It seems most are stating that the government loans to Chrysler are never coming back. This I believe is true.
But all is not lost. Most of those Billions went on to pay accounts receivables, employee salaries, and health plans. This money (although it is practically printing) ended up in the hands of those most likely to need it.
I hate handouts... but if it happens to end up with those who need it the most, then... it's tolerable.
As a Manhattan renter, I'd change that headine to market conditions continue to improve. From the late 90s on, rents have skyrocketed here. Newcomers and non-financial sorts found even previously cheap, crummy apartments marked to bankers salaries...driving the interesting sorts who really add character to this town to Brooklyn and even Queens. The whole island had a smug, middle-aged tone...not the gritty, sleazy underbelly that gives life to this town. Landlords negotiating, brokers fees being paid by landlords, the huge inventory of new, unsold condos going rental...what's not to like?
How direct is the link between occupancy and rents? More directly, how much does single family rental occupancy affect housing values (sales) in that area?
You would think with all the foreclosures, 600k+ a month losing their jobs, apartments lacking clientele, etc, that we'd see many more visible homeless, but not really.
Belongs on dead thread below, but while O is saying 30-60 days, the PLAN isn't planned to be filed until some time is August, which, given the complexity, sounds like the shortest time possible.
So we will be finished the plan before the plan is finished.
.....there is no rental market here. The town population is continually decreasing. Some rentals have been on the market the entire year. Since there is no industry, there are no jobs, people have left town, lots of available rentals in this god-forsaken "too-big for its britches" dusty dirty desert town - just the way I like it. Go back to where you came from. I need coffee.........
As both a renter and a land-lord, 2 different cities its an interesting situation for myself. While I may be saving money on my rent, I'm on the short-end of the stick as a land-lord. I have personally not seen the dip though in rent coming in. I have been steadily increasing rent over the past 4 years with different renters each time. But, I assume these are merely the micro-economics of my specifics area.
On this note, I also find it interesting that will all of the money going towards first-time home buyers, renters are simply left standing around wondering where there money is!? Fortunately the market is giving us some break, but the for sale market has also seen a down-turn AND they are being given government money. For more thoughts on this, check out my post here: Renters Slighted Once Again « Twenty Something Sense
Although I currently own a house, I can honestly say that I will most likely never purchase a house again. I have consistently found that I can rent exactly what I want for far less than it costs to own a home. The cost of owning a home is very hidden (maintenance, taxes, insurance - even selling a house (if you can!) is expensive!!). My point here is, be happy if you're a renter!! Now is your time...
Loans/Bankruptcy eventually have to be paid off after or within a 5 year period, a mention to "Interesting Times" about Chrysler receiving government loans a big corporation would definitely have to be responsible.
To Fried, I lived in Manhattan for a very short time on 23rd and FDR and was looking to move out to a fairly bigger place, I looked on Prudential's website and found a town home in Gramercy Park for $1600 a month with electric included, 2br. I definitely think if you look very carefully a lot of renters are looking to negotiate. There is certainly a large number of rental properties available.
From the article I read 73 percent of respondents said markets were looser (meaning higher vacancy and/or lower rents). In a way you could think about it as a worsening market for the renter/owner?
Oh yes - that tidal wave at the front end of the curve looks like it could be curling over - when it breaks things the financial landscape is going to look...different...
Loans/Bankruptcy eventually have to be paid off after or within a 5 year period
Chrysler is not technically doing a reorganization. They are going to create a separate entity that will purchase select assets from the existing company.
If you not the the comments in the blue box from the graph in the second link I posted above, over the quarter total UST marketable debt increased by 8.1% QoQ, the amount of debt to roll in the first two quarters increased by 10.3%, and the debt in the front quarter roll increased by 12.8%...
The number of new zero lot line villas listed for rent in gated developments in SW Florida has increased steadily since the beginning of this year. Looks like the inventory of older, badly kept rentals - and there are loads of them here - have become unrentable. Craigslist is overwhelmed with places you wouldn't like, and they're not moving.
