Natural Market Corrections To Inflated Prices
A report from CNBC. “America’s housing market is heating up again, fortifying the finances of current homeowners and frustrating potential first-time buyers. After hitting bottom in 2012, home prices took off dramatically before leveling off a bit in mid-2014. In the last two months, though, they turned higher again. The amount of equity homeowners now have — the value outside their mortgage debt — has doubled in the last five years, according to CoreLogic. Housing affordability is now below average in half of the nation’s top 20 metropolitan markets, according to John Burns Real Estate Consulting. These include Denver, Houston, Austin, Texas, and Nashville, Tennessee.”
“‘This means that they are at high risk of a sharp price correction whenever the next recession hits,’ the Burns researchers said.”
The Real Deal on Florida. “The Trump Group is delaying construction and sales on the second planned condo tower of its $1.5 billion Estates at Acqualina in Sunny Isles Beach, amid the market slowdown, The Real Deal has learned. Rather than wait to reach 80 percent pre-sales of both towers — the requirement for financing — the developers will focus on sales on the South Tower and build the project in two phases, developer Jules Trump, told TRD. ‘In this market, selling at these prices, [$3.8 million to $9 million and up to $36 million for penthouses], it’s not such an easy [sale], so we want to be conservative and make sure we can deliver,’ Trump said.”
“Estates at Acqualina is the latest South Florida project to be placed on hold, canceled or delayed amid a slowdown in the condo market this cycle, as the strong U.S. dollar and foreign economic turmoil continue to dampen sales. Among the developments, Alan Faena has placed his Versailles planned condo project on hold and is considering building another hotel instead; H3 Hollywood, a planned condo tower, has put construction on hold while its developer seeks financing; Boulevard 57, a planned mixed-use project on Biscayne Boulevard in Miami, called off condo sales this summer, and the entire site is now being marketed for sale. And Auberge Miami, a planned condo tower just north of downtown Miami is delaying construction until at least late 2017.”
The Marin Independent Journal in California. “Toni Shroyer, a Marin real estate agent who also handles rentals, just found one of her clients a home in San Marin. The asking rent was $4,250, but it was reduced to $3,950 — one of many indications that rents are on the way down in Marin. ‘Absolutely, rents are softening,’” said Melissa Prandi, proprietor of San Rafael-based Prandi Property Management, a 33-year-old property management firm that handles 450 units in Marin. ‘Things aren’t moving. The phones aren’t ringing the way they used to.’”
“She added, ‘Very commonly, we follow the San Francisco market, and our rents tend to go down six to 10 months after San Francisco rents fall.’ ‘We saw San Francisco rents going down in late spring, so we expected it (Marin rent drops),’ Prandi said.”
The Denver Business Journal in Colorado. “Two reports released this week seem to indicate that rents in Denver appear to be falling. The first, put out by apartment app Zumper, indicated prices for one-bedroom apartment rentals in Denver have fallen 3.1 percent over the past year, and Denver is no longer on the list of the nation’s 20-most expensive rental markets. The second report, put out by Yardi Matrix, indicates that Denver rents are dropping ’swiftly.’”
From Park Cities People in Texas. “The North Texas housing market is showing signs of cooling down. The latest North Texas Real Estate Information Systems statistics show that the median September home price in the Park Cities was down 17 percent compared to June. Despite a double-digit drop, the $1.2 million median price is still 5 percent higher than it was in September 2015.”
“The median home price in Preston Hollow climbed 19 percent to $952,000 over the third quarter. However, houses in Preston Hollow are taking longer to sell, as is the case in the Park Cities. According to some local real estate experts, these trends are not necessarily a bad thing. ‘This is a much more healthy and balanced market,’ said Virginia Cook realtor Lori Sparks. ‘It’s still an awesome time for sellers, but we couldn’t have continued on that pace forever. It would have been impossible.’”
“‘With more things coming on the market, there’s not that same urgency and frenzy,’ Sparks said. ‘Buyers are now taking their time a little bit.’”
