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Pay Attention To What It Takes To Get To The Next Lower Price

A report from Bankrate. “You’ve listed your home at what you both believe is an accurate price, and you’ve hosted many showings, but so far, no one has made an offer. So why hasn’t your home sold? ‘Pricing is usually the reason,’ explains Gordy Marks, managing broker at RE/MAX Northwest in Kirkland, Washington. ‘Most other issues can be overlooked if your price is right.'”

“”We recommend a price adjustment after 10 days on the market,’ says Dustin Fox, a Realtor with Pearson Smith Realty in Ashburn, Virginia. ‘This gives you time for two open houses on back-to-back weekends. You don’t want to reduce the price too late because buyers then look at your days on the market as an opportunity to save money and lower their offers.'”

“If your home was originally priced on the high side, it may not be unreasonable to reduce it by 4 percent to 7 percent, says Ruth Shin, CEO of PropertyNest. ‘You probably want to reduce by more than 3 percent, at minimum,’ agrees Marks, ‘but I would pay attention to what it takes to get to the next lower price.'”

From Culture Map Dallas. “Financial website SmartAsset took a look at 100 of the U.S.’s biggest cities to see where it really pays to negotiate when buying a home, and three Texas locales land high on the list. After comparing the percentage of listings with a price cut and the median price reduction, the site declared Buffalo, New York, the city that’s most likely to cut you a deal. There, homes saw an average price reduction of 3.93 percent between August 2019 and September 2020, the highest in the study.”

“For comparison, Dallas-Fort Worth ranks No. 25 with a median price reduction of 1.92 percent. It showed 19.44 percent of homes listed during the studied time experienced a price cut. Houston lands at No. 15, with 19.32 percent of homes slashing prices while on the market, for a median 2.26 percent reduction. SmartAsset also found that price reductions aren’t uncommon, no matter where you’re looking to buy. Across all 100 metro areas in the study, an average of 15.70 percent of home listings had a price cut.”

From KRLD in Texas. “Some North Texas rents are falling as property owners try to attract tenants. Figures released by RealPage show that Dallas-area rates have been cut by anywhere from one-to-three percent. That’s not bad compared to other parts of the country like New York (down ten percent) or the San Francisco Bay area (off nearly 13 percent).”

From 6 Sq Ft in New York. “Since the beginning of the coronavirus pandemic in March, rental prices in Manhattan have dropped by 24 percent. In Noho, rental prices have fallen by roughly 49 percent from March to September. In the Park/Fifth Avenue section of the Upper East Side, prices have dropped by 43 percent during the same time period. Other areas in the borough that have seen a significant drop in prices between March and September include Carnegie Hill, down about 37 percent, Morningside Heights, about 30 percent, and the area encompassing Riverside Drive/West End Avenue, about 27 percent.”

“CityRealty also found a growing listing inventory in Manhattan, which has climbed by nearly 200 percent. Overall, according to a report by real estate appraisers at Miller Samuel, New York City’s listing inventory reached its highest level in 14 years last month.”

The Real Deal on New York. “Sharon Redhead, a second-generation landlord in East Flatbush, is having second thoughts about continuing the family business. She blames not Covid, but the state’s rent law. Now she has several rent-stabilized apartments sitting vacant, with no plans to renovate them, and has turned away apartment-hunters. Last year’s legislative changes have her rethinking the future. ‘We’re having a family meeting this week to discuss getting out of the landlord business,’ Redhead said. ‘But if I sold now, the only people that would buy are private equity groups.’ (Those firms have yet to start gobbling up multifamily buildings at heavy discounts, although some have called that inevitable.)”

“Smaller landlords are not the only ones who have considered putting the brakes on renovating and renting out apartments. A month after last year’s changes to the law, Blackstone Group announced that it was halting renovations at Stuyvesant Town. Its practice of keeping apartments vacant — which some call warehousing — soon came to light, although the firm later said it was renovating and leasing apartments as usual. According to numerous other multifamily property owners, however, warehousing is now widespread.”

“Landlords wishing to shed properties may present an opportunity for city programs, affordable housing developers and tenant groups to step in and ‘serve as a safety net,’ said Moses Gates, the Regional Planning Association’s vice president for housing and neighborhood planning. ‘If a landlord wants out of a building, it’s really only a matter of negotiating over price,’ he said.”

