that most have little to no time to enjoy any of the things you list because of the insane cost of living and the brutal traffic, but hey, keep selling the dream - lots of suckers out there.
Not only that what kind of low life would be proud to commute 60 to 90 minutes each day to stare at computers for next 12 hours at salesforce.com (yuck!). But hey, there’s free lunch, right?
So in other words, you don’t spend much time in Northern CA (which is practically an entirely different state than So Cal).
If you referring to the whole northern half of the state, you have a point. But if it’s the Bay Area you’re talking about, the differences are not that significant. The weather’s nice, but the traffic is miserable and the cost of living very high.
If you referring to the whole northern half of the state, you have a point. But if it’s the Bay Area you’re talking about, the differences are not that significant. The weather’s nice, but the traffic is miserable and the cost of living very high.
————–
The differences are significant.
I grew up north of the Golden Gate, and live now on the Peninsula, and while I agree the Peninsula is crowded, I find it MUCH nicer than So Cal (where I go frequently for work and to visit in-laws).
So Cal is much drier, hotter, and as much as you say the traffic is just as bad, I don’t think there is a single road in Northern CA that is as bad as I-5 through LA.
In So Cal, you can’t escape the crowds unless you travel east, or north or south, in nearly all cases, you end up in what is effectively the desert, and in some cases–Mexico. If you head to the ocean, there are still plenty of people. North SD County and South OC are nice, but getting more and more crowded.
In the Bay Area, you can escape west to the ocean, and while the roads can be crowded heading there (since there are only a couple of ways to go), there aren’t nearly as many people as the coastal communities in So Cal. And between the dense population on the peninsula and the coast, you have Redwood forests, biking and hiking.
North of the Golden Gate, you have similar situation, except there are even fewer people along the coast (Stinson Beach, Point Reyes, etc.), and if you are far enough north, going east, you have Napa, etc. All of this is within striking distance of SF.
It is MUCH harder to escape the crowds in So Cal and stay in a nice areas than in Nor Cal…even when compared to the Bay Area.
Can’t argue about the cost of living.
Both areas are huge, so generalizing is not easy. I just looked up the current temperatures. Right now it’s 73 degrees in San Jose, 69 in Mill Valley, 74 in LA, and 75 in Malibu.
Last year I met a couple who live on Treasure Island in the San Francisco Bay. One thing that they asked me about as a way to make conversation is which TV series I enjoy watching on the Internet. They listed quite a few that they enjoyed. So much for all of the wonderful places that they can drive to in a couple of hours.
And meth addicts.
Omaha officer opens fire on pickup after gang unit car rammed
By Alia Conley / World-Herald staff writer
Updated 14 hrs ago
Robert S. Coffman
An Omaha police officer fired a shot at a pickup truck Tuesday night after the pickup was driven into a police car, officials said Wednesday.
Police say the pickup driver, Robert S. Coffman, 30, was arrested after the incident. Coffman was being sought on a warrant charging him with possession of meth and flight to avoid arrest.
No one was hit by the bullet.
…
So you went and searched the internet for bad news form Omaha?
TBF meth addicts live in their own paradise.
Still I bet there are more meth addicts in So Cal than the whole state of Omaha
“So you went and searched the internet for bad news form Omaha?”
Nothing too extensive…just entered ‘Omaha’ and ‘gangs’ into Google and a whole bunch of good stuff showed up.
I do recall my cousin mentioning to me she moved her family away from Omaha out to the sticks of western Nebraska to get away from the gangs.
“Still I bet there are more meth addicts in So Cal than the whole state of Omaha”
Irrelevant.
What matters is the percentage of population who are meth addicts, and whether you can avoid them. My guess is that a lower percentage of SoCal citizens are on meth, and that they are easier to avoid than if you live in a flyover urban area like Omaha.
Just within the past month or so, single family home prices on Zillow, Trulia, realtor.com have jumped. Homes I was looking at in past month for $145,000 to $185000 are now $175000 to $240000. There is low inventory and what’s available that’s decent is snapped-up quickly. Have no idea where all these buyers are coming from? I know locals aren’t happy about resale price trend as of late. Phoenix has huge inventory of houses, so things are a bit different down in that hell hole.
lol
Martians are snapping everything.
