Potentially Not Enough People To Buy
A report from News.com.au in Australia. “Apartment prices are falling in Australia’s CBDs and it is a major cause for alarm. Prices in our major city centres dropped by an average of 6.3 per cent in the 12 months to July, according to CoreLogic figures. Every capital city CBD posted a decline in growth but where the largest declines are coming from is even more telling. It is being driven by our two highest performing capital cities. Sydney CBD apartment prices tumbled 9.1 per cent over the 12-month period while Melbourne CBD units dropped in price by 8.4 per cent.”
“A column in The Australian cited a one-bedroom apartment in Melbourne recently selling for $161,000. The asking price for that $161,000 apartment in the general market would have been in the order of $550,000, the column claimed. ‘Clearly, one seller was sick of the fact that their apartment was not selling and simply put it on the market for sale to the highest bidder,’ the column read.”
“This is because we are seeing more and more large apartment developments coming into the market, prompting fears of an apartment oversupply. The concern is amplified by the fact Chinese investors are largely the buyers of these new developments — regulation states offshore buyers can only purchase new real estate — leaving a ’secondary apartment market’ of property that sells way below the values investors are paying for off the plan.”
“‘In the next six months many tens of thousands of apartments in Melbourne and around Australia that have been bought off the plan by Chinese and other Asian investors will come up for settlement,’ the column stated. But more stock keeps coming. REA Group Chief Economist, Nerida Conisbee, said the amount of development in some of our capitals is ‘eye watering.’”
The International Business Times. “Sydney and Melbourne CBD are good places to rent an affordable apartment as the cities show a large decline in the apartment prices. Over the 13-month period, Sydney CBD apartment prices dropped in price by 9.1 percent while it’s 8.4 percent in Melbourne CBD. REA Group Chief Economist Nerida Conisbee told news.com.au that there are three main risks that the market faces due to the lowered price of apartments. The risks include settlement risk, occupational risk and secondary market risk.”
“Settlement risk rises when the prices or values drop as banks see it as a bad investment. It occurs when a buyer is not able to meet the legal obligations of a loan ending up defaulting on the loan. In effect, the buyer must pay a large deposit to make up the difference. The buyer may also end up paying more than the original cost.”
“‘Banks are now being restricted on the amount that they are lending, particularly to investors. They are being capped on the growth in their lending so they may see that particular apartment development as not being worthy of their lending. People have put down deposits two years ago … but the banks can change their approach to risk quite significantly,’ Conisbee said.”
“Occupational risk happens when an apartment is completed but there are no tenants renting. According to Conisbee, it is already happening in Brisbane and Perth CBDs. ‘While declines in rents are not great for investors, a large increase in the vacancy rate is even worse. No tenant equals zero rent, and therefore no return on investment,’ Conisbee said.”
“Secondary market risk happens when an offshore buyer has a slim chance to sell the apartments after realising that it does not give a good return on the investment. ‘The likelihood of Australians buying the 18,000 apartments [in Melbourne] coming to market in the next 18 months; it is a far smaller pool. There is just potentially not enough people to buy those apartments,’ Conisbee said.”
From the BBC. “Bidders slugging it out for a A$1.7m (£1.02m; $1.28m) shed. An apartment bought for A$750,000 in 2015 selling for A$1,08m this year. Neighbours quadrupling the value of their homes by banding together to sell their land in one transaction to developers with pockets that are hundreds of millions of dollars deep.”
“Welcome to Sydney, the glittering coastal city built around a blue-water harbour where the median price of a house is more than A$1m. Good value? For those who can afford it. Sydney is after all the financial capital of a country enjoying a record 26-year economic dream run. ‘We’ve seen some crazy results,’ says Hannan Bouskila, an agent with Raine & Horne Bondi Beach who recently sold the same property for the fifth time in eight years - a beachside studio that fetched A$461,000 in 2009, A$525,000 in 2011, A$610,000 in 2013, A$750,000 in 2015 and A$860,000 this year.”
“Add a construction boom that is seeing residential towers mushroom throughout the city, and you enter bubble territory - an economic phenomenon where price ranges for assets deviate strongly from their intrinsic value. ‘We have 300 cranes in the sky over Sydney building new apartments. I don’t think there’s a city in the word aside from Dubai with more cranes,’ says Lindsay David, co-founder of LF Economics and author of Australia: Boom to Bust.”
“‘The cracks are going to start to appear next year, once all these new dwellings under construction in Sydney, Melbourne and Brisbane come online and there won’t be anyone to rent them. It’s going to get messy,’ he says, predicting a bloodbath by 2017.”
