October 17, 2016

Unsustainable Prices Prompt A Steep Decline

A report from Newjersey.com. “Gabe Pasquale’s pitch was four words long. ‘Look at that view!’ he said. Pasquale is a senior vice president for East Coast sales with the California-based real estate developer Landsea. He was giving a tour of the sales office and busy construction site for the company’s 184-unit condominium complex in Weehawken known as Avora, a rhetorical amalgam intended to convey the project’s luxurious location along River Road, the main drag along the Weehawken stretch of Hudson County’s ever-more exclusive Gold Coast. ‘Ora is gold, and avenue, so, Avora!’ Pasquale explained.”

“Avora opened its sales office three weeks ago. With square footage ranging from just over 600 to 2,700, Pasquale said prices range from $800,000-plus for a one-bedroom unit, to $4 million for each of the four penthouse duplexes on the building’s 10th and 11th floors. As of last week, he said, close to 40 units had been sold. After breaking ground in early spring, the building is still little more than concrete pilings with slab floors poured for the first and second stories. But Mayor Richard Turner was just as impressed at how fast units were selling even before the building’s exterior had taken shape. ‘That’s an amazing statement by itself,’ Turner said.”

The Los Angeles Times in California. “Could ultra-luxury home demand possibly be slowing down? We’re not reporting on one house priced at more than $100 million this week. To answer our own question: No. Hollywood stars and entertainment moguls are still very active in the real estate market. But as the often slower holiday season approaches, we are seeing some tried-and-true ‘get it sold’ strategies, such as price chops, and some more serious efforts at selling, including putting heretofore ‘whisper’ offerings into the Multiple Listing Service.”

The Tampa Bay Times in Florida. “During the boom years of the early 2000s, the dream of home ownership lured hundreds of buyers to a new community called Kings Lake. They could get mortgages with little or nothing down. No worry — prices were quickly heading up, doubling in a couple of years. Until the market crashed. On one short stretch of Kings Lake Drive, five out of six houses went back to the banks, including the place Michael Sloan bought at the peak.”

“‘My plan was, I was going to turn over the house in the first year and if the market goes the way it was supposed to go, I’d make a couple of dollars,’ he says. ‘But the bottom fell out.’”

“Now, a decade after the crash, Kings Lake remains a cautionary tale of Florida’s boom-bust economy. Prices are rising again, though they aren’t back to pre-2006 levels. Most of the houses are occupied, although dozens are now owned by giant investment firms and filled by renters. Crime is down, but security patrols still cruise the streets to keep away burglars and drug dealers.”

“And even as Kings Lake is still recovering, hundreds of new houses are going up in south Hillsborough County, some directly across Big Bend Road in the fastest growing new-home community in all of Tampa Bay. Some of the houses are being bought with little money down — one of the factors that contributed to the last housing crash.”

“Michael Sloan rented an apartment in Ruskin and declared bankruptcy. Although now 79 and living on Social Security, he has thought about buying again: ‘I can get a VA mortgage tomorrow, but I’m not sold on the way the economy is going now.’ He says he would never return to Kings Lake.”

The Wyoming Business Report. “When Landis Benson, president of the Wyoming Association of Realtors was asked if he thought there a Wyoming real estate bubble — when market prices rise rapidly due to high demand (as they did in the state during the energy boom in the early part of the decade) until they reach unsustainable levels, prompting a steep decline — Benson said that while prices have declined ‘a bit’ in the areas hardest hit by the energy bust, they have otherwise remained fairly steady.”

“But all that could change if an anticipated surge in foreclosures hits harder than expected. In general, many analysts say there is anywhere from a six- to 24-month gap between when an economic downturn occurs and when foreclosures start to go up as workers are unable to find new jobs — or settle for lesser-paying positions — and their savings and unemployment benefits run out. A wave of energy layoffs, most notably in the coalfields of the Powder River Basin, hit the state this spring — around six months ago.”

“The concern is that a wave of foreclosures will force the banks to reduce the prices on the homes they take over to the point where it pulls the entire market down, leaving many homeowners with houses worth far less than what they paid for them. ‘We are still going to have some downward pressure in areas, because we are expecting a wave of foreclosures in the hardest hit areas and that will certainly have an impact on local values,’ Benson said.”

