Stagnant Inventory At Unrealistic Prices
A report from the Culpeper Star Exponent in Virginia. “The latest news in the long-stalled Clevenger’s Corner mega-development and other housing projects topped the Friday morning agenda of the Culpeper County Board of Supervisors retreat meeting. Culpeper County Planning & Community Development Department Director Sam McLearen told the board that Centex Homes recently withdrew its 2013 proffer amendment to build 762 single family homes on quarter-acre lots in the planned neighborhood, Clevenger’s Corne. ‘That’s one of the biggest things that has happened in the last couple of weeks,’ he said, describing the grandly imagined development as a ‘dormant project.’”
“Withdrawal of the 2013 proffer amendment that removed apartments, duplexes and the large commercial component means the project reverts back to its original, closely contested 2005 rezoning that included those features. But the development appears permanently stalled.”
From WFTS in Florida. “They’re called ‘Zombie’ homes: in foreclosure and abandoned. Despite several years since the housing crash, many of these ‘Zombie’ properties that were bought at peak value, and later foreclosed upon, still sit empty in the Tampa Bay Area. That includes a boarded-up home with an over-grown grassy yard on East 26th Ave in Tampa, which sits just around the corner from Rosetta Jacobs. ‘There were renters there, but not legal renters there,’ explains Jacobs’s daughter Lida Williams. ‘Now there’s nobody there and it’s been vacant for months.’”
“According to RealtyTrac , about 7.4% of the foreclosed homes in the Tampa Bay Area are ‘Zombies’ or abandoned. The Bradenton-Sarasota Area has the same percentage. And that percentage not only leads the entire state of Florida, but is among the highest rates in the entire country. What’s the problem? Florida was among the hardest-hit by the housing crash, and some small banks that made bad loans have been unwilling to sell the abandoned properties for less than the original purchase.”
“‘So rather than make the sale at fair market value they hold on to the stagnant inventory at unrealistic prices,’ explains Vincent Arcuri, a longtime Tampa Bay Area realtor. ‘The homes are over-priced. If you see a home that’s been on the market for a year, clearly it’s an over-priced property or there’s something wrong with it. A big problem for the bank is the longer it sits there,’ explains Arcuri, ‘the roof is leaking, there’s mold issues, then it becomes even less desirable for even an investor.’”
The News Tribune in Washington. “In May 2015, I took a car ride with city of Tacoma code inspection supervisor Dan McConaughy. It was a tour of a handful of derelict homes — 13 of what he described at the time as ‘the worst’ Tacoma had to offer. Back then, there were 308 unoccupied derelict homes on the books in Tacoma, with many of them — about 60 percent, by McConaughy’s estimation — wallowing in what he described as ‘the black hole of foreclosure.’”
“That’s a colorful way of depicting homes that sit in a state of unfortunate financial limbo — where homeowners, who’ve received a foreclosure notice, have moved on, but the bank holding the mortgage has yet to finalize the foreclosure process. So the home sits empty, sometimes for years, with the bank presumably waiting for just the right time to initiate the trustee sale to unload the property.”
“Recently, I decided to check in again with McConaughy — who was nice enough to give me an updated tour of the 13 homes he showed me last year. With the real estate market in Tacoma and throughout the region humming — thanks, Seattle! — I couldn’t help but wonder if the situation with derelict homes stuck in McConaughy’s ‘black hole of foreclosure’ had changed”
“I was surprised to hear the answer. ‘Right now the market’s hot, so you would think of (the banks) selling more. But, no, I don’t see that,’ McConaughy told me. ‘I don’t think the inspectors see that. I’m very disappointed in the banks,’ McConaughy reiterated.”
“How consistent has the problem of derelict homes in Tacoma remained since the last time I wrote about it? Of the 13 derelict and abandoned homes he showed me last time out, seven of these cases have been closed. They’re ‘wins,’ as McConaughy calls them. The trouble? ‘Half of them have been taken care of,’ McConaughy says. ‘But there’s a new 13. That’s for sure.’”
“As of Sept. 6, there were a total of 390 unoccupied derelict homes throughout Tacoma. That’s 82 more than the last time I jumped in the passenger seat of McConaughy’s city-issued Prius. While it’s important to note that not all derelict homes represent foreclosures, McConaughy and Lisa Wojtanowicz, the division manager with Tacoma’s Neighborhood and Community Services Department, confirm that many of them are.”
