Markets That Previously Commanded Expensive Rents Are Now Thick With Supply
A report from the San Francisco Business Times in California. “An iridescent San Francisco luxury apartment tower stretching 42-stories toward the sky has been welcoming residents over the past year, but a subcontractor involved in making the project a reality alleges that there is unfinished business with those who did the work. Hired for reinforcing steel and post-tensioning work at Essex Property Trust’s tower at 500 Folsom St., CMC Rebar West, a subsidiary of Texas-based Commercial Metal Co., has sued for over $5 million for unpaid work.”
“The lawsuit names the tower’s general contractor, Webcor Concrete, and a number of limited liability companies connected to owner Essex, a real estate investment trust that acquires, develops and manages multifamily properties in West Coast markets. It seeks to foreclose on a mechanic’s lien recorded by CMC in August for $5.6 million for labor, supervision, materials and equipment provided by the company for the project. Liens force payment by preventing a property’s sale or refinancing until they are removed. Filing the lawsuit is a necessary step in enforcing the lien.”
“Designed by SOM Architects, 500 Folsom St. includes units ranging from studios to two-bedrooms with rents starting at $3,500 per month and began leasing in 2019. The tower includes 32 penthouses and 109 below-market-rate apartments.”
The Business Observer Florida. “The Floridian, is what Larry Lieberman calls a reimagining of the active adult community concept. The model? Build high-touch, amenity-rich resort-style communities — ‘a place that would rival a country club,’ says Lieberman. But the pandemic —people in the Midwest, Northeast and in particular, Canada, aren’t able or willing to come down and see The Floridian in person — has stalled momentum. ‘People are saying gosh, ‘this is exactly what I want, but I can’t get down there right now,’ Lieberman says. ‘I believe there will be a lot of pent-up demand for this.'”
“Lieberman’s biggest lesson in multifamily development in Florida, and elsewhere, is tired-but-true: a strong market eventually comes down, so always be prepared for it. ‘Apartment guys will always overbuild,’ he says. ‘If you happen to be on the wrong end of the cycle, you are in trouble.'”
From Time Out New York. “Everyone knows there are a lot more apartments available to rent in the city than there used to be, but the actual number of available units could be even higher than we think. At least, that’s the argument made by Gary Malin, the COO of one of NYC’s largest real estate firms, Corcoran Group on a recent episode of Talking Manhattan. Manhattan rental prices are currently at the lowest they’ve been in almost a decade—with prices dropping a whopping ten percent just between June and July. Generally, over the last few years, the Manhattan vacancy rate has been about one percent but it reached as high as six percent in October.”
“We know what you’re thinking, ‘But isn’t that a little over one in 20 available units in the borough?’ Don’t worry, our math isn’t (that) bad. The 20 percent figure that Malin estimates comes from a phenomenon called ‘shadow inventory.’ This is both a very good name for an evil big box store as well as what it’s called when landlords don’t list all their available units.”
“Back in April, the New York Post estimated the ‘shadow inventory’ in the city could contain as many as 38,200 units. That number is surely higher now given the overall real estate trends of the last nine months. One thing that may keep prices high? The city’s shadow inventory isn’t expected to hit the market all at once. In the meantime, it’s another bit of additional info useful to use if you’re planning on signing a new lease and want to talk your rent down a bit. And if you haven’t negotiated your rent down yet, now is the time!”
From King 5 on Washington. “The novel coronavirus pandemic is quite literally reshaping the world we live in and our place in it, especially when it comes to the real estate market around Puget Sound Region. As the pandemic plays on, people are moving out of Seattle and into some unexpected places. The only downside to the market right now, according to Windermere Real Estate Chief Economist Matthew Gardner, is urban condos. ‘The attractiveness of those is the lifestyle,’ said Gardner. ‘You can walk to work. So much for that, anymore. You can walk to the theater. You can walk to the museums. Not so much today.'”
The Globe and Mail in Canada. “Living the downtown condo lifestyle stopped being cool in mid-March, 2020. And so, downtown condo prices in expensive cities such as Toronto are soft. The number of condos listed for sale has jumped not only in Toronto, but also Montreal and Vancouver. Disruption caused by the pandemic has reduced demand for rental units, sending rents lower and persuading some condo landlords to sell. ‘Tight downtown condo markets that previously commanded expensive rents are now thick with supply,’ a recent RBC Economics report says.”
“Bigger condos haven’t dipped much in price, but the market is less hectic than it was nine months ago. ‘Buyers aren’t paying astronomical prices and they’re not competing with 10 other people,’ said John Pasalis, president of Realosophy Realty. One example of finding value in larger condos today: Mr. Pasalis said a client of his firm recently bought a two-bedroom Toronto condo for the same price as the owner paid in 2018.”