“Property prices in Sydney have increased by 45% since 2012, while rents and wages are growing at their weakest rates in a decade. ‘That’s the smoking gun,’ he says. ‘Under any mathematical account, it’s a credit-fuelled housing bubble.’”
C-Span Live feed of Trump Tower lobby elevator bank.
https://www.c-span.org/video/?418879-1/watch-pool-feed-trump-tower-lobby&live
I have no idea who the “important people” are, but I guess it is interesting to some.
Have another narrative:
https://reason.com/archives/2016/11/20/america-called-bullshit-on-saint-hillary
#pizzagate and #spiritcooking: now THAT is a narrative!
Interesting that David Seaman, who was fired from HuffPo for reporting on $Hillary’s poor health is going after #pizzagate
https://twitter.com/d_seaman
http://www.realclearpolitics.com/video/2016/08/29/huffington_post_contributor_says_he_was_fired_for_posting_article_about_hillarys_health.html
You can tell who might be a potential cabinet choice, they look like swamp people.
so much for the drain idea…
I still find it fascinating how countries with:
Lower average incomes
No MID
No fixed rate, 30 year loans
No low/no down loans
Have bubbles that completely eclipse our own.
You won’t get far trying to apply logic to an illogical situation.
The Grade-A apartments in parts of Washington DC (city limits) will soon be getting competition from tiny houses. In September, DC modified its zoning codes to allow for backyard rentals:
————-
Previously, owners seeking to rent out the units were required to argue their cases before the Board of Zoning Adjustment (BZA) to receive an exception. Under the new rule, the structures will be permitted in some neighborhoods as a matter of right: Once homeowners acquire building permits from the Department of Consumer and Regulatory Affairs (DCRA), they will be free to build and then rent out the units.
..The tiny houses cannot be more than 35 percent of the gross floor area of the primary home…They must be adjacent to either a 24-foot-wide alley, or a 15-foot-wide alley and at most 300 feet from a main road for fire safety. And the principal dwelling must be owner-occupied.
https://www.washingtonpost.com/news/where-we-live/wp/2016/05/16/d-c-shift-could-make-tiny-houses-more-abundant/
——————
I wonder what a tiny house would rent for monthly (assuming it’s not rented out for AirBnB).
Does that include travel trailers?
Used 30 ft 10$k vs tiny stupid house for 35k
I haven’t looked up the codes, but my guess is no. The change only allows for ADUs (additional dwelling units) on the owner’s plot of land and does not seem to affect the building permitting process. So any building needs to pass whatever the DC building code is.
btw, the tiny houses you see on HGTV are costing upwards of $70-80K now. The original $35K house you’re thinking of was the original Tumbleweed, which IIRC did not have running water or a shower stall.
““The changes open the door for D.C. to become more like Portland, [Ore.],” said Brian Levy, owner of a “micro-home” and a longtime lobbyist for less-restrictive zoning rules for accessory dwellings.”
Comment by the spider monkey
2016-11-20 20:01:37
From Portland, Oregon.
Why Portland can’t fight gentrification with 387-square-foot condos
By Brad Schmidt | The Oregonian/OregonLive
November 19, 2016 at 7:01 AM
Portland may fail in its inaugural effort to provide homeownership opportunities to black residents displaced from gentrifying neighborhoods north of downtown.
The reason? Hardly anyone wants to live in the tiny, well-appointed condos that government leaders agreed to subsidize.
http://www.oregonlive.com/portland/index.ssf/2016/11/why_portland_cant_fight_gentri.html
Wow, thanks for posting. What a crock. Condos costing $160K, but limited to household incomes of $41K. That’s already unaffordable at 4x income, no matter how cheap it is compared to the rest of Portland.
And this is priceless:
But Cheryl Roberts, executive director of the African American Alliance for Homeownership, said it’s not surprising buyers have shown limited interest. Roberts pointed to her own experience as a black homeowner: after raising four children, her grandchildren are now frequent visitors.
I love how the trend of “micro housing” is looked at as an answer instead of a symptom of a problem. How pathetic are we that people, mainly millennials, find it appealing to live in 300-400 trailers with bunk beds and a tiny sink? I’m all for living within means, but I’m certainly not yearning for an overpriced camper to “live off the grid”
It is definitely a symptom of a problem.
An HBB poster would like a tiny house because you can have a professional job and live in a $60K house and stash away cash. Which is fine. But more likely, that tiny house resident will be a hipster Millenial who works the Gig Economy and the tiny house is all he can afford.
I don’t know about the Millennial.
