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Investors Have Been Scrambling To Sell And Prices Have Diminished When They Manage To Do So

It’s Friday desk clearing time for this blogger. “An Upper West Side property that was originally listed at $4.25 million sold in April for $2.2 million, a 48.2% discount. In Brooklyn, a Fort Greene home sold in June for $1.45 million, 38.3% off its listing price of $2.35 million. ‘The biggest [discounts] for both Manhattan and Brooklyn properties were mainly concentrated in the higher price points,’ according to John Walkup, COO of UrbanDigs. ‘Also of interest was the difference between Manhattan and Brooklyn: The median of the largest 20 discounts in Manhattan was 35%, compared to 22% in Brooklyn.'”

“According to a complaint filed in Miami-Dade circuit court, Francisco Mendez, owner of the Miami-based Pioneer Inter-Development real estate developer, overpaid the contractors working on several homes, then demanded they return the extra money to him as a kickback. ‘There is more of this kind of fraud than people would like to believe,’ said John Criste, an attorney representing the plaintiffs. The filing calls the defendants a ‘band of thieves’ that helped Mendez carry out his moneymaking plan by providing doctored or inflated invoices.”

“A Dallas real estate developer is facing federal bribery charges for his involvement with members of the Dallas City Council. Sherman Roberts is charged with conspiracy to commit bribery and bribery involving a local government. ‘Right now, you and me are making money’ from the real estate dealings, Roberts allegedly told Council Member A, who was then serving as a leader of Dallas’ Housing Committee, in spring 2015.”

“The Aspen Club & Spa is going to foreclosure sale Jan. 6, and the new owner will be responsible for paying approximately $80 million in debt attached to the property. The other case was a lawsuit filed in November 2017 and led by Denver-based PCL Construction — the general contractor for the project — and dozens of subcontractors for unpaid bills.The construction firms are owed more than $25 million combined. Fifteen of the site’s townhomes are between 60% and 80% complete, six condominiums are 30% complete, and the commercial component is 30% complete, according to filings in the bankruptcy case.”

“About 35% to 40% of people are in forbearance in the Southern California area, according to Santa Clarita Realtor and foreclosure prevention advocate Richard Szerman. ‘If you want to apply for a loan modification then we have to take you out of the forbearance,’ Szerman said. The downside of this is that if the person does not receive the loan modification then they cannot go back to forbearance because it is one per customer. ‘If I am drowning and I have this life preserver and I think there’s a boat over there: do I swim for it?’ Szerman said.”

“Michael Jackson’s onetime Neverland ranch has sold for $22 million. Amid financial struggles, Mr. Jackson had defaulted on a loan backed by the ranch and Colony bought the note in 2008. The property, located about 40 miles from Santa Barbara, had been on and off the market for years, first listing for $100 million in 2015 and undergoing several price cuts. It was listed for $31 million last year. Mr. Jackson originally paid about $19.5 million for the ranch in 1987.”

“The state of the rental market in Toronto and the rest of the GTA, the region has seen a solid year of steadily declining rent prices. With a glut of condos flooding the market in recent months, investors have been scrambling to sell them off and sales prices have diminished when they manage to do so.”

“A perfect storm is closing in on the prices of housing for rent in Barcelona . And about the rest of Spain. Another factor explains the collapse in prices. The offer has increased as a result of restrictions on economic activity, especially tourism. This has led to the departure of tourist flats to the conventional rental housing market, which means increasing the total housing stock by 20%. On the other hand, demand is still weak, since many student or shared flats are not being occupied, which also pushes down the price.”

“‘2020 has been a very difficult year globally and more difficult for the property market. Going forward, I don’t think 2021 is going to be better. We still have a glut and the market is going to be very challenging,’ said Hussain Sajwani, chairman of Damac Properties, Dubai’s largest private property developer. ‘I hope big developers don’t start dumping more supply just because they can sell 200 villas or apartments more.'”

“The owner of the former, Multilinks headquarter building on Adeola Odeku Street, Victoria Island, Suleiman Lawani has asked a new generation bank (name withheld), to vacate his property over nonpayment of three-year rents totalling N21 million and a breach of trust. Lamenting his frustration during a press conference, Lawani explained: ‘ I made it known to the Receiver/Manager that I have made a loss of N5million. In 2018, the new bank refused rental payments. When I requested for payments they told their Receiver/Manager that there is no money and when they have, they will effect payments. Then, I requested for return of the space, they refused. This is the third year running of their absurdity.’”

