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"Victor Vangelakos" sort of sounds like a Bond villain.
(Development bond, that is.)
I'd avoid the shadow inventory. Its the land of bandos.
Awwww, CR, my very favorite.
The Fort Myers story is several months old. Also, the guy's wife has some criminal charges against her for some fraud in NJ where she is/was a clerk in some government office. If I had time I'd go track down the whole thing but I'm sure a little googling will turn up the whole story for those interested.
One of my clients bought in the Oasis tower which has some sales.
I told him to walk away from his 100k deposit before he went over to
closing, but he couldn't make himself do it. It's never been rented.
He stopped paying some months ago. Good luck bank.
dryfly wrote:
We don't need gasoline 'cause we're gonna have monorails powered by pony skittles.
Manned starships fueled by hopes and dreams, engines cooled by the tears of children..
Geebus, what's the problem, i'll take two at what they are worth right now.
Turns out some of the "rest of the story" on the Fort Myers condo is in the reader comments. The earliest comments are on the last page of comments. Wife was skimming parking ticket fines.
ResistanceIsFeudal wrote:
It was funny.
Look on the bright side. It created a whole bunch of man hours of employment.
Question for LL - Are there squatting rights in FL?
This makes sense then.
Real Time » Blog Archive » Condo resale pricing takes a dive, most of South Florida’s inventory listed under $250,000
About 66 percent of condominium units on the resale market in Miami-Dade, Broward and Palm Beach counties are listed for sale at prices under $250,000, according to a new report from analysts at the CondoVultures.com
Entire buildings are empty.
We should contemplate the fact the entire valuation of real estate has essentially collapsed in places like Miami.
Think about it. Entire high rises. So what would it take to fill that building? A price of $20k per unit?
The equity and the loan values have evaporated.
I now view my own mortgage as essentially rent. Why bother to do anything other than the minimum when if I get a job in another city I have to walk away?
The consequences of our real estate bubble have not yet been realized by the markets. If they were, a lot more folks would be ready to jump out of their condos- or more wisely stop paying.
LL- the second on the investment sent me a notice of foreclosure, so I called them and said send the Deed in Lieu- they REFUSED.
So, I guess that I now have an active defense, they sent a notice of foreclosure, yet they will refuse to pursue the foreclosure. I think that essentially means they have unofficially abdicated their economic position, and are abandoning their interest in the property. I wonder if I could force a quiet title action on them;-}
So much to ponder these days. 1956+65=2021 seems so far away, that eleven more years of gradual destruction of land values in real terms.
Someday this war's gonna end...
"Worth"? what is this "worth" concept.
Nobody has the slightest idea what they are worth. Except a whole
lot less than they used to be worth.
I have been predicting some will end up as homeless shelters, but what do I
know?
A client of mine is buying a townhouse condo. Tax authority has it worth 136k,
but it's a foreclosure and they are bidding 89k. I have been estimating 10% off
2009 tax appraisal value, but I'm gonna have to rethink that. Perhaps with condos
and townhouses 20-30% off taxable value?
As the sole occupant of a building it seems to me there would be all kinds of lucrative business oppurtunities available. Paint ball arena. Thunderdome. Bando hotel. Just get creative Victor.
lawyerliz wrote:
Public housing high-rises. We know how that story ends already.
Oh, yes, there certainly are. I have posted on this extensively quite
a while ago.
You have to adversely possess for 7 years and pay taxes. I've actually
quieted title for an urban squatter. The owner was dead, I'm fairly sure.
I have posted on this extensively
LL - posted on quatter rights?
Hmm... an overpaid "civil servant" loses a portion of his vast wealth gained by sucking mightily at the public teat by buying a half million dollar condo as a second home. Other than the fact that our republic is doomed, I can't think of anything...
WHAT have I been saying?
They are collapsed in certain areas. A single family
house is half off.
Nobody is financing their own REOs, and until they do,
it's death spiral time.
Thx LL
must it be a "permanent residence" or "permanent mail" location?
Doesn't sound like reality has hit for many sellers in FL yet.
Florida Real Estate Remains "On Sale" With Sellers Slashing Prices by More Than 10 Percent According to Zip Realty
Home hunters are finding deals in South Florida, with sellers in Miami and Ft. Lauderdale having reduced their list price by an average of nearly 15 percent, or $36,000 in February 2010. In addition, one out of every two "for sale" homes in Jacksonville included at least one price reduction in February, according to a monthly survey of home listings in 27 major U.S. housing markets conducted by the online real estate brokerage ZipRealty (http://www.ziprealty.com) (NASDAQ: ZIPR).
