A Stampede Of Flippers Got Overconfident
A report from the Arizona Republic. “The commercial real-estate industry remains in an expansion cycle, helped by a steady economy and few signs of overbuilding. Rising interest rates are a concern, but few other signs are flashing warnings, said Calvin Schnure, senior economist for the National Association of Real Estate Investment Trusts during a talk in Phoenix last week. Two critical signs that have pointed to past recessions aren’t visible currently, Schnure said. One is an overheated economy in which inflation is rising. The other is overproduction in buildings, automobiles and other key manufacturing measures. ‘We’re still a long way from having overbuilt anything in the economy,’ he said.”
The Columbia Missourian. “Developers seeking to build apartment complexes downtown will have to keep waiting. The Columbia City Council extended its moratorium Monday on new downtown residential housing. The joint university and city survey represents data from 4,414, or 16.5 percent, of the city’s total registered rental units. The survey found an average vacancy rate of 9.78 percent among all participants, and a vacancy rate of downtown and off-campus units of 7.07 percent and 12.79 percent, respectively.”
“Both surveys and the report to council come at the concern of a potential student housing bubble in Columbia.”
The Pittsburgh Post Gazette in Pennsylvania. “Since the end of the recession six years ago, the rental market has been red hot in the city’s East End communities. A stampede of real estate flippers rushed in to buy and renovate old buildings. Developers also built one apartment building after another in anticipation of more demand from young professionals who prefer upscale living. But there are signs that rental rates in the East End have begun to cool off.”
“‘We have property owners in Lawrenceville who are renting their apartments for less this year than last year and wondering why,’ said Steven Welles, owner of Ikos, an East Liberty-based company that finds tenants for landlords. The company’s clients range from landlords with only one unit to those with 300 units. Some clients haven’t been able to find renters at all, Mr. Welles said, adding that many people got overconfident about how much they could extract from the market.”
“John Petrack, executive vice president of the Realtors Association of Metro Pittsburgh, said permits have been issued for about 5,600 new and rehabbed apartment units in the Pittsburgh area in the past five years and only about 60 percent have been absorbed by the market so far. ‘Especially in the high-end apartments,’ he said. ‘The market has been saturated. The market got strong and everybody ran out and said, ‘Hey let’s develop high-end apartment units,’ he said. ‘And the market got saturated. Now in the high-end market places there is an oversupply. Developers will have to make a decision.’”
From Syracuse Post Standard in New York. “Syracuse has suddenly become a magnet for developers of expensive student apartments loaded with amenities. Four off-campus, student apartment buildings with a capacity for 690 tenants have been built in the city by private developers in the past couple of years. Four more, with a total capacity for 2,024 tenants, are under construction or have been proposed. That has city officials and a University Hill planning and development organization worried that the student housing market in Syracuse could quickly become saturated, leading to a rise in vacancy rates in the neighborhoods surrounding Syracuse University.”
“They don’t come cheap, at least not by Syracuse standards. Rents average around $1,000 to $1,200 a month — per bedroom. (In contrast, rents in apartment homes in the university area typically range from $500 to $600 a month per bedroom.) David Mankiewicz, president of the University Hill Corp., said national firms that specialize in building and managing student apartment projects have already filled up larger markets — those with 50,000 or more students — and are just now focusing on second-tier markets like Syracuse.”
“He said the organization now worries that the construction of lots more off-campus housing could hurt the residential neighborhoods surrounding Syracuse University. ‘We’re fine with the idea there would be some movement of students, but if you have this cataclysmic move, you could see vacant, boarded up homes,’ he said.”
The Voice of San Diego in California. “National City is trying to make it as easy as possible to build downtown, but developers are still hesitant. Now National City is trying to up the incentives for new development even more. Nancy Estolano, a business owner who owns property in downtown National City, said she’s been having trouble selling and leasing her properties. One property took her months to rent out and she still hasn’t been able to sell another that could be developed into a high-rise.”
“‘Nothing is here to support the rents for high-rises,’ Estolano said. Part of the problem, she said, is that there are vacant lots everywhere. If a developer built something on her property, ‘there are two empty buildings across the street.’”
‘national firms that specialize in building and managing student apartment projects have already filled up larger markets — those with 50,000 or more students — and are just now focusing on second-tier markets like Syracuse’
This is what’s been happening with the luxury apartment bubble too. Fill up the cities and spread out to little burgs in places like Wichita Kansas.
‘Building permits issued by the city of Houston have dropped 27 percent from the same time last year and 14 percent year-to-date. Both residential and commercial construction has experienced the dip. The value of non-residential building permits fell 26 percent in October, compared to the same time last year. Residential permits fell 29 percent, during the same time period.’
‘However, permits for single-family homes rose 8.6 percent from October last year to last month. Multifamily permits dropped 69 percent in the same time period.’
But the industry is still telling us there’s a shortage of construction workers.