“Will Seale, a partner with Trusler-Seale at Briggs Freeman Sotheby’s International Realty, compares the long-term market pattern to a heart EKG. Since the end of the great recession in 2010, area homes sales have followed a fairly regular pattern for the past six years. He sees the current price drop and inventory increase as natural market corrections to inflated prices. The key to doing business in the current environment is conducting proper research to determine a correct price point. ‘I still have not seen houses sell for less than last year,’ Seale said.”
‘houses in Preston Hollow are taking longer to sell, as is the case in the Park Cities’
I have been following this paper for a while and they’ve been reporting lower prices for a bit more than 6 months, IIRC. Preston Hollow is where that ass hat Mark Cuban lives, so these are pricey. Park Cities refers to University Park and Highland Park, I believe.
‘He sees the current price drop and inventory increase as natural market corrections to inflated prices. ‘I still have not seen houses sell for less than last year,’ Seale said.’
You keep hanging your hat on that YOY number, Will.
Here’s an article from the Dallas Morning Snooze:
‘Real estate agents sold 91,248 homes statewide in the most recent quarter, the Austin-based trade association said. That’s a 0.2 percent increase from third-quarter 2016. Statewide home sales prices were 7 percent higher than in third-quarter 2015, with a median price of $214,000′
“We just haven’t been building homes fast enough, and the rising land and development costs have made it difficult to build new homes at lower price points.”
http://www.dallasnews.com/business/homes/2016/11/01/texas-home-prices-sales-rose-third-quarter
There are a stupid number of apartments being built in central Dallas.
These were just completed (http://www.domainatmidtownpark.com/mapsanddirections.aspx) along with 2 -3 other complexes within the last year or so. There are about three other complexes being built currently within a mile or two. As well as 3 story row homes nearby.
The one thing being built which will actually get some use right away is a new Costco, first one in the city of Dallas.
The Dallas area is building more apartments than any other metro in the US. 50k.
And it isn’t just central Dallas, they are building apartments everywhere.
Everyone wants to live in the paradise known as Austin. I hear they have good BBQ there.
Austin is nowhere near DFW
Really?
200 miles
A bit shorter than it is from Reno to SF
“200 miles”
That’s a trip to the grocery store in Iowa.
‘The second report, put out by Yardi Matrix, indicates that Denver rents are dropping ’swiftly.’
This 3% number doesn’t include incentives like free months rent. When that’s counted the drop is well over 10%.
‘one of many indications that rents are on the way down in Marin. ‘Absolutely, rents are softening,’” said Melissa Prandi…that handles 450 units in Marin. ‘Things aren’t moving. The phones aren’t ringing the way they used to.’
And to think that multi-unit buyers in Marin were bidding like crazy earlier this year, then it all stopped. There was even a report that some over paid and were losing money. Now I guess they are losing more-er.
The decrease in Denver rents also does not take into account that the mix of Denver apartments has changed with the addition of all these new upscale apartment buildings. Average rents should be a lot higher given the additional new upscale buildings.
I have heard that a new luxury apartment building in Denver which started lease up in January 2016 is still only 40% occupied. I would assume other new buildings also have quite a high vacancy rate.
The rents cant fall fast enough in the greater Boston metro area. I think I’ll move back South before any price movements occur. Unfortunately I’ll be stuck one more winter….
Side note : I love how the UHS and ‘agents’ use terms like “softening”, because it sounds much better than decline, dropping, falling, reductions….
Did you see the reports about the Copley tower cancellation in Boston?
I just read a Nevada article where the UHS were arguing about flattening versus leveling.
No I didn’t, but I just found the Boston Herald article on it. Straight from the developer’s mouth, “Costs are too high and there’s too much supply,” said David Contis, president of Simon Malls. “We’re going to wait for the market to moderate, and then we’ll go back and re-evaluate.”
Ha. Too much supply you say? No way. The economy is going to the moon, bring on moar lux apartments for $1.5 million! MOAR!!