“After 5 years since completion, thousands of resettlement apartments in Thu Thiem area in District 2 of Ho Chi Minh Cit are still mostly vacant. In 2020, the city has to allocate a large sum of money for the maintenance and operation of these apartment buildings, which is obviously a waste of budget and human resources. The management unit reveal that there has been a loss of over VND100 million (approx. US$4,300) in the first 6 months this year on overhead cost. Around these buildings, weeds are happily grown.”

“A 715-sq-ft flat at the blue-chip housing estate was rented for HK$25,000 per month, or HK$35 per sq ft, after HK$6,000 was cut from the original asking rent. And a 499-sq-ft flat at Grand Promenade in Sai Wan Ho changed hands for HK$11.23 million, or HK$22,505 per sq ft, after HK$570,000 was cut from the initial asking price. In Pak Shek Kok, a homebuyer forfeited a deposit of HK$596,100 after cancelling the purchase of a 403-sq-ft flat at Centra Horizon, which was offered at HK$5.96 million, or HK$14,792 per sq ft.”

“Louise Elliot and her husband have three houses — one of which is listed on short-stay accommodation site Airbnb. She’s disappointed the Hobart City Council has voted to look into whether and how it can stop more Airbnbs popping up in the city. ‘I’m also not going to sugar-coat it. This is one of those properties where it used to be tenanted and it could be again — but this is a property that we own, so we should be able to make the decisions on how it’s used,’ she said. ‘This is my job. This is my income.'”

“She believes putting a cap on Airbnbs would leave many people who’ve bought properties for the purposes of turning them into short-stay accommodation in a serious financial predicament. ‘I suspect the vast majority would find themselves in big financial trouble if they’ve bought a property specifically to Airbnb,’ she said. ‘To have something that’s available and people have purchased with that in mind to then remove it would be crippling.'”

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This Post Has 90 Comments

    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

      https://everylegalvote.com/country

      https://hereistheevidence.com/

      “Dominion-izing the Vote”

      https://www.bitchute.com/video/qlEUbPLvW98w/

      Eric Coomer Explains How To Alter Votes In The Dominion Voting System

      https://www.youtube.com/watch?v=UtB3tLaXLJE

      Eric Coomer, Dominion’s head of product and strategy, has disappeared.

      ‘Representatives from Dominion also did not attend a court hearing in Pennsylvania on November 19. Its US headquarters in Denver was also suddenly closed and moved away. Their employees deleted their names from LinkedIn.’

      https://www.youtube.com/watch?v=0oYQeeNCzZM

      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/

      Sen. Doug Mastriano closing remarks PA state legislature meeting.

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

      https://censoredbyjack.com/channel/evidence-of-widespread-election-fraud

      https://www.deepcapture.com/2020/11/election-2020-was-rigged-the-evidence/

      ”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

      Col Phil Waldron Confirms Experts Witnessed Dominion Communicating with Frankfurt on Election Day

      https://www.bitchute.com/video/n7j5lg9fYyzz/

      Dominion forensic report from Michigan (PDF):

      https://www.depernolaw.com/uploads/2/7/0/2/27029178/antrim_michigan_forensics_report_%5B121320%5D_v2_%5Bredacted%5D.pdf

      1. ‘KRAKEN is DOD cyber warfare program.’

        ‘They cheated & got caught!’

        Sidney Powell
        🇺🇸
        ‘Who knew?’

        https://twitter.com/SidneyPowell1/status/1331435411286192128?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1331435411286192128%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fheadlines360.news%2F2020%2F11%2F24%2Fsidney-powells-kraken-is-department-of-defense-cyber-warfare-program%2F

        I did some digging around and found this (WARNING) PDF:

        https://www.dacis.com/budget/budget_pdf/FY20/RDTE/F/1203110F_294.pdf

        It’s dated Feb. 2019. If you word search Kraken (‘respond’ category), you’ll find it twice on page 4. This unit 305 person is in the affidavits in Powells lawsuit.

        WARNING PDF with filing:

        https://www.courtlistener.com/recap/gov.uscourts.mied.350905/gov.uscourts.mied.350905.1.15.pdf

        Zuckerberg on page 15. Obammie on page 8.