“One more piece of advice is to find an experienced agent who is willing to offer sellers less than they’re asking. ‘When you’re looking for value, you’re basically paying a fair bit less than what the seller is asking,’ he said. ‘My experience in Toronto is that a lot of agents have only known an up market and many of them are reluctant to offer less.'”
The Eurasian Review on the UK. “Is this how the world as we know it ends, then — not with a bang, or even a whimper, but with the slow, silent death of shops, pubs, restaurants and live culture? As the global tourist industry collapsed overnight, it became apparent that we had all become overly reliant on it — even major cities like London were, in fact, economically lost without millions of tourists over-consuming on a daily basis.”
“In relation to residential rents, companies and individual landlords are also suffering, Shaftesbury explained that, in September, it was ‘struggling to re-let flats, with a fifth of its 622 residential properties lying empty, after many of their previous occupants, such as international students and young professionals, returned to their home countries at the start of the pandemic.'”
The Herald Sun on Australia. “Apartments have emptied out in popular inner-city hot spots that were previously deemed bulletproof, causing Melbourne’s rent prices to plunge. Richmond, South Yarra, Prahran and St Kilda have all had hundreds of renters vacate during the coronavirus crisis, with landlords unable to fill their properties again without dramatically reducing rents. Almost 16,000 properties in Greater Melbourne emptied out in the six months to October, with the number of vacant dwellings rising from 11,091 in March to 27,070.”
“The latest SQM Research report also shows Docklands and Southbank vacancy rates continue to skyrocket to new heights of 18 per cent, when they started at below 5 per cent in March. But vacant listings are also on the rise in popular inner-city haunts. Propertyology director Simon Pressley said renters would find some ‘basement bargains’ in the languishing CBD and the flow-on effect was being felt in neighbouring pockets.”
“‘It was interesting to see Richmond’s empty apartment numbers soar from just 127 in March to 553 in October,’ Mr Pressley said. ‘I suspect what we’re going to see for some months is vacancy rate increases in different parts of Melbourne.'”
“Collings Real Estate head of property management Caleb Pikoulas said apartments in Richmond and Collingwood were taking more than a month to lease, even after their weekly rate had been reduced by more than $100. ‘It took about five weeks to lease a one-bedroom unit in St Kilda, which is usually the sort of product that would fly out the door,’ Mr Pikoulas said. Student accommodation and sharehouses had taken the biggest hit during the pandemic, he added. ‘There are so many apartments on the market, so there’s so much for renters to choose from,’ Mr Pikoulas said.”
This Post Has 78 Comments
Comments are closed.
More on these later:
https://www.americanthinker.com/blog/2020/11/the_smartest_man_in_the_room_has_joined_sidney_powells_team.html
https://votepatternanalysis.substack.com/p/voting-anomalies-2020
https://www.revolver.news/2020/11/definitive-case-proves-donald-trump-won-election/
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://votepatternanalysis.substack.com/p/voting-anomalies-2020
https://www.revolver.news/2020/11/definitive-case-proves-donald-trump-won-election/
https://everylegalvote.com/country
https://hereistheevidence.com/
https://censoredbyjack.com/channel/evidence-of-widespread-election-fraud
https://www.deepcapture.com/2020/11/election-2020-was-rigged-the-evidence/
From the last link:
”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/
“Dominion-izing the Vote”
https://www.bitchute.com/video/qlEUbPLvW98w/
So when senator running dear and 4 other senators/lawmakers said Dominion was a election fraud disaster, was that bizarre?
“Dominion-izing the Vote”
This video is about 30 minutes and has two long commercials (kinda) that you can skip. But it starts to drill down into substance. They have a computer guy who knows his stuff: says the ability to manipulate votes was a “feature, not a bug.” They also explore the Dominion “security” expert who was a rabid antifa nut, boasted of “making sure” the President wasn’t going to be re-elected, and had several unhinge TDS social media posts that were saved.
‘A Republican poll observer from Pennsylvania’s Delaware County, told a Senate GOP Policy Committee hearing in Gettysburg on Wednesday, that he witnessed a range of Election Day irregularities, including 47 USB cards that went missing.’
‘Greg Stenstrom, who, besides being a poll watcher, said he is an expert in security fraud, told the hearing that he witnessed a number of chain-of-custody violations, including around mail-in ballots, the balance of votes from drop boxes, and the handling of USB card flash drives—all of which he said broke rules defined by the Delaware County Board of Elections and the election process review.’
