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Real Estate Stopped Being An Investment Opportunity A Long Time Ago

A weekend topic starting with Real Estate Weekly. “For a fourth straight month the number of vacant apartments in New York City increased, according to a survey of the members of the Community Housing Improvement Program (CHIP). ‘This is a housing crisis. Hundreds of thousands of apartments that were occupied a year ago are now sitting empty,’ said Jay Martin, executive director of CHIP. ‘In some places, an owner would have to drop the rent by 50% to rent out an apartment. But, most owners cannot sustain that type of operating loss for the next few decades because of the high operating costs, especially property taxes,’ explained Martin.”

“In addition to the growing number of vacancies, the CHIP survey found that 17.6 percent of residential tenants have paid no rent in November. Additionally, 43.4 percent of commercial properties have paid no rent. Members also report that they have offered their other commercial tenants significant concessions during the COVID-19 emergency. Many rent-stabilized buildings have first-floor retail stores that have historically been able to offset the artificially low rents in the residential units.”

From Patch New York. “In what is surely no surprise for residents, two ZIP codes covering Midtown and Hell’s Kitchen rank among the most expensive in the U.S. by home sale price this year — although one saw a precipitous drop compared to 2019. According to the annual study by Property Shark, released this week, the 10018 and 10019 ZIP codes both ranked among the nation’s 100 most expensive this year based on the median sale price of homes from Jan. 1 through Oct. 15.”

“Three spots below is 10018, covering a sliver of the Garment District and Hell’s Kitchen, with a median price of $1,575,000. High as that may be, it represents a 38 percent drop from last year, when 10018 had a median sale price of $2,520,000 — good for 26th on the nationwide list.”

From Patch California. “Orange County has seven of the most expensive zip codes in the U.S., according to Property Shark’s annual ranking of the 100 priciest zip codes in the U.S. ‘Covering the exclusive Santa Monica neighborhood North of Montana and parts of Rustic Canyon, Santa Monica’s 90402 marked its second year as the third-priciest zip, despite coming in 10% below 2019 pricing levels,’ Property Shark said. ‘This price drop allowed Beverly Hills’ 90210 to equal Santa Monica’s median, as the former’s median sale price contracted at a milder 8%, thereby giving Beverly Hills its highest position since 2015.'”

From The New Statesman in the UK. “Even before Britain entered the second wave of Covid-19 and England was locked down again, you might have noticed that something was wrong with London – specifically central London. The truth is that cities such as London have lost their raison d’être – namely the monopoly they enjoy on the provision of talent. Have we reached peak London?”

“I put this to Jim O’Neill, the cross-bench peer and former Goldman Sachs chief economist. ‘The whole Bric concept, came out of 9/11,’ he said, in reference to the grouping of the major emerging economies of Brazil, Russia, India and China. ‘The message below the surface was that this is the end of American-led globalisation. I suspect you’re onto something. In a way you could see a number of signs that London’s peak might have already been. Arguably Brexit is a very bad thing for London, given what it had done for the internationalisation of London. The real estate market had already peaked four years ago, and the rest of the country kind of hadn’t.'”

“More worryingly, his recent visits to London have crystallised his own fears for the capital. ‘What my generation, what your generation has grown up on seems to be dead, and the whole presumption [about] what’s driven the world economy in the past 40 years is now actually gone. All over the world – and London epitomises it – 60 per cent of GDP has come from big metro cities. I used to call London the Bric capital of the world [as the city that benefited most from the emerging Bric nations], now it looks like the capital of nothing.'”

From Money Control on India. “As the COVID-19 induced lockdown started easing in June there were indications that rents had been trimmed by 15% – 20%. Flexible and smart landlords agreed to re-negotiate rents downwards for a limited period with their existing tenants. The ones who remained stubborn and let go of their tenants have paid dearly with the consequences.”

“By the 1st week of November – rentals quoted by landlords were down 25% from pre-COVID levels at a median level in Mumbai. In the case of premium properties, quotations have dropped deeper anywhere between 30 – 40%. Now as properties lie vacant for months and maintenance bills remain at high levels, owners are pushed into a situation of steep cash outflow every month. Mumbai’s battered and bruised landlords are seeing red with no light at the end of the tunnel.”

“Perhaps COVID-19 will provide a lesson that the market has been teaching over the last 5 years. Real-estate in Mumbai stopped being an investment opportunity a long time ago. The only reason to purchase a home is for the reason it was initially meant to be: end-use. By the end of this brutal carnage, if the lesson has been imbibed by recent apartment owners and prospective buyers – it will be an education that would have been worth it.”

From Stuff New Zealand. “There’s nothing more dangerous than a bunch of politicians who have painted themselves into a corner over 20 years and now face the noise and the heat of a braying mob with torches demanding heads on pikes and instant action.”

“The politicians tend to lash out or throw others into the path of the mob in a panic to avoid being pinned to the wall and torched. It can get ugly and that is exactly what is happening now as 20 years of inaction and short-sighted self-interest come home to roost in the now-toxic politics and economics of the housing market.”

“Homeowners are suddenly $100 billion richer because the Reserve Bank is printing up to $128b and lending it via the banks at obscenely low interest rates to those with inflated equity to outbid first-home buyers. It feels like those at the top of the ladder have been given a chainsaw to remove all the rungs below them and lop off a few aspiring heads for good measure.”

“After so many housing price boom shocks, young renters and their parents are beside themselves. This latest one seems even more obscene because it is the Government’s own central bank that seemed to trigger it, and the most popular Government in a generation seems to either think it isn’t a crisis, or has no ideas on what to do.”

The South China Morning Post. “The number of homebuyers reneging on flat purchases this year has reached an all-time high as the Covid-19 pandemic casts a shadow on the city’s economy, pushing the unemployment rate up and forcing many companies to implement pay cuts as they struggle to stay in business.”

“They have walked away from 47 deals this month alone, taking the total so far this year to 380, the highest since 2013 when record-keeping first started. Last year’s cancellations stood at 335 versus 160 seven years ago. ‘The changing economic fortunes of new buyers due to the Covid-induced recession, could mean the number of reneged purchases continues to increase,’ said Will Robertson, executive director at Nest Property.”

“New World Development saw buyers forfeit around HK$6.8 million (US$877,000) on 13 units at The Pavilia Farm in Tai Wai this month. Sun Hung Kai Properties also saw 13 cancellations amounting to some HK$16 million in the second phase of Grand Yoho in Yuen Long in November.”

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This Post Has 145 Comments

  1. ‘Trump campaign attorney Sidney Powell said during a Nov. 19 press conference that President Donald Trump “won by a landslide,” saying that their legal team will prove it.’

