Many Buyers Anticipate Prices Will Continue To Fall
A report from Bloomberg on the UK. “London’s housing market is in a state of flux, as a combination of Brexit and increased stamp duty lead to forecasts that values will drop. In many parts of the capital, though, those falls are already happening. Stratheden, The Bishops Avenue, N2: The vendor of this mansion on one of the two London streets known as Billionaire’s Row is now willing to sell for about 15 million pounds ($18.9 million), compared with an initial asking price of about 25 million pounds, according to broker Glentree International. ‘It’s a substantial reduction, fully reflecting the challenging post-Brexit market of today,’ said Trevor Abrahmsohn, managing director of the broker.”
From Radio New Zealand. “Let’s call it the moment of puncture. It’s that moment when an over-inflated balloon is pierced and either goes bang, with a hail of shredded rubber bits, or whizzes off up to the ceiling with a whoosh and then down under the couch, never to be seen again. New Zealanders are forever trying to pick that moment of puncture for the housing market: when a momentary slowdown in a 20-year trend turns into something more catastrophic. In retrospect, it will look obvious, but it’s never clear in the millisecond before the rubber shreds.”
“It’s tempting to look at the Real Estate Institute of New Zealand figures for November and see a slight tear in the rubber. In Auckland, volumes fell 2.9 percent and the median price fell 3.9 percent in November from October in seasonally adjusted terms. Auction clearance rates in Auckland in particular have dropped sharply through the middle of this year, and into the traditionally stronger spring open-home and sales season. There has also been talk that tougher capital controls in China, and a new reluctance by banks here and in Australia to lend to non-resident buyers, is dampening demand from overseas buyers. But it’s still too early to say this is that rubber-shredding moment.”
From Domain News in Australia. “Tenants should have more bargaining power with landlords as vacancy rates continue to rise in Brisbane. Renters may be able to name their price, get rent-free weeks when signing a new lease, and change the terms of their lease, industry experts said. ‘Apartment construction is overwhelming supply in pockets throughout Greater Brisbane,’ said Real Estate Institute of Queensland chief executive Antonia Mercorella. ‘This means rents are negotiable and rental incentives are becoming more commonplace.’”
The Business Times on Singapore. “The volume and value of transactions in Good Class Bungalow (GCB) Areas have risen so far this year, though prices continued to soften. After taking into account such factors to arrive at a like-for-like comparison, Realstar Premier Group managing director William Wong estimates that GCB prices today are about 10-15 per cent lower than the last peak in 2013.”
From Focus Taiwan. “The local property market remained weak in November, with the housing index, which gauges the market climate, trending lower and flashing a blue light signaling a contraction, real estate market magazine My Housing said. ‘Many home buyers have anticipated that house prices will continue to fall, while many homeowners remain reluctant to cut prices for the moment. Under such circumstances, the pace of making deals in the local property has been slow, pushing down transactions,’ said Ho Shih-chang, a research manager at the magazine.”
“CBRE Realty Associates’ head of luxury homes, Douglas Wong, noted that the lower GCB prices have boosted sales volumes this year. ‘While sellers were largely not under pressure, they could have envisaged that the market may weaken further in the near term. In the coming year, investors will be cautious given more uncertainty around employment, interest rates and the global economy. In addition, the Monetary Authority of Singapore has reiterated that it will keep the cooling measures in place for some time.’ This will put downward pressure on prices.”
Rand Paul needs to lead some resistance in the Senate on this one:
http://www.denverpost.com/2016/12/11/police-expect-trump-lift-limits-military-gear/
And civil forfeiture needs to be banned nationwide. Starve these little piggies
That’s not going to happen.
Testify, Brother Goon. Civil forfeiture is officially sanctioned theft. I want my Fourth Amendment rights restored.
“And civil forfeiture needs to be banned nationwide.”
Well, the Supreme Court hasn’t given this much thought… not publicly anyway. I doubt if anyone else will champion the cause.
As the wise-man RioAmericanInBrasil kept telling us the Constitution and Bill of Rights are obsolete documents written for racist, white men. We no longer need rights. Our privileges are earned by our service to the state. Our property is the property of the state to be used for the benefit of the poor as seen in the eyes of the state. Our state police needs to be built into a standing army to coerce us to do the right thing for our own collective good. Finally Amerika is blossoming into a socialist paradise we can all be proud of. What could go wrong?
“It All Went Wrong for Chinese Investors Today”
https://www.bloomberg.com/news/articles/2016-12-12/china-s-stocks-bonds-yuan-slump-in-unison-on-liquidity-concern
“Analysts had a long list of reasons for the synchronized selloff, from President-elect Donald Trump’s questioning of the decades-old One China policy, to a regulatory crackdown to insurers’ stock investments, higher money market rates and concern that property prices are poised to fall.”
Methinks China will be the first domino to fall. The implosion of their Ponzi markets will have a cascading effect on every other central bank-blown asset bubble.
Got popcorn?
I hope so, I went short big time on China.
It’s no fun to follow, unless you win.
Another RioAmericanInBrasil-style communist, centrally planned paradise goes tits-up. So sad.
South Dakota Sen. John Thune and other top Republicans will launch a new drive to repeal the estate tax next year, while pulling back on efforts to force a year-end vote aimed at blocking a proposed Treasury Department rule that would tighten levies on inheritances.
looks like more debt!
It hurts family farms.