“They didn’t follow one,” Stenstrom said. “It shocked me that this could happen,” he added.’
‘He described witnessing a situation in which data on USB cards was uploaded to voting machines by a warehouse superviser without being observed by a poll watcher, which he said he saw happening at least 24 times.’
“He’s walking in with baggies, which we have pictures of and that were submitted in our affidavits,” Stenstrom said, adding that Democrat poll watchers also witnessed this occurrence.’
‘Stenstrom said he was told by an attorney that it’s normal for several USB cards to be left in machines and then brought back by the warehouse manager for input into tally systems. He added that when he later raised the issue with U.S. Attorney General William McSwain and some law enforcement officers, he was told it is unusual for more than two drives to be left in voting machines.
He said he was later told that “these 24 to 30 cards that were uploaded” were unaccounted for, adding that “as of today, 47 USB v-cards are missing.”
“People ask me all the time, how do people commit crimes? I know there’s a lot of theories here. And I always look for the simplest thing. People that stuff…stick USB sticks in, putting ballots in—a very simple thing. Only takes a couple of people, doesn’t take a big conspiracy,” he said.
“As a forensic computer scientist, my interest is in the data—where did it go? Where did the spoilage go? How did the data come in and go out of the system?” he said, and called for an audit.’
‘Stenstrom also said that it recently emerged that “virtually all chain of custody logs, records, yellow sheets, everything was gone” in Delaware County.’
“They had a signing party where they sat down, and coworkers were invited back to recreate those logs,” he said. “And our understanding as of today was that they were unsuccessful in getting them all.”
‘He said the situation is that there are up to 120,000 ballots that remain “in question.”
“There’s no cure for this, no remedy for this,” he said, adding, “I don’t believe, as a citizen and an observer to this, that anybody could certify that vote in good conscience.”
‘At the same hearing, President Donald Trump’s attorney Rudy Giuliani said that the type of election irregularities witnesses described in Pennsylvania also occurred in other battleground states.’
“What we’re going to describe to you, with these witnesses, happened in roughly the same way in Michigan, Wisconsin, Nevada, and Georgia—the primary device was mail-in ballots,” Giuliani said, characterizing the election in Pennsylvania as a “sham.”
“We don’t want to disenfranchise anyone. We want to disqualify 672,000 votes so 72 million people are not disenfranchised, because that’s what happened by the cheating that went on here,” Giuliani said.’
https://www.theepochtimes.com/poll-watcher-describes-pennsylvania-election-irregularities-including-47-missing-usb-cards_3594549.html
Here’s the testimony on video:
“Baggies of USBs” – PA Witness Gives Explosive Testimony
https://www.bitchute.com/video/AdaglXlcuqYt/
Dem Ballot Inspector Says She Was Threatened with Violence for Speaking Up About Suspicious Activity
“The majority inspector threatened to slap me in the face,” said Olivia Jane Winters, a registered Democrat and minority ballot inspector in Pennsylvania, testifying to Pennsylvania State Republicans Wednesday that she had been threatened and harassed by other election officials after she asked about suspicious activities during the 2020 election.’
https://www.bitchute.com/video/_KrpyDlHTe8/
Crowd Gasps after Finding out about Absurd Spike of Votes in Favor of Biden
https://www.bitchute.com/video/jmNUAx8wQYdO/
There was some laughing too. Sure, a spike with 570,000 D’pedo votes and 3,200 for the President, within 90 minutes.
Sen. Doug Mastriano closing remarks PA state legislature meeting.
https://www.youtube.com/watch?v=PIqujobvDFI
https://votepatternanalysis.substack.com/p/voting-anomalies-2020
‘The oddness of the update described above pales in comparison to that of the update in the top right corner, however. That update, at (135,290, 3.164), represents the vote update described at the top of this report, and is responsible for the extremely noticeable spike which nearly eliminated Trump’s lead in one shot. It arrived at 6:31am ET on November 4th, and went 141,258 for Biden to 5,968 for Trump — representing both the largest vote margin for Biden of any of the 502 updates we have here, at 135,290, while also representing, by a factor of more than 2, the largest Biden:Trump ratio, at a whopping 23.67:1 (the log of which is 3.16). As we will see when comparing with other states, by our metric this is the single most anomalous point in the nation.’
‘This update is also particularly interesting for another reason: there are 2,546 non-two-party votes, while Donald Trump only has 5,968. As we see, when we weight by the number of votes in any given update, this update is particularly anomalous. The next closest vote-weighted Other:Trump ratio is less than two-thirds of this one, and the median — 137.56 — is smaller by a factor of about 464.5. For such a large batch of votes to be counted while also showing such an exceptionally poor performance of Trump relative to the non-two-party vote is clearly very surprising.’
