Why The Fed Is Worried About A Bubble
A report from the Post and Courier in South Carolina. “Baseball season came to a thrilling end in Cleveland early Thursday morning, but the game lives on as an analogy for the smoking-hot commercial real estate business. Shellacked in the last recession, the industry has been in rally mode for the better part of seven years. That kind of a hitting streak draws the inevitable sports comparison among real estate economists like Bob Bach. Bach, director of research for the Americas at the commercial real estate firm Newmark Grubb Frank Knight, was in Charleston last week to help kick off a panel discussion about the state of the industry, both nationally and locally. The title of his opening talk summed up the big question that most everyone in the room and in the business is asking right now: ‘Past the Freshness Date?’”
“It’s arguably best of times. Vacancy rates at income-producing properties such as office buildings and apartment complexes are sinking in most markets, nudging up rents and spurring new construction. ‘I call it the golden age of commercial real estate,’ Bach said.”
“Charleston is a golden child of this gilded era. Apartments continue to go up at a rapid clip across the region, and hotel developers can’t seem to add rooms quickly enough. As in the pre-recession era, all of the frothiness is raising concerns as prices continue to climb and spread development of all kinds farther inland. At the national level, and at the Federal Reserve, much of the hand-wringing stems from whether the industry is in a bubble pumped up by years of low interest rates and the pursuit of higher returns. ‘We’re still seeing a lot of capital coming into commercial real estate - and lot of capital from overseas,’ Bach said. ‘That’s why the Fed is worried about a bubble.’”
“‘I don’t see anything on the horizon that will tip us into a recession,’ Bach said. But he also cautioned that downturns are difficult to predict. And they’re more likely to start after a presidential election, Bach added. The takeaway for anyone with skin in the real estate game - from brokers to bankers to builders - is to be prepared for the inevitable slump. For when the bats go quiet. For when vacancies and values go the other way. A game of baseball, in theory, can go on forever. An already long-in-the-tooth real estate rally most certainly won’t. ‘There will be another recession,’ Bach said. ‘We have to be practical about that.’”
From Forbes. “U.S. housing supply is down and prices are up, but there is at least one sign of softening. Landlords and sellers are increasingly cutting prices in order to find takers. According to a new Trulia analysis, in the 12-months through September, advertised prices were reduced on 9.32% of rental listings around the country, up from 7.97% in the prior year. The share of rentals with price reductions increased in 80 of the 100 largest metropolitan areas. Of the 100 largest metro areas, 70 experienced an increase in price reductions on for-sale listings year-over-year.”
“Every month this year the share of listings taking prices cuts was higher than that same month a year earlier and the year-over-year difference have expanded as 2016 has progressed. In a separate analysis Trulia found that price cuts are more common in the luxury market (which Trulia defines as the top third of the market).”
“Geographically the cuts were highly concentrated. Four of the ten cities with the biggest pickup in rental reductions are in Texas and most of the rest are West Coast tech hubs that have seen a surge in popularity in recent years. San Francisco offers a striking case study. Sale prices in the city are up more than 70% over the past five years. Nevertheless, a whopping 21.31% of rental listings in the city experienced a price reduction this year, that’s more than any other metro area.”
The Real Deal on Florida. “West Palm Beach Mayor Jeri Muoio’s rejection last week of a plan to allow 30-story office towers on the city’s waterfront made billionaire real estate investor Jeff Greene very happy. If the city had adopted the plan, Greene said he would have questioned going forward with all his various projects in West Palm Beach, where he estimates that he owns about $300 million of real estate. But now it’s full-steam ahead. ‘I’m ready to go now’ on several projects, Greene said.”
“The decrease in office space came after Greene spoke to real estate agents who said that 400,000 square feet is too much for the city to absorb. ‘It’s not like companies are lined up for this one,’ Greene said. ‘It’s been publicized in the national media, but no one has called me for space.’ Still, he’s confident he’ll be able to fill the Class A space with 30-40 quality tenants.”
“As for increasing the residential component, ‘downtown West Palm Beach keeps getting better,’ Greene said. ‘If you have apartments in a viable city, there will be people to rent them.’ Given the raft of residential building downtown now, rents may fall. But ultimately, they will rebound, he said.”
From Click 2 Houston in Texas. “These days, it might seem like there’s a new apartment building going up on every street corner in the Inner Loop, and although the local economy might have taken a hit with the downturn of oil and gas, many new rental projects have persisted. ‘When you’re driving around Houston now, especially inside the Loop, everything looks completely different than it did even three years ago,’ said Realtor Brittany Taggart, of Urban Leasing and Real Estate. ‘Places that were just a small lot (are) now a huge, mid-rise apartment complex.’”
