thehousingbubble@gmail.com
Blog

I’m Losing A Lot Of Money And All My Savings Are Gone, It’s Not Worth It And I Don’t Want To Take Any More Stress

A report from Newsweek. “A condominium in downtown San Francisco, an area that’s been rocked by several problems in the past few years, was sold last week for about half of its purchase price in 2019, as shown on Zillow. The property, a two-bedroom, two-bathroom condo on 1075 Market St, a five-minute driving distance from Union Square and a three-minute driving distance from the troubled neighborhood of Tenderloin, was listed for sale on Zillow on January 18 for $695,000. After spending months on the market, it was sold on April 8 for $675,000—about half of the price commanded by the condo in late May 2019, when it was sold for $1,250,000. This is hardly an isolated case in the Californian city. According to Redfin, nearly 20 percent of home sellers in San Francisco are taking a loss on their sale—over four times more than home sellers at the national level, at 4.3 percent.”

“Some 17.8 percent of homes sold in San Francisco during the three months ending on February 29, 2024 sold at a loss, Redfin found. In the three months ending January 31, the share was at 17.9 percent—its highest level in 11 years and a higher share than any other metro. On average, the typical homeowner sold their home for $155,500 less than they bought it for. That’s mainly because prices have gone back to normal after skyrocketing during the booming years of the pandemic, Redfin writes.”

The Los Angeles Times. “As California housing values keep rising, some cities that until recently had reputations for working-class modesty are joining the list of communities with median home values more than $1 million. Tor Black, 55, has lived in Tustin for the past five years. The real estate agent and his wife, Iris, found their ‘forever home’ in Tustin Meadows, the first planned urban neighborhood in Orange County, he said. The value of the couple’s home has shot up from $800,000 at purchase in 2022 to $1.3 million today — an increase of more than 60%. With a median household income over $100,000, the average home in Tustin is worth about 10 times what a household earns, per census data. Bonita’s ratio is similar. Nationally, homes are worth five to six times household earnings, up from a 4-1 ratio in 2019. In California, that rockets up to at least a 10-1 ratio, per Harvard University’s Joint Center for Housing Studies.”

The American Statesman in Texas. “This year’s appraisal notices are on their way to Travis County residential and commercial property owners. Overall, the median market value of homes in the county declined about 7%, Travis County Chief Appraiser Leana Mann said. The 2024 median market value for a residential property in Travis County is $551,419, down from last year’s median of $592,819, the appraisal district said. In the Austin-Round Rock metro area, stretching from Georgetown to San Marcos, sales were down 9.8% last year, with 30,438 homes changing hands. Half of those homes sold more for more than $450,000 and half sold for less, for a 10.2% drop in the median closing price.”

“Eldon Rude is an industry expert who has been tracking the Austin region’s real estate market for several decades. Rude said that the 7% overall decline in this year’s appraised market value ‘represents the continuation of the market correction that started in late 2022 and has continued through early 2024.'”

Islander News in Florida. “This week’s show-stopper sale in Key Biscayne involves a mansion selling for $18,000,000. Nestled on one of Key Biscayne’s most exclusive streets, this island estate boasts 300 plus feet of waterfront on a peninsula, with sweeping 180-degree panoramic views over Cape Florida State Park. Listed at $22,500,000 in November. $4,850,000. 1425 Brickell Ave., Apt. 56F. Miami, FL 33131. When you step into this glamorous home, you will feel the calm ambiance that living on the 56th floor can bring. The Four Seasons of Brickell boasts 3,862 square feet of sumptuous design in this three-bedroom home with four and a half bathrooms. Listed at $5,499,000 in November.”

The Journal Now in North Carolina. “Those are some of the potential — many unintended — local ripple effects from the landmark $418 million settlement by the National Association of Realtors on March 15 to help compensate home sellers. Many buyers do not have the money to pay the buyer’s agent out of pocket, particularly those preparing for their first home purchase, said Curtis Leonard, co-owner of Leonard Ryder Burr LLC and Tyler Redhead & McAlister residential real-estate agencies in the Triad. Also potentially affected are military veterans relying on a Veterans Administration loan, which doesn’t allow the veteran to pay real-estate commissions, and other government loans that allow for low down payments, such as the Federal Housing Administration.”

