January 4, 2017

It’s Going To Be A Renter’s Market In 2017

A report from KJZZ in Arizona. “The short-term outlook for the Valley’s apartment market may be more attractive to renters than investors. Rent growth in the Phoenix market peaked in May 2016. That’s when the average rent jumped more than 8 percent from May 2015. Nick Fitzpatrick, an analyst with Axiometrics, said pent-up demand and job growth led developers to build about 6,800 new apartments in the Phoenix market last year. He expects about 6,500 new units this year, along with slower rent growth. ‘The amount of new supply that’s coming in isn’t really out of the norm for Phoenix during other cycles so I don’t think there’s any fear there that we’re going to see a bubble burst,’ he said. ‘That demand is still there so I think Phoenix is going to be okay.’”

From Twin Cities Business in Minnesota. “The past few years have been good ones for commercial real estate in the Twin Cities. But some signs indicate that the pace of deals is starting to taper. Some brokers in all sectors are seeing signals of caution. ‘We’ve seen kind of across-the-board slowdown in activity in the second half of 2016,’ says Steve Shepherd, a vice president with the Twin Cities office of Colliers International. ‘I think we’re seeing signs on the street that it’s slowing down even on [Interstate] 394, which was one of our hottest markets.’”

“Shepherd says that he’s hearing similar reports from his Colliers colleagues nationally. He notes that he’s seen both job growth and business confidence start to soften.”

From Bostinno in Massachusetts. “Good news, you savvy urbanite, you: Compared with the beginning of January 2016, median one-bedroom rent prices in the Greater Boston area are actually down a whopping 5.9 percent. According to Zumper’s national rent report for January 2017, the median price for a one-bed in these parts is now $2,250 per year, down 5.9 percent compared to last January, while a two-bedroom apartment will cost you about $2,600, down 2.3 percent year over year.”

The Miami Herald in Florida. “Good news, renters: It’s getting cheaper to live in downtown Miami, as developers deliver a bounty of new condos and rental apartments in 2017. In 2017, developers are expected to complete nearly 6,350 condo and rental apartment units, the most in a single year during this real estate cycle, according to the DDA. (For the first time, the majority of those units are rentals, reflecting Miami’s rapidly cooling condo market.) Developers already delivered more than 4,700 units in 2016.”

“In other U.S. cities, big jumps in the number of luxury apartments are leading to over-supply — and good deals for renters. According to the Wall Street Journal, landlords in New York City, Los Angeles and Houston have begun offering perks including several months of free rent, free parking and no security deposits. ‘Landlords are trying to retain tenants because [tenants] now have these new options,’ said Anthony Graziano, of Integra Realty Resources, who authored the report. ‘It’s going to be a renter’s market in 2017.’”

The Pittsburgh City Paper in Pennsylvania. “Pittsburgh’s luxury-housing boom will grow tired like a mule after a long day plowing the fields. It might not feel like it, with 1,500 luxury units under construction and slated for construction in 2017, but the apartment and condo boom that has taken over many city neighborhoods is headed for a cooling-off period. In fact, we predict luxury apartments could go out of style faster than whale-blubber torches after that Edison fellow invented the light bulb.”

“John Petrack, of the Realtors Association of Metropolitan Pittsburgh, says that while many new homeowners and renters moving to Pittsburgh are fancy chaps with large salaries, developers ‘probably over-developed’ luxury rental units over the last several years. ‘In terms of high-end rentals, because of the number of units online, that will become a relatively soft market,’ says Petrack. As a result, many of the luxury units will lower their rents or offer incentives to attract residents, according to Petrack.”

From BusinessDen in Colorado. “BusinessDen surveyed 23 large apartment buildings, 17 of them in 2015 and 2016, totaling about 6,300 units. Many apartments in the survey are part of the residential building boom sweeping the city over the past three years. Some landlords are pitching real deals; five of the 17 buildings polled twice, in 2015 and 2016, decreased effective rent. In Golden Triangle, for example, The Acoma used to be the only high-end apartment tower. In 2015 it rented one bedrooms at $1,945 a month and laughed at any prospects asking about a discount. Now it competes with the new 1000 Speer, called The Joule before it sold for a record price per unit.”

“Both towers have caved into doling out specials. The Acoma is offering a free month of rent, causing effective rent to drop 11 percent to $1,725 per month. At 1000 Speer, which claims it is 70 percent leased, the deal on the table for renters this December is far better than last year: one and a half months free, plus a $150 break on fees and three months of free parking. Effective rent comes out to $1,562 a month, even leaving the parking perk out of the equation. Compared to a new renter at 1000 Speer last year, a new renter today would have saved $450 in 2016.”

“The only other building to drop effective rent by more than 5 percent was 2785 Speer, a gargantuan complex with 332 units that towers over Speer Boulevard at the edge of the Highlands. That building dropped effective rent 9.5 percent in 2016. The march of new construction goes on in central Denver. At least 5,000 more units in central Denver are set to start leasing in the next two years, by a BusinessDen tally. Those new units pose competition for established properties, says Jonathon Papsin, a real estate broker at Colorado & Company who specializes in residential leases at high-end properties downtown and in Cherry Creek.”

“‘I struggle with understanding where rents are headed right now,’ Papsin said. ‘But base rents will have to come down, just because Denver wages haven’t kept up with rental raises.’”

From KPBS in California. “San Diego rent prices continued to go up last month, but the speed of that climb has slowed significantly. ‘San Diego saw really large rent increases in 2015 and early 2016 — in the order of 6 to 8 percent over a year ago,’ Woo said. ‘But starting in the middle of 2016 and continuing through this past month, those actually dropped quite a bit.’”

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Comment by Ben Jones
2017-01-04 09:36:11

‘In 2015 it rented one bedrooms at $1,945 a month and laughed at any prospects asking about a discount. Now it competes with the new 1000 Speer, called The Joule before it sold for a record price per unit.’

‘Both towers have caved into doling out specials. The Acoma is offering a free month of rent, causing effective rent to drop 11 percent to $1,725 per month. At 1000 Speer, which claims it is 70 percent leased.’

Note: ‘it sold for a record price per unit’

The CRE bust is on. I guess with the election over and since the WSJ fired the MSM alarm, it’s OK to acknowledge everything isn’t so awesome. Of course, readers here have know rents have been falling for over a year and that this crash was baked in the cake.

Comment by Apartment 401
2017-01-04 12:19:10

Downtown Denver is soooo overrated.

Comment by In Colorado
2017-01-04 12:52:31

But what about the walk index?

Comment by new attitude
2017-01-04 13:20:10

Denver used to be cool, before all of so cal moved there and brought on the horrible traffic and sprawl.

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Comment by In Colorado
2017-01-04 14:45:35

FWIW, I’d say that more people moved here from the midwest than from California. Californians are afraid of the winters and the snow. They move to Nevada, Arizona, Oregon, Washington, New Mexico and and Texas.

Comment by MightyMike
2017-01-04 14:50:16

That explains the coal rolling.

Comment by PitchforkPurveyor
2017-01-04 13:25:39

I don’t know what’s changed in Denver over the past 15 years or so, but I remember downtown as being a total dump.

Comment by sleepless_near_seattle
2017-01-04 14:24:25

Everything was a dump 15 years ago. Fast forward 15 years and now it’s luxury everywhere. Got free money?

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Comment by In Colorado
2017-01-04 14:47:00

It still is a dump. I go there once a year to attend Denver Comic Con and you couldn’t pay me to move there.

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Comment by alphonso bedoya
2017-01-04 17:30:15

Are they selling MTG cards at the Comic Con?