    “American patriots are fed up with the corruption from the local level to the highest level of our government,” she said.’

    “We are not going to be intimidated. We are not going to back down. We are going to clean this mess up now. President Trump won by a landslide. We are going to prove it. And we are going to reclaim the United States of America for the people who vote for freedom.”

    ‘Powell alleged a transnational conspiracy involving the “influence of communist money” from countries including Cuba, Venezuela, and “likely China” to overturn the presidential race via election software.’

    https://www.theepochtimes.com/trump-lawyer-sidney-powell-president-trump-won-by-a-landslide-we-are-going-to-prove-it_3586089.html

    1. The Mechanics Behind the Electronic Vote Steal Operation

      https://www.bitchute.com/video/OJrljwQFcIvc/

      https://twitter.com/tom2badcat/status/1325126091460268032

      https://archive.vn/KPwUa

      Michigan @ 45:20. And on. 5 out of 5 states.

      Another poster added:

      ‘At 31:30 in the video, he explains how Trump was comfortably ahead in all the 5 key battleground states, and suddenly all 5, AT THE SAME TIME, quit counting and went offline for 3 hours.’

      ‘Then when they came back, suddenly there were massive numbers of found votes and were all for one candidate and one candidate only (Biden). Statistically impossible.’

      Lots of info and links here:

      https://everylegalvote.com/country

      https://hereistheevidence.com/

      1. Smartmatic CEO apologizing in the 2017 Venezuela Election for 1 million vote switch

        https://www.bitchute.com/video/e2Fxswdf1SsG/

        ‘In an interview with the Fox Business Channel, Giuliani, in his capacity as lawyer of reelectionist US President Donald Trump, claimed that the Smartmatic vote-counting machines were “hackable.”

        ‘He said Dominion, the company that provided the automated vote-counting system used during the most recent presidential election, was owned by Smartmatic through an intermediary company referred to as Indra.’

        ‘He claimed that the Smartmatic vote-counting machine was basically developed and designed to commit fraud in the process of vote-counting, particularly for the Venezuelan dictator Hugo Chavez.’

        ‘He claimed that Smartmatic had been behind the electoral frauds in many countries, without actually mentioning the Philippines, which has been using its system for over a decade.’

        ‘Giuliani also hinted about the origins of the Dominion- Voting System and the company’s alleged connection with Smartmatic, one of the most questioned automated voting companies, primarily because of the affiliation of the people behind the company to Chávez.’

        ‘He accused Smartmatic of manipulating the recent US presidential election in key US states, adding that its Dominion Voting System was using machines designed to allow human intervention.’

        ‘He said Smartmatic was founded by three Venezuelans who were very close to the dictator Hugo Chávez back in 2003, adding that the company was formed to fix elections. “That’s the company that owns Dominion. Dominion is a Canadian company, but all its software is from Smartmatic,” Giuliani was quoted during the interview.’

        https://manilastandard.net/news/national/339587/smartmatic-poll-machines-come-into-question.html

        ‘Charlie is joined by Lt. General Thomas McInerney to detail the shocking allegations surrounding Hammer and Scorecard, weaponized digital tools that allegedly allow our intelligence agencies to alter election results, including those in the United States. Are these tools actually real? Were they deployed in this most recent election? Can we know who is behind these treasonous acts if they did in fact occur?’

        ‘In what might be one of the most important interviews ever conducted on the show, Gen. McInerney lays out an election fraud scheme in extensive detail on a scale never before experienced in America or the world.’

        https://www.youtube.com/watch?v=Ti3gNXz2F8w

        1. ‘”We began to look and realized how easy it is to change votes.”

          ‘Election security expert @RussRamsland
          has performed many investigations on US election machines.’

          ‘The most *shocking* thing about this interview is it took place just days BEFORE the election. Watch’

          https://twitter.com/kylenabecker/status/1327511568993701888

          I believe this is the gentleman in the top video.

          ‘The claims of unexplained anomalies by Wayne County, Michigan, election board canvassers are validated by one renowned election fraud experts who states, definitively, that Michigan’s election results – across the state and not just in Wayne County – are a “physical impossibility.”

          ‘The examination of the Michigan voter data was performed by Russell Ramsland, the co-owner of Allied Security Operations Group (ASOG). His company specializes in detecting election fraud, cybersecurity, open source intelligence and global security services. Ramsland served in the Reagan administration and has worked for both NASA and MIT.’

          ‘In the affidavit concerning the election in Michigan, Ramsland determined – without question – that vote fraud and ballot tampering took place in the 2020 General Election in Michigan determining the results as they are currently known to be a “physical impossibility.”

          ‘In addressing the Dominion Voting System, Ramsland was critical of its security over-all citing “vulnerabilities to hacking and tampering, both at the front end where Americans cast their votes, and at the back end where the votes are stored, tabulated, and reported.”

          ‘Ramsland noted that the vulnerabilities described are well-known by experts in the voting securing field and that these vulnerabilities have been extensively written about. “My colleagues and I… have studied… the November 3, 2020, election results. Based on the significant anomalies and red flags that we have observed, we believe there is a significant probability that election results have been manipulated…” Ramsland wrote.’

          ‘His colleague, Dr. Andrew Appel, a professor of computer science at Princeton University and an election security expert, said, “I figured out how to make a slightly different computer program that just before the polls were closed it switches some votes around from one candidate to another. I wrote that computer program into a memory chip and now to hack a voting machine you need just 7 minutes alone with it and a screw driver.”

          https://nationalfile.com/election-fraud-expert-michigans-election-results-are-physical-impossibility/

          2. Facts:

            1) Hugo Chavez died in 2013.
            2) These same voting machines were used in the 2016 Presidential election.
            3) The Trump team seems to know too much on how to cheat using these systems.

            Conclusion:

            Trump rigged the voting machines in 2016 to win. Biden figured it out and rigged the machines even more than Trump for the 2020 election. It is a battle of cheaters.

          3. Then why did Hillary concede to fast? Surely this voting machine tech wasn’t known only to Trump. Obama would have known about it, and it was Obama who urged Hillary to concede.

          5. 2) These same voting machines were used in the 2016 Presidential election.

            The Dems thought the 2016 election was in the bag and felt no need to engage in massive fraud. They truly believed it impossible that Hillary would lose to Trump.

          6. Trump rigged the voting machines in 2016 to win

            Curiously, there we no sudden votes counted at 3AM in battleground states.