“While anecdotal, McConaughy sticks by his 60 percent estimate for the number of these homes stuck in the foreclosure purgatory.”
The Alaska Journal of Commerce. “‘There was cautious optimism in the first six months of the year,’ said First National Bank Alaska Senior Vice President Michelle Schuh. ‘Now I think people are just being cautious.’ Schuh clarified that the second quarter of 2016 was steady for her bank, and likely for the rest of the state, but the lack of legislative solutions to the state’s $4 billion budget deficit is starting to affect the business community’s outlook, if not the numbers.”
“Schuh said state budget cuts are the beginning of a trend she hopes doesn’t materialize, with declining home values at the end. Though none of the banks have noticed home values dropping in the state, Schuh said the lack of a state budget solution could produce such a decline.”
“‘If we don’t address the budget, we know we’re going to have state layoffs,’ she said. ‘If you’re seeing lower state employment, and you’re already seeing private sector layoffs happen, your housing concerns are going to be next. That’s where we’re going to see a softening in the real estate market.’”
“Like Schuh, Northrim Chief Financial Officer Latosha Frye said the bank’s balance sheet is still healthy, but the gloom of the state’s fiscal situation is setting in. ‘General sentiment is people are waiting for what’s going to happen next, and every day there’s a barrage of information about all the action the state isn’t taking with fiscal issues,’ she said. ‘It’s just unavoidable. At some point that becomes a downer. The psyche impact takes that to another level, I think.’”
“For credit unions, which have higher rates of consumer loan portfolios than that of banks, number are looking even less optimistic. Alaska’s credit unions, unlike the banks, posted an overall decrease in quarterly net income of 22 percent year over year. Each of the three largest credit unions posted rises in the rate of delinquent loans. Alaska USA’s delinquent loan rate rose a negligible 0.1 percent, but the delinquent loan rate for Credit Union 1 and Denali Alaskan rose by 54 percent and 77 percent respectively.”
’some small banks that made bad loans have been unwilling to sell the abandoned properties for less than the original purchase’
This was literally illegal before the feds changed the rules.
‘Half of them have been taken care of,’ McConaughy says. ‘But there’s a new 13. That’s for sure.’
‘As of Sept. 6, there were a total of 390 unoccupied derelict homes throughout Tacoma. That’s 82 more than the last time I jumped in the passenger seat’
But shadow inventory is a conspiracy theory.
Banks aren’t going to change their behavior until local governments start hitting them with major fines for abandoned homes, making it more costly to play extend and pretend than to unload them for current market value.
True price discovery, when it eventuall asserts itself, is going to be a biatch.
their job is to get u to pay more!
“True price discovery, when it eventuall asserts itself, is going to be a biatch.”
Economic consequences, free-market, merit, etc., are so 20th century.
We made an offer on a short sale back in 2010. Offered $110k, Chase wanted $140k so we moved on. The house is still sitting there, empty, while houses on that street sell for ~$200k. They could easily liquidate it for $150k or more.
It’s like this everywhere I go. When I was north of Dallas in 2014, I drove around and saw abandoned foreclosures everywhere but brand new developments. All it takes is for a reporter to sit in a Prius and drive around with code enforcement to find even more shadow inventory than last year in the oh-so-hot Tacoma market.
But these banks wouldn’t manipulate the market, would they? Wells Fargo just got caught swindling their own customers - by a reporter! These zombie foreclosures (zombie is an accepted statistic, shadow inventory is a conspiracy) are simply foaming the runway for the banks.
‘This is why the revelations in Neil Barofsky’s new book — Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street – are so disturbing. Barofsky was the Special Inspector General of the Troubled Asset Relief Program (TARP), put in charge to monitor how the hundreds of billions of taxpayer dollars were spent.’
‘According to Barofsky, the Home Affordable Modification Program (HAMP) did not have a goal of keeping struggling families and children in their homes. It’s real goal, according to U.S. Treasury Secretary Tim Geithner, was to “foam the runway” for the banks.’
