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The Most Important Thing Is Knowing When To Make A Price Cut — Or Even Several

A report from the Sun Sentinel in Florida. “Homeowners: Had enough of those pesky, disruptive storm seasons? Is a new job forcing you to relocate to another region of the country? Two national real estate firms are descending into South Florida to help make expedited sales happen. But what consumers need to understand, local brokers assert, is that the speed and certainty of a sale are often accompanied by discounts and lower sale prices.”

“Curbio soon will partner in the effort with The Keyes Co. in South Florida, said Mike Pappas, of Keyes. ‘The homeowner doesn’t want to do the repairs,’ Pappas said. ‘They don’t have the money.'”

From Queens News in New York. “A new report found that quite a few Queens neighborhoods saw price drops throughout the month of August. According to RealtyHop, Jamaica had the highest median percentage price drop, with a 20 percent drop based on one sale dropping $15,000 below the median selling point. At number two, the Breezy Point-Belle Harbor-Rockaway Park-Broad Channel area had a 9.24 percent median price drop, with the price drops decreasing also by $15,000 in total. Coming in at number three was East Elmhurst with a 9.2 percent decrease and drops averaging a $100,000 decrease.”

“The fourth neighborhood with the highest median percentage drop was Auburndale (Flushing) with a 7.57 percent median price decrease, with price drops averaging at a $43,000 decrease. At number five, Springfield Gardens North also had a 7.57 percent median price decrease, however the price drops averaged at a $30,000 decrease.”

From Real Estate Weekly on New York. “In the midst of a market in which brokers are facing declining interest from foreign investors, the takeaway from a recent panel with leaders in real estate is that the market is ‘schizophrenic.’ ‘You have to come down nine percent and then negotiate from there,’ advised Donna Olshan, president of Olshan Realty.”

“Olshan said she was less optimistic about the rest of the year based on her view that there is still too much overpriced stock. ‘Too often developers are in another world,’ she said. ‘They are looking into projections that are not achievable.’ Kyle Blackmon, real estate broker at Compass greed, saying the market is oversaturated with developments where ‘sellers need to get real about value.'”

“Jacky Teplitzky of Douglas Elliman, when speaking about the mercurial nature of the market, said the most important thing is to determine just what fair market value is and knowing when to make a price cut — or even several. ‘If everybody will get the message about what you are going to price the product — discount it before you put it into new inventory or shadow inventory or off the market inventory,’ she said. ‘There’s more off the market than on the market inventory because no one wants to show that the thing is on the market for a long time.'”

“Teplitzky added, ‘There’s so much inventory on Park and Fifth, so many price reductions. It used to be that you had to beg for an appointment (to see an apartment). Now they beg you to come for an appointment.’ Teplitzky said she believes this is because buyers know they have many options — ‘they read the papers.'”

“At one point, Shlomi Reuveni, CEO of Reuveni Real Estate, brought up situations where developers don’t have the luxury of lowering prices because they may have already been set by their capital partners. He added that he’s been in the business since 1986, ‘and I’ve never seen a market like this.’ He added, ‘I’ve seen the worst of it. In 2009, people were committing suicide because they lost everything they had, but this is as surreal as it gets.'”

The Press Democrat on California. “According to a new study by Smart Asset, Santa Rosa ranks among the top ten cities in the nation where it pays to negotiate on home price. Between July 2018 and June 2019, an average of 20.39% of Santa Rosa home listings had price reductions, and the median price reduction for those listings month-over-month was 3.01%. Santa Rosa was only outranked by Baltimore.”

The Napa Valley Register in California. “Data newly released by CoreLogic showed median home prices in Napa County dipped 4.6 percent -– from $669,500 one year ago to $638,500 this July. The Napa County median also dipped month-over-month: from $677,000 this June to $638,500 in July. The median home price also dipped in Sonoma County, according to Sotheby’s. That county’s median was $635,000 in June, compared with $665,000 one year before.”

“‘Sellers throughout Sonoma and Napa counties are a little more likely to negotiate on price, giving buyers the upper hand in scoring a deal and possibly a wonderful real estate investment,’ said the real estate company.”