        ‘Response: Yes, our “White Hat” hackers – they have that traffic and the packets.”

        https://twitter.com/themodalice/status/1333505965857984512

        ‘Ruby Freeman Makes Video of herself Showing MOUNTAINS of GA ABSENTEE BALLOTS With NO RETURN ADDRESS’

        https://www.youtube.com/watch?v=HFYaxvxdfXY&feature=youtu.be

        Example

        Note the vote spike at the Atlanta treason:

        https://twitter.com/EricTrump/status/1334812236322381826/

        Corrupt Georgia Election Worker Seen Loading Same Ballots 3 Times into Machine

        Poll Worker Ruby Freeman Loads Up The Same Stack Of Ballots To Be Counted 3X

        https://www.youtube.com/watch?v=RiREC3Zy20E

        Ruby Freeman – “I need an attorney”

        “This is bigger than me. I need an attorney.” at 4:55.

        https://www.youtube.com/watch?v=xsU-CXcJ4Lg

  2. ‘sold for $22 million…originally paid about $19.5 million for the ranch in 1987’

    I’d bet the taxes alone would have been more than that since 1987. Golly, that California land is a gold mine I tells ya!

    ‘The Los Olivos property spans about 2,700 acres and includes about 22 structures’

    So what does that work out to per acre? Might be worth running some goats on.

      1. Michael Jackson had enough money to establish a foundation to support kids, but instead he built a gaudy monument to lure his prey. That is how he will be remembered.

  3. ‘About 35% to 40% of people are in forbearance in the Southern California area’

    Oh, but UHS say this is a great time to borrow hundreds of thousands to buy a depreciating shack! Good gravy, a child could see where this is going.

    1. “About 35% to 40% of people are in forbearance in the Southern California area, according to Santa Clarita Realtor and foreclosure prevention advocate Richard Szerman. ‘If you want to apply for a loan modification then we have to take you out of the forbearance,’ Szerman said. The downside of this is that if the person does not receive the loan modification then they cannot go back to forbearance because it is one per customer. ‘If I am drowning and I have this life preserver and I think there’s a boat over there: do I swim for it?’ Szerman said.”

      – A statistic you’ll never hear in the MSM. Holy crap! “About 35% to 40% of people are in forbearance in the Southern California area, according to Santa Clarita Realtor and foreclosure prevention advocate Richard Szerman.”

      – So Cal isn’t a small region last time I checked. 35% – 40% is a huge number. There will be foreclosures. Consequences can be deferred, but not prevented.

      “Richard Szerman feels that there is a lack of leadership during the pandemic.”

      – Bingo!

      “It is at a federal level. It is that in the banking sector. It’s everywhere you look,” Szerman said. Individuals should not be making decisions that they aren’t empowered to make and do not have the educated knowledge.”

      – Trust me.

      “Oh, but UHS say this is a great time to borrow hundreds of thousands to buy a depreciating shack! Good gravy, a child could see where this is going.”

      – Another minor detail you’ll never hear from the MSM:

      “It’s always a good time to buy a rapidly depreciating asset with high carrying costs, even in a global recession and pandemic.”

      – Recall that forbearance isn’t forgiveness, and all of those deferred payments are due at the end of the forbearance period, whenever that is.

    2. ‘About 35% to 40% of people are in forbearance in the Southern California area’

      Good lord. That’s staggering.

    1. And to you. I can’t call her a kitten anymore. I think she’s gonna be a big strong cat when she finishes growing.

          1. Not so much humbug but for most of my life my family lived very close by so the holidays were never that big a deal. And when i lived in SC my parents would come down to Benson NC each year to visit a paratrooper buddy who saved each other lives, and then come visit us.

  5. ‘The construction firms are owed more than $25 million combined. Fifteen of the site’s townhomes are between 60% and 80% complete, six condominiums are 30% complete, and the commercial component is 30% complete’

    Is there still a half finished tower in downtown LA, left hanging by a broke a$$ Chinese firm? Red-hotcakes I tells ya!

  7. ‘The biggest [discounts] for both Manhattan and Brooklyn properties were mainly concentrated in the higher price points,’ according to John Walkup, COO of UrbanDigs.

    The bigger they are, the harder they fall
    And me, I’m the biggest fool of all

    –The Tractors, “Worlds Biggest Fool”

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

  8. Mr. Jackson originally paid about $19.5 million for the ranch in 1987.”

    Nearly back to 1987 prices. Now we’re talking.