“Earlier this year, a report by Arch Mortgage Insurance, a California-based firm specializing in mortgage credit default protection, said the national housing market was strong nationally, but was slumping in big energy-producing states like Wyoming where ‘total employment continues to weaken, even as home prices continue to rise.’ ‘The jobs are leaving, and if an area gets depopulated, they can’t take the houses with them and that’s dangerous for the housing market,’ said Ralph DeFranco, director of risk analytics at Arch. DeFranco said Wyoming is facing some of the biggest risks of falling home prices.”

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Comment by Ben Jones
2016-10-17 09:03:23

The Tampa article is a carnival of FB’s.

‘hundreds of new houses are going up…Some of the houses are being bought with little money down — one of the factors that contributed to the last housing crash’

I’ve showed this in videos and seen it everywhere I go. Zero down new houses. Then I’ll go into the subdivisions and find foreclosures. One recession and pow.

‘now 79 and living on Social Security, he has thought about buying again: ‘I can get a VA mortgage tomorrow’

This is true. He’s 79, living on SS and the VA will give him a loan in a heartbeat. But there’s no subprime.

Comment by Lemming with an innertube
2016-10-17 09:09:58

but, “Buy now or be priced out forever”.

Comment by snake charmer
2016-10-17 11:40:19

It was a great article. It was accompanied by a map of the subdivision, with foreclosed homes shaded red. There were well over one hundred. And now Blackstone owns almost 10% of the houses. Palmetto, did you read this in the paper? I rarely get down to that part of the county, but it’s your turf.

For those not familiar with Gibsonton, decades ago it used to be a retirement area for carnies and circus performers.


“Gibtown became the retirement or home-base for a variety of show folks where next door neighbors were Priscilla the Monkey Girl, the Alligator Man, the Lobster family, or Dotty the Fat Lady. In other places these strange people would have met with some degree of social rejection, but in Gibtown they were treated as average people bonded by the nomadic lifestyle of the traveling show.

In 1949, the famous Al Tomaini, an eight and a half-foot tall giant with a 22-inch shoe size retired from the road and settled in Gibsonton. The Giant and his two-foot tall wife, Jeanie, billed as “The Half-Girl,” started a trailer park and fishing camp that has become legendary among Tampa Bay fishermen as the “Giant’s Camp.”

In its glory days, Gibtown had the only Post Office in the country with a special low counter for midgets. The local fruit stand was operated by the famed Hilton Siamese twins and down at the Showman’s Lounge the late Melvin Burkhart livened up the bar crowd by hammering six inch spikes up his nose.”

Comment by Cracker Bob
2016-10-17 12:51:26

I learned all about it in the Randy Wayne White novel “Tampa Burn”.

Comment by oxide
2016-10-17 14:06:16

Ahh, the good ol’ days, when people paid cash money to get a glimpse of Dotty the Fat Lady. Now you just need to go to WalMart.

Comment by Raymond K Hessel
2016-10-17 16:22:22

Now we have creepy clowns and the DNC freakshow. Easy to confuse the two….

Comment by Ben Jones
2016-10-17 09:05:22

‘As of last week, he said, close to 40 units had been sold. After breaking ground in early spring, the building is still little more than concrete pilings with slab floors poured for the first and second stories’

This sounds familiar. What year was that?

Comment by Ben Jones
2016-10-17 09:09:23

‘Hollywood stars and entertainment moguls are still very active in the real estate market. But as the often slower holiday season approaches, we are seeing some tried-and-true ‘get it sold’ strategies, such as price chops’

‘Home sales in Los Angeles County have declined for a fourth month in a row, and the number of pending sales has dropped more than 37 percent over August numbers. That’s according to a new report from realtor John Graff, who also notes that pending sales are down a staggering 48.9 percent since September of last year. They’re now down to the lowest level since 2012.’

‘Though sales generally tend to decline in fall, the prolonged drop that’s currently taking place has the realtor scratching his head. “Over 10 years of Los Angeles County real estate data shows no similar drop in pending home sales in terms of the breadth and depth,” Graff says.’

‘Not surprisingly, closed sales have dropped as well; between August and September they fell off 32.7 percent. Since more homes are languishing on the market, the city’s housing stock has increased markedly. It’s now up to five months supply, which is still a bit below the six-month marker that’s normally considered healthy, but is also nearly a two month increase over the month before.’