Doesn’t surprise me, as anyone with common sense would look around Boston and see the surge in lux apts and condos in th elast 3 yrs. Seaport district with its 4 or 5 major buildings coming online with a couple more planned, then the huge towers coming online by the TD Garden (Celtics/Bruins) w/ new shops and restaurants coming soon….
The head of the revelopment committee in Boston went on to say how the city has seen 50,000 new residents over the last 5 yrs, and most of them are affluent, so they can afford the fancy apartments and condos. Theres a market for it he said…LOLOLOLOLOL. I want to know what these affluent peers of mine are doing, selling coke? Slinging meth? Because most I know(even in the financial sector) are doing OK by middle class means, but certainly not $800k+ luxury apt or condo, or $3,000/mo rent “affluent”.
Did I pick the wrong profession? Does this housing committee expert know something I don’t? Should I get a PhD in fraud?
“softening”
How about sagging, drooping, wilting, or better yet, equitile dysfunction LOLZ
Flacid housing markets. Central banking Viagra babayyyy, MOAR credit!!
Came across this last night, comedian Bill Burr ranting about the housing bubble in LA - starts at around 1:50. Warning though, he likes to swear a lot, so crank it up!
https://www.youtube.com/watch?v=XM9BhsXTZYE
Blurr is right. Banks own the USA. And those LA condo buyers are not Americans. We sold out to the fake Yuan.
We need to do the same thing as the Chinese. Use our funny money to buy up cheap places in Asian island nations! I’d rather die of tropical fever than a nuclear warhead strike…
Let buy Cuba, then Baja, then Brazil….
We sold out to the fake Yuan.
Your fake Dollars coming home to roost.
How do you like them apples?
1 Bdr Condo Bargain Gem in ‘Boston’
Just saw this article about a $200k in ‘Boston’, and you betta believe it!
Lol, except its in Dorchester which is just south of Boston and according to official crime data, has way above average assault, murders, and rapes compared to the state and USa as a whole. You always hear stories of gunshots and gunshot victims in Dorchestaaahhh. Yeah no thanks, pass on this $200,000 1bdr “bargain”
It’s a dead honkey zone
So us there any ascending market in any city ,in any country ?
Another one from Florida. This was almost painful to read:
“[M]illennials, particularly in the Tampa Bay area, are house-hunting at a time when the number of homes for sale has rarely been so limited. High demand coupled with low supply means millennials can find themselves in fierce competition with other buyers for nice, affordable houses in popular areas.
Chris and Shelby Groner, both 24, know that well.
…
[T]hey were so smitten with a place in Carrollwood Village that they wrote the seller a letter and even attached a photo of themselves with their rescue dogs, Sassy and Harley.
“When we lost that,” Shelby says, “we were really depressed.”
Finally, they found it — a 1,400-square-foot house between Northdale and Carrollwood listed at $189,900. To make sure they got it, they paid $10,000 over the asking price. But they stayed within their budget, barely, and they love the house.
Their advice for millennials just starting their house hunts?
“Don’t bite off more than you can chew,” Shelby says. “It’s easy to look at the price and think, ‘it’s easy to swing that, it’s only a little bit more.’ But if something happens, if the dishwasher or washer or dryer goes out, you need to have a buffer.”
That’s smart advice, though millennial buyers don’t always follow it.
“One thing we’ve found is that they are willing to pay the very top of what they can afford if they can get the things they want — solid surface countertops, nicer cabinets, no carpet,” says Deaton, the listing agent on the house the Groners bought. “What they don’t want is to come into a home and start pulling even a couple of thousand dollars out of their pocket (for renovations) because usually they don’t even have that.”
http://www.tampabay.com/news/business/realestate/millennials-in-tampa-bay-are-starting-to-buy-houses-and-thats-going-to/2300218
Buying as much house as they can be shoehorned into and they don’t have a pot to piss in. Here’s where someone can chime in and tell us how sound these loans are.