First ~$6 mill is tax free.
American farm subsidies are egregiously expensive, harvesting $20 billion a year from taxpayers’ pockets. Most of the money goes to big, rich farmers producing staple commodities such as corn and soyabeans in states such as Iowa.
Yep. Classic crony capitalism for factory farms.
Exactly my Commie friend! We should be harvesting $20 billion a year from taxpayers’ pockets and giving the money to big, rich Solar Power Companies producing commodity energy. At least they donate money to the Democratic party. Those farmers are racists Republicans by God!
Trouble in RE TV paradise:
‘Flip or Flop’ stars Tarek and Christina El Moussa split
http://www.cnn.com/2016/12/12/entertainment/tarek-christina-el-moussa-split/index.html
“Like many couples, we have had challenges in our marriage,” the pair said in the statement to People magazine. “We had an unfortunate misunderstanding about six months ago and the police were called to our house in an abundance of caution. There was no violence and no charges were filed.”
I guess the flipping profits werent enough to support her lavish lifesytle so he go kicked to the curb?
Now that’s funny! I wonder what that “unfortunate misunderstanding” involved. Perhaps a flip gone bad? Or maybe one of them decided it was time to flip the spouse. I also wonder if “No violence” is code for she lost it and started screaming and throwing dishes and stuff at him.
From a linked story:
“Police responded to the couple’s Orange County home in May after receiving a “call of a possibly suicidal male with a gun,” according to TMZ. Tarek allegedly ran from the home with a firearm, only dropping the weapon when a helicopter spotted him and officers commanded him to do so.
He allegedly told officers he did not intend to harm himself, but wanted to “blow off some steam.”
Yikes.
I guess that still doesn’t answer the question as to what precipitated things but I’m guessing it’s “one of them decided it was time to flip the spouse,” with the “one of them” being her.
wanted to “blow off some steam.”
One could say that steam is a chemical component of gunsmoke.
Police will file charges, not up to her.
Sounds like a person in deep debt.
“Or maybe one of them decided it was time to flip the spouse.”
Guess which one, and you’re good for a cheese flavored biscuit.
Christina has that high-maintenance appearance.
maybe she has big hands
playboy bunny contractor
“maybe she has big hands”
Doesn’t look like a real blonde… likely fail the wool exam.
From the pic, she’s already failed the roots exam.
My first rule of dating: Make-up-y women are insecure and should be avoided.
Hm, well, there goes their business of flipper seminars, you know, the multi-level marketing ones. And possibly the show too.
I do feel sorry for the kids. IIRC, the girl is 6-7 and boy is under 2.
“Five London Homes Where Asking Prices Have Tumbled by 20% or More”
https://www.bloomberg.com/news/articles/2016-12-09/london-homesellers-cut-asking-prices-as-buyer-demand-cools-off
“fully reflecting the challenging post-Brexit market of today”
Still in denial that it’s a housing bubble deflating.
You’ll have better luck getting the elephant to pass the peanuts than you will a degenerate gambler to admit his losses.
The United State of Goldman Sachs.
Sorry, I stand for small gov and an end to corp welfare.
If you like Hank Paulson, you can have Hank Paulson.
Hank Paulson hasn’t been Treasury Secretary since 2009.
I guess you never get over that Owsley.
Q: what is History, and why should we learn from it?
“why should we learn from it?”
Never take windowpane from strangers, that’s why.
https://www.youtube.com/watch?v=yYz3E4MckSw
It’s going to a rough 12 years.
It’s already a rough life. 12 yrs is nothing for his kind.
Not everyone can make it in coastal CA. Survival of the fittest.
Then there is Buffalo, NY.
Namaste.
“I stand for small gov”
No. You stand for Hillary and all that goes with her. Nice try.
“I stand for efficiency and clean water and air as an outdoorsman.”
Well, shoot, I agree with ya, but what are ya gonna do when all that Fukushima water grows a third eye on your buttocks?
“Not everyone can make it in coastal CA.”
I’ve read stories of SLO doctors that won’t buy and rent instead. There’s going to be a generation or two of Californians that will be thoroughly dead broke at retirement age. Is someone in Iowa going to have their retirement fund appropriated to help a coastal loser?
Is someone in Iowa going to have their retirement fund appropriated to help a coastal loser?
I doubt Iowans would have any say in the matter, should things come to that.
I’ve read stories of SLO doctors that won’t buy and rent instead. There’s going to be a generation or two of Californians that will be thoroughly dead broke at retirement age.
There are stories about people all over the country saving very little for retirement. Presumably those doctors should have money to put into IRAs.
Especially if they are renting at half the cost of buying.
That said, doctors are probably fine. They can easily park away enough money to retire in a paid-off house in Oil City, or an equivalent condo in FL. The people who will really hurt in retirement are the blue collars. They used to be able to retire decently if they had a paid-off house, a small pension, and social security. But it doesn’t work without the paid off house.
Donk….. The ‘paid off’ part is irrelevant when the return is 20 cents on the dollar at best.
And keep in mind housing prices in the last 15 years are 300% higher than long term trend.
“The people who will really hurt in retirement are the blue collars.”
And what will become of the blue collars… honestly?
Honestly, I don’t know. Maybe their grown kids will have to take them in. Or share senior slum apartments?
New Attitude you do not stand for small government you are a Bernie Sanders supporter for God’s sake. “small government” and “Bernie Sanders” don’t even belong in the same sentence.
