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Buyers Are Feeling That There’s Choice And There’s No Rush, They Don’t Feel Like They Have To Buy Right Now

It’s Friday desk clearing time for this blogger. “Palm Beach County collected record returns from its $5 billion investment portfolio, but a sharp increase in property foreclosures raises some concerns about future revenue, according to the county’s top finance official. Comptroller Joseph Abruzzo told commissioners that property foreclosures rose last year to more than 2,400 cases, nearly double the total from 2022. He said he expects foreclosure numbers to climb due in part to adjustable mortgage rates and high interest rates. ‘It’s really a changing marketplace on interest rates and the overall workforce is changing before our very eyes,’ said Abruzzo. ‘They [property owners] were paying 2% to 3% and then all of a sudden they’re paying 7% to 8%,’ he said in noting the rising interest rates.”

“Several times throughout the home-buying process, Jorge wanted to throw in the towel. But his wife encouraged him to continue working with the lender. And earlier this month, he received the keys to his new home. He first seriously considered buying a home when he realized rent was becoming increasingly unaffordable in Pilsen — a historic port of entry for immigrants. He discovered the complexities of the home-buying process and how expensive it can be, especially for people like him who are undocumented. Jorge, who worked with a counselor at the Resurrection Project, took out a loan with 7.6 % interest. ‘I don’t know if that is a lot or a little,’ said Torres.”

“Geovanni Costales, senior loan originator at Devon Bank, said that creating these home financing opportunities in Chicago can help ITIN holders take a significant step toward building generational wealth. ‘Within five years, their situation could change,’ said Costales. ‘They can either sell their property or refinance. If they become a citizen at that point, we can transition them to a path toward a conventional mortgage. The key point here is to let the client have access to the property, and that’s really what will drive wealth for that individual.'”

“The years since the depths of the pandemic have been pretty good for construction spending in this economy. Yet construction spending actually declined between April and May, according to new data from the Census Bureau. ‘You just can’t make a love connection. Because there are people who want housing, but they can’t afford what builders are able to supply under current circumstances. And that’s where we are,’ said Anirban Basu, chief economist of Associated Builders and Contractors. He expects this downward trend to continue.”

“Easing rents in certain markets are partly due to an increase in supply: A flood of new apartment rentals is coming online. About 90,300 new apartments were completed in the fourth quarter of last year, the second-highest number on record, Redfin said. The only time when completions were higher was in the second quarter of 2023. In some markets, such as the Sun Belt, where there is a significant oversupply of apartment rentals, ‘developers are reporting that properties … are seeing monthly lease signings at about half the historical rate,’ Jay Lybik, the national director of multifamily analytics at CoStar, told MarketWatch.”

“What comes up often comes down, and lumber prices came down hard as demand decelerated and supply ramped up to a speed that’s no longer necessary. ‘It’s low and slow, and it’s kind of been that way for a while,’ said Stinson Dean, the CEO of Deacon Lumber, a lumber trading company. ‘A large part of the industry is losing money at these prices right now.’ Paul Jannke, a principal at Forest Economic Advisors, said this housing-market malaise is a big problem for the lumber industry. ‘There’s so much wood,’ Jannke said.”

“New eco-friendly town homes in Millcreek illustrate the shifting sands of trying to meet Utah’s housing demands these days. Throw a shoe in any direction around Opus Green, and you are likely to hit a multistory residential building that’s gone up since Millcreek incorporated as a city at the end of 2016. After building upward of 3,000 rentals in more urban settings, ClearWater CEO Micah Peters changed course about five years ago amid a looming glut of so-called podium-style apartments, usually with a commercial ground floor and multiple stories of rentals above. ‘The dirty little secret in development that no one ever talks about is that build-to-rent is a zero-sum game,’ the CEO said, ‘with massive negative cash flow for the foreseeable future.’ And as interest rates have risen above 5%, he added, ‘you’re just kind of servicing debt and praying interest rates come down again.'”