          7. The seen it all blob needs to make sure his remains are donated to medical research, the scientists will marvel at the smoothness of the brain I’m sure

        2. “Smartmatic CEO apologizing in the 2017 Venezuela Election for 1 million vote switch”

          0:3 – 0:20

          Pelosi ‘Confident’ that Biden Will Be Elected President

          60,165 views•
          Oct 29, 2020

          https://youtu.be/6f69AGwqJ5o

          Dominion Voting Systems: Glitch, Clinton Tie Cause Scrutiny in 2020 Election

          3 days ago

          The firm also hired a lobbying firm with ties to Nancy Pelosi’s former chief of staff.

          According to Bloomberg, Dominion Voting Systems “hired … a high-powered firm that includes a longtime aide to Speaker Nancy Pelosi. … Dominion’s first-ever lobbying firm is Brownstein Farber Hyatt and Schreck. Nadeam Elshami, Pelosi’s former chief of staff, is one of the lobbyists on the account.”

          https://heavy.com/news/dominion-voting-systems-glitch-clinton-pelosi-michigan-georgia/

          3. So they changed it

            They took it off of U tube videos again. These guys must be getting torn apart with the emotional swings.

    2. This is a Real Journalists bedwetting article.

      Washington Post — Anger builds in Black community over Trump’s claims of voter fraud in big cities (11/21/2020):

      http://archive.is/LVosL

      Regular HBB readers all know that what this article really says is Real Journalists build anger in Black community to stoke racial animosity something something Orange Man Bad.

      Related question: when does the Washington Post take down the “Democracy Dies in Darkness” header on their website? January 20, 2021? This “news” organization is such a fraud.

      2. Real Journalists build anger in Black Community to intimidate and shame white politicians into certifying fraudulent election results. It worked in Michigan.

        1. I do know of one Michigan voter who cast his vote early & died before Election Day. Can’t find out if his vote was counted or not.

          1. Same here. Ballot was logged in the day he died. Should have been counted, no reason to believe it wasn’t.

    4. It would be a tragic error to show evidence to this country’s press. Evidence is everything in court though. So she needs to present in court. We have to wait.

      I note that the big media, with a supposed army of investigative reporters is completely empty handed and useless in the search for truth.

      1. a supposed army of investigative reporters

        They now want evidence handed to them on a silver platter yet peddled Russian collusion for four years without any.

  2. ‘The real estate market had already peaked four years ago’

    It was more like 6 years ago. What are some common aspects to this? Most expensive residential real estate on the planet. When Mumbai peaked, per square foot was multiples of central London. London was tops, as was Hong Kong not that long ago. What happened to Sydney’s crown, or Auckland, to Manhattan, Toronto and Vancouver. Briefly South Africa held the title, no more. All are plagued by oversupply and most have been for years.

    1. Silly idea – but thoughts?

      What if banks (with govt encouragement) do a 50 year mortgage with 2% interest? Would that bail out the speculators? Or are downtown condos and houses toast.

      1. Do banks even need to write mortgages anymore? Seems like they are the top of the food chain no matter what happens and even then they are just corporations.

      2. 50 year mortgages would never be paid off. Most people won’t even live that long after they buy their first house. You’re just doing mental gymnastics to try to conjure up ways for prices not to fall.

      4. A 50 year loan would be a choice like the Interest-only loans available today, but safer.

        With a 50 year loan, your payments would be guaranteed likely for the rest of your life. Unlike rent.

        Banks would have a guaranteed interest income stream for a long time. However, it could hurt banks for 50 years if the Fed raises rates at some point again.

        I think it is more likely mortgages will switch to a long term ARM type model like they have in Canada and Europe. ie for 10 years, the rate will be locked to the current low rates. After 10 years, they will re-adjust. By then, hopefully the payer will be earning more money and can handle any increase in payments. The banks won’t be stuck for 50 years taking a loss on a 2% mortgage when rates are at 5% again.

  3. ‘After so many housing price boom shocks, young renters and their parents are beside themselves. This latest one seems even more obscene because it is the Government’s own central bank that seemed to trigger it, and the most popular Government in a generation seems to either think it isn’t a crisis, or has no ideas on what to do’

    We gotta get rid of these globalist central bank scumbags.

  4. ‘What my generation, what your generation has grown up on seems to be dead, and the whole presumption [about] what’s driven the world economy in the past 40 years is now actually gone. All over the world – and London epitomises it – 60 per cent of GDP has come from big metro cities. I used to call London the Bric capital of the world [as the city that benefited most from the emerging Bric nations], now it looks like the capital of nothing.’

    Nothing we were promised about globalism has come to pass after decades of lies. Did it end wars? Nope. Middle classes in Mexico and China. Not really, probably more poverty than ever. Failed narco state to boot. Now CCP controlled Chinese mafia floods the world with fentanyl. These stupid lockdowns are driving over 100 million people into poverty. Let me tell you something globalists: you can stick yer great reset up yer a$$.

    1. Of course the rigged Globalist monopolies where designed to loot and drain wealth from people .
      25 years ago was the start of the big sell out by Washington DC Politicians.
      This isn’t capitalism .
      These Looters now are taking free speech and next it will be the guns. They have the power to tax and pick the winners and losers in their vicious power play against freedom .
      Evil people who by false narratives want to crush the individual in favor of collective insanity.
      I think of Ayn Rand’s warnings in Atlas Shrugs about the evils of Commie collective thoughts. I don’t think she talked enough about the evils of monopolies and Globalism crushing capitalism. Her capitalist were also so noble in her Books, but the current Globalist Monopolies are more like Looters and Control freak parasites buying off Politicians.
      Stealing elections to muzzle the vote of free people so they can be enslaved by these power mongers who want to lock you down and than impose a reset in their vision with no representation.
      I remember some of the sleazy characters in Ayn Rand books and they are on the World stage now wanting to kill the human spirit in favor of Commie BS.
      Rand would be turning over in her grave that Globalist Monopolies formed and crushed capitalism in favor of rigged looting systems by parasites and anti human control freaks no different than Stalin and Hilter.
      Don’t know if they are going to prevail in this rigged election or not, but this is the most outrageous invasion on American principals I have ever seen and it’s mind-blowing if this Biden creep sell out prevails.

    2. Nothing we were promised about globalism has come to pass after decades of lies. Did it end wars? Nope. Middle classes in Mexico and China. Not really, probably more poverty than ever. Failed narco state to boot. Now CCP controlled Chinese mafia floods the world with fentanyl. These stupid lockdowns are driving over 100 million people into poverty. Let me tell you something globalists: you can stick yer great reset up yer a$$.

      THIS is what we need to see on the news. Instead, we’re told that some corn-syrup laden, xy chromosomed, mentally ill sh!tbag can have a period just like a girl.