‘Here’s an excerpt from the book:
“For a good chunk of our allotted meeting time, Elizabeth Warren grilled Geithner about HAMP, barraging him with questions about how the program was going to start helping home owners. In defense of the program, Geithner finally blurted out, ‘We estimate that they can handle ten million foreclosures, over time,’ referring to the banks. ‘This program will help foam the runway for them.’
“A lightbulb went on for me. Elizabeth had been challenging Geithner on how the program was going to help home owners, and he had responded by citing how it would help the banks. Geithner apparently looked at HAMP as an aid to the banks, keeping the full flush of foreclosures from hitting the financial system all at the same time. Though they could handle up to ‘10 million foreclosures’ over time, any more than that, or if the foreclosures were too concentrated, and the losses that the banks might suffer on their first and second mortgages could push them into insolvency, requiring yet another round of TARP bailouts. So HAMP would ‘foam the runway’ by stretching out the foreclosures, giving the banks more time to absorb losses while the other parts of the bailouts juiced bank profits that could then fill the capital holes created by housing losses.”
http://wallstreetonparade.com/2012/08/how-treasury-secretary-geithner-foamed-the-runways-with-childrens-shattered-lives/
Ever notice Warren never said boo about this publically?
Fauxahontus is the controlled opposition. The litmus test: any time a bona fide bill to audit the Fed comes up, phony “reformers” like Warren always rush to block it.
40% the 4.4 trillion the Fed holds is mbs
That’s why banks can hold zombie properties
And the sheeple put up with this. You can’t fix stupid.
Warren is a joke. Talks a good game, but I had to laugh at the “dressing down” she gave the CEO of Wells Fargo. Yah, this from the woman who supports Hillary 200% and she says nothing about the fact that Hillary’s campaign was double and triple dipping into the bank accounts of people who made contributions under $100.00, dinging their accounts. And this was done deliberately to circumvent the fraud warnings that would have been triggered had the contributions been over $100.00.
So Warren calls for the CEO of Wells Fargo to be arrested, but not a peep about Hillary. So much for the great stone face of Warren.
Fauxahontus likes to grandstand for the cameras, but she never uses her position to do anything substantive to crack down on the banksters and crony capitalists or their political enablers like Crooked Hillary and the entire captured Republicrat duopoly.
Warren is a joke. Talks a good game ??
And this from a person who supports a bigoted candidate with a grade-11 level vocabulary…
Warren was formerly a professor of law, and taught at the University of Texas School of Law, the University of Pennsylvania Law School, and most recently at Harvard Law School.
Warren was formerly a professor of law, and taught
Means nothing.
Sorry…It means discipline and accomplishment…
What has she accomplished for us, since she is a public servant now?
Sorry…It means discipline and accomplishment…????????????
Yep, the sort of discipline and accomplishment that characterizes our rotted, non-existent injustice system today. All silken words on top, underneath these people engage in all sorts of deviance and cry bigot, a “look over there” ploy so people won’t catch them beating off to kiddie porn.
What has she accomplished for us ??
First you must define “us”….
What are you expecting Warren to do? She’s one Senator out of a hundred. She can’t pass laws by herself, or throw people in jail by herself. And if she did, you would mock her as “Queen Elizabeth.”
I didn’t mock her and imagining what I might say doesn’t add anything.
“And this from a person who supports a bigoted candidate with a grade-11 level vocabulary…”
And this from a person who doesn’t know how goon got that dog up there.
“And this from a person who doesn’t know how goon got that dog up there.”
Bingo!
Oh yeah, the forehead… and he’s hand-waving.
They could easily liquidate it for $150k or more ??
Why ?? Not only did DC allow them to change the accounting rules but its apparent they are being allowed to enrich themselves by riding the appreciation wave up…Gee’s…They should have been forced to liquidate that asset once the value achieved the loan balance..
They “should have been forced to liquidate” once the loan became non-performing.
Or at least report the home’s current resale value on their quarterly reports. How else are pension investors supposed to value these firm’s shares?
Saw a short sale where the buyer was financing his purchase with the same bank that held the note on the property. It took the bank almost a year to negotiate with itself.
These used to be called REO sales, IIRC.
We’re in Las Vegas, similar situation but this place didn’t sit there. Sold for $195K in fall 2015 within two months.