‘In particular, it calls into serious question the veracity of this vote update, and is perhaps some of the strongest direct evidence of fraud in this entire report. Someone looking to fraudulently improve Joe Biden’s margins relative to Donald Trump is likely to be focused on covering their tracks by keeping Joe Biden’s share of the update at a reasonable value. 95% might seem plausible, but 99.9% at this scale becomes prima facie implausible to any honest observer. One effective way of achieving the desired goal of decreasing Donald Trump’s lead at this point would have been to suppress the Trump vote while artificially inflating the non-two-party vote in an attempt to disguise just how Biden-favoring this update actually was. Indeed, this is precisely the reason this report uses ratios — because they are a metric virtually never used for any practical purpose in discussing election results, someone committing fraud is far less likely to consider how unusual a ratio might look. In particular, because the non-two-party candidates received far less media attention than in the 2016 Presidential election, and the Green Party candidate was even successfully sued off of the ballot in one or more states, it is hard to believe that this vote update only favored Trump over the non-two-party vote by less than a factor of 2.5, when the statewide ratio was over 31[8].’
‘Absent a compelling explanation of why this particular update — at such a crucial time, in a crucial state, which improved Biden’s standing in the state so dramatically — also had non-two-party votes performing so unusually relative to Trump votes, it seems unlikely that this vote update reflects an honest accounting of the legitimate votes.’
‘Subsequent sections of this report quantify how extreme it is in other respects and consider the implications if it had been slightly less extreme.’
‘Here is the analogous graph for Wisconsin…there is one point which especially stands out, i.e. the one in the top right, at (118,215, 1.74). This was the vote update which arrived at 3:42am CST on November 4th, and went 143,379 for Biden to 25,163 for Trump[9], giving a margin of 118,215 and a Biden:Trump ratio of about 5.7:1 — about 3 times larger than the update with the next largest margin (which was 39,499). At the same time, only one update — one with a mere 6,435 votes (i.e. about a factor of 18 fewer than the update in question) which went 3,037 for Biden to 495 for Trump — has a larger ratio, at around 6.14:1.’
‘Directing our attention to the points on the far right end of the distribution, i.e. those which have the most extreme Biden-Trump margin with respect to their state, we immediately see one point from Michigan, which is quite far above where the shape of the plot would otherwise predict it being. This, the point at (15.494, 4.989), is the vote update which arrived at 6:31am EST on November 4th, went 141,257 to Biden and 5,968 to Trump. Recall: this update had both the largest margin (135,290) of any of the 574 updates[12] in Michigan, by about 85,000 votes and a factor of about 2.7 over that of the update with the next-largest update, (5.679, 3.912) — which, critically (and surprisingly, vis a vis what this distribution shows), was both the second largest in terms of Biden-Trump margin and Biden:Trump ratio[13]. It also had the largest Biden:Trump ratio (roughly 23.69:1), by more than a factor of 2 over that of the update with the next-largest Biden:Trump ratio. The visual discrepancy between that update and the overwhelming pattern followed by the other updates is glaring, and we will shortly quantify just how extreme it is.’
‘This analysis does not require that we regard the final vote totals in any of these states (or counties thereof) as suspicious, nor, critically, does it require that we accept that the observed data should follow any particular distribution a priori. We merely show that the data, adjusted appropriately to remove differences in size and political leaning between states, does follow a certain pattern, and that four key vote updates deviate profoundly from that pattern.’
‘It is our belief that the extraordinarily anomalous nature of the studied vote updates here, combined with the staggering political implications, demands immediate and thorough investigation.’
There’s a lot more, read it for yourself.
I’m still interested in those mail-in ballots where the voter had filled out a change-of-address form. That is a physical paper trail that even the most adamant communist can’t deny. Is that part of any of the lawsuits?
change-of-address
See Twitter thread from link below.
https://twitter.com/MattBraynard/status/1329700178891333634:
Update:
-Residency Analysis of ABS/EV Voters
These are the two indicators of someone no longer eligible to vote due to residency:
NCOA = Voters who filed change of address to another state.
SVR = Subsequent Voter Registration in another state
Merged = NCOA+SVR Deduped
Thanks, Redhead. A lot of people are replying that the data is meaningless and that Braynard is a “former” staffer, so I don’t know how legit his research is or whether it will get traction.