‘What’s behind this precipitous decline in sales? Last month, Graff reckoned it might be an effect of subpar houses flooding the market as homeowners try to take advantage of a red hot seller’s market.’

Comment by Ben Jones
2016-10-17 09:56:29

‘pending sales are down a staggering 48.9 percent since September of last year’

Nothing to see here.

Comment by Hargert
2016-10-17 14:11:49

Is there a website you use to track these numbers? I would like to keep an eye on my current area but have had little luck finding good info.

Comment by SW
2016-10-17 09:20:51

Check out reggie Middleton’s analysis on NYC real estate. In this video he shows a luxury apartment building that has been built in a very undesirable part of town.


Comment by Ben Jones
2016-10-17 09:45:26

Thanks, that’s very interesting. Near the end he mentions seeing defaults and bank losses being hidden by the lack of mark to market.

Comment by Jesus Navas is my Lord Savior
2016-10-17 09:47:56

losses being hidden by the lack of mark to market

Low vacancy per Jingle/Rental. LOL

Comment by Ben Jones
2016-10-17 10:08:45

What was the main purpose of mark to market? So that banks held the correct amount of capital. Why now, when we are repeated told how flush banks are, has mark to market not been reinstated? I just got this email, probably a NYC developer:

‘I am currently working with…a mogul developer who has seen a rise in his new building’s sales (which has yet to be built)- all due to buyers wanting to buy units as soon as possible to lock in interest rates.

…. would be more than happy to discuss:

-The value of buying real estate with locked in interest rates
-The risk this trend entails to both developers and buyers
-Is this a trend that’s going to get more popular?
-The long-term savings involved with buying a pricier unit with a lower locked-in rate (compared to a less expensive unit, at a higher rate later on when a building is developed)’

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Comment by Rental Watch
2016-10-17 13:17:55

The suspension of mark-to-market was and is only for assets in inactive markets/distressed situations.

In other words, mark-to-market is not suspended for all a bank’s assets, only a certain subset that meets specific criteria (inactive market, distressed situations).

The value of a typical home owned by a bank as REO needs to be marked to market (in pretty much every market, there are multiple “normal” sales that could be used as comps…an active market).

The value of a CDO-squared at a time where no one wants to buy it, so the last trade was 2 weeks ago at 10 cents on the dollar from a soon-to-be bankrupt seller DOES allow for suspension of mark-to-market, for that asset.

Comment by Rental Watch
2016-10-17 13:28:58


I was thinking about linking to the FASB website, but this summarizes the situation:

“Problems can occur when the market-based measurement does not accurately represent the underlying asset’s true value. This can occur when a company is forced to calculate the selling price of these assets or liabilities during unfavorable or volatile times, such as a financial crisis. For example, if the liquidity is low or investors are fearful, the current selling price of a bank’s assets could be much less than the value under normal liquidity conditions. The result would be a lowered shareholders’ equity. This case occurred during the financial crisis of 2008/09 where many securities held on banks’ balance sheets could not be valued efficiently as the markets had disappeared from them. During April 2009, however, the Financial Accounting Standards Board (FASB) voted on and approved new guidelines that would allow for the valuation to be based on a price that would be received in an orderly market rather than a forced liquidation, starting during the first quarter of 2009.”

“Sometimes, there is a weak market for assets which trade relatively infrequently - often during an economic crisis. During these periods, there are few, if any buyers for such products. This complicates the marking process. In the absence of market information, an entity is allowed to use its own assumptions, but the objective is still the same: what would be the current value of a sale to a willing buyer. In developing its own assumptions, the entity can not ignore any available market data, such as interest rates, default rates, prepayment speeds, etc.”

“Financial institutions are still required by the rules to mark transactions to market prices but more so in a steady market and less so when the market is inactive.”

If there is an orderly market, the asset must be marked to market. If the market is not functioning, then there is more leeway for asset valuations.

Comment by Incorrect
2016-10-17 13:56:23


Worse yet, the fed is holding onto a few trillion worth of these rotting toxic mortgages.

Comment by taxpayers
2016-10-17 11:22:59


Comment by jerzdebil
2016-10-17 10:19:27

Wow, project veritas drops their first video of the trilogy, a 16 minute video of private investigations with a bunch of democrat operatives on camera talking about Dark money, staged/intentional rioting, hiring ‘mentally ill’ people to do things for them, keeping a ‘double blind’ between this organization and the DNC, etc.