      1. Are you saying that girls are mentally ill sh!tbags?
        As for periods, it’s not exactly a choice. What do you want us to do? Get hysterectomies?

        1. I’m not trying to be a blue-haired feminist here, but I’ll be the first to admit we got the short end of the biological stick.

          3. There is nothing inherently wrong with women whatsoever. There is, however, something seriously wrong with the current system in our country, which has turned a lot of women into something men should run far and fast from.

        2. Are you saying that girls are mentally ill sh!tbags?

          Of course not, oxy. I was talking about those freaks who are men but are trying to convince us they are women. There was something posted recently about how “not only women bleed.” It was despicable. I meant no disrespect to women whatsoever.

          1. More about women pretending to be men, no? But still having periods of course.

            We’re supposed to call them men.

          2. More about women pretending to be men, no? But still having periods of course.

            Perhaps. I’ve lost track of this stuff, tbh. It’s off the rails.

        3. Confirmation of the ancient wisdom right here on the blog

          The term hysteria comes from the Greek word hysterika, meaning Uterus. In ancient Greece it was believed that a wandering and discontented Uterus was blamed for that dreaded female ailment of excessive emotion, hysteria. The disease’s symptoms were believed to be dictated by where in the body the offending organ roamed. It was not religious belief but a social belief.

          The ancient Greek physician Hippocrates was one of the first to identify this disorder. He noticed hysteria was common in women and thought it was caused by a displaced or “wandering uterus”. Because there was very little understanding of women’s biology the term “Hysteria” was used to describe most of the physical and emotional female illnesses.

  5. My apologies if this was already posted.

    PA House Republicans
    @PAHouseGOP
    ·
    23h
    #PAHouse State Govt Cmte Chair Seth Grove details how Dominion Voting Systems were used by 1.3 million PA’ns in 2020 General Election. 19% of the total votes cast in PA’s 2020 General Election were cast on Dominion’s systems. Dominion abruptly canceled today’s hearing.

    https://twitter.com/PAHouseGOP/status/1329816292141002754

  6. “For a fourth straight month the number of vacant apartments in New York City increased”

    I can’t imagine why?

    New York Times — ‘I Am Shaken’: Spate of Violent Subway Attacks Unnerves Riders (11/20/2020):

    “The three attacks were part of a worrying trend: After overall crime on the subway dropped significantly during the citywide lockdown this spring, violent crimes have started to increase. So far this year, incidents of felony assault, rape, homicide and robbery on the subway have surpassed the number of those crimes committed in the same period last year.

    Now, as the financially battered transit agency that runs the system warns of major service cuts and fare hikes if it does not get substantial federal aid, the rise in crime has stirred fears among riders and complicated officials’ efforts to coax people back to the subway.”

    http://archive.is/np4W2

    1. Very reliable person who knows a second year NYC Police officer told me there was a shooting or shootout in the Bronx last week. Bunch of 911 calls came in, dispatcher called out for any units in the vicinity and there were 3 units that were close enough to respond, but none did.

      That being the case who can blame them. You show up and some thug points a gun at you, you shoot him in self defense while doing your job and your up on murder charges while your family is Doxxed and your city is burned and looted.

        1. “Time to resign and move somewhere else, IMHO.”

          NYPD woes mount: Patrol chief’s sudden retirement part of ‘troubling’ exodus

          NEW YORK
          Published October 17

          The New York Police Department – said to be the largest police force in the nation – is in the grip of a “troubling” shakeup, as retirements and resignations continue to mount, officials said.

          The NYPD said in an email to Fox News this week that 2,385 officers have submitted their retirement papers this year as of Oct. 6 – an 87% increase from the 1,274 retirements reported during the same period in 2019.

          https://www.foxnews.com/us/shakeup-nypd-new-york-city-police-chief-retirement-department-departures

        2. Tucker Carlson: ‘Defund the police’ was a disaster for Democrats, and don’t you forget it

          TUCKER CARLSON TONIGHT
          Published November 10

          In fact, when the “Defund the police” movement started this summer, few knew what was going on. As with so many faddish hysterias that sweep our culture, most people just went along with it. They were afraid not to. So when Black Lives Matter (BLM) vandals painted “Defund the police” on a major thoroughfare in Washington, the incompetents who run that city let it stand for months. They were proud of it, and they said so. Gadflies like Sandy Cortez from Westchester went on television to explain that defunding the police was cool and would make American cities look like a suburb, just like the one she grew up in.

          The reality, of course, was very different. America’s cities did not become suburbs as the summer ground on. In fact, our cities burned. The elderly were beaten and killed by thugs. Crime skyrocketed in every metro area in the country. Things fell apart, as they were always going to.

          By August, shootings in New York City had increased by more than 80% over the year before. There is no precedent for that. Defunding the police was killing Americans in huge numbers. And yet, remarkably, the very people who claim so loudly to care about gun violence decided not to notice what was happening. They never mentioned it. By September, when virtually every person who could afford it had fled the cities in fear of disorder and chaos, Kamala Harris was still repeating the same BLM-approved talking points, still attacking the police. Here she is in a tape she certainly wishes didn’t exist.

          In Minneapolis, which was the first city in America to embrace this lunacy, more than 100 cops are now leaving the force. Crime has become so bad in Minneapolis that the very politicians who once demanded that we defund the police are now begging for more police. City officials are now considering bringing in officers from other jurisdictions to restore order and keep citizens from being killed. Violent crime there is up 22% over last year. How’d that happen? You know how it happened and voters do to.

          https://www.foxnews.com/opinion/tucker-carlson-defund-police-democratic-disaster-election-2020

    1. “It’s the year 2030. You’ll own nothing, you’ll have no privacy, and you’ve never been happier.”

      This is actually real.

      Their goal is to *ERASE* humanity as we know it.

      1. Yeah, but that must be cool with all the anti fascists and BLM”ers and media, etc. since even outfits like The North Face use ‘great reset’ in their ads.

        1. Actually, TNF is using ‘Reset Normal’ as their ad campaign. Makes me wonder when they got woked.

  8. Any HBB’ers have experience with owning a camper trailer? Not necessarily for travel and towing it around with you, but to park on private land semi-permanently.

    I have never owned one. What I am looking for is a box on wheels that has heat and a bed. Any solar / electrical work I would do myself, this is a location in Southern Colorado that is excellent for solar power year round. I camped down there the other night and the high on Thursday was mid-70s but the following morning my tent is covered in frost, which is approaching my cold-weather limit for tent camping.

    2. My opinion: If you’re never going to move it, get something on the larger side – a park model or a large 5th wheel. Look for something with 2″ blue Dow insulation since it will be cold in the winter.