“Kelly Ryan McCandless, 53, of Rexburg, was sentenced to 65 months in federal prison following his convictions for defrauding his partners out of more than $580,000, U.S. Attorney Josh Hurwit announced. According to court records, in 2017, McCandless and two others formed a partnership to build a 96-bed student housing property in Rexburg, Idaho. Over the course of the next year, however, and beginning with the very first bank withdrawal, McCandless falsified subcontractor invoices and bank withdrawal requests. He unlawfully used subcontractors’ signatures to withdraw loan proceeds from the bank at a higher amount than what was invoiced to build the project. The bank relied on those documents and wired McCandless the proceeds from the loan. McCandless continued this scheme for months and improperly took approximately $580,000, which he used to purchase personal items like a brand-new pickup truck, several snow mobiles, several dirt bikes, toy haulers, a Jeep, a Jeep Grand Cherokee, $5,000 in dental work, vacations, among other expenditures.”

“‘Like many fraudsters, McCandless was motivated by greed, lining his pockets with the embezzled money and spending it on expensive toys for himself,’ said Shohini Sinha of the Salt Lake City FBI. ‘While he may have benefited in the short term, he will now be held accountable for betraying and defrauding his victims.'”

“Residents in the Macanta neighborhood in Douglas County aren’t giving up their fight to protect the views they say they were promised. The community is just northeast of Castle Rock, off Crowfoot Valley Road. Homeowners say they were sold on the idea of protected open space. But now, the developer wants to build more homes. Neighbors say they paid a higher lot fee to live among nature and were told this 23-acre parcel of land would remain undeveloped. Since our initial story, other neighbors have reached out to CBS News Colorado saying they were victims of the same bait and switch in the neighborhood. ‘The advertisements on their website, posts in our clubhouse, people made homebuying decisions based on the open space that was advertised,’ said Sheridan Lofman. She wants to protect the nature and views she chose as her backyard, as well as her property values.”

“Grab a coffee at the Golden Pear in Southampton, New York, drive due south almost a mile straight down Main Street, take a left onto Gin Lane. The storied street, one of the most exclusive in the Hamptons, runs parallel to the ocean. Louise Blouin and John MacBain. bought the estate for a reported $13.5 million in late 1997 and renamed it La Dune. Blouin had made a fortune with MacBain, creating an international classified ad empire. La Dune was the perfect place to show off their success. But the couple, who brought their own strengths to the business, were growing apart. By 2000, they had divorced. And now Blouin has finally lost La Dune. The estate was sold in a bankruptcy sale this winter. She is crying foul and unfair play, mulling her options to sue everyone. ‘I don’t pay things. When you are a chairman and CEO of a global company, you don’t pay things,’ she said via Zoom. And then, a few breaths later, ‘I paid everyone, they stole the money on the other side.'”

“As for the house, ‘she has seller’s remorse,’ said John Allerding, a lawyer for Bay Point Advisors, Blouin’s last lender. If there had been a minimum reserve bid, ‘we would have had no bidders and we would be in the same position as we were when we got involved in September 2022: two properties that nobody wanted, generating expenses.’ One banker, who attended a lunch prepared by Blouin’s private chef on a terrace overlooking the ocean last summer, ultimately turned down her refinancing request. ‘When people live above their means against assets they have or inherited in order to tread water, it typically doesn’t end well. Nobody thought it was worth $150 million. It felt like Grey Gardens, with faded Hiroshi Sugimoto seascape photographs on the wall,’ he says. Such grand old houses, he notes, ‘get really beaten down by the ocean.'”

“There are 31,000 super commuters in San Joaquin County. Most of those that earn such a designation by driving three plus hours a day commuting reside in Tracy, Manteca, Lathrop, Mountain House, and Stockton. Data released by the United States Census Bureau has both San Joaquin and Lake counties with the highest percent of super commuters in Northern California. In the 2019 Census data regarding super commuters before the pandemic hit, almost 11 percent of San Joaquin County’s commuters were on the road for three plus hours a day. The latest data has 8 percent of Stanislaus County’s workforce labeled as super commuters. Super commuting was a growing problem throughout the 2010s, as metropolitan areas grew outward and workers moved further from job centers in search of affordable housing and homeownership. California has two of the nation’s top five super commuter regions — the Bay Area and Los Angeles. Others are in Seattle, New York, and Washington, D.C.”