Comment by RioAmericanInBrasil
2015-12-09 07:13:17
Does a bigger sucker exist than a Bernie Sanders supporter?
Trump supporters’ twisted vision of reality will not help the Repubs win the election imo. Unlike most Trump supporters, a Sanders supporter has the intelligence and enough degree of realism to see the big picture. Sanders is helping his party no matter who gets the Dem nomination. Trump is absolutely destroying his party’s chances. Trump is lifting the veil on the very ugly side of the Repubs I’ve been talking about for years.
Come November, Trump supporters are going to still be wondering how it all went so wrong, while most more intelligent main-stream Repubs will know how it all went so wrong.
Hint: I seriously doubt that your gettin’ “your country back” in November.
Comment by RioAmericanInBrasil
2015-11-29 13:25:54
I’m beginning to think Hillary’s election chances scares the he!! out of Republicans.
Can you imagine their fears after 8 years of a black guy then 8 years of a women president? And a women that’s hard to like?
16 years is almost a generation. Half the old white guys from 08 might be gone. I don’t relate to their fears but I understand them.
They should support Sanders because Repubs are toast imo.
“Comment by new attitude 2016-12-12 17:31:06: Not everyone can make it in coastal CA. Survival of the fittest. ”
AKA Rio - let me correct that for you:
Not everyone can make it in BRAZIL. Survival of the fittest.
LOL
If there was a HBB worst poster of the year award, this guy would have no competition.
I kind of like natty, he’s fun in a bizarre sort of way. Nothing beats an old California burn-out.
Ben needs to add a feature where we can vote people off the island.
Natty Ice Dude is getting close to a bannin.
Aw, natty’s just horsin’ around. At least he has a sense of humor, of sorts. He just lives in an alternate reality.
And he’s not engaging in a deliberate campaign of humorless demoralization.
The desperate moonshot at overturning the electoral college is getting weirder and weirder.
http://www.cnn.com/2016/12/12/politics/white-house-suggests-trump-benefitted-from-russia-hacking/index.html
White House claims in press conference Trump actually asked the Russians to hack the DNC. I never saw anything like this.
hey Obama, are the emails true or not?
They want war; a war with Russia or a Civil War.
War is what they want, period!
Trump urges Russia to hack Clinton’s email
The campaign later attempted to clarify Trump’s remarks, saying he wanted Russia to hand over the emails if they had them.
By MICHAEL CROWLEY and TYLER PAGER 07/27/16 01:59 PM EDT Updated 07/27/16 05:17 PM EDT
Donald Trump invited Russia to hack Hillary Clinton’s emails on Wednesday, asking one of America’s longstanding geopolitical adversaries to find “the 30,000 emails that are missing” from the personal server she used during her time as secretary of state.
“I will tell you this, Russia: If you’re listening, I hope you’re able to find the 30,000 emails that are missing,” the Republican nominee said at a news conference in Florida. “I think you will probably be rewarded mightily by our press.”
http://www.politico.com/story/2016/07/trump-putin-no-relationship-226282
Have hope Mike. Get your hopes up real high!
‘Democrats fear another Trump trouncing’
‘Leaderless and lacking a strategy, top party officials worry they’re not ready for Trump’s first 100 days.’
‘The party was caught flat-footed by Trump’s victory, and there was no detailed contingency plan in the event Hillary Clinton was defeated. The widespread expectation was that President Clinton’s handpicked choice for DNC chairman would take over on Jan. 21, the day after the inauguration. That Democrat — likely a prominent figure practiced in both fundraising and television pontificating — would be backed by a building brimming with operatives shipped down from Clinton’s Brooklyn campaign headquarters.’
‘Working in tandem with a refurbished political wing of the White House, the staff would be tasked with readying the party for a furious attempt to limit Senate losses and gain back governors’ mansions in 2018, ahead of long-brewing plans to reverse Republican redistricting gains two years later. Parts of the party’s short-term rapid response operation would be outsourced to Correct The Record, a super PAC established to back Clinton during her campaign.’
‘But Correct the Record — which had clashed with the DNC under former Chairwoman Debbie Wasserman Schultz — has now been shut down. The redistricting push has been largely handed over to a new group helmed by former Attorney General Eric Holder. And the rest of the plan was summarily dismantled by Trump’s win, sending the central committee into a period of uncertainty as it now searches for its next chair, a process that won’t be finalized until the end of February.’
“Who’s the messenger? It’s bigger than his first 100 days. If Trump controls the message, which he has continued to do and will only do more as the sitting president of the United States, this could snowball into a very big issue for Democrats and independent voters out there,” said Boyd Brown, a South Carolina Democrat who until recently was a DNC member. “We are totally letting him control the message and control the story. He’s setting traps and we’re taking the bait. Carrier? Prime example. We’ve got him on this Russia deal, but we’ll find a way to mess it up.”
Oh that’s why the russia fake news? That makes sense I guess.
https://i.imgflip.com/1an7cu.jpg
I will give you 500 for an option to buy your house, at current market value, for a period of 1 year.
What an interesting proposition. Market-specific, condition-specific, or will you buy a call on any POS house I’m willing to write one on? Are you also buying calls for REITs, etc?
The devil’s in the details.
He didn’t say 500 “what.”
Could be 500 tugs.
Poet….. You’re running low on blinker fluid again.