“In September, occupancy rates dipped to 89.4 percent — a sharp decline from 91.2 percent occupied in September of the previous year, according to Apartment Data Services. The same report shows more than 17,000 new units ready for move-in as of September 2016 — only about 18 percent of which were occupied at the time the report was published.”
“A glut in the apartment rental market means complexes are competing with one another, and offering a variety of enticing specials to lure renters. ‘(Luxury apartment complexes) are offering insane specials right now,’ Taggart noted. ‘Anywhere from one month to even three months free. They’re offering iPads, they’re throwing iWatches at you, TVs (and) Visa gift cards.’”
“One such project is Market Square Tower in downtown Houston, a luxury high-rise apartment that boasts the tallest swimming pool in Texas — suspended 42 stories above the ground, off the side of the building. Like other new properties, Market Square Tower is offering big incentives, too: half-off rent for the first six months with a 13-month lease agreement.”
“So, what does this mean if you’re renewing a lease? One woman, Lacy, knows doing some research can make a big difference when it comes to negotiating a renewal. When the lease at her Upper Kirby apartment was up this summer, management wanted to increase her rent, even though she noticed a lot of empty units in her building. ‘I was not happy,’ Lacy said. ‘So I called around other complexes to see what specials they offered.’”
“Lacy also checked her apartment complex’s website and saw much lower rates advertised than what they were offering her for the same size and style as her apartment. So she asked for a discount. And she got one. Lacy said she negotiated a rate that was about $200 lower, and she was able to secure a storage unit at her property for a discounted rate. She still agreed to a longer lease. ‘Before you renew, do your homework,’ Lacy said. ‘Know the occupancy rate of your apartment. Know if you want to switch to a two-bedroom versus a one-bedroom.’”
‘An already long-in-the-tooth real estate rally most certainly won’t. ‘There will be another recession,’ Bach said.’
Guess what Bob, the recession’s already arrived in Houston:
‘The same report shows more than 17,000 new units ready for move-in as of September 2016 — only about 18 percent of which were occupied at the time the report was published’
And Houston was building more houses than California.
Lacy - you can’t be a victim if you read the paperwork!
———
“Lacy also checked her apartment complex’s website and saw much lower rates advertised than what they were offering her for the same size and style as her apartment. So she asked for a discount. And she got one. Lacy said she negotiated a rate that was about $200 lower, and she was able to secure a storage unit at her property for a discounted rate. She still agreed to a longer lease. ‘Before you renew, do your homework,’ Lacy said. ‘Know the occupancy rate of your apartment. Know if you want to switch to a two-bedroom versus a one-bedroom.’”
She still agreed to a longer lease.
You want a longer lease when rents are increasing, not when they are decreasing!
‘I call it the golden age of commercial real estate,’ Bach said.’
‘Charleston is a golden child of this gilded era. Apartments continue to go up at a rapid clip across the region, and hotel developers can’t seem to add rooms quickly enough.’
A golden age indeed. Oceans of money. How much of this is known by the Average Joe?
‘Multifamily construction in Greater Phoenix returned to record level highs for completed number of units, rental rates and investment activity for the first time in over a decade. This year marks one of the highest rates of completion of multifamily developments since 2000. It also exceeds investment activity levels not seen since 2007. In turn, rental rates rose for a seventh consecutive year, which marks a 30 percent rise since 2009.’
“There has been somewhat of a pent up demand for high-end, rental housing in Arizona for the past several years,” says Tom Shelton, principal at Shelton-Cook Real Estate Services.’
‘The other big change in the multifamily market are the amenity packages being offered at new developments that focus on connecting people to people through their shared interests.’
“New amenities run the gamut – high end and world class fitness facilities, resort pools and outdoor living spaces, in-unit Wi-Fi and surround sound, concierge services, dog washing stations, Uber discounts and gift cards,” explains Shelton. “Chances are if you look long enough, you’ll find most anything.”
‘These new buildings are at a whole new level of quality compared to traditional apartment complex of the past, adds Anderson. Whether it’s a virtual driving range, lounge, bar, kitchen, billiards room, outdoor fire pits or big projectors to watch Sunday’s big game, these luxury multifamily developments are not holding back in terms of amenity packages.’
‘Richard Renta, regional director of Arizona at Weidner Apartment Homes, says, “There are so many communities that have these extensive amenity packages, what is going to distinguish them from the rest is the level of service they can give renters.”
‘There is still a thirst for amenity driven communities with rooftops pools like @51 Phoenix Apartments near the Camelback Corridor area. However, Renta explains, “Over the years, everything is being called a luxury community” and newer developments are starting to feature all the same amenities and options. Thus being able to provide next level service will be key for these apartment complexes, he adds.’
And don’t forget Richard, these amenities don’t generate revenue.
What I don’t get is where is the market signal telling these guys to build? I can’t imagine every new hotel they build is 100% occupied.