I think the rental complexes won't see obvious competition until they reach a tipping point - where they find themselves unable to compete with relatively new SFRs on price and amenities. The villas have garages, yard maintenance and private pools. When they hit price parity, and that's beginning to show up now, I expect most will prefer the villas.
When you can move upmarket for same or less, you probably move.
As to homeless, they tend to drop out of sight except for the professional panhandlers, who sorta have a job.
Yesterday I parked my car in my favorite parking lot near the courthouse. Homeless sometimes hang out there, as it is a dead spot, and under the overpasses, and actually rather pleasant with trees. I seldom see more than 1. (I'm on the other side of a high chain link fence and there is a person there to collect $$.) When I left to go do my probate stuff there was one black guy, fast asleep on a blanket, and a rather clean white couple that I eyed
suspiciously. When I got back there was a different black guy asleep in the same space and one or 2 others. Looks like they were sleeping in shifts.
They are out there, but they tend not to register.
“Interestingly,” he continued, “despite considerable media focus on the “shadow rental” market, only a slim majority of respondents noted greater competition from condos and single-family rentals than in previous years.”
Here in the northwest suburbs of Chicago, the rents being asked for much of the shadow inventory continue to be completely unrealistic. So on the MLS rental listings you see the same places that were there last year, asking the same rent -- always an amount sufficient to completely cover their mortgage, tax and insurance -- still empty. One wonders how long the owners can continue in their vain hope that they'll find some sucker willing to rent from them at a monthly payment that's now much higher than what would be required to buy the same place at current selling prices (at last beginning to drop) and the currently lower mortgage interest rates.
Oh, Liz, I was down on our bayfront last night and saw someone bundled up in a blanket fast asleep on the lawn - nicely pressed shirts hanging in a tree, and a suitcase. People are having an awful time.
This was in the park beside the Van Wezel performing arts center.
"Oh, Liz, I was down on our bayfront last night and saw someone bundled up in a blanket fast asleep on the lawn - nicely pressed shirts hanging in a tree, and a suitcase. People are having an awful time."
NY Times reporting on (non-radioactive) leak from deteriorating underground cooling water pipe at Indian Point 2. Not inspected since plant was built in 1973 (26 years ago).
1
Hard to be funny without my morning coffee.
Treasuries yields have broken through resistance this week. I thought the Fed was supposed to be buying these things.
16, why the rate of decline is a mere plunge for this time period.
TAKE THE MARKET ON THAT
Why are conditions worsening.. have they not received the official memo about green shoots?
DCRogers, I hear you. I slept in a little this morning ... but I expect the news to wake me up!
Auto sales will be interesting. I wonder if Chrysler sold anything?
best wishes
It seems most are stating that the government loans to Chrysler are never coming back. This I believe is true.
But all is not lost. Most of those Billions went on to pay accounts receivables, employee salaries, and health plans. This money (although it is practically printing) ended up in the hands of those most likely to need it.
I hate handouts... but if it happens to end up with those who need it the most, then... it's tolerable.
As a Manhattan renter, I'd change that headine to market conditions continue to improve. From the late 90s on, rents have skyrocketed here. Newcomers and non-financial sorts found even previously cheap, crummy apartments marked to bankers salaries...driving the interesting sorts who really add character to this town to Brooklyn and even Queens. The whole island had a smug, middle-aged tone...not the gritty, sleazy underbelly that gives life to this town. Landlords negotiating, brokers fees being paid by landlords, the huge inventory of new, unsold condos going rental...what's not to like?
Wall*Street is all about "Bamboo Shoots"
I'm not sure if this implies torture, or possibly it's short for "Bamboozler Shoots"
+sso
How direct is the link between occupancy and rents? More directly, how much does single family rental occupancy affect housing values (sales) in that area?
More bullishness. Things falling "at a slower rate" is the new "up".
You would think with all the foreclosures, 600k+ a month losing their jobs, apartments lacking clientele, etc, that we'd see many more visible homeless, but not really.