Trumps Mexico City Triumph—–An Election Turning Point
by Patrick J. Buchanan • September 2, 2016
http://davidstockmanscontracorner.com/trumps-mexico-city-triumph-an-election-turning-point/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost
https://i.sli.mg/IrrLhc.gif
PS: If you’re not a Trump supporter, don’t look, unless you’ve got low blood pressure.
That’s a joke, right?
The “persons” who support Citizens United want to “make America great again” and want to constrict the supply of labor in the USA and also want higher tariffs on imported goods.
https://www.washingtonpost.com/news/post-politics/wp/2016/09/01/trump-enlists-veteran-operative-david-bossie-as-deputy-campaign-manager/
the sh@ttier the economy gets the more stawks go up. We live in interesting times for sure.
Yep… ‘merica.
The Coming Storm for Global Financial Markets
32SEP 2, 2016 10:38 AM EDT
By
A. Gary Shilling
Global growth is weak, and will be eroded further by Brexit. Oil prices are low, and likely to plunge further. The world has excess capacity and a wage-depressing labor surplus. Corporate profits are shaky. And deflation is laying bare the impotence of central banks. So where would you logically expect financial markets to be going, given that economic, financial and political environment?
You’d expect to see increased demand for safe-haven U.S. Treasuries, a soaring dollar, falling commodity prices, and increasing investor aversion to junk bonds, emerging market debt and equities and other low-quality securities. But that’s not the case….
https://www.bloomberg.com/view/articles/2016-09-02/a-storm-is-brewing-in-global-financial-markets
He will be right one day. Nobody should want that…..LOL
add POT to the crash
http://finance.yahoo.com/news/price-pot-tumbling-colorado-185100653.html
folks figured out its a bore
It’s legal now, and a flood of new supply is trying to establish the new equilibrium price, which is way below the black market price.
In October, the cost of a wholesale pound of cannabis was around $2,400 to $2,600. That price has almost been cut in half to between $1,400 and $1,600 last month
This price is for within the state of Colorado only. Moving product east means crossing Nebraska, Kansas, Oklahoma, etc. If you can get it to Dallas, Chicago, New York, Miami without getting arrested that is how the real money is made.
Mexican dirt weed (low potency, seeds, stems) is still a significant part of the market in states where it isn’t legal.
Nice try, Reuters, but I’ll believe what people in the biz tell me, not what real journalists say…
We had an article in our paper here last weekend about a mother who wanted to try cannabis oil for her young son with brain cancer that a surgery could not entirely remove. She risked arrest and prison to drive it from Colorado to Florida. Sadly, even with the oil he passed away.
Sadly, even with the oil he passed away.
Sadly, that’s not surprising. I wonder where she got the idea that cannabis oils is an effective treatment for brain cancer.
I’m old enough to remember way back when people would grow marijuana behind their parents’ tool shed. Didn’t cost $2,400 a pound.
It’s called “weed” for a reason.
Pot is something you smoke…NOT EAT, you idiots.
The “wanna be kool” WASPS ruined everything.
Have you tried legal retail edibles? They’re alot better than those brownies you made back in college. Alot better.
Not for me. I guess I am ol’ skool.
was $5k a lb in the 90’s in CA. Seems like it will be less than $100 a lb someday, too easy to grow on your own. Heirloom tomatoes are more of a challenge. Hope CO does not plan on this revenue for decades.
That article fails to distinguish between legal and illegal grows in Colorado.
The riff-raff quotient has gone up dramatically since pot was legalized in Colorado. Vagrants are on every street corner now trying to bum enough handouts for their next OD.
I love living in South Denver. It has its plus and minuses (alot of minuses). You ever been to Genarro’s? Get south of Alameda and Denver’s still pretty real..
Remember the gov does not create jobs, we want less gov, not more.
The U.S. added 151,000 jobs in August
Never has ,never will
Only transfers $ after going through a tight filter in dc
Hilary will hire thousands like Barack ma/Bush
It sounds like government does create jobs.
they might get .70 cents on the dollar — he knows debt!
The New York real estate magnate and his allies have touted his campaign’s frugality, saying it is evidence of his management skills. His campaign’s spending has totaled $89.5 million so far, about a third of what Democratic rival Hillary Clinton’s campaign has spent.
