This Is The Reality – This Is The New Pricing
A report from the Naples Daily News in Florida. “For Lee County-based Royal Palm Coast Realtor Association, the median closed for houses and condos is only off slightly from $380,000 a year ago to $379,000 now. Sales sank by nearly 3% as its inventory grew by almost 60%, passing the 8,000 mark. ‘Even though it is a slight sellers market, there’s still an advantage for buyers right now,’ said MVP Realty’s Rick Harrison. ‘You have a little more leverage asking for closing costs, making offers a little bit lower.'”
Yahoo Finance. “In the south of Texas, a new housing development in a major boomtown stood frozen in time for a little over two years. The project by developer StoryBuilt, consisting of nearly 100 new homes off North Bluff Drive in Austin, was constructed in three phases. The first two saw about 68 units completed between 2017 and 2018. The third phase broke ground around 2019. But right before the pandemic, the third phase suddenly came to a halt, and homeowners in the surrounding community had no idea why. ‘They basically stopped all construction,’ said Steven Apodaca, who had moved to one of the earlier phases of the development. ‘I’m sure part of it was related to the pandemic, being able to get the manpower to continue construction. But then, even several years after that, everything was just on pause,’ he said.”
“While at least 10 of the units were completed in phase three, according to Apodaca, the rest of the community was littered with debris, exposed wires, and half-built homes, which sat seemingly abandoned from late 2019 until the end of 2023. For the buyers, the worst-case scenario had occurred. Their builder was entrenched in financial turmoil. Now, the struggling Austin developer is facing accusations of having misused funds. ‘It got to the point where unhoused individuals were sleeping in the units because they were partially constructed. Who knows what safety issues there were,’ said Apodaca, who is also part of the neighborhood HOA.”
“Jeremy Knight, a real estate agent and founder of The Knight Group, has followed the company’s travails and visited other unfinished projects in the Austin area. Though North Bluff is on track to wrap up this summer, he has seen other sites still littered with broken glass, vandalized by graffiti, and exposed to the elements. ‘Those homes are just deteriorating,’ said Knight. ‘I mean, they’re going to have to sell off some of these developments.'”
The Real Deal on Texas. “After nearly a year of investor battles, forensic accounting and investigations, the StoryBuilt receivership is starting to wind down. The process of paying back investors in the failed Austin developer will still take years, but in his most recent report, StoryBuilt receiver Mike Bergthold said he is ‘winding down the first phase of the assignment.’ In that stage, the receivership has tried to sell off StoryBuilt’s real estate portfolio — which it once valued at $2 billion — finish building some of the single-family homes in its pipeline, and sort through the company’s books.”
“The receivership still controls a handful of properties and joint-venture stakes. In recent months, it has let some go to foreclosure, not seeing a path to profitability on them, while trying to sell off or finish construction at others. The receivership has begun to wind down after a significant strategy shift this year. After struggling to find full-portfolio or going-concern buyers last year, it determined that the investors and company representatives with whom it met at the start of the process gave it ‘wildly optimistic opinions and information’ about the value of the company and its holdings. Since then, it has been moving to sell off projects individually, as quickly as possible.”
“Once the assets are liquidated, there are still the investigations. The receiver reports cooperating with the following state and federal agencies: the Federal Bureau of Investigation, the Texas Comptroller of Public Accounts, the Texas State Securities Board, the Internal Revenue Service, the U.S. Securities and Exchange Commission, the US Department of Labor, the State of Washington Labor and Industries and the Texas Labor Board.”
Market Watch. “Martin-John Rubio had been job hunting for a year when he saw a posting in early 2024 for a role in talent acquisition that was similar to his previous job, which he had left after his contract ended. But instead of the $33 an hour he’d been earning before, the listed pay was $17 an hour. Rubio was flummoxed, so he sent the job poster an email. ‘I said, ‘Hi there. I was just curious — was this a typo? Did you mean to put $27 or $37? Because it says $17. … It’s located in Silicon Valley. There’s no way that anybody would take that job,’ he told MarketWatch. He didn’t get a response. ‘I wasn’t trying to be a smart-ass,’ Rubio said. ‘Because $17 an hour? I mean, Christ, the fast-food people earn more than that nowadays.’ California fast-food workers started earning $20 an hour this year.”