We still aren't to lows of '01.
How long is this recovery going to last?
Rent now or be priced out forever.
"that we'd see many more visible homeless,"
Turn off the SEP field and you will see them. Ain't hard.
Somebody Else's Problem - Wikipedia, the free encyclopedia
["Worse conditions" implies higher vacancy rates and lower rents - so it is good for renters]
Green shoots!
Belongs on dead thread below, but while O is saying 30-60 days, the PLAN isn't planned to be filed until some time is August, which, given the complexity, sounds like the shortest time possible.
So we will be finished the plan before the plan is finished.
Kinda the opposite of the stress tests.
.....there is no rental market here. The town population is continually decreasing. Some rentals have been on the market the entire year. Since there is no industry, there are no jobs, people have left town, lots of available rentals in this god-forsaken "too-big for its britches" dusty dirty desert town - just the way I like it. Go back to where you came from. I need coffee.........
... i so wish i rented instead of buying three years ago...
How long is this recovery going to last?
Until just shortly after the Banksters have raised their capital - and just before any meaningful real world sales figgures are reported.
As both a renter and a land-lord, 2 different cities its an interesting situation for myself. While I may be saving money on my rent, I'm on the short-end of the stick as a land-lord. I have personally not seen the dip though in rent coming in. I have been steadily increasing rent over the past 4 years with different renters each time. But, I assume these are merely the micro-economics of my specifics area.
On this note, I also find it interesting that will all of the money going towards first-time home buyers, renters are simply left standing around wondering where there money is!? Fortunately the market is giving us some break, but the for sale market has also seen a down-turn AND they are being given government money. For more thoughts on this, check out my post here: Renters Slighted Once Again « Twenty Something Sense
Although I currently own a house, I can honestly say that I will most likely never purchase a house again. I have consistently found that I can rent exactly what I want for far less than it costs to own a home. The cost of owning a home is very hidden (maintenance, taxes, insurance - even selling a house (if you can!) is expensive!!). My point here is, be happy if you're a renter!! Now is your time...
I see the debtrius leftovers of failed business enterprises everywhere, and there are scores more failed humans out there, but where are they?
iceman (profile) wrote on Fri, 5/1/2009 - 9:38 am
Treasuries yields have broken through resistance this week. I thought the Fed was supposed to be buying these things.
http://1.bp.blogspot.com/_jbs0fnMs1sc/SeIJHjECB4I/AAAAAAAAAHU/lXkoolbTbvA/s1600-h/12APR2009+Treasury+Debt+Maturity.PNG
They don't have time for the long end. They are busy running an ABCP conduit capitalized with the US national tax receipt base.
Arbitrage_Macht_Frei (profile) wrote on Fri, 5/1/2009 - 8:58 am
but where are they?
OUTTA SIGHT OUTTA MIND!
UMichigan consumer sentiment up to 65.1 in April
U.S. April ISM index 40.1% vs. 36.3% March
Loans/Bankruptcy eventually have to be paid off after or within a 5 year period, a mention to "Interesting Times" about Chrysler receiving government loans a big corporation would definitely have to be responsible.
To Fried, I lived in Manhattan for a very short time on 23rd and FDR and was looking to move out to a fairly bigger place, I looked on Prudential's website and found a town home in Gramercy Park for $1600 a month with electric included, 2br. I definitely think if you look very carefully a lot of renters are looking to negotiate. There is certainly a large number of rental properties available.
From the article I read 73 percent of respondents said markets were looser (meaning higher vacancy and/or lower rents). In a way you could think about it as a worsening market for the renter/owner?
Best,
Michael
The “MAN” Experience
Although I currently own a house, I can honestly say that I will most likely never purchase a house again.
Same... it's not just the hidden costs, but the lack of labor mobility is a huge drag.
Byz,
Oh yes - that tidal wave at the front end of the curve looks like it could be curling over - when it breaks things the financial landscape is going to look...different...