I’m referring to our last rental; it was offered for sale to us in January 2012 at $150K ($40K over inflated zillow, which means the asking was probably even worse.) I turned it down for the ripoff it was. Now the damned stucco shack is selling for $240-250K and we went on to pay three years more rent and went through hell moving again in July, 2015.
The real laugh is we could have afforded the old place very easily despite the fact that it was not my ideal and, this is the killer, that homes like the one we were in have skyrocketed. The area we’re in now? Much nicer, but we probably can’t afford it. Also, this house has problems.
Now I’m facing a rebellion in the family ranks, though they’re too kind to call me stupid for my decisions. They’re refusing to move again (my family lives on De Nile, no clue about the risk of buying). I also have my own form of denial, in that I never imagined the machinations the govt/FED would employ to keep housing prices up (though I fully understand their disgusting motivations.)
Our lease is up in June, 2017. As is typical for me, I have been worrying since shortly after we signed the lease. Now we have nine months left.
Just bitching.
‘If we don’t address the budget, we know we’re going to have state layoffs,’ she said. ‘If you’re seeing lower state employment, and you’re already seeing private sector layoffs happen, your housing concerns are going to be next. That’s where we’re going to see a softening in the real estate market.’
‘General sentiment is people are waiting for what’s going to happen next, and every day there’s a barrage of information about all the action the state isn’t taking with fiscal issues,’ she said. ‘It’s just unavoidable. At some point that becomes a downer. The psyche impact takes that to another level, I think.’
‘Each of the three largest credit unions posted rises in the rate of delinquent loans. Alaska USA’s delinquent loan rate rose a negligible 0.1 percent, but the delinquent loan rate for Credit Union 1 and Denali Alaskan rose by 54 percent and 77 percent respectively.’
If you haven’t spent any time in Alaska you wouldn’t know how dependent they are on government jobs. If their budget is busted, they are in recession. It’s expensive to live up there anyway, so if there is stress on the permanent fund, private layoffs and public layoffs to come, those $500,000 house loans will be kinda hard to service.
If you haven’t spent any time in Alaska you wouldn’t know how dependent they are on government jobs ??
Wasn’t the part time Governor of that state the same one railing against the government & Lib’s when she ran for VP ?? And the same one that came out early and endorsed trump ?? can you say Hypocrite ??
They don’t have any choice. The feds own or control the vast majority of land:
“1. How many acres of public lands does the BLM-Alaska manage? The BLM-Alaska manages approximately 72 million acres of public lands.
2. Are Alaska lands still being given away?
Yes, BLM-Alaska is still processing applications and conveying land under the 1906 Native Allotment Act program, the Alaska Statehood Act, the 1971 Alaska Native Claims Settlment Act as well as the Alaska Native Veterans Act passed in 1998. More information can be found at the Alaska Land Transfer Program Website.
3. Are there lands in Alaska that are available for homesteading? No, there are no longer federal lands in Alaska available for homesteading, homesites, headquarter sites and/or trade and manufacturing sites. All such federal programs expired in 1986 as a result of the Federal Land Policy and Management Act (FLPMA) of 1976. Under FLPMA, Congress directed the government to manage remaining public lands for long-term retention. Therefore, the BLM has no land disposal program. However, the State of Alaska has a land disposal program that periodically makes land available only to Alaska residents. Visit or contact the Alaska Department of Natural Resources for additional information on the State’s disposal program.
4. When is the next land sale? Visit or contact the Alaska Department of Natural Resources as all such federal programs expired in 1986 as a result of the Federal Land Policy and Management Act (FLPMA) of 1976.
5. How can I find out the status of lands in Alaska? Visit the BLM-Alaska State Office PIC or contact us by phone (907-271-5960) or email (akso_public_room@blm.gov). You may also visit or contact the State of Alaska.
6. What are ANCSA and ANILCA? Enacted in 1971, the Alaska Native Claims Settlement Act (ANCSA) was passed to address the land claims of Native Alaskans. ANCSA created twelve Native-owned regional corporations, granted 962 million dollars in seed money, and authorized the Native corporations to select 44 million acres of federal lands in Alaska.