In Orlando, 47.7 percent of homes listed for sale in February included at least one price reduction, with sellers on average reducing the list price 2.39 times -- the highest of any of the 27 major housing markets that ZipRealty surveys monthly.
You say "shadow inventory."
I say overbuilding that will cripple the US economy for about 7 years unless the gov't takes a proactive role in bulldozing.
Months ago. Is there a way to retrieve what you want?
Oh, Squatter. . .
10% hunh? hahahahahahahahahahahahah
You know, here in California's ground zero for the real-estate crash I've been considering getting into real estate now. I can pick up 2 bedroom condos in the mid 30's to low 40's and rent them out for around $900/month. They're in the worst part of town and older, so they'll be expensive to maintain and rent will be a pain to collect, but its hard to see how I can lose on this deal.
The hurricane season may get some of these beauties---but, our strong building code
requires strong glass, so manybe not.
Since you and I are more rooted to the physical world, I think, you said what I meant to say.
Winston wrote:
Can't lose. Go for it.
This boomer wants to live to see how it all turns out.
there is a smaller downtown San Diego project- 70 units or so- where they finished work about 3 years ago. The contractors (I know one of them) had to fight for months and take discounts on their final payments. Three years later, sales signs still in front of it- although I did see a "builder closeout!" sign that seemed new. Irony is that the real builder has been out of existence for 2.5 years or so.
Winston wrote:
Hmm... an overpaid "civil servant" loses a portion of his vast wealth gained by sucking mightily at the public teat by buying a half million dollar condo as a second home. Other than the fact that our republic is doomed, I can't think of anything...
Sounds like an "investor" taking a "risk" and "losing". Very foreign concepts, I know, but we were much less sophisticated and educated then.
As I said before, when Russia's population drops below some inscrutable
point, the Chinese will just start walking west.
Why is the concept of negative value so hard to accept? As a condo there are pooled expenses. Without a critical mass of residents the per unit costs are untenable. And whatever bagholder is carrying the construction loans, taxes, upkeep, security, etc. of the unoccupied units is undoubtably so underwater "owning" might not mean what you think it means.
This is definitely On Topic
Eaton Vance Dumps Dirt Bonds as Florida Land Districts Default - BusinessWeek
*Thomas Metzold, Eaton Vance Corp.’s co-head of municipals, sold all his defaulted bonds of Tison’s Landing, an unfinished housing development in Jacksonville, Florida, as the debt fell to a third of face value last year.
Dumping the so-called dirt bonds at a discount was a better bet, the Boston-based Metzold said, than taking over 218 empty acres (88 hectares) from the project’s builder and waiting for a real-estate rebound that may not come until the early 2030s, according to a Moody’s Economy.com forecast.
Lord Abbett & Co., the 81-year-old mutual-fund manager in Jersey City, New Jersey, faces the same choice as Eaton Vance, with Florida community development district bonds defaulting faster than any U.S. tax-exempt debt. The two-year-old recession and the first population decline since World War II have virtually erased demand for new houses in the fourth-most- populous state, stripping value from a security dependent on incoming residents to pay investors.
“We’re managers of municipal bonds, not real estate people,” said Metzold, 51, whose company manages $161.6 billion, of which 16 percent are tax-exempt assets. “We thought about foreclosing but decided the risks were too great.”*
Winston wrote:
Then take off the blindfold.
lawyerliz wrote:
I presume it varies by state?
ARIZONA 12-522 et seq. 2 yrs. (if occupied with no claim to title) and Color of Title: 3 yrs. or 5 yrs. if city lot
NEVADA 11.070, 110, 150, 180 5 yrs. and Color of Title: 5 yrs. and Color of Title/Payment of Taxes: 5 yrs. After disability lifted: 2 yrs.
Adverse Possession laws - Information on the law about Adverse Possession - Requirements
Winston wrote:
Lots of great deals. If you want rentals, buy single family homes. Too many condos on the market. SFRs at a low price will rent, condos sit there.
Blackhalo wrote:
Yes, it varies greatly.
Never mind.
A proposed client wants to hang on to his condo for a while (he hasn't paid me).
He hasn't paid assessments for a year or so. I said wait a minute, if they make you
or a tenant more out because of garbage non-pickup, your money paid to me will be
wasted. And water. He said the garbage piling up was a problem but now it was fixed.