“Tony Plath, a retired finance professor at UNC Charlotte, said the NAR settlement is a top-of-mind topic for the banks to which he provides consulting services. ‘Home buyers will ultimately lose because they’re going to have to hire a buyer’s agent out of their personal funds, rather than relying on commission-sharing with the seller’s agent,’ Plath said. ‘This reduces the amount of money they have available to make a down payment.'”

Bisnow New York. “Vornado’s need to lease its redeveloped office buildings around Penn Station was greater than its desire to develop a casino, Chairman and CEO Steven Roth wrote this week in his annual letter to shareholders. ‘Frozen capital markets and sky-high interest rates have and will continue to shut down new builds and tenants’ normal growth will lead to a very tight New York City office market,’ he wrote. He said ‘the market now demands’ concessions to tenants at roughly $300 per SF, split down the middle between tenant improvement allowances and free rent. ‘There is no new debt available for office, so no buying, no selling, no new builds,’ he wrote. ‘How long and deep this all goes is unknowable. So, coming out of the cycle, many good but overleveraged buildings will change hands, will be de-levered, and the second or third owner will enjoy a much lower basis.'”

CBC News in Canada. “Anshul Jain says he hasn’t received a single payment from two tenants at his rental property in Thunder Bay, Ont., but is most upset about the unpredictability he faces with the Landlord and Tenant Board (LTB). Jain is a physiotherapist at a long-term care home in the northwestern Ontario city. He and his wife purchased a rental property at the end of July 2023 in hopes of earning additional income. They inherited the previous owner’s tenants and he said while there have been no issues with those in Unit A, the people living in Unit B have accumulated more than $11,000 in arrears.”

“‘I’m at my wits’ end and I’m losing a lot of money there because I still have to pay the bills, I still have to pay the mortgage and all my savings are gone,’ Jain said. In March, Jain said he offered to forgive the rent owed if his tenants moved out, but they never left. He plans to sell his rental property as soon as he can. ‘It’s not worth it,’ he said. ‘I have a young family and I don’t want to take any more stress.'”

Plymouth Live in the UK. “The company which failed to develop Plymouth city centre’s Mayflower House office block went bust leaving debts of nearly £5m – much of which won’t be paid. London-based Mayflower House Developments Ltd went into voluntary liquidation in 2021 leaving the five-storey building derelict and now the scale of the company’s collapse can be told. The firm had debts of £4.84m when it went under. Of this, £2.688m was owed to specialist lender White Hall Lending Ltd, according to documents filed at Companies House. They say the lender is likely to still be out of pocket despite the building being bought. And it said unsecured creditors, owed a total of £2.155m, won’t receive a penny.”

Radio New Zealand. “A decades-old building company has had to ‘pull the pin’ after a sharp down turn in business. Tony Boyce of Tony Boyce Builders was finishing up a few jobs this week before closing down his company for good. Things had been tough with no work coming in, Boyce told Checkpoint. ‘Telling the men I had to lay them off … that was my worst problem.’ Boyce said he had got his team down to nine but even that was not enough. He had thrown ‘mega bucks’ into the business to keep it afloat but had decided to ‘pull the pin’ now. ‘I feel gutted. I feel like I’ve failed. In a lot of ways I haven’t, but it’s really hard.'”

“Boyce said the construction industry as a whole was struggling. People were closing up their wallets, worried about a recession and dealing with high interest rates. He told Checkpoint he had spoken to a builder this morning who worked in housing and usually had two-and-a-half years work lined up. Now he only had eight months and was worried about what the future would look like. ‘It’s affecting everyone, really.'”

“‘We do know that workloads are slowing and also anecdotally we’re just starting to see those concerning reports about a few more builders going into liquidation,’ said CoreLogic’s chief property economist Kelvin Davidson. ‘The near-term indicators are that that will continue.'”