The Alaska National Interest Lands Conservation Act (ANILCA) was signed into law by President Jimmy Carter in 1980. ANILCA is a land conservation statute that protects over 100 million acres of federal lands in Alaska, doubling the size of the country’s national park and refuge system and tripling the amount of land designated as wilderness. ANILCA expanded the national park system in Alaska by over 43 million acres, creating 10 new national parks and increasing the acreage of three existing units.”
http://www.blm.gov/ak/st/en/res/pub_room/faqs.html
On top of this, when I was there in 2001, something like half the people in the state were in the military/military families.
Doesn’t every Alaska resident get a stipend of some sort in the thousands of dollars through oil sales ??
A couple thousand. It’s drying up. Maybe three, four months heat.
‘Sam McLearen told the board that Centex Homes recently withdrew its 2013 proffer amendment to build 762 single family homes on quarter-acre lots in the planned neighborhood, Clevenger’s Corne. ‘That’s one of the biggest things that has happened in the last couple of weeks,’ he said, describing the grandly imagined development as a ‘dormant project.’
Come on Centex, don’t you know there’s a shortage of houses? You can’t just tippy toe into the market with 50 or 100 shacks?
And yet in So Ca, homebuilders built on land where Rocketdyne had a 1959 nuclear accident, and allegedly the EIR was quite the talk of Simi Valley, Ca during the approval process. Allegedly, people who bought into the PUDs are safe. The contaminated dirt was taken away. OK, I’ll take 2 homes. Can’t wait to see them glow in the dark. Some regions have dense population, and housing stock is getting older (50+ yrs) in EQ country. New has its plus.
Our neighborhood has a listing at $620K, a 2,500 sq ft circa 1960’s redo. The owner has owned it as a rental for decades. I am predicting 120 DOM before he gets real. Should be a $100K+ haircut.
Do realtors have a radiation quit-claim at the closing table in Simi Valley?
I don’t have a subscription to this, but here’s the headline:
Washington Village Set To Transform Andrew Square
Banker & Tradesman-3 hours ago
Reflecting a potential glut of luxury apartments in Boston, more than 400 of the 656 units will be sold as condos.
Debt fueled bubbles are unsustainable, even with central bank “stimulus” raining down like confetti on the banksters.
http://wolfstreet.com/2016/09/23/bis-oecd-warn-on-canadian-housing-bubble-debt-see-no-exit/
the central bank will step in to prevent deflation. The deflation fighters!
The Fed and central banks have a free hand to engage in their Keynesian swindles as long as 95% of the sheeple bend over for their water carriers election after election.
the local stucco shacks are selling for 300k.
I have to image there are 100k in fees and underground before a 2×4 is put up.
There are some high dollar construction workers doing underground right now.
‘there are 100k in fees and underground before a 2×4 is put up’
I was a controller for an underground utility/road building company. It’s usually one guy sitting on a piece of equipment and a couple of flaggers. Did you know there’s a glut of heavy machinery right now? I was reading about a “shortage” of appraisers in Denver this morning. Do we really have no ability to do anything in this country anymore? High dollar construction workers? When I visit subdivisions to shoot video it’s almost all Mexican guys with crappy cars blaring conjunto music.
Along these lines I had to take care of some subterranean termites the other day. The exterminator showed up and explained two alternatives. One was to put a tent around the entire house and fumigate it. $1,000. The other was to poke a few pin holes in the drywall and blow a puff of fungus in that the bugs would rub on each other and die. $30. But I’m sure out there right now are families staying in a hotel while their house sits under an enormous plastic tent.
My sister had to have her house tented awhile back. Its not cheap and u have to leave.
The construction workers on this job are working for a major company and probably in the union. These aren’t 10 / hr workers slapping up drywall. There are putting in all the piping and wiring underground for the homes. Ditches everywhere, roads all torn up. You cant scr@w this kind up work up so the big dogs come out and do it. I imagine 50 / hr @ least.
U add up all the permits, fees and these guys and its at least 100k before building the house.
All the wood walls seem to come premade and they are all numbered. Its like a big puzzle for the framing.
Do you always just pull numbers out of your rear end?
take care of some subterranean termites the other day ??