Comment by In Colorado
2017-01-04 21:58:08

There are a ton of vendors upstairs in the convention center, so I would guess that the answer is yes.

Comment by Ben Jones
2017-01-04 09:39:17

These don’t include incentives, which can double or triple the true declines:


– Seattle, WA sunk two spots to the tenth most expensive rental market. Prices for one bedroom units were down by 2.2% to $1,790 while two bedroom units were down 3.6% to $2,400. Prices for one bedroom and two bedroom units are still up 8.5% and 5.3% compared to last year.

– Washington, DC although maintaining its ranking, saw one bedroom prices fall by 2.9% to $2,030 this month and are down 5.6% since last year. Prices for two bedroom units were also down, falling 1.5% to $2,640 and down 7.7% since December 2015.

– Pittsburgh, PA fell by one as rent took a dive this month. One bedroom units dropped sharply to $1,210 and two bedrooms were down to $1,330, marking declines of 4.7% and 5% respectively. Rent however is on a steep rise as year over year rates hover around 14% for both types of apartments.

– Baton Rogue, LA fell by five spots this past month, as rents for one bedroom plunged by 4.8% to $800 while two bedroom unit prices dipped to $950, marking a 3.1% decrease.

– Denver, CO saw prices fall this past month but still ranked at 24th. One bedroom apartments slipped 2.5% to $1,190 and two bedroom rents dropped by 1.9% to $1,570.

1 0 San Francisco, CA $3,350 0.6% -4.0% $4,510 0.2% -2.6%
2 0 New York, NY $2,980 -0.7% -9.1% $3,400 0.0% -10.5%
3 0 Boston, MA $2,250 0.4% -5.9% $2,600 0.8% -2.3%
4 0 San Jose, CA $2,170 -1.4% -1.4% $2,600 -1.5% -7.1%
5 -1 Oakland, CA $2,090 -5.0% -5.4% $2,560 -4.8% -3.0%
6 0 Washington, DC $2,030 -2.9% -5.6% $2,640 -1.5% -7.7%
7 0 Los Angeles, CA $1,990 -2.0% 3.6% $2,880 -3.7% 3.6%
8 1 Chicago, IL $1,860 2.2% -5.6% $2,510 2.0% -4.6%
9 1 Miami, FL $1,800 0.0% -1.1% $2,500 0.0% -0.8%
10 -2 Seattle, WA $1,790 -2.2% 8.5% $2,400 -3.6% 5.3%

Comment by Sacks of Dong
2017-01-04 14:33:11

“Seattle sunk…”
Unpossible. Seattle is a magical place where this cannot happen because Microsoft and stuff.

Comment by redmondjp
2017-01-04 15:50:48

No, Microsoft is so 1990s.

Amazon is the big dog in town now.

Comment by The Enrager
2017-01-04 15:51:55

Amazon still losing money hand over fist.

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Comment by Justme
2017-01-04 16:27:16

Maybe the Microsoft comment was meant in a sarcastic way, vs. Amazon.

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Comment by The Enrager
2017-01-04 16:42:18

Falling prices my friend…… Falling prices.

Comment by Ben Jones
2017-01-04 09:43:50

‘Attention, Groupon Shopper: Free Rent in San Francisco’

‘Thanks to about 35 percent more units coming on the market in 2017 than on average over the last 20-year period, investors are offering free rent concessions to move empty apartments.’

‘More than 50,000 new apartment units in the U.S. were rented by tenants in the quarter ending in December 2016. Despite that being six times the number in the year-earlier period, market demand was swamped by the 88,000 new apartment units completed in the same period, the highest number since the 1980s, according to MPF.’

‘To address the supposed “chronic lack of apartment supply” following the Great Recession, Wall Street has been channeling about $6 billion a month into U.S. real-estate mutual funds and exchange-traded Real Estate Investment Trusts (REIT), according to Morningstar. It is now estimated that as a result of this massive investment, 378,000 new apartment units will be completed in 2017.’

‘High tech communities in Silicon Valley, Seattle and Los Angeles’s Silicon Beach, which had led the nation in rent inflation for over the last five years, also saw average rents fall by about 8 percent in the first half of 2016. As we pointed out, those falling “average” rents were actually about higher-priced units plunging and low-priced rentals being stable.’

‘The Wall Street Journal suggests that luxury apartments in New York City and San Francisco are lowering their prices because of new and even more luxurious units being completed. Many brand-new complexes that offer super high-end amenities that include rooftop decks, state-of-the-art gyms and bike rooms are offering free rent during what is called the “lease-up” period until they “stabilize” at around 90 percent occupancy.’

‘Developers “want to get heads in beds as quickly as possible,” according to Alexander Goldfarb, a San Francisco analyst with Sandler O’Neill + Partners. He suspects that with so many buildings opening around the same time, the incentives are getting bigger and spreading to somewhat older buildings that compete with new ones.’

‘As an example, at least four new luxury apartment buildings — Jasper, 340 Fremont, 399 Fremont and Solaire — have opened over the last 18 months within a 3-block radius of San Francisco’s trendy South of Market neighborhood, referred to as SoMa. Despite the buildings being in “rent-up” for some time, none seem to have “stabilized” at around 90 percent occupancy, because they are all still advertising freebies for prospective renters.’

‘Because SoMa, South Beach, Mission Bay and Potrero Hill are San Francisco’s ground zero for new luxury construction, rent concessions there are rampant. But non-luxury renters shopping on Craigslist can find plenty of free rent offers in the Tenderloin and Hayes Valley neighborhoods, and more than a dozen Bay Area cities, including Novato, Tiburon, San Mateo, Redwood City, Santa Clara, Pleasanton, San Ramon and San Jose.’

‘MPF Vice President Jay Parsons reports that developers in New York are offering up to three months of free rent on some projects; Los Angeles landlords are offering six months of free parking; and some in Houston developers are waiving security deposits.’

‘Parson expects little or no rent growth in urban rental markets this year. He commented: “This will be a very challenged leasing environment almost everywhere.”

Comment by justthefacts
2017-01-04 09:47:51

Given my profession, I will actually benefit from a CRE crash. Commercial loans going bad is how I make money. But I’ve gone back and looked at your posts over the last two years (not all, but several). You’ve been saying the crash is here that whole time, and posting articles about falling prices and slowing sales, etc. I have nothing to gain from you being wrong. But why should anyone believe you that the crash is here, when you’ve been posting articles like these since at least 2013?

Comment by Ben Jones
2017-01-04 09:59:23

‘you’ve been posting articles like these since at least 2013′

No I haven’t. In 2013 there were reports of renters in San Francisco making offers over asking. This thing really cracked in early 2016 when Equity Residential went from a very bullish forecast after the first quarter to lowering rents in the second quarter. Now Manhattan has been a buyers market from some time in 2015, but outside of Houston, parts of Hawaii and North Dakota, apartments weren’t having these problems until 2016. Certainly not Seattle which only tipped down in the last 3 or 4 months. Please get your time lines straight before you pop off at me, because I know a lot more than you Mr Professional.

Comment by Price Discovery
2017-01-04 10:44:52

Professional hack at best.

Comment by Professor Bear
2017-01-04 19:25:53

“Mr Professional”

Was he lying, or just offering an unnecessary display of immature ignorance?

Comment by The Enrager
2017-01-04 19:42:19

Years of pent up enragement over unsuccessful attempts to coerce the blog owner into censoring.

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Comment by Raymond K Hessel
2017-01-04 10:02:42

Another sweating RE “investor” just self-identified.