      Personally, I’d just build a cabin if I were you. You would be money ahead and most places allow you to do up to 200 square feet without a permit. That’s a bit smaller than a large RV, but if you do a vaulted ceiling with a sleeping loft, small bathroom and great room it’s perfect.

      1. The camper trailer would be for short stays, not a permanent residence.

        If I build on the property, that would done in stages, because I’ll be paying cash for everything.

        Concealing details to prevent dox, but the owner of the land will let me do anything I want there and come and go as I please as long as I clean up after myself.

        I am negotiating the purchase of the adjacent lot, tentatively spring of next year. I could buy the trailer, tow it to the property and let the temp tags expire since I’d only be moving it next door.

        As I wrote, I’m looking for a box on wheels with a bed and heat, not looking to drop more money than necessary for the minimalist setup I want.

        1. As I wrote, I’m looking for a box on wheels with a bed and heat, not looking to drop more money than necessary for the minimalist setup I want.

          Forget the RV. You don’t have the time to find something clean anyhow. You can buy a brand new enclosed trailer and kit it how you’d like, and it’s stealth. Get a 7’x16′ 7k dual axle high roof Cargomate Blazer or similar (most brands have similar specs). Search “trailertrader” or canvass all the local trailer sales lots online. You should be able to find something under $6k. Radius roof is better for drainage in snow country. Make sure it has the 4′ RV side entry door. You can lock that from the inside.

          Once you find it, build a bed frame out of used pallets. Buy yourself a high quality new memory foam mattress. Get an Olympic Wave catalytic heater as a heat source. Grab a couple 30 lb propane bottles and plumb in a propane line through the floor. The trailers come with a ceiling vent which is enough for fresh oxygen.

          You’re an electrician – you have the best skills to go from there. Set it up with 400 watts of solar to start with, MPPT controller, cable and a pair of 6 volt 235 ah golf cart batteries wired in series to get 12 volts. You don’t need the best, get some Duracell from Batteries Plus. They’re made by the same place that brands others. Grab a Go Power 2k watt inverter and some 4/0 cable, 400 amp fuse, etc. to hook it up. That’ll get you enough power to run lights, charge electronics and run some fans and things without even needing a generator unless cloudy. If you want a cheap generator, get a Champion brand. If you want good, go with a Honda EU2200i.

          Buy a Progressive Dynamics 70 amp converter/charger and wire a pigtail onto it to plug into the genny. You can charge your batteries on cloudy days.

          You can use a 5 gallon bucket, a toilet seat and some cedar chips when mother nature calls. That’s a good start.

      2. I’d just build a cabin if I were you

        Same here. I’ve done everything from a pup tent to a class A. Campers aren’t built with much insulation and the cost for newer is outrageous. If you’re going to do the wiring, just start with bare studs. If you don’t want to frame it up, look at prefabbed sheds maybe.

        I know of one guy who put up two, which didn’t require permits, and then connected them.

        2. All constructive comments much appreciated.

          To clarify, this is a *NOW* thing, not a next year thing. With the lockdown situation getting worse every day I could buy a trailer and have it towed down there next week.

          A permanent structure may or may not happen, but I want shelter away from the urban Front Range, and I want it soon.

          2. To clarify, this is a *NOW* thing, not a next year thing. With the lockdown situation getting worse every day I could buy a trailer and have it towed down there next week.

            OK, that’s a little clearer. The only problem is that you’re highly likely to have to overpay to make it happen really soon. But yeah, any trailer with a working heater should work short term. Long term you will have issues with burning a ton of fuel for heat because of the poor insulation mentioned above, and if you try to use the bathroom in the trailer in really cold weather you have issues with the clean water freezing and the dirty water freezing, and it takes a lot of both to live a normal, shower-every-day lifestyle. I think you’ll want a different long term solution, so just do whatever you can find cheap for a short term solution I guess.

          3. I’ve been toying with getting a trailer for a couple years. We occasionally visit my dad in the desert to go offroading in his Jeep Rubicon. Forrest River’s r-pods are popular but I’ve read bad things about their warranty and customer service. I like The Little Guy Max but it’s too small for us; only 2 of 3 people would make it back home. Winnebago has a good reputation and a number of overlapping product lines. Outdoorsy is the Airbnb for trailers. It’s been suggested that I try a few trailers out before committing to one.

          4. Wet baths are also a deal-breaker for some women so choose accordingly. It might help rule some out. 😉

          5. “any trailer with a working heater”

            That’s what I want. Regarding the bathroom situation, that’s what a shovel is for. Since I wouldn’t be occupying the trailer full-time I wouldn’t want any kind of water inside of there. If I were to spend multiple days on the property in sub-freezing temperatures I can melt water for drinking and washing as needed.

            I have tent camped in weather as cold as Zero F. It’s not enjoyable, I’m looking for a minimalist step up from that.

          6. Redpilled Redhead, the short term trailer situation is not about the comfort of female guests.

            That said, I have female friends who have climbed Denali in Alaska. That’s three weeks without any kind of full immersion bathing. For them, staying on the property in these circumstances would be like staying in a hotel compared to Denali.

          7. issues with the clean water freezing and the dirty water freezing

            I have lived in my rig during the winter. It’s called dry camping. No water in the fresh tank and nothing in the holding tank. Water is in gallon jugs and the toilet is a 5 gallon bucket with a plastic bag liner.

            Sorry to those sensitive about creature comforts. I didn’t invent this. Plenty of “van living” how to videos out there.

          10. I have tent camped in weather as cold as Zero F. It’s not enjoyable, I’m looking for a minimalist step up from that.

            As we get older, our preferences (and needs) change. My friends and I used to mock people in RVs (in good fun) while we tent camped. In my mid 20s I did a snow camping trip in -25 January weather. I stayed toasty warm because of my down comforter and sleeping bag, but the inside of the tent in the morning was wet from condensation as if a rainstorm got in.

            Fast forward 10 years or so to a camping trip from hell where I woke up with debilitating back pain and I decided my days of sleeping on the ground were, for the most part, over with.

          11. What would be a deal breaker on a small trailer is having to climb over each other to get to the bathroom or water in the middle of the night.

          12. I guess it all comes down to budget.

            If it were me, I know I would be looking hard at a van conversion for two purposes:

            1) Self Propelled – If I have fallout with the person letting me stay on their property, I can move elsewhere. Also removed the need for a vehicle to get to/from it – no car parked nearby to give things away. Superior bug out capability. 4 Wheel drive and solar on the roof would enable some serious off grid camping.

            2) Stealth – done properly, the van could blend in if parked somewhere in an urban environment. I’d be tempted to add graphics like “Joe’s plumbing service” or some other generic business that people wouldn’t think twice about having a work van.