The Real Deal on Florida. “William Parrillo and his wife sold their Fisher Island condo for $7 million. The unit last sold in 2004 for $5.2 million. It hit the market in 2018 for $17 million, and was relisted since then. It was most recently asking nearly $11 million.”

The Miami Herald in Florida. “Two years ago, a little-known developer named Ricky Trinidad swept into Coconut Grove with ambitious plans to remake Grand Avenue in the village’s historically Black section. He promised passenger drones to ferry around residents of his developments and started spending big to acquire land. But not much else happened. Now the Coral Gables-based firm he manages, Metronomic Holdings, faces several foreclosure suits and has filed for reorganization in federal bankruptcy court.”

“The picture laid out in its Chapter 11 filing is not pretty: A list of Metronomic’s 20 largest unsecured debts tops $91 million, including $488,538.46 in unpaid property taxes and $1.5 million to Miami-Dade County’s environmental regulation agency. Listed creditors also include mortgage holders, contractors, architects, lawyers and Miami-Dade Water and Sewer.”

From Socket Site in California. “Having slipped under $3,600 in August, the weighted average asking rent for an apartment in San Francisco has just dropped to under $3,400 a month, which is down nearly 6 percent over the past month alone (having dropped closer to 3 percent a month over the prior quarter), down over 20 percent on a year-over-year basis and nearly 25 percent below a 2015-era peak, driven by a sharp increase in vacancy rates (which had briefly waned earlier this month but has since started ticking back up).”

“The average asking rent for an average apartment in the city, which measures 2.4 bedrooms when counting a studio as having one, is now 18 percent ($725 a month) cheaper than just seven months ago. At the same time, offers of complimentary rent and cash concessions haven’t waned, driving effective rents down even more. And a we noted earlier this month, rents in Oakland are now dropping as well, with the average asking rent for an apartment in Oakland having just dropped to under $2,500 a month (versus nearly $3,000 a month at peak), which is down nearly 6 percent over the past month as well.”

The Bold Italic on California. “It seems like there’s a moving truck on our block every day in San Francisco’s Haight-Ashbury. Recently, I found out that my apartment building had three open units, and the landlord had slashed prices by nearly 25%. The giveaways in my Buy Nothing Facebook groups and the items on Craigslist are indicative that people are offloading — entire furniture sets, cookware, pantry items, and innumerable random items you routinely find when cleaning out and packing up.”

“After six months of quarantine but nowhere near flattening the curve, we’ve become another trope: that of the techies actively planning their California exodus during Covid-19. Ironically, that’s catalyzed a drop in one-bedroom rents by about 14% compared to 2019. Even so, buying a house remains out of reach.”

“The truth is: I’m not finished with California. But it’s getting harder to justify. How much longer will I be able to ignore the lack of affordability and the looming existential threat? It’s the first time in my life where I feel like I’m scraping to find a reason to stay in a place despite my deep desire to do so. I’m in my early thirties, and these days, practicality reigns. I know for certain I’m not finished with California, but it’s starting to really set in that California may be finished with me.”

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This Post Has 96 Comments

  1. ‘You don’t want to reduce the price too late because buyers then look at your days on the market as an opportunity to save money and lower their offers’

    Wa? But UHS says red-hotcakes, everywhere?

          1. More likely appetizers to serve at their next open house! They treat their clientele like road kill, why not serve them some?

  2. ‘price reductions aren’t uncommon, no matter where you’re looking to buy. Across all 100 metro areas in the study, an average of 15.70 percent of home listings had a price cut’

    Somebody is a lion.

    ‘n Noho, rental prices have fallen by roughly 49 percent from March to September. In the Park/Fifth Avenue section of the Upper East Side, prices have dropped by 43 percent during the same time period. Other areas in the borough that have seen a significant drop in prices between March and September include Carnegie Hill, down about 37 percent, Morningside Heights, about 30 percent, and the area encompassing Riverside Drive/West End Avenue, about 27 percent’

    How do those 5% cap rates look now?

  3. ‘asking rent for an apartment in San Francisco has just dropped to under $3,400 a month, which is down nearly 6 percent over the past month alone (having dropped closer to 3 percent a month over the prior quarter), down over 20 percent on a year-over-year basis and nearly 25 percent below a 2015-era peak, driven by a sharp increase in vacancy rates’

    ‘It seems like there’s a moving truck on our block every day in San Francisco’s Haight-Ashbury. Recently, I found out that my apartment building had three open units, and the landlord had slashed prices by nearly 25%. The giveaways…indicative that people are offloading — entire furniture sets, cookware, pantry items, and innumerable random items you routinely find when cleaning out and packing up’

    That’s some shortage bay aryans.