Comment by Ben Jones
2017-01-04 10:09:43

It’s just been in the past week I found the first report of weakness and concession in Nashville, the last can’t lose market. Phoenix isn’t down or down much, but they are building 500% more apartments than usual. And it’s almost all luxury. I have been pointing to the excess of luxury in student and senior housing and I said it would crash, but it has only just arrived.

This reminds me of people who say, “you’ve been saying housing would crash for ten years”. Uh, it did crash, remember?

Comment by Avg Joe
2017-01-04 10:49:31

Exactly - I’ve been reading here for more than 10 years, and I remember the articles being posted were about all the overbuilding and inflated start numbers, not about any price weakness.

That only just started recently. My lease here in Seattle comes up for renewal in the spring, it’s going to be interesting to see what the LL decides to do.

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Comment by PitchforkPurveyor
2017-01-04 13:33:22

The problem in this country is there are many more clueless hacks and know-nothings parroting the MSM and the special interest shills’ shtick than there are educated and informed people refuting it. The truth is found in only a small minority of us who actually care to know what’s really going on vs what the PTB want us to believe.

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Comment by Professor Bear
2017-01-04 19:27:21

“Uh, it did crash, remember?”

Perhaps the Fed’s Housing Price Reflation program, that began in early 2012, erased their memories?

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Comment by PitchforkPurveyor
2017-01-04 13:28:48

^^The butthurt is strong in this one…

Comment by Jingle Male
2017-01-05 08:28:39

“why should anyone believe you that the crash is here…”

I don’t think anyone has stated a crash is here. Markets go up and down all the time. Today, the luxury apartment market is overbuilt. Developers and lenders will see some stress, high end renters will see some lower rents. Corrections happens all the time.

The single family housing sales and appreciation took a breather in my market in 2015, then picked back up again in 2016 and are probably going to be strong 2017. That was a correction that added health and strength to the market.

I just finished reading Michael Lewis’ new book, “The Undoing Project”, which is about perception vs reality in decision making. One of the biggest factors contributing to erroneous perceptions is the using of the most recent past events to assume the next event will be just like the prior one. The housing bubble bust of 2007 will look very different from the housing downturn which is bound to occur in the next few years.

If your only tool is a hammer, everything you see is a nail. If you survived the Holocaust, Donald Trump may resemble Adolf Hitler. If you suffered in the Great Recession, every correction looks like a Depression. Stay balanced.

Comment by The Enrager
2017-01-05 11:36:48

With housing demand at 20 year lows and falling, there is no health and strength to the market.

Comment by Jingle Male
2017-01-05 13:50:41

The market in the Sacramento foothills is very solid.

The rental market for SFR is very tight. People call my wife looking for houses for friends who can’t find a place to live. The average tenancy term is over 4 years and my vacancy the last 8 years has been less than 1/2 of 1% (ie: occupancy is 99.5%)

The sale market drifted off in 2015 but is doing well now. Home builders are selling everything they build, though they are only building about 5,000 homes/year vs the 15,000/year they built in 2006. Land planners have resumed getting lots approved, since there is little to no surplus.

This is not a market with “housing demand at 20-year lows and falling”. It is active with good demand.

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Comment by The Enrager
2017-01-05 17:11:43

Incorrect my friend. In fact housing demand cratered 8% YoY and it’s down at 1998 levels.


Comment by Professor Bear
2017-01-04 09:52:49

Rent growth is slowing or rents are already beginning to fall, especially if incentives are considered, despite near record low unemployment.

The next recession is going to be a doozy for real estate investors!

Comment by Raymond K Hessel
2017-01-04 10:01:36

Rent growth is slowing or rents are already beginning to fall, especially if incentives are considered, despite near record low unemployment.

94.5 million Americans “out of the work force” belies the “record low unemployment” meme and our Soviet-style BLM statistics.

Comment by SW
2017-01-04 10:41:37

I agree it will be a doozy. Looks like it’s accelerating every month since fall of 2016.

Comment by Professor Bear
2017-01-04 19:29:44

The other thing I have noticed since starting to pay attention to U.S. housing cycles is that slowing rent and home price gains tend to lead, rather than follow, recessions. This could be due in part to how Fed policies tend to drive the lemming herd into housing, up until the point when further price appreciation becomes unsustainable.

Comment by Palm Beach County
2017-01-04 09:57:23

Mark Hanson ‏@MrMarkHanson 1d1 day ago
Mark Hanson Retweeted Jesse Felder
APARTMENT BUST 2.0: Core markets across US saw sharp weakness, esp at the mid-to-high end while developers turned on supply afterburners.Mark Hanson added,

Jesse Felder @jessefelder
Luxury Apartment Boom Looks Set to Fizzle in 2017 http://www.wsj.com/articles/luxury-apartment-boom-looks-set-to-fizzle-in-2017-1483358401

Comment by justthefacts
2017-01-04 10:07:36

“Please get your time lines straight before you pop off at me, because I know a lot more than you Mr Professional.”

Calm down, man. It was just a question. I didn’t pop off at you. Like I said, I’d prefer that you be correct. Also, I didn’t say nothing’s changed since 2013. I just said that you posted plenty of articles about home prices dropping even back then. If you’re a bear about any financial issue for long enough you’ll eventually be right. I’m just looking for more explanation of why falling rents now is any different than falling home prices in California in 2013. Why did the latter not have any immediate dire consequences while you expect the former to?

Comment by Ben Jones
2017-01-04 10:14:43

Your time lines are messed up. California (and others) house prices dipped in late 2014. Then took right back off in early 2015. I have noted FHA and FHFA did some loosening about that time. In February 2015 I posted a report from the Mercury News with a flipper saying he had “overpaid”. By May it was hundreds of thousands over asking again. In late summer of 2014 the Denver Post had a UHS saying “sellers were chasing the market down.” And we all know it didn’t stick.

Comment by Ben Jones
2017-01-04 10:57:24

This is how full of it this guy is: I helped some people buy apartments in April 2014 and started managing them: a 12% cap rate. I moved to the Phoenix area in summer of 2014 and started to hear this multifamily radio show. It took me a few months to realize (and I mentioned it here) that these guys were using crazy talk. New paradigm, never, ever going to end. Can’t lose on apartments. Cash-out refinancing like crazy. It was probably late in 2014 I even realized there was an apartment bubble. Then I started drilling down on the luxury trend, the value add thing that was soaking up affordable apartments by the tens of thousands. Portland Maine: rents up 40% in 3 years and returns dropped from 9% to 7%. Obviously people were paying huge amounts more than just a few years before and that continues to this day. Oh but I’m supposed to have been saying something since 2013 that I only figured out in late 2014.

Look at the Minnesota article: it’s office and retail as much or more than apartments. NYC just had a 4.3 million sq ft negative absorption in offices. Now it’s gone negative in Dallas and Minneapolis, two of the hottest CRE markets in the country.

Comment by phony scandals
2017-01-04 11:06:16

“rents up 40% in 3 years and returns dropped from 9% to 7%.”


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Comment by Ben Jones
2017-01-04 11:13:00

This is the sort of thing I’ve been posting:

‘Philly’s increasing lack of affordability is highlighted in a new report, which finds that the city lost 20 percent of low-cost rental units between 2000 and 2014 according the Federal Reserve Bank of Philadelphia’s latest analysis, which highlights the impact of gentrification on low-cost rental housing.’

‘Specifically, the city lost 23,628 units with rents that fell below the $750 threshold between 2000 and 2014. The researchers found that gentrifying neighborhoods were hit hardest by this loss. These areas—think Center City and University City—have lost low-cost rental units at five times the rate as non-gentrifying neighborhoods.’