South China Morning Post. “Vice-Premier He Lifeng urged on-time delivery of properties and financing support for developers at a meeting in central China over the weekend, rallying efforts to revive a sector critical for this year’s economic growth target and financial stability. China’s property sector once contributed about a quarter of the national economic output, but it has yet to bottom-out in terms of investment and sales, while market confidence remains weak. Zhengzhou is among the Chinese cities grappling with a large number of abandoned or stalled residential projects, with homebuyers seeking either a refund of their down payment or access to their new homes.”

“Since the downturn in 2020, there has been a spate of projects, undertaken with bank loans and down payments from buyers, that have failed when developers collapsed or defaulted. Nomura estimated in November that there were 20 million units of unconstructed and delayed pre-sold homes in China in 2022, with 3.2 trillion yuan needed for their completion. A report by the Shanghai-based E-House consultancy said 3.85 per cent of all projects across China had financial woes last year, totalling 231 million square metres (2.49 billion square feet).”

Related Posts
This Post Has 79 Comments

  2. ‘Many buyers do not have the money to pay the buyer’s agent out of pocket, particularly those preparing for their first home purchase’

    That’s some sound lending Curtis.

  3. ‘He had thrown ‘mega bucks’ into the business to keep it afloat but had decided to ‘pull the pin’ now. ‘I feel gutted. I feel like I’ve failed. In a lot of ways I haven’t’

    Yes you have Tony.

    ‘Boyce said the construction industry as a whole was struggling. People were closing up their wallets, worried about a recession and dealing with high interest rates. He told Checkpoint he had spoken to a builder this morning who worked in housing and usually had two-and-a-half years work lined up. Now he only had eight months and was worried about what the future would look like. ‘It’s affecting everyone, really’

    ‘We do know that workloads are slowing and also anecdotally we’re just starting to see those concerning reports about a few more builders going into liquidation…The near-term indicators are that that will continue’

    That may be Kelvin, but it’s still a red hotcakes sellers market.

    1. **”Radio New Zealand. “A decades-old building company has had to
      ‘pull the pin’ after a sharp down turn in business. Tony Boyce of Tony Boyce Builders was finishing up a few jobs this week before closing down his company for good.” **

      “pull the pin”. that’s a new one, as related to housing.
      also have respect the fact that at least Tony finished his obligations, and didn’t just take the money & disappear.

      Good On Ya’ , Mate !!

  4. Many buyers do not have the money to pay the buyer’s agent out of pocket, particularly those preparing for their first home purchase, said Curtis Leonard, co-owner of Leonard Ryder Burr LLC and Tyler Redhead & McAlister residential real-estate agencies in the Triad.

    Then they have no business buying a shack.

  5. Denver7 — Denver advocacy group, immigrants protest city’s new immigration strategy (4/14/2024):

    “The City of Denver’s new immigration strategy is facing criticism. Housekeys Action Network Denver and several immigrants hosted a protest of the new plan on S. Zuni Street Sunday afternoon.

    Denver Mayor Mike Johnston announced his new immigration response plan last Wednesday. It establishes the Denver Asylum Seekers Program, which will provide housing, workforce training and food assistance to 1,000 immigrants for six months.

    However, the city is reducing the amount of time immigrants can stay in shelters. Previously, immigrants who arrived in Denver could stay in shelters between 14-42 days, but the new policy will only allow them to stay between 24-72 hours.

    “I think that it’s insufficient,” said Willy Bastidas, an immigrant who helped organize Sunday’s protest.

    Bastidas argued that more families will be forced to live on the street since the new program is only available to 1,000 people.

    “The mayor doesn’t represent us, he needs to listen to us and work with us to a better solution,” said Bastidas.

    Housekeys Action Network Denver(HAND) assisted with the rally. HAND spokesperson V Reeves fears that the changed immigration strategy will overload non-profits and advocacy groups trying to assist newly arrived immigrants.

    “Every new migrant that comes is going to be left to fend for themselves after 24 to 72 hours,” said Reeves. “It’s a slap in the face and an offensive period of time.”

    https://www.denver7.com/news/local-news/denver-advocacy-group-immigrants-protest-citys-new-immigration-strategy

    Don’t forget to pay your taxes today, cattle tax slaves. Willy needs more free sh*t.

    1. “The mayor doesn’t represent us, he needs to listen to us and work with us to a better solution,” said Bastidas.