“What’s going on? After a hiring spree in 2021 and 2022, when some companies had to offer higher salaries to fill roles for which workers were in high demand, many of those same companies are now trimming the pay they offer new hires, said Paaras Parker, chief human-resources officer at the human-capital-management platform Paycor. ‘The math would tell you, then, they would have to pay less for other types of roles,’ Parker said. ‘Because there’s just not more money available.'”
NBC San Diego in California. “Spring Valley residents gathered on Jamacha Road to speak out against a proposed plan to build sleeping cabins for homeless people in their community. In 2024, the San Diego County Supervisors approved in a 4-0 vote the construction of sleeping cabins in the Spring Valley community and to develop a recreational vehicle site in an unincorporated area near Lakeside. County Supervisors also voted to accept $10 million in state funding to help pay for the sleeping cabins. ‘There’s a lot of vacant areas, a lot of vacant spots that we can get them moved to. Having them right in a community, right in front of houses and schools, it’s scary for the people that live right in front of them,’ Spring Valley resident Marisela Baldivia said.”
From KXLY. “Smaller Washington cities like Clarkston are increasingly confronting the housing crisis more commonly associated with densely populated, urban areas. That could be a preview of what’s to come, not just in Washington but nationwide, following a U.S. Supreme Court decision expected in June. Justices are considering whether to overturn lower-court rulings in Oregon and Idaho that protect homeless people from being ticketed, charged or arrested for sleeping on public property when there is no shelter available. Howard Belodoff, the Idaho Legal Aid attorney who won the case against Boise, said a reversal would unleash cities to pass and enforce homeless bans. ‘If they reverse it, every podunk town is going to take these ordinances criminalizing the homeless and adopt them,’ said Belodoff. ‘These smaller cities have been trying to fly under the radar, but a reversal, well, they’re going to feel empowered to do it out in the open.'”
“Jennifer Graham, who grew up in Clarkston, said her daughter’s family, who now live there, can no longer enjoy the playground across the street at Foster Park. That’s the half-acre park where residents of ‘camp town’ were forced to move in February after City Council members made it illegal to camp anywhere else. ‘None of the kids in the neighborhood can play in the park because we’re not sure if there are needles lying in the grass,’ Graham said. ‘And the kids that have gone over to try to play, they get hollered at by the homeless people.'”
From PhillyVoice in Pennsylvania. “A man and woman shared food from a styrofoam container Wednesday morning as they sat on the sidewalk of Kensington Avenue, their backs against the metal door of a shuttered storefront. After moving to South Philadelphia from New Jersey, the couple had to leave the apartment where they were living partly because their roommate was using methamphetamine. Now, the couple is homeless and deep in addiction, using fentanyl ‘or whatever they put in the bag. You don’t know. That’s the problem,’ said the 41-year-old woman, who asked that PhillyVoice only use her initials, G.W.”
“Bright orange notices were posted in some storefront windows, and on some of the pillars of the El roaring above Kensington Avenue, announcing a Wednesday, May 8 deadline for removing tents, shelters and belongings in the area. G.W. said she does ‘feel bad for the children and the families’ in the neighborhood who regularly witness drug use and other traumas. When G.W.’s partner, G.M., was asked what he thought those with tents and make-shift shelters along Kensington Avenue were going to do, he said, ‘People are just going to pack their s*** up and move back.’ The pending pressure to move and heightened police presence in the Kensington may be a ‘blessing in disguise,’ increasing the couple’s hope to get help, G.W. added. ‘We’re trying to get into treatment before May 8 because who knows where they (city agencies) will send us,’ G.W. said. ‘We’re not happy being homeless.'”
CBC News in Canada. “Buyers who have been waiting years to move into homes at a pre-construction development north of Toronto are facing more uncertainty and delays, after the project was placed into receivership earlier this year. Operating as Mapleview Developments, Richmond Hill-based Pace Developments was building more than 1,000 condos and townhomes in six phases on 20 hectares of land across from the Barrie South GO station. But the future of the partially-completed Urban North Townhomes project, which first went up for sale in 2018, is now up in the air. ‘I feel betrayed,’ said Melenie Chan, who paid a $25,000 deposit after signing a sales agreement for a two-bedroom unit in September 2018. ‘It’s just sickening that they can take my money … I feel like I can’t do anything.'”