Financial Times
Sovereign Bonds
Bonds buckle as investors wary ahead of Fed
Prospect of more aggressive central bank and a rising oil price send yields higher
Eurozone bond yields climb to hit 11-month high in Fed week
5 hours ago
by: Mehreen Khan
The prospect of a more aggressive Federal Reserve and a surge in the oil price hit global bonds on Monday, sending the yield on the benchmark 10-year Treasury note above 2.5 per cent for the first time since 2014.
Treasuries have led a sharp sell-off in sovereign bonds since Donald Trump’s victory in last month’s US election, raising the prospect that Fed officials will have to raise interest rates more quickly than expected to ward off inflation.
The bounce in US government yields was echoed across European markets, with the yield on the 10-year German Bund touching its highest level since January, as investors square up to a likely rate rise from Fed officials this week and the possibility they project a more aggressive tightening cycle next year.
“Whether he (Trump) can deliver or not does not really matter yet because it is the risk that he can that is driving things,” according to Chris Iggo, chief investment officer of fixed income at Axa Investment Management. “If he provides a fiscal boost to an economy that is already operating at full capacity then the likelihood is that inflation and interest rates will be higher. The risk of disbelief was too great given the asymmetric return outlook for a bond market already operating with yields close to all-time lows.”
The sharp turn in sentiment towards sovereign bonds was underlined by fresh data from the Commodity Futures Trading Commission on speculative positions, which show the biggest bets against a rise in 10-year Treasury prices since the start of 2015.
US policymakers are widely expected to raise the overnight Fed funds rate on Wednesday by 25 basis points to a 0.50-0.75 per cent target range, which on Monday helped push the two-year note — especially sensitive to changes in the Fed funds rate — to 1.15 per cent. That is near its highest level since April 2010.
The yield on the 10-year Treasury bond jumped as much as 5 basis points to 2.52 per cent, its highest since September 2014. The yield on the 10-year German bond rose 5bp to 0.42 per cent before easing back a little in London afternoon activity.
…
I wouldn’t get too excited yet. Overall, we are still in a long-term downtrend channel of treasury yields, but we do appear to currently be in a counter-trend spike within the long-term downtrend channel.
I posted the unmodified historical 30-year yield chart yesterday, but I annotated it today to represent when the different central bankers were controlling the Fed. The chart goes back to the late 70’s, it is the only one I could find online.
http://imgur.com/DvPTgT5
Clearly, the end of the Volcker period was marked by a high volatility top pattern. Greenspan came in in late ‘87, and as soon as he did, a very different pattern emerged — the nicely controlled downward channel. Whatever Greenspan was doing, Bernanke appears to have done the same, and so is Yellen.
Until we convincingly break out of that channel, I wouldn’t get too excited.
The Wall Street Journal
Credit Markets
10-Year U.S. Bond Yield Closes at 17-Month High
Bond selloff follows expectation of inflation
By Min Zeng and Christopher Whittall
Updated Dec. 12, 2016 7:33 p.m. ET
The yield on the benchmark 10-year Treasury note settled at a 17-month high on Monday as a crude oil price rally lifted inflation expectation and dimmed the allure of government bonds.
The yield on the 10-year note rose above 2.5% earlier Monday and settled at 2.478%, compared with 2.462% Friday. It marks the yield’s highest close since June 26, 2015. Yields rise as bond prices fall.
….
Are u havings feelings of depression caused by FOMO blues created by missing the santa claus rally?
Do u guys remember when trump was doomsday for the stock market cause he was going to reign in yellen bucks? That didnt last long. Now they are talking about a goldilocks economy cause he will help businesses.
Of course he’s going to help. Remember….. Nothing accelerates the economy and increases profits like falling prices to dramatically lower and more affordable levels. Nothing.
Oil dropped from $105 to $40 and…. we BOOMED! tHANKS OBAMA!
Lots and lots have been missed in the last 8 yrs from the anti obama tightwads. Hindsight and all…
Today, Fannie Mae announced their new system for dealing with appraisals.
http://www.fanniemae.com/portal/media/corporate-news/2016/day-1-certainty-appraisals-6491.html
Clinton campaign backs call for intelligence briefing before Electoral College vote
By GABRIEL DEBENEDETTI and KYLE CHENEY 12/12/16 12:49 PM EST
Hillary Clinton’s top political adviser John Podesta said the campaign is supporting an effort by members of the Electoral College to request an intelligence briefing on foreign intervention in the presidential election.
“The bipartisan electors’ letter raises very grave issues involving our national security,” Podesta said in a statement Monday. “Electors have a solemn responsibility under the Constitution and we support their efforts to have their questions addressed.”
http://www.politico.com/story/2016/12/clinton-campaign-backs-call-for-intelligence-briefing-before-electoral-college-vote-232512
Good news for the Freddie Mac deadbeats. Freddie said they won’t lock you out of your house during the Christmas holidays.
http://freddiemac.mwnewsroom.com/press-releases/freddie-mac-announces-holiday-eviction-moratorium–otcqb-fmcc-1289678
Lock ‘em out and lock ‘er up! Merry Christmas, ho ho ho….
Evidently the stumbling bumbling push from the Elite and their MSM Sunday morning shows has not deterred their effort.
White House suggests Trump benefited from Russia hacking
By Kevin Liptak, CNN White House Producer
Updated 2:31 PM ET, Mon December 12, 2016
(CNN)The White House strongly suggested Monday that Donald Trump was the beneficiary of Russian meddling in the US election, pointing to Trump’s own ties to Russia as evidence of Moscow’s intentions.