Massive fraud within the DNC. Wonder what else he’s got? Gotta be getting a little toasty in demoncrat land right about now.

Comment by Ben Jones
2016-10-17 10:42:07

Wow indeed.

Comment by jerzdebil
2016-10-17 11:18:21

Newest dump on FBI corruption might be even more jaw-dropping. State Department bribing FBI, Hillarys emails stored on a server overseas, Hilldog bringing a cell phone into a SCIF and the hits just keep on coming.

Fish rots from the head.

Comment by palmetto
2016-10-17 11:55:24

Way, way worse than Watergate. Way worse.

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Comment by Cracker Bob
2016-10-17 12:57:33

That’s exactly right! Only one person running for president that is worse than this gal. Good choice ultra-right wing nuts.

Comment by palmetto
2016-10-17 17:33:39

Drink Cucka-Cola!

Comment by Professor Bear
2016-10-17 21:39:33

Palmetto for Chief Justice of the Supreme Court

Comment by palmetto
2016-10-17 11:01:23

Methinks Hillary is having a Really. Bad. Day., between this video, the Assange dust-up, the FBI quid pro quo and the new Wikileaks dump (despite Assange’s troubles). Oh, and the revelation that the actual Podesta Files hackers were UFO buffs, not Russians, and more interested in what Podesta knew about ETs than they were in the other stuff. (see Wayne Madsen). They gave it all to Wikileaks for sorting.

Anyhoo, if it weren’t for the fact that a bunch of dirty cops are running the FBI and DOJ, she’d be arrested and charged by now, along with her henchmen and henchwomen.

Dirty Cops.

Comment by Raymond K Hessel
2016-10-17 15:47:27

Hillary can take comfort from the fact that the dull-eyed slugs comprising the majority of the electorate are as amoral and feckless as she herself is.

Comment by Jesus Navas is my Lord Savior
2016-10-17 11:05:26

Doesn’t surprise me a bit.

Comment by Apartment 401
2016-10-17 18:29:08

Forgot where I heard this first, maybe from a caller on C-SPAN’s Washington Journal:

“Real journalists” love to talk about The Donald’s percentage of support from uneducated white Americans.

But they never never never talk about Obama and Hillary and the Democrat Party’s percentage of support from uneducated black or Latino Americans. Why is that?

Because it doesn’t script the narrative.

Democrat Party are racists racists racists, and real journalists be sitting up on the plantation porch sipping mint julips with the white plantation owners and slave whipping overseers, laughing their f*ing @sses off at all of you NPR listening Huff Post link clicking whitey for swallowing the narrative hook, line, and sinker.


Comment by snake charmer
2016-10-17 11:30:28

“He was giving a tour of the sales office and busy construction site for the company’s 184-unit condominium complex in Weehawken known as Avora, a rhetorical amalgam intended to convey the project’s luxurious location along River Road, the main drag along the Weehawken stretch of Hudson County’s ever-more exclusive Gold Coast. ‘Ora is gold, and avenue, so, Avora!’ Pasquale explained.”

Um, no. “Oro” is gold, in both Spanish and Italian. “Ora” in Spanish is the third-person conjugation of the verb “orar,” which means “to pray,” which is what purchasers in this project should be doing.

Comment by Blue Skye
2016-10-17 12:10:32

Very funny.

Comment by Carl Morris
2016-10-17 11:41:41

When it comes to Wyoming keep in mind that they are far enough behind the cycle that they never crashed in 08-09. They would have but the bank rescue kicked in before it happened. Then energy kept things afloat. So they are STILL at bubble prices from 10 years ago even before you take into account the extra energy bubble that came later in a few locations.

Comment by taxpayers
2016-10-17 11:44:32

they only want sumfin fo nuffin

the gov will steal from your neighbor and “give you”
food stamps

Comment by Ben Jones
Comment by Bubblebot
2016-10-17 19:16:02

393.44-10.70 (-2.65%)

52wk Range 384.77 - 725.17

P/E is still 56.81. It’s freakin burritos people.

Comment by Raymond K Hessel
2016-10-17 15:40:01

More highly leveraged FBs in the low end of the housing bubble than even during the Bubble 1.0 years due to “shockingly loose” lending standards. Yet I remain oddly unshocked by it all. Heckova job, Yellen.