300 to 400 ft2 boat for $10,000 to $20,000. Work a professional job. After pissing away a million or two previously, stash enough cash in less than a decade to live out retirement comfortably. I seriously think an older person sees more incentive to do this than the typical young person, as mortality and the desire to get off the merry-go-round isn’t bearing down on the younger so much.
I do not see a significant number of young people trying to be frugal on a champagne income.
I do not see a significant number of ANY people trying to be frugal on a champagne income.
Most of the champagne incomes are located in expensive cities. Your situation is rare: professional job, cheap boat, and sub $80K house. Most of us (myself included), had fewer options.
And, even if you (in general, not you specifically) could find a good professional job in a low-cost area, chances are your spouse/family would demand that you live comparably upper crust. For example, I saw this when I lived in the Midwest. Some co-workers were pulling $150K+, but they certainly didn’t stoop to live in a $95K 1980’s ranch. No sir, they lived in the brand-new fake-stucco McMansions up by the golf course.
ox, blue ill keep stressing most people we’ve seen in our cat sitting days can live in probably half the space they did 10 or maybe 5 years ago,
I feel like the micro house, use any space available, including backyards movement will just lead to the scenes from District 9
Yup. And it’s going to be even worse if they build a village of tiny houses at $80K each (~$400/month). The inconvenient truth is that the only non-discriminatory way to filter out riff-raff is to filter out by price, and tiny houses are priced to low to filter out the riff-raff. Once those hipsters move on and sell the house, low-income and semi-poverty will move in.
But don’t go saying that on any of the tiny house blogs. They will ignore you, or remind you that they like to “be positive.” Like the sno-flakes they are.
$80K tiny houses? Only for the helpless and clueless.
Oh, the land must be the expensive part…
Not sure if you are being sarcastic, but nope, that doesn’t include the land. Tiny houses have come a long way from hand-built shacks with a bucket shower and a gallon jug over the sink. There are still some of those, but now you can get granite countertops, small soaking tubs, cedar shingles, all-wood interiors, etc. Some are even tricked out as gypsy wgaons. This is what I’ve seen:
Lowest price you can find is $35-40K, for a bare-bones nearly empty tiny house made out of a shipping container.
$60-$70K is about average. These are either really nice 250-300 sq ft with a sleeping loft, or decent “park models.” Park models are like single-wides. Mobile but really only meant to be moved once and parked long-term.
The HGTV models are all custom and you can only find the price in the fine print. Some are upwards of $100K.
A half trailer of materials? The delivery cost is more than the sum of the materials. 2 wood butchers x 3 days=48 manhours x $20=A whopping $1000 labor and $3000 in materials.
Helpless, clueless and hopeless donkeys indeed.
Used tiny house,50% off
Day two
My neighbors will sell you one of these if you want to have a go at it.
http://www.woodtex.com/locations/ny/himrod/
The son’s girlfriend’s brother and a few helpers could put up any of these for about half the price.
“I have no choice” is willful self defeat.
Blue you’re right. Instead of building a tiny house from scratch, it’s probably better to buy a big garden shed from Home Cheapo and trick it out yourself. I think people have tried it so often that I’ve often seen the words “unfit for human habitation” on the shed websites — likely a disclaimer against liability.
As for me, sure, I suppose we all have choices. My choice was to live in an expensive area in exchange for a long-term secure well-paying job. Even if I found a professional job in a low-cost area, I don’t believe I can *keep* a job in a low-cost area. It’s a decision I made and I certainly don’t feel defeated.
A used house pimp put the bag on you. Get over it and get on with your life.
Governor Jerry Brown & the CA legislature have enacted a similar program for streamlined building of “granny flats”. It seems to be one way to address new affordable housing in CA.
http://sd10.senate.ca.gov/news/2016-09-27-gov-brown-signs-wieckowskis-accessory-dwelling-units-bill-provide-more-affordable
“Removing the most egregious obstacles to building these units will help to increase the supply of affordable housing in California and allow more people to remain in the communities they call home,” said Wieckowski, a member of the Senate’s Transportation and Housing Committee. “SB 1069 returns more power to homeowners and reins in some of the enormous fees and requirements levied by local agencies. Governor Brown’s action will lead to more housing, more jobs and shorter commutes.”
This will add to all the fugg’n RVs parked in driveways and on the street with their wheel chocks and extension cords.
Meanwhile, back in Dallas, things aren’t looking too good. Searching for a bailout.
When does this bailout crap end? It’s like the “everyone gets a prize there are no losers” mentality.
Seriously, though, bailouts are a really. bad. idea. No incentive to manage money wisely.