“You didn’t need a security clearance to figure out who benefited from malicious Russian cyberactivity,” said White House spokesman Josh Earnest during a briefing with reporters Monday. “The President-elect didn’t call it into question, he called on Russia to hack his opponent. He called on Russia to hack Secretary Clinton. So he certainly had a pretty good sense of whose side this cyberactivity was coming down on.”
http://www.cnn.com/2016/12/12/politics/white-house-suggests-trump-benefitted-from-russia-hacking/
This is a fun article, as reluctantly reported by real journalists:
Inside a Fake News Sausage Factory: ‘This Is All About Income’
TBILISI, Georgia — “Jobless and with graduation looming, a computer science student at the premier university in the nation of Georgia decided early this year that money could be made from America’s voracious appetite for passionately partisan political news. He set up a website, posted gushing stories about Hillary Clinton and waited for ad sales to soar.
“I don’t know why, but it did not work,” said the student, Beqa Latsabidze, 22, who was savvy enough to change course when he realized what did drive traffic: laudatory stories about Donald J. Trump that mixed real — and completely fake — news in a stew of anti-Clinton fervor.”
http://mobile.nytimes.com/2016/11/25/world/europe/fake-news-donald-trump-hillary-clinton-georgia.html
I think most of the gung-ho Trump supporters are feeling conned by now.
Exxon and Goldman laugh at you.
“drain the swamp,” lol!
Yeah, and if he keeps winning like this he’ll win 2020 by a landslide. Screech took money from GS. Now they work for Trump. The Exxon CEO is a north Texas oil guy. Can’t lose. BTW the youtube lists of hilarious bedwettings and bawling is getting longer every day. Check out the Trump insults videos.
“Now they work for Trump”.
And that’s a beautiful thing.
He fooled you. Now you have to keep defending him.
I dont see any smaller gov or smaller deficits.
Let me know when it happens.
Jokes on you SpandexBoi.
“Now they work for Trump”.
And Trump works for big business and wealthy, so they haven’t changed employers really. Their efforts in government will help Goldman, Exxon, etc. to make even bigger profits.
hey meltdown mikey, have you figured out the difference between a tax reduction and a subsidy yet?
meltdown, really? Your questions remind me of the deplorable losers in my neighborhood.
it’s just that you’ve been sounding kind of shrill since the election.
That’s just another dopey right wind remark.
well, i guess it’s better than a wrong wind remark.
it’s better than a wrong wind remark.
Just don’t make any broken wind remarks, you two.
The Carrier workers certainly don’t feel conned.
And those who think spending Billions upon Billions for airplanes don’t feel conned.
Time will tell, but the only metrics that will matter will be wages and unemployment in 3 years.
If wages look up and unemployment looks down, he’ll get another 4 years, regardless of who is occupying the swamp of DC.
Lets put some grease in the fryin pan.
Provo, UT Housing Prices Crater 10% YoY
http://www.zillow.com/provo-ut/home-values/
“The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th.” -DJT
I love this guy.
Anyone can tweet anything. I want to see concrete actions, not empty rhetoric.
Drain the swamp!
HOW ARE YOUR SHORT POSITIONS?
I covered my short positions at a considerable loss a few weeks ago. I never thought the Ponzi could go on as long as it has. Although I do think an inflection point is fast approaching, if not already here.
SO U WANT TO TRY IT AGAIN?
be careful though, gov spending is all we have keeping us out of a depression. Great to stop the cheaters!
Goldman must have gone short.
Pull yourself up out of that gutter and cheer up and remember…. Nothing accelerates the economy, creates jobs and raises the standard of living like plunging prices to dramatically lower and more affordable levels.
uncle fed kept us out of a depression.
WHEN JANET SPEAKS, SHUT YOUR PIE HOLE!
A: what are wars for?
If mortgage rates ever rocket higher to like 10% again, and say a $300K house drops to $100K, one good thing is.. it will be a lot easier for people, especially the first-time buyers, to save up for a normal 20% downpayment to buy a house.
And, if they’ve been saving their cash, a lot easier to pay off early if they choose. Win-win.
If interest rates skyrocket, prices will fall, but they won’t make it down to $100K. Hedgies with cash will buy them up long before that — like in the $225K range — and rent them out. This already happened in 2009-2011.
Donk, Prices are falling regardless of interest rates.
You can’t hide 25 million excess houses from Mr. Market.
If (when) rates skyrocket, housing prices WILL NOT fall. Prices will rise.
Together with runaway inflation.
Do you really believe wages will triple or quadruple(inflation) to meet grossly inflated asking prices of resale housing?
Of course not.
Housing prices will continue falling back to the long term historical trend to meet wages.
CNN’s Stelter: Trump Win a ‘National Emergency’
Despondent pundits crying crisis at every move from the president-elect
by Edmund Kozak | Updated 12 Dec 2016 at 12:16 PM
It has become inescapably clear that rather than attempt to break free from the ideological echo chamber in which they exist, liberal journalists in the mainstream media are only doubling down on progressive propaganda — descending ever further into self-parody.
http://www.lifezette.com/polizette/cnns-stelter-trump-win-national-emergency/
I don’t want to support Trump and be in loyal opposition, but idiots like Smelter drag me in every time.