Artificially-suppressed rates (suppressed to historically unheard-of levels) shifted the break-even point such that projects “penciled out”; unfortunately for them, with everyone building the same product, it didn’t take long to end badly. Even without the same thing being built, there would have been a bagholder if rates, and cap rates, ever normalized.
The Fed is creating massive distortions in this eCONomy while sitting back, smiling, professing everything is just fine.
From Fannie Mae’s website on Multifamily (note the 37% Y-O-Y increae)
Another Big Year for Multifamily
Sales of apartment properties valued at $2.5 million or more totaled $32.7 billion in the second quarter of 2016 – down slightly from $39.3 billion in the first quarter, according to Real Capital Analytics. That brought the total to $72 billion for the first half of 2016 – a 37 percent increase over the first half of 2015. While activity dipped in the second quarter, it was still up a respectable 5.0 percent year-over-year. The sales volume of other commercial real estate property types, by comparison, declined in the first half of 2016 year-over-year.
Do you believe anything Fannie puts out there?
‘There are nearly 150 senior housing communities in Maricopa and Pinal counties, according to a report by the National Investment Center for Seniors Housing & Care. That translates to around 23,000 units. Senior housing is a growing industry in the Valley. And a lot goes into not only the development of a community, but also the look and feel.’
‘It’s moving day at MorningStar Assisted Living and Memory Care. Sort of. “This is a studio apartment, it has everything you’d have in your own home. A nice stainless-steel refrigerator and a quartz countertop,” explained LuAnn Thoma-Holec, owner of Thoma-Holec Designs in Mesa.’
‘But this isn’t your typical studio apartment. ..There’s a cafe, a restaurant, a theater room and a beauty salon. In other words, explained Thoma-Holec, “all the amenities that help them to socialize, but then it still has to feel like home in certain areas and be comfortable for the residents.”
‘Which means everything is custom ordered for the client, she said. Like the wing chairs used in several seating areas. For Thoma-Holec, every detail, no matter how mundane, matters.”There are literally thousands of units a year coming online in the Phoenix market and I don’t see that stopping for the next probably three years at a minimum,” said Brendan Morrow who is with Drive Development Partners, a real-estate firm that develops senior housing.’
“You do see the majority of developments chasing the top 5 percent of income levels and then you have some that are chasing the top 1 percent,” he said.’
‘the majority of developments chasing the top 5 percent of income levels’
‘Tuesday began with one major senior housing provider warning of historic levels of new competition in certain markets, and ended with another prominent provider telling a different story.’
‘Brookdale Senior Living (NYSE: BKD), the nation’s largest senior living provider, blamed bad third-quarter financial results largely on “unprecedented” levels of new competition in secondary markets. But Capital Senior Living (NYSE: CSU) said that demand remains strong and oversupply fears should not be blown out of proportion.’
‘Despite the record number of move-ins, Capital Senior Living’s results were hurt by an unusual number of move-outs during the third quarter. The company averages 404 monthly move-outs, but experienced 437 in July and 468 in August, Cohen said.’
‘Capital Senior Living did discount rents as part of an effort to counteract the high attrition, but the company is moving away from this and looks to build rate growth going forward, Cohen said. The company’s overall portfolio is expanding as well.’
‘Capital Senior Living is set to complete the acquisition of a senior housing community this week for $29 million, following the acquisition of two other communities in late September for $45 million. They are located in Texas, Massachusetts, and Ohio, and encompass 405 units of independent living, assisted living, and memory care.’
‘The company expects to close on another four-community acquisition in January 2017, at a price of about $85 million.’
‘A Washington, D.C.-based real estate research firm is looking to fill the top floors of Richmond’s WestRock building, potentially bringing hundreds of employees in tow. CoStar Group, a publicly traded company that recently opened its first local office in Henrico, is set to fill the top three floors of the nine-story glass-paneled downtown building at 501 S. Fifth St., according to multiple sources with knowledge of the move.’
‘WestRock put the space on the market for sublease in March, after the company consolidated its offices in the building following its formation last year through the merger of Atlanta-based Rock-Tenn Co. and fellow packaging giant MeadWestvaco.’
‘CoStar’s arrival would fill a sizable hole in a downtown office market that has plenty holes.’
‘Riverfront Plaza and the Bank of America Center, which were among a string of towers that changed hands in recent months, have about 250,000 and 120,000 square feet available, respectively, according to information from CBRE | Richmond. That’s in addition to the nearly 300,000 square feet available for lease at the three-building James Center complex, which went up for sale in September.’
‘The average asking rate for office space in Richmond was down in the third quarter at $19.31 a square foot, according to the report. The average asking rent for office space in the central business district also declined to $21.20 a square foot.’