‘The researchers used $750 as the low-cost price point because in Philly that number is considered affordable to someone who makes about $30,000 a year, which is just above the city’s median income.’

‘As the chart dictates, while Philly lost a significant chunk of apartments with rents below $750, housing stock in every other price range increased between 2000 and 2014. The three census tracts that lost the most low-cost units were University City, Holmesburg, and Center City near Jefferson.’

‘Dwindling supply of affordable rental housing is a serious issue in metros nationwide, but it’s particularly prevalent in Philadelphia, given that it has the highest poverty rate of all major metros in the nation. In addition, even more recent Census data shows that more than half of Philly renters are cost-burdened, meaning they spend more than 50 percent of their income on rent.’

Of course rents were up. They chopped off the low stuff and turned it into more expensive housing. Then they all point to rising rents and say, “see, it’s never going to end!”

Comment by PitchforkPurveyor
2017-01-04 13:37:31

The spiking rents seem to reverse course fairly quickly, giving way to concessions amid a glut of inventory. The money just isn’t there. You can’t dictate rents for long when wages don’t support them. You get what we have now- spiking vacancies.

Comment by Karen
2017-01-04 19:01:42

‘The researchers used $750 as the low-cost price point because in Philly that number is considered affordable to someone who makes about $30,000 a year, which is just above the city’s median income.’

If that’s the case, then the more accurate term for this level of rental housing would be “middle class housing units”. Just another indicator of how distorted this thing has become.

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Comment by In Colorado
2017-01-04 14:37:09

Dude, we have an unspoken rule here at HBB: don’t puke on Ben’s carpet.

Comment by Lurker
2017-01-04 17:52:55


We are all fortunate to enjoy Ben’s vast expertise for free right now, but he should charge this guy a consulting fee for answering the same questions Ben will no doubt be paid mucho dinero in the future to answer, explaining to people what exactly happened to them over the past few years, and how it happened and when.

Comment by The Enrager
2017-01-04 18:08:15

The Crater Administrator enrages many with truth.

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Comment by Professor Bear
2017-01-04 19:31:27


Fixed it!

Comment by Raymond K Hessel
2017-01-04 10:08:54

Wow…Chinese must be frantic to get their embezzling proceeds out of China by any means necessary before REAL capital controls are imposed.


Comment by new attitude
2017-01-04 10:30:34

Call an Irvine, CA Realturd, I am sure they can help. Fake Yuan for real property. Easier than ground troops.

Comment by justthefacts
2017-01-04 10:10:25

“Another sweating RE “investor” just self-identified.”

Believe me, I’m not a real estate investor. But I have no problem with real estate investors. That said, the more they default on their loans, the more work I have to do.

Comment by Raymond K Hessel
2017-01-04 10:12:29

Whatever you say, Chief.

Comment by phony scandals
2017-01-04 10:29:31

“That said, the more they default on their loans, the more work I have to do.”

You’re the dude the bank sends around to look at the house after it goes into and remains in default like they did for my 2 Deadbeat Landlords between 2007 and 20011.

Comment by ibbots
2017-01-04 12:00:41

FYI - if you hit the ‘reply to this comment’ link, your reply will show up below the comment you are responding to instead of starting a whole new thread so to speak.

Comment by phony scandals
2017-01-04 13:06:30

justthefacts is an angry elf


Comment by Raymond K Hessel
2017-01-04 10:20:42

Debt donkeys keep financing new cars they manifestly can’t afford. This is not going to end well.


Comment by PitchforkPurveyor
2017-01-04 13:39:15

What could be wrong with $950 per month for 8 years at zero down? Upside down? No problem, roll it over to the new loan…

Comment by whirlyite
2017-01-04 14:41:42

Believe it or not, I drive a 1994 Civic with nearly 300K miles. When it finally gives up the ghost, I will be definitely looking for another Honda. A used one for which I will pay cash.

Comment by new attitude
2017-01-04 20:50:51

New hondas are built in the USA. not as good as the Japanese ones.

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Comment by Professor Bear
2017-01-04 23:11:35

We would be happy to sell you our 2005 Civic. 170K miles under her belt, and she purrs like a kitten.

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Comment by Raymond K Hessel
2017-01-04 10:24:49

I am sitting in the waiting room of my local car dealer, getting a warranty repair on my car. The television is set to NBC, and a gaggle of vapid harpies chattering in a cacaphony of stupidity about nothing that matters. The slack-jawed wonders to my left and right, all middle-aged women, seem enraptured, whenever they look up from their cell phone screens. Dear God, get me out of here right now.

Comment by new attitude
2017-01-04 10:50:41

Air bag recall??

Comment by phony scandals
2017-01-04 10:52:09

“whenever they look up from their cell phone screens. Dear God, get me out of here right now.”

From 1978 through 1988 when I got sober I went to and hung out in a lot of bars from the Northeast to Key West. Bars were filled with people drinking and talking or socializing among other things that time does not permit going into right now.

I still go to restaurants with bars in them but no longer to bars until 2 years ago when someone told me a local bar had really good Buffalo Wings (they were wrong) so I ordered 50 wings over the phone and went there to pick them up.

When I walked in the door I thought I was in a different world, there were like 35 people sitting around the bar all staring at their phones. Nobody was talking to anyone, nobody laughing, no guys were hitting on girls it was like the Twilight Zone.

It was about 6 pm so maybe it changed later but it was definitely a strange thing to see.

Comment by Apartment 401
2017-01-04 12:22:54

maybe it changed later

Yeah, they get alot sluttier on Tinder the closer it gets to closing time.

Comment by CHE
2017-01-04 13:39:16

I started seeing this happening 4 years ago at the gay bars in West Hollywood, CA when the Grindr app came out.

Why hit on someone at the same bar when you could get in contact and hook-up with anyone from all the surrounding bars? or apartments?

I don’t think bars are going away, but there has been a definite shift. Why spend all that money going out to meet someone when you can just fire up your app and hook up with someone nearby?

In regards to the CRE bust - this is also having an effect. Longtime haunts (not just bars, but restaurants, shops, etc) have been pushed out of business and/or prices get jacked up right at the time 20-somethings don’t have the money to spend.

The only time you see the young kids out in full force is at some of the new $2 and $4 vodka busts that have seem to taken over beer busts. That’s not pretty… but keeps those bars filled.

I’m interested to see what happens now that marijuana is legal and what effect that will have on bar business.

Definitely the scene has changed in 10 years.

Comment by Jingle Male
2017-01-05 04:30:45

Legal pot….Yeah, the stoners won’t make it out of the house….

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Comment by rms
2017-01-05 08:38:38

“I’m interested to see what happens now that marijuana is legal and what effect that will have on bar business.”

We’ve had it in Washington state for a couple of years now, and I haven’t noticed anything different… no zombies looking for bare flesh, etc., but I have seen a few pieces in the local paper from uptight church types thinking the end is nigh.

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Comment by new attitude
2017-01-04 10:26:45

no surprise here: Trump cites Julian Assange as proof that Russia didn’t hack Democrats, flouting US intelligence reports.

Same guy who thinks the POTUS was born in Kenya.

Comment by Blue Skye
2017-01-04 13:45:53

Hey Village Idiot.

In situations like this you have to step back and look for someone interested in the truth. There was truth in the leaked emails. Are the CIA and the DNC talking about the truth in the emails or are they talking about who dared to expose the truth. They guy who printed the truth doesn’t need a conspiracy, he just needs a place to hide. The conspirators need to obfuscate and you are a tool.

Hillary tried to rig the election and she fell short.