They treat subterranean termites in the ground Ben…They build tubes that reach up to the wood members but they actually reside in the ground…Dry-wood termites are in the walls and they do use a tent to fumigate them although there are alternatives now days like Orange Oil…
I was a controller for an underground utility/road building company ??
Not sure about where you were working but being the controller you are acutely aware of the cost of liability insurance for underground work…Its off the charts here…The potential hazards, some life threatening are numerous and you don’t even need to make a mistake for it to happen…Old underground infrastructure with limited information on size and location if any at all…Boom…
Here we go again, once again due to the Fed.
http://www.zerohedge.com/news/2016-09-25/home-prices-are-out-hand-again
End the Fed.
http://endthefed.org
Don’t overlook those geopolitical black swans. Nothing enriches the banksters like major wars, which neocon Hillary will be itching to send someone else’s kids to fight.
http://www.businessinsider.com/we-havent-seen-this-happen-since-right-before-world-war-ii-2016-9
Sunday funnies from TBP. Enjoy!
http://www.theburningplatform.com/2016/09/25/sunday-funnies-131/
The Great Divider.
http://www.theburningplatform.com/2016/09/25/the-great-divider/
Only the sickest kind of sociopath, aka Hillary Clinton, would chortle on tape about successfully defending a child rapist she know was guilty.
http://www.dailymail.co.uk/news/article-3729466/Child-rape-victim-comes-forward-time-40-years-call-Hillary-Clinton-liar-defended-rapist-smearing-blocking-evidence-callously-laughing-knew-guilty.html
Washington Mall shooter was a Hillary supporter. Go figure.
http://www.breitbart.com/big-government/2016/09/24/arcan-cetin-burlington-shooter-id-immigrant-turkey/
It is instructive to watch Crooked Hillary’s billionaire donors using their control of the media to shamelessly promote her while suppressing those pesky “trolls” who tell the truth the corporate media can’t and won’t allow. Must.script.The.Narrative!
http://www.zerohedge.com/news/2016-09-25/amazon-tweaks-its-hillary-book-stats-doubles-5-star-reviews-overnight
2017 Chevrolet Silverado 2500HD LTZ 6.0L V8 4WD Crew Cab Short Box
Pickup truck
Model: 2017 Chevrolet Silverado 2500HD
MSRP: $51,375
Horsepower: 360 hp @ 5,400 rpm
Towing capacity: 13,000 lbs
Engine: 6.0 L V8
Curb weight: 6,533 lbs
Dimensions: 240-258″ L x 81″ W x 78″ H
Torque: 380 lb-ft @ 4,200 rpm
Here is your 50k truck. any buyers?
There must be some.
REAL BUYERS
MOST PEOPLE JUST START MAKN PAYMENTS AND R UPSIDE DOWN SOON THEREAFTER
repo man busy these days
Or lessees
Make it a Duramax dually diesel 4×4 with all the trimmings and it’s $75,000 MSRP.
there u go genius
September 23, 2016, 01:37 pm
Breitbart poll shows Clinton extending lead over Trump
By Mark Hensch
Donald Trump is trailing Hillary Clinton by 4 points, according to a poll done by an organization whose chairman is running Trump’s campaign.
Clinton (D) has 44 percent support among likely voters nationally to Trump’s 40 percent, according to a Breitbart News/Gravis Marketing survey released Friday.
Stephen Bannon took a leave of absence as chairman of Breitbart News to work as the Trump campaign’s chief executive last month.
The Breitbart poll shows Clinton extending her lead. She led Trump by 3 points in a version of the poll earlier this month, and by 1 point in an August edition.
Breitbart News/Gravis Marketing conducted its poll of 1,560 likely voters on Sept. 20. It has a 2.5 percentage point margin of error.
http://thehill.com/blogs/ballot-box/presidential-races/297484-breitbart-poll-clintons-lead-on-trump-grows
Bigger gov coming
And then
Greece
VZ
EU
Japan if your lucky
Bigger gov coming
And anyone who thinks Trump is NOT for a heavy handed Nationalist central government is on some type of meth.
its been hard trying to find anything i like about hillarie…….maybe if she said i know all the dirty kinky sex secrets of our world leaders that might give me hope………..anyone could have beaten trump, but he hit on a lot of valid points and the repubs just caved in like little wussies…..i have stated this over and over ohbahma’s legacy will be the death of political correctness….and so far i am very happy the way its’ going
Dogs climbing mountains (I’m posting this from 14,000 feet):
http://www.picpaste.com/20160925_121244-AUMPah0z.jpg
Akita?