In 2007, I had the great “privilege” of coming into contact with one of the “investment” people for DP and F pension plan. He told me all these tales of the great real estate investments they had put money into. Oh my. I showed him all kinds of data but they didn’t want to hear it.
Now they’re insolvent due in large part to these “investment” decisions. Hat in hand asking the city and soon the state for a bailout (7B shortfall). One of the proposals was to raise the property taxes 130%.
I look forward to seeing this sh**t hole city crash and burn.
Good to see you again, txchick57.
If txchick57 is back we have really come full circle! Hard to believe it’s been ten years.
second that. welcome back
Never left… lurking.
Is Paul Krugman suffocating on his mustache?
Tom Friedman deserves to choke on his mustache.
Globalists gonna globe.
“Is Paul Krugman suffocating on his mustache?”
I see he stopped coloring his hair.
It’s more likely that green lawns would become a thing of the past in the Centennial state. Unlike what happened to the Anasazi Indians, water won’t completely run out, there will just be less of it. So green lawns will go the way of the dodo bird. Golf courses and parks will probably be watered with reclaimed sewage.
Wake up. They do this now in So Cal. And in NM green lawns are laughed at, better to go mountain biking than mow your lawn every weekend.
Orange County ca is toilet to tap.
Exactly. What you describe is already the norm in the California, but not yet in Colorado (which was the original topic yesterday), where everyone not only has a green lawn, but a thirsty blue grass lawn. We have been spared so far from the ravages of the drought, but that could change.
CO could learn from Santa Fe, NM. And small dirty cars are cool too.
Heh, the Blue Ridge Mountains, mainly in Western North Carolina, are having a horrible drought and wildfire season, which is busting their autumn leaf-peeping tourism all to heck.
This was “unexpected”, as the area is supposed to have more humidity in its climate and while they do have wildfires from time to time, it’s not all that common. In fact, much of the area is considered sub-tropical rainforest. This year, however, lots of dusty dry leaves add to the problem.
They, too, are now praying for snow like California.
Nor Cal is out of the drought. It is a big state. Ferns and moss in the north, cactus in the south.
Western NY is out of the drought. We now have a foot of snow.
With talks of colonizing Mars, getting water to the dry areas that grow food is not a big problem.
Isnt it illegal or against ordinance in LV to have a green front yard or be caught watering the yard? I think I’ve read about turf becoming a solution for some people’s backyards?>
Amazing that they can’t even find one clue in the murder of this young man.
http://www.fox5dc.com/news/218883023-story
I think he was snuffed.
Be funny if the Russians started arming the Standing Rock Sioux tribe that are fighting the construction of an oil pipeline in North Dakota. Hilarious, actually. Maybe they could get some help from, I dont know, some Syrian refugees by way of Canada?
http://www.zerohedge.com/news/2016-11-21/it-feels-warzone-400-north-dakota-pipeline-protesters-clash-police-167-injured
Perhaps Soros could personally lead his minions into battle on horseback against Vlad. After Soros is defeated and killed, the history books could call it “The Battle of Iron Knee”.
Watched some of Sharyl Attkisson’s Full Measure yesterday, Border Patrol agents making a years salary in one night letting in human and other cargo.
Corruption on the Border
by sattkisson on November 17, 2016
Surveillance video shows Customs and Border Protection officers on the take—corrupted by drug cartels and human traffickers.
https://sharylattkisson.com/corruption-on-the-border/
yep, that is why the $25 billion wall will not work.
people sneak guns into prisons with armed guards and towers.
How is the new TV?
t
not hooked up yet! I’ll get to it on Wed.
I haven’t started season 6 of Walking Dead yet.
I have a Samsung, you may or may not know this.
How to Turn Off the ‘Soap Opera Effect’ on Your New TV
David PogueYahoo Tech•July 23, 2015
On Samsung TVs, it’s Auto Motion Plus.
https://www.yahoo.com/tech/turn-off-the-soap-opera-effect-on-your-new-tv-124837660749.html
What Is the Soap Opera Effect (and How to Make It Go Away)
By: Adrienne Maxwell, January 12, 2015
http://hometheaterreview.com/what-is-soap-opera-effect-and-how-to-make-it-go-away/
The fish rots from the head first. Crooked Hillary set the standard for corruption, while the DoJ and FBI turned a blind eye. Hardly surprising that the culture of corruption which is endemic to the Democrat Party has spread to lower-level officials.
Or was it Nixon or Cheney?
Excuse my ignorance but what is the main mix of Sydney/AU economy? Are they just a financial processor/paper shuffler?