      You bet your caboose he doesn’t represent you, Mr. illegal immigrant invader. And get this through your thick skull, the city of Dumver is broke as a joke. It’s time to go home, muchacho.

      2. I also note that these activists are much better at organizing protests asking for other people’s money than they are at providing any resources themselves. What happened to all that “shared sacrifice?”

    2. “The mayor doesn’t represent us, he needs to listen to us and work with us to a better solution,” said Bastidas.

      Is he supposed to ? I’m confused is Denver still in the USA or maybe like Pol Pot of Cambodia he thinks these new illegals will be better citizens than the current surly American group ? IDK ?

  6. ‘Home buyers will ultimately lose because they’re going to have to hire a buyer’s agent out of their personal funds, rather than relying on commission-sharing with the seller’s agent,’ Plath said.

    Stop lying, REIC shill. The whole concept of a “buyer’s agent” is inherently fraudulent, since both agents in the transaction have a common interest in extracting the highest possible price from the shack. Cutting parasites and their commissions out of the equation will have the beneficial effect of reducing overall costs for responsible, prudent buyers.

  7. All properties listed prior to NAR conviction/settlement should be automatically adjusted minus 3%.

      1. I have to say, it’s always been my understanding that the seller pays the buyer’s agent’s commission and that the lion’s share of the buyer’s closing costs are points on the loan.

        Is this something new, or does it vary by state?

        1. IIUC, there are no state laws dictating how commissions are handled. It was more or less a gentleman’s agreement-style tradition for the seller to pay the fees for the buyer’s agent. Then NAR started blacklisting agents who dared defy that tradition from their listing service (something like that), and that’s what they got nailed for.

          That said, the seller didn’t object to paying the buyer’s agent fee because everyone knew that the seller simply raised the price to include the buyer’s agent fee. Now, you’re going to have a tug-o-war. The seller wants the same prices as before, but the buyer will say: no, you don’t get to have a buyer’s-agent price without paying the buyer’s agent too.

          I think it will take a couple years for the industry to work that out. I think you’ll see a combination of 3%-lower offers, seller concessions, and banks offering higher LTV loans. I also think you’ll see buyer’s agents offering different tiers of realtor services and/or hourly rates.

  8. ‘There is no new debt available for office, so no buying, no selling, no new builds,’ he wrote.

    Gosh, who knew that debt-fueled “growth” was never sustainable in the long run.

  9. He plans to sell his rental property as soon as he can. ‘It’s not worth it,’ he said. ‘I have a young family and I don’t want to take any more stress.’”

    Who wouldn’t jump at a chance to provide free housing to deadbeat tenants whose freeloading is enabled and encouraged by government policies?

  10. And it said unsecured creditors, owed a total of £2.155m, won’t receive a penny.”

    Every time housing speculator scum end up holding the bag on flopped investments, an angel gets its wings.

  11. The Atlantic — What the Upper-Middle-Class Left Doesn’t Get About Inflation (4/14/2024):

    “Democrat party analysts and left-leaning economists have had quite enough of their fellow Americans’ complaints. As a striking number of poll respondents express alarm, despair even, about the rising cost of living during Joe Biden’s presidency, experts shake their heads. Don’t people realize that jobs are plentiful, wages are rising, and inflation is in retreat?

    Few have struck this chord more insistently than Paul Krugman, the Nobel Prize–winning economist and liberal New York Times columnist. In a February column titled “Vibes, Vegetables and Vitriol,” he suggested that inflation is no longer worrisome and backed up his view with field research.

    “Now, I go grocery shopping myself, and am occasionally startled by the total at the cash register—although that’s usually because I wasn’t factoring in the price of that bottle of scotch I picked up along with the meat and vegetables,” Krugman wrote.