It seems the developer was left holding the bag for lots of units and is now renting them
out and thus paying for garbage and water for the renters.
But, the client sez, a lot of the renters aren't paying the rent either. . .
There's a certain meth odd to your madness...
The only thing cheap about condos right now is the price. Given the vacancy situation, the assessments and the potential for higher assessments are the things that will kill your NPV. $500-$1000 month assessments can really suck the life out of a condo.
If you could buy California Condors for cheap, I recommend that over condos. Condos have a glut of supply and often huge hidden holding costs. California Condors are rare and Chinese will pay alot to make omlettes out of their eggs. It would be a veritable golden condor.
Yep. I didn't mention color of title. But the concept exists here.
Juvenal Delinquent wrote:
There's a certain meth odd to your madness...
Can you write catastrophe insurance on a cooker operation?
lawyerliz wrote:
If they bring money they'll be invited in.
Condos are the last phase of the real estate cycle. And the property type to pull out of the cycle. Avoid condos like mortgage brokers and homebuilders.
Rob Dawg wrote:
And you said that without saying 'cenurb' once - cool.
What's the name of that ruling/condo ownership structure in CA that makes some homeowners jointly and severly responsible for all costs associated with the condo developement?
Condos full of old people are the only ones I'd buy now. I represent a couple of small
condos in Hialeah that have been there forever and they each have only 1 or 2 foreclosures.
So, it depends.
hopeinsd wrote:
Development of the same size in Santa Cruz; of the ~12 that sold, most were "affordable" units. Otherwise empty; more liens than a horseshoe tourney. Managing partner is "out," someone else is "in," they're raising immediate cash by renting out the units -- got top dollar, too, they're pretty nice and local rental stock sucks -- and working towards giving title to individual units to various creditors and lienholders including the city.
Sounds like someone there has some brains.
I have an actually closing for a waterview condo which is still selling for a
quite high price. To a ferriner.
Elvis wrote:
And the last phase to pull out of the cycle. Avoid condos like mortgage brokers and homebuilders.
Pull out! Pull out! Sorry, too late...
I confess to not having strong opinions on it still, but I'm thinking the cooperative structure is better for glorified apartment buildings rather than the condo ownership structure.
Elvis wrote:
Respectfully, but seriously: Condo-tels -- the buying of a hotel room that is leased out by a management company on the owners behalf but that the owner can use for a percentage of time per year (e.g. every Tuesday and the 3rd Wednesday of months that start with the letters O and F) are the last phase of a real-estate cycle.
Plain-vanilla condos (and conversions) are about 2-3 years from the peak.
I remember hearing on NPR a few years back that about half of burn victims admitted to emergency hospital rooms or clinics were as a result of things that went boom, whilst cooking up trouble...
ResistanceIsFeudal wrote:
ResistanceIsFeudal wrote:
If the pull out method doesn't work, there is always the push down the stairs method.
Ed S. wrote:
Last phase of a real estate bubble.
Ed S. wrote:
Everything that's old is knew again.
Juvenal Delinquent wrote:
I remember hearing on NPR a few years back that about half of burn victims admitted to emergency hospital rooms or clinics were as a result of things that went boom, whilst cooking up trouble...
Sounds like we are thwarting nature's rude but effective meth-od of solving the problem...
Hmmmmm, hmmmm, hmmmm...
Darwin awards.
How are you sconsie?
Remember in Rocky II when Rocky Balboa didn't want to invest in condos because he thought they were condoms. Well, let's just call vacant condos "used condoms" hereforthwith. Do you want to buy them now Winston?
lawyerliz wrote:
Happy, happy, happy!
lawyerliz wrote:
Darwin rewards.
Must save the mightly yapstone!
Back in the 80s farm crisis rustbelt-II bust... in northern Minnesota, counties just gave people land [land they had taken back from tax forfeitures] via homesteading... just like 1880s immigrants... show up, pay minimal taxes [property wasn't worth squat at the time], improve the place and most importantly INHABIT the site... and five years later its yours free and clear no questions asked. You can keep it or sell it or rent it - whatever.
But for five years it was a bet you couldn't make it - surprisingly it is prolly easier to do in Northern Minnesota than in Miami without a good job but still not easy anywhere.
Oh and the county had already cleared title so it wasn't like squatting & adverse possession where you could get tossed at the last minute - once you moved in & county signed off - it was just wait five years and the title was yours [from county to you].
They might need to do that in Miami.