My main concern is the timing. Giuliani only has two weeks.
whether it will get traction
He’s presenting to AZ officials tomorrow.
https://twitter.com/MattBraynard/status/1333042159981912067:
Update:
– The @FBI has proactively and directly requested from me the VIP findings that indicates illegal ballots.
– By Tuesday, we will have delivered to the agency all of our data, including names, addresses, phone numbers, etc.
https://twitter.com/MattBraynard/status/1333066159189581826:
Note: everything I pass on to local/state/fed law enforcement, litigants, legislatures, journalists, etc, is always a copy.
And despite sharing it with individuals from all of those groups, there’s never guarantee of a productive result.
Oh dear. What if a legacy honest judge throws a monkey wrench into Democrat efforts to steal the election?
https://www.thegatewaypundit.com/2020/11/breaking-huge-judge-mccullough-rules-2020-pa-election-likely-unconstitutional-gives-state-legislators-power-choose-electors/
Pennsylvania Senator: ‘Mounting Evidence’ Shows Election Was Compromised
https://www.theepochtimes.com/pennsylvania-senator-mounting-evidence-shows-election-was-compromised_3596736.html
Sidney Powell’s Allegations in Georgia Serious Enough to Alter the Election Results: Expert
https://www.theepochtimes.com/sidney-powells-allegations-in-georgia-so-serious-any-class-may-alter-the-election-results-expert_3596412.html
New Lawsuit Asks Wisconsin Supreme Court to Declare All Drop-Box Ballots Illegal and Block Certification
https://www.theepochtimes.com/new-lawsuit-asks-wisconsin-supreme-court-to-declare-all-drop-box-ballots-illegal-and-block-certification_3596676.html
President’s Lawyers Working to Convince Arizona’s Legislature to Appoint Trump Electors
https://www.theepochtimes.com/presidents-lawyers-working-to-convince-arizonas-legislature-to-appoint-trump-electors_3596690.html
American Thinker: The ‘smartest man in the room’ has joined Sidney Powell’s team
It’s a bombshell, thanks I’ve added it to the links above.
I’ve been trying to follow all this closely but it’s fast moving. IIRC this is the first time Powell has pointed to hammer/scorecard.
Twitter post:
Let me repeat. Fulton County elections officials told the media and our observers that they were shutting down the tabulation center at State Farm Arena at 10:30 p.m. on election night only to continue counting ballots in secret until 1:00 a.m.
Gee, now why would somebody do that? TO STEAL THE ELECTION THROUGH FRAUDULENT MEANS.
Scott Adams of Dilbert fame made the point that the dems would normally claim the repubs cheated too. The left always accuses others of what they’re doing but in this case they’re silent because if they agreed that there was widespread fraud that makes it more likely that Trump gets reelected by the house.
the dems would normally claim the repubs cheated too
Or have the globalists, whether D or RINO, cheated for decades?
Of course they’ve been messing with elections all over the world since probably post WW2 when the OSS morphed into the CIA.
Interview with Generals Flynn and Mcinerny. Tldr is that US special forces seized servers used to manipulate the election from a CIA outpost in Frankfurt. Wild if true, but maybe easier to hide such activities on foreign computers and networks?
https://m.youtube.com/watch?v=Kb4vywcwnOU
‘Wild if true’
What’s truly wild is all the impossible vote statistics these criminals are trying to push off on us. Like D’pedo could get a million votes in PA after we all went to bed, when he couldn’t fill a phone booth the day before.
What’s truly wild is all the impossible vote statistics these criminals are trying to push off on us. Like D’pedo could get a million votes in PA after we all went to bed, when he couldn’t fill a phone booth the day before.
Exactly.
If you reversed this whole situation and Biden was up massively, only to see Trump come from behind in all states he needed in some miraculous fashion, people would probably be under arrest for fraud right now. That’s how unfair and one-sided this entire situation has become.
Realtors are liars.
‘It seeks to foreclose on a mechanic’s lien recorded by CMC in August for $5.6 million for labor, supervision, materials and equipment provided by the company for the project’
The F word, in San Francisco? Sacré bleu!
Come to think of it, there was another one somewhere nearby last week
“It seeks to foreclose on a mechanic’s lien…”
Back in my window cleaning days, I had to file mechanic’s lien a couple of times against the property owners after their real estate management companies hired me knowing they were being replaced by another management firm. I often wondered how many small business owners get stiffed rather than file a claim? It’s easy to do, and the property owner has to pay the lawyer’s fee too. They always settled quickly in my case being that it was mostly labor.