“More buyers had been expected to enter the market after the early June interest-rate cut. But as more homeowners continue to put their properties up for sale, prospective buyers have faced less and less competition. ‘Buyers are feeling that there’s choice and there’s no rush,’ said Josie Stern, a realtor with Sutton Group-Associates Realty Inc., who has sold homes in Toronto for 35 years. She said with the increase in inventory, buyers ‘feel emboldened. They don’t feel like they have to buy right now.’ At the end of last month, there were 23,613 active listings – the highest volume since 2010. The home price index, which excludes the priciest properties, was $1,092,100 last month. That was 4.8-per-cent lower than June of last year. Homes prices lost the most value in the regions to the west of the city of Toronto. Year over year, the home price index in Halton and Peel were down by 5 per cent and 6 per cent, respectively.”

“A handful of recent sales suggest that some buyers who paid high prices for southern Ontario homes in 2022 are selling at significant losses. According to a listing on HouseSigma a one-bedroom, one-bathroom condo unit located at 304-1408 Bishops Gate just sold for $420,000 in May–down 36 per cent from its sale price of $657,000 in February 2022.”

“There is an oversupply of rental housing in Helsinki. Retta Management, the management company behind a newly completed high-rise in Kalasatama, Helsinki, is presently offering new tenants a 50-per-cent discount on rent for the first month. The company has earlier sought to attract tenants to the building by offering a 500-euro gift card to the Mall of Tripla. Its website indicates that 48 of the 240 flats in the building, which was completed at the end of last year, are vacant. ‘That’s an indication of the general market situation especially in the capital region,’ analysed Eemeli Karlsson, an economist at the Finnish Landlord Association. ‘The supply is considerably greater than it’s been for decades. The situation is completely different than four years ago, when people were waiting for flats.'”

“Bulldogs forward Liam Knight has taken a tough loss in the sale of his Vaucluse pad. The former South Sydney star was spotted moving out of the Old South Head Rd home over the weekend and property records reveal the home was sold in May, just 16 months after Knight bought it for $1.625m. The sale price was not disclosed but given the home was slapped with a $1.4m buyer’s guide through PPD agents Alexander Phillips and Thomas Fuller, Knight likely copped a loss on the home, possibly in the vicinity of $250,000. The pricing was somewhat surprising, given PropTrack had calculated the median apartment price has risen 13 per cent in the past 12 months prior to the home being listed, based on 71 sales.”

“Announced in 2006, Forest City was supposed to be a luxury housing project located on a small reclaimed island off south-west Johor. It launched a decade later, but as of August 2023, the joint venture between Chinese property developers Country Garden and a private Malaysian company backed by the state government of Johor and its sultan, remained unfinished, with only RM20 billion (S$5.8 billion) invested by Country Garden out of the announced US$100 billion (S$135 billion). While Forest City was meant to have a capacity of 700,000 people, less than 10,000 people live there currently — which makes it a great spot to film game shows and documentaries.”

“The third episode of season two saw the 10 remaining members of the group heading to Forest City, with the contestants exclaiming with excitement at the high-rise apartments. ‘We see these buildings as we’re rolling up, and they’re all like out of a King Kong movie, it’s crazy,’ contestant Sean Patrick Bryan said in a talking-head interview. ‘And I’m thinking, ‘Yo, what am I doing here?’ After the contestants came into a multi-storey carpark, their host, Ari Shapiro, described the city as ‘a perfect spot for a glamorous holiday home, for those who can afford it. And, most of the year, they lie empty.'”

“The Delhi Development Authority’s (DDA) condo project in Dwarka has run into hot waters with allottees complaining that the houses are nowhere near completion while questioning the quality of construction. The buyers also said that despite the houses at the Dwarka Golf View Condos being incomplete, they had been asked to pay the remaining 25% of the flat’s cost. The complaints included loose wall plaster crumbling when pressed by hands, weak cementing and brick quality, non-curing of cement, steel bars projecting from finished walls, improperly installed electrical conduits, glaring gaps between the wall as well as door and window frames, cracks and seepage on ceilings, loosely anchored railings on verandas, among many others.”

“‘We feel a deep sense of betrayal, we feel cheated…people have ended up paying almost 50 to 100 per cent premiums on these flats,’ said an allottee who requested to remain anonymous.”