“Total home sales in the San Francisco Bay Area in July 2019 were the lowest for that month since July 2011 when 7,014 homes sold. Sales have fallen on a year-over-year basis for the past 12 consecutive months. The median price paid for all homes sold in the San Francisco Bay Area in July 2019 was $815,500, down 4.7 percent from $856,000 in June 2019 and down 4.1 percent from $850,000 in July 2018.”

“This is the third consecutive month in which the regional median sale price has fallen on a year-over-year basis, beginning with a 1.9 percent year-over-year decline this May, followed by a 2.2 percent dip this June. This July’s 4.1 percent annual decline in the median was the largest since December 2011, when the median fell 10.5 percent year over year. Before this March, the median sale price had risen on a year-over-year basis for 83 consecutive months – since April 2012. The $875,000 median in June 2018 was the highest ever.”

The Wall Street Journal. “Hedge-fund manager Andrew Barroway first listed his elaborate Pennsylvania estate in 2016 for $28 million. Now, he is auctioning the property with a reserve price of just $14.9 million. ‘I’m an impatient person, and I don’t want to list the property, I want to sell the property,’ he said.”

“Mr. Barroway said he bought the land in 2006 for $12 million, and spent more than three years and about $23 million building the mansion. He spent $1 million on geothermal heating and air conditioning alone.”

“The suburban Philadelphia market is performing much like that of the New York suburbs, where prices have been depressed by a move toward city living. Gladwyne is ‘like the Greenwich of Pennsylvania,’ Mr. Barroway said, referring to the struggling Connecticut market.”

This Post Has 122 Comments
  1. ‘Shlomi Reuveni, CEO of Reuveni Real Estate, brought up situations where developers don’t have the luxury of lowering prices because they may have already been set by their capital partners. He added that he’s been in the business since 1986, ‘and I’ve never seen a market like this.’ He added, ‘I’ve seen the worst of it. In 2009, people were committing suicide because they lost everything they had, but this is as surreal as it gets’

    This is a real estate publication: the MSM won’t tell you what’s really going on. Why is that?

  2. But what consumers need to understand, local brokers assert, is that the speed and certainty of a sale are often accompanied by discounts and lower sale prices.”

    Isn’t that a statement of the blindingly obvious?

  3. ‘prices have been depressed by a move toward city living. Gladwyne is ‘like the Greenwich of Pennsylvania,’ Mr. Barroway said, referring to the struggling Connecticut market’

    Down since 2016 at least. The bubble popping is years ago.

  4. Teplitzky said she believes this is because buyers know they have many options — ‘they read the papers.’”

    Hey buyers, there’s a far better alternative to reading the papers, whose columnists are touts and shills for the REIC. C’mon down to the HBB – put your feet up and stay for a spell. You might learn a thing or two.

    1. “It used to be that you had to beg for an appointment … Now they beg you to come for an appointment.”

      #LearnToCode

  5. ‘Total home sales in the San Francisco Bay Area in July 2019 were the lowest for that month since July 2011 when 7,014 homes sold. Sales have fallen on a year-over-year basis for the past 12 consecutive months. The median price paid for all homes sold in the San Francisco Bay Area in July 2019 was $815,500, down 4.7 percent from $856,000 in June 2019 and down 4.1 percent from $850,000 in July 2018’

    ‘This is the third consecutive month in which the regional median sale price has fallen on a year-over-year basis, beginning with a 1.9 percent year-over-year decline this May, followed by a 2.2 percent dip this June. This July’s 4.1 percent annual decline in the median was the largest since December 2011, when the median fell 10.5 percent year over year. Before this March, the median sale price had risen on a year-over-year basis for 83 consecutive months – since April 2012. The $875,000 median in June 2018 was the highest ever’

    You had your boom, enjoy the bust bay aryans. It’s all fun til somebody loses an eye.

  6. ‘quite a few Queens neighborhoods saw price drops throughout the month of August. Jamaica had the highest median percentage price drop, with a 20 percent drop’

    But troll says it’s only luxury shacks down? Eat yer crowz troll!

    1. The thing is that Jamaica was a real working class neighbourhood where people lived in apts above the retail on the ground floor, on 3 story walkups, and small but functional, town and detached houses.

      It could be gentrified – but it could not be gentrified by very expensive rennos and fancy teardowns.