I couldn’t quote as much of the story as I wanted to. There’s a second account in there of a millennial couple paying above list price.
as I mentioned earlier, accordding to ATTOM data solutions 30% of the new purchase loans are either FHA or Va. Most FHA/VA loans have down payments under 5%. Put an other way, most of that 30% are underwater instantly should anything go south.
Note that the 30 % does not include any high LTV fannie/Freddie loans. I have not seen any data on their % of HLTV borrowers.
I love the competition/hot market narrative. It needs to read “scorch the earth” generation Baby Boomers pull out HELOC money out of thin air at record pace and drive up prices everywhere. Sick of this high demand, millennials need to suck it up, blah blah, BULL.
Scorch the Earth gen has never been a more appropriate name. And and their foreign money counterparts fleeing capital controls.
How could they expect us “millennials” to have any cash leftover in this insane market? 10-20% down on a median home price of $300k, while earning less than Americans even a decade ago? Pffft. No wonder people cant walk into the door and immediately rip out carpets, put new windows in, new kitchen backsplash. What do they think we are trading up from our first houses bought for under $100k??
From a financial standpoint, your generation is starting out behind the eight ball. If the pool table had multiple eight balls, you’d be behind all of them. No wonder identity politics is being pushed so hard.
I think the worst part is, I’ve done everything right, according to the ‘expert’ plans for success. I chose a great career field (engineer) and graduated with no debt, got a job right away. It’s just tough saving (in addition to 401k) with rents going up and up, hell even as a bachelor who grocery shops for 1, the food bill can easily be $100/week and that’s eating modest.
Definitely not whoa me, the sky is falling, I live great and do travel a couple of times per yr, so of course I could eat ramen or boiled chicken, stay in everyday, and drive a 1990 Civic
Even a person as fortunate as you has to make lots of choices if they want to save.
“$100/week”
If I gave you $2500, do you think you could reduce that grocery bill by $1?
I don’t really follow with the “reduce by $1″, if I reduced my weekly grocery bill by $1, I’d save $52 a year.
It’s a funny way of looking at things that gets me thinking as I make retirement preps. I think about what something in my budget will cost over my life expectancy, rather than the weekly expense. Like $60/mo over the next 25 years is $18,000. If I eliminate that $60 expense now I’ll need $18,000 less in retirement funding. That’s the storage bin I am renting. It’s going to get emptied.
So, how many more weeks will you be buying groceries until age 85 or something like that? Just food for thought if you’re not saving. Things add up in the long run.
I like that, Blue; thanks for sharing it.
oh ok, gotcha, yeah I mean, math is my strength, but without the life expectancy variable I had no idea where your math was coming from. It is insightful to think of shaving costs and saving in the grand scheme…
Another method in the same vein that I’ve used is to compute the “annuity cost” or a recurring expense, habit, or commitment—in other words, how much do you have to put away in savings to produce the $1/wk or $60/mo or what have you.
It’s eye-opening as well, but I like that your approach only requires 5th grade math. So nice and simple, and you don’t need a crystal ball to tell you what yields will be like over the course of your life.
“It is insightful to think of shaving costs and saving in the grand scheme…”
What does Mrs. Gandhi think about that?
Boomers aren’t geniuses, they were in the right place at the right time. Couple that with their love of material things and they can’t understand why young folks don’t want a $700,000 starter house. I’ve personally given up listening or discussing financial things with Boomers. The look on their face when I say I rent, have a 10 year old TV, don’t have a premium cable package, drive a used non-luxury vehicle is priceless. To them it means I’m poor, but that’s the way we choose to live our lives.
Don’t talk to boomers. Just go about your own life and be happy.
Don’t talk to boomers. Just go about your own life and be happy ?
Kind of a broad stroke there don’t you think Sean…
“The look on their face when I say I rent…”
That’s the debt donkey eyes. With the wear of age, it shows more.
A friend’s uncle just passed with some serious cash in his accounts, and he was a lifelong renter, so…
MOAR HOUSEZZZZ
Hang in there buddy. I was in your shoes in 1987, part of the last year of the baby boomers and all my older colleagues had a head start in the real estate market AND they were clogging up the management ladder so I wasn’t getting any promotions. Then the stock market crashed and took real estate down with it.