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This Post Has 72 Comments

  2. ‘After building upward of 3,000 rentals in more urban settings, ClearWater CEO Micah Peters changed course about five years ago amid a looming glut of so-called podium-style apartments, usually with a commercial ground floor and multiple stories of rentals above. ‘The dirty little secret in development that no one ever talks about is that build-to-rent is a zero-sum game,’ the CEO said, ‘with massive negative cash flow for the foreseeable future.’ And as interest rates have risen above 5%, he added, ‘you’re just kind of servicing debt and praying interest rates come down again’

    Every time the shack and airbox industry come up with a ‘new thing’ somebody is about to get clobbered.

    1. “Three-bedroom units are going for between $630,000 and $677,000, with a premium on the 29 town homes facing the creek.”

      Have to pay extra for those mosquito bites!

  3. ‘I don’t pay things. When you are a chairman and CEO of a global company, you don’t pay things,’ she said via Zoom. And then, a few breaths later, ‘I paid everyone, they stole the money on the other side’

    This is an interesting article.

  5. Comptroller Joseph Abruzzo told commissioners that property foreclosures rose last year to more than 2,400 cases, nearly double the total from 2022.

    Is that a lot?

  6. ‘The dirty little secret in development that no one ever talks about is that build-to-rent is a zero-sum game,’ the CEO said, ‘with massive negative cash flow for the foreseeable future.’

    Die, speculator scum.

  7. At the end of last month, there were 23,613 active listings – the highest volume since 2010.

    Is that a lot?

  8. Year over year, the home price index in Halton and Peel were down by 5 per cent and 6 per cent, respectively.”

    The real loss of value is even greater, given central bank debasement of the currency and the inexorable expansion of the money supply.

  9. According to a listing on HouseSigma a one-bedroom, one-bathroom condo unit located at 304-1408 Bishops Gate just sold for $420,000 in May–down 36 per cent from its sale price of $657,000 in February 2022.”

    I’m experiencing cognitive dissonance. Every REIC “expert” quoted in the globalist scum media informs me that getting up onto that housing ladder is the key to building generational wealth.

  10. Retta Management, the management company behind a newly completed high-rise in Kalasatama, Helsinki, is presently offering new tenants a 50-per-cent discount on rent for the first month. The company has earlier sought to attract tenants to the building by offering a 500-euro gift card to the Mall of Tripla.

    Savvy renters need to decline such gimmicks, and hold out for meaningful rent reductions instead.

  11. While Forest City was meant to have a capacity of 700,000 people, less than 10,000 people live there currently — which makes it a great spot to film game shows and documentaries.”

    In a couple more years, it’ll be a great spot to film post-apocalypse movies.

  12. “‘We feel a deep sense of betrayal, we feel cheated…people have ended up paying almost 50 to 100 per cent premiums on these flats,’ said an allottee who requested to remain anonymous.”

    If stupid didn’t hurt, fools would never learn, anonymous allottee.

  15. Top Democrats are so alarmed about Joe Biden’s ailing health some fear a shadowy cabal is keeping him in power so they can pull levers behind the scenes, it is claimed.

    The astonishing theory was detailed in the liberal New York magazine. Its reporter Olivia Nuzzi revealed that even Democrat elites are stumped as to how and why the fast-declining 81 year-old is being allowed to continue his re-election bid.

    Even some Democrats are catching on to the fact that a “shadowy cabal” controls the Republicrat duopoly puppet show and installs pliable puppets in the White House by any means necessary.

    https://www.dailymail.co.uk/news/article-13602603/Terrified-democrats-Biden-dystopian-cabal-health-Presidency.html

      1. Just like everything else, they don’t even care enough anymore to hide it.

        They put it out there and nothing happens so they figure why try and hide it?

  16. Geovanni Costales, senior loan originator at Devon Bank, said that creating these home financing opportunities in Chicago can help ITIN holders take a significant step toward building generational wealth. ‘Within five years, their situation could change,’ said Costales. ‘They can either sell their property or refinance. If they become a citizen at that point, we can transition them to a path toward a conventional mortgage. The key point here is to let the client have access to the property, and that’s really what will drive wealth for that individual.’”

    Hey Jorge, in case you don’t already know, you’ve been schlonged! Welcome to America!