      It caught up with them

    2. Coming in at number three was East Elmhurst with a 9.2 percent decrease and drops averaging a $100,000 decrease.”

      “East Elmhurst” was previously called, and will always be, “Corona”. Yes, the same Corona from “Me and Julio Down by the School Yard”. It is chock full of illegal immigrants and has a very high crime rate but I guess that the REIC figured if they renamed it “East Elmhurst” it would make it all better. I have news for you, it is still a ****hole and I grew up in Elmhurst. It’s a long walk to the trains and buses and why anyone would pay 5-6-700,000 to live there is beyond me. You would not want to walk along Junction Blvd. after 86th street at night. That is a no-go zone for sane people.

  7. ‘If everybody will get the message about what you are going to price the product — discount it before you put it into new inventory or shadow inventory or off the market inventory…There’s more off the market than on the market inventory because no one wants to show that the thing is on the market for a long time’

    What Jacky is admitting is that the RE biz is crooked, statistics are purposefully manipulated for their benefit, we can’t trust the REIC or REIC media to do any digging or tell us the truth. Pretty much what I’ve been saying for years.

    ‘more off the market than on the market inventory’

    Think about that.

      1. Tesla front-loaded their US sales with the phasing out of the $3750 tax credit in July, so the dip in August US sales is not surprising. More importantly, they are more than compensating by selling and exporting American cars to Europe and Germany. They are selling every single one that comes off the line and sales are increasing globally.

        As for the dip in other non-Tesla sales (e.g. the Chevy Bolt of BMW i3) that is expected because honestly the model 3 is too good of a car to compete.

        https://insideevs.com/news/368729/ev-sales-scorecard-august-2019/

        1. And what percentage of the total vehicle fleet is electric? 2% of new sales is not going to move the needle. ICE last decades.

          1. Yes, 2% is not a huge number, but it is up from 0% essentially a decade ago. EVs are growing as a percentage which is why I posted that chart above because it shows the clear trend. How fast the EV adoption will be is up for discussion. Obviously ICE cars on the road now will be with us for some time, but I believe most automakers are going to stop funding R&D for new ICE-engines in the next 5 years.

            Most Americans don’t even know anything about EVs. Ford is trying to educate Americans as they plan to rollout their all-EV F-150. Their research says that about 60% of Americans think that EVs need gas, as if it were a hybrid or plug-in electric. The only reason EVs are being sold is because Tesla is the first company to create an EV that doesn’t look weird and has decent range. There just aren’t that many great offerings from the major auto manufacturers yet, although VW just started to produced their ID3 for Europe, so we’ll see how that does. VW is making the shift to EVs in a big way which will be significant since it is the world’s largest automaker.

          2. “Most Americans don’t even know anything about EVs.”

            I looked at them for long enough a few years ago to decide I didn’t get one because they are more expensive to own than comparable gasoline-powered cars, the need to charge them is a pain in the patuti, and the battery is a ticking financial time bomb.

            Also the vanity premium for going electric isn’t worth it for me.

            Thanks, but no thanks…

          3. the need to charge them is a pain in the patuti,

            To each his own. I love never having to go to a gas station and filling up while I sleep, never needing oil changes, and never needing to replace brake pads.

          4. I miss the days of a carburetor with two connections, the throttle linkage and a fuel hose. And a single muffler under the car.

            Now it’s direct fuel injection via high pressure fuel rail and the associated problems of intake valve carbon buildup due to the EGR system, exhaust gas sensors, catalytic converters, etc., so that the savings in fuel mileage cost so much more money meaning more hours worked and the per hour environmental cost of having to work more…to achieve better mileage. WTF?

          5. For anyone genuinely interested in news that counters the Tesla narrative, @TESLAcharts (case-sensitive) on Twitter is the person to follow.

          6. For anyone genuinely interested in news that counters the Tesla narrative

            Tesla charts is a short-selling twitter handle. It is the exact opposite of objective information. Redpill, how much have you gone short on Tesla? You seem to be super interested in getting people to look at these articles.

          7. Also, that Twitter link to a short-seller of WeWork. I am intrigued if WeWork will scale or if they will be an epic blowup, but I have no financial stake it in and am not vested in either outcome. How much are you short these companies and what are your financial positions here? Please disclose.