“This was largely due to the continued decline of asking rents in Richmond’s soft CBD market where large holes are pressuring landlords to lower rents to attract tenants,” the report states.’
Leasing’s Down, Availability Rates Are Up And Office Owners Are Growing Desperate
‘As Manhattan leasing activity remains sporadic, landlords are going to extreme lengths on their retention efforts, according to reports from Savills Studley and Colliers International. Overall Manhattan leasing activity fell slightly from 8M SF to 7.6M SF last quarter.’
‘October was slightly better than September—highlighted by big leases by Major League Baseball and the NBA—but leasing’s still down one-third year-over-year, Colliers reports. As such, availability rates have risen. Midtown, for example, saw its Class-A availability rate jump to its highest point in years, and it continued to rise over the course of October.’
‘Desperate to keep their existing tenants, owners have begun adjusting lease terms, lowering asking rents, raising renewal concessions, increasing build-out packages, going all out with their build-outs with high-end glass and wood (despite the sharp increase in costs), and using swing spaces to keep important tenants in building as renewed spaces are built.’
‘REITs and short-term asset holders were the first to adopt these tactics, Savills Studley writes, but longer-term asset holders have also begun to do so. The firm notes that the cost of replacing a tenant is high, and many landlords face the risk of an extended lease-up period.’
‘Short-terms leases could continue to increase as businesses grow cautious over (rather ironically) the office market’s strong conditions. Although rents are expected to decrease in the next year or two, Savills Studley doesn’t expect a 2008, post-Lehman-type crash.’
Laws are for the little people. What corrupt, out of control and power mad politicians we have in office.
This is a short video of obama telling illegal immigrants to vote. No one will do anything to you. Our leaders are blatantly breaking the law and the MSM said there is no voter fraud.
https://youtu.be/nfgEvgVC6Qs
Sad that the GOP does not stand up to him.
And be called racists by the main stream media?
Not a chance.
Criminal. Of course this invalidates any Democrat wins this week. It also explains why they’ve let illegals rush the border for the past two years. Combine this with the Project Veritas video of Clinton operatives discussing busing illegals around the states to vote and the wiki-leaks stuff. We live in a banana republic.
You know, a challenger to the Democrats pretty much has to run the table to even have a chance of beating them. Yet with the huge advantage they have before lifting a finger and they resort to this. It’s disgusting. Wait though, I sense a flood of condemnation from the anti-Trump posters here at this outrageously illegal scheme.
18 U.S. Code § 611 - Voting by aliens
(a) It shall be unlawful for any alien to vote in any election held solely or in part for the purpose of electing a candidate for the office of President, Vice President, Presidential elector, Member of the Senate, Member of the House of Representatives…
I thought the same way. They let them in for VOTES pure and simple.
Wait though, I sense a flood of condemnation from the anti-Trump posters here at this outrageously illegal scheme.
Hope you are not holding your breadth. LOL
Frauds! Everyone of them! That’s why any rational debate with them is so impossible. “Look Trump he’s filling the stadiums like Hitler used to.”
Here’s a few Clintonistas sporting that “new attitude”
https://www.youtube.com/watch?v=tLmNI0omIe8
And heres another getting some sweet karma:
https://twitter.com/Daniel_Ohana/status/795436627665518592
I figured out over 20 years ago when I first started to follow politics that dem politicians and many of their supporters have no principles, just a lust for power and a criminal core with no morals or ethics.
And somebody like Tom DeLay was principled? What are Dick Cheney’s morals or ethics? Unchecked power is corrupting regardless of political party.
18 U.S. Code § 611 - Voting by aliens
(a) It shall be unlawful for any alien to vote in any election held solely or in part for the purpose of electing a candidate for the office of President, Vice President, Presidential elector, Member of the Senate, Member of the House of Representatives…
so can illegals vote or not? dont you need ID?
Wholeheartedly agree, snake. And then there’s Abramoff, who is all butt hurt wondering why he wound up on the wrong end of justice and the Clintons haven’t.
And I’d just like to say, I have come to have a deep respect for you and your quiet, but firm and principled perspective. Were I in your position, I’d be voting for Jill Stein, too. I voted third party myself the last three election cycles.
When I was in the trades, 2000-2003, the illegals we used would never vote for fear of being in some database that would deport them. they do all they can to be incognito. Most of them did not even go by their real name.
The change I feel Snake, is that the effort to keep a good face on things is fading rapidly. It’s like they believe they do not have to hide, they think we are all psychopaths too. Just when we thought we couldn’t be shocked by anything in this, there it is, Bam.
Probably this is not a bad turn in the long run. Things need to be in plain sight for most to get the picture. It should be an “interesting times” for a while.
Blue Skye, interesting post. Indeed it is against US Federal Law for aliens (non-citizens, illegal residents or not) to vote in Federal elections.