    2. “Jorge wanted to throw in the towel…
      …But his wife encouraged him…
      …how expensive it can be,
      …took out a loan with 7.6 % interest. ‘I don’t know if that is a lot or a little,’ said Torres.”
      …The key point here is to let the client have access to the property,

      It’s the strawberry pickers and Suzanne all rolled into one. Plus they only got “into” the house. 10 to 1 says they won’t be able to keep up and will never make it to a refinance.

      1. ‘I don’t know if that is a lot or a little,’ said Torres.

        You gotta buy it to find out.

  17. The Brits are going full marxist after yesterday’s election. Of course, the defeated “conservative” government looked and smelled rather leftist to me and Britain was already in such bad shape that that it’s hard to imagine that the new Labour government can make things much worse, but who am I kidding? Of course Labour can make things much worse.

    1. A couple of days without AC at 118 degrees

      Perhaps moving to Vegas, Phoenix or Tucson wasn’t such a great idea.

        1. Because 108° is so much cooler.

          So I guess the only way to have an EV is to live in Chicago during the summer so you have enough electricity to charge, and then move to Tucson in the winter so that the charger doesn’t freeze up.

          We are just not ready for EVs.

  19. “There’s so much wood,’ Jannke said.”

    That’ll be a popular quote in the years to come as the schlongings start adding up.

  20. “And as interest rates have risen above 5%, he added, ‘you’re just kind of servicing debt and praying interest rates come down again.’”

    Brilliant business plan!!!

    1. And as interest rates have risen above 5%

      In other words, they have returned to the historic norm where they will stay for a long time, which rate daters will soon understand.

    2. There are thousands of these BTR units all over the US. They look goofy to me. Tiny yards, etc.

      1. Climbing all those stairs should get old really fast.

        Three-bedroom units are going for between $630,000 and $677,000, with a premium on the 29 town homes facing the creek.

        Holy housing bubble, Batman!

  21. Former Atlanta Mayor Keisha Lance Bottoms, now a senior advisor to the Biden campaign, told MSNBC on Monday that the Atlanta Journal-Constitution’s editorial board engaged in “undue influence” on the election with an editorial calling for President Biden to end his campaign.

    “Let me just say I was very disappointed with the Atlanta Journal-Constitution,” she said. “We have talked about making sure we’re protecting elections and making sure there’s no undue influence, this was undue influence by the Atlanta Journal-Constitution or an attempt to influence.”

    “Editorial boards are supposed to honor fair elections. I don’t think it’s fair when an editorial board with ten people sitting in a room are trying to influence an election, especially in a state like Georgia where there’s already been discussions about influencing elections,” she said.

    https://www.realclearpolitics.com/video/2024/07/01/biden_campaign_accuses_editorial_boards_of_undue_influence_for_being_critical_of_biden_not_fair.html

  22. Fidelity is now offering 3 month CD’s at 5.30% more than the 4.97% SPAXX money market.

  23. Ezra Levant asks Nigel Farage if the election results are a rebuke of the mainstream media

    Rebel News

    4 hours ago

    Rebel News CEO Ezra Levant is on the ground in the United Kingdom as residents cast their votes in the General Election and the results trickle in.

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

    2:37.

    1. Migrants in northern France celebrating Labour’s landslide victory have given Sir Keir Starmer a nickname and have vowed to cross the Channel at the “first chance” they get.
      …
      Amir, 23, a bean-seller from Kurdistan, said migrants had given Sir Keir a nickname that roughly translates as a man who works for refugees or workers.

      He said: “We are calling him ‘Party Krekaran’ because we have heard that this guy is really helpful to the refugees.”

      And here I thought the UK border was already a sieve. Will Starmer send ferries to bring the invaders into Britain?

  24. ‘In some markets, such as the Sun Belt, where there is a significant oversupply of apartment rentals, ‘developers are reporting that properties … are seeing monthly lease signings at about half the historical rate’

    How do you like those 5% cap rates now Jay? BTW his company shook the data pom poms for the whole luxury apartment explosion yet bought an expensive distressed CRE auction company a few years ago.

    ‘half the historical rate’

    Nobody can say there’s a sunbelt shortage anymore. You built too much boys – again!

    1. You built too much boys – again!

      It’s what they do. And none of them wants to be the chicken who stops building voluntarily. That only happens when they become insolvent.