    1. It seems like there’s a moving truck on our block every day in San Francisco’s Haight-Ashbury

      That place has been an absolute armpit for as long as I’ve been alive.

  4. ‘He promised passenger drones to ferry around residents of his developments and started spending big to acquire land. But not much else happened. Now the Coral Gables-based firm he manages, Metronomic Holdings, faces several foreclosure suits and has filed for reorganization in federal bankruptcy court’

    Still no bubble?

  6. ‘This gives you time for two open houses on back-to-back weekends. You don’t want to reduce the price too late because buyers then look at your days on the market as an opportunity to save money and lower their offers.’

    Do prospective buyers really follow specific houses like vultures, waiting for the wannabe seller to drop the list price before pouncing with an even lower offer?

    It’s actually not a bad strategy, given that everyone with a home for sale these days lists it on ten different web sites. I wonder if there’s an app for that?

    1. real estate agents definitely monitor a watch list for a buyer client. They pretend it is an artifact of their analysis – but probably a simple query and trending

      1. REALTWHORES care about one thing – their commission check. They will lie, cheat and steal – anything – to get another one.

  7. ‘”We’re having a family meeting this week to discuss getting out of the landlord business,’ Redhead said. ‘But if I sold now, the only people that would buy are private equity groups.’ (Those firms have yet to start gobbling up multifamily buildings at heavy discounts, although some have called that inevitable.)”

    “Inevitable”. Yeah? Well that’s part of The Plan.

    Go here for a hint of what this Plan has in store for us:

    Now is the time for a ‘great reset’ of capitalism | World Economic Forum
    https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/

  8. Any ideas on why Wall Street suddenly started to crater, after beginning the day on an up note that defied the negative futures?

    It almost seems like the Plunge Protection Team is losing its grip in the face of overwhelming forces of crater.

    2. Your idea of “crater” is a lot different than mine. A drop of .6% during the biggest stock bubble in history is but a rounding error.

  9. “I know for certain I’m not finished with California, but it’s starting to really set in that California may be finished with me.”

    It’s hard to live here for any length of time without facing this line of introspection.

  10. ‘Growing up in San Francisco, Bivett Brackett’s favorite restaurant was Don Ramon’s. While other kids opted for birthday parties at Farrell’s or Chuck E. Cheese, Brackett always celebrated at the SoMa Mexican eatery, where her five sisters would toast her with virgin piña coladas over plates of chicken enchiladas with mole sauce.’

    “Don Ramon’s was a welcoming place in a city that was very anti-Black and anti-Latino below the surface of its melting pot and cultural diversity,” said Brackett, the daughter of Afro-Latino immigrants.’

    ‘Now a community organizer and event planner in her forties, Brackett has found herself at the forefront of an effort to save Don Ramon’s from foreclosure.’

    ‘With business severely impacted by the COVID-19 pandemic, owners Lee, Nati and Lucy Ramirez — whose immigrant parents founded Don Ramon’s in 1982 — have fallen behind on a $5 million loan they took out in 2018. Their lender is threatening to repossess the building. ‘

    ‘A host of local politicians are intervening on the family’s behalf, encouraging the lender to give the Ramirezes an extension on payments.’

    “It’s an example of a business hammered by the triple threat of the pandemic, the recession and aggressive hard-money lenders,” Assemblymember David Chiu told Hoodline.’

    https://hoodline.com/2020/09/38-year-old-soma-mainstay-don-ramon-s-faces-foreclosure-after-illegal-tenants-damage-building

    ‘a welcoming place in a city that was very anti-Black and anti-Latino’

    Bay aryans…

      1. The motorcycles in “Easy Rider” headin’ to Nu.Orlyn’s, Louisiana … had California license plates … Uh, oh.

    3. Let’s see:
      1. What caused the recession?
      2. Who is still keeping SF in lockdown?
      3. Who will these people vote for in November?
      4. Given 1,2,&3 why should I care?

  11. Neighbor couldn’t sell her home in 2018 for $289k.

    She listed it again last week and had went pending the same day. Listing price is $450k

    I assume it’s all the California expats migrating to beautiful Austin, TX who are paying these prices.