As for in local and state elections, this varies by state and other juridictions.
https://en.wikipedia.org/wiki/Right_of_foreigners_to_vote_in_the_United_States
What I am not sure about is whether any or all states have a system where one can get a non-citizen ballot which excludes the voting options that are only permitted for citizens. Otherwise it would be up to each voter not to check any boxes/candidates in those elections for which they are not qualified. “It’s complicated”, as they say.
Just,
The states may not have a control on this, but if it is a mixed election, say President and School board, the alien may only vote if there are distinctly separate ballots, is my take.
CFR 611 is pretty clear on this.
SO much irrational fear out there controlling people. Ryan is so weak.
Hello to the Village Idiot.
“I voted third party myself the last three election cycles.”
Yep, just wrote in the Mormon guy… Evan McMullin.
“This is a short video of obama telling illegal immigrants to vote.”
I have been sharing this for 2 days, the most shocking thing about it is people are not shocked.
Y’know, just on that alone, Obama should be cuffed and brought up on charges of treason and impeached. But as I’ve said before, we don’t have a justice system anymore, nor any real law enforcement to speak of.
LIVE Stream: Donald Trump, Mike Pence MASSIVE Rally in Manchester, New Hampshire (11/7/2016)
https://www.youtube.com/watch?v=cxXUC1_U2mY
I’m not so entirely certain that Obama is telling illegal immigrants to break Federal law by voting in Federal elections. Is that what he is doing?Obama is too much of a lawyer to do that. He may be talking about voting in state and local elections, where that is permitted. See wikipedia link in my previous post.
Voters waiting to cast absentee ballots at Azalea Road Church of Christ in North Charleston
Don’t you find it at least a bit odd that this # of people could turn up on a Monday, but not Tuesday?
0 replies 0 retweets 0 likes
interesting this picture
https://twitter.com/postandcourier/lists/p-c-business
Check yer link
looks like the house sold 3 bidders…..one wanted to knock $20k off cause they hated solar panels, one at full price and one at $10k more….waiting for appraisal…..agents wanted to start at least $25k more glad they said no…
downside its zoned 1 family, but they built it around a MIL apartment she sold her house in the bronx and yonkers wanted them to take out the kitchen….
so now its the next owners problem…and a full basement one bidder asked if they can pave a sidewalk to the back entrance…..already looking to illegally rent it to cover the payments…..
https://www.trulia.com/property/3245724977-71-Aka-73-Shelley-Ave-Yonkers-NY-10701
Residents at a 3-year-old apartment complex near North Charleston’s trendy Park Circle area have been notified they must move out by the end of the month because of structural safety issues.
http://www.postandcourier.com/business/structural-issues-to-force-mixson-residents-from-homes-tenants-notified/article_15cf863f-9ff0-5ac8-83f8-32e138ad4419.html
Luckily they were bitter renters and can leave with any real financial hardships.
Water behind stucco? Which has rotted the wood supports? Put on by illegals who had no clue what they were doing? That’s so 2005…
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As a result, all leases are being terminated over “concern that the buildings are not safe for long-term occupancy due to water intrusion which has caused structural issues.”
North Charleston is the ghetttoooooooo, lol, “trendy”. I worked a few projects at the shipyard there (former Navy yard), its rough outside that compound. Heck that’s where the unarmed 50 yr old black man was gunned down from behind last yr.
As the Chinese say, “Chabuduo!” (Close enough …)
https://aeon.co/essays/what-chinese-corner-cutting-reveals-about-modernity
Just scoped out a few properties I’ve been seeing pop up in my Mass. north shore town. Random sampling shows they’ve all had 4-7% haircuts in the Sept-Oct time frame. Also I keep seeing more houses pop up for sale, kind of weird in a “slow season”, as I’ve said in previous posts, people must be sensing a top (or have sensed) and decided to go out, because I find it odd to systematically see houses go for sale, sell, then their neighbors, then the other neighbors, while making your way down the block.
“At the national level, and at the Federal Reserve, much of the hand-wringing stems from whether the industry is in a bubble pumped up by years of low interest rates and the pursuit of higher returns. ‘We’re still seeing a lot of capital coming into commercial real estate - and lot of capital from overseas,’ Bach said. ‘That’s why the Fed is worried about a bubble.’”
___________________________/
That’s odd, because based on the institution’s public pronouncements, and commitment to low, zero, and prospectively negative interest rates, it doesn’t seem to be worried about a bubble at all. Or it’s much more worried about something else.