    The modern Democratic Party, and liberalism itself, is to a substantial extent a bastion of college-educated, upper-middle-class professionals, people for whom Biden-era inflation is unpleasant but rarely calamitous. Poor, working-class, and lower-middle-class people experience a different reality. They carry the searing memories of the Great Recession and its foreclosure crisis, when millions of American households lost their home. A large number of these Americans worked in person during the dolorous early days of the pandemic, and saw its toll up close. And since 2019, they’ve weathered 20 percent inflation and now rising interest rates—which means they’ve lost more than a fifth of their purchasing power. Tell these Americans that the economy is humming, that median wage growth has nudged ahead of the core inflation rate, and that everything’s grand, and you’re likely to see a roll of the eyes.”

    https://archive.ph/ENAWH

    Are you any better off now than you were in January 2021?

    1. So that’s why my grocery bill is so high! It’s that pricey bottle of scotch that I absentmindedly threw into the shopping cart!

      The gaslighting will continue non stop. The chocolate ration has been increased from 20 to 15g.

      And here is a little anecdote: It’s two weeks after Easter and the supermarket still has tons of leftover candy and chocolate on clearance (70% off). What caught my eye were the Cadbury creme eggs. The regular price was $1.20 each. Yes, each. I remember when you could get a three pack for a dollar, which is the fire sale price now, and even with the discount there were no takers.

      1. Anyone else notice the recent disappearance of leftover holiday candy? Up until a couple years ago, grocery stores and WalMart would have 50%-75% off sales right after each holiday, and people stocked up. Now, most of the leftovers — especially chocolate — are whisked away, leaving the undesirable dregs like Peeps. Meanwhile, I have a relative with access to a food bank. She says there is always a huge pallet of bagged candy available, no limits.

        Anyone got any theories as to what happened?

        1. Perhaps most stores are ordering less holiday candy, knowing it won’t sell, so there is less leftover for the food banks. It’s possible the local Safeway overestimated the demand, but what is interesting is that even at 70% off it still isn’t moving.

    2. No, and likewise no better off than I was in January 2017.

      P.S. Partisan politics are for dumb sheeple. JMHO. 🙂

    3. A month ago, an 8-pack of canned fizzy water was $4 at Wal-Mart. Now it’s $4.18. At Giant, a pack of fancy hot dogs was $7.49, now it’s $8.49. Prices are increasing often enough that people remember it.

  13. After spending months on the market, it was sold on April 8 for $675,000—about half of the price commanded by the condo in late May 2019, when it was sold for $1,250,000.
    From the same Newsweek article
    That’s mainly because prices have gone back to normal after skyrocketing during the booming years of the pandemic, Redfin writes.”

  14. Nationally, homes are worth five to six times household earnings, up from a 4-1 ratio in 2019. In California, that rockets up to at least a 10-1 ratio, per Harvard University’s Joint Center for Housing Studies.”
    10-1 is not a problem because it’s California, and worth it. Where else can you see the beach, the mountains and a ‘Zombie apocalypse’ in the same day?

    1. Let it burn. When I was a kid growing up in So Cal there were exaggerated predictions of the San Andreas snapping and dropping most of the State to the bottom of the ocean. That would be a good start.

    2. Hopefully future historians will note that at one point people sold tickets to zombie bus tours as we entered our doom loop spiral. Surely that deserves some sort of historical accolade.

    3. In California, that rockets up to at least a 10-1 ratio, per Harvard University’s Joint Center for Housing Studies

      To live in a dystopian sh!thole.

  16. Wisconsin Election Loophole Allows Illegal Aliens to Obtain ID to Vote

    by Jamie White
    April 14th 2024, 1:28 pm

    Wisconsin’s DOT website lays out the petition process for obtaining a “free ID for voting” even without documentation.

    “Getting a free ID for Voting is easy even if you do not have the documentation to get a regular Wisconsin ID!” the website states.

    https://www.infowars.com/posts/exposed-wisconsin-election-loophole-allows-illegal-aliens-to-obtain-id-to-vote/

    Kagens Looking Glass ™
    @KagensNews

    At first, I was no way this could be and then I went to verify and it’s all there:

    Apr 12, 2024
    ·
    https://x.com/KagensNews/status/1778773300425961886

  17. Does it seem like the home ownership decision has turned into a high stakes financial gamble?

    1. At today’s prices it sure is a very high risk gamble, with a free ticket to schlongville.

    1. It’s always been hard for mom-n-pop eateries to stay in business, now it will be even harder.

      1. My prediction is that those mom-and-pop employees will be laid off, and then find new jobs in the food factories that make grocery-store convenience food. They’ll eat the same food, just eating in instead of eating out. Not sure about the DoorDash drivers tho. I guess they’ll do Uber and Amazon camper force.