But not compensating top people in a presidential campaign is a departure from campaign finance norms. Many of the positions involved might typically come with six-figure annual paychecks in other campaigns.
“It’s unprecedented for a presidential campaign to rely so heavily on volunteers for top management positions,” said Paul Ryan, an election lawyer with the campaign finance reform advocacy group Campaign Legal Center.
Better do your Christmas shopping early, folks! Retailers are already asking for a bailout:
http://www.zerohedge.com/news/2016-09-02/ripple-effect-could-be-tremendous-retailers-demand-government-bailout-after-hanjin-c
I have no clue what’s on those ships, my guess is bigger ticket items like cars, appliances and riding-mowers. Probably the dolls and toys and smaller stuff go via air, but still, looks like it could be a tad grim for some.
“U.S.-bound cargo has been delayed at the point of origin, and cargo-laden Hanjin ships are unable to get into U.S. ports. Worse, already delivered cargo is sitting unhandled, clogging ports and occupying containers needed elsewhere.”
Sounds like a massive supply glut may be piling up somewhere until the situation is resolved. Why not wait until the economic version of Milk of Magnesia relieves the blockage, flooding the market with cheap Chinese crap, and buy it later for half the price?
Hanjin only carries about 7% of US-bound freight. Given the massive overcapacity in that sector, the hit should be limited to those retailers who have cheap plastic Chinese-made crap in containers on those ships that may not be unloaded for months.
Once the Comrades of Proven Worth (D) have their permanent Democrat supermajority and can impose their collectivist kleptocracy, any popular resistance to these socialist grifters will be called a conspiracy or coup. Watch Venezuela for a preview of coming attractions. Forward!
http://www.businessinsider.com/r-after-huge-venezuela-protest-march-government-says-foils-coup-2016-9
This is who PB wants as our next president. Words fail me.
http://www.businessinsider.com/hillary-clinton-fbi-report-classified-markings-2016-9
“Words fail me.”
Opening people’s eyes up to Trump’s thuggishness is not an endorsement of Hillary, no matter what you say.
Trump or Goldman Sachs. It’s as simple as that.
How long can the sh@t show on wall street last? Seems like we are way overdue for a major correction. Do they think people are that stupid to buy into the bs?
Do try to keep up with the news.
Goldman Sachs
You’ll Have Goldman Sachs To Thank For President Trump
By Jon Shazar
Aug 18, 2016 at 2:10 PM
The relationship between the G.O.P. nominee Donald Trump and Goldman Sachs has been strained this election season, to say the least. He’s been more than a little dismissive of Wall Street—and even worse to Goldman’s candidate-in-law Ted Cruz. One might even get the idea from his supporters that he’s no fan of the bank of which he is a shareholder, an antipathy that Lloyd Blankfein, Gary Cohn, et. al. apparently share in reverse—not that they needed to worry about it. On the other hand, when the Donald surprised everyone including himself by winning the nomination and thus needed to consider having a campaign finance chairman/Treasury Secretary-designate, he turned to the ranks of the Goldman Sachs alumni association.
…
Kodos: It’s a two party system! You have to vote for one of us!
Man: He’s right, this is a two-party system.
Man 2: Well, I believe I’ll vote for a third-party candidate.
Kang: Go ahead, throw your vote away.
So, is Trump Kang and Clinton Kodos? Or is it the other way around?
IIRC that Simpsons episode was during the 1996 election between Bill Clinton and Bob Dole.
Those of you who can’t stand the thought of another four years with the Clintons in the WH, take heart. Hillary is not inevitable. It ain’t over until the fat lady sings.
There’s a serious chance that Trump could still beat Clinton
Jake Novak
6 Hours Ago
CNBC.com
There is a widespread belief that a Hillary Clinton presidency is a done deal.
Hillary Clinton supporters and a large portion of the mainstream news media have been convinced for months that Clinton simply cannot lose to Donald Trump under any circumstances. As a result, they see every twist and turn in this election as more proof that Clinton is succeeding and Trump is failing.