            It would support extended camping/boondocking, but would stay with you and not be parked semi-permanently at a remote location. Plus you could do the build-out yourself and customize to fit.

          13. I guess it all comes down to budget.

            If it were me, I know I would be looking hard at a van conversion

            Those are rich people toys. You’re going to be into it $100k+ if you buy new. And, those high top Mercedes Sprinters are anything but stealth. They stick out like a sore thumb. They are ginormous, and everybody knows people are living in them.

            The #vanlife thing is for wealthy techie workers and people who need to be mobile with their bed, essentially, and are urban. He’s talking about far away rural land. A Sprinter out in the sticks? LOLZ. If anything, you’d be a target. An old trailer or, like I said, a non-descript white cargo trailer are the best bet.

          14. If anything, you’d be a target. An old trailer or, like I said, a non-descript white cargo trailer are the best bet.

            Even an old trailer would still be a target, especially if prying eyes noticed it was unoccupied for long periods of time. 401/dep said it would be for short stays. A lot for his specific situation surely depends on the size/layout/location of the property and the relationship he has with the owner.

            Re; vans. One doesn’t have to go with a new Sprinter – a used Transit or the like offers as good of a starting point.

            One thing you are exactly right about is that the #vanlife crowd has raised the awareness of people living in vans by a huge amount. On the flip side a whole mini industry has sprung up making equipment and accessories for van builds, making DIY builds a lot easier.

            One thing about just getting a used small trailer is that it’ll be more or less turnkey.

          15. With the lockdown situation getting worse every day I could buy a trailer and have it towed down there next week.

            A permanent structure may or may not happen, but I want shelter away from the urban Front Range, and I want it soon.

            Do you want a minimalist camping setup or a bug out? I would think that the latter requires a bit more than the former.

          16. One thing about just getting a used small trailer is that it’ll be more or less turnkey.

            👆👆👆

        3. If it were me, I know I would be looking hard at a van conversion

          I agree, although if you’re looking for a good used deal 4wd can be almost impossible to find. With my recent experience I also thought about the shortest class C RVs. They can be parked in normal spots so it’s easier to get around a city with them or park them at your house in the burbs, but the right models can also pull a big trailer for when you need to carry a ton of stuff around or bring more living space with you. But I can see how the right van conversion could be similar in capability and much more stealthy although a bit less comfortable.

    3. Thank you for all the replies full of useful information. I enjoy the level of engagement that happens here on the HBB much more than I could get from watching YouTube videos.

  9. Wayne County canvassers doxxed and threatened over votes
    Ashley Nerbovig
    Detroit Free Press
    2 days ago

    An online swarm of outraged Michiganders, verified users and amateur internet sleuths turned the topic of a local Zoom meeting into a vicious national frenzy Tuesday night.

    After Republican members of the Wayne County Board of Canvassers first refused to certify the results of the election, Twitter users spammed the site with their names, personal details and links to their social media pages. The goal appeared to be to create offline consequences for the two Republican board members, Chairperson Monica Palmer and William Hartmann. People scrutinized Hartmann’s Facebook posts going back to 2013. One user called for people to find out where the two worked. Another user believed he found a Boy Scout troop for which Hartmann was a scout master.

    Some people watching the meeting online became outraged when the two Republican board members made the unprecedented move to vote against certifying the election in 43 jurisdictions. This meant not certifying the votes in places such as Detroit, Michigan’s largest voting jurisdiction. After more than two hours of public comment, the Republican members changed their votes.

    https://www.freep.com/story/news/politics/elections/2020/11/19/wayne-county-canvassers-doxxed-threatened/6340324002/

  10. If you don’t have a COVID pandemic you can’t have any stimulus! How can you have any stimulus if you don’t have any COVID pandemic!?

    https://youtu.be/d5IkJz7WH7M?t=441

    Whitmer says state can’t do much to help laid-off workers, calls for stimulus package

    Paul Egan
    Detroit Free Press
    Nov 16, 2020

    LANSING — Gov. Gretchen Whitmer on Monday offered little hope regarding state help for restaurant and other workers who may lose their jobs as a result of new coronavirus restrictions announced Sunday, saying Michigan’s finances are also tight.

    That is why a new federal stimulus package is more essential than ever, Whitmer said.

    Whitmer said on a call with Capitol reporters she will join other Midwest governors from both political parties Tuesday in making a joint appeal to Congress for help.

    “Our resources are strapped,” Whitmer said of the state of Michigan. “That’s why this stimulus is so important.”

    She said unemployment insurance is available, but that help is very limited compared to what it was early on in the pandemic, when more federal help was available.

    https://www.freep.com/story/news/local/michigan/2020/11/16/whitmer-unemployed-coronavirus-stimulus/6266733002/

    1. “Our resources are strapped,” Whitmer said of the state of Michigan. “That’s why this stimulus is so important.”

      Wha? You mean when your socialist dictatorial policies kill off the productive economy, you become resource-constrained? Odd, I dimly recall a childhood tale about killing the golden goose….

    3. All of the malgoverned, up to their eyeballs in debt with huge deficits, states and municipalities are counting on Pedo Joe to sign off on the mother of all bail outs.

      Many governors are holding back on lockdowns because they know there isn’t any free cheese available this time.

      1. Hawaii officials have changed the quarantine rules once again, stating that if you don’t have your negative test results back before you land, you must quarantine 14 days, even if the result comes back negative after. You have to get the test 72 hours before departure. Another blow to tourism, although I’m seeing a decent number of visitors on the beaches. Many even wear masks, so stupid!

        Also seeing people selling everything on Craigslist, stating that they are moving to the mainland. At the same time I’m seeing lots (for here) of license plates from out of state. Houses under a million are selling quickly and at crazy prices so lots of people are listing hoping to reel in a big suckerfish. Still in awe of the number of million dollar plus places that keep coming on the market. Were these all airbnb gurus?

  11. ‘This is a housing crisis. Hundreds of thousands of apartments that were occupied a year ago are now sitting empty,’

    One man’s crisis is another man’s opportunity. Get the gubmint to stand back and stand by, and the free market can easily resolve this “crisis.”

  12. “help for restaurant and other workers”

    Here in Region VIII, all of the urban Front Range counties are now under “Code Red” as of yesterday. This is forced starvation for those restaurant workers.

    The people in Dumver who wear masks while driving alone, have some pretend “work from home” job, and get all of their groceries delivered don’t care about those workers.

    As long as Florida stays open, I might take a road trip down there this summer. My cousin and her fiance both work in restaurants in Florida, they are “allowed” to have jobs and pay their rent and not starve to death, imagine that.