        2. Some forecasts …

          How Many Electric Vehicles Will Tesla, Volkswagen, & Nissan Sell In 2020–2025? | CleanTechnica
          https://cleantechnica.com/2019/09/07/how-many-electric-vehicles-will-tesla-volkswagen-nissan-sell-in-next-5-years/

          … and a caveat …

          “About the Author

          “Zachary Shahan Zach is tryin’ to help society help itself (and other species). He spends most of his time here on CleanTechnica as its director and chief editor. He’s also the president of Important Media and the director/founder of EV Obsession and Solar Love. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, and Canada. Zach has long-term investments in TSLA, FSLR, SPWR, SEDG, & ABB — after years of covering solar and EVs, he simply has a lot of faith in these particular companies and feels like they are good cleantech companies to invest in. But he offers no professional investment advice and would rather not be responsible for you losing money, so don’t jump to conclusions.”

          1. Zachary Shahan’s bio aside, sonsidering that VW has secured $50 billion worth of battery contracts, so I expect they plan to sell quite a few EVs in the next 10 years:

            https://www.thedrive.com/news/24853/volkswagen-ceo-we-have-sourced-batteries-for-50-million-electric-cars

            Tesla is producing about 7000-8000 cars (model 3, S, and X) a week right now depending on which sources are correct. Once the China factory comes online in November, they will probably double that production and will get close to producing about 1 million vehicles a year.

        3. honestly the model 3 is too good of a car to compete.

          It doesn’t get much gooder than losing $10,000 on each and every one.

          1. Oh, maybe you are right, I was just being lazy. I took the 9 zeros they lost in Q1 & Q2 and divided by the 5 zeros number of cars they probably made. So I only got 4 zeros left. I totally ignored the 10 zeros they owe overall, no small oversight. So, the big picture is bad and the progress report is bleak.

          2. I took the 9 zeros they lost in Q1 & Q2 and divided by the 5 zeros number of cars they probably made.

            You do see the problem with doing this type of calculation right? I mean Tesla is doing a serious build-out of a factory in China and another plant for the model Y, semi investment, and their truck? Building cars is super capital intensive and so it takes time for the margins on the vehicles to pay back the capital expenditures. Margins are good on all vehicles and now with the Tesla Insurance it should be interesting how that turns out into a revenue source.

          3. I mean Tesla is doing a serious build-out of a factory in China

            I left out mention of the Chinese debt package. China is lending the money to Elon as far as I can tell. Shouldn’t affect his books much, except that if he had any technology edge, it’s now gone, gone, gone.

            Subsidy schemes have their day,and depend largely on a lack of public understanding of thermodynamics.

          4. https://www.businessinsider.com/tesla-august-deliveries-paint-dire-picture-analyst-zero-dollar-valuation-2019-9

            “‘While there is no reasonable justification for a structurally unprofitable and horribly managed company to enjoy a $40 billion market cap, proponents of the stock tout its growth,’ he said. ‘That story is clearly over.'”

            “‘Remember that the staggering losses and cash burn have occurred while Tesla has had the electric vehicle market essentially to itself and Musk has promised imminent and sustainable profits and cash flow generation multiple times,’ he said.”

            “‘Back-to-back quarters of negative revenue growth, increasing losses, and cash burn will make plain to even the most ardent believers that Tesla is not a viable business.'”

      2. Electric car cost/mile is 38% higher than internal combustion vehicles, directly attributed to the fact that they continued running long after electric vehicles fall apart.

        Why pay 38% more for transportation?

        1. You can figure out the efficiency of gas vs electric where you live with this Idaho National Laboratory chart:

          https://avt.inl.gov/sites/default/files/pdf/fsev/costs.pdf

          For me (St. George, UT) is is $.03/mile for my Tesla vs $.14/mile for my wife’s Chevy Spark. So its about 4x more expensive for fuel. The exact comparison depends on the gas price in your area and your cost/gallon of gas vs the fuel efficiency of an EV and cost per kilowatt hour of electricity.

          1. That excludes the cost and lifespan of the car.

            Tesla jalopies aren’t competitive with a fossil fuel auto at any price above $15k. Even if they were to sell them at $15k, what advantage is there?

          2. Tesla jalopies aren’t competitive with a fossil fuel auto at any price above $15k. Even if they were to sell them at $15k, what advantage is there?

