The Market Is Just Saturated
A report from the Dallas Morning News in Texas. “Prospects for the 2017 U.S. commercial property still market look good, to hear the majority of real estate folks tell it. Certainly Dallas is in the biggest building boom it’s seen in almost three decades. But a lot of the industry’s executives are looking over their shoulders, fretting about everything from rising interest rates to a flood of capital coming into the U.S. property sector. ‘There is maybe a little more caution in the market,’ Andrew Warren, head of research for Pricewaterhouse Coopers, said Wednesday at a Dallas meeting of the Urban Land Institute, the country’s largest commercial real estate organization.”
“Some of the worries for the development business Warren red-flagged included rising construction costs, the potential for higher finance costs and affordability concerns for the housing markets in many U.S. cities, including Dallas. The increase in players in the business and the flood of money coming into the markets are also causing some heartburn for commercial builders and investors.”
“Commercial property transaction totals, which were the highest since the Great Recession in 2015, are expected to decline slightly this year and more in 2017 and 2018, according to a ULI forecast. ‘Transactions are down this year so far — still at a very strong level but not as great as we had last year,’ said Dr. Ken Rosen of the University of California at Berkley. ‘The consensus is the rate of increase in prices is going to slow dramatically.’”
The Miami Herald in Florida. “First came Porsche. Then Armani, Fendi and Missoni. Now Aston Martin is the latest luxury brand to gun for a piece of South Florida’s condo market. The British car maker announced Wednesday that it will partner with wealthy Argentine developers on a 66-story condo tower called the Aston Martin Residences at the mouth of the Miami River in downtown Miami. The licensing deal marks the auto company’s first venture into real estate.”
“In today’s struggling luxury market, Miami developers are more likely to cancel condo projects than unveil them. A strong dollar and weak global economy have starved the region of foreign buyers. But Argentina’s Coto family, which paid a record $125 million two years ago for the vacant waterfront land next to the Epic Hotel, says it has enough horsepower to get the 390-unit project going.”
“The big question: Will Miami’s luxury market have come back to life by the time the Cotos start selling units? ‘The market is in great turmoil right now,’ said Jack McCabe, a South Florida real estate analyst. ‘Many countries that have been feeder markets for South Florida are in recession, especially in Latin America. The developers are starting a sales campaign at a very difficult time for global economies.’”
“In mainland Miami, average sales prices for luxury condos plummeted 29 percent year-over-year in the third quarter of 2016, according to a report from brokerage Douglas Elliman. The number of luxury condo sales fell by a quarter. And units languished on the market for an average of 129 days, compared to 52 days last year. Banks and other lenders have taken note.”
“‘There’s been a slowdown in construction financing, not just in Miami, but in other major markets,’ said Jonathan Miller, a housing analyst who authored the report. ‘This has been a four- or five-year development boom that’s occurred across the United States. I think some lenders are realizing that and taking a breath.’”
The Wall Street Journal on New York. “A three-bedroom unit on the 62nd floor of One57, a newly built condominium towering over New York City’s Central Park, has sold for $23.5 million, or 25% under its original sale price of $31.7 million.”
“According to Noble Black of Douglas Elliman Real Estate, who had the listing with colleague Emily Sertic, the apartment was first listed for roughly $41 million with another firm in 2014, almost immediately after the seller closed on the purchase from builder Extell Development. It has since seen several price reductions, and was most recently asking $25 million. The seller’s identity is shielded by the entity Escape From New York LLC.”
“The buyer is Chinese billionaire Liu Yiqian, according to Jeremy Hu of Compass, who represented him in the transaction. An investor who lives primarily in Shanghai, Mr. Liu is known for his large art purchases. The sellers never officially moved in to the apartment, deciding to put it on the market instead, Mr. Black said. They had planned to move in, he said, but their circumstances changed during the lengthy period between contract signing and closing, and the apartment was too small.”
“Mr. Liu feels he got ‘a good price’” on the condo, Mr. Hu added, noting that the high-end real estate market has faltered in recent months. At 1,004-feet high, One57 made headlines when a penthouse closed for $100.5 million in late 2014, setting a new record for New York City apartment sales. But with the high-end Manhattan market now much softer, a number of the 94 original units are still for sale, and Extell in March reduced its projected sellout value of the tower to $2.56 billion, a markdown of $162 million from its 2013 projections.”