    ——

    Brown said this year she sold her first home to an out-of-stater in June, but as of September, they already make up 30% of her buyers.

    “They may not have jobs here, but they can work from anywhere,” said Brown. “Austin’s a great place to be, and in their eyes, way more affordable.”

    According to Zillow’s weekly market report, as of last week, the median listing price of a home in Austin is about $435,000, which is up by 19.1% compared to this time last year.

    https://www.kvue.com/article/money/economy/boomtown-2040/realtors-report-an-uptick-in-out-of-town-home-buyers/269-d6ec995b-3e59-4bd1-9a7d-f5e83bf3f957

    1. Only a California equity locust would pay $450K in order to “work from anywhere.” I would be working from Oil City, or Fayetteville, NC, or Roanoke, where housing is $150K.

      1. Only a California equity locust would pay $450K in order to “work from anywhere.”

        Probably true. But lots of people love living that early phase lefty life where most of the population is still productive but everybody still gets to feel morally superior to the places that require productivity to live there. Austin is a great example.

        1. early phase lefty life where most of the population is still productive

          Yup! I commented on something similar. Lefty life is fine if there are enough paychecks to take care of a few poor relations. But when you have vast swaths of the population who cost more than they put in, it gets difficult. When the streets of Austin, or Nashville, or Asheville, fill with homeless or rioters — just as it happened in Frisco or Denver — are these same equity locusts going to sell their homes and move to a fresh pasture? I wonder what the next hotbed of early phase lefty life will be. An even redder state?

          1. There’$ a small town on Hwy 395 on the plain that rests @ the base of the Sierra Mountain’s: Dunmovin, CA

            Go North, go $kiing @ Mammoth Mtn. … go East, lay on sand dunes in Death Valley, … Go West, wander Mtn. lakes on the John Muir & Pacific Crest Trail, … go $outh, rock climb @ Joshua Tree … To get to the Pacific Ocean @ San “Lewy.no.biscuits”, plan a x1 day travel trip.

            (Don’t know why everyone thinks ya head out.of.state)

            Might bee a good location for a “Hip.Camp”?

            “Eye went from Dunmovin’ to Keepmovin’.on!”, Maybee a Woody song?

          2. fill with homeless or rioters — just as it happened in Frisco or Denver

            I received a letter from a realtor asking if I wanted to sell, as Denverites apparently want to move here, to escape from Denver’s high prices and increasing instability. Used to be that it was good enough to live in a Denver suburb like Broomfield or Arvada to keep the loonies at an arm’s length.

        2. But lots of people love living that early phase lefty life where most of the population is still productive

          The Centennial State is at that phase. Fortunately TABOR has kept spending in check and the state had to pare back spending this year as tax receipts dropped and they can’t raise taxes to cover the gap without voter approval. That said, it’s only a question of time until demographics change sufficiently to repeal TABOR. And of course, when that happens voters will be stunned at how quickly taxes will rise and the number of freeloaders will grow. I plan to be gone by then.

  12. My daughter’s boyfriend is one of these unemployed market-beating wupper-snappers.

    Mark Hulbert
    Opinion: Here’s the shocking truth about Robinhood investors vs. Wall Street stock pros
    Published: Sept. 29, 2020 at 6:55 a.m. ET
    By Mark Hulbert
    Individual investors as a group are doing better than most U.S. equity mutual funds
    iStock/dima_sidelnikov

    Call it the revenge of the small investor. For months now, small retail investors have been ridiculed by Wall Street professionals for being hyperactive traders — addicted to risk and hopelessly irrational. But just released academic research finds that, as a group, they’ve outperformed the market.

    Yes, you read that right. The research, conducted by Ivo Welch, a finance professor at UCLA’s Anderson Graduate School of Management, is entitled Retail Raw: Wisdom of the Robinhood Crowd and the Covid Crisis. The National Bureau of Economic Research recently began circulating it in academic circles.
    …

    1. “Welch’s findings are an illustration that, while not every investor is rational, the collective wisdom of the crowd is often superior.”

      Bahahahaha … “collective wisdom” = the madness of crowds.

      As somebody once said, “Financial genius is a rising market”.

      A rising market attracts the attention (and the money) of the multidudes of traders who possess “collective wisdom”. This attention (and money) tends to drive up prices (imagine that!).