…groupthink mentality … led to the 2008 financial crisis that the U.S. economy is still struggling to dig out of. There was a widespread belief on Wall Street leading up to the housing market’s collapse that subprime borrowers (i.e., people who might have trouble paying their mortgages) were a bottomless pit of growth and potential profits.
You and I now know how that turned out.
That sort of groupthink mentality about the inevitability of a Hillary Clinton presidency is in full force today. And it has already led to some serious errors.
…
Lying to the FBI is perjury punishable by a 5-year prison sentence if a prole does it. But Crooked Hillary is literally above the law.
http://www.weeklystandard.com/article/2004146/
What quality of life involves stuck in traffic trying to get to your 2 or 3 jobs from house/apartment you can’t afford? I know cuz I employ them.
Nothing defines quality of life like mandatory water cuts.
We must lower standards to ensure equality of outcomes and turn our military into a garden for the vegetables who would choose a career in such a socially engineered, politically correct job corps. Forward!
https://theextract.net/2016/09/02/first-female-tries-and-fails-to-join-elite-army-ranger-unit/
Soaring “at risk” debt can always be printed away by Yellen the Felon.
http://www.zerohedge.com/news/2016-09-02/sp-notes-high-yield-credit-quality-worst-2009-risk-debt-soars-359bn
Why building a wall won’t work.
http://www.businessinsider.com/inside-mexican-drug-cartel-narco-tunnels-on-the-us-mexico-border-2016-9
Liar liar pantsuit on fire.
http://www.breitbart.com/2016-presidential-race/2016/09/02/hillary-clinton-repeatedly-not-recall-details-email-account-fbi/
A criminal sociopath, pathological liar, and serial influence peddler is the kind of leader to guide America through the treacherous shoals ahead. Forward!
https://www.washingtonpost.com/world/national-security/fbi-releases-hillary-clinton-email-investigation-documents/2016/09/02/21bd3682-704c-11e6-8365-b19e428a975e_story.html
According to Poltifact, Trump lies more…alot more. Which is unsurprising, given that about every other statement he makes without the aid of a teleprompter is made up.
Compare the Truth-O-Meter scorecards of Donald Trump and Hillary Clinton.
…
As long as Apple and other oligarch-owned corporations make their required donations to the DNC and Clinton Foundation, they can count on paying a pittance in corporate taxes - the essence of crony capitalism. Forward!
http://www.breitbart.com/california/2016/09/01/apple-says-cutting-taxes-359944-per-1m-profit-fair/
Our permanent Democrat supermajority is not going to build itself. We must import and resettle millions of refugees from Hillary’s neocon wars. Forward!
http://www.breitbart.com/big-government/2016/09/02/number-refugees-sent-michigan-increased-65-percent-one-year-come/
A bad jobs report was clintons early xmas gift! LMFAO
Too $hort - Money In The Ghetto (Oakland):
https://www.youtube.com/watch?v=AvBjzuc_vXU
That song sucked sh*t through ten bricks.
I always liked this one better. Biggie — Everyday Struggle:
https://www.youtube.com/watch?v=rogvlB2SP4k
CCR - Bad Moon Rising.
https://www.youtube.com/watch?v=H06_0ApzkzY
John Mellencamp - Jackie Brown.
https://www.youtube.com/watch?v=UhTxL4FzP-Y
Technically it’s not a song, as there is no melody. It’s merely an atonal, primal chant set against a canned rhythm track.
The German sheeple, like their ‘Murican counterparts, voted for a globalist water carrier for the banksters. They got what they voted for good and hard, and now they seem to have buyers’ remorse. The ECB, which has counted on Merkel to put German taxpayers on the hook for never-ending bankster bailouts, will have to cram through any final swindles while it still has a willing toady in Merkel and her Establishment CDU Quislings. The “far right” (as the media and Establishment labels anyone who stands up for their sovereign nation and countrymen) is on the rise in Germany, thanks to Merkel, and they won’t put up with throwing German taxpayers and citizens under the bus on behalf of the oligarchy.
http://www.express.co.uk/news/uk/706499/merkel-defeated-own-state-AFD-weekend-polls-open-door-immigration-far-right-Holm
Hurricanes and Zika and bears, oh my! (This is surely bullish for housing.)
http://www.businessinsider.com/hurricane-hermine-intensifies-zika-fears-as-it-pounds-florida-2016-9
EMBRACE INFLATION!