The Union Tribune in California. “Prices grew modestly in San Diego County’s housing market in August, capping a slow summer, said the S&P CoreLogic Case-Shiller Indices. Adjusted for seasonal variation, the regional index of home prices was 5.8 percent higher in August compared to a year ago. However, compared to July, the market appreciated by .21 percent, or an annual rate of just 2.5 percent, continuing a pattern that began in June. Most of the year’s price increases came early in the year, beginning with an annual rate of growth of 12.9 percent in January. The housing markets of Los Angeles and Orange counties followed a similar path.”
“Chris Thornberg, economist and founding partner of Beacon Economics, said the Southern California market was being dragged down by high-end homes. ‘That market is just saturated. There’s too much coming online and not enough well-heeled people to grab all of them,’ he said. ‘Everything suggest these units are sitting on the market longer and longer.’”
‘The Southern California real estate market took a breather in September, with sales dipping slightly as the market entered a typically slower season amid price gains that have made homes less affordable. Real estate firm CoreLogic said Wednesday that sales in the six-county region fell nearly 1% last month compared with a year earlier.’
‘The region’s median price also fell 1% to $460,000 from August but is still up 5.7% from a year earlier — and close to the nine-year high of $465,000 recorded in June.’
‘Many economists predict price increases to be smaller in the future as affordability worsens. Though the median price is $5,000 off from the June peak, it has still risen on a year-over-year basis for 4½ years. Historically low interest rates have kept mortgages more affordable than during the bubble last decade, but wage growth has lagged behind housing price gains driven by a lack of supply.’
Hansen is calling it.
http://mhanson.com/10-14-hanson-higher-end-housing-collapse-party-assume-position/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+MarkHansonAdvisers+%28Mark+Hanson+Advisors%29
‘One region, which “seemed” to be performing better than NYC, Miami, and the Bay Area was SoCal. To clarify, the SoCal data haven’t been ‘strong’ per se. Just not as clearly weak as other core, higher-end markets, some of which are already in full seizure mode.’
‘Well, last night’s second episode of this season’s “Million Dollar Listing LA” blew me away. This show is released about three or four months in the can, yet the tenor has changed dramatically from last season. For example, the stars of the show were constantly talking about ‘flood of supply’ and ‘a surge of remodeled houses’ etc hitting the market.’
‘In fact, in last night’s episode, likely filmed 2 to 3 months back, a fully remodeled house originally listed at $12.995mm sold for $9.6mm. And that price included a few hundred thousand of change work. So, net-net, that’s a 28% haircut. The Realtor’s said a year ago this house would have sold for full-price within days. They are chalking it up to “picky buyers”. That’s because the stars of the show are too young to remember how Bubble 1.0 ended.’
The Southern California median reported in the LA Times link is the lowest this year.
I think we will be looking for a high rise condo in San Diego in 2018. Living in Little Italy could be fun and only a few minutes from the airport. Professor Bear, will prices have bottomed by then?
what re Josh , Frederick, and the other metro sexuals to do ?
Million dollar muff job
That’s because the stars of the show are too young to remember how Bubble 1.0 ended.
So the only way to “know” something is to be old enough to remember it?
Hansen is calling it;
Looks like he calls it every week, every month and every year…Every opinion piece he writes is about collapse…Sounds like HA…Maybe it is HA…
Actually, he doesn’t “call it” regularly as you proclaim. What he regularly has been doing for the past few years amounts to offering skepticism. This is the first time since I can recall where he’s actually claiming the peak has passed.
‘Landlords on Manhattan’s Fifth Avenue are sitting on a record amount of open space as retailers balk at committing to expensive new leases in one of the world’s most prestigious shopping districts.’
‘The availability rate on the famed strip, home to Saks Fifth Avenue and Tiffany & Co.’s flagship store, jumped to 15.9 percent in the third quarter, up from about 10 percent a year earlier, according to Cushman & Wakefield Inc. The rate has climbed steadily this year, surpassing the prior peak of 11.3 percent, set in the fourth quarter of 2014.’
‘The rise of empty storefronts isn’t limited to Fifth Avenue. It’s part of a Manhattan-wide space glut as retailers — buffeted by e-commerce, tepid demand for luxury goods and a strong dollar that’s eroded tourist spending — push back against rents that have soared to records. Leasing costs have increased in tandem with property values in the past five years, outpacing gains in merchandise sales and making it impossible for retailers to run profitable stores at many locations, according to Richard Hodos, a vice chairman at brokerage CBRE Group Inc.’