“if you have this cataclysmic move, you could see vacant, boarded up homes”
Cheap easy credit leaves a wide trail of destruction.
‘We’re still a long way from having overbuilt anything in the economy’
This article mentions a lot of apartments are being built in Phoenix. Thousands. Recently I posted an article mentioning Phoenix senior complexes are going up like crazy and the majority were aimed at the the top 5% of incomes.
I can see it now . . . Section 8 housing, now with granite countertops!
The private sector affordable housing plan. Financed by taxpayer bailouts of developer lenders.
That’s what I’m afraid of too, redmond. The leftover units go to the poor using government money, while people like me have to pay with earned money. And the seniors avoid the apts altogether and go live on the golf course.
Sounds like you all prefer to be poor.
People live a lot longer these day, then there are the boomers. follow the boomers
“Since the end of the recession six years ago,”
No need to read any further.
OT but
I don’t remember seeing any Humpback whales from Tod’s Point Point.
Humpback whales spotted off New York City
By Jim Shay Updated 7:25 am, Tuesday, November 22, 2016
The U.S. Coast Guard is giving a heads up to mariners in New York Harbor and the Hudson River: “Thar she blows!”
The whale sightings do not come a surprise. In the last two summers, whales have been spotted in Long Island Sound and are believed to have migrated to the waters around New York City. In late July, humpback whales were spotted in Long Island Sound, following schools of menhaden fish. The whales were sighted on at least three occasions this week along the Connecticut coastline from Norwalk to Greenwich.
http://www.newstimes.com/local/article/Humpback-whales-spotted-off-New-York-City-10629737.php
Heh, and I never saw a seal the during all the summers I spent time on the Cape, into the 1980s. Now, the Cape’s Atlantic shoreline is lousy with seals. And the more there are, the less cute and charming people find them. For one thing, they have a most unpleasant stench. For another, they consume tons of fish and the fisherman are having a hard time of it. And they attract sharks like mad, so people can’t enjoy the water like they used to. Sharks are even getting into the inlets.
OTOH, if we go into another ice age, all bets are off and seals might become quite welcome.
Hmmm
Stench and sharks, that can’t be good for property values.
the 3% accelerator clause in com re contracts has beaten appreciation rate here for 15 years
mort rates 30 yr
4=stall
4.5 = dive
5% = submerge
Woohoo, Super Home Sales records!!
More and more Americans piled into 30 yr loans @ historic low rates to become loan owners in the month of October. All is well, recovery accelerate! A “stable job market” has been the factor, of course, stable is a subjective term when you exclude manufacturing job losses negated by bartenders and wait staff…
Existing Home Sales Surge To Feb 2007 Highs Before Yuuge Spike In Mortgage Rates
http://www.zerohedge.com/news/2016-11-22/existing-home-sales-surge-feb-2007-highs-yuuge-spike-mortgage-rates
We’ve heard this story before. More fake news?
‘Housing starts in the United States spiked 25.5% to 1.32 million, marking the fastest jump since August 2007, the Commerce Department reported on Thursday (Nov. 17). The increase from September was the largest since July 1982. Multifamily-home building rose an impressive 68.8%.’
I was out west of Phoenix yesterday. They are getting ready to build thousands upon thousands of houses.
Recall, however, that historically 1 million homes was a recession year for housing, 1.5 million was average, and 2 million was a big year.
Having all those 2 million-plus years wasn’t sustainable. Having all those 1 million or less years isn’t either.
Unless there is massive subdivision legalized, and new units created within existing excess-sized buildings.
“I was out west of Phoenix yesterday. They are getting ready to build thousands upon thousands of houses.”
They must have discovered more water.
Let’s take a moment to thank Team Obama for this amazing turn-a-round!
lol
Obama may be the first president since Hoover to not see real economic growth of more than 3% at least once in his tenure…and he had 8 years, AND he had a recovery out of a recession that usually gives a nice growth pop off the bottom.
How fast would the turnaround have been if:
1. Team Obama didn’t cripple the American household by completely screwing up the healthcare market?
2. Team Obama didn’t dump 100,000 pages of regulations on the financial sector immediately after a financial sector meltdown?
Let’s thank Team America for trudging forward in recovery despite the gale-force headwinds provided by Team Obama.
The plan was very simple. Foam the runway for the banks. Provide a wealth effect via houses and stocks. It didn’t work. See California: the poorest state in the country.
I was reading about a communist economy’s conversion to capitalism. The article lauded the destruction of ‘ponderous, corrupt, inefficient companies which couldn’t survive without government support.’ I thought, that sounds like a description of the financial sector here.
Note the abandonment of moral hazard discussion by the, well practically every body.
It didn’t work.
What do you mean, Ben??!? It’s worked great—for the banks, it’s intended beneficiaries.
CA has a $2.8 billion surplus this year. Who is 49th and their score?