I didn’t have a chance to comment on the Missoula, Montana article yesterday, but I was there earlier this year and saw for myself how unaffordable the town has become. I got the sense that people there are cobbling together two or even three income streams to make a living: yoga instructor and tax return preparer, or fly-fishing guide, EMT and renting a spare room. You look in the paper, and all the classified ads are for jobs that pay $10 or $11 per hour. In the meantime, people in California buy houses, the median price for which is now almost six times the Missoula median income, and rent them to locals. The local independent paper was not happy, proposing a new town slogan of “Missoula–a great place to charge other people to live!”
It’s very much the same in the Asheville area of western North Carolina.
Asheville a/k/a “where Tampa takes summer vacation.” Despite that fact, I have never been there.
Can u people function without dollars?
Is that a questioned directed at Hillary and her foundation?
Who knew we had troops fighting in Jordan?
http://www.businessinsider.com/green-berets-killed-2016-11
Probably easier to give a list of countries we’re NOT fighting in, thats a much shorter list. Thanks neoconlib war mongers Obama/Clinton/Bush/deep state! Cant wait to see Hillary get a nobel peace prize too!
I read that in some parts of the country people rarely open up their windows. Like Houston or in FL. yikes!
My winders are open right now. It’s that time of year when we shake off the heat and humidititty of summer and enjoy a season I like to call “sprall” or “sprautumn”. An odd combination of autumn and spring. No winter to speak of.
Here we are transitioning from the season I call Cruising, to the season I call Art.
How was the inland sea this past summer? And has the autumn been showy up there, or sparse? What will you do over the winter? Is there ice fishing?
I’ve finished my Crichton novel and am reading two books, going back and forth between Tom McGuane’s The Sporting Club and Jack London’s South Sea Tales.
I wasn’t sure we would get beautiful fall foliage after the drought we had this summer. We did though. Past peak now, but still breathtaking. Oh I had a fine time on the water and the beaches. Next season I have invited my granddaughter to cruise with me. She’s seven. It will be fantastic. We did land camping this spring and it was perfect. I’ll be raising up another river rat to heckle future generations.
There’s ice fishing yes. I have no idea about this, but don’t aspire to sitting on a frozen bucket. My art studio is the winter focus. Two years of carpentry, wiring, insulation and drywall done. It ain’t pretty to the tax assessor, but it’s snug, efficient and purpose ready. I’ve got so many ideas, it will take a lifetime.
Now, that’s what I call livin’! Keep on keeping on, you are an inspiration.
The so-called “hard left” Syriza was swept to power in a wave of public revulsion over the Estabishment political parties’ corruption, crony capitalism, and anger over “austerity” to repay the banksters at the public’s expense. Of course, being unscrupulous leftists (redundant, I realize) they immediately sold out to The Powers that Be.
http://www.telegraph.co.uk/business/2016/11/07/greek-bonds-soar-after-tsipras-purges-hard-left-syriza-ministers/
With Wikileaks revealing how the Oligopoly media are adjuncts for the DNC, it’s unsurprising that the non-sheep among the populace are turning to upstart media outlets like Breitbart and Drudge.
http://www.breitbart.com/big-journalism/2016/11/07/breitbart-news-hits-record-240-million-pageviews-37-million-uniques-in-october/
And we have to read or listen to the traditional press like the average Soviet citizen did with Pravda.
It is more important what they don’t say rather than what they do say.
Like when Hillary has to campaign in traditional blue states right before Election Day…
Only 96% contributed DEM
Time for a discussion on long term sub 2% growth
What will it be like fir another 4-8 years
Thanks to Crooked Hillary and the scum who enable her corruption, soon ‘Murica will have its own “Glossary of Graft.” Forward!
https://www.theguardian.com/world/2016/nov/07/mexico-corruption-dictionary-corrupcionario-mexicano
Kate Bush: Wuthering Heights. A bit of the sublime before the light goes out.
https://www.youtube.com/watch?v=m9O9DyJnyMU
I always liked the duet she did with Peter Gabriel, Don’t Give Up.
Me to. More apropos than ever with the prospect of our feckless, amoral “countrymen” voting in Crooked Hillary tomorrow.
https://www.youtube.com/watch?v=VjEq-r2agqc
Thanks for posting. I needed that.
Don’t despair. Light is shining on things that cannot survive the light.
A Life Uncommon, by Jewel. The perfect anthem for decent, thinking 5% surrounded by braid-dead, amoral zombies.
https://www.youtube.com/watch?v=JDCjj9NNevw
Belichick, Brady back Donald Trump, the candidate says
Chris Cassidy Monday, November 07, 2016
MANCHESTER, N.H. — Donald Trump, speaking tonight at Southern New Hampshire University, said both Patriots coach Bill Belichick and quarterback Tom Brady have backed him in his race for president.
Trump, reading from a Belichick letter, says he hopes the results will give him an “opportunity to Make America Great Again.”
The coach also congratulated him on a “tremendous campaign,” despite “slanted” media, Trump said.