Cut the cable. Cancel your subscriptions. Refuse to support the Oligopoly propaganda mouthpieces.
——-Trump on ‘intelligence’ briefings——–
“I’m a smart person. I don’t have to be told the same thing in the same words every single day for the next eight years.” -DJT
Can you imagine these harpies at your office door everyday ready to waste your time and babble like idiots? Looks like DJT solved this problem before it even started.
That’s how it’s done.
start firing these lazy people, lets get unemployment back to 10%.
Relax before put another run in your Spandex my friend.
Kennewick, WA Housing Prices Crater 6% YoY
http://www.zillow.com/kennewick-wa/home-values/
i DONT WANT MY ALLIES HERE IN A SOUP LINE!
Fake intel and made up news have to be repeated daily to make it believable.
——-Trump on ‘intelligence’ briefings——–
I’m a smart person.
Apparently he doesn’t understand of the word intelligence.
Neither do you. Otherwise you wouldn’t be posting fake news on this blog.
No, I don’t do that. You’re part of the fake accusations brigade.
Meltdown, You’re going to love the next 8 years.
he’s gonna get squeakier and squeakier.
So you’ll end up hating them for the same reason.
Find a hobby my friend. You’ll thank me later.
“Find a hobby my friend. You’ll thank me later.”
There are several liberals I know with Trump occupied skulls that are having a hard time letting this go but one in particular that I am actually starting to worry about.
It’s about the Big Picture, the Vision.
“Apparently he doesn’t understand of the word intelligence.”
Obama blames U.S. intelligence for missing rise of the Islamic State
By Dave Boyer - The Washington Times - Thursday, December 8, 2016
As President Obama prepares to leave office without having destroyed the Islamic State, he’s selling the notion that U.S. intelligence agencies failed to warn him promptly about the rise of the terrorist group more than two years ago, an assertion raising howls of incredulity in some quarters.
Mr. Obama told CNN in an interview that aired late Wednesday, “The ability of ISIL to not just mass inside of Syria, but then to initiate major land offensives that took Mosul [in Iraq], for example, that was not on my intelligence radar screen.”
“The analogy we use around here sometimes, and I think is accurate, is if a JV team puts on Lakers uniforms, that doesn’t make them Kobe Bryant,”
http://www.washingtontimes.com/news/2016/dec/8/obama-says-us-intelligence-missed-the-rise-of-the-/
Who owns Aleppo right now?
“Another special forces veteran, Colonel James Coffman, worked with Steele and reported directly to General David Petraeus, who had been sent into Iraq to organize the Iraqi security services.”
Iraq’s sectarian war - (52-minutes)
https://www.youtube.com/watch?v=_ca1HsC6MH0
***
These guys were torturing and killing Sunnis in direct support of the newly formed Al-Maliki’s Shia government. Enter ISIS.
The Oligopoly media-entertainment complex’s attempts to push The Narrative on gun control isn’t gaining much traction, as even ‘Muricans aren’t inclined to pay good money to see insipid propaganda flicks.
Miss Sloane, the gun control thriller starring Jessica Chastain, over the weekend posted one of the worst performances of the past 35 years for a movie in wide release.
The movie pulled in $1,167 on average at the 1,648 theaters across the country it was shown in. It made $1,922,300, meaning it was the 11th-highest grossing movie in the country. It is number 79 on Box Office Mojo’s list of Worst Opening Weekend by Per-Theater Average since 1982.
Is US under soft coup d’etat?
French is for sissies.
Could Trump Tower be leading the implosion of the Manhattan real estate bubble?
http://wolfstreet.com/2016/12/12/is-it-just-trump-tower-or-is-the-entire-new-york-city-housing-bubble-unwinding/
Cameron gone, Obama gone, Harper gone, Merkel soon to be gone, but Asad….
LOL
Tame Impala - Nothing That Has Happened So Far Has Been Anything We Could Control:
https://www.youtube.com/watch?v=Gkp05lmogIM
Parker’s decision to make the music for Tame Impala in the studio by himself is a result of Parker liking “the kind of music that is the result of one person constructing an awesome symphony of sound. You can layer your own voice 700 times for half a second if you want, and I just love that kind of music.”
Tame Impala - Keep On Lying:
https://www.youtube.com/watch?v=0YGNdAQsI4o
I’m getting worried about the dog.
Why is this news? Enya did this decades ago.
WE WOULD HAVE ALL BEEN IN SOUP LINES IF IT WASN’T FOR PRINTING 4.5 TRILLION TO MOP UP THE GREED OF ANGELO MOZILLO!
Falling prices my good friend. Falling prices.
Russians have read the book…. too easy
divide and conquer
You still fell for it.
How’s that socialism working out for ya, Venezuelans?
http://www.breitbart.com/national-security/2016/12/12/video-venezuelans-dig-garbage-feed-families/
Venezuela is not a socialist country. turn off the fake news.
http://nypost.com/2016/09/21/socialisms-left-venezuela-a-walking-dead-nation/
Legendary Baseball Announcer Vin Scully Absolutely DESTROYS Socialism During Broadcast [VIDEO]
DAVID HOOKSTEAD
12:53 PM 06/18/2016
Legendary baseball announcer Vin Scully absolutely destroyed socialism with a rant Friday night during the Los Angeles Dodgers game against the Milwaukee Brewers.