All my friends are happy and buying stuff–team America!
How fast would the turnaround have been if:
1. Team Obama didn’t cripple the American household by completely screwing up the healthcare market?
I doubt that it would have made much difference. Obamacare probably reduced healthcare inflation while also reducing the number of uninsured by 40%
‘reduced healthcare inflation’
Heh.
2. Team Obama didn’t dump 100,000 pages of regulations on the financial sector immediately after a financial sector meltdown?
Wasn’t Glass-Steagall only something like 20pgs? Would have been far simpler just to reverse it’s repeal.
And then there is the Too Big To Fail — Too Big To Exist bill…four pages long!
The problem with the ACA and Dodd Frank were two fold:
1. The laws were extraordinarily complex (lots of varying provisions); and
2. The laws took a LONG time to fully enact. In the case of Dodd Frank, many years to actually write the laws. With such a long period of time, the uncertainty in the business community was long-lived. And uncertainty is bad if you are trying to make hiring and investment decisions.
Who’s on watch? Score this one to O.
‘One property took her months to rent out and she still hasn’t been able to sell another that could be developed into a high-rise. ‘Nothing is here to support the rents for high-rises,’ Estolano said.’
You could lower your price Nancy.
What??? And give it away?
That is peddling fiction right there…
Remember when Rio and others would tell us over and over how the GOP was going away?
‘Still sifting through the wreckage of the Nov. 8 election, Democratic leaders nationwide are struggling to find a new message to claw back support and avoid years in the political wilderness. Not only do Republicans control the White House and both the U.S. Senate and the House of Representatives, they now hold 33 governor’s offices.’
‘New England, long considered reliably Democratic, is a prime example of the party’s demise. Republican Phil Scott won in Vermont over Democrat Sue Minter who was criticized, like presidential nominee Hillary Clinton, for failing to develop an economic message that resonated with voters worried about good-paying jobs.’
“We lost the governorship of freaking Vermont,” lamented Washington-based Democratic strategist Chris Kofinis. “We didn’t just lose an election. This was a national rebuke. This was biblical.”
I love the panic and fear.
The reality is that elections are won and lost by a few percentage points just about every time.
Did the Democrats get smoked this time? Sure. And they got worked in lots of places that they historically have won. But the GOP should not be complacent–if they take this majority and screw it up, the victory will be short-lived, as those swing voters swing back.
All that said, after 8 years of more and more regulation and taxes, I’m looking forward to a little swing back.
So much for that permanent Democratic super majority stuff. The truth is these parties are constantly evolving. Groups/ideas get purged, reborn, mutate. I keep going back to the guy who said both parties used to have liberal/conservative factions and grid-lock came when they settled into dogma. And in my opinion when the establishment(s) coalesced around globalism. We need opposition on all things.
Opposition of ideas, yes. The strategy of getting everyone in the country hating everyone else didn’t work out very well.
And without illegals + “dead” people voting and voting machine “glitches” It would have been even worse. But the ((media)) will never report all the voting fraud. They didnt even want to report much on the bus driver that killed those kids in Tennessee. Name was Johnthony - and thats not a typo. Colin Flaherty has a great youtube channel exposing the media coverups that occur on a daily basis
https://www.youtube.com/watch?v=YekVxuKtmy8
And of course ((youtube)) tries to suppress anyone reporting the truth so truth tellers like Colin and Tommy Sotomayor have to keep creating new channels and moving their content around.
“Remember when Rio and others would tell us over and over how the GOP was going away?”
Frankly, it should have gone away and it might, yet, unless it purges itself of the neocons. Bush almost consigned it to the dustbin of history. It was just dumb luck that what followed was worse.
I hope we have a new movement afoot, a bi-partisan group dedicated to eliminating the destructive, expansionist policies of decades. I was encouraged to see that Trump received Tulsi Gabbard yesterday.
“I hope we have a new movement afoot, a bi-partisan group dedicated to eliminating the destructive, expansionist policies of decades.”
THIS !!!!!
My Fakebook is full of Bernouts and Hillbots who have nothing to say about The Donald except how racist he and all of his deplorable supporters are.
I’ve never heard any of them mention globalism once, not one time.
I bet none of them have heard of pizzagate either.
Sheeple!
FWIW, their talk of tolerance and racism *is* their form of globalism. They want to take in the whole world because we’re all such a global family, y’all. Back in the day that used to be called an “invasion.”
Lola wouldn’t even post a picture of the Brazilian slums to substantiate his claim of living in Brazil. Pathetic.
I just thank jeebus he didn’t post a picture of his Brazilian wax.
At this very moment Lola is having a meltdown.
The Democrats are incapable of being anything other than what they are: a corrupt party based on buying votes with patronage and graft. They will go on being exactly who and what they are: corrupt.