        1. The food factories will have automation and economies of scale that will require few employees, and most will be illegals anyway.

          Imagine having someone in the the 1950’s and 60’s read this blog. They would think it was a joke, a parody, satire. The future was going to be like in The Jetsons. Clown World would simply be mind blowing and unbelievable to them.

          1. Imagine having someone in the the 1950’s and 60’s read this blog.

            Doesn’t take much imagination for me. I simply never imagined how much in debt people would go for fancier toys.

          2. The food factories will have automation and economies of scale that will require few employees
            My son when he was going to college he said: I want to be the guy fixing those machines when they go down. Majored in Industrial tech. He was very perceptive for a guy his age.

    1. Don’t fight that schlonging, it’ll only make it worse. Try to relaxed and go to your happy place.

    2. how’s it feel to be a rate dater?

      Like I said the other day, it’s like expecting to date a supermodel, only to find out that you’re stuck with Lizzo, though I have an even better one now. Remember Trigglypuff?

    3. “how’s it feel”

      Fidelity money market SPAXX yield 4.96% feels just fine.

      Don’t be a Debt Donkey.

      1. yield 4.96%

        I remember much higher yields on savings, but I didn’t have any so-called “savings”.

        1. 4.96% sounds good, especially if one accepts that the CPI is under 4%. Unfortunately the real number is much higher.

          I don’t expect the Fed to cut rates, and apparently neither does Mr. Market.

          1. I have wondered, why not say the inflation is under 2.0%, then rate cuts? Or is is too much for even the best gaslighters and spin doctors to to peddle?

          2. I have wondered, why not say the inflation is under 2.0%, then rate cuts?

            The Fed relies on credibility, which they have little of left.

            That maneuver would further deplete their reputation.

            Plus, it would ignite worse inflation, which historically always leads to storming the estates.

        2. I have projects this year that I can’t project how much they will cost.

          Taking the near 5% while I can because these funds need to stay liquid, and solvent.

  22. I’m enjoying this long-delayed run-up in the price of gold. I’ve sold a little, might sell some more to finance a planned overseas trip.

    2. A recent audit showed no one knows where the money went

      This kind of bare fisted corruption is no longer the exception in this country, it is now the rule. It does explain why some people, who seem very ordinary, appear to have unlimited incomes,

      The power of the brown envelope.

    3. And Prop 1 passed giving Newsom even more money to grow the homeless like a farmer grows crops

  24. Warning from me: This is tough to watch.

    Chuck Callesto
    @ChuckCallesto

    SHOCK VIDEO: ⚠️ Man in yellow workers vest fires multiple shots into the cab of a truck, driver of the truck backs up and RUNS OVER shooter..

    Apr 14, 2024

    https://x.com/ChuckCallesto/status/1779689882425700619

    Watch: Car Thief Mows Down Good Samaritan Who Fired Shots In Attempt To Stop Crime

    Infowars.com
    April 15th 2024, 12:39 pm

    Disturbing footage out of North Carolina shows the moment a car theft turned deadly with a suspect using a vehicle to run over and kill a good samaritan who tried to stop the midday carjacking last month.

    In the video, 38-year-old Jonathan Lecompte can be seen pointing a handgun at 28-year-old Ricky Driggers and yelling, “Don’t get in the goddamn truck, fool!”

    When Driggers ignored the command and sat in the truck’s driver seat, Lecompte fired four shots at him as he backed up the vehicle.

    Next, Lecompte shouted to bystanders, “Get out of the way, he’s gonna run into us!”

    Several people went running, including Lecompte, but the truck was able to strike him and send him flying into the air.

    Lecompte was taken to a nearby hospital where he was pronounced dead.

    Driggers was later caught by police and is being charged with first-degree murder, attempted common law robbery, larceny of a motor vehicle and felony fleeing to elude.