The Oligopoly media is intensely hostile to “trolls” who call BS on The Narrative.
http://www.breitbart.com/milo/2016/09/02/milo-stuns-abc-nightline-trolls-ones-telling-truth/
Another example of a far-right a–hole foreigner stirring up trouble in America. In other words, he’s a collectivist globalist. If Trump could keep people like him out of the country, he’d be worth considering.
‘If Trump could keep people like him out of the country’
So you’re not against immigration controls, as long as it’s used against people you disagree with. You still seem kinda angry these days. I wonder why?
That was a little joke. I’m not that angry. All of the right wingers who post to this blog are much angrier.
You sure do bring in lots of Breitbart links. It’s almost as if you read just one news source 24/7. Are they considered fair and balanced?
Douglas County deputy in critical condition after shooting, suspect dead in Parker:
“Shots fired! Shots fired! Shots fired!” an officer yelled. “Man down! One of ours!”
http://www.denverpost.com/2016/09/02/parker-police-gunman/
One of ours?
Sorry but I can’t do pig narratives. And the Drudge Report and the Huffington Post are full of them.
Extreme up-close video of tornado near Wray, CO!
https://www.youtube.com/watch?v=bjb7QtMEBUg
Is that a cow at 1:22?
Looks like trash. But how did that goose-neck trailer that blocked the road near the end get there? And notice the 18 wheeler off to the right just as all the trash appeared.
That goose-neck trailer had to fly there because it didn’t have any wheels.
Pretty awesome video.
Jeez, that’s terrifying. Those guys are nuts.
Clinton Told FBI She Couldn’t Recall Key Details 26 Times
In interview with investigators Hillary struggled to recollect major briefings, especially after 2012 fall
by Jim Stinson | Updated 02 Sep 2016 at 3:06 PM
Clinton could not even recall when she got her security clearance. She told FBI agents she wasn’t sure if she carried it over from the U.S. Senate or if she got it from State. But perhaps even worse, Clinton told FBI agents she couldn’t even remember any briefing or training by State “related to the retention of federal records or handling of classified information.”
That admission could raise the question if Clinton was ever trained at all in handling secret information.
Below is the list of things Clinton could not recall in the FBI interview:
When she received security clearance
Being briefed on how to handle classified material
How many times she used her authority to designate items classified
Any briefing on how to handle very top-secret “Special Access Program” material
How to select a target for a drone strike
How the data from her mobile devices was destroyed when she switched devices
The number of times her staff was given a secure phone
Why she didn’t get a secure Blackberry
Receiving any emails she thought should not be on the private system
Did not remember giving staff direction to create private email account
Getting guidance from state on email policy
Who had access to her Blackberry account
The process for deleting her emails
Ever getting a message that her storage was almost full
Anyone besides Huma Abedin being offered an account on the private server
Being sent information on state government private emails being hacked
Receiving cable on State Dept personnel securing personal email accounts
Receiving cable on Bryan Pagliano upgrading her server
Using an iPad mini
An Oct. 13, 2012, email on Egypt with Clinton pal Sidney Blumenthal
Jacob Sullivan using personal email
State Department protocol for confirming classified information in media reports
Every briefing she received after suffering concussions
Being notified of a FOIA request on Dec. 11, 2012
Being read out of her clearance
Any further access to her private email account from her State Department tenure after switching to her HRCoffice.com account
It is a “time-honored tradition in Washington scandals” to claim one doesn’t recall as they were busy being busy Washington officials, The Associated Press said in a 2005 report on common criminal defenses inside the Beltway.
http://www.lifezette.com/polizette/clinton-told-fbi-couldnt-recall-key-details-26-times/ - 89k -
It’s so far beyond the pale at this point. This is the weirdest election ever.
And then back in the “normal” world, bubbles everywhere. Bubbles in the bond market, the stock market, the housing market… everywhere you look, more bubbles. Heh.
And those bubbles lie outside the realm of political policy. In fact, in the view of the PTB, they are nonexistent.
Hillary’s FBI interview set to music.
https://www.youtube.com/watch?v=Z_oBVV1l86A - 229k -