Elvis plz dont ask for a :condom: icon
So it is Spring Break here in Panama City. We have lots of college students partaking in spending lots of money. So what do our fabulous Bible Thumping imbeciles do today on the beach? Set up an an Anti abortion rally on the strip complete with life sized fetuses with their heads cut off and blood dripping from them. Brilliant! We don't need any business here, Jeebus will feed us all.
Barley wrote:
OK. Will you please? Is there a bulldozer icon yet? Not big on using icons, because I prefer to use colorful language versus pictures.
dryfly - You could set up a Cuba to FL or a Mexico to F Ltravel agency . Get them settled w/ the county's help and presto...no more empty condos
Comrade Kristina wrote:
We don't need any business here, Jeebus will feed us all.
Only the banks can do the miracle of loaves and fishes now... they'll feed 5000 with the resources of 5, levered 1000:1 on sure bets like housing appreciation and the Euro.
dryfly wrote:
They'd have to give you Kevlar, too.
Elvis I'm not big on icons either. So lets keep the condom thing quiet.
Barley wrote:
Deal.
*they'll feed 5000 with the resources of 5, levered 1000:1 on sure bets like housing appreciation and the Euro. *
and a taxpayer backstop should they come up short
Comrade Kristina wrote:
Is that life adult sized or life fetus sized? Whose blood do they use?
gotta run later...
Barley wrote:
and a taxpayer backstop should they come up short
We call that "The Lords' little secret". Well, that and something else
Elvis wrote:
I bet they use manatee blood. Bastards.
I remember an old Playboy cartoon where this lounge lizard says to the pneumatic female: "how'd you like a condom-in-yum?"
Loaves and Fishes - the allegory of fractional lending.
I'll have another belt of religion barkeep, on the rocks.
I'd like to belt them upside their empty little heads....GRRRR
Comrade Kristina wrote:
Try turning the other cheek - that'll surprise the
out of them.
Comrade Kristina wrote:
I thought they were headless fetuses.
dryfly wrote:
I am so misunderstood on some issues. The common thread in bubble obsoleted dwelling units has to do with rapid increases in local supply more than anything. That criteria is blind to any measure of the degree of urbanization. Condos are one way to dump lots of new supply in a small space in a short time. Generic high density cookie cutter suburbs are another. Both are suffering from the disease.
LL
Ferriner, thats me, a french last name in the hills of Tn. Been call ferriner lots of times.
Black halo, the chart which you linked is out of date as to adverse possession in Idaho. As of at least a year or so ago, in Idaho the minimum period became 20 years. (Yes, the statute actually increased from 5 years to 20 years.)
brianinboise wrote:
Open and notorious living is against The Bando's Way.
brianinboise wrote:
Definitely makes a good bear market call for ID RE 4 me
the Frumious Bandosnatch?
Missing energy exec found dead in New Orleans
| Reuters
Natural gas foul play?
Oxtail wrote:
Natural gas foul play?
There is much that is foul in natural gas...
yagij wrote:
No reason to retire to Idaho now that Florida is cheaper.
Comrade Kristina, that's an interesting story. Was down there for New Years (although I opted out of the SW Airlines sponsored beach ball drop - a crowd going wild for a .09 cent plastic inflatable is not my thing) and wondered where is "the strip," relative to Pier Park? Please say the protesters left Five Guys alone.
AUlogy, a pious plea to buy gold (usually delivered in 30 or 60 seconds.)
Lots of people here in Taos bought a 1/4 acre of land at a tax auction and then fenced in 10 acres around them..they now own the 10 acres after 10 years.
And by an amazing coincidence, I now have a gold ad on the page. Someday, everyone will blog about everything all the time, and live off ads!
DeeperDepression wrote:
It would have been more lucrative to steal paintings from some of the more famous artists than their land.
The advertising mavens see me as more of a penny stock player...
FT.com / Mergermarket - Mortgage investors push for banks to write down second liens
most decade advertisers are pretty good at the art of selling.
Mineral rights ?
In about 5 years they will have a reality gameshow called "Survive A Night in a Miami Condo." The winner will get two buckets of rice and a handgun. The losers will be dead.
Rob Dawg wrote:
Jus' hrassin' ya dawg.