“Socialism, failing to work as it always does. This time in Venezuela. You talk about giving everybody something free and all of a sudden, there’s no food to eat. And who do you think is the richest person in Venezuela? The daughter of Hugo Chavez. Hello,” Scully said during the broadcast.
Read more: http://dailycaller.com/2016/06/18/legendary-baseball-announcer-vin-scully-absolutely-destroys-socialism-during-broadcast-video/#ixzz4SgIFpmyk
drink a killer porter from havasu tonight. Gave my banker a big @ss hug today. We locked in some awesome rates! LOCK!
Just cutting waste at the Pentagon won’t cut it
By Robert J. Samuelson December 11 at 7:36 PM
Any reporter who’s written about the federal budget knows that there’s a surefire solution to every problem. It’s called “fraud, waste and abuse.” You want to end budget deficits? Just eliminate all the “fraud, waste and abuse” in the $4 trillion budget. The same is true for cutting taxes or raising spending. Attacking fraud and waste is virtuous and dispenses with the hard political work of making unpopular choices.
It’s a fantasy, of course. There isn’t enough “fraud, waste and abuse” — or we can’t get at it — to evade the difficult choices. But we cling to the mythology because it makes us seem “responsible” and reduces the budget problem to purging sloth and policing misdeeds.
I was reminded of this last week when The Post published a fascinating front-page story headlined “Pentagon hid study revealing $125 billion in waste.” The article, meticulously reported by Bob Woodward and Craig Whitlock, disclosed that a Defense Department study had found that the Pentagon was “spending almost a quarter of its $580 billion budget on overhead and core business operations such as accounting, human resources, logistics and property management.”
These jobs need doing, but it seems that the generals are being overwhelmed by accountants and property managers. If we could squeeze $125 billion out of the Pentagon’s annual budget, there’d be plenty of money to spend on true military needs. Indeed, the report asserts that the savings could cover the costs for 50 Army brigades. It sounds straightforward.
It isn’t. On inspection, it turns out that the estimated savings of $125 billon are spread over five years, from fiscal 2016 to 2020. This changes the numbers dramatically. Instead of annual savings of 22 percent of the defense budget ($125 billion out of $580 billion), the plausible cuts are closer to 4 percent ($125 billion out of the roughly $3 trillion projected in defense spending from now until 2020).
https://www.washingtonpost.com/opinions/just-cutting-waste-at-the-pentagon-wont-cut-it/2016/12/11/8e16a61e-be45-11e6-91ee-1adddfe36cbe_story.html?utm_term=.c5b8ef1d9a59
it’s a page right out of the ‘crat playbook.
http://www.nbc.com/saturday-night-live/video/debbie-downer/n11825?snl=1
So, are you implying he shouldn’t attempt to trim/cut waste? Saving $125 billion of tax payer money isn’t worth it because it “only” amounts to 4% of 5 year projected defense spending? Why not start with low lying fruit and then move towards marginally more difficult spending cuts/reorgs (i.e. medicare, social security)?
He’s running a deliberate campaign of demoralization. So he’ll post anything meant to demean or degrade Trump and by association, those on the blog who support or approve of Trump. He’s our own little psy-op ankle biter mascot.
And you are right, a improvement is an improvement, however small. Build from there. From little acorns grow mighty oaks.
So, are you implying he shouldn’t attempt to trim/cut waste?
I assume that “he” refers to Donald Trump. That’s interesting. Perhaps you want to capitalize it. I imply no such thing.
So does that mean we should just keep spending the $125B unnecessarily?
What the article doesn’t say is that the cost savings occur via attrition (not re-hiring 1:1 for retirements). In other words, the $125B is NOT $25B in year one, $25B in year 2, etc.
It ramps up over time.
So, if you ramp up the annual savings at an even pace over the 5 years to get to a total of $125B, by the time you get to year 5, you are saving $40B per year.
And there is a HUGE outrage from the left to change partnership taxation rules that would raise $18B over 10 years (Obama’s estimate).
Where is the outrage? Instead there are articles about how it might not be that much money, and that the $125B might be hard to get.
Sorry, but if there is a potential roadmap as to how, over time, to reduce cost by 7%, you’ve got to fully explore that roadmap…NOT bury it.
Trump says the free market is ‘dumb’ — but Argentina offers a cautionary tale
Linette Lopez
In an interview with Fox News’ Chris Wallace this weekend, President-elect Donald Trump suggested that his administration would have to put a major tax on companies that relocate to other countries and then sell their goods in the US like “we’re a bunch of jerks.”
“What about the free market,” Wallace asked.
“It’s the dumb market,” he responded.
This, of course, implies that the market is dumb but he — the state — is smart. Trump is happy to have the state intervene in the most minute of economic affairs, saving a few hundred jobs from leaving Indiana, or complaining about the cost of two Boeing planes. So far, the stock market has had a bunch of knee jerk responses to his words even though there has been little action.
This is starting to force Wall Street to reflect on what that means for the economy. Economists considering the impact of Trump’s particular brand of populism don’t like what they see.
“There is extensive academic literature suggesting that populism is bad for economic growth and prosperity but also for most investment classes,” economists at Macquarie wrote last week. “Higher government spending and higher inflation tend to eventually kill both equities and bonds. Protectionism and de-globalization reduce economic efficiency and [long-term] growth rates. There is no evidence that lower corporate taxes or repatriation of profits lead to higher non-residential investment, unless the state underwrites commercial risks whilst trickle-down economics has been discredited decades ago.”