This is the marketable treasuries by maturity as of the end of 2008 (same link as Byz posted)
http://1.bp.blogspot.com/_jbs0fnMs1sc/SWmDF0v2qeI/AAAAAAAAAE8/nVQ-2Njd76A/s1600-h/10Jan2009+Treasury+Debt+Maturity.PNG
This is the same curve one quarter later, at the end of March 2009...
http://1.bp.blogspot.com/_jbs0fnMs1sc/SeIJHjECB4I/AAAAAAAAAHU/lXkoolbTbvA/s1600-h/12APR2009+Treasury+Debt+Maturity.PNG
Sorry econ. Just picked that up off the Google link. I edited it to the newer, Q2/09 figs.
Loans/Bankruptcy eventually have to be paid off after or within a 5 year period
Chrysler is not technically doing a reorganization. They are going to create a separate entity that will purchase select assets from the existing company.
"Worsening"="Oh no, housing is becoming more afforable! Somebody put a stop to it! There oughta be a law against it! Oh, the humanity!"
If you not the the comments in the blue box from the graph in the second link I posted above, over the quarter total UST marketable debt increased by 8.1% QoQ, the amount of debt to roll in the first two quarters increased by 10.3%, and the debt in the front quarter roll increased by 12.8%...
The number of new zero lot line villas listed for rent in gated developments in SW Florida has increased steadily since the beginning of this year. Looks like the inventory of older, badly kept rentals - and there are loads of them here - have become unrentable. Craigslist is overwhelmed with places you wouldn't like, and they're not moving.
I think the rental complexes won't see obvious competition until they reach a tipping point - where they find themselves unable to compete with relatively new SFRs on price and amenities. The villas have garages, yard maintenance and private pools. When they hit price parity, and that's beginning to show up now, I expect most will prefer the villas.
When you can move upmarket for same or less, you probably move.
As to homeless, they tend to drop out of sight except for the professional panhandlers, who sorta have a job.
Yesterday I parked my car in my favorite parking lot near the courthouse. Homeless sometimes hang out there, as it is a dead spot, and under the overpasses, and actually rather pleasant with trees. I seldom see more than 1. (I'm on the other side of a high chain link fence and there is a person there to collect $$.) When I left to go do my probate stuff there was one black guy, fast asleep on a blanket, and a rather clean white couple that I eyed
suspiciously. When I got back there was a different black guy asleep in the same space and one or 2 others. Looks like they were sleeping in shifts.
They are out there, but they tend not to register.
“Interestingly,” he continued, “despite considerable media focus on the “shadow rental” market, only a slim majority of respondents noted greater competition from condos and single-family rentals than in previous years.”
Here in the northwest suburbs of Chicago, the rents being asked for much of the shadow inventory continue to be completely unrealistic. So on the MLS rental listings you see the same places that were there last year, asking the same rent -- always an amount sufficient to completely cover their mortgage, tax and insurance -- still empty. One wonders how long the owners can continue in their vain hope that they'll find some sucker willing to rent from them at a monthly payment that's now much higher than what would be required to buy the same place at current selling prices (at last beginning to drop) and the currently lower mortgage interest rates.
Those houses will go into foreclosure first.
Oh, Liz, I was down on our bayfront last night and saw someone bundled up in a blanket fast asleep on the lawn - nicely pressed shirts hanging in a tree, and a suitcase. People are having an awful time.
This was in the park beside the Van Wezel performing arts center.
"Oh, Liz, I was down on our bayfront last night and saw someone bundled up in a blanket fast asleep on the lawn - nicely pressed shirts hanging in a tree, and a suitcase. People are having an awful time."
Uggh, that is awful.
About that electricity for your new Volt:
NY Times reporting on (non-radioactive) leak from deteriorating underground cooling water pipe at Indian Point 2. Not inspected since plant was built in 1973 (26 years ago).
At the Indian Point Nuclear Plant, a Pipe Leak Raises Concerns - NY Times
Our national nuclear infrastructure and, natch, regulatory oversight of same, is not in such great shape.