Years ago an employer’s medical insurance company stalled & stalled paying a hospital bill I had run up, knowing they were being replaced by another medical insurance company. When they left the scene the benefits they should have paid on my behalf were still hanging in the air. The new company had zero obligation to pay them. My employer wound up paying the bill for me.
Cleaning Windows:
https://youtu.be/QrRSL7YCwjw
The 20 percent figure that Malin estimates comes from a phenomenon called ‘shadow inventory.’
Wha? But for years the REIC shills have been telling us shadow inventory is a “conspiracy theory.” Makes me wonder what other conspiracy theories might be conspiracy facts.
The only downside to the market right now, according to Windermere Real Estate Chief Economist Matthew Gardner, is urban condos.
I can think of a lot more downsides, Matt.
‘We know what you’re thinking, ‘But isn’t that a little over one in 20 available units in the borough?’ Don’t worry, our math isn’t (that) bad. The 20 percent figure that Malin estimates comes from a phenomenon called ‘shadow inventory.’ This is both a very good name for an evil big box store as well as what it’s called when landlords don’t list all their available units’
There you go Larry, one in five just sitting there. Of course, this shouldn’t be a huge problem. Manhattan airboxes cost what, 10 or 20 thousand?
One example of finding value in larger condos today: Mr. Pasalis said a client of his firm recently bought a two-bedroom Toronto condo for the same price as the owner paid in 2018.”
That knife-catcher is going to feel like a genius when condo developments start going under the foreclosure auctioneer’s hammer en masse.
The 2 bedroom airboxes were red-hotcakes a couple of weeks ago, or so some said. It’s the 300 square feet condos that are under construction in the tens of thousands that are crumbling. The lending has vanished.
The lending has vanished? B…b…but isn’t that the dictionary definition of a credit event?
The MSM can’t stop lying… it was posted here almost 20 months ago on HBB and well before the CCP Virus.
https://www.theglobeandmail.com/real-estate/the-market/article-in-a-slowing-toronto-housing-market-realtors-feeling-the-pinch/
‘Apartments have emptied out in popular inner-city hot spots that were previously deemed bulletproof’
These Australian REIC guys have no shame. This bubble popped in 2017, and I documented much of it. They were oversupplied yuugely. Remember all the Chinese FB’s complete with Joshua trees, provided by me? Same with Toronto: it fell long before the CCP flu.
Inner city hot-spots not only need to be bulletproof, they need to be fireproof.
“‘It was interesting to see Richmond’s empty apartment numbers soar from just 127 in March to 553 in October,’ Mr Pressley said.
Interesting? Hell, that’s downright entertaining. More crater, por favor!
Eric Clapton Collabs With Van Morrison On Anti-Lockdown Song, Gets Called ‘White Supremacist’
by National File
November 28th 2020, 6:05 am
Legendary rock-and-roll guitarist and vocalist Eric Clapton is collaborating with Van Morrison on a song called “Stand and Deliver” that is critical of United Kingdom’s laughably stringent COVID lockdowns and their effects on live music. Predictably, liberals on Twitter are seething uncontrollably over the news.
https://www.infowars.com/posts/eric-clapton-collabs-with-van-morrison-on-anti-lockdown-song-gets-called-white-supremacist
Mark Knopfler and Van Morrison: The Last Laugh. This will be the anthem of the patient renters who sat out the housing bubble lunacy.
https://www.youtube.com/watch?v=i_565Sa0GgA
Alan Zilberman, Keith Boykin, Adam Parkhomenko and the other blue checkmarks sound like some real fun people to be around.
Oh wait, they haven’t left the house since March.
I’ve been enjoying the r/NoNewNormal sub-Reddit since I discovered it recently (expecting it to get banned soon). Also been reading r/coronavirus for several months now, it’s a good site for reading more obscure links, but the comments are unanimously pro-lockdown bedwetters.
Eric Clapton is one of the greatest living musicians.
The greatest accomplishment in life these blue checkmarks and Reddit bedwetters have ever done was logging into a zoom call and ordering Uber Eats delivery.
“…r/NoNewNormal…”
Hmm…I’ll browse that sub later. Thanks!
“…r/coronavirus…”
Been following that sub for awhile too.
Richmond, South Yarra, Prahran and St Kilda have all had hundreds of renters vacate during the coronavirus crisis, with landlords unable to fill their properties again without dramatically reducing rents.
Dramatically reducing rents while mortgages and carrying costs remain the same, and property taxes continue to rise as cash-strapped municipalities kill the golden goose? Oh dear…my back of the envelope calculations suggest this might be nonviable as a long-term investment strategy.