“The project is the latest Ontario residential development to enter receivership. Chan said she and her husband bought the home for their son to move into after he graduated high school. Their sales agreement identified the first possible move-in date as July 2021 and the last possible date as October 2023, although Chan says the closing date has been pushed back multiple times, with the latest being July 2024. ‘We wanted to give generational wealth to our kids,’ Chan said. ‘We wanted to be able to secure something for them so in the future they’re not struggling like how we did, you know, and it’s so upsetting because I feel like we can’t get there.'”
“Anna Mutetwa signed a sales agreement for a condo in August 2019, with an estimated closing date of October 2022. She said it took all of the savings she had to put down the $25,000 deposit. She planned to move in with her kids, but instead she’s still renting. ‘I’ve missed out on the pride of ownership. I’ve missed out on building equity. I’ve missed out on giving a stable home for my children,’ Mutetwa said. ‘I think there should be laws and regulations that regulates these developers, and they should be financially transparent every step of the way.'”
The Globe and Mail in Canada. “Toronto’s condo market appears increasingly out of kilter this spring as listings swell for compact downtown units while aspiring buyers struggle to afford more generous living spaces. In March, the segment for condos in the central 416 area code was the weakest in the Greater Toronto Area as transactions fell 15.5 per cent compared with the same month last year, according to Toronto Regional Real Estate Board data. Christopher Bibby, broker with Re/Max Hallmark Bibby Group Realty, says the majority of listings arriving on the market recently are one-bedroom rental units of 500 square feet or less in downtown neighbourhoods packed with high-rise towers. In many cases, landlords and landladies are unloading units when mortgages come up for renewal at higher interest rates.”
“‘The amount of one-bedroom units that are coming on now is overwhelming,’ Mr. Bibby says, noting that the supply of condo apartments in Toronto spiked 55.3 per cent in March compared with March, 2023. Monthly rents have been softening with increased supply in many buildings, he says, and owners face the burden of hefty carrying costs. ‘It has become a far less attractive option for investors.’ Many of the units in condo towers that developers were selling in preconstruction in past years were purchased by investors who didn’t care about the floor plan, finishes or view because they had no intention of moving in, he adds. ‘They have different street names but inside they feel very repetitive,’ he says. Those are the units that are hardest to sell in today’s market when many buyers are what the industry calls ‘end users.'”
“Sales of condos above $2-million are subdued, he adds, but may pick up as snowbirds return from the south and more downsizers sell their houses in the spring market. Sellers who reach for an ambitious price find out very quickly that buyers have other options, Mr. Bibby says. In some cases, sellers draw more than one offer but the unit still sells below asking. ‘This is the reality – this is the new pricing,’ says Mr. Bibby. During the pandemic, it was hard to find a unit downtown for less than $600,000, he points out. Recently a one-bedroom condo with a terrace at King Street East and Parliament Street changed hands around the $499,000 mark. ‘There are a lot of opportunities out there,’ he says. ‘You have a lot of negotiation leverage as a buyer.'”
The Daily Mail in the UK. “A furious leaseholder has claimed he is unable to sell his home because his developer failed to remove illegal cladding on a giant block of flats before plunging into administration. Geoff Radcliffe, 58, owns one of the 132 flats at the Wharfside development in Wigan, Greater Manchester, where leaseholders say they are now trapped with their properties after housing giant Stewart Milne Homes went bust in January. Stewart Milne, which contracts management company Contour to look after the site, is legally responsible for fixing all life-threatening fire safety defects in the homes – but innocent leaseholders have been left unable to sell, while their home insurance and management fees have soared out of control.”
“Mr Radcliffe, a leaseholder who bought one of the first-ever properties at Wharfside in 2007, told MailOnline: ‘It’s extremely stressful. It’s certainly affected my mental health. The financial consequences are just frightening.’ Mr Radcliffe, who bought his home for £142,000, said he is trapped now, explaining: ‘We’ve got mortgages on these properties and we are just stuck. I was one of the first ones to buy. I’d be lucky if I got £40,000 for it now.'”