For now, save your money because your chance will come. Look at your budget and see where you can economize. I hope you’re not spending money on a fancy car, a daily latte, and other unneeded luxuries. I hope those “couple of trips a year” are done on a shoestring budget.
“But if something happens, if the dishwasher or washer or dryer goes out, you need to have a buffer.”
Don’t forget that sinkhole rider!
‘Housing affordability is now below average in half of the nation’s top 20 metropolitan markets, according to John Burns Real Estate Consulting. These include Denver, Houston, Austin, Texas, and Nashville, Tennessee.’
‘This means that they are at high risk of a sharp price correction whenever the next recession hits,’ the Burns researchers said.’
Notice they didn’t say if interest rates rise. And the Burns outfit are cheerleaders.
“when the next recession hits” - Lol, because it hasn’t been here since 2008
‘Estates at Acqualina is the latest South Florida project to be placed on hold, canceled or delayed amid a slowdown in the condo market this cycle, as the strong U.S. dollar and foreign economic turmoil continue to dampen sales. Among the developments, Alan Faena has placed his Versailles planned condo project on hold and is considering building another hotel instead; H3 Hollywood, a planned condo tower, has put construction on hold while its developer seeks financing; Boulevard 57, a planned mixed-use project on Biscayne Boulevard in Miami, called off condo sales this summer, and the entire site is now being marketed for sale. And Auberge Miami, a planned condo tower just north of downtown Miami is delaying construction until at least late 2017.’
Another day, another multi-million dollar Miami condo gets stuck. This isn’t even a complete list. None of the local print media covers this anymore. At this point a few years ago, national and global media would be running around, interviewing the poor bastards that sunk huge piles of cash into these holes in the ground.
I was browsing some real estate articles and it made me think about exploring the mortgage options at my credit union. Since when did conventional 30 yr loans lower the down payment requirement to only 5%? I knew that Fannie Mae and Freddie Mac had “HomeReady” and “Homebuyer” programs with 0%, but sub-20% down payments for conventional 15s and 30s is new to me…
Sub-20% has been the norm for the past 15 years. I bought in 2012 with a conventional 30 and only 10% down. I paid PMI for a little under 4 years.
You didn’t “buy” anything LOLZ
‘the norm for the past 15 years’
And what have house prices done since then?
Sub-20% has been the norm for the past 15 years. I bought in 2012 with a conventional 30 and only 10% down. I paid PMI for a little under 4 years.
It has been that way longer than 15yrs. I did the same when buying my first house—back in 1993: 10% down, 30yr. With aggressive prepayment, I got rid of the PMI within a couple of years, IIRC.
Has anyone ever found a Realtor who says, “now is not the time to buy?”
When will these turds be obsolete?
Lol, seriously, youd think Zillow, Trulia, and Craigslist would make them obsolete. There needs to be an app for that. Amazon Prime my house!!!!
What doe realtors do? Make an MLS listing with big bold buzz words, “Hot hot neighborhood, dont miss out!”, then spruce the place up with a bottle of wine, fake fruit, and some hand towels. Wow, you totally earned that 6% off the $300,000 sales price….
Give people the ability to create their own MLS listing and see how many line up at Century21 or Remax
We have been saying that since Win 3.1.
Maybe Trump will end the monopoly? I am sure he thinks the commissions are a joke too.
The best one I heard was “Last month was my best month ever.” That was soon after the bubble burst.
Some folks still bullish on multi-family in Sun Diego:
“Seven years into the current cycle, multifamily values and rents are at record levels. The biggest questions: Where are we in the cycle, and is San Diego’s multifamily product overbuilt?”
https://www.bisnow.com/san-diego/news/multifamily/san-diego-multifamily-still-going-strong-but-developers-worry-about-rising-rents-67055?be=dculp%40sandiego.gov&utm_source=Newsletter&utm_medium=email&utm_campaign=tue-01-nov-2016-000000-0500_san-diego-re
There’s probably only a couple or three dozen who aren’t insanely bullish on multi-family. Six months ago there were less than ten. A year ago it was just me, AFAIK.
and some of your readers.