Brady also gave Trump the OK to quote him, and told the GOP nominee he voted for the New York real estate mogul, Trump told the crowd here.
Brady has been a Trump friend for years, he said earlier in the campaign, and a Trump “Make America Great Again” was spotted in his locker. He then backed off the topic.
Developing …
That is tremendous. Everyone loves Tom Brady and the Patriots.
“Everyone loves Tom Brady and the Patriots.”
+1 …from eastern Washington state.
Everyone from CT to Maine. Outside of that, they are incredibly hated.
Trump has Brady.
Clinton has Jay-Z dropping N-bombs…
Yeah but unfortunately Clinton also has Soros, Rothschild, Gates, Tim Cook and his Appleites, Goldman Sacchs, etc, etc…It’s an uphill battle from the getgo
Phony, phony, CHECK THIS OUT! Holy Donald Ducks, Scott Foval of Project Veritas undercover video fame is having a meltdown on Twitter after being thrown under the bus by the Clinton Campaign:
https://twitter.com/Scott_Foval/with_replies
Aw, brutal, just BRU-TAL.
I saw that, and looked at his feed, he went ballistic.
This looks like a fake site set up to troll Foval.
If it’s on Twitter, it’s absolutely, positively TRUE.
Ya mean like ABC, NBC, CNN, CBS, Washington Post, NYT, et al?
Don’t be such a Stiffy Stifferson.
http://www.nbc.com/saturday-night-live/video/pranksters/n11681
If you put a Twitter feed on the same level as reputable news outlets, that’s certainly your prerogative.
Very interesting. I wonder how much truth this holds? Because Massachusetts (aside from successful business folks and DoD contractors) are incredibly left leaning, but would be dumb enough to be influenced by Brady or Belichick since they literally worship the dudes. Everyday in the office after a Pats game I want to vomit. Even after the Jaimie Collins trade (their best defensive player) for literally a bologna sandwich, they shrugged it off because Belichick is a “genius God” in their eyes….Anywho, like I said, interesting to see the results of that. Although Maine and NH are a lot more conservative blue collar people, so they may be more Republican.
Aw, c’mon, Ben, please, please let that Scott Foval twitter link go through. Yes, I know some of it is a little R-rated, (well, ok, a lot), but it’s an absolute scream, I’ve been laughing so hard I can barely breathe.
Priceless.
Thanks, Ben. The whole tweet chain is both hilarious and tragic at the same time. The darker side of it is where he talks about Black Lives Matter and the paid agitators. It sure blows the lid off that one.
It’s probably meaningless to anyone who hasn’t seen the Veritas undercover videos. This guy is majorly pissed he was thrown under the bus. Also interesting are the Eric Braverman tweets, coupled with Seth Rich.
Make America Hate Again!
Live from Grand Rapids, Michigan, the final Trump rally. (Dang, I feel a little sad, sniff, sigh)
https://www.youtube.com/watch?v=pLERzuzgOaY&feature=youtu.be
Mike Pence talking right now. They had Ted Nugent earlier. Wild man.
What a ride it has been!
they had over 75,000 live viewers on that channel last night
Vote your conscience tomorrow, and keep America great and free!
Voters who enable corruption and crony capitalism are scum.
We must tax everything that moves (or stands still, for that matter). It’s for the children.
http://www.businessinsider.com/oxford-university-says-taxing-meat-and-dairy-would-cut-emissions-and-save-lives-2016-11
The Fed wants you to be a debt slave. Serfin’ USA!
http://wolfstreet.com/2016/11/08/portrait-of-the-american-debt-slave-as-of-q3/
Felons must be allowed to vote for one of their own: Crooked Hillary.
http://www.breitbart.com/2016-presidential-race/2016/11/07/mcauliffe-gives-60000-felons-voting-right-swing-state-virginia/
Huffpo joins the MSM fluffers in the tank for Crooked Hillary. Imagine that.
http://www.zerohedge.com/news/2016-11-08/podesta-email-exposes-ariana-using-huffpo-echo-hillary-message-without-any-perceived
Drain the swamp.
http://www.theburningplatform.com/2016/11/08/drain-the-swamp-election-day-open-thread/
The more dollars we create the richer we are! EASY PEASY!
If Hillary loses Florida by one vote she can blame my youngest daughter who will be voting for the first time today.
https://www.youtube.com/watch?v=j7GJcKuVGm8
Meanwhile, back in Obama’s old stomping ground….
http://www.chicagotribune.com/news/local/breaking/ct-chicago-weekend-shootings-violence-20161107-story.html
well its the beeg day…..