Comment by Raymond K Hessel
2016-10-17 15:45:55

Funny how cozy and incestuous the relationship was between the DNC and their media adjuncts as long as they both thought the unseemly details of their collusion would never see the light of day. Certainly the captured MSM would’ve consigned this story to the memory hole, had it been up to them.


Comment by butters
2016-10-17 16:55:02

Well at least he knows he’s a hack.

Panda bear and others will never admit to that. LOL

Comment by Rental Watch
2016-10-17 17:08:46

If anyone believes this kind of crap is new, I’ve got a bridge to sell them.

How would have prior elections looked if it wasn’t for the Dem/MSM connection?

Comment by Raymond K Hessel
2016-10-17 15:49:50

More evidence, as if more were needed, that the MSM’s “real journalists” are in the bag for Crooked Hillary and the DNC.


Comment by Professor Bear
2016-10-17 16:37:40

Does Dear Leader plan to burn the house down if he loses?

Comment by butters
2016-10-17 16:56:05

House is already burned. Only you don’t know it.

Comment by Michael Viking
2016-10-17 17:01:11

Dear Leader

Well, well. I guess you must have an empty skull!

Comment by Professor Bear
2016-10-16 19:33:22

Name calling is standard operating procedure for people with empty skulls.

Comment by Professor Bear
2016-10-17 17:06:49

Don’t confuse name calling with description.

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Comment by Ben Jones
2016-10-17 16:51:39

I see many are catching on to what I saw 3 weeks ago when I went on a trip. The TV and radio media are doing a 24/7 full assault on Trump. It’s only intensified. This is the globalist concentration of corporate media we’ve all known about and watched for decades. Now for the first time globalism is on the table and they are freaking out. IMO, just ignore their BS because that’s all it is. I read today Assange got his internet cut when the Goldman Sachs speeches were released. Very telling.

Comment by butters
2016-10-17 16:57:18

Conspiracy theory becomes conspiracy fact once again.

Comment by Ben Jones
2016-10-17 17:20:10

I have eyes and ears. I can tell when hardly a minute goes by that the media is on the attack. And not on both candidates, only one. Relentlessly. It was to be expected. The globalists have a lot to lose. They are powerful and this is their gambit. But it’s an open attack on our very system. If the other candidate is so much better, let her win fair and square. If I can see it, ordinary people can too. All in all, it’s the most interesting and revealing election I’ve ever seen.

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Comment by palmetto
2016-10-17 17:40:39

“If the other candidate is so much better, let her win fair and square.”

I was just thinking that very thing today, also about the open attack on the system. As Trump said this evening (over 40,000 viewers on line for the Wisconsin rally), if Hillary wins, we’ve lost our independence.

Interestingly, the online viewership for his rallies are increasing. I believe he is the winner, and the only thing that can stop him is election fraud. 1.8 million dead voters registered. Giuliani quipped that dead voters always vote Democrat.

Comment by Raymond K Hessel
2016-10-17 17:44:50

The pivotal question is how many people can see right through the lies and propaganda the MSM and its DNC handlers expect them to swallow. And how many people left have enough sense of moral outrage in the face of blatant corruption and crony capitalism to refuse to go along with the status quo. My guess is that the vast majority of the population have become as debased and amoral as our political elites. Hillary’s election would confirm my hypothesis.

Comment by phony scandals
2016-10-17 17:48:41

“This is the globalist concentration of corporate media we’ve all known about and watched for decades. Now for the first time globalism is on the table and they are freaking out.”

F Chuck Todd and the rest of the corporate media’s Sunday Morning Real Journalists had a look of disbelief about them after being called out on that this past weekend.

Comment by Ben Jones
2016-10-17 17:51:33

Think about this: months ago we had people in the GOP tell us they pick the candidates. The DNC is part of the Clinton machine, ask Sanders supporters if you don’t believe me. Our entire political system has turned sideways on us. Maybe it’s been that way all along, but no one ever said the party picks the candidate before this election, not that I heard.

As far as outrage, they can’t take our health. And mental health is health too. It’ll go one way or another and it isn’t even worth getting ones blood pressure up about.

Comment by Apartment 401
2016-10-17 18:49:47

Do not give these people your money.

Just don’t do it. I pay $40 a month for internets and $35 for phone and nothing else. I haven’t watched a single political ad this election. I am beyond their reach.