Not bad for the Lolas:
The Q3 earnings season is in full swing and the investors are keeping a tab on the companies’ performances. Several companies have come up with better-than-expected third-quarter 2016 results, despite a challenging operating environment.
Per the latest Earnings Preview report nearly 79% of the S&P 500 companies in the Finance sector have reported results for third-quarter 2016 so far. Total earnings for these companies increased 9.3% year over year on a revenue improvement of 5.9%. Notably, 74.6% companies have surpassed bottom-line expectations and 73.2% beat on the top line.
S&P 500 today closed under the number some Fibonacci guys said would signal look out below.
well…, at least we had some good times. (73% did)
What 73% are you talking about?
Notably, 74.6% companies have surpassed bottom-line expectations and 73.2% beat on the top line.
lol@lola
“What they do?
Gonna ban the AK
My sh*t wasn’t registered
Any f*ing way” (1990):
https://www.youtube.com/watch?v=UN2D9yct2tY
Citizen! Your glorification of these weapons of war that have no place on our streets has been duly noted! Why do you hate toddlers so? Your bunk in the re-education camp has hereby been reserved. Forward!
Notice how hard the corporate media is trying to lure the last of the retail muppets into Wall Street’s rigged casino before Da Boyz slip out the back and the bottom drops out?
http://www.marketwatch.com/story/these-charts-say-bull-markets-best-days-are-still-ahead-2016-11-01
Liar liar pantsuit on fire. (Hillary keeps adding to her list of whoppers.)
http://www.breitbart.com/2016-presidential-race/2016/11/01/hillary-clinton-says-she-was-in-new-york-city-on-911-she-wasnt/
End-game. Watch and learn, ‘Muricans. There’s no such thing as something for nothing.
http://www.zerohedge.com/news/2016-11-01/venezuelas-currency-disintegrates-plummets-20-one-week
It’s more than that. Venezuela has been ruled for decades by a corrupt, inept dictatorship. The oil fueled free sh!t was just to keep the proles from revolting, and it worked, until the graft overwhelmed the oil revenues (falling prices didn’t help either).
Something similar happened to Mexico in the late 70’s and early 80’s. When the oil money flowed the gov’t hired people like there was no tomorrow. It was a golden age, though it was brief and it ended calamitously when oil prices crashed in the early 80’s. Within a couple of years the Peso went from about 20 to a USD to 300. In a few more years it was 3000 to a dollar. Had they not lopped 3 zeroes off the currency in the 90’s it would now be about 19000 Pesos to a USD.
And BTW, the Peso is falling again, because Mexican markets are convinced that Trump is going to win.
Interesting; if it is sinking against the dollar, that suggests the markets believe that it will hurt them more than it hurts us.
‘N’ Gillian’ll meet me like a brother would
I think I remember but it’s twice as good
Like how cool the rum is from his silver tray
I thirst to be thirsty in Montego Bay
https://www.youtube.com/watch?v=vXRnxieda34
Is there anybody in Clinton’s inner circle who isn’t under FBI criminal investigation?
http://www.dailymail.co.uk/news/article-3889994/Influence-peddling-acting-Putin-s-ally-hiding-classified-secrets-sexting-FIVE-separate-FBI-cases-probing-virtually-one-Clinton-s-inner-circle-families.html
It’s clearly Putin’s fault. Don’t you know anything?
Korean shipbuilders, who bought into the “Everything is Awesome!” meme, are now requiring massive taxpayer bailouts as global freight volumes collapse in our Obama-Fed-Goldman Sachs “recovery.”
http://wolfstreet.com/2016/11/01/collapsing-tbtf-shipbuilders-get-bailouts-in-south-korea/
Corruption … Gangnam Style!