            Tesla competes with other luxury cars and have been gaining ground and are now top of the pile in the US as of the most recent Kelley Blue Book report:

            “Good news or bad, Tesla garnered high perceptions from consumers,with no sign of slowing down. It already dominates in 7 factors and could easily take over Safety and Reputation from its 2nd place spot.”

            https://www.scribd.com/document/423521266/2019Q2-Brand-Watch-Luxury-Topline#from_embed

          3. Lwhat advantage is there?

            The fun of acceleration?“

            Don’t forget, the $100k+ model can put on a light show too!

          4. pius and hindsight

            Current soct of 85k tesla battery?
            Musk says no worries it will come down
            why? is lithium crashing?
            down 25% but not cheap

          5. So exploited Children in the Congo working in unsafe mines with no health or safety protections are producing the Cobalt for the Tesla, Rare Earth metals produced in China with no concern for the environment are being used in your vehicle, and Electricity in Utah produced primarily with fossil fuels especially coal is fueling your Tesla vehicle and you think that driving a Tesla is good for humanity?

          6. So exploited Children in the Congo working in unsafe mines with no health or safety protections are producing the Cobalt for the Tesla, Rare Earth metals produced in China with no concern for the environment are being used in your vehicle, and Electricity in Utah produced primarily with fossil fuels especially coal is fueling your Tesla vehicle and you think that driving a Tesla is good for humanity?

            Look up the trend in Utah’s electricity mix and you’ll see growing renewables and shrinking coal. Huge solar conference is coming in the next two weeks. As for mines in Congo, of course everyone wants protections against exploitation of children. But don’t throw the baby out with the bath water. There are ways to mine responsibly. Also, Tesla is looking at ways to cut out (or minimize the cobalt in its batteries).

            You are not concerned about the environment Dan. You are an oil cheerleader and use environmental concerns as a pretext to defend oil and the status quo. EV supply chain isn’t perfect, but it is lots better for the environment, air quality, and planet than diesel and gas.

          7. You are not concerned about the environment Dan.

            Odds are you are completely wrong about that too.

            Do you really think that insults will make this crowd stop calling you on your endless train of BS? You are using more hydrocarbon fuel than the ICE folks, just leveraging a cheaper version (coal/Nat Gas), plus leveraging unsustainable debt (Tesla/fracking), tax avoidance and dumb government subsidy.

            You are the last person that should accuse someone else of not being a conservationist.

            Have fun at your Solar Conference. The last one I went to in San Diego, Solyndra was the star fraudster. I called them that then.

            Oops, my polite hat seems to have fallen off. Where is that sucker?

          8. Do you really think that insults will make this crowd stop calling you on your endless train of BS?

            I didn’t insult Dan, I just stated that Dan is pro-oil. I would be surprised if he was insulted by that characterization, but if he is, I will withdraw that statement. Dan makes good comments that make me think, though I often don’t agree with him. But I value a contrarian and dissent. Group think is bad. You make good comments as well. Your strongest quality is calling a spade as spade when it comes to debt and frivolous expenditures. We just don’t see eye-to-eye on my car purchase. That’s okay.

            I am very bullish on Tesla (the cars, not the stock), but more so on EVs and self-driving in general because I think they can help correct the housing bubble even before rates normalize. It’s okay if we don’t agree on the facts on emissions, renewable energy, pollution, and sustainability. We’re not going to change each other’s minds. You are right that the electricity of an EV is only as clean as its source. And in some parts of the US a hybrid would be cleaner than a full EV because the grid is dirty. But it’s important to look at how quickly the grid is changing everywhere, including the phasing out of coal and replacing it with nat gas. I think 70% of new electricity generation in the US is coming from renewable sources.

            But there is an important point: if one thinks EVs are dirtier than ICE cars then it would be because they have more CO2 emissions, because that is the main output of burning hydrocarbons. But if you believe that AGW is a hoax (as Dan as stated) and that CO2 is good because its what plants need, then there is no need to fret about any EVs being powered by coal/nat gas, etc. So 1) I don’t believe EVs throw off more pollution (not just CO2 but other PM 2.5 and PM 10) pollution than ICE cars. But if you did believe that, who cares because global warming is a hoax. Can you see the logic there?