Billions spent and you can’t touch me with a TeeVee ad. LMFAO

Comment by phony scandals
2016-10-17 19:38:03

“I am beyond their reach.”


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Comment by snake charmer
2016-10-17 19:59:05

Similarly, while the mainstream media mocks Trump for alleging that the election is rigged by domestic interests, it runs with the “Putin is trying to interfere with the election” meme, which is equally farcical. Our elite is embarrassing us.

Comment by Raymond K Hessel
2016-10-17 15:52:44

Like all good hoes, Hillary and Huma want to make their Mac Daddy George Soros happy.


Comment by Raymond K Hessel
2016-10-17 15:55:27

Our permanent Democrat supermajority is not going to build itself. We must import millions more lifetime dependency voters. Forward!


Comment by Raymond K Hessel
2016-10-17 16:31:59

Sociopaths can’t help but let the mask when around non-member human beings.


Comment by palmetto
2016-10-17 17:31:14

Dirty cops.


“DiGenova told WMAL radio’s Drive at Five last week, “People are starting to talk. They’re calling their former friends outside the bureau asking for help. We were asked to day to provide legal representation to people inside the bureau and agreed to do so and to former agents who want to come forward and talk. Comey thought this was going to go away.”

He explained, “It’s not. People inside the bureau are furious. They are embarrassed. They feel like they are being led by a hack but more than that that they think he’s a crook. They think he’s fundamentally dishonest. They have no confidence in him. The bureau inside right now is a mess.”

He added, “The most important thing of all is that the agents have decided that they are going to talk.”

Dirty cops.

Comment by Raymond K Hessel
2016-10-17 17:40:05

Not a single one of these supposedly outraged FBI agents has the integrity or courage to go public with their denunciations of Comey’s whitewash. Not one. RIP, rule of law.

Comment by palmetto
2016-10-17 17:55:07

No, you read that wrong. They ARE coming forward and DiGenova will be providing legal representation. The agents have decided they are going to talk.

Comment by Raymond K Hessel
2016-10-17 18:02:41

Sure they will. I’ll believe it when I see it.

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Comment by butters
2016-10-17 18:30:59

Be kind to them..they got mortgage & kids’ college to pay.

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Comment by Ben Jones
2016-10-17 18:46:52

“You Have Been Served” Jason Chaffetz Shocks FBI Agent During Hillary Clinton Email Hearing


Comment by palmetto
2016-10-17 19:50:19

Wasn’t that just a heart-warming moment? Didn’t it make ya wanna put your hand over your heart and sing a few bars of God Bless America?

Yah, looked great, sounded great, unfortunately Chaffetz and Gowdy have been a yuuuge disappointment. I was reading somewhere about how they’ve put on what looks like a good show, but actually haven’t used either one of two remedies that could actually put some teeth in their gums.

Also Chaffetz was part of the Paul Ryan putsch that “unfriended” Trump after the Billy Bush tape came out. I called his office and one other rep’s office and let them know that even though I was not one of their constituents, their actions just cost their buddies here in my neck of the woods a couple of down ballot votes.

And then I called the campaigns of their buddies and mentioned their names why they lost those down ballot votes. I want them, or at least their campaign managers, to think about Ryan and Chaffetz should they find themselves wandering K street begging for a lobbying job. At least one of them probably will be, the other might actually win.

Comment by Raymond K Hessel
2016-10-17 17:48:23

“In a time of universal deceit, telling the truth is a revolutionary act.” — George Orwell


Comment by TheCentralScrutinizer
2016-10-17 20:19:08

… but screeching like a deranged tree monkey is still screeching like a deranged tree monkey.

Comment by Ben Jones
2016-10-17 20:25:42

There’s a whole lot of posters looking to get banned and I’m in the mood. Note there’s a few less already. You’re already on the first stage. Check it out the next time you comment. Screech about that little monkey

Comment by Ben Jones
2016-10-17 20:42:16

Opps, wrong answer, see how it goes screeching tree monkey, bye bye!

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Comment by palmetto
2016-10-18 05:20:49

Now THAT was funny!

I dunno why these guys target people here on the HBB, when they have so many “approved” sites like Twitter and Faceplant, which reach much wider audiences.