    1. There might be a stigma attached to the ranch which lowers the price. At least Michael died somewhere else. Still, a crash to 1987 is pretty impressive.

      1. There might be a stigma attached to the ranch

        I was wondering if the buyer will have the old mansion bulldozed and rebuilt so that it bears no resemblance to the old one.

  9. When I requested for payments they told their Receiver/Manager that there is no money and when they have, they will effect payments. Then, I requested for return of the space, they refused. This is the third year running of their absurdity.’”

    If you read the contractual fine print, Mr. Lawani, a contingency clause authorizes you in such situations to stamp your little feet.

  10. ‘I suspect the vast majority would find themselves in big financial trouble if they’ve bought a property specifically to Airbnb,’ she said. ‘To have something that’s available and people have purchased with that in mind to then remove it would be crippling.’”

    Die, speculator scum.

    2. “For unto us a child is born.” That’s my personal favorite song in the Messiah. The vocal skills are insane!

  13. Merry Christmas – My family memories of Christmas’s gone by [even when I had to deliver newspapers on my route] are precious. May you be making new one filled celebration of the Birth of the Christ Child.

    1. FBI rushes to respond to scene of “intentional explosion” in Nashville.

      FBI AWOL at scenes of intentional ballot stuffing in multiple US cities.

    2. It was reported that a Haz-Mat team, along with the bomb boys, were called in before things got all bangy. I’m thinking it was a mobile meth lab that went critical. That part of the country has been plagued with meth for over a decade.

        1. Betsy Williams, the owner of the Melting Pot building across the street, told The Tennessean that guests reported the RV was stationed there since Thursday night.

          Williams, who lives in a loft apartment on the third floor, said she heard the sound of loud, rapid-fire gunshots at about 4:30 a.m.

          After multiple rounds of gunshot sounds, Williams said she called 911.

          Then, she said, she heard a repeated warning she said came from the RV parked outside her building.

          She recalled hearing the announcement warning of a bomb and to evacuate. Then, it started counting down to the explosion, she said.

          “Whoever did it did give fair warning,” Williams said.

      1. Looks like it. Took out ATT service across a large part of the country and with it emergency services, service at some airports, etc. Its possible the gunshots could have been part of the recorded warning message as well. Not sure if NSA had a footprint at that location or not.

        The ultimate “Can you hear me now?” message.

  16. Ok, suffice to say that there has been a total breakdown of the US Government and all Government agencies, or check and balances, rule of law, you name it. Even good Politicians seem to be outnumbered , and rigged elections are the final blow.
    This control of the news and censorship of disputing facts now is evident.
    How do you combat something like this? Even if millions go to Washington DC to rebel, no doubt fake news won’t TELEVISE it.
    I don’t know what the option are exactly. We are close to having a corrupt Puppet being put in as President being Biden/Harris.
    So we’re locked down and than subjected to all the crazy stuff they are going to do.
    It’s already crazy what they are doing using Medical to justify it.
    When rebellion means you might be arrested or denied access to food, it’s harder.
    It’s obvious they have targeted small business to destroy . Anything that they perceive might be a enemy to their takeover, including Trump Voters.
    Targeting Citizens of the United States depending on what group you fall in .
    There has got to be a way to stop this now that the voting option has been taken, if they get away with it.

    1. the voting option has been taken, if they get away with it.

      That remains to be seen. What Georgia does in the next two weeks will be interesting.

  21. After being attacked for 4 years, by nothing but fake attacks, Trump or his Voters have been robbed by the crime of the Century.
    I was so afraid they were going to rig the election. They were going to do whatever it took no doubt.
    So, how can’ anyone predict what’s going to happen with the markets, or real estate, whatever, how much your going to be looted or taxed.
    How can Depression be avoided if millions are going to be unemployed with nothing to replace the jobs with, because it’s been destroyed?
    If the traitors have the majority they could vote for anything that their Masters want, or what China wants or what the RESET Davos group wants, Soros and Claus Schwab, Bill Gates, Big Pharma , whoever.

    And what about the Commies , what are they going to demand. Who is going to get all the bail outs.

    I think the Commies and Globalist are using each other to further their agendas.
    Anyway, WHAT A BUMMER

    But, Merry Christmas to all.

    1. RR,
      Aren’t you afraid that if the numbers get to high with side effect, as if they aren’t to high already, that the information will than be suppressed?
      What is going to be the reaction when they give it to Seniors or any weaker immunity group?