“Property trades are being based on achieving ever-higher rents, and nobody ever really looks at what retailers can afford to pay,” Hodos said. “In some cases, rents need to come down 30 percent or more for rents to be at levels where retailers are able to make sense of them again.”
‘Retailers that signed leases at high prices in the past several years and are seeking a tenant to sublease their space are also included, according to Steve Soutendijk, an executive director at Cushman. “Tenants that signed at the absolute top of the market are looking to mitigate their exposure,” he said.’
‘Property owners with space to fill are starting to lower their expectations, according to Cushman’s Soutendijk. Asking rents in some of Manhattan’s prime shopping districts, including Soho and Times Square, have declined over the course of 2016, Cushman data show.’
“I think a lot of landlords are ready to make deals,” Soutendijk said. “Everybody understands there is too much space in the market. We are not in a state of equilibrium.”
‘Buyers of real estate during the recent boom years may not have much room to maneuver. To justify paying record prices for buildings — and the debt that financed the acquisitions — owners are under pressure to get the highest rents possible, according to Patrick Smith, a vice chairman of the retail brokerage at Jones Lang LaSalle Inc. “Typically, a building that has been capitalized over the past three years is very rent-sensitive,” he said.’
‘Landlords who hold out for the right tenant can be left hanging on to empty space for years.’
Remember when we had real investigative journalists who ferreted out corruption in the public interest? Me neither.
http://www.zerohedge.com/news/2016-10-26/project-veritas-4-creamer-admits-ive-known-president-he-was-community-organizer-chic
everybody knows
https://www.youtube.com/watch?v=XDphyrGiaJE
Leonard Cohen
The most depressing song ever written.
No, that would be “Hurt” by Johnny Cash (cover of Trent Reznor song).
https://www.youtube.com/watch?v=4ahHWROn8M0
? 2 weeks ago Dallas and n tx was booming
real estate
Greater Dallas/Fort Worth is building like nothing ever seen there. I’d say it’s probably even more than Denver, which is a giant construction site.
Have you been to Seattle lately?
More cranes than New York and San Francisco combined. But there’s no construction going on.
Greater Dallas/Fort Worth is building like nothing ever seen there ??
I have a nephew that just bought a new house in the Dallas area..I asked him if he was planning on moving and he said no…He was buying for investment…I asked, why there ?? He said because there is a “massive” amount of investment capital coming into the area…Infrastructure etc…
‘Dallas is in the biggest building boom it’s seen in almost three decades. But a lot of the industry’s executives are looking over their shoulders, fretting about everything from rising interest rates to a flood of capital coming into the U.S. property sector.’
‘Some of the worries for the development business Warren red-flagged included rising construction costs, the potential for higher finance costs and affordability concerns for the housing markets in many U.S. cities, including Dallas. The increase in players in the business and the flood of money coming into the markets are also causing some heartburn for commercial builders and investors.’
‘at a Dallas meeting of the Urban Land Institute, the country’s largest commercial real estate organization’
And everything you guys have concluded I have been warning about on this blog for a year and a half. The “flood of money” has driven this, the artificially low interest rates, not what tenants need or can afford. There is a commercial RE bust coming and it will be epic because you waited too long to put on the brakes. Even Thornberg has a little brown stain it seems.
This made me think; it would be a good idea if we had someone in place, or a group, that had the authority and power to rein in all this printed money when things got out of hand. You know, take the punch-bowl away from the party when the markets are getting too drunk. I’ll have to write that up or something.
Who will watch the watchmen?
Would that someone also get paid $250,000 after his watch just for standing up at a dinner party?
LOL. Members of the group could have multiple degrees from the most august educational institutions in the land. They would meet regularly, and publish informative minutes, forecasts, and thought papers.
Trump is the revolution against the Establishment. Self-described Anarcho-Capitalists and other Fakers, please line up at Comrade Hillary’s command and prepare to lick the boots of your corporate statist masters.
http://www.zerohedge.com/news/2016-10-26/love-him-or-hate-him-trump-revolution-against-establishment
Trump already won. There will be Trumps in every election in both parties.
The Democrats will always be the party of corruption. The GOP base roundly repudiated their own corrupt Establishment “leadership” and its Wall Street errand boys like Bush, Rubio, and Cruz. The Democrat base, on the other hand, are as debauched and feckless as their Soros-owned “leadership.” There will be no populists or nationalists emerging from that den of vipers.
Eight years ago I predicted here that Obama would be this generation’s Hoover and that a real hero would come after. I could not have been more wrong. The ugliness has been postponed, but it is still out there for us, more corpulent than before. A real hero cannot operate for recovery in this environment. Someone must officiate over the crash first.