Broward home sales slide in October, but prices are still rising: realtors report
Broward’s realtors association feels a seller’s market is coming in 2017
November 21, 2016 05:30PM
http://therealdeal.com/miami/2016/11/21/broward-home-sales-slide-in-october-but-prices-are-still-rising-realtors-report/
Dallas stares down a Texas-size threat of bankruptcy
http://nytimes.com/2016/11/21/business/dealbook/dallas-pension-debt-threat-of-bankruptcy.html
Wow, u mean this stuff also happens in places that AREN’T run by Democrats?! lol
I wonder how many hidden pension fund time bombs are out there…
“I wonder how many hidden pension fund time bombs are out there…”
How many places have pension funds? That is the precise number of pension fund time bombs.
You nailed it, RW—I was about to answer “ALL OF THEM!” when I saw that you already had, in subtler terms.
I believe the mayor of Dallas is a Democrat. But he didn’t start the fire.
Dallas: A Blue City in a Red State
‘Despite being in a vastly Republican state, Dallas County has been primarily Democrat for almost 10 years.’
“Dallas County started turning Democrat in 2006,” said Wade Emmert, chairman of the Dallas County Republican Party. “That was the midterm of President Bush’s second term. Historically, the party in office during a second term presidency does worse in national and local races. That was certainly the case in Dallas.”
‘A contributing factor to Dallas being chiefly Democrat are the demographics. Today, Dallas is primarily Democrat due to the growing African American population that votes overwhelmingly Democrat.’
‘Republicans and Democrats differ in the way that they vote, which also contributes to why Dallas is exceedingly Democrat.’
“Dallas Democrats tend to vote overwhelmingly straight ticket, meaning they vote for every Democrat on the ballot, regardless,” said Cal Jillson, professor of political science at SMU. “They do so more than Republicans do, and helps them in down ballot races.”
http://www.smudailycampus.com/news/dallas-a-blue-city-in-a-red-state
Uh, read the article. Dallas itself has very little control over pension legislation, that’s all controlled by the state government. Which is decidedly Republican.
I’ve read and posted a lot about this pension. It had a board that wasted the money on real estate investments. Stuff like raw land in Arizona. I bet they saw these yahoos coming from Pecos. And they paid themselves well I believe.
Right, my point is that it’s happened in a Republican-controlled enivronment where the pension legislation is actually written.
Liberace!
It’s a hellhole here. Why am I here? DH works here. I’d like to see the city nuked
LOL!! How do you _really_ feel, txchick??
neo-cons love to spend money they dont have.
Here is a hint.
It is kinda like deep blue Philadelphia in deep red “the rest of” Pennsylvania…
Except for Scranton. They, like Philly, have been run by democrats and public union goons for the last 50 years.
And they are both beyond bankrupt and have sky high taxes…
And they both expect the state to bail them out of 50 years of buying the public union goon votes. They don’t come cheap.
And if they don’t - they are bitter clinger racists.
And it’s for the children…
Family of slain SAPD officer says Donald Trump called to offer condolences
BY NEWS 4 SAN ANTONIO TUESDAY, NOVEMBER 22ND 2016
SAN ANTONIO — The family of slain San Antonio Police Department Detective Benjamin Marconi says President-Elect Donald Trump contacted them Monday to offer his condolences.
Annie Patterson Campos, who identifies herself as a “CSI (Crime Scene Investigator) at San Antonio Police Department” on her Facebook page, shared a post from Detective Benjamin Marconi’s “son” Dane Gregory Marconi. Marconi’s message states “Just got off the phone with the future president Trump, he sends his condolences to our family.” The Facebook post was later removed.
any call from bama booty?
new centurions needed
not an obama son…
So obama could care less.
Yeah, that’s it.
logic fail - LOL
This sponsored message posted by Correct The Record.
And Comet Pizza. It’s for the children!
Trickle Down….? Do we still believe in it?
0.7% Control $116.6 Trillion in Wealth…
You mean 100% are responsible for $80 trillion in debt and unfunded liability.
The US is dead broke.
The 1% does not care if the USA is broke, they are fine.
Warren Buffett sees $11 billion boom on Donald Trump win! USA!!!
It’s just dumb luck on his part. He supported that pantsuit-wearing communist.
dont worry, he is giving it all away, like Gates.
Of course he’s giving it away:
1. He knows that capital is allocated more efficiently privately; and
2. He doesn’t want the government to have 40%+ of his wealth to squander.
wise man, and he has more than he could ever spend.
25% were ready for pure socialism
They got a governmentarian
Call your reps and say no to spending
with pure socialism, everyone would be middle class, of course ou can see this appeals to 25%. lots of unskilled zombies in the USA. Visit your local Waffle House.
with pure socialism, everyone would be middle class
BAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
you mean it would turn out completely different than EVERY OTHER TIME it was tried?