    2. The Control freaks are trying to make it impossible for People to communicate or get real facts or dispute to their false narratives.
      Lock everyone down and impose curfews so they can’t revolt, unless they are the Commie Looters .
      This attack on small business is deliberate and sinister, and bizarre lack of science about masks and lock downs.
      First it was just flatten the curve to shore up the medical system. Now it’s false narratives of using a flu to rig a election and lock down and destroy , and usher in a Great Reset by Hilter like nuts like Soros and Klaus Schwab.
      Back in George Washingtons day they didn’t allow Corporations to contribute to elections. The High Court overturned that saying that a Corp will have the right of a individual. So, it’s decisions like this that have undermined a government by the people.
      Look at how much money was pumped into this election by big money to buy who knows what. I think it went beyond just buying TV ads.
      If these nuts actually had good ideas they wouldn’t need to bribe or contort the truth with suppression of facts in favor of their false narratives. Their narratives are stupid , false,racist, and dangerous . Unreal

    3. This is forced starvation for those restaurant workers.

      Polis knows he playing with a live grenade that has had its pin pulled out. The state assembly is hastily trying to put together a stimulus package, but that’s hard to do when you flat broke and TABOR won’t let you raise taxes. The state stimulus is going the be a paltry one time $375 check for the state’s unemployed, which is pretty much useless.

      Per the Colorado Sun, there are over 100,000 restaurant workers who will be affected by the dine in shutdown. Maybe keeping them employed would have been more effective.

      1. Polis knows he playing with a live grenade that has had its pin pulled out. The state assembly is hastily trying to put together a stimulus package, but that’s hard to do when you flat broke and TABOR won’t let you raise taxes.

        They’re all counting on China Joe and .gov largesse.

  13. ‘This is a housing crisis. Hundreds of thousands of apartments that were occupied a year ago are now sitting empty,’ said Jay Martin, executive director of CHIP.

    Gosh, that sounds more like a speculator crisis.

  14. ‘In some places, an owner would have to drop the rent by 50% to rent out an apartment. But, most owners cannot sustain that type of operating loss for the next few decades because of the high operating costs, especially property taxes,’ explained Martin.”

    Okay, so my grasp of Marxist economics is a bit hazy, but if the Comrades of Proven Worth (D) who control every one of our big cities keep driving out the tax base, while pandering to their ever-growing votes-for-entitlements base and pouring huge sums into corrupt patronage and graft schemes, doesn’t that mean property taxes are going to have to keep going up? And as the productive economy withers and dies on the vine, how are landlords going to pass those costs on to the shrinking pool of employed, credit-worthy renters?

    I fear an “Oh dear” moment in time approaching….

    1. It’s been going on in the northeast for decades. Just check out the taxes on those places. The prices, of course, fall to account for those extreme carrying costs.

  15. “In addition to the growing number of vacancies, the CHIP survey found that 17.6 percent of residential tenants have paid no rent in November. Additionally, 43.4 percent of commercial properties have paid no rent.

    Ah, but the thing is, with all those trading fortunes that are being built on Robinhood by the genius lockdown retail investors, surely all of that back rent is going to be paid in full, along with profuse notes of gratitude and a bottle of top-shelf whisky to the revenue-starved landlords.

    That’s my story and I’m sticking to it.

  16. Arguably Brexit is a very bad thing for London, given what it had done for the internationalisation of London.

    F**k London. BREXIT was a middle finger from British people to the globalist oligarchs who turned London into the epicenter of global financial fraud and predatory finance, while changing the character of that once-great city into a multicultural Tower of Babel with such delightful features as Sharia no-go areas and regular attacks by knife-wielding Religion of Peace adherents. The “internationalization of London” was only the globalists first step in their “fundamental transformation” of what had formerly been Great Britain, before it was ruined by post-WWII socialist governments working hand in glove with their globalist moneybags.

    1. Than the creep Soros came along and shorted the British stock market picking up a billion pounds in one day.
      George Soros once said in summary that it was boring just being rich and making a difference in the World became his objective.
      I heard Soros say on a Tape in his creepy voice that he was going to take care of Trump in 2020. Did that mean rig the election?

      2. George Soros once said in summary that it was boring just being rich and making a difference in the World became his objective.

        Every single billionaire in the world has a thirst for power, because money is no object anymore.

    2. Remember when London’s mayor said that terror attacks in the city were “part and parcel” of the reality of living there?

      You can’t make this up. The stupid, it burns…

  17. In the case of premium properties, quotations have dropped deeper anywhere between 30 – 40%.

    Is that a lot?

  18. Not sure if anybody posted about it yet, but Kyle Rittenhouse got sprung from jail yesterday.

    Facebook is blocking and banning people who post supporting him.

    One of his attackers who Kyle killed in justified self-defense did a decade in prison in Arizona for raping children. This is who Facebook has aligned themselves with, this is what Facebook supports.

    1. All of Kyle Rittenhouse’s attackers that night had felony convictions. Two of them were affiliated with revolutionary Communist groups. Kyle took out the trash, pure and simple.

  19. This is outrageous. There is no justice in the world. Bill Barr is a globalist sh!tbag. That’s why Trump has been very critical of him of late.

    The United States dropped the case against retired General Salvador Cienfuegos this week citing “sensitive and important” foreign policy considerations that outweighed interest in pursuing the charges.

    In return, Mexico privately told Barr it would work with the United States to arrest a high-level cartel leader involved with trafficking large quantities of the synthetic opioid fentanyl, the source said.

    https://www.yahoo.com/news/exclusive-mexico-agreed-u-attorney-002024949.html

    1. Not only should charges never have been dropped in the first place, such a deal should have hinged upon the delivery of the narco. Instead, Mexico just has to pretend like they’re doing something. This is the worst agreement I’ve ever seen. I think the US government is in on the drug trade.

      1. Not the Feds, the CIA and their Deep State companions. We’ve been seeing this since the end of WW 2. Drugs, at scale, are like the 3 Laws of Thermodynamics: You can’t win, you can’t break even and you can’t get out of the game.

        As long as we keep this ugly kind of trade in the dark we’ll keep seeing the kind of people who like living in the dark running the show.

    1. I visited Berkeley when I traveled to the Bay Area for the first time last year, and was thinking about Mario Savio and the Berkeley Free Speech Movement of 1964 while I was there. Less than sixty years later and look what that place has become.

      And yes, the restroom at the People’s Park there has a sharps disposal container for used needles. Rather “progressive” indeed.

      1. “…and was thinking about Mario Savio and the Berkeley Free Speech Movement of 1964 while I was there.”