Comment by MightyMike
2017-01-04 13:48:23

Donald Trump on Edward Snowden: Kill the ‘traitor’

By Cheryl K. Chumley - The Washington Times - Tuesday, July 2, 2013

Edward Snowden, the man at the heart of the NSA information leaks, is nothing but a “traitor” — and America ought to recreate history in dealing with him, real estate mogul Donald Trump said on a “Fox & Friends” interview.

In other words, execute him, Mr. Trump implied.

“I think Snowden is a terrible threat, I think he’s a terrible traitor, and you know what we used to do in the good old days when we were a strong country — you know what we used to do to traitors, right?” Trump said, Politico reported.


Comment by palmetto
2017-01-04 14:32:03

When doing a brisk business in the sale of state secrets, if you all of a sudden realize they’re closing in, blow the whistle, become a hero and run for your life!

Comment by palmetto
2017-01-04 15:37:36

However, I am grateful for the information, for whatever reason it was revealed.

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Comment by new attitude
2017-01-04 20:51:53

Have you seen the movie for another view?

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Comment by Raymond K Hessel
2017-01-04 10:34:14

The ghost of future past (Hitler finds out he’s an FB).


Comment by Palm Beach County
2017-01-04 10:35:40

Bloomberg ‏@business 1h1 hour ago
Harvard Academic says if the latest bond market bubble bursts, it will be worse than 1994 http://bloom.bg/2j9v0Q9

Comment by palmetto
2017-01-04 10:49:14

I’m still in raptures over the “Shumer Clowns”. Is that why there were all those creepy clown sightings a few months ago?

Shumer Clowns.

Comment by phony scandals
2017-01-04 11:21:15

New talking point

Make America Sick Again

Comment by MightyMike
2017-01-04 13:56:29

Is that why there were all those creepy clown sightings a few months ago?

You mean that Trump isn’t actually referring to Shumer? That’s possible.

Comment by new attitude
2017-01-04 10:59:33

DETROIT (Reuters) - General Motors Co on Wednesday reported an unexpected 10 percent rise in December U.S. auto sales while Ford Motor Co also beat forecasts, indicating that 2016 results will beat a record high set in 2015.
“Key economic indicators, especially consumer confidence, continue to reflect optimism about the U.S. economy, and strong customer demand continues to drive a very healthy U.S. auto industry,” said Mustafa Mohatarem, GM’s chief economist.
“We believe the U.S. auto industry remains well positioned for sales to continue at or near record levels in 2017.”

Comment by new attitude
2017-01-04 12:03:59

Another Wall St swamp monster on the team.

Putting the fox in charge of the hens. Great work Donald. Let’s make America great again for Wall Street!

Comment by Apartment 401
Comment by In Colorado
2017-01-04 13:02:17

So now Salon is giving away free “I Love Deplorables” bumper stickers?

Comment by phony scandals
2017-01-04 13:12:32

“Leftism is supposed to be about empathy — standing against Trump without demonizing his supporters is critical”

Said the angry elf


Comment by new attitude
2017-01-04 15:29:56

I have zero empathy for the lazy.

Comment by Raymond K Hessel
2017-01-04 12:29:47

Here comes Yellen the Felon and her flying monkeys with their “Everything is Awesome!” assessment of the economy and their incessant chatter about supposedly pending rate hikes. Yeah, same-old, same-old…only in 2017, instead of pulling her standard “Lucy and the Football” routine every FOMC meeting and not hiking for some lame reason, the bond vigilantes are going to force the Fed’s hand.


Comment by Raymond K Hessel
2017-01-04 12:32:23

Uh-oh…Obama’s efforts to hasten the permanent Democrat supermajority by enabling millions of Democrat-on-Arrival illegals to flood in across our southern border may finally be put in check.


Comment by Raymond K Hessel
Comment by Ben Jones
2017-01-04 12:48:55

Mike isn’t going to like this.

Comment by junior_kai
2017-01-04 15:04:58

I predict Trump might just determine some of the debt was fraud backed and not honor it as a way to reduce our national debt but also send the message that fraud will not be financed by Uncle Sam. That would send one bigly message fo’ sho’.

Comment by Raymond K Hessel
2017-01-04 12:47:21

Debt-fueled consumer spending as main motor of economic “growth” - seems sustainable to me.


Comment by Professor Bear
2017-01-04 19:36:38


Real Time Economics China
China’s Debt Boom Looks Eerily Familiar
The IMF says Beijing must act with urgency to fix the problem before it becomes too late
By Ian Talley
Jan 2, 2017 2:37 pm ET

The International Monetary Fund is still holding out hope China’s government can rein in the country’s dangerous credit boom. But in yet another warning to the world’s No. 2 economy, the world’s last-chance lender says time is running out.

Comment by cactus
2017-01-04 13:05:36

Coastal elites set rules for others, exempt themselves, and tolerate rampant lawlessness from illegal aliens.

Read more at: http://www.nationalreview.com/article/443466/california-madness-hypocritical-coastal-elites-soak-middle-class

Comment by Anonymous
2017-01-04 14:25:16

This reminds me of reading Sowell’s “The Vision of the Anointed” some 20 years ago. And look how much worse things are now.

Comment by Raymond K Hessel
Comment by Professor Bear
2017-01-04 22:04:33

Not Indian farmers, apparently.

Comment by Professor Bear
2017-01-04 23:21:20

Is this War on Cash killing the goose that lays golden eggs because it costs too much to feed it?

Indian Farmers Hit Hard By Government’s Currency Restrictions
January 3, 2017
5:09 AM ET
Heard on Morning Edition
Julie McCarthy

Millions of farmers in India are struggling after the government removed two currency notes from circulation. The government stripped the economy of cash to expose tax cheats.


Maybe some of you out there know this firsthand, but it’s really hard to get around in India without cash. Everything works that way. That’s how you pay your cab driver. That’s how you run a lot of businesses. India is in the middle of changing its currency system, taking some notes out of circulation, and that is wreaking havoc on a whole lot of industries.

Comment by new attitude
2017-01-04 13:25:19

How do you say, “they took urrr jobs” in Spanish?

Comment by DJT
2017-01-04 13:59:38

The only winner here is me. And I’m living in your head rent free.

Comment by In Colorado
2017-01-04 14:42:19

Te chingaron

Comment by MightyMike
2017-01-04 13:58:35

Fast Food CEO Says Higher Minimum Wage Boosts Business

By Sam Harnett
JANUARY 3, 2017

When California began raising its minimum wage two years ago, Bill Phelps and his investors were worried. Phelps is CEO of a fast food company called Wetzel’s Pretzels, which has almost 100 outlets in California.

“Like most business people I was concerned about it,” he said.

The state increased the minimum wage in mid-2014 and just raised it again on Jan. 1 to $10.50 per hour for companies that employ more than 25 people. Smaller businesses will have a delay in implementation, but will follow suit as California moves along on its schedule to reach $15 per hour by 2022.

Phelps and a lot of other fast food CEOs have been worried that wage increases will cut into profits, and that if they raise prices to compensate, fewer people will come eat. So two years ago, Phelps prepared to take a hit. But something else happened entirely. Sales at his California stores immediately shot up.

“I was shocked,” Phelps says. “I was stunned by the business.”

The same exact pattern took place again in 2016, when the minimum wage rose again, Phelps said. There was a wage increase, and then boom, a bump in same-store sales across the state that held for most of the year.

Phelps is now convinced minimum wage increases aren’t bad for the fast food business; in fact, he says, they’re great. Phelps said you can see why if you visit the Wetzel’s Pretzels franchise in Concord’s Sunvalley Shopping Center.