Maybe you should give us the tired excuses that “pure” socialism has never been implemented, they never had the right people in charge or the entire world needs to be socialist for it to work…
Funny how NOT ONE spoiled celebrity wants to escape Trump by moving to Cuba or Venezuela…
… or North Korea
The highly skilled prefer that mix of “capitalism” and “socialism”. Wall Street likes the formula: privatize the profits, socialize the losses. Similar mixtures are found in Silicon Valley, the oil industry, aerospace, private universities and other sectors.
Forget the isms, everybody wants the deck stacked in their favor - heads I win, tails you lose. Doesnt matter what industry. Its human nature, something your kind dont seem to grasp. Best way to mitigate it is a fair set of minimal and comprehensible laws and strict enforcement of them. We passed that threshold years ago, and are passing more and more laws that address symptoms rather than causes.
Forget the isms
+ 100 on that one
Of course, ditching the isms requires you to make arguments with some details in them. You can no longer say, don’t do x, that’s socialism!
That’s a winner.
Mike has a problem with being a socialist, which in other countries is the name of the affiliation, or basic description. It must be uniquely a US aversion, because a more honest description of policy is evident everywhere else.
Anyone miss the obama making promises on the campaign trail?
Shall I remind?
“I will sign a universal health care bill into law by the end of my first term as president that will cover every American and cut the cost of a typical family’s premium by up to $2,500 a year.”
— obama 2007
“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents — number 43 added $4 trillion dollars by his lonesome, so that we now have over $9 trillion dollars of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”
— obama 2008 (the obama debt in now at $20T)
“I believe marriage is between a man and a woman. I am not in favor of gay marriage.”
— obama 2008
Only one of those is a promise. You should be more cheerful. You’re guy won the election two weeks ago.
Is that you Hillary?
Are you trolling now with all your free time and drastic drop of donations to the Clinton Foundation???
What were they paying for if you are not in power?
I’m the voice of truth and reason, that’s who I am.
Besides, Hillary is history now. Hasn’t the right wing media chosen some new villains for you to hate?
“right wing media”
Trumps Wins Media Cries
https://www.youtube.com/watch?v=YMbc0OWzByc
“I’m the voice of truth and reason, that’s who I am.”
Someone thinks he’s special.
It’s a little joke.
George Sorass gotta be hurting with those big put positions on the s&p500, russell 2K and high yield that have gone against him. 2018 gonna be another slaughter for the dems with no ((soros)) money. Media - ((ny times)) and espn will be filing BK at that point, who wants to advertise with fake news and boring sports games that whine about the greatness of Karl Marx?
There’s a rumor, started by Benjamin Fulford, that Soros is dead. Snopes has debunked it.
‘Be a leader, not a tweeter.’
Don’t follow leaders. Watch the parkin’ meters.
Speaking of campaign promises, enjoy reading these!
http://www.bbc.com/news/world-us-canada-38072846
http://mobile.reuters.com/article/idUSKBN13H1DZ
“I believe marriage is between a man and a woman. I am not in favor of gay marriage.” — obama 2008
Obama’s OPM has stuffed the Interior bureaus with LGBT victims.
Bernie Sanders
Sen. Bernie Sanders is the longest serving independent in congressional history.
Let’s Rebuild our Infrastructure, Not Provide Tax Breaks to Big Corporations and Wall Street
Our infrastructure is collapsing, and the American people know it. Every day, they drive on roads with unforgiving potholes and over bridges that are in disrepair. They wait in traffic jams and ride in overcrowded subways. They see airports bursting at the seams. They see the need for a modern rail system. They worry that a local levee or dam could fail in a storm.
During the presidential campaign, Donald Trump correctly talked about rebuilding our country’s infrastructure. But the plan he offered is a scam that gives massive tax breaks to large companies and billionaires on Wall Street who are already doing phenomenally well. Trump would allow corporations that have stashed their profits overseas to pay just a fraction of what the companies owe in federal taxes. And then he would allow the companies to “invest” in infrastructure projects in exchange for even more tax breaks. Trump’s plan is corporate welfare coming and going.
https://medium.com/senator-bernie-sanders/lets-rebuild-our-infrastructure-not-provide-tax-breaks-to-big-corporations-and-wall-street-f7d3ab463717#.gj7qgqhr2
Also the most deeply humiliated independent…
Bernie was always the controlled opposition, and a sellout.
Kenmore, WA Housing Prices Crater 14% YoY
http://www.movoto.com/kenmore-wa/market-trends/
Business Booms at N.Y. Times, WSJ as Showdown With Trump Looms
The nonprofit news organization ProPublica typically receives about 10 donations a day. On Monday, its website was deluged with about three every minute.
ProPublica is one of several outlets, including the New York Times and Wall Street Journal, witnessing a swell in donations or subscriptions since Donald Trump’s victory in the Nov. 8 election. ProPublica, the Times and the Washington Post got a boost Sunday from HBO comic John Oliver, who lamented “fake facts” that circulated on social media during the campaign and urged viewers to “support actual journalism.”