Thank God there are enough U.S. citizens who recognized the enemies of the United States of America and went out to vote November 3, 2020 giving Donald J Trump a landslide victory in the presidential election.
Washington State
Not wanting to be overwhelmed with eviction cases, Washington courts are trying a new method to help resolve issues of non-payment between tenants and landlords.
SEATTLE — A new eviction resolution program aims to explore all avenues before that final legal action that can impact people far beyond this pandemic.
Gov. Jay Inslee’s statewide eviction moratorium expires at the end of the year. Worried about a wave of evictions in the new year, Washington courts are launching an “eviction resolution program” to help.
The program serves as mediation between a tenant facing eviction and landlords. It is specific only to non-payment issues because of the pandemic.
According to latest U.S. Census Bureau data, an estimated 172,000 Washington households are behind on rent, and another 28,000 say they would likely be evicted in the next two months.
Here’s how it works: Tenants and landlords meet with resolution specialists, who can mediate efforts to create repayment plans, resolve disputes and connect with rental assistance programs.
Landlords are required to participate before they can file rent-related evictions. If a renter chooses not to participate in the program, landlords can proceed with rent-related evictions.
Right now six counties are participating: King, Pierce, Snohomish, Spokane, Thurston and Clark.
How come the courts are all of a sudden interfering with the free market?
You won’t be seeing this on the CBS Evening News.
LANDMARK LEGAL RULING FINDS THAT COVID TESTS ARE NOT FIT FOR PURPOSE. SO WHAT DO THE MSM DO? THEY IGNORE IT
Posted by ScotFree | Nov 27, 2020
By Peter Andrews, Irish science journalist and writer based in London. He has a background in life sciences, and graduated from the University of Glasgow with a degree in genetics.
Four German holidaymakers who were illegally quarantined in Portugal after one was judged to be positive for Covid-19 have won their case, in a verdict that condemns the widely-used PCR test as being up to 97-percent unreliable.
Earlier this month, Portuguese judges upheld a decision from a lower court that found the forced quarantine of four holidaymakers to be unlawful. The case centred on the reliability (or lack thereof) of Covid-19 PCR tests.
The verdict, delivered on November 11, followed an appeal against a writ of habeas corpus filed by four Germans against the Azores Regional Health Authority. This body had been appealing a ruling from a lower court which had found in favour of the tourists, who claimed that they were illegally confined to a hotel without their consent. The tourists were ordered to stay in the hotel over the summer after one of them tested positive for coronavirus in a PCR test – the other three were labelled close contacts and therefore made to quarantine as well.
UNRELIABLE, WITH A STRONG CHANCE OF FALSE POSITIVES
https://www.thescotfree.com/opinion/landmark-legal-ruling-finds-that-covid-tests-are-not-fit-for-purpose-so-what-do-the-msm-do-they-ignore-it/
The AI algorithms used by creepy Orwellian globalist tech companies to block “hate speech” – an ever-expanding category – are costing legitimate businesses a lot of money.
https://finance.yahoo.com/news/facebook-ai-mistakenly-bans-ads-110000988.html
Can Clown World clown any harder?
Every day it only gets worse.
My Republican family members still post on Fakebook. I don’t get it.
I cut that cord a looooong time ago.
Oh, you bet it can.
Thursday was the most broadcast TeeVee I have been in the same room with since Thanksgiving 2019.
The woke, it’s so cringe…
“Thursday was the most broadcast TeeVee I have been in the same room with since Thanksgiving 2019.”
Then you are not aware of the fact that most couples in this country are now same sex or mixed race and the one’s that aren’t have the husband (Dad) stay home with the kids while the wife (Mom) goes to work are you?
At least that’s what the advertisers would have you believe anyway.
On the rare occasions when I use the antenna I definitely see the barrage of commercials you mention. The ads for luxury vehicles often had a mixed race couple and their adorable mulatto kids in the back seat. Curiously, Hispanics were AWOL.
“Then you are not aware of the fact that most couples in this country are now same sex or mixed race and the one’s that aren’t have the husband (Dad) stay home with the kids while the wife (Mom) goes to work are you?”
LMAO…excellent synopsis!
Freshly TV Commercial
19 Mar 2020
https://www.ispot.tv/ad/Z4cX/freshly-epiphany-40-off
Check out Barbie™ Dreamtopia Merman Doll.
Check out Barbie™ Dreamtopia Merman Doll.
That is creepy af.
Seriously off-topic, but this story has been in the media several days and I find it annoying. It’s littering. They should find the person(s) who did it and fine them $10,000 each. Placing large objects in areas where I like to hike and get away from it all because you think it’s cool or art or whatever isn’t something I want to have to deal with.
https://news.yahoo.com/did-john-mccracken-monolith-utah-151326492.html
They probably got a lot of “likes” on social media for it.