  25. ‘Comptroller Joseph Abruzzo told commissioners that property foreclosures rose last year to more than 2,400 cases, nearly double the total from 2022. He said he expects foreclosure numbers to climb due in part to adjustable mortgage rates and high interest rates. ‘It’s really a changing marketplace on interest rates and the overall workforce is changing before our very eyes,’ said Abruzzo. ‘They [property owners] were paying 2% to 3% and then all of a sudden they’re paying 7% to 8%’

    Let us be clear here Joe. These FB’s didn’t stop paying their loans because of the lending! Blame it on new condo laws, HOA screw ups, insurance insanity, deferred maintenance, property taxes, anything. But those loans were rock solid. When they were made.

  26. ‘Jorge wanted to throw in the towel. But his wife encouraged him to continue working with the lender. And earlier this month, he received the keys to his new home. He first seriously considered buying a home when he realized rent was becoming increasingly unaffordable in Pilsen — a historic port of entry for immigrants. He discovered the complexities of the home-buying process and how expensive it can be, especially for people like him who are undocumented. Jorge, who worked with a counselor at the Resurrection Project, took out a loan with 7.6 % interest. ‘I don’t know if that is a lot or a little’

    What you lack in math skills you just made up for with mojo Jorge, cuz yer a winnah!

  27. ‘You just can’t make a love connection. Because there are people who want housing, but they can’t afford what builders are able to supply under current circumstances. And that’s where we are’

    Accountants call that YP, your problem Anirban.

  28. ‘What comes up often comes down, and lumber prices came down hard as demand decelerated and supply ramped up to a speed that’s no longer necessary. ‘It’s low and slow, and it’s kind of been that way for a while…A large part of the industry is losing money at these prices right now’

    You built too much Stinson – again!

  29. ‘According to court records, in 2017, McCandless and two others formed a partnership to build a 96-bed student housing property in Rexburg, Idaho. Over the course of the next year, however, and beginning with the very first bank withdrawal, McCandless falsified subcontractor invoices and bank withdrawal requests. He unlawfully used subcontractors’ signatures to withdraw loan proceeds from the bank at a higher amount than what was invoiced to build the project. The bank relied on those documents and wired McCandless the proceeds from the loan. McCandless continued this scheme for months and improperly took approximately $580,000, which he used to purchase personal items’

    These are called progress payments. The bank is supposed to send somebody out to validate that the work was done before they give out the money. Sound lending!

    1. The bank is supposed to send somebody out to validate that the work was done

      I guess that costs money or something like that.

  30. ‘Since our initial story, other neighbors have reached out to CBS News Colorado saying they were victims of the same bait and switch in the neighborhood. ‘The advertisements on their website, posts in our clubhouse, people made homebuying decisions based on the open space that was advertised’

    You got schlonged Sheridan.

  31. ‘As for the house, ‘she has seller’s remorse,’ said John Allerding, a lawyer for Bay Point Advisors, Blouin’s last lender’

    It’s really buyers remorse John, but continue.

    ‘If there had been a minimum reserve bid, ‘we would have had no bidders and we would be in the same position as we were when we got involved in September 2022: two properties that nobody wanted, generating expenses’

    If you want to get rid of money pits, you really do have to give them away?

    ‘One banker, who attended a lunch prepared by Blouin’s private chef on a terrace overlooking the ocean last summer, ultimately turned down her refinancing request. ‘When people live above their means against assets they have or inherited in order to tread water, it typically doesn’t end well. Nobody thought it was worth $150 million…Such grand old houses, he notes, ‘get really beaten down by the ocean’

    How the mighty have fallen banker, good job not getting sucked down with them.

  32. ‘There are 31,000 super commuters in San Joaquin County. Most of those that earn such a designation by driving three plus hours a day commuting reside in Tracy, Manteca, Lathrop, Mountain House, and Stockton’

    The great thing about California is when they recognize they have a problem, they swiftly solve it in a cost effective manner.

  33. ‘Buyers are feeling that there’s choice and there’s no rush…She said with the increase in inventory, buyers ‘feel emboldened. They don’t feel like they have to buy right now’

    They aren’t really buyers then Josie, are they?