“A lot of people after the election feel compelled to respond in one civic way or another, and journalism is an important part of that,” said Richard Tofel, ProPublica’s president.
The support is a hopeful sign for an industry looking to answer how so many journalists missed the Trump surge. Hurt by the loss of readers and advertisers over many years, newspaper publishers have had to cut their staffs and pare their coverage. The Wall Street Journal cut at least 50 positions this month.
At the Times, new print and digital subscriptions have risen at four times their normal rate since election day, according to spokeswoman Eileen Murphy. The company saw record traffic on its website Nov. 8 through Nov. 10, the newspaper said in a statement Monday.
http://www.bloomberg.com/news/articles/2016-11-15/business-booms-at-n-y-times-wsj-as-showdown-with-trump-looms?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social
“support actual journalism”
LOLZ
That the two men have spoken again in the days since their first meeting was first reported Monday by multiple outlets, including POLITICO, when Trump said as much during an off-the-record meeting with multiple TV news executives and anchors. The president-elect was effusive in his praise of Obama, according to a source in the room, adding that he had spoken to the president at least twice since their White House meeting.
According to the source Trump was effusive in his praise of Obama. He said he’d never met him before the White House meeting and that he didn’t think he would like him. Trump said that he ended up liking Obama ‘so much,’ and that he had so much respect for him.
“The feeling is mutual because it takes two to tango” Trump said, according to the source.
http://www.politico.com/blogs/donald-trump-administration/2016/11/white-house-confirms-obama-has-held-more-talks-with-trump-231747
No hard feelings. Pack your bags.
afraid this would happen, he does not want the job.
“In theory I could run my business perfectly and then run the country perfectly,” Trump said, according to tweets from New York Times reporters interviewing the president-elect Tuesday. “There’s never been a case like this.”
Remember… Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.
Yep, just ask all the people in Houston and Dallas how they love low oil prices! And how great the Obama economy is since the drop from $105 to $40.
The only winner here is me. And I’m living in your head rent-free.
more like Sec 8
Your rage is showing.
crushing.rental.housing.losses.
I live in Dallas and I feel great. Never been better.
The only shame in the loss of bubble jobs is that they were ever created in the first place. Massive waste of resources.
Ask them how they feel? Really?
Looks like 2021-3 will be the year to buy a home. If you need shelter.
2012 wasn’t so bad either.
Depends how much you paid.
but he said so….
Trump Won’t Pursue Charges Against Hillary: “She’s Been Through Enough”
will any of his promises stick?
Rent free.
why do you care?
Damn new, Trump gave you Bruxism.
Now you’re gonna have to sleep with a mouth guard so you don’t chew your tongue off.
Night guards are also available through your dentist. Guards of this type tend to be of a higher quality and superior fit, as they are made in a special laboratory from an impression of your mouth carefully taken by a dental professional. This is generally a more expensive device than one purchased over-the-counter, but can be more comfortable to wear.
If a night guard is uncomfortable, there are other possible treatments listed below that you can ask your dentist about.
Stress prevention: One of the main causes of bruxism is anxiety, so your dentist might advise you to utilize one or more at-home methods of relaxation, like meditation, or in some cases professional counseling, to get you to relax and stop clenching your jaw.
http://www.colgate.com/en/us/oc/oral-health/conditions/bruxism/article/do-i-need-a-night-guard-0313
Bruxy got himself a brandy new RageCage.
The Trump card for obama not to pardon Hillary…
And then after January 21st….
New evidence was recently found….
She’s been schlonged twice. Last photo I saw looked like she’s aged 10 years since the election.
Hillaryous is unelectable. Everyone heard it here first over a year ago. But then again we’ve had many many facts here on the blog that are rejected violently and then ultimately accept it as the truth.
I think I said a couple of times that Hillary would never, ever, ever be president of the US. Although I thought it would be because of health or crimes or both.
I could see Trump becoming president, I just couldn’t envision her in the position.
” Last photo I saw looked like she’s aged 10 years since the election.”
No need for the Hollywood Studio caliber cosmetologist to make her look “acceptable” anymore. Now she can let it all hang out and look the way she really is.
Hehe… yes.
You got it. Two hours in the makeup chair can really transform a person, as we have seen. Then another half-hour to take it all off at night. No point in going through that any longer.
keep drinking trumps kool aid
What bothers you most, the shape of the hammer, the metal, the finish or the trajectory?
Obama replied: “I can’t pardon somebody who hasn’t gone before a court and presented themselves, so that’s not something that I would comment on at this point.”
———————-
Of course that had to do with cries to pardon Snowden, but I wonder if Obama is just pulling that out of his nether region, or if he has had an actual legal review of his powers to pardon.
There’s likely a Jon Corzine pardon being discussed.
You’re fantasizing. Trump has bigger worries now than satisfying those who voted for him because he said he would put her “in jail.”