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‘Mr Radcliffe, who bought his home for £142,000, said he is trapped now, explaining: ‘We’ve got mortgages on these properties and we are just stuck. I was one of the first ones to buy. I’d be lucky if I got £40,000 for it now’
Lots of FBs in this article.
It takes some real effort to take a bricks and mortar structure and make it a fire hazard
‘If they reverse it, every podunk town is going to take these ordinances criminalizing the homeless and adopt them,’ said Belodoff. ‘These smaller cities have been trying to fly under the radar, but a reversal, well, they’re going to feel empowered to do it out in the open’
Howie is one of those scumbag lawyers who are helping to ruin cities with guberment/court dogs help. See, these bums are Rosa Parks and this is the new civil rights movement!
‘None of the kids in the neighborhood can play in the park because we’re not sure if there are needles lying in the grass,’ Graham said. ‘And the kids that have gone over to try to play, they get hollered at by the homeless people’
These used needles seem to follow the bums around. I wonder why that is?
‘It got to the point where unhoused individuals were sleeping in the units because they were partially constructed. Who knows what safety issues there were,’
It seems like sleeping in a partially constructed housing unit could be safer than living in the street.
You will own nothing.
You will own nothing.
Because it says $17. … It’s located in Silicon Valley. There’s no way that anybody would take that job,’ he told MarketWatch.
How can Silicon Valley shack prices remain artificially high, when headcount is being slashed and salaries are starting to reflect true value?
At indeed dot com, talent acquisition jobs range from $22/hr ($48K/yr) to $55K/yr. Those with experience make up to $65K/yr. Only one listing showed an education requirement: High school or GED. tbh it’s better than SBUX.
a D female mayor, who is cleaning up Kensington. and blk too…..the times are a changin
Kensington is getting WORSE ….and No one cares.!!! 9 min
https://www.youtube.com/watch?v=7iOFfZL85CQ
‘We wanted to give generational wealth to our kids,’ Chan said.
If the criminal central bankers were ever kicked to the curb, housing would quickly revert to the historic norm of 3X median income.
The critical mass of mortgage holders would stop making their payments when Zillow says their home is worth less than they owe.
And after that they would also vote against whoever crashed the home prices. That will attract some attention.
Monthly rents have been softening with increased supply in many buildings, he says, and owners face the burden of hefty carrying costs.
Die, speculator scum.
The financial consequences are just frightening.’ Mr Radcliffe, who bought his home for £142,000, said he is trapped now, explaining: ‘We’ve got mortgages on these properties and we are just stuck. I was one of the first ones to buy. I’d be lucky if I got £40,000 for it now.’”
But…but…muh generational wealth!
I smell fear. Is that you, STR baggies?
https://twitter.com/texasrunnerDFW/status/1786770096951636037
Die speculators scum
“Currently has 3.6% loan with $730K balance over the next 27 years.”
So, back-of-the-envelope calc:
$730K will buy a really nice 4-bed cabin (~2500 sq ft), and in the month of May, it will rent for $1700/week. If we assume the place is booked half the time, it will take 20 years to pay this place off. This is before taxes and other expenses. It’s maaaaaybe doable, but awfully risky. So yes, they are betting on appreciation of the house itself.
Warren Buffett says AI may be better for scammers than society. And he’s seen how. Someone made a fake video of Buffett, apparently convincing enough that the so-called Oracle of Omaha himself said he could imagine it tricking him into sending money overseas.
thinking you are talking to a real live woman or a company, no ill wait on the phone and listen to your awful muzak
https://www.breitbart.com/news/investing-guru-warren-buffett-draws-thousands-but-charlie-mungers-zingers-will-be-missed/
“Far right”
New York Times — How Dangerous Is Europe’s Rising Far Right? (5/5/2024):
“This year the far-right surge across the continent looks dramatic. The latest polls show the National Rally with a clear lead, set to take some 31 percent of the vote in France compared with about 16 percent for the centrist Renaissance coalition of President Emmanuel Macron. Mr. Bardella is the only politician among France’s 50 “favorite personalities,” according to a recent ranking in the Journal du Dimanche newspaper.
The result is that anti-immigrant parties may win as many as a quarter of the seats in the 720-seat European Parliament. This could lead to a hardening of immigration regulations Europewide, hostility to environmental reform, and pressure to be more amenable to President Vladimir V. Putin of Russia.