Comment by new attitude
2017-01-04 14:54:31

Lots of restaurants are getting rid of waiters and you order at the counter. If the wait staff takes 20%, in a lot of cases that is more than the owner’s profit margin. Fake min wage will excel this process.

Comment by azdude
2017-01-04 16:26:29

I had to cut back on my wine orders cause home prices weren’t going up as fast as I anticipated in the 4th qtr.

Comment by Professor Bear
2017-01-04 19:37:38

Are you planning to sell your wine holdings into the next real estate crash?

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Comment by Raymond K Hessel
2017-01-05 05:05:58

Soon the only wine you’ll be able to afford is Boones Farm Strawberry Hill.

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Comment by taxpayer
2017-01-04 15:33:50

why not $17 ?
Fidel could answer that

Comment by Big Fat Ugly Bubble
2017-01-04 16:06:47

-> “With the minimum wage going up, he believes everybody is a winner. His employees have gotten a raise. His CEO is getting big numbers. His customers can buy more pretzels. And Jacobs can buy more guitars.”

Well MightyMike, you have proven me wrong. That is magical. Fire up the printing presses! Full steam ahead! Heh.

Comment by MightyMike
2017-01-04 16:42:59

The article doesn’t have much to do with printing presses.

Comment by Big Fat Ugly Bubble
2017-01-04 16:34:50

Honestly, it doesn’t even matter anymore. Why not just cut to the chase and begin the universal income checks for everyone. It’s the moral thing to do. $5000/month for each person in California. That should be enough to live on.

Comment by Big Fat Ugly Bubble
2017-01-04 18:10:59

This is a good article describing the amount of different types of jobs affected by the minimum wage hike, by geography. In rural areas, there are quite a bit more types of jobs affected vs. city areas. It seems like a mixed bag. There are stories of businesses both closing up shop and/or moving because of the wage hike, but then on the other hand — yeah, that pretzel company is different. (Note: They were highlighting a franchise in Concord, CA, which is a pretty nice town in the bay area).

Anyway, it’s a good read, interesting data.


“For economists, then, California’s hike is exciting, a valuable test of the effects of a big wage hike. But for the workers and businesses that will be the guinea pigs, it could be a nerve-wracking experiment. The higher wage could bring up standards of living, inject more money into the economy and turn out to be a win-win for workers and businesses. Or it could lead to lost jobs and higher prices, ultimately hurting the very workers it was designed to help. Or perhaps both. There will almost certainly be both winners and losers, but no one knows how many of each, or whether the benefits will prove worth the cost.”

Comment by Big Fat Ugly Bubble
2017-01-04 18:46:25

One last comment about the pretzel company and their rise in sales after hiking the minimum wage. They are assuming the sales increase is because of the minimum wage hike. They say so:

“The same exact pattern took place again in 2016, when the minimum wage rose again, Phelps said. There was a wage increase, and then boom, a bump in same-store sales across the state that held for most of the year. Phelps is now convinced minimum wage increases aren’t bad for the fast food business; in fact, he says, they’re great.”

This means the (new) customers responsible for buying all these pretzels (and causing sales to rise) are the same people who are the minimum wage workers. Which, in the bay area, primarily consists of retail clerks, etc.

My question is — why are the people in minimum wage jobs in the bay area blowing their new wage windfall on pretzels at the mall?

Comment by Big Fat Ugly Bubble
2017-01-04 19:04:08

Actually, my bad, it’s not just the bay area — they said they get state-wide increases of pretzel sales whenever the minimum wage goes up.

Mostly, Wetzel’s Pretzels is concentrated in the cities, but they do have inland stores too. Here is from their web site: http://imgur.com/gBtoZsj

So, these minimum wage workers blowing their money on pretzels is not just a city phenomenon.

Comment by Big Fat Ugly Bubble
2017-01-04 19:39:15

Sorry replying again on this topic, I can’t keep shut. :)

It is valid to wonder *how* all this new minimum wage money is going to be spent by the minimum wage workers. Are they going to save it? Are they going to pay off debt? Enroll in a technical school, learn a trade or skill?

Nope. They are going to buy weed with it. And pretzels, pizza, etc.

The legislators timed it perfectly too, now that California is 100% legal now for recreational use. Weed, man. Those are the people who will be the main beneficiaries of the minimum wage hike.

Comment by Karen
2017-01-04 19:49:00

The adults on this blog know that correlation is not causation.

Comment by Big Fat Ugly Bubble
2017-01-04 21:18:35

Yes, they make some assumptions, but I went with it for the sake of argument, and even if it is true, the example is not a very ringing endorsement for the wage increase. Basically, the article says how great it is helping out a bunch of minimum wage stoners buy more pretzels, for their munchies. :)

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Comment by Jingle Male
2017-01-05 04:49:11

…And getting stoned and eating refined carbs is going to make the much better employees…Not.

Comment by The Enrager
2017-01-04 14:12:16

I got a brief glimpse of the BanVan wheeling through the neighborhood today. It was hauling a trailer full of RageCages.

Comment by Senior Housing Analyst
2017-01-04 14:24:55

“Even Single-Family Rentals Sink in Once Hottest Markets”


Comment by taxpayer
2017-01-04 14:42:07

Movoto appears broken
shows inventory numbers that are silly
280 for sale ion san fran ?????

Comment by Jingle Male
2017-01-05 04:55:09

If only we could comprehend your messages. Are you are trying to make a point about Novato? …Or housing in I-80? Is inventory silly high/low or silly ha-ha?

Comment by Larry Littlefield
2017-01-04 15:19:55

If plunging rents prevent the next generation from becoming FBs, I’m all for it. For-sale price are up significantly year-over-year, according to the NAR. Why? Don’t panic and buy.

Comment by aNYCdj
2017-01-04 15:43:46

why buy when the parents can leave the house to you. only real downside i see is you have to be financially responsible, you just don’t want to file BK owning a house with your parents still living in it.

Comment by The Enrager
2017-01-04 15:44:31

Depends on where. Prices in cities are diving.

Comment by azdude
2017-01-04 16:28:44

I pulled some equity and had a nice dinner here:


Comment by azdude
2017-01-04 15:48:38

If home prices fall people will get bailed out again. There is a huge incentive for prices to remain high. Property taxes bring in a lot of tax revenue.

It all keeps working cause of the credit and ability to finance. The credit is created out of thin air.

They have made it very hard to operate without the banks involved.

Comment by Big Fat Ugly Bubble
2017-01-04 16:51:33

> “If home prices fall people will get bailed out again.”

You’re probably right. Or, if not, you just stiff the lender and get another loan in a couple years. Who cares. It’s just a number in a computer.

Ain’t it great living in a consequence-free world?

Comment by azdude
2017-01-04 17:41:12

central planning at its finest!

Comment by Senior Housing Analyst
2017-01-04 16:02:37

Ashland, OR Housing Prices Crater 6% YoY


Comment by azdude
2017-01-04 17:46:47

the best feeling in the world is getting free money for buying something.

Comment by Raymond K Hessel
2017-01-04 19:33:24

And when it all comes crashing down, you’ll claim you sold at the top.

Comment by azdude
2017-01-04 19:47:28

raging ray!

why do u overpay?