I’m looking into scuba gear for dogs.
https://www.reddit.com/r/LateStageCapitalism/comments/541rr8/i_came_to_san_francisco_to_change_my_life_i_found/
how long can this aapl cult and social media carry them?
Merkel and her CDU Quislings are running scared after her slavish adherence to her globalist masters’ open borders policies resulted in the “far right” (people who do not want to see their sovereign countries turned into neoliberal looting plantations and multicultural cesspools) getting a surge of support from newly-awakened Germans getting a generous dose of globalism.
http://www.zerohedge.com/news/2016-09-25/merkel-seemingly-caves-political-pressure-migrant-policy-germany-has-done-enough
Soon the Comrades of Proven Worth at the DNC will have their Permanent Democrat Supermajority of dependency voters. Forward!
http://www.breitbart.com/texas/2016/09/23/central-american-illegal-immigrants-continue-flood-u-s-border-record-rate/
Seems like an outbreak of fundamental transformation is hitting US cites. Soros must be writing a lot of checks.
https://www.rt.com/usa/360543-stabbings-boston-emerson-police/
Raymond/Palmetto, you are so blinded by your hatred of Clinton and Democrats that you have lost all objectivity. That means every trade or investment you make is biased. I feel sorry for you. Hate is a powerful emotion that can ruin you and your investments. If you lose money in the stock market or in real estate, you will “blame” the Dems or Soros or the Clintons. While you are wallowing in your hate, the wise ones are busy trying to make money. To do that, you need to be unbiased. I don’t think you know the meaning of the word. As for me, I don’t spend one second of my time thinking “why” real estate is rolling over. I focus on “what” is happening, and that is why this blog is so valuable. (Have fun with your conspiracy theories, I bet you never made a dime from your theories.)
Crooked Hillary she LIIIIIIIIIIIIEEEEEEESSSSSSSSSSSSSSSSS!
Understanding why is useful. If you understand cause and effect, you can observe cause and step out of the way of effect.
“Raymond/Palmetto, you are so blinded by your hatred of Clinton and Democrats that you have lost all objectivity.”
That is one of the funniest bits I’ve ever read on this blog!
Deep down, Palmy, you know you are deplorable….
It is a backhanded compliment that a turd like you would have a handle like “Not Raymond.” I don’t hate Clinton and the Democrats, I despise them. To hate them I would have to have at least some grudging respect for them, which I don’t - I loathe them for being so vile and corrupt. As far as investing, I have no illusions about this rigged, broken, manipulated market, and invest accordingly. As far as how you choose to invest, I really don’t give a rat’s ass. As far as the HBB, I’ve been on it for a lot longer than you have been, and I suspect Ben and I have about a 95% overlap of views, though I’m more vocal in my opposition to the crony capitalist status quo. You clearly lack the intelligence to make the proper connection between cause and effect, so please take your inane drivel over to HuffPo before I have to lower the boom on your bitch ass.
That’s where I fail. I think about what the Fed “should” be doing, how stocks or real estate “should” be valued, from historical metrics. Rather than accepting what is happening, and capitalizing on it.
On second thought, you could be right when talking about real estate. But with stocks, I don’t spend anytime thinking of the “why.” Thanks for helping me change my mind regarding real estate.
http://imgur.com/gallery/A43mw
You’re wrong, Raymond. I was here pre-2008 but I rarely wrote a comment. Ben was one of the few who showed housing was doomed.
You don’t get it, do you? I am unbiased. I only care about the truth. Try it one day, you might like it.
You’re wrong, Raymond. I was here pre-2008 but I rarely wrote a comment. Ben was one of the few who showed me back then housing was doomed.
You don’t get it, do you? I only care about the truth which is why I don’t read biased news like Briebart, Huff Post, or Fox News. Try the truth one day, you might like it.
You mean he should try reading the “unbiased” news? Where is that news exactly? Perhaps you mean news that suits your opinion (not truth).