For France, it means that a party that is nationalist, xenophobic and Islamophobic may well emerge reinforced — accepted, legitimized and eminently electable to high office in a way that would have been unthinkable even a decade ago.
Could this resurgence of parties with fascist roots really overturn European freedom and democracy? The optimistic view is that they are no more than pale descendants of history’s tyrants, constrained by the existence of a European Union that was created to guarantee peace among its members. That is a lulling view. The language of these parties may be less incandescent than former President Donald J. Trump’s invocations of “bloodshed,” but as they whip up support by scapegoating immigrants, and even move to lock in systems that could perpetuate their power, the threat to the postwar order seems real enough.”
https://archive.ph/xaYww
The New York Times supports the replacement of Europeans, got it.
Marxists gonna Marx.
You can’t expect much from the far-left New York Times.
anti-immigrant parties may win … could lead to … pressure to be more amenable to President Vladimir V. Putin of Russia.
Anti immigration is now being equated to Putin? Somehow I don’t think this narrative is going to fly. I’ll speak for myself and say that I would be more afraid of the local r*p* gamers tent-camping on the streets of Paris, than of Putin a thousand miles away.
No click bait here. Anyone who reads that rag is supporting it.
Stop supporting ‘them’.
Washington Post — Democrats bracing for massive protests at party’s August convention (5/4/2024):
“As protests over the Israel-Gaza war sweep college campuses, pro-Palestinian activists are ramping up plans for a major show of force at the Democratic National Convention in Chicago, increasingly worrying Democrats who fear the demonstrations could interfere with or overshadow their efforts to project unity ahead of the November election.”
Project unity? What a joke.
“If unruly protests unfold during the four days of the convention on Aug. 19-22 — especially if they feature inflammatory rhetoric, property damage or police intervention — they could strike at the heart of the Democratic message that President Biden represents competent and stable leadership, while presumptive Republican nominee Donald Trump is an agent of chaos and confusion.”
Competent leadership?
“The overriding risk for Democrats, analysts of both parties say, is that the protests could feed into a Republican message that the country is descending into chaos under an enfeebled Biden, an argument they have previously tied to illegal immigration and violent crime.
With further disruptions likely as colleges hold their commencement ceremonies in coming weeks, followed by expected protests at a NATO summit in Washington in July, a chaotic August convention could play into Trump’s hands as he presents himself as a figure of strength and control.”
https://archive.ph/mmjb7
Fiery but mostly peaceful.
Rabid leftists and globalist imports who want nothing good for me and mine at the throats of the corrupt, Old Guard Establishment Democrats who also want nothing good for me & mine. This is like watching the Iran-Iraq War: let ’em both lose.
Zero interest in supporting the left Marxist rags and their brain damaging propaganda.
Back during the Mostly Peaceful Protests, the globalist scum media echoed the corrupt DoJ and FBI claim that Antifa was an “idea” and any suggestion that Soros & his ilk were financing the REAL insurrectionists was a “conspiracy theory.” Of course the MSM investigative journalists, as well as the DoJ and FBI, never showed the slightest interest in following the money. But looky here – now that some of the radical-left Red Guards and globalist imports have slipped the leash and turned on their masters, suddenly the MSM is acknowledging…drum roll…a vast network of “philanthropist” financiers bankrolling the protestors.
What did emerge is a vast network that includes left-leaning, billion-dollar American philanthropies and collaboration with at least one foreign organization that Germany and Israel have banned for allegedly working with or supporting Hamas and another terrorist group.
https://www.nbcnews.com/news/us-news/s-palestinian-protests-us-rcna143666
A reader sent these in:
This ugly trend of gyms removing basketball courts to make room for pickleball is the first sign of societal Armageddon. What are we doing?
https://twitter.com/VicLombardi/status/1786015103466238382
the hype is wearing off, the vibes are shifting, you can feel it
https://twitter.com/zacharynado/status/1786068378060312869
“I think this correction is a bit overdue,” says @FairweatherPhD
as Florida homeowners are getting burned. “It’s also hitting at a time when HOA fees are going up, and insurance costs are going up.”