Interview with James O’Keefe.
https://www.youtube.com/watch?v=1XucIYobezQ
Thanks for the link. O’Keefe is something else.
“One person with courage is a majority”
Much of the Democratic base is as estranged from their party leadership as the Republican base is from theirs. And for similar reasons too. Give it a few more years and Clintonism will be as soundly repudiated as Jeb Bush and Lindsay Graham were in the primaries.
In today’s wikileaks dump, we learn that the Dems love Lindsay. Really.
Trump is the fascist of choice among the trash.
Real estate only goes up.
Trump is the fascist ??
He is the steward of the office first occupied by George Washington…Part of our inheritance is our democratic system…Thats what the office of the Presidency is all about…And when its undermined by a candidate for the Presidency, we have to understand how cancerous that is…Facism did not rise in the 30’s because it was strong, its because democracy was weak…
Clinton will pay you $1500 bucks to yell that at a Trump rally and start a fight. I watched another video about it last night, and right after that they had a Clinton paid illegal alien talking about how he was rounding up other illegals to bus around and vote. Then another guy says they have been doing that for 50 years and won’t stop. Now what was that high talk about “our inheritance is our democratic system”?
Now what was that high talk about “our inheritance is our democratic system” ??
When you are a Republican nominee that will likely receive 40 million votes and you state that the election is fraudulent a month before the election is held then, yes, you undermine the very essence of our democracy…
Let’s take a poll of the Sanders supporters and ask them if what the DNC did to their candidate was on the up and up.
what the DNC did to their candidate was on the up and up ??
I am not claiming that it was on the up and up…No Presidential candidate has ever made a claim that the peaceful transfer of power of the Presidency was illegitimate…Gore could have made that claim, but did not…In fact, he was very gracious in his concession speech…It appears, that Trump will only be Gracious “if he wins”…His words…
‘he was very gracious in his concession speech’
Maybe, but it was 7 weeks later:
‘If Trump decides to not accept the election results and challenge the vote, then he should consult with Al Gore, who conducted a scorched-earth, take-no-prisoner campaign in Florida to contest the 2000 election.’
http://www.americanthinker.com/blog/2016/10/al_gore_can_teach_trump_how_to_not_accept_election_results.html
What happened to this democracy thing? Clinton got caught red handed planning to bus around illegals to vote! Inciting violence at opposition rallies. Using the DNC to smear and smother Sanders. I’d bet somebody is going to jail over some of this. And they just might sing like a jailbird to get a lesser sentence.
“Trump is…the steward of the office first occupied by George Washington”
OK, that must be Commander of the Army of the American Revolution.
It is ironic to have the loyalists to the current monarchy accuse the rebel of “suppressing opposition”.
Do you have any immigrant ancestors who made their future generations wealthy by operating brothels? (I don’t.)
I love how the left has suddenly become the moral authority pearl-clutching Puritans about sex now that it suits them.
+100
On one hand you have money being paid for sex, with nobody surprised at the nature of the transaction, and at the time a legal activity. A few generations back, mind you.
On the other hand, with WJC, you have with the known:
1. Actions that would be deemed sexual harassment in the place of employment (easy grounds for being fired);
2. Perjury (illegal);
And the alleged:
3. Multiple affairs (infidelity);
4. Rape (illegal);
5. Hiring of prostitutes (illegal).
Oh, but the brothel a few generations back is the worst of it?
I had immigrant ancestors who operated a liquor distributor. They may have done fine for themselves, but that money never survived the 150+ years to my family.
Am I ashamed that they made their money selling a vice? Not one bit.
I’m proud that they had the courage to get on a boat, leave their homes and come to the US in an effort to better their lives.
My family has had nothing but trouble with immigrants ever since we came to this country.
lol
Since when am I responsible for my ancestors?
Comment by The Selfish Hoarder
Wait, didn’t I ban you? Let me try again.
He should really push on the term limits, keep up the debate.
Give em the chop
“So, Mom and Pop got into bonds thinking, “I don’t trust stocks after the last crash, so I’ll load up on bonds cuz they’re safer”, right? Only now they see they’ve been led into a minefield where they might not get out in one piece. Some bond funds have already suspended redemptions, which means investors can’t withdraw their money. I’m dead serious. It’s like the Hotel California, “You can check out, but you can’t leave.” Not with your money at least. So you can kiss that retirement “Goodbye” and start filling out that job app for Taco Time now before the spot is taken by some other struggling graybeard.”
http://www.counterpunch.org/2016/01/25/stock-buybacks-and-the-wall-street-sharktank-a-whole-lotta-stealin-goin-on/
It would have been nice had the author actually named the bond funds that have stopped redeeming. Were they junk bond funds? Blue chips? Munis? Treasuries? Foreign bonds?