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Comment by The Enrager
2017-01-04 20:13:44

^ Poet said a funny! :mrgreen:

Comment by phony scandals
2017-01-04 16:11:12

Canned Heat - Going Up The Country


US Top 40 Singles for the Week Ending 4th January, 1969

TW LW TITLE –•– Artist (Label)-Weeks on Chart (Peak To Date)

1 1 I HEARD IT THROUGH THE GRAPEVINE –•– Marvin Gaye (Tamla)-7 (4 weeks at #1) (1)
2 2 FOR ONCE IN MY LIFE –•– Stevie Wonder (Tamla)-10 (2)
3 7 I’M GONNA MAKE YOU LOVE ME –•– Diana Ross and the Supremes and the Temptations (Motown)-5 (3)
4 16 SOULFUL STRUT –•– Young-Holt Unlimited (Brunswick)-6 (4)
5 4 WICHITA LINEMAN –•– Glen Campbell (Capitol)-10 (4)
6 10 CLOUD NINE –•– The Temptations (Gordy)-8 (6)
7 3 LOVE CHILD –•– Diana Ross and the Supremes (Motown)-12 (1)
8 5 STORMY –•– The Classics IV Featuring Dennis Yost (Imperial)-11 (5)
9 8 WHO’S MAKING LOVE –•– Johnnie Taylor (Stax)-11 (5)
10 13 HOOKED ON A FEELING –•– B.J. Thomas (Scepter)-8 (10)

11 9 I LOVE HOW YOU LOVE ME –•– Bobby Vinton (Epic)-10 (9)
12 12 CINNAMON –•– Derek (Bang)-11 (12)
13 23 TOO WEAK TO FIGHT –•– Clarence Carter (Atlantic)-9 (13)
14 26 LO MUCHO QUE TE QUIERO (The More I Love You) –•– Rene and Rene (White Whale)-7 (14)
15 20 GOING UP THE COUNTRY –•– Canned Heat (Liberty)-5 (15)

Comment by cactus
2017-01-05 10:32:02

US Top 40 Singles for the Week Ending 4th January, 1969″

Portable transistor radios , I got one shaped like a red ball around 1973.

“Bye bye miss American pie ” heard that allot that summer in 1973 on the radio. 13 years old listening to the radio in Santa Barbara were my dad flipped a big ass house built by Washington Irving or something like that. 110K

1284 mesa rd 9.5M that’s inflation 44 years = 9.4M dollars

My dad sold it for 140k in 1975 thought he was Rockefeller

the radio I took it apart , cool stuff.

Comment by The Enrager
2017-01-04 16:26:49

Detroit has been doing some slashing since October.

The end result?

December Auto Sales Jump To Record 18.4 Million SAAR As Light Truck Sales Surge


Remember…… Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels.

Comment by azdude
2017-01-04 16:47:37

You have to laugh at the fools that buys these overpriced trucks and are underwater as soon as they drive off the lot.

I always see some folks with buyers remorse trying to unload them on craigslist. Unfortunately most people don’t have 50k cash to buy a truck with and the sellers are at the mercy of someone begging for a loan to buy it.

The only way they bought it in the first place was on TIME.

Comment by The Enrager
2017-01-04 17:28:17

Falling prices. You haven’t a choice.

Comment by azdude
2017-01-04 17:39:04

god bless falling prices!

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Comment by junior_kai
2017-01-04 18:27:21

And the seller has to roll the loss into a loan on their next ride as well - digging themselves deeper and deeper. Saw this when I was buying my previous car, a bank repo for all cash. Lots of people walking a tightrope trying to pretend they’re doing better than they are.

Comment by azdude
2017-01-04 19:12:06

we need to expand the balance sheet so we can do the trump stimulus plan and build some roads!

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Comment by azdude
2017-01-04 17:42:16


Comment by Senior Housing Analyst
2017-01-04 17:42:37

Coral Gables, FL Housing Prices Crater 8% YoY


Comment by The Enrager
2017-01-04 18:06:23

Remember… Nothing accelerates the economy and create jobs like falling prices to dramatically lower and more affordable levels.

“Manhattan Resale Home Prices Tumble the Most in Four Years”


Comment by azdude
2017-01-04 18:09:27

can one of you geniuses explain the relationship between the fed funds rate the FED has been rambling about for years and treasury rates?

Comment by The Enrager
2017-01-04 18:24:09

Interest rates going up up up!

Comment by azdude
2017-01-04 18:55:19

the only way they wont is if they do another round of QE and buy more treasuries.

Thats the only way they can keep yields down and be the buyer of last resort!

Comment by The Enrager
2017-01-04 19:08:54

Much too late for that Poet.

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Comment by azdude
2017-01-04 19:30:20

the chinese will buy more bonds!

If rates go up im gonna have to give u my house!

Comment by The Enrager
2017-01-04 19:34:00

Cheer up Poet…. cheer up my friend.

Comment by Professor Bear
2017-01-04 22:09:55

There’s a strawman perception that MSM finance writer ignorami like to perpetuate that the Fed Funds rate controls the long end of the yield curve, but it is not that simple.

Comment by phony scandals
2017-01-04 19:23:20

Moving truck spotted outside White House

By ALEX PAPPAS • 1/4/17 5:10 PM

A moving truck was seen on Wednesday parked outside the White House, where President Obama will live and work for just two more weeks.

The truck was parked on West Executive Avenue, a street inside the White House gates and situated in-between the Eisenhower Executive Office Building and the West Wing.

The large Moving Masters, Inc. white truck has blue lettering on its side saying: “It’s your move, call the masters.”

After moving out of the White House, Obama is expected to move his family into the Kalorama neighborhood of Washington D.C. Ivanka Trump, and her husband Jared, recently purchased a home in the same neighborhood, putting the new first family just two blocks away from where the Obama family is expected to live.

Comment by The Enrager
2017-01-04 19:32:38

All I got to say is get your $hit and get out.

Need some help? (There’s 100 million adults out here that would jump on the opportunity)

Comment by Ben Jones
2017-01-04 19:36:15

‘President-elect Donald Trump, a harsh critic of U.S. intelligence agencies, is working with top advisers on a plan that would restructure and pare back the nations’ top spy agency, people familiar with the planning said, prompted by a belief that the Office of the Director of National Intelligence has become bloated and politicized.’

‘The planning comes as Trump has leveled a series of social media attacks in recent months and the past few days against U.S. intelligence agencies, dismissing and mocking their assessment that the Russian government hacked emails of Democratic groups and individuals and then leaked them last year to WikiLeaks and others in an effort to help Trump win the White House.’

‘One of the people familiar with Trump’s planning said advisers also are working on a plan to restructure the Central Intelligence Agency, cutting back on staffing at its Virginia headquarters and pushing more people out into field posts around the world. The CIA declined to comment on the plan.’

Comment by rms
2017-01-04 22:01:25

Trump is gonna put Booz Allen on Jenny Craig.

Comment by palmetto
2017-01-05 07:35:41

And so what does Shumer have to say? Was it a veiled threat or is he saying the CIA actually runs the country?

“The new leader of Democrats in the Senate says Donald Trump is being “really dumb” for picking a fight with intelligence officials, suggesting they have ways to strike back, after the president-elect speculated Tuesday that his “so-called” briefing about Russian cyberattacks had been delayed in order to build a case.

“Let me tell you: You take on the intelligence community — they have six ways from Sunday at getting back at you,” said Senate Minority Leader Chuck Schumer Tuesday evening on MSNBC after host Rachel Maddow informed him that intelligence sources told NBC news that the briefing had not been delayed.”