    1. That is also the emotional response on a decent size of the consumer base.

      Think model year of a car – many of the ‘horny’ will buy early in the model year so they can talk about a car that no one has. The discounts (for regular – not super hot selling) come after 10-15 months of the production run for that model year

    2. No surprise here. What we don’t know won’t hurt us right? Oh wait let me rephrase, what they don’t tell us, won’t hurt them!

  8. “Hedge-fund manager Andrew Barroway first listed his elaborate Pennsylvania estate in 2016 for $28 million. Now, he is auctioning the property with a reserve price of just $14.9 million. ‘I’m an impatient person, and I don’t want to list the property, I want to sell the property,’ he said.”

    The Animals – We Gotta Get OuttaThis Place

    https://www.youtube.com/watch?v=9bQUUwB8CKE

    1. “…he is auctioning the property with a reserve price of just $14.9 million.”

      Just $14.9 million, huh? I’m sure he’ll “just” find a buyer with that spare change in his pocket.

    1. Elizabeth Warren is a fraud.

      Bernie Sanders is holding a rally in Denver Civic Center Park tomorrow evening, I am planning to attend.

      As I have stated before, I will be voting for him in the (open to unaffiliated voters) Colorado primary in March 2020, to deny Biden a coronation, and to divide the Democrat Party electorate as much as possible before their convention in Milwaukee.

      “This sucker could go down” — George W. Bush

      1. As usual, I will probably be voting for myself. It’s the only way I can be sure I voted for someone who will look out for my best interests.

    2. she is just another globalist

      But I was just berated for not believing she’s an outsider. 🙄 It must be true now that NBC reports it.

    3. The 3rd generation of the Clinton Crime family is being spawned, but alas, Bill and Hillary no longer hold any official positions, and Chelsea is unelectable as a pol, and hence the Fam has no influence to peddle. Maybe Hillary has finally recognized that she will never be president, but has a shot as VP on a Warren ticket, in return for marshaling the Clintons’ extensive corruption networks and donors to help rig the Democrat primary in Senator Running Deer’s favor.

        1. Can’t imagine any position more dangerous than one that blocks Crooked Hillary from achieving her obsession of being president.

      1. Maybe Hillary has finally recognized that she will never be president, but has a shot as VP on a Warren ticket

        No way. The only question is whether Warren is already on the inside (which seems to have already been answered). But if she’s not, Hillary will make sure she gets an offer she can’t refuse prior to being anointed. Then Hillary’s work will be done.

        1. Never mind Trump’s kidz, bring it back to November 2016.

          “Real Journalists” got their azzes handed to them and learned nothing from the experience.

          Hey real journalists, do you realize how reviled you are? And nobody has to get violent or anything stupid, all we have to do is STOP GIVING YOU MONEY.

          No newspaper subscriptions.
          No magazine subscriptions.
          No cable or satellite TeeVee.
          Adblock on home computer browser and phone.

          It’s not that complicated. And the layoffs in your industry (in an economy with record low unemployment) shows how unneeded, how unwanted you really are. You are economically irrelevant. And no, you probably won’t #LearnToCode. You’ll just get laid off from your obsolete media job and circlejerk with the rest of the Twitter blue checkmarks about it.

          Enjoy your ramen future, loosers.

          1. Unfortunately, this informal boycott of the news is giving us even less news than we already had. When money is tight, the first thing to get cut out of the news business is actual news. Just as you would stretch a small amount of meat with beans and potatoes into a cheap meal, the media stretches their facts with filler like speculation and editorial into cheap news.

          2. “Do they feed ramen in prison?“

            It’s a delicacy in prison. Some inmates have gone as far as making ramen cook books which many realtors will learn to value in the highest regards.

      1. No fan of political dynasties. But just a casual observation. The people who have been ‘LOLing’ Trump seem to be on a rather lengthy losing streak. And also becoming a ‘political dynasty’ is not necessarily a compliment. History would rather imply the opposite.

        1. No fan either, I am not even sure most of the family shares DJT’s anti globalist sentiment. It is so much easier to go with the flow.

          1. Also not a fan of political dynasties. Jr tries to dodge the question when asked and says he’s got 30 or so years to decide if he would follow in his father’s footsteps.

          2. “Jr tries to dodge the question when asked and says he’s got 30 or so years to decide if he would follow in his father’s footsteps.”