https://twitter.com/LastCallCNBC/status/1785818251571699995
My Plan To Buy South Padre Island
https://twitter.com/FritzTheDev/status/1785896008062517675
I just got this from someone who was supposed rent my condo this summer while their place was being Airbnb’d at the beach
https://twitter.com/Lehman_08/status/1785827709261590707
Last year i was waiting for crash to buy the house….this year i wont buy if the market crash……lost the job……new job paying 30% less…….f@ck the market…..trying to survive !!
https://twitter.com/desiwarenbufet/status/1786135661281493485
How’s marrying the house going? Still dating the rate? The break up is gonna biblical. 💦
https://twitter.com/ManyBeenRinsed/status/1785322195390017652
Active inventory in North Texas is up 38% from April of last year…up 46% in terms of months of inventory.
https://twitter.com/dfwaaronlayman/status/1786479106885812623
Dallas Fed Survey: “Commercial real estate transactions are down by 70-80% according to the brokers we talk to and our loan origination volume reflects that as well. Borrowers are concerned about future business prospects. At the same time the cost of everything we buy is rising”
https://twitter.com/zerohedge/status/1785320642369237115
That survey spooked me a bit, more so why got long bonds too last week, thinks are more broken under the hood then people realize it seems
https://twitter.com/eliant_capital/status/1786760498488221955
Finance journalists are one of a kind – cut rates so we can inflate my puppet masters assets further & devalue the currency.
https://twitter.com/DonMiami3/status/1786820808943206653
The latest the calculation of the “Sahm rule” recession indicator shows the three-month average of the (unrevised) unemployment rate is now 0.36 pp above the lowest such reading for the previous 12 months
This is the highest reading of the current cycle
https://twitter.com/NickTimiraos/status/1786439731623985286
“The iShares 20+ Year Treasury Bond ETF, which sports a hefty $44 billion in assets under management, has absorbed a 49% downdraft since August 2020, remaining only 6.5% above its post-crisis lows.”
https://twitter.com/RudyHavenstein/status/1784286016003826174
Every parent of a toddler knows this stance 🤣
Grab the wipes …
https://twitter.com/WallStreetSilv/status/1786907780659695874
Federal funding of universities, 2023:
Columbia: $1.2 billion
Penn: $955.6 million
NYU: $805.5 million
Yale: $776.8 million
Cornell: $736.2 million
Harvard: $676.1 million
UT Austin: $645 million
Berkeley: $451.4 million
Princeton: $403 million
GWU: $200.2 million
https://twitter.com/EndWokeness/status/1786837196835795360
🤡🌍 Construction begins on national monument to honour 2SLGBTQ+ community
https://twitter.com/ClownWorld_/status/1786839217513050310
Portland
https://twitter.com/ClownWorld_/status/1786830358698394091
For her mastery of insider trading
https://twitter.com/PlanetOfMemes/status/1786817141938794874
Watch this whenever you think you’re having a bad day
https://twitter.com/ClownWorld_/status/1786613083718189309
Oakland, California is another failed city
https://twitter.com/ClownWorld_/status/1786414168998047753
NYC is the epitome of failed leftist/liberal policies
https://twitter.com/ClownWorld_/status/1786192064352526588
It took 410 days to build the Empire State Building.
But it has only been 5,840 days (16 years) for this high speed rail bridge to no where to be built in Fresno, California. Please clap.
https://twitter.com/ChrisJBakke/status/1786623879336939887
Misdirection- nice! You see what they do with their carefully crafted language? Zoom out- home prices peaked in a lot of markets in 2022. And there’s this thing called seasonality. Oops
https://twitter.com/KennyCap_Phd/status/1786834998013628704
The Fed makes up whatever definition of inflation is convenient. Super core if weak but ignore it if strong
No Taylor Rule on way up but argue Taylor Rule on way down to cut. It’s all just dovish
The policy mandate is rip assets unless PCE is >3% and accelerating, so Summer 24
https://twitter.com/rev_cap/status/1786907844333260828
“I just got this from someone who was supposed rent my condo this summer while their place was being Airbnb’d at the beach”
Another $30k millionaire bites the dust!
“Finance journalists are one of a kind – cut rates so we can inflate my puppet masters assets further & devalue the currency”
Sounds about right.
Pigmen gonna pig.
I just got this from someone who was supposed rent my condo this summer while their place was being Airbnb’d at the beach
LMAO as STR speculator scum flake on their rental agreements with other STR speculator scum, as their financial Waterloo draws closer.