      Prices that are driven up attract even more attention from possessors of collective wisdom who (convinced of their financial genius) look to double down.

      And thus a reinforcing loop springs into being which will last for all eternity or will last until it comes to an end – whichever comes first.

        1. If Isaac Newton couldn’t avoid it, your daughter’s boyfriend is chum.

          Also, please know that RobinHood makes its money selling information about their users’ upconing trades to the big boyzzzzz.
          TANSTAAFL, bitches.

  14. “I think the benefits of the stronger stock market are very concentrated as only half of Americans own any stock, and they are generally boomers and white Americans,” Zandi said. “The vast majority of Americans and minority groups do not benefit.”

    Billionaires will throw these equity boomers under the bus if it gives them a reprieve from the wolves. Reminds me of a book I read where a wedding party back in horse and buggy days was attached by wolves in the winter, in Russia, so threw women and children off the sled to slow the wolf pack down. Old world style.

    1. … in Russia, so threw women and children off the sled to slow the wolf pack down. ”

      Might bee that’$ why thee.🍊.Jesus is attracted to Putin’$ Ru$$ia, he would bee willing to $hed & $acrifice some of his per$onal belonging$!

  15. Twofer Tuesday:

    “President Trump’s re-election campaign wants to make sure Joe Biden doesn’t have someone feeding him answers during Tuesday evening’s blockbuster first presidential debate in Cleveland, The Post has learned.

    Trump 2020 wants the Biden campaign to agree to a third-party inspection of the candidates’ ears for electronic transmitters and devices before they take the stage, a source with the Trump campaign said.

    The president has consented to this inspection but the former vice president has yet to do so.”

    https://nypost.com/2020/09/29/trump-campaign-wants-bidens-ears-inspected-for-devices-at-debate/

    “Neo-con Never Trumper Bill Kristol suggested that he was too afraid to watch tonight’s presidential debate between Joe Biden and Donald Trump, indicating a total lack of confidence in Biden’s ability to last the course of the 3 hour event.

    Kristol has vehemently opposed Trump’s presidency at every step of the way, criticizing him for withdrawing troops from Syria and Afghanistan and announcing in February that until Trump was out of office, he was officially a Democrat. Kristol formally endorsed Biden in March.

    Biden’s confused, befuddled demeanor and his endless verbal slip-ups are too numerous to individually name, but the upshot is that polls show 38 per cent of American voters think Biden has “some form of dementia,” including one in five Democrats.

    Meanwhile, expect the media to declare Biden the winner of the debate no matter how horrendously he performs.

    As one Twitter user remarked, “If #Biden makes it off the stage without soiling himself, the media will say he won.”

    https://summit.news/2020/09/29/neo-con-never-trumper-bill-kristol-too-afraid-to-watch-biden-trump-debate/

    Kristol is dripping in blood, he should be hanged for war crimes.

    1. It’s going to be one of Trumpy’s finest hours tonite. Maybe 3 hours.

      It’s something you’re not going to want to miss. It’s going to be laugh after laugh.

      1. Yeah, he just keeps brokering peace deals and gathering Nobel Peace Prize nominations, but Real Journalists never talk about that. Kristol gets paid on a piecework rate, for every dead brown skinned Arab and every dead American soldier.

  16. Long, but well worth listening to. The lady is a hero. She talks of being in a prison state. Deception and coercion, and outright blackmail by the government on the citizens. We need to take heed of what she’s telling us.

    https://youtu.be/woP-zGx1q7U
    about 48 minutes

  17. “”We recommend a price adjustment after 10 days on the market,’ says Dustin Fox, a Realtor with Pearson Smith Realty in Ashburn, Virginia. ‘This gives you time for two open houses on back-to-back weekends. You don’t want to reduce the price too late because buyers then look at your days on the market as an opportunity to save money and lower their offers.’”

    Selling like hot cakes! Must be the dumb CALI people buying!!!

  18. I’m trying to understand how shutting down auto and rv manufacturing plants for less than 2 months can lead to many more months than that of low inventories. They’ve been back open since May, and it’s now almost October, yet inventories are still at historic lows. Whey you factor in the more than 50 million job losses, I really can’t wrap my brain around the disconnect.

    Check this out:

    Thor Industries Inc., THO +1.32% a large recreational-vehicle maker, finished its latest fiscal year in July with a record-high backlog of orders as the coronavirus pandemic led first-time buyers to shop for RVs.