  35. ‘A handful of recent sales suggest that some buyers who paid high prices for southern Ontario homes in 2022 are selling at significant losses. According to a listing on HouseSigma a one-bedroom, one-bathroom condo unit located at 304-1408 Bishops Gate just sold for $420,000 in May–down 36 per cent from its sale price of $657,000 in February 2022’

    Another mighty a$$ pounding.

  36. ‘offering new tenants a 50-per-cent discount on rent for the first month. The company has earlier sought to attract tenants to the building by offering a 500-euro gift card to the Mall of Tripla. Its website indicates that 48 of the 240 flats in the building, which was completed at the end of last year, are vacant. ‘That’s an indication of the general market situation especially in the capital region,’ analysed Eemeli Karlsson, an economist at the Finnish Landlord Association. ‘The supply is considerably greater than it’s been for decades’

    Decades? So the shortage is over Eemeli?

  37. ‘just 16 months after Knight bought it for $1.625m. The sale price was not disclosed but given the home was slapped with a $1.4m buyer’s guide through PPD agents Alexander Phillips and Thomas Fuller, Knight likely copped a loss on the home, possibly in the vicinity of $250,000. The pricing was somewhat surprising, given PropTrack had calculated the median apartment price has risen 13 per cent in the past 12 months prior to the home being listed, based on 71 sales’

    Australian real estate always goes up, even if it doesn’t.

  38. ‘We see these buildings as we’re rolling up, and they’re all like out of a King Kong movie, it’s crazy,’ contestant Sean Patrick Bryan said in a talking-head interview. ‘And I’m thinking, ‘Yo, what am I doing here?’ After the contestants came into a multi-storey carpark, their host, Ari Shapiro, described the city as ‘a perfect spot for a glamorous holiday home, for those who can afford it. And, most of the year, they lie empty’

    That’s why you make the big bucks Ari.

  39. ‘The buyers also said that despite the houses at the Dwarka Golf View Condos being incomplete, they had been asked to pay the remaining 25% of the flat’s cost. The complaints included loose wall plaster crumbling when pressed by hands, weak cementing and brick quality, non-curing of cement, steel bars projecting from finished walls, improperly installed electrical conduits, glaring gaps between the wall as well as door and window frames, cracks and seepage on ceilings, loosely anchored railings on verandas, among many others’

    ‘We feel a deep sense of betrayal, we feel cheated…people have ended up paying almost 50 to 100 per cent premiums on these flats,’ said an allottee who requested to remain anonymous’

    Article says they offered you a payment plan anonymous allottee, do you have what it takes to be a winnah!?

  40. Home Leaves Buyers Feeling Scared (Peel Region Real Estate Market Update)

    Team Sessa Real Estate

    1 hour ago MISSISSAUGA

    In this episode we take a look at the current Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate home prices and market trends for week ending June 26, 2024. We also discuss why extra security at a property can work against a seller.

    https://www.youtube.com/watch?v=FpI0ADBz6UY

    12 minutes.

    1. “We also discuss why extra security at a property can work against a seller.”

      Bars covering doors and windows or cameras everywhere are sure sign of higher property insurance rates as well as potential violence.

  41. Chopin – Spring Waltz (Mariage d’Amour)

    Toms Mucenieks

    7 years ago #Piano

    Disclaimer: This piece is also known as Mariage D’amour by Paul de Senneville. ”Chopin – Spring Waltz” is just a pseudonym. Chopin hasn’t written this piece. I uploaded this piece when I, just like you, didn’t know the truth that this piece is not by Chopin! But… Unfortunately, if I’ll change the name of this video to the correct one, other videos with name “Chopin Spring Waltz” will rise on top(there’s hundreds of them!), so I put this disclaimer on top of description of the most popular video. I truly didn’t want to pour misinformation around. I’m genuinely sorry for inconveniences it caused to you… 🙁

    https://www.youtube.com/watch?v=EFJ7kDva7JE

    5:11.

  42. Are you enjoying living in Governor Gavin’s California?

    Where you pay the highest price for gasoline and one of the highest tax burdens and the power goes out like we’re in a third world country. And he, the state air board and the Public Utilities Commission want to make this an all-electric state.

    Please. Newsom loves to brag about the California economy and ignore the more than 27% of the people who live in function poverty. Sadly, they’re living in a third world country in stark contrast to the coastal elites that Newsom panders to.