    1. That’s pretty bad, don’t need to see this more than once.

      The driver will be out on cash free bail, raise $1M+ on GoFundMe, aspiring rapper, etc. Just another day in Joe Biden’s America.

  25. “In March, Jain said he offered to forgive the rent owed if his tenants moved out, but they never left.”

    That’s a slap in the Donkey snout.

  26. Barrie Real Estate: Slipping In The $700-800K Price Range
    Mark Turcotte
    5 hours ago

    Discover why the $700-800k price range for Barrie real estate is slipping in this informative video. Learn about the current market trends, factors influencing the shift, and what this means for potential buyers and sellers. Stay ahead of the game with essential insights into the Barrie housing market. Watch now!

    Are you looking to sell or buy Innisfil, Barrie , ESSA real estate. Understanding the correlation between price and days on the market may be crucial to your success. In this video, we discuss how many property sellers in Barrie are now associating price with how long their property has been listed for sale. This allows them to price their property competitively and attract more potential buyers. Selling your home can be a daunting task, but with proper strategies and insights, you can achieve your goals with ease. Our team of experienced real estate agents is dedicated to helping you succeed in your real estate endeavours, whether you’re buying a new home or selling your existing property. Our mission is to provide you with actionable tips and tricks that will help you navigate the complex Barrie real estate market confidently. Don’t let your property sit on the market for months on end.

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

    29:22.

  27. ‘This week’s show-stopper sale in Key Biscayne involves a mansion selling for $18,000,000. Nestled on one of Key Biscayne’s most exclusive streets, this island estate boasts 300 plus feet of waterfront on a peninsula, with sweeping 180-degree panoramic views over Cape Florida State Park. Listed at $22,500,000 in November’

    This is a weekly update they do and I’ve posted it before. I think all of these examples sold for less than asking.

  28. ‘many good but overleveraged buildings will change hands, will be de-levered, and the second or third owner will enjoy a much lower basis’

    Don’t catch a falling knife.

  29. ‘Since the downturn in 2020, there has been a spate of projects, undertaken with bank loans and down payments from buyers, that have failed when developers collapsed or defaulted. Nomura estimated in November that there were 20 million units of unconstructed and delayed pre-sold homes in China in 2022, with 3.2 trillion yuan needed for their completion. A report by the Shanghai-based E-House consultancy said 3.85 per cent of all projects across China had financial woes last year, totalling 231 million square metres (2.49 billion square feet).’

    Ima buy Dan a tombstone. With a big fat crow on it next to his name.

      1. 13:20

        “The Spanish Inquisition killed a few thousand people over a few centuries, that was Stalin on a slow afternoon.”

  31. San Diego to Receive Additional $39 Million for Illegal Immigrants

    WARNER TODD HUSTON
    15 Apr 2024

    Migrant activists in San Diego, California, are celebrating the additional $39 million in federal funding for illegal border crossers, but others feel the money is being misspent.

    Almost $20 million of the funding is from the Department of Homeland Security. It is targeted to support migrants as they wait for the outcome of their immigration proceedings court cases after federal officials dropped them off in the county, KGTV reported on April 12.

    Rep. Juan Vargas (D-CA) celebrated the funding, saying, “This funding will help make sure they have the resources they need to continue their important work to provide migrant communities with food, shelter, and other critical services.”

    County Board of Supervisors Chairwoman Nora Vargas also highlighted the funding and insisted that the cash would be used to create a more sustainable migrant transition center.

    The city’s last migrant welcome center closed down on February 22 when it ran out of money, leaving all newcomers to be disgorged from Border Patrol buses onto the streets, left to their own devices.

    https://www.breitbart.com/immigration/2024/04/15/san-diego-to-receive-additional-39-million-for-illegal-immigrants/

    1. Supervisor Jim Desmond
      @jim_desmond

      The County of San Diego and a local NGO are getting $38 million to support migrant efforts. Money is not the problem; it’s about upholding our laws and securing the border.

      Over 125,000 migrants have been dropped off in San Diego over the past six months, and these numbers will only increase with this new funding.

      ·Apr 14, 2024
      ·
      https://x.com/jim_desmond/status/1779681830062694738

Comments are closed.