It is the financial capital of the country, so banks and investment firms are located there. Probably the capital for media as well. Theres a number of universities. Its a small country population wise, so the scale of commerce is less than that of clownifornia. Up until a few years ago China was buying everything they could dig up, so mining companies were profiting and I imagine a fair number of them are headquartered there, but I didnt notice them last time I was there (spring time).
“I wouldn’t have dreamed the crisis would get this intense, half a dozen years later,” Robertson told the Guardian in an interview at Vancouver’s city hall. “We’re dealing with global capital, national governments underinvesting in housing and provincial governments not doing enough. That leaves the cities dealing with chaos on our streets and people struggling to find a place to live.”
https://www.theguardian.com/world/2016/nov/21/vancouver-mayor-gregor-robertson-interview-housing-crisis
Bubble definitely popped here in God’s country (DFW). Dumbass flipper in my neighborhood has asking price down $168K from original listing of $667K. On the market 6 months now. This area has been white hot for 2 years now. I chased dozens of realtors and wannabe flippers away from my house last year and the year before.
About time!
+1
Why do you care if people lose money?
FWIW… I don’t.
10yr 2.34%
another 17 points and morts hit 4.5% = death comm
Push!
“Don’t worry about that. Money is so cheap now” says the Realtor, who has zero financial training.
Realturds - one day you are getting sales training at Payless Shoes, the next you make sure you have water in your car as you open front doors for sheeple, and point to the ceiling fan. 6%
Too late now to dump your bonds?
http://www.businessinsider.com/deutsche-bank-note-on-bond-fund-outflows-2016-11
The Bubble - SNL
https://www.youtube.com/watch?v=vKOb-kmOgpI
“We don’t see color here, but we celebrate it”
1 bedroom apartments start at $1.9 million
have u people noticed how many people said trump would be terrible for stocks changed their tune as soon as he was elected? Now they say he is great. It is so comical.
The MSM was saying and doing everything in their power to get HRC elected.
What can we say to scare people? Oh, that the stock market will crash under Trump?
OK, let’s find someone who will say that, and write an article about it.
Journalism!
Silicon Valley scrambles for a seat at Trump’s table
Silly Valley is scrambling for the toilet seat.
This guy did an excellent analysis of what the tech unicorns are now going to have to deal with, and it doesn’t look good:
https://markstcyr.com/
“Silicon Valley has a problem, a very big problem. And it’s not rooted in just the geographic location. Everything (and I do mean everything) that was once assumed “a given” or, “totally worth it” or, the more memorable “it’s different this time” rationales as it pertained to startups, social media, valuations, user metrics, IPOs, unicorns, etc., etc. Is about to be piled onto the ever burgeoning trash-bin of history. Right atop 2016’s polling data. For if this election proved one thing – it was this:
This is what happens when one assumes they’re breathing rarefied air – only to find they’ve been doing nothing more than inhaling their own exhaust fumes.
Now if you think I’m going to speak about the election results? You’d be wrong. That’s for others to discuss. No, what I have been watching is far more fascinating.”
I’ve been watching the results of this arrogance unfold in the e-commerce area. And as it turns out, it isn’t just the third party merchants who are getting hosed, it’s the shoppers as well:
http://miami.cbslocal.com/2016/11/14/secrets-of-online-shopping-discrimination/
number of links to Zerohedge - disregard
Using safari browser can cost you 10% or more. LOL.
How’s the SpiritCooking going, mikey? Makes yer putter flutter, don’t it?
Flaming SF’s favorite VIP Janet to be show the door Q1 2017.
Buh bye Janet and hello rising borrowing rates!
The nation’s largest senior housing provider has laid off about 100 workers as part of an effort to cut costs and reorganize.
http://seniorhousingnews.com/2016/11/20/brookdale-lays-off-100-workers-as-cost-cutting-proceeds/
John Tierney has a very long rant in City Journal that every liberal should be forced to read.
https://lionoftheblogosphere.wordpress.com/2016/11/21/the-real-war-on-science/
FROM THE MAGAZINE
The Real War on Science
The Left has done far more than the Right to set back progress.
John Tierney
Autumn 2016
For his part, Holdren has served for the past eight years as the science advisor to President Obama, a position from which he laments that Americans don’t take his warnings on climate change seriously. He doesn’t seem to realize that public skepticism has a lot to do with the dismal track record of himself and his fellow environmentalists. There’s always an apocalypse requiring the expansion of state power. The visions of global famine were followed by more failed predictions, such as an “age of scarcity” due to vanishing supplies of energy and natural resources and epidemics of cancer and infertility caused by synthetic chemicals. In a 1976 book, The Genesis Strategy, the climatologist Stephen Schneider advocated a new fourth branch of the federal government (with experts like himself serving 20-year terms) to deal with the imminent crisis of global cooling. He later switched to become a leader in the global-warming debate.