I hope Trump ends welfare:
BIG OIL SUBSIDIES ($37.5 BILLION/YEAR)
According to Oil Change International (OCI), the U.S. government spends anywhere between $10 billion and $52 billion per year on corporate welfare for the fossil fuel industry — one of the wealthiest industries in the world. OCI estimated that total combined subsidies to big oil approached $37.5 billion in 2014, which includes $21 billion on production and exploration subsidies.
Do you wake up in like this screaming Trump?
https://www.youtube.com/watch?v=_zHpqsg4_wc
Me too.
And
Fraud solar
Fraud electric vehicles
Illegals receiving benefits
Muslim moochers
Public unions
Etc.
Me too! Tell me when you get even close to $100 mill
$37.5 BILLION/YEAR!! and it is NOT FRAUD
WELFARE FOR WALL STREET ($83 BILLION/YEAR)
The biggest banks have grown even bigger than they were just before the 2008 financial meltdown. And due to their size, these banks are perceived as “too big to fail,” as their demise would spell doom for the US financial sector as a whole. So as these big banks grow bigger, the Federal Reserve allows them to borrow at lower interest rates than other big banks — essentially subsidizing the continued growth of the big banks. In 2013, Bloomberg estimated the ten biggest TBTF banks suck up $83 billion per year in corporate welfare.
Non-Muslim moochers are OK
How about we don’t import moochers and take care of the moochers already here?
Especially if the new imported moochers feel they have the duty to imitate their prophet and rape and kill infidels for their tickets to heaven.
I think new attitude is having a meltdown.
He has a concussion.
He has Bruxism.
http://usuncut.com/class-war/10-corporate-welfare-programs-that-will-make-your-blood-boil/
http://www.nytimes.com/2016/08/28/magazine/inside-facebooks-totally-insane-unintentionally-gigantic-hyperpartisan-political-media-machine.html?_r=1
“Now 36, Provost helps run US Uncut, a left-leaning Facebook page and website with more than 1.5 million followers, about as many as MSNBC has, from his apartment in Philadelphia.”
Why not post the source of your tripe?
PHARMACEUTICAL SUBSIDIES ($270 BILLION/YEAR)
As US Uncut has previously reported, the pharmaceutical industry costs taxpayers roughly $270 billion a year when accounting for the cost we pay for life-saving drugs whose patents have been bought up by Big Pharma. This is over $1,914 per household in corporate welfare. This is partly due to the Medicare Part D bill that George W. Bush signed into law in 2003, which prevents Medicare from negotiating drug prices with pharmaceutical companies. But the biggest drug companies also make a pretty penny (a combined $711 billion in profits between 2003 and 2012) by buying patents for drugs that were largely developed with taxpayer-funded research, then jacking up the price by absurd amounts after cornering the market.
Remember nothing destroys the economy and creates record joblessness like fixed markets and rigged prices at grossly inflated levels. Nothing.
rich are getting richer! They dont give a sh@t about people like u.
Yes we are Poet….. Yes we are.
He did not say shut-ins are getting richer.
A RageCage is being prepared for you. And you’re gonna love it.
Remember Trump is a fan of revenge. Romney as sec of State is great revenge.
Romney is Secretary of State???
Get lost on your way to HuffPo, little fella?
It looks like a setup for Trump to lead Romney on, then choose someone else at the last minute as payback.
The SNL skit captured it…shows Romney and Trump shaking hands for an uncomfortably long period of time, then Romney says, “This isn’t going to work, is it?”
“I don’t think so,” says Trump.
What’s this world coming to when the wives of the super-rich can’t flaunt their obstentious wealth before the proles without being targeted by criminal gangs?
https://www.theguardian.com/world/2016/nov/22/qatari-women-robbed-of-43m-valuables-in-paris-motorway-hold-up
Heh. When I read that story, I couldn’t help thinking that Mexico is probably safer and in better shape than France.
Not so many imported muslim moochers in Mexico…
I’ve spent a fair amount of time in Mexico. They actually have a thriving entreprenerial class made up largely of second-generation Syrians and Lebanese. Carlos Slim, the richest guy in Mexico, is of Syrian ancestry. So is Selma Hayek. Most Muslims do very well for themselves in Latin America, and most view the problems of the Middle East as unrelated to them in their new lives.
Carlos Slim is a Catholic.
Many Christians from Lebanon and Syria, who have been ethnically cleansed by muslims in their home countries , do very well in the west.
A way to tell.
Are they moochers with a FSA attitude…?
Danny Thomas did well for himself in the US.
Carlos Slim is a Catholic.
Ditto with Hayek.
I encountered more than a few Lebanese-Mexicans during my time south of the border. Without exception, every single one I met was Catholic.
And both Slim and Hayek are Lebanese, not Syrian.
I feel safer in Mexico City than in any major US city.
Roll through old Mexico City and you’ll change your tune in a hurry.