““Chris Thornberg, economist and founding partner of Beacon Economics, said the Southern California market was being dragged down by high-end homes.”
Gee, I don’t recall ole Chris T complaining when the high-end was buoying up the market to a false mean high. As usual, the bankers, economists are always late to the action.
This is a red letter day.
I talked to some guy two days ago who thinks the interest rates on house loans will be dropped to 1%. I tell him fine, but that will only jack up the house prices far more out of reach of millenials. Think five times the proper valuation.
house loans will be dropped to 1% ??
We all better hope not because it will reflect the state of our economy and the world….
“reflect the state of our economy”
Now that right there is funny!
From Bloomberg
America Is Building More Three-Car Garages Than One-Bedroom Apartments
“You’ll never be homeless in America if you’re a car.”
That’s a great line, but considering the cost of today’s vehicles they really should be in a garage to slow its rate of depreciation. It’s crazy to go into debt for a car and a garage… insane really.
Indeed. Many small, four cylinder cars are priced in the mid twenties. Yes, you can get some for less, but you’ll have to get a “stripper” with a manual gearbox.
The Donald speaks to a small audience (not a rally) of Black American civic and religious leaders in Charlotte, NC today:
https://www.c-span.org/video/?417505-1/donald-trump-proposes-new-deal-urban-america
Why would you watch this on CNN or Fox with spin and interpretation when you can watch it on C-SPAN, without either, and for free?
Open borders = extermination of jobs for Black Americans.
Obamacare Architect Gruber Demands “Larger Mandate Penalty”
Bureaucrat who said “stupidity” of Americans helped get law passed doubles down
Paul Joseph Watson - October 26, 2016
Obamacare architect Jonathan Gruber – the bureaucrat who once bragged that the “stupidity” of the American people was crucial for passing the health care law in the first place – told CNN that the “fix” for Obamacare was to impose a “larger mandate penalty”.
CNN’s CAROL COSTELLO: “So let’s talk about how exactly you can fix Obamacare. I just need you to be specific because I think people really want answers. So Hillary Clinton says she can fix Obamacare. So what would one fix that would drive premiums down?”
ONATHAN GRUBER: “Look, once again, there’s no sense it has to be fixed. The law is working as designed. However, it could work better. And I think, probably the most important things experts would agree on is we need a larger mandate penalty“…
http://www.infowars.com/obamacare-architect-gruber-demands-larger-mandate-penalty/
is we need a larger mandate penalty“ ??
Exactly…..Much larger….With pre-existing condition now irrelevant, many don’t buy the insurance until they need it…Need shoulder surgery, buy insurance, go get the surgery and after full recovery opt-out of insurance….
Get ready to lose the young, healthy vote. The penalty would need to be a multiple of what it is to cause people to change their behavior.
People want their free sh*t, and for someone else to pay. Once they are asked to pay for it themselves, they’ll revolt.
Offer a public option.
$23.5 million and $100.5 million for apartments. Jesus H Christmas what has the world come to? I’m all for people “getting theirs” in the business world and great for people who made gobs of money, but its just ridiculous. Bill Gates creating the most popular OS of all time and earning the wealth that goes with it makes sense. Henry Ford, same thing. But some of these new age cronies making their money in shady ways internationally or locally, its just getting crazy.
The sheeple have been their blessing to this crony capitalism and economic malinvestment by electing water carriers of the Wall Street-Federal Reserve Looting Syndicate. We must give the sheeple the shafting they voted for.
“It has since seen several price reductions, and was most recently asking $25 million. The seller’s identity is shielded by the entity Escape From New York LLC.”
“The buyer is Chinese billionaire Liu Yiqian, according to Jeremy Hu of Compass, who represented him in the transaction. An investor who lives primarily in Shanghai, Mr. Liu is known for his large art purchases. The sellers never officially moved in to the apartment, deciding to put it on the market instead, Mr. Black said. They had planned to move in, he said, but their circumstances changed during the lengthy period between contract signing and closing, and the apartment was too small.”
_______________________________/
“Circumstances changed” for the seller … yeah right. This was like a casino luring a whale.