Follow the money. There’s always an agenda and vested financial interests.
The fossil fuel industry has more money than any other party involved.
Actually Mike, the government controls more funds than any party involved.
Yes, but industry lobbies the government.
Yup. Like Dow Chemical, with expiring Freon patents. The newest, patented Freon is always greener! What a coincidence.
And who do you think is behind all of these pipeline protests? None other then the Oracle of Omaha, because it threatens his railroad business. Done in a Soros-like fashion, of course.
As one ZH commenter noted, he called them together, and they went, thinking they were going to discuss access, and instead, he lit ‘em up good.
Well played, sir. Biggest. Liars. Ever. Not just about politics, but about everything. Must’ve been quite a shock, because the media are used to politicians handling them with kid gloves. That’s my prez!
http://www.zerohedge.com/news/2016-11-21/trump-exploded-media-execs-during-record-meeting-it-was-f-king-firing-squad
This guy pinned the media:
“The Clinton campaign believed until 9 o’clock, they were going to win”
https://www.youtube.com/watch?v=nbjPJsqvLjo
Devastating.
Clinton Crybabies! Funniest Compilation
https://www.youtube.com/watch?v=Avi0H5T7rrE
The guy saying he was gonna move back to El Salvador was funny. It’s going to take years to see all of these.
“Clinton Crybabies! Funniest Compilation”
I am particularly fond of the look on the hot girls face as she watches the green haired Lefty Loon lose it at 1:50 of the video.
Of course 4:24s “might as well just pack up my sh#t and go to fuqing El Salvador” was a close second.
5:05 had me on the floor the first time, but that was 50 views ago explaining her weak finish in the rankings.
This guy. My favorite.
https://www.youtube.com/watch?v=xNbF9PI9Gjo
Here’s another one from Henry Davis. Guy cracks me up.
https://www.youtube.com/watch?v=Sl5efai8_yg
The coughing fit in the middle put the cherry on the top!
I admit I’ve been watching some of the SJW meltdowns.
What I find rather disturbing is that many videos on blogs/twitter/youtube are single-person selfie videos, not someone *else* taking video *of* them.
So, how did this stuff get posted? Are people really posting their own videos, showing themselves in that condition? They can grieve if they must, but why be so public about it? Is it part of the participation-trophy culture?
heh. the housing is an investment religion is as reliable as the hillary presidency religion.
I don’t see any of the names from PBS. Maybe they escaped the Wrath of Trump?
HRC supported the Bush Wars, enough to keep her war machine out of the white house.
drain the swamp!
But you voted for her.
You were one of her minions, New Attitude. Serfdom suits you.
I voted for legal weed and Jill.
drain the swamp!
You can’t make an omelette without breaking eggs !
i want to see crushing losses!
U peons new to submit to janet yellen and buy overpriced sh@t! U have been fighting her for 8 years. she has you by the balls!
She will start printing like crazy buying anything to keep prices high and bankers solvent.
Raise your white flag and extend an olive branch to your masters!
I never heard Trump mention anything about a “fiscal stimulus” when he was running for office. And nobody is talking about the out-of-control national debt.
Crooked Hillary assumed blacks would turn out en mass to vote for her instead of Trump. But eight years of hope n’ change has finally opened some black voters’ eyes to the reality that the Democrats are run by and for a corrupt and venal .1% in the financial sector. And the DNC doesn’t give a damn about them or their concerns.
https://www.yahoo.com/news/milwaukee-hard-pressed-black-voters-dumped-clinton-221227365.html
http://www.cnbc.com/2016/11/11/why-hillary-clinton-couldnt-rally-the-black-vote-commentary.html
It didn’t take very many folks like this gentleman to turn the election.
Hope and change.
Yes, yes. Getting kicked out of your house + neighborhood so the white SJWs can bulldoze it, and replace it with coffee shops and specialty grocery stores. Then they sip their lattes and try to figure out what gender they are.
How do they afford it? Why cant you?
DHS shuts down aerial surveillance on border
By Kenric Ward / November 18, 2016
The U.S. Department of Homeland Security quietly shut down Operation Phalanx, an aerial surveillance program that intercepts drugs and illegal crossings along the Mexican border.
Rep. Henry Cuellar, D-Laredo, vows to challenge DHS’s move, saying Congress provided “full funding” for 2017.
Cuellar, a member of the House Appropriations Committee and the Homeland Security Subcommittee, is drafting a letter to DHS Secretary Jeh Johnson protesting the shutdown.
http://watchdog.org/282195/border-surveillance-shut-down/
Obama’s crappin’ the floor
On his way out the door.