        In those days our young adults were being drafted and killed in Southeast Asia’s guerrilla war of attrition.

        1. That’s a myth. The majority of men who fought in combat and were killed or wounded were volunteers. There are multiple websites on casualties and the draft. In WW II the proportion of men who served that were drafted was about two times higher compared to Vietnam.

          1. So what? A lot more men were drafted in WW II, that’s part of your obligations to your country. The “myth” I was speaking about was that it is portrayed in the movies and popular press that most of the men who were killed in the Vietnam War were draftees.
            That is false.
            Men were only drafted into the Army. All of the Marines that served were volunteers, as well as were those in the Navy and Air Force.

            I visited UC Berkeley with my brother during the summer of 1973, right after the Draft ended. The place was as quiet as a cathedral. Funny how the protests by students ended precisely at the same time the Draft ended. There weren’t any hippies singing songs about “San Francisco” and so forth. No student riots trying to break every window on campus, either.

          2. The “myth” I was speaking about was that it is portrayed in the movies and popular press

            You were saying that it was a myth that we were being drafted. It was quite real to us then. WWII has nothing to do with it.

          3. What’s the big deal with being drafted? The draft started in WWII. The draft then was relevant to the draft after the war. Peace and Freedom aren’t Free. Remember?

            That some members of the Boomer Generation thought that they were special and didn’t have to fulfill their obligations, that doesn’t mean that they were entitled not to serve.

            The members of the Boomers are still messing up the Country today. And that’s no myth.

          5. Are you trying to beat Bill Clinton in a word parsing contest? I was responding to the sentence of the O.P.:

            “In those days our young adults were being drafted and killed in Southeast Asia’s guerrilla war of attrition.”

            Now, this sentence can be taken in different ways. It implies that the men [not “young adults”, women weren’t drafted] being “killed” were draftees.

            I was simply pointing out that only SOME of the men being killed were draftees, while in fact most of the men killed and wounded in the Vietnam War were were volunteers.

            The “myth” today that pops up in movies, the popular press and in everyday life is that the men killed in the Vietnam War were a bunch of draftees driven out of their minds by sadistic Army Officers. The men killed in the Vietnam War were poor working class draftees, while the rich white kids like GWB, Trump and Rush Limbaugh, avoided being drafted because the got deferments.

            There weren’t any soldiers in the Army or Marines that actually volunteered because only a crazy person would volunteer for that morally corrupt war. It’s common knowledge that only poor white and black draftees were sacrificed in the Vietnam War started by Evil Republicans. Right?

            Of course that’s all nonsense since most of the men killed in the war were not draftees, they were volunteers. I have several friends that volunteered and fought in combat in Vietnam. And of course, JFK started the War and LBJ poured the gasoline on the fire and is responsible for mess that followed.

            So just lighten up, the draft is a part of being an American citizen. You should be more upset with the fact that most of Congress opposes Trump’s actions to close out the war in Afghanistan and Syria. Americans still are at war and being shot at. Who cares what happened 50 years ago because you can’t change the past. The entire Democrat Party and the left came down with amnesia when Obama became President. They forgot all about the men and women that were fighting and dying in a war happening on the other side of the globe. And even today lots of Democrats and Republicans seem eager to keep our troops over there.

  22. GEORGIA POLITICSKemp Calls for Signature Audit, Endorses Voter ID for Mail-In Balloting

    AllOnGeorgia
    November 20, 2020

    As he endorsed the certification of the November 3rd General Election from the Governor’s Ceremonial Office at the Georgia State Capitol, Governor Brian Kemp delivered the following remarks regarding the results of the 2020 election in Georgia on Friday:

    Given the record number of absentee ballots and narrow margin in the November 3rd election for president in Georgia, I joined many in backing a hand recount and urging a thorough investigation into any voting irregularities. The Secretary of State oversaw a complete audit which revealed significant errors made in several counties, including: Floyd, Fayette, Douglas, and Walton.

    “It is important for Georgians to know that the vast majority of local election workers did their job well under unprecedented circumstances, and I thank them for their service. However, it’s quite honestly hard to believe that during the audit, thousands of uncounted ballots were found weeks after a razor-thin outcome in a presidential election. This is simply unacceptable. I have heard directly from countless Georgians. They expect better, and they deserve better.

    “It’s important to note that this audit only looked at ballots, not the signatures on the absentee applications or the signatures on the ballot envelopes. The Georgians I have heard from are extremely concerned about this, so I encourage Secretary Raffensperger to consider addressing these concerns. It seems simple enough to conduct a sample audit of signatures on the absentee ballot envelopes and compare those to the signatures on applications and on file at the Secretary of State’s Office.

    https://allongeorgia.com/georgia-state-politics/kemp-calls-for-signature-audit-endorses-voter-id-for-mail-in-balloting/

    1. With the lowest interest rates in history, plus jobs coming back from the pandemic recession, is it safe to say that real estate can only go up from here?

  27. Long time follower of this blog. I have seen the local real estate around me selling within a week or two. I have three friends who have sold because they all of a sudden saw how much houses were going for and were ready to move to cheaper places to raise their families. Our family has put offers in on homes since the last bust when people were buying all cash and really thought that this pandemic and that prices were going down slowly before it would lead to a semi affordable house. Not sure what to make of everything going on. I friend said a local landscaper he knows is working on over 10 new projects that are all for people who have moved from San Francisco to the central coast of Califonia where I reside.

  31. “This is a housing crisis. Hundreds of thousands of apartments that were occupied a year ago are now sitting empty,’ said Jay Martin, executive director of CHIP. ‘In some places, an owner would have to drop the rent by 50% to rent out an apartment.'”

    From 2000 to 2019, the median gross rent in NYC increased 42.4% adjusted for inflation, while the median work earnings per worker fell. The number of employed residents of the city increased by 850,000, but they were squeezed into the same 2.5 million housing units as 20 years earlier, as more units were occupied by those who had retired.

    https://larrylittlefield.wordpress.com/2020/10/05/the-2019-american-community-survey-last-year-compared-with-prior-economic-peaks-nyc-and-the-u-s/

    Was that a crisis?

    A lot of stuff you are hearing about public safety is propaganda from New York’s overfunded police department, and the politicians in their pockets.

    But this stuff is real. You don’t think that in six months, with the economy opening up, and the pandemic behind us due to vaccines, young people aren’t going to want to move to New York City for 50 percent less in rent? Sure they will. The trouble is, people overpaid for the buildings.

    1. Larry and if they are rent stabilized apartments the preferential rent becomes the new base rent and can only increase from there not the old rent after the lease expires.

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