A lot of chatter that Biden is going to call a Climate Change Emergency, where he would have emerge powers to do a bunch of tyranny type actions.
This is a decent into madness. Are people going to comply to being locked down or other crazy restrictions when its a nice day outside.
What would be the premise of Climate Change emergency measures? We need to cut carbon emissions at warp speed ,or what.
Zero carbon emissions by 2050 is a insanity in itself, but this is getting ridiculous.
They are feeding cows pellets to keep them from their natural carbon emissions already.Geo engineering of various floods in places to claim climate change is the cause. Fires tied to arson, but that’s climate change.
They are going all out to create a illusion of Climate Change Emergency, just like Covid Panademic.
And people just don’t like the chem fake food they are trying to market.
They are going all out to be even more ridiculous with their fraudulent narratives, and censorship of dispute.
But these are the Great Narratives and they don’t have time to dream up new ones.Maybe Alien invasion would be a possible option.
Before it was your going to die in 12 years if Climate Change isn’t addressed. Now its they have to speed it up.
Is humanity really going to comply with this outrageous fraud that has more holes than Swiss cheese?
“Spring Valley residents gathered on Jamacha Road to speak out against a proposed plan to build sleeping cabins for homeless people in their community. In 2024, the San Diego County Supervisors approved in a 4-0 vote the construction of sleeping cabins in the Spring Valley community and to develop a recreational vehicle site in an unincorporated area near Lakeside. County Supervisors also voted to accept $10 million in state funding to help pay for the sleeping cabins.”
I wonder how Spring Valley got chosen for sleeping cabins over La Jolla? Wouldn’t unhoused people enjoy life more with oceanfront property to live on?
“sleeping cabins for homeless.”
Ok, so just read up on sleeping cabins. A number of programs going on. But, the big glaring thing is how expensive they are.
Government never seems to do anything in a cost effective way. Each little cabin ends up costing more than a one bedroom apartment would.
Crazies gonna crazy…
In my little burg the city set up some tent like structures for the homeless. They sleep 6 and drugs and junk are not allowed. The homeless hate them, but since shelter is provided they cannot camp in the city. Most move outside city limits to camp.
“… drugs and junk are not allowed.”
[Hence …]
“The homeless hate them, but since shelter is provided they cannot camp in the city.”
[This is genius.]
Well, we don’t expect liberal Richie’s to bring the homeless into their nabes. Plus I think land is cheaper in spring valley and is more readily available.
Why can’t they put these homeless in the unused office space? There is a TON of class B office space for lease; especially in suburban office parks. The office space isn’t exactly up to code for residential, but then, neither are these sleeping cabins. Even if the office building is destroyed, it’s better than sitting empty. And that stuff will likely be torn down anyway.
‘The project by developer StoryBuilt, consisting of nearly 100 new homes off North Bluff Drive in Austin, was constructed in three phases’
The Real Deal article says the liquidator is selling this sh$thole and it will get finished. RD runs circles on msm on most commercial RE news.
‘After a hiring spree in 2021 and 2022, when some companies had to offer higher salaries to fill roles for which workers were in high demand, many of those same companies are now trimming the pay they offer new hires…‘The math would tell you, then, they would have to pay less for other types of roles,’ Parker said. ‘Because there’s just not more money available’
It’s amazing what even just 5% rates changes Paaras.
‘Now, the couple is homeless and deep in addiction, using fentanyl ‘or whatever they put in the bag. You don’t know. That’s the problem’
Maybe you could understand why people don’t want to put up with yer sh$t G.W. I don’t want to be 100 feet from you.
‘I feel betrayed…It’s just sickening that they can take my money … I feel like I can’t do anything’
You gave them the money Melenie. And you can’t do anything cuz you gave it to them. It’s a circular thing yer on.
Bargaining <- you are here.
‘Monthly rents have been softening with increased supply in many buildings, he says, and owners face the burden of hefty carrying costs. ‘It has become a far less attractive option for investors.’ Many of the units in condo towers that developers were selling in preconstruction in past years were purchased by investors who didn’t care about the floor plan, finishes or view because they had no intention of moving in, he adds. ‘They have different street names but inside they feel very repetitive,’ he says. Those are the units that are hardest to sell in today’s market when many buyers are what the industry calls ‘end users’
I’ve heard this exact story so many times Chris, and it is still amusing.