    Elkhart, Ind.-based Thor reported a backlog valued at $5.74 billion, compared with roughly $2 billion a year earlier. That included $2.76 billion of orders for towable RVs in North America. Thor also said dealer inventories finished July at historically low levels.

    2. I find the whole situation annoying, just like housing. We’re facing the worst depression in history, but “RECORD PRICES!!!” is the meme. Geezuz, just put me out of my misery. I thought there would be deals on things.

        1. (He is similar to dtRumpsis, he foams @ thee.mouth & believe’$ it all whipped.cream.)

          One thing that is $aturated is RV Repair$, seems Travelin’.Wilbury.senior$ are di$.inclined to fix/repair their “love.machine$” … Oppoortunity’$ abound!

  19. I forgot to mention that I had an interesting conversation with a car salesman about a month ago. I asked him how all these people, young and old, were buying these expensive diesel trucks which cost more than my first house. He told me, “I have never had somebody who was turned down for a loan.” It seems unreal.

    I heard from somebody else a few months ago that car dealers aren’t even verifying income anymore. They’re basically just giving loans to everybody I guess.

    1. “I heard from somebody else a few months ago that car dealers aren’t even verifying income anymore. They’re basically just giving loans to everybody I guess.”

      They make their money via commissions, not for making sound loans. If they depended on the loans being sound then their sales would drop off and hence their commissions would take a hit.

      The loans, sound or not, are immediately sold off to some third party hence any problem with them becomes somebody else’s problem.

      2. Here’s a snip from the article I just posted …

        “It’s surprising how many car buyers don’t take the time to shop for car financing before going to the dealership. This is a huge mistake that dealers easily take advantage of.
        “They know most car buyers don’t take time to research financing options so they are likely to pass hidden fees into the car loan without anyone making a fuss.

        “What most people don’t realize is that dealers do not finance the car loans. They simply arrange financing using their relationships with banks, financing companies, and in some cases their manufacturer’s captive finance company.

        “Since they’re middlemen, they get a piece of the pie. Here’s how dealers typically screw over car buyers:”

      3. The loans, sound or not, are immediately sold off to some third party hence any problem with them becomes somebody else’s problem.

        The whole thing is a giant scam orchestrated by the FED. Hand out loans like candy to anybody who will sign, rate them AAA, sell them off to “investors” and if they aren’t performing unload them onto the FED’s balance sheet at peak pricing where they will stay buried forever.

    2. “…Were buying these expensive diesel trucks which cost more than my first house….”

      Not exactly legal, but I would imagine all these shaky loan vehicles are equipped with secret, hidden GPS tracking devices by the dealerships. Mr. and Mrs. Sixpack defaults on the loan? Not a problem. We can repossess you with the click of a mouse.

      1. And sell it again — and again — and again — getting a commission each time. Its actually a great business model.

        1. “…Its actually a great business model….”

          As Mr. Banker often [paraphrased] says ‘I am the one who ends up with all the money. They [borrowers] come to me willingly’

    1. What is it going to take for the dollar to come down and lose its unique role in world trade? Basically, the dollar’s role as a reserve currency is the only thing Generation Greed hasn’t cashed in yet.

      On the other hand, that may be the very factor that has allowed the U.S. trade deficit to continue year after year. If we are going to get poorer as a result of no longer being able to consume more than we produce, I say bring it on right now.

      1. Basically, the dollar’s role as a reserve currency is the only thing Generation Greed hasn’t cashed in yet.

        They’re trying. But in a world full of BS anything with real value (the country, not the paper) and a top military behind it doesn’t go down easy. That means you can beat it like a rented mule and still not kill it. Luckily for them…and us…but mostly them…so far.

      2. And replace the dollar with what? The ECB and BOJ are printing proportionally almost as much as the US. Nobody trusts Russia or China enough. And IMO Bitcoin is going nowhere. Half the world does not have the IQ points to understand crypto, and govs could get together and ban if tomorrow if they felt like it.

  22. “According to numerous other multifamily property owners, however, warehousing is now widespread.”

    NYC’s rent regulations are predicated on a vacancy rate below 5.0%. Units being held off the market, or that are being renovated, don’t count as vacant for rent.

    But if all these landlords toss the units on the market at once, just before the triennial survey used to calculate the official vacancy rate, then what happens? It’s going to be crazy.