Comment by Blue Skye
2016-10-18 13:58:44


Comment by azdude
2016-10-17 17:53:30

u guys should buy stocks cause yellen has dropped the hint she will back stop the market by buying equities. Volatility has got to be crushed to make u feel like things r peachy.

Easy peasy!

Comment by Professor Bear
2016-10-17 18:04:16

“Prices are rising again, though they aren’t back to pre-2006 levels.”

Sadly, it is quite likely the next real estate downturn will begin before prices regain pre-2006 levels.

Comment by azdude
2016-10-17 18:22:05

prices must go up! just accept the fact prices r suppose to rise over time according to academics. Its a natural phenomenon.

Comment by Raymond K Hessel
2016-10-17 18:33:26

It is hardly surprising that the Comrades of Proven Worth at the NEA, in their zeal to turn out future Democrat dependency voters and collectivists, have failed to educate the precious snowflakes on the horrors of communism. But soon Comrade Hillary will teach them all they need to know. Forward!


Comment by Apartment 401
2016-10-17 19:04:26

Two words: Aleksandr Solzhenitsyn

Millennials can suck it. There used to be these things with paper and words called “books” in case you forgot.

You could write one on napkins, matchbooks, the wall of your prison cell, or in memory to be transcribed later after release.

But “books” don’t get likes and notifications on your smartphone. Sometimes people don’t even “like” them until decades or centuries after the author has died.

Ben Jones I give up, these people are not worth saving, or worth trying to save. I’ve got a handful of living blood relatives I can count on less than two hands and as far as the rest of these millennial turds are concerned f* the lot of you, f* your future, because you’re not worth it. Thanks for all the positivity here but it just ain’t resonating…

Comment by Raymond K Hessel
2016-10-17 18:51:25

Pity someone didn’t throw a bucket of water on Hilary during her epic meltdown following the September 7th Matt Lauer interview.


Comment by palmetto
2016-10-17 19:28:38

Somewhere, Paula Deen is smiling.

Seriously, though, I just saw that a little while ago. So that’s what all that excoriation of Matt Lauer was all about. WOWEEEE! I’m wondering if, in fact, there might not be some actual video of the backstage meltdown that someone might have taken on the sly. That’d be some bombshell, I’ll tell you.

Comment by Raymond K Hessel
2016-10-17 19:41:08

Whoever took it would be Arkancided in short order, with the FBI and DoJ deciding no crime had been committed.

Comment by Raymond K Hessel
2016-10-17 18:55:15

But…but…surely our ever-vigilant regulators and enforcers would never allow such blatant market manipulation by a TBTF bank! I am shocked, shocked! to discover such illegal activity going on at this establishment!


Comment by Ben Jones
2016-10-17 18:57:05

Welcome to Harlem NYC, Poster Child of Central Bank Excess, Causing the Next Real Estate Crash - Reggie Middleton


Comment by palmetto
2016-10-17 20:11:12

I gotta admit, Harlem looks a lot better in that video than it did when I wuz a pup.

When I used to take the train into the Big Apple from the burbs, the last stop before Grand Central Station in Manhattan was a Harlem stop and the conductor would shout “125th STREET!, 125th STREET!”

Comment by ZH
2016-10-17 18:57:42

“There’s No More Cash On The Sidelines”


Nor was there ever ‘cash on the sidelines.’

Comment by Prime_Is_Contained
2016-10-17 22:12:25

Nor was there ever ‘cash on the sidelines.’

My cash is on the sidelines—and has been for longer than I care to admit. Would still like to be more diversified at some point… but am quite hesitant to buy into an obviously-rigged casino.

Comment by drumminj
2016-10-18 07:02:38

I was the same way, and then ~2 years ago started ‘easing’ into Harry Browne’s Permanent Portfolio. I can’t say I’m 100% comfortable, but I feel a bit better than being all cash.

Buying in over two years has helped some of that, as has the fact the PP is cash-heavy itself.

Comment by ZH
2016-10-18 11:58:56

It’s unlikely 1 out of 10,000 with a few hundred thousand is going to change anything.

Comment by Bill, just south of Irvine
2016-10-17 20:12:50

Is it ever acceptable to initiate violence or the threat of violence against the innocent? (No evasion, just a yes or a no.)

Comment by sestamibi
2016-10-17 21:09:44

I used to take Avora for depression, but the FDA banned it.

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