When the selling entity is called “Escape from New York LLC,” I’d say the buyer needs to drive a hard bargain, although maybe Mr. Liu embodies “Escape from mainland China while I still can” and was equally desperate.
Even after the haircut that’s a lot of money for an air box.
“Equities are still a bargain.” CNBC Smuck
Given that the stock market always goes up, how can this advice fail?
Trump: the ultimate F*** You to the corrupt, sleazy Republicrat status quo.
http://www.salon.com/2016/10/26/michael-moore-people-will-vote-for-donald-trump-as-a-giant-fk-you-and-hell-win/
“The woman is a disaster.” Camile Paglia on Hillary Clinton.
http://www.spectator.co.uk/2016/10/the-woman-is-a-disaster-camille-paglia-on-hillary-clinton/
“The social media giant posted third-quarter adjusted earnings of 13 cents per share on revenue of $616 million.
The company said the restructuring is focused on reorganizing the company’s sales, partnerships and marketing efforts, in order to help Twitter achieve GAAP profitability in 2017. It posted a third-quarter GAAP net loss of $103 million, or 15 cents per share. ” CNBC
So wtf is it? Headline says they beat earings on an adjusted basis.
Then it says with GAAP net loss of 103 million.
So the b@stards actually lost money in the third quarter. This is the kind of bs sloppy reporting we have in this phony market.
GAAP= generally accepted accounting practices
So wtf is it? Headline says they beat earings on an adjusted basis.
My guess is the difference is stock-based compensation. Under GAAP, it’s an expense, but it doesn’t actually cost the company any money. So most companies report both GAAP and non-GAAP, and the financial press these days seems to primarily report non-GAAP numbers.
ZIRP has been one of the Fed’s most lucrative swindles against the 99%, bilking them out of $500 a year in interest income and forcing yield-seeking retail invester muppets to play in Wall Street’s rigged casino where the Fed’s accomplices can fleece them at will. Next up: NIRP, which will take the rip-offs to a whole new level.
http://markets.businessinsider.com/news/stocks/SRI-KUMAR-Heres-why-the-Fed-will-cut-rates-in-2017-1001483796
Do you favor the black-only new deal?
as long as its mandatory to read write and speak English, there is a major black functional illiteracy crisis, why would any business move to Detroit when the majority cant read, and Austin TX has rates that rival southern CT?
ohbama has been a dismal failure for the black community…
Huh?
Context?
His usual trump tantrum.
As reported by real journalists:
http://mobile.nytimes.com/2016/10/28/us/politics/donald-trump-voters.html
Is Dr. Feelgood always right behind her?
https://www.youtube.com/watch?v=tB0fjQ2z6ig
Learn to love Yellen.
Buy crypto currency.
Choose one.
http://www.coindesk.com/price/
And it’s gone!
https://www.youtube.com/watch?v=_nVk25ZvTkU
Aha, choices for lovers of money.
Neither honest.
Sorry, Sweet William, but that’s not a binary choice, contrary to what your Aspie thought processes tell you. You can refuse to buy a scam crypto currency while still despising Yellen the Felon. Here’s a resource that might help you with your rather skewed perceptions of reality.
http://johnrobison.com
Exclusive: Rocket Fuel terminates Peninsula headquarters lease …
San Francisco Business Times (blog)-17 hours ago
Rocket Fuel was the 126th-largest public company in the Bay Area based on 2015 revenue of $461.6 million, according to Business Times research.
I guess ads are getting harder to sell.
Maybe they should rename their firm to something more apt. “One Trick Pony” comes to mind.
‘Rocket Fuel was the 126th-largest public company in the Bay Area based on 2015 revenue of $461.6 million, according to Business Times research.’
Cheaper than a Big Mac:
https://finance.yahoo.com/quote/FUEL?p=FUEL
Things aren’t looking very good for Twitter either.
313 million users and they can’t generate a profit.
If they can’t find somebody to catch their falling knife, look out below!
Methinks that firms that make stuff that people will actually purchase (as in pay money) might become fashionable again.
New vacancy data from the Census:
http://www.census.gov/housing/hvs/files/currenthvspress.pdf
Not much in the way of change year on year except in the West.
We used to say in Miami, “Look at the downtown skyline”, more than a little of that was built upon illicit profits. Ever wonder how much real estate, residential and commercial, is bought with washed money pilfered by politicos, despots, criminal organizations? The number of transplanted South and Central American crooks living high in Florida has to be quite high. Literally and figuratively.