Maybe vs. the Detroit ghettos, and even then I’m not so sure.
Hello South America.
How long will Britain keep paying for the inbred mega-parasites of the Royal Family?
http://www.independent.co.uk/voices/prince-harry-caribbean-buckingham-palace-royals-pay-rise-66-per-cent-millions-tour-antigua-benefits-a7431426.html
Germans voted for globalism. Germans got globalism. Germans who complain about what they voted for are stupid.
http://dailycaller.com/2016/11/22/a-third-of-germans-feel-like-strangers-in-their-own-country/
However, many Germans perhaps don’t see their feelings of being a stranger as a bad thing, as 86.1 percent of respondents agreed that “(p)eople who flee from wars should be taken into Germany.”
They’re toast.
There is a silver lining: we’ll be able to cherry pick Germany’s best and brightest as they will eventually be clamoring to leave Gerabia.
If you like your oligarchy, you can keep your oligarchy.
http://www.zerohedge.com/news/2016-11-22/global-wealth-update-07-adults-hold-1166-trillion-net-assets
The cracks keep appearing….
http://www.wsj.com/articles/venezuelas-pdvsa-misses-404-million-payments-on-bonds-1479768989?mod=yahoo_hs&yptr=yahoo
How come the Hollywood liberal elites who promised to leave America if Trump won the election NEVER want to go to Venezuela???
Even thought they want all the policies of Venezuela instituted in America?
Not one of them will leave the country. They’ll announce they’re going to bravely stay here and fight…for the children.
Why do you care about Hollywood?
Conway-ism
Hey, they were all at the white house last night, getting the presidential medals of honor!
Chevy Chase, MD Housing Prices Meltdown 16% YoY
http://www.movoto.com/chevy-chase-md/market-trends/
the next election will include chelsea clinton and jeb bush’s son.
After 8 years of President Pence?
‘the next election will include chelsea clinton and jeb bush’s son’
I’ll take 5 bucks against that.
“Gold Prices Plummeting to $1,200″
https://www.thestreet.com/story/13901366/1/gold-prices-plummeting-to-1-200-will-selloff-continue.html
Keep stacking.
The insane printing of fiat monies and massive government debt is not going away.
All across the mundo.
I’ll add-to when it gets down to $600 or so.
Real assets are controlled by those without real wealth. When it is credit crunch time, they will be liquidated.
Lower gold prices and bond prices go hand-in-hand with higher bond yields.
Whoever seeks to set one religion against another seeks to destroy all religion.
Franklin D. Roosevelt
Is there a silver miner that’s worth a sht ?
The definition of insanity: (Keynesian lunatics and “former” Goldmanites at the central banks) doing the same thing over and over and expecting different outcomes.
http://www.reuters.com/article/us-ecb-policy-draghi-idUSKBN13G1U9
Quotes of the day.
https://www.theburningplatform.com/2016/11/23/quotes-of-the-day-335/
Auto debt is hitting new highs while subprime delinquencies are soaring and auto sales have “plateaued.” Get ready for a new bailout, taxpayers.
http://wolfstreet.com/2016/11/22/strongest-pillar-of-the-shaky-us-economy-has-cracked/
Already bailed
Cash for clunkers and the auto bailout
That’s a great piece. Thanks!
Auto debt is soaring. Given higher transaction prices, ever longer loan terms, and higher loan-to-value ratios, total auto loans and leases outstanding have shot up $30 billion in the third quarter, the largest quarterly increase ever, even as sales have been flat.
So they aren’t selling more cars, but they are selling much more expensive cars. Not surprising, when you see “entry level” cars like Civics, Corollas, Focuses, Cruzes, etc. priced in the 20K’s. Gotta have all those gadgets, I mean, wouldn’t you be embarrassed if your car didn’t have a “hot spot” built in or power seats with memory settings?
It will indeed be interesting to see what happens when interest rates go up and HELOCS dry up. Selling all those $50K+ pickups and SUVs could become challenging, to say the least.
How many times as all the “collateral” keeping the monetary system afloat been pledged?
http://www.zerohedge.com/news/2016-11-23/bunds-tumble-report-ecb-may-lend-out-more-bonds-unfreeze-broken-repo-market
This Stage 2 Liberal shows his hand at 2:05
Liberal CNN Guest Says N-Word On Air LIVE
Published on Nov 22, 2016
https://www.youtube.com/watch?v=KUVZ_uzVBbk
I saw that clip and realized that CNN is having a full-on, collective mental breakdown, for real. The clip was so over the top I was surprised the guy didn’t have spittle flying out of his mouth.
Not only is CNN not news in any way, shape or form, it’s not even entertainment, unless you like to see a bunch of shrieking lunatics mess themselves. It’s actually painful to watch.
3:55
There are so many White Supremacists in this country a CNN anchor can’t even pronounce White Supremacists.