Liberal Money’s Longterm Strategy To Control Public Opinion And Secure ‘Advantageous’ Demographics
PETER HASSON
Reporter, Associate Editor
1:07 AM 11/02/2016
Read more: http://dailycaller.com/2016/11/02/revealed-liberal-moneys-longterm-strategy-to-control-public-opinion-and-secure-advantageous-demographics/#ixzz4Or7lBhqG
FORMER BRITISH AMBASSADOR: PODESTA EMAILS LEAKED BY WASHINGTON INSIDER, NOT RUSSIANS
Paul Joseph Watson - NOVEMBER 2, 2016
Former British ambassador Craig Murray says he was told that the source of the John Podesta email leak was a Washington insider and not the Russians, as Hillary Clinton’s campaign continues to claim.
“The source of these emails and leaks has nothing to do with Russia at all,” Murray told Sputnik. “I discovered what the source was when I attended the Sam Adam’s whistleblower award in Washington. The source of these emails comes from within official circles in Washington DC. You should look to Washington not to Moscow.”
Murray went on to blast the narrative that Wikileaks is a conduit for Russia by asserting that such claims are “designed to divert attention from the content of the material.”
Wikileaks mocked the Clinton campaign’s obsession with conspiracy theories about Russia yesterday with a tweet that read, “No link between Trump & Russia. No link between Assange & Russia. But Podesta & Clinton involved in selling 20% of US uranium to Russia.”
Cal Foxtrot Yankee • 2 hours ago
“My grandfather is voting for Hillary. I tried talking him out of it but he has been dead for a while now.”
Got gold?
http://www.kitco.com/market/
Working-class Democrats are no longer working and they’re defecting to Trump in droves as the globalists outsource their livelihoods and blight their children’s futures.
http://www.independent.co.uk/news/world/americas/us-elections/inside-the-west-virginia-steel-town-destroyed-by-nafta-where-94-of-jobs-have-disappeared-and-donald-a7389846.html
Was listening to the news on the way in to the office. Apparently foreign investors believe that Trump will win, despite what the polls say.
An analyst from London was quoted say something along the lines of “the belief is that many Trump voters aren’t telling pollsters how they will vote, perhaps out of fear of reprisals”, and that said investors are retreating from the US because of the market uncertainties that Trump will bring.
In other words, they know that Brexit 2.0 is about to happen.
Ironically it is certainty that Trump will bring.
Be afraid, San Francisco and NYC landlords. Be very afraid.
http://wolfstreet.com/2016/10/31/cheaper-rents-in-new-york-san-francisco-other-cities-incentives-pile-up-new-apartments-flood-market/
It’s airBNB’s fault. Wait, that’s for higher rents, shoot they must be out of narratives to push…
Paris is getting culturally enriched. Hey Frenchie, isn’t globalism grand?!
http://www.dailymail.co.uk/news/article-3896774/Migrant-battle-streets-Paris-Large-gangs-men-armed-makeshift-clubs-fight-Calais-Jungle-camp-destroyed.html
Jobless people in our Obama-Fed-Goldman Sachs “recovery” aren’t doing much driving.
http://www.zerohedge.com/news/2016-11-02/oil-tanks-after-biggest-inventory-build-34-year-history
Heck, I work from home 2-3 days a week. This is becoming more and more common.
My company allows that. I will start to have the luxury of doing this next year. But I love my office. It’s a home away from home.
Quote of the Day.
http://www.theburningplatform.com/2016/11/02/quote-of-the-day-604/
But…but…Yellen purports to see no inflation.
https://mishtalk.com/2016/11/01/retail-sales-poised-to-suffer-on-higher-medical-rental-inflation/
End the Fed and its rackets against the 99%.
http://www.marketwatch.com/story/its-time-for-the-federal-reserve-to-help-americans-reduce-debt-2016-11-02?link=MW_latest_news
Is your God promising you to end the Fed? Is your God going to promise you to cut the federal debt?
Jesus loves you. Everyone else thinks you’re a tool.