  23. “After six months of quarantine but nowhere near flattening the curve, ”
    What a bunch of B.S., “flatten the curve” was about not overloading hospitals. The hospitals here were never overloaded, so the needed curve flattening happened months ago.

    1. I gotta say, SF, NYC, and DC were all masks all the time. But everywhere else we’ve visited it’s only done on special occasions as a courtesy. I’m guessing the electoral map may look similar in November if nothing changes. It definitely seems to have become more of a political statement than anything. I even heard comments a week or so ago in front of the Supreme Court building where people were mourning RBG from the mourners about how nice it was that everybody was masked there. They knew they were among their own that way. Meanwhile everywhere else people are just trying to get back to work.

      1. I’m not seeing people wear masks outdoors here. Indoors, yes; though the only place I’ve seen that enforced with a big burly bouncer type is a at WalMart.

        I’m getting a dental check up and cleaning on Friday. Will be interesting to see how the staff cover up. The dentist and assistants have been wearing masks for years. Perhaps a plastic face shield?

        1. I had my teeth cleaned in June as soon as they started taking non-emergency patients, same dentist for 10 years, took my temperature at the door, they cleaned my teeth, I went home and I didn’t die.

          Down here in Dumver you see so many people wearing masks while driving alone. ClownWorld gonna clown.

          1. “I had my teeth cleaned…”

            …yesterday. Wore my mask on the way in, got a temperature check, wipe hands with a towelette before proceeding to the waiting area. Kept the mask on until the seated in the reclining chair. The dental team have always worn masks there. Put the mask back on before climbing up from the reclining chair, and kept it on until exiting the facilities. Multiple placards from the local health department detail the rules!

          2. FWIW, they were shutdown for a couple of months sustaining huge losses until the local health department gave them the green light with reduced traffic.

          1. “…I had to gargle hydrogen peroxide. 🤢…”

            Look at the bright side. You didn’t have to gargle gasoline and then blow into a live flame…

  24. Verizon – a “woke” company in its own right – is now trying to divest itself of the money-bleeding Huffington Post, as nobody wants to pay for globalist propaganda and DNC talking points anymore.

    https://nypost.com/2020/09/28/verizon-scrambling-to-unload-huffpost-as-losses-mount/

    Verizon has been quietly scrambling to unload HuffPost as it grapples with continued losses at the left-leaning news and culture website, The Post has learned.

    The telecom giant — which acquired the site formerly known as the Huffington Post as part of its $4.4 billion purchase of AOL in 2015 — has approached multiple digital-media companies during the past few months in a bid to get the property off its books as losses accelerate due to the coronavirus, according to sources close to the situation.

    1. If it loses money, no one, other than maybe Soros, would want it. Might as well shut it down.

      Meanwhile, Disney announced it’s laying off thousands from its theme park business, especially in Disneyland, which has been closed for about 7 months. Disney management is losing patience with Gov. Newsom, who continues to waffle with reopening guidelines. I can only imagine how much money Disneyland is losing every day.

  25. ‘Pricing is usually the reason,’ explains Gordy Marks, managing broker at RE/MAX Northwest in Kirkland, Washington. ‘Most other issues can be overlooked if your price is right.’”

    Clearly a Mensa candidate who earns the big bucks for such brilliant observations.

      1. If you press the “Windows” key and the “.” at the same time, that will bring up a dialog box of emojis. That’s how HWY is making his emoji-filled posts.
        👍

  27. ‘You probably want to reduce by more than 3 percent, at minimum,’ agrees Marks, ‘but I would pay attention to what it takes to get to the next lower price.’”

    I would pay attention to the bursting housing bubble bearing down on you, greedheads.

  28. Houston lands at No. 15, with 19.32 percent of homes slashing prices while on the market, for a median 2.26 percent reduction.

    A piddly 2.26 percent reduction on a ridiculously overpriced shack ain’t “slashing.”

  29. “Since the beginning of the coronavirus pandemic in March, rental prices in Manhattan have dropped by 24 percent. In Noho, rental prices have fallen by roughly 49 percent from March to September.

    Is that a lot?

  30. “William Parrillo and his wife sold their Fisher Island condo for $7 million. The unit last sold in 2004 for $5.2 million. It hit the market in 2018 for $17 million, and was relisted since then. It was most recently asking nearly $11 million.”

    Weren’t gonna give it away, huh?

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