In short: We’re looking at a bunch of bad ideas here, and the aggressive arm of the state is behind all of them.
http://www.businessinsider.com/trump-populism-will-hurt-the-american-economy-2016-12
elphaba had to be stopped no matter what.
We all love Trump.
“We all love Trump.”
All you need is Trump
All you need is Trump
All you need is Trump, Trump
Trump is all you need
https://www.youtube.com/watch?v=t5ze_e4R9QY
is DJT going to put us deeper in debt?
LMAO! John Podesta crawls out from his underground tunnel to make a tweet about Russia’s involvement in the US elections and everybody piles on. OUCH! That’s gonna leave a mark.
https://twitter.com/johnpodesta/status/808398457140609024
Priceless. No wonder they want censorship.
Wow. Just wow….
I, for one, would like to know where this Eric Braverman is.
LOL Next thing is he’s gonna say it’s Putin’s fault those boys can’t sit down
Isn’t undermining elections a CIA specialty?
“Isn’t undermining elections a CIA specialty?”
And therein lies the problem. “First they came for Iran, and I did not speak out because I was not Iranian. Then they came for Chile, and I did not speak out because I was not Chilean….etc.”
“I do not think we should have pushed for an election in the Palestinian territories. I think that was a big mistake,” then-New York Senator Clinton told the Jewish Press, a New York-based weekly newspaper, several months after the January election.
“And if we were going to push for an election, then we should have made sure that we did something to determine who was going to win,” she said.
So - it’s almost the middle of December and the Fed continues to hold it’s interest rate low.
The longer they do that the lower the interest charges on the federal debt which will make the outgoing President look better for comparison purposes.
Too bad that sort of thing can happen.
In time they will be irrelevant. Sit back and enjoy the show.
trump is rumored to pile on more debt for a fiscal stimulus so he needs yellen to buy more treasuries with QE4.
As for corporate tax cuts how little do they want them to pay?
I believe last year corporations paid 300 billion in taxes.
Income taxes from individuals about 1.5 trillion.
Payroll taxes about 1.1 trillion.
Other taxes ~ 300 billion.
Corporations already pay peanuts compared to individuals.
Mañana…
I just heard the door slam shut on a RageCage.
https://www.youtube.com/watch?v=jSH3a5kzGgE
Wut? Do tell.
Asking prices for Central London home prices are plunging. Merry Christmas, FBs!
https://www.bloomberg.com/news/articles/2016-12-12/christmas-joy-eludes-london-housing-as-asking-prices-plunge
You mean to tell me…when you vote yourself endless benefits that someone else has to pay for, that model of governance is unsustainable?
http://www.miamiherald.com/news/nation-world/world/americas/venezuela/article120451593.html
UK is looking at “a really sobor [housing] market next year.” Be afraid, UK FBs. Be very afraid.
http://www.telegraph.co.uk/property/house-prices/house-prices-fall-london-amid-general-slowdown-across-uk/
Eventually, the Keynesian lunatics at the central banks will run out of road for can-kicking and true price discovery (and economic insolvency) will be the result for people and governments that lived beyond their means.
http://www.telegraph.co.uk/business/2016/12/12/greece-faces-permanent-crisis-imf-warns-bail-out-plan-simply/
Hillary, The Great Feminist, will cravenly ignore her Saudi patron’s arrest and probable flogging of a woman who went without her headscarf.
https://www.theguardian.com/world/2016/dec/12/saudi-arabia-headscarf-woman-twitter-arrest
I am going to protect and serve the hell out of you, citizen!
http://www.independent.co.uk/news/world/americas/unarmed-73-year-old-francisco-serna-dementia-shot-dead-us-police-california-bakersfield-a7471216.html
Taxpayers will bear the staggering financial and social costs of the globalists’ insane drive to import more Democrat-on-Arrival migrants.
http://www.breitbart.com/big-government/2016/12/12/agency-spends-100-million-transporting-migants/
Sobbing Clinton supporters never gets old. Cry it out, snowflakes! Trump is still your president!
https://www.yahoo.com/news/clinton-supporters-sob-during-appearance-172951004.html?.tsrc=jtc_news_index
And just like that, the UK housing bubble hits its apex and starts its decline.
http://www.businessinsider.com/ons-house-price-index-london-property-prices-are-falling-2016-12
good morning debt slaves!
“The largest share of fiscal 2015’s record-setting tax haul came from the individual income tax. That yielded the Treasury $1,540,802,000,000. Payroll taxes for “social insurance and retirement receipts” took in another $1,065,277,000,000. The corporate income tax brought in $343,797,000,000.”
Corporations dont pay sh@t after all the fuzzing accounting gimmics.
$344 billion isn’t exactly a worthless turd. It’s almost half a TARP bank bailout.
What happens to the other 2/3 of corporate profits? Must be something awful according to your analysis.
Corporations don’t pay income taxes; their customers pay the corporate taxes.
You win some:
Kanye West to Trump Tower:
http://www.zerohedge.com/news/2016-12-13/meanwhile-kanye-west-arrives-trump-tower
You lose some:
Rick Perry picked for Energy:
http://www.zerohedge.com/news/2016-12-13/trump-picks-rick-perry-lead-energy-department-he-wanted-do-away-2011
Looks like Energy may have its last “czar”.
Dimwits, cronies, and liars, oh my!