‘a leaseholder who bought one of the first-ever properties at Wharfside in 2007, told MailOnline: ‘It’s extremely stressful. It’s certainly affected my mental health. The financial consequences are just frightening.’ Mr Radcliffe, who bought his home for £142,000, said he is trapped now, explaining: ‘We’ve got mortgages on these properties and we are just stuck. I was one of the first ones to buy. I’d be lucky if I got £40,000 for it now’
That may be Geoff, but it was still cheaper than renting. That’s 17 years you haven’t been putting cash in the trash, winnah!
Image file for Jeff — Do It Yourself Edition:
https://ibb.co/5KgLTRv
12 cubic yards capacity, about 9 yards full in one weekend. Excavating the floor of this last room next to the garage, a layer cake of soot, melted shingles, burnt up wood, household possessions, and food garbage.
You da man.
Looks like steady progress, keep it going.
Do you worry that the stock market crash that never arrives may finally happen this summer?
Wall Street’s summer of worry
Recent stock market wobbles mean investors’ summer vacations may be canceled.
Photo illustration of the Wall Street Bull with a suitcase, plane, laptop and palm trees.
…
https://www.businessinsider.com/wall-street-summer-worry-stock-market-crash-inflation-hamtons-vacation-2024-5
FINANCE
The AI boom reminds this expert of the dot-com bubble — with one dangerous difference
Theron Mohamed May 5, 2024, 5:07 AM ET
An image of a trader blowing a bubble.
Johannes Eisele/AFP via Getty Images
– The AI frenzy has shades of dot-com mania but with one big, dangerous difference.
– Professor Erik Gordon noted internet startups had far fewer investors than Big Tech does now.
– Companies like Nvidia are huge and make money, but if they do crash there’ll be sweeping fallout.
The AI boom resembles the dot-com bubble — but there’s one big difference that makes this craze far more dangerous, says one expert.
The princely valuations of companies like Nvidia reflect investors’ excitement about artificial intelligence. They’re betting it will supercharge productivity, power transformative products and services, and radically change the global economy.
It was a similar story in the late 1990s and early 2000s, when people lost their minds over the internet’s potential to reshape every aspect of their lives.
The internet was revolutionary and AI will be too, Erik Gordon, a professor at the University of Michigan’s Ross School of Business, told Business Insider.
“Both themes are right. But that doesn’t mean companies with valuations based on those themes were or are good investments,” he said.
“Many dot-com companies that drove the internet change went broke doing it. Many AI companies driving as big a change will go broke or lose half their value.”
Put another way, even if AI is the next big thing, the valuations of AI companies may still be out of whack, and trailblazers in the space might still crash and burn.
Nvidia has been one of the biggest winners from the frenzy. The chip maker’s revenues soared 126% to about $61 billion last financial year, fueling a near-600% rise in net income to about $30 billion.
Growth-hungry investors have driven Nvidia’s stock price up six-fold since the end of 2022, catapulting its market value from below $400 billion to some $2.2 trillion.
Deeper pockets, more pain
Gordon, who teaches entrepreneurship and researches many aspects of financial markets and technology, underscored one big difference between the dot-com and AI manias.
While the internet’s pioneers were mostly small startups, the leaders of the AI space include established, profitable titans like Microsoft and Alphabet.
“They can lose billions of dollars and not go broke,” Gordon said.
But the flip side is dot-com upstarts didn’t have massive shareholder bases so when they crumpled, “only brave or foolish investors were hurt.”
In contrast, the Big Tech names dominating AI make up a huge chunk of the US stock market’s value, and are mainstays of pension funds and retirement portfolios.
“The giant AI pioneers won’t go broke, but if AI losses drive their stock prices down, lots of investors will suffer,” Gordon said.
He’s previously drawn a line between the dot-com bubble and the tech-stock boom.
“This isn’t a fake-companies bubble, it’s an order-of-magnitude overvaluation bubble,” the academic told BI in early 2022.
…
https://www.businessinsider.com/ai-internet-dotcom-bubble-tech-stocks-nvidia-market-crash-gordon-2024-5