Why Political Correctness Must End | Milo Yiannopoulos and Stefan Molyneux
https://www.youtube.com/watch?v=uVYI9HO6aF0
unless hill uses gestapo tactics to imprison anyone with a different opinion, the death of political correctness will be soon…go trump
It was very nice of those Haitian children to grow up living in filth so Chesea Clinton could have such a nice wedding to go along with all the other good things in life that the ruling elite need.
Clinton aide says Foundation paid for Chelsea’s wedding, WikiLeaks emails show
Published November 06, 2016
http://www.foxnews.com/politics/2016/11/06/clinton-aide-targets-chelsea-in-email-as-foundation-audit-shows-issues.html
How the Clinton Foundation Got Rich off Poor Haitians
by DINESH D’SOUZA July 18, 2016 4:00 AM
Haitians such as Andre, however, noticed that very little of this aid money actually got to poor people in Haiti. Some projects championed by the Clintons, such as the building of industrial parks and posh hotels, cost a great deal of money and offered scarce benefits to the truly needy. Port-au-Prince was supposed to be rebuilt; it was never rebuilt. Projects aimed at creating jobs proved to be bitter disappointments. Haitian unemployment remained high, largely undented by the funds that were supposed to pour into the country. Famine and illness continued to devastate the island nation.
For example, the Clinton Foundation selected Clayton Homes, a construction company owned by Warren Buffett’s Berkshire Hathaway, to build temporary shelters in Haiti. Buffett is an active member of the Clinton Global Initiative who has donated generously to the Clintons as well as the Clinton Foundation. The contract was supposed to be given through the normal United Nations bidding process, with the deal going to the lowest bidder who met the project’s standards. UN officials said, however, that the contract was never competitively bid for. Clayton offered to build “hurricane-proof trailers” but what they actually delivered turned out to be a disaster. The trailers were structurally unsafe, with high levels of formaldehyde and insulation coming out of the walls. There were problems with mold and fumes. The stifling heat inside made Haitians sick and many of them abandoned the trailers because they were ill-constructed and unusable.
The Clintons claim to have built schools in Haiti. But the New York Times discovered that when it comes to the Clintons, ‘built’ is a term with a very loose interpretation.
Read more at: http://www.nationalreview.com/article/437883/hillarys-america-secret-history-democratic-party-dinesh-dsouza-clinton-foundation
Video of Clinton early voting ground game.
https://www.youtube.com/watch?v=grbSQ6O6kbs
Everything you need to know about election observers — and why the U.S. needs them
By Katy Collin October 28
The goal is an “accurate and impartial” assessment of the election. According to the National Council of State Legislatures, observers should be trained by their organization in election procedures. The NCSL and the Code of Conduct for International Election Observers state that poll monitors should be neutral and not interfere with the voting process.
https://www.washingtonpost.com/news/monkey-cage/wp/2016/10/28/everything-you-need-to-know-about-election-observers-and-why-the-u-s-needs-them/
‘IMPARTIAL’ ELECTION OBSERVER TWEETS SUPPORT FOR HILLARY
OSCE poll watcher violates his own “strict impartiality” code
Paul Joseph Watson - NOVEMBER 8, 2016
An international election observer has been caught violating his own code of “strict impartiality” by tweeting his support for Hillary Clinton.
Panagiotis Arkoumaneas is a Greek member of the Organization for Security and Co-operation in Europe Parliamentary Assembly (OSCE PA), one of the groups invited by the U.S. State Department to oversee the presidential election. OSCE observers will be on the ground today in crucial swing states like Pennsylvania, Ohio, North Carolina and Florida.
In a tweet posted Monday, Arkoumaneas retweeted a Politico article about FBI Director James Comey’s decision not to pursue charges against Hillary Clinton over her email scandal.
“This should give a final boost to Hillary’s campaign. Great news,” commented Arkoumaneas.
Here’s Citibank dictating the picks for national security. Lovely.
https://wikileaks.org/podesta-emails/emailid/57206
Ha-ha, selling out their union labor base for illegal immigration.
https://wikileaks.org/podesta-emails/emailid/57228
remember to get umbrella insurance and up your cars uninsured motorist because you cant sue an illegal if he rams your car and you are in intensive care for weeks
Umbrella insurance exists to cover the liability to others for damage you cause yourself. It does not protect you from damage done to you by others, such as uninsured motorists.
Uncle Charged In Death Of Child Found In Well; Was In US Illegally
http://dfw.cbslocal.com/2016/11/07/man-charged-in-death-of-tyler-girl-found-in-well/
I gotta admit, the Podesta brothers do bear an uncanny resemblance to the 2007 digital images of a couple of suspects in the Madeleine McCann kidnapping.
http://truthfeed.com/breaking-bombshell-multiple-reports-tie-clintons-podesta-brothers-to-child-abduction-case/34348/
Spooky!
hill reminds me so much of bob dole, i’m next, i’m next call on me, my hand is in the air