I’m happy I visited Joshua Tree back in 2016 before all the California meth trash defaced the rocks and cut down a bunch of Joshua Trees. Some people just have no class.
I’m happy I visited Joshua Tree back in 2016 before all the California meth trash defaced the rocks and cut down a bunch of Joshua Trees. Some people just have no class.
You bring up an important point that I think is often overlooked. Contrary to what the fake news media portrays, CA isn’t exporting all their wealthy equity locusts to other states where they bid up the price of houses, they are largely exporting all of their poor trash who can no longer afford CA so they move to cheaper locales.
From what I can tell, most of the CA equity locusts descending on Colorado Springs are or were upper middle class, not priced-out riffraff. Most are in their 40s-60s, and a high proportion of them are cash buyers. Probably at least half are conservatives fed up with Bolshevik malgovernance. However, there has also been an influx of former CA riffraff (mostly born in places like Indiana or Ohio) oozing into Denver or places like Manitou Springs for the legal weed, and a high percentage of them are “unhoused.”
“Seriously off-topic…”
Avoid the watering hole as you might get your skull clubbed with an animal bone. 🙂
Another day, more billions in crypto scams. Yawn.
https://www.yahoo.com/finance/news/chinese-authorities-seized-massive-4-103525040.html
But…but…secure wallet!
GUVSKUL IS 1984 ON TRAINING WHEELS
https://www.bitchute.com/video/PRlZxQT1MKA8/
No Federal Department of Education in 1776
There was no Federal Department of Education in 1976
Literacy rate in Colonial America was higher than today.
20th century figures that were home schooled included…
The Wright brothers
Thomas Edison
Douglas MacArthur
George Patton
The generation that defeated the institutionalized Fascist followers of Hitler had an average of 8 years of school
A couple of generations later and our institutionalized children are in school from age 3 to 22
19 years and they are arguably more dependent and definitely more Socialist
El Cajon, CA Housing Prices Crater 13% As Southern California Inventory Soars On Rampant Mortgage Defaults And Appraisal Fraud
https://www.movoto.com/ca/92119/market-trends/
As one San Diego broker conceded, “We’ve been ripping off customers for years.”
“…El Cajon, CA…”
That’s a mighty hot place in Summer surrounded on three sides by barren parched mountains. And it costs about $0.16/kW-hr (under baseline) for your AC’s electricity around there.
SDG&E tier 4 is 29 cents per kwh
When we lived in San Luis Obispo we paid $0.14/kW-hr under baseline, and it didn’t take long for baseline to be exceeded. Our clothes dryer and water heater both used natural gas, and we still easily exceeded the electricity baseline, and our place was just 1,050-sqft. Admittedly, it was cheap construction too, no insulation in the walls, single pane windows and slab on grade (blow sand).
It’s a darn shame when the collectivist control freaks get such a lackluster response to their CCP virus snitch hotlines.
https://www.breitbart.com/politics/2020/11/28/gov-cuomos-rat-out-neighbor-thanksgiving-program-failed/
With the UK housing bubble even more insane than our own, Millennial lemmings are still rushing to their financial Waterloo by signing on Mr. Banker’s dotted line for a shack. Does the UK have an HBB equivalent?
Buying a First Home Is More Fraught Than Ever for Millennial Brits
https://www.bloomberg.com/news/articles/2020-11-27/buying-property-in-the-uk-best-tips-for-potential-first-time-home-owners?srnd=premium-middle-east&sref=ibr3A0ff
“Does the UK have an HBB equivalent?”
Frankie from Manchester used to post here, haven’t heard from him in a while…
“NY Gym Owner Rips Up $15,000 Lockdown Fine: ‘We Will Not Comply’”
https://www.dailywire.com/news/watch-ny-gym-owner-rips-up-15000-lockdown-fine-we-will-not-comply
Quomo won’t be happy until every single NY resident tells him to go suck a d_ck…. in unison.
Lockdown Lovers hate hate hate gyms.
They hate exercise, they hate fitness, they hate sunlight, they hate vitamin D. They’ll never be happy until they can drag everyone else down into their own level of mediocrity.
Go throw a brick through the window of Starbucks and you’re granted instant immunity, because science.
Go throw a brick through the window of Starbucks and you’re granted instant immunity, because science.
Does Starbucks give them a free gift card for such wokeness and peaceful protesting?
Maybe a gift card for Daz Bog?
https://dazbog.com/product/kgblend/