I guess they want to get everyone in they can before you know who takes office.
And they still wonder why they lost.
“Activists” petition Mayor Bob Buckhorn for Tampa to be designated a “sanctuary” city.
http://www.tampabay.com/news/localgovernment/activists-request-tampa-be-named-a-sanctuary-city/2303615
Sanctuary for whom? I saw a clip about this on the local news, with an anchor baby pleading that her parents work so hard and she’s so scared. One thing I noticed was that she had a mouth full of very expensive orthodontia. Quite impressive, actually. Very shiny. Who paid for it? My guess is the taxpayers did. Sanctuary much.
My parents worked pretty hard, too, back in the day. But they couldn’t afford braces for my sister, who to this day bitchez about the small gap in her front teeth.
The mayor of Vancouver says housing is a human right.
https://www.theguardian.com/world/2016/nov/21/vancouver-mayor-gregor-robertson-interview-housing-crisis
“His first campaign during the Vancouver mayoral election hinged on a deceptively simple idea: housing is a human right.”
“At the heart of the issue lies a fundamental question over whether housing should be treated as a right or simply seen as an unregulated commodity, said Robertson.”
Well, maybe they shouldn’t have sold all their housing to the Chinese, who don’t even live in them anyway.
Shelter (housing) is a basic need. That our politicians handed it over to Wall street is an unforgivable crime. Social Security is likely next in the queue.
crushing.rental.housing.losses.
I met a guy from the bay area saturday who said his 1200 sq ft shack was appraised at 1.3 million. Holy sh@t, he is a millionaire!
Remember my friend…… You can ask $50k for your 10 year old Honda Civic but where is the buyer at that price?
So it is with all depreciating assets like houses.
http://www.miamiherald.com/news/nation-world/national/article116118398.html
“No person holding any office of profit or trust under the United States shall, without the consent of the Congress, accept of any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state.”
Are you referring to the Clintons and their foundation, perhaps?
Meanwhile, the Democrat-on-Arrival illegals just keep flooding in. Our permanent Demcrat supermajority will be a fait accompli by 2020, and then the DNC can select candidates even more corrupt than Hillary (if that’s possible) and still be assured of winning. Forward!
http://www.mrctv.org/blog/1500-day-border-patrol-opens-temp-facility-accommodate-border-surge
Is “repatriated” overseas trillions going to be used for corporate buy-backs instead of productive capital?
http://wolfstreet.com/2016/11/21/will-trumps-financial-engineering-loophole-make-stocks-rally-and-bonds-crash/
Sanctimonious progressives who lecture Pence and Trump from their Broadway stage should maybe clean up their own act first.
http://www.irishcentral.com/opinion/niallodowd/hamilton-star-tweeted-about-blacks-and-drunk-women-on-st-patrick-s-day
Isn’t globalism grand?
https://www.theguardian.com/global-development/2016/nov/21/samsung-panasonic-accused-over-supply-chain-labour-abuses-malaysia
What If Trump Wanted More Illegal Immigration? Wait, He’s On It!
Nov 22, 2016 7:00 AM EST
By Tyler Cowen
Imagine that a new U.S. president, different from the one we just elected, set out to maximize the number of illegal Mexican immigrants. Maybe he or she saw electoral advantage in this, or maybe just thought it was the right thing to do. But how to achieve that end? Imagine also that I was called into the Oval Office to give advice.
I would start by recommending an enormous new program of fiscal stimulus and construction. Let’s rebuild our roads, bridges and power grids, and put up some new infrastructure as well, including perhaps an unfinished border wall. That will require a lot of labor, and Mexican labor, including that of the illegal variety, is common in the construction business. The financial crisis, and the resulting freeze-up in the housing market, was a major reason why Mexican migration to the United States went into reverse, so a new building program might counteract that trend.
But wait, that’s not enough. When state and local governments hire people to perform labor, they insist on some pretty serious documentation of legal employment status. The federal government does the same. So the stimulus plan will have to be designed to evade such enforcement possibilities.
How? Well, profit-seeking private contractors are less concerned with the legal status of their workers, provided they have some kind of plausible deniability. They’ll sometimes hire illegal immigrants on the basis of falsified papers, or seek out contractors who don’t even ask for documentation. In other words, we’ll have to run the stimulus program through private contractors to get the maximum inflow.
By the way, infrastructure programs will help illegals in other ways, more than would citizen-focused Social Security or Medicare benefits, for example. Illegal immigrants use roads and mass transit and electricity and other forms of infrastructure all the time. And they won’t suffer much if subsidies for health insurance under Obamacare are reallocated to construction because it was so hard for them to get those subsidies in the first place.