Trump responds:

Donald J. Trump ✔ @realDonaldTrump
The Democrats, lead by head clown Chuck Schumer, know how bad ObamaCare is and what a mess they are in. Instead of working to fix it, they..
6:57 AM - 5 Jan 2017
5,497 5,497 Retweets 19,775 19,775 likes
Donald J. Trump ✔ @realDonaldTrump
…do the typical political thing and BLAME. The fact is ObamaCare was a lie from the beginning.”Keep you doctor, keep your plan!” It is….
7:01 AM - 5 Jan 2017
5,305 5,305 Retweets 19,250 19,250 likes
Donald J. Trump ✔ @realDonaldTrump
…time for Republicans & Democrats to get together and come up with a healthcare plan that really works - much less expensive & FAR BETTER!

Gawd, I’m reduced to a puddle of awe. I’m not worthy…

Comment by Raymond K Hessel
2017-01-04 19:35:07

Make billions from financial fraud, settle for millions in fines with no criminal charges. Heckova job, Obama Justice Department.


Comment by azdude
2017-01-04 19:38:15

2 “Therefore keep watch, because you do not know on what day your Lord will come. 43 But understand this: If the owner of the house had known at what time of night the thief was coming, he would have kept watch and would not have let his house be broken into. 44 So you also must be ready, because the Son of Man will come at an hour when you do not expect him.


Comment by The Enrager
2017-01-04 19:48:07

Good job Poet. I’m proud of you son.

Comment by azdude
2017-01-04 19:51:33

#sell @the top

hogs get slaughtered!

Comment by phony scandals
2017-01-04 20:11:47

Chicago Police: 4 in custody after man tied up, tortured on Facebook Live

By: Lisa Chavarria
POSTED:JAN 04 2017 04:58PM CST

FOX 32 NEWS - Chicago investigators are questioning four African-Americans after a Facebook Live video shows a group of people torturing a white mentally disabled man while someone yelled “F*** Trump!” and “F*** white people!”

Chicago police were made aware of the video Tuesday afternoon. A young African American woman streamed the video live on Facebook showing at least four people holding the young white man hostage.

“The video is reprehensible,” said police spokesman Anthony Guglielmi.

“It’s sickening. You know it makes you wonder what would make individuals treat somebody like that,” Police Supt. Eddie Johnson added.

In the video, the victim is repeatedly kicked and hit, his scalp is cut, all while he is tied up with his mouth taped shut.

Detectives think the victim, who lives in the suburbs and appeared to be in his late teens or early 20s, met some acquaintances in northwest suburban Streamwood and they drove him to Chicago in a stolen vehicle, Guglielmi said.


Comment by Raymond K Hessel
2017-01-04 20:23:58

Good comment on ZH:

Still waiting for this victim’s white parents to leverage their kids fame and start a Go Fund Me campaign.

Still waiting for this victim’s white preacher to be interviewed on national television.

Still waiting for the riots in this victim’s white neighborhood.

Still waiting for President Obama to make a statement supporting this white victim.

Still waiting for the DOJ to classify this as a hate crime.

Still waiting for Van Jones to tell us how he is going to explain this to his children in the morning.

Still waiting….

Any minute now…



Comment by rms
2017-01-04 22:32:16

Nice clear audio in this clip.

“Man ‘Tied Up & Tortured’ on Facebook Live in Chicago”

Comment by azdude
2017-01-05 06:31:49

bunch of drugged up thugs.

Comment by Professor Bear
2017-01-04 22:56:19

Get even with people who voted for Trump by torturing a mentally disabled guy? In what kind of universe would that make sense?

Comment by Joe
2017-01-05 07:27:50

Libs have been claiming for over a year that Trump encourages attacks and hate among his supporters. But the media refuses to cover actual violence and attacks against everyday people by (primarily black) liberals.

Our media is a joke, regardless of whether these 4 sociopaths are inspired by BLM or not. They consistently ignore Chicago violence and when they do cover it, they act like the problem is simply guns, not economic despair, family breakdown, and ghetto culture.

Comment by MightyMike
2017-01-05 08:53:39

If you looked into a bit, you could probably find a lot of coverage in the Chicago papers.

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Comment by redmondjp
2017-01-04 23:33:52

Obama’s legacy right there, all summed up nicely in one video.

Comment by aNYCdj
2017-01-05 07:15:18

well political correctness is finally dying a long overdue death……….time to uh… 2017 New Year’s Resolutions for Millennials


Comment by Joe
2017-01-05 07:36:16

As someone who voted for Obama twice (in my young stupid years) I can admit he failed, badly. He focused on symptoms rather than root causes of problems. And his solutions we predicated more on political correctness and “social justice” rather than on taking the most direct and resource-maximizing path.

The most charitable reading I can give towards Obama is that maaaaybe the economic issues were not his causing. Clinton got the ball rolling with dismantling certain regs and allowing huge banks and movement of jobs and money across borders, then W fellated banks and big corps some more while adding part d to Medicare and cutting taxes in response to 9/11. But Obama came in and doubled down on spending and stimulus… Did not work. Except for China and India!

Comment by Joe
2017-01-05 07:59:18

I would also add that, other than kagan and Sotomayor being on the court the next 20 years, I don’t think the us would be that much better off with McCain. Perhaps a little better off with Romney, but not enough that I feel that bad. Look at how mittens reacted to trump’s candidacy, esp re “racism” and “islamophobia” etc. And remember that Trump was a big donor to mittens! Mittens finally came around now and made peace, but it took Trump to lead the way. Sad! Mittens could’ve been VP or sec of state if he’d come around sooner. But he wasn’t need anyway.

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Comment by Raymond K Hessel
2017-01-05 08:26:00

Mittens was and is an empty suit and a Wall Street toadie.

Comment by MightyMike
2017-01-05 08:57:05

Look at how mittens reacted to trump’s candidacy, esp re “racism” and “islamophobia” etc.

Romney was referring to Trump’s actions and statements. Apparently, many people are tired of hearing those words, whether or not they’re used correctly.

Comment by MightyMike
2017-01-05 08:55:02

Obama’s legacy right there, all summed up nicely in one video.

only in your mind

Comment by Michael Viking
2017-01-05 10:57:43

only in your mind

Really? You got schlonged. LOL.

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Comment by Raymond K Hessel
2017-01-04 20:14:41

Oh dear. Manhattan resale home prices are tumbling. Stair-step up, broken elevator down.


Comment by Raymond K Hessel
2017-01-04 20:29:30

Will the Fed finally get a real audit under Trump?


Comment by Raymond K Hessel
2017-01-04 20:55:35

Manhattan apartment prices collapse the most in four years. 2017 is going to be when housing bubble 2.0 crashes back to earth.


Comment by azdude
2017-01-05 07:07:21

how high will they take stocks to suck the last bagholders in?

Comment by Raymond K Hessel
2017-01-05 09:48:37

They dangled 20,000 in front of the bagholders, but now that’s looking illusory.

Comment by Raymond K Hessel
2017-01-05 07:27:17

Sweet William’s glee-dance over Bitcoin’s surge to record highs has been short-lived, as everybody’s favorite scam cryptocurrency is plunging this morning. Back to stamping his little feet while railing about Trump and ranting that everyone who uses dollars is a Yellen groupie.


Comment by Raymond K Hessel
2017-01-05 08:16:23

A scam “currency” mined by computers is crashing?! I did NOT see that coming….


Comment by Raymond K Hessel
2017-01-05 08:47:10

Meanwhile, physical precious metals are surging.


Comment by The Old Sarge
2017-01-05 08:55:37

That “sweet william” must be the dream source of your nocturnal emissions - that or someone who haunts your empty skull.

Comment by azdude
2017-01-05 07:38:10


right on schedule, the sears liquidation continues.

shareholders will be the bagholders. stock at 11 bucks. This was a 200 stock at one time.

I guess kenmore is next?

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