            It’s the effeminate Jewish son-in-law that worries me…not that he desires the attention. I’m sure he’d prefer to slink around behind El Jefe where he can connive and steal without drawing attention.

          3. It’s the effeminate Jewish son-in-law that worries me

            If anyone, it’ll be Jr or Ivanka. Who knows about Barron at this point. And even though Eric’s wife, Laura, campaigns for DJT, I don’t think Eric is interested.

  9. *** “Two national real estate firms are descending into South Florida to help make expedited sales happen.
    But what consumers need to understand, local brokers assert, is that the speed and certainty of a sale are often accompanied by discounts and lower sale prices.”***

    aka: carpetbaggers

      1. It’s not that difficult to fit 3 bedrooms in 1283 square feet. In all of these houses, the bedrooms are small by modern standards and bathrooms are 5×8. This house has a living area but only a small dining area.

        Do Chinese buyers go for these small houses originally built for working classes? I thought they wanted mini-palaces to show off.

        1. “Do Chinese buyers go for these small houses originally built for working classes? I thought they wanted mini-palaces to show off.”

          Seems to me they used all real estate as a piggy bank / safe haven for there deflating currency. This goes much deeper as we all know but the very rich Chinese that “invested” in the trophy properties have pretty much disappeared. Seems to be a strong correlation to why high end RE hasn’t been selling. The realtors still hold on to the good ole days of pricing properties with 8s for a easy sale to a foreign (often money laundering) victim. Sorry realtor, it’s time for the bad days, no commission for you!

    1. I can’t think of any other possible way to spin the wheel one more time while still on the dollar. So to me that means it will be tried once the pain gets to 2009 levels again.

  10. prices have been depressed by a move toward city living

    Affluent people leaving the Mainline to live in downtown Philadelphia after 100 years? Right.

    Or maybe you paid too much!

        1. “From looking at the link!”

          Search using: “19 rolling hills rd thornwood ny 10594”

          Agreed. I’d hate to have a hangover in that place!

          1. Zillow has better close-up pix. The roof is bowing in, not to mention looks like it leaks like a sieve. $30K at least..

  11. Well this is poetic justice. The National Education Association (NEA) serves as an adjunct of the DNC and is far more committed to indoctrination than education. Needless to say, support for globalism is explicit. So rather than pay teachers living wage jobs that would attract more qualified and capable candidates, schools are importing low-wage teachers from the Phillipines, cuz globalism is all about the race to the bottom when it comes to paying the 99%. Suck it, NEA members.

    https://www.vice.com/en_us/article/vb5bga/americas-newest-outsourced-job-public-school-teachers

    1. You used to be able to support a family on a teacher’s salary. Middle class, even blue collar, but you could do it on one income. Then teaching became the realm of you lady hotties who had double-majored in education and Mrs in college. They could take a lower salary because they were young and because they were just a secondary income to their business/doctor/lawyer husband.

      I guess even the young hotties now cost too much?

        1. Due to attending a Catholic high school, I missed out on the young hotties. It was for the most part old nuns.

          I thought Catholic school was all about the rebellious girls? Who cares about the teachers?

    1. 🤦🏻‍♂️…

      Hard to rationalize this given the validity of some of his tweeters. Phone calls that didn’t happen, etc… throw in the PPT and printing of money to prop up our markets makes my head spin. Living in the twilight zone

      1. Yes and the SALT Deduction limitation and Blasio running the city into the ground, will the last limousine liberal leaving NYC please turn out the lights?

  12. “Homeowners: Had enough of those pesky, disruptive storm seasons?”

    The MSM news crews have been out doing interviews with families in the Bahamas who look mostly like ghetto peeps. I suppose the productive folks probably left the area much earlier. What do they make there in the Bahamas other than babies?

    1. Pretty harsh considering what many over there have just gone through. There is certainly a lot of poverty with all the Haitian immigrants and all, many of who’s dead bodies are still littering the mangroves and rubble piles.

      Aside from tourism, I believe their primary industries are fisheries and boat building.

      1. “Pretty harsh considering…”

        I realize that they’re trapped on the islands, so they probably didn’t stay behind to grab a big screen TV from Best Buy like they did in New Orleans during Katrina. Looks like Florida is stuck with ’em for now.

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