Fiscal stimulus, however, is not enough. Why not try to wreck the Mexican economy by developing an adversarial relationship? Let’s criticize or even humiliate some national leaders. Then we could renegotiate the North American Free Trade Agreement, or at least threaten to do so, to scare away foreign investment from Mexico and lower jobs and wages there. Many more Mexicans then would probably cross the border to work illegally in the U.S.
https://www.bloomberg.com/view/articles/2016-11-22/what-if-trump-wanted-more-illegal-immigration-wait-he-s-on-it
San Fran Home Sales Crash To Lowest Level Since 2008 As Pricing Reset Gets Underway
http://www.zerohedge.com/news/2016-11-18/san-fran-home-sales-crash-lowest-level-2008-distressed-property-sales-fall-36-yoy
Trump Aide Suggests He’ll Drop Pledge to Investigate Clinton
November 22, 2016 — 6:30 AM MST
Donald Trump won’t follow through on his promise to appoint a special prosecutor to dig into Hillary Clinton’s use of a private e-mail server as secretary of state, a top aide to the president-elect suggested Tuesday.
Appearing on MSNBC, Kellyanne Conway didn’t dispute the channel’s report, citing an unidentified source, that Trump wouldn’t pursue probes into Clinton’s e-mail or foundation.
When the president-elect, as head of the party, “tells you before he’s even inaugurated he doesn’t wish to pursue these charges, it sends a very strong message, tone and content, to the members,” Conway said when asked if Trump would call off Republican lawmakers.
Conway, who managed Trump’s White House bid, said his focus had shifted from the rhetoric of the campaign trail.
“I think Hillary Clinton still has to face the fact that a majority of Americans don’t find her to be honest or trustworthy, but if Donald Trump can help her heal then perhaps that’s a good thing,” Conway said. “I think he’s thinking of many different things as he prepares to become the president of the United States, and things that sound like the campaign aren’t among them.”
http://www.bloomberg.com/politics/articles/2016-11-22/trump-aide-suggests-he-ll-drop-pledge-to-investigate-clinton
My guess?
To put obama on the spot for a pardon for Clinton.
Obama would need to explain why is he is pardoning a sick and twisted democrat when there were no charges coming anyways…
Not a good legacy.
Once obama is gone and the massive obama corruption machine has been partially dismantled - then go after the witch.
This is based on an anonymous “source” and reported by the fake news outlet (more of an opinion outlet, actually) Morning Joe. I take it with a whole shaker of salt. Figures it would be posted by the wet blanket whose specialty is demoralization, lol.
I don’t know why anyone gives any credence to Morning Joe. It’s just another viewpoint show, a bunch of windbags sitting around blatting out their opinions and enjoying the smell of their own farts. Haven’t we had enuf of this stuff?
I know you watch Saturday Night Live Mighty but I didn’t see you comment on this once in 30 year skit.
https://www.youtube.com/watch?v=vKOb-kmOgpI
Loved it! I guess SNL isn’t completely lost yet
Trump Says He Will Issue Executive Order On First Day In Office Withdrawing U.S. From TPP
http://www.zerohedge.com/news/2016-11-21/trump-says-he-will-issue-executive-order-first-day-office-withdrawing-us-tpp
Next Up- NAFTA
Sure would be nice if people posted comments on here that were topical instead of inane political hyperbole.
How old are you?
https://www.youtube.com/watch?v=RGvrmltfMrA
I’m 43. Not a millennial. Just a guy who wants to read about real estate on a real estate blog and not have to scroll through a bunch of off-topic posts to find the ones that have topical information.
Oh, that’s unfortunate.
Amen thank you. 8 years ago this blog was invaluable now it’s a former shell of itself because everything gets hijacked to politics. Ben needs to get back to basics and discourage the off topic crap. There are a million political forums and one housing bubble blog. You politards can peddle that crap on those and let this site be authentic.
No one is stopping you from adding your scintillating insight to any of the housing-related comments. May I direct you to the discussion regarding zoning changes which will allow tiny housing into residential backyards? Simply scroll up.
I’m doing just fine, thanks. $250k per year in the Midwest and saving approximately $4,000 per month (not including bonus) while maxing out my 401k. No need for a tiny house.
Good for you, you’re kicking @ss.
If you didn’t say you were 43 I would have thought you were a rookie on an NFL practice squad with those numbers.
Still, you are in a bad mood because it doesn’t take much to skip the OT posts.
Hillary voter?