      1. that the information will than be suppressed

        Of course it will! Where are you seeing the following information?

        Both vaccines are effective at reducing the risk of symptomatic COVID-19 for at least 14 days (Moderna) or more than two months (Pfizer-BioNTech) (emphasis added)

        All I hear is that the vaccines are 94+% effective. I’ve posted how they got those numbers. Something like 200 people tested PCR positive during the clinical trials. Given the problems with mRNA technology, the lack of animal testing and insufficient passage of time, there is no way in hell anyone in my family is getting either of these vaccines if I have anything to say about it.

        1. Don’t forget that the Pfizer vaccine is shipped under dry ice. How well-tested was that?

          Do you have a link for 200 PCR-positive tests for the mRNA vaccines? I thought Pfizer and Moderna only tested for symptoms and didn’t do PCR. And it was 200 positives, out of how many?

          3. Primary: SARS-CoV-2 RT-PCR-positive symptomatic illness,

            That’s still only symptomatic cases. They only did the PCR to confirm that the symptoms were due to COVID and not something else. And yes, there were 162 symptomatic cases, but 95% of the cases were in the placebo group.

          4. Blue, I read somewhere that the boxes have internal thermometers in them, likely to track hi/lo during the whole chain.

          5. I worked in an RNA lab for a spell in graduate school. I had pretty good hands in the lab generally but working with RNA was a nightmare. Only the most meticulous of lab rats were successful in RNA labs. The most seemingly innocuous mishandling of material can destroy the samples.

    2. Redhead, what do the percentages mean? Is that a percentage of everyone who got the vaccine, or a percentage of those who reported side effects? For example, if you gave the Moderna vaccine to 100 people, did 23 of them have nausea/vomiting?

      So Pfizer has to be stored in dry ice and Moderna makes you sick? No thanks. I’ll wait to see what Astra Zeneca or J&J do. Or at worst, I’ll take my chance with COVID. I have quercetin and zinc at home.

      1. The agency’s “V-safe active surveillance program,” which allows for patients to voluntarily, directly report adverse events outside of the normal VAERS (Vaccine Adverse Event Reporting System), reports that a total of 215,362 people had received their first dose of vaccine as of December 18.

        Of that number, 5,052 or 2.3% were reported to have an unspecified “health impact event” defined by CDC as serious enough that they were “unable to perform normal daily activities, unable to work, required care from doctor or health care professional.”

        During clinical trials, the second shot was the doozy.

      2. The moderna one is so bad that it makes you forget which arm is supposed to be sore from it.

        https://www.youtube.com/watch?v=rc0adfha668
        start at 1:30 in, 1:45 is the glitch in the matrix – shows Fauci getting a shot in his left arm but pointing to the soreness in his right. Is that what mRNA is capable of? LMAO.

    1. Diddo to you QT and the rest of the hbb crew! May the new year bring more cr8r in the RE market and exposure to the fraud and lies we are consistently exposed too!

  27. Oh dear….

    Commercial Real Estate’s Pandemic Pain Is Only Just Beginning

    https://www.bloomberg.com/graphics/2020-commercial-real-estate/?srnd=premium&sref=ibr3A0ff

    The coronavirus pandemic shuttered thousands of U.S. restaurants, gyms and stores, kept office workers at home and left hotel rooms sitting empty. Yet, so far, the commercial real estate market hasn’t really had a reckoning.

    That’s set to change.

    Lenders have granted struggling building owners months of forbearance, avoiding fire sales. But even as vaccines herald the slow return to normal life, it’s increasingly clear the fundamentals of real estate have been altered.

  29. Trump tweets out a video that sums it all up so we know what we’re fighting

    https://www.americanthinker.com/blog/2020/12/trump_tweets_out_a_video_that_sums_it_all_up_so_we_know_what_were_fighting.html

    I made up the word “sinosization,” because “sino” means “Chinese.” We are living in a “made in China” world, which means a world with rapidly decreasing prosperity and liberty. It’s a world in which our leaders, for fame and money, or in response to being blackmailed for their sins, have sold us out to a communist nation that steals our technology, takes our jobs, drugs our citizens, exports disease, and spreads oppression and despair wherever it goes. We know this – and, finally, there is a video that sums it all up.

      1. That’s called deflection. How ironic that Russian news outlets like RT and Sputnik cover stories our captured media won’t touch.

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