    And now grab a tight grip on your wallet when the November general election comes around.

    Bay Area counties will vote on an unprecedented $20 billion bond for affordable housing that would raise property tax bills by $19 per $100,000 in assessed value or $119 for a less than average priced home at $1 million.

    Then there’s the governor and the legislature who are compromising on two more bond issues despite Newsom’s favored bond in March—the only one on the ballot—squeaking by with a 50.6% margin. There was no organized opposition,

    This time around, the Democrats in charge are pushing two with a price tag of $10 billion each, one responding to climate change and the other for school rehabilitation. Given that there’s no program to regularly provide funds for school facilities to be rehabbed when many were built 50-60 years ago, an education bond is reasonable. It’s also coming at the time when voters seem ready to snap their checkbooks shut.

    The climate bond is pandering to environmental extremist groups who have been hammering for spending. Some elements are reasonable—improving drinking water for low-income communities for instance and funds to manage forests—why an ongoing maintenance function should be paid for by a 30-year bond that doubles in price is a question the spendthrift Dems should have to answer.

    For perspective on spending, consider this offering from UCLA economist Lee Ohanian who writes a regular Tuesday column. Citing the Tax Foundation in response to the governor’s video state of state address, California ranks 49th (one from bottom) in state income taxes and has the highest tax collections for any state at $7,200 per person compared to the national average of $4,374. Considering job growth pre-pandemic until now, California lost 402,000 jobs while nationally jobs grew by 6.2 million. He also notes that the state budget increased 63% between 2019 and 2024 while the state lost about 500,000 residents.

    Gavin and the Dems have a spending problem, not a revenue problem and we pay the highest electrical rates, gasoline prices and drive on some of the worst roads. Some ugly management issues.

    Here locally, the City Council is considering placing a one-half sales tax increase on the ballot. Given the profligate spending by the council majority prior to the last few months and a ballot that will be crowded with spending measures, you must wonder how it will fare.

    When it comes to stupid budget decisions that avoid dealing with tough issues, the Oakland City Council and Mayor Sheng Thao who is facing a recall campaign, take the sad cake. Presuming the sale of the city’s share of the Oakland Coliseum goes through, the council approved the mayor’s recommendation to devote all of that one-time money to balancing the budget for the fiscal year that started Monday. Talk about kicking the can down the road and making the situation worse in the future. The Oakland school board, along with others along the I-880 corridor, have ducked the need to close tiny schools for years.

    https://www.pleasantonweekly.com/blogs/tim-talk/2024/07/04/welcome-to-gavins-third-world-california/

    1. “Are you enjoying living in Governor Gavin’s California?”

      That boy is a Newsom.

    2. Newsom just visited the White House this past week, so damage control is in high gear. Is Biden slinging the F* word to his staffers yet?

  44. Previously-Deported Illegal Charged With Sexually Assaulting 14-Year-Old Girl in Florida

    by Dan Lyman
    July 5th 2024, 12:48 pm

    A male illegal alien has been charged with sexually assaulting an underage girl in Florida just days after he was deported from the U.S., authorities say.

    The Okaloosa County Sheriff’s Office (OCSO) announced the arrest of 24-year-old Jose Chan on June 26.

    Authorities believe Chan preyed upon a 14-year-old girl at her home on February 25.

    The victim disclosed the alleged abuse to family members who then brought her to Destin-Fort Walton Beach Hospital.

    “A medical examination of the victim showed a positive finding for sexual abuse,” OCSO explained in a press release.

    “Florida Department of Law Enforcement lab results also found evidence of the girl’s DNA on Chan, via buccal swabs obtained from the defendant.”

    Incredibly, Chan had been removed from the U.S. to his home country of Guatemala barely two weeks before the alleged attack.

    “The FBI confirmed the identity of Chan due to his past deportation by the U.S. Customs and Border Protection on February 9th, 2024,” OCSO said.

    Immigration and Customs Enforcement lodged a detainer against Chan on June 27.

    An investigation and legal proceedings are ongoing.

    https://www.infowars.com/posts/previously-deported-illegal-charged-with-sexual-assaulting-14-year-old-girl-in-florida/

  46. So it took longer than anticipated for this crash. I was too early in 2005 also.
    This time 2026 will be a good year to catch bargains.

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