"That sounds like another 480 vacant units. "
"Nothing price can't fix". Does anybody see the *positive *economic benefit of people buying these units at fire sale prices? Even TPTB stand to gain in the medium run (3~10 years) if they can free up disposable personal income so a few people can start spending wantonly. Yes, they will have to throw a few friends (smaller banks) into the volcano but that's a worthy compromise with the existing power structure to leave their framework in place while giving something back to the real economy. Whats one or two partners owning a tower vs. 480 new homeowners... one rich person cannot have the multiplier of 480 middle class workers?
SPOOL wrote:
If I remember right, mineral rights generally remain with the state when a deed in given due to adverse possession. Probably depends on the state. If you want to adversely possess mineral rights, you need to rob a gold dealer.
double inverse recession wrote:
The problem is it will be 408 gang bangers.
scone wrote:
I remember when we were all meant to live in cyberspace, and I thought "So who's going to deliver the pizzas?"
Elvis wrote:
Mineral rights are usually sold separately anyway - surface owners might not even know as the mineral rights under them change hands.
Elvis wrote:
And 72 frightened retirees.
Elvis wrote:
do they pay the mortgage?
lawyerliz wrote:
lawyerliz, how are tax authorities treating appraisal valuations with foreclosure prices in the picture where you practice? In Texas, they have an especially nasty surprise waiting for knife catchers: a foreclosure price is considered an anomalous data point, and county clerks ignore the foreclosure price, keeping the tax basis the same as before the foreclosure. At best, you'll get adjusted down to the foreclosure pricing as the tax basis, then the county automatically steps up the basis by 10% each year until the original basis is reached (in about 7 years). Property taxes where I live are 2.74%, so on a typical $500K wishing price for an urban 3/2 1500 sf SFR in the major metros of Texas the property taxes alone are $1,141 per month. About half of rent for an equivalent property. Toss in all of PITI + maintenance, and you are easily paying 2.5-3.0X more per month on a 20% down 30-year 5.0% fixed rate mortgage versus renting. While we can easily afford that, our household income is in the top 5%, and way more than 5% of the listings around here are in that wishing price range and up. This can only end in tears. Supply, may I introduce you to demand?
double inverse recession wrote:
I can!
It drives down rental prices!
Puts Lobbyist Ben Dover and sm_landlord underwater on their units and on the street!
Whoo hooo, price fixes everything!
Bubblisimo Gerkinov wrote:
Those without a fast ISP?
The "Strip" is up by the big clubs on Thomas Drive. Usually the first thing the Breakers see when they get here. Yeah, the beach ball drop was pretty hokey.
dryfly wrote:
Owning the surface without the mineral rights is like owning the car but not the steering wheel.
broward wrote:
And Hobbyist Ken Rover and bd_seaserf into affordability on their mortgages and into a home!
Comrade Kristina wrote:
Do they do turkeys on Thanksgiving?
Bubblisimo Gerkinov wrote:
Hiro Protagonist, of course.
Hiro Protagonist - Discussion and Encyclopedia Article. Who is Hiro Protagonist? What is Hiro Protagonist? Where is Hiro Protagonist? Definition of Hiro Protagonist. Meaning of Hiro Protagonist.
Elvis wrote:
Happens all the time out west - lots of unhappy 'land owners' in Wyoming found the gas rights under them belong to somebody else... and now with directional drilling they don't even get access fees to drill on the land.
ResistanceIsFeudal wrote:
Ever read "The God Engines"?
Not an exact match, but your words made me flash on it.
Bubblisimo Gerkinov wrote:
Ooh! Ooh! I will! Pizza for everybody!
The fireworks display was great, though. Both of them.
Scone for President!
dryfly wrote:
The underclass ... we'd have to call them the 'outdoorsies' or the 'fresh-airies'.
dryfly wrote:
I know it happens. However, it is better to have directional drilling than to have oil and gas wells littering your property. $10,000.00 for surface damages isn't really worth it.
dryfly wrote:
Developers who don't own mineral rights have to pay oil companies hundreds of thousands of dollars, so they do directional drilling instead of ruining developable land (complete with undevelopable buffers). Made sense at bubble prices. Now it is often money wasted.
Elvis wrote:
Fully agree - just pointing out how the two [mineral & surface] are not the same. People - even locals who should know better - sometimes confuse that.
Comrade Kristina wrote:
Nooooooooooo! Happy Scone doesn't want dreary sad job.
CondoVultures.com. (sic)
If you don't pay the fees they pick out your liver?
Bond Mingealante, wimpy fixed income purchasers who’ve sat in 2% five year notes during the bull rally of a generation.
Rob Dawg wrote:
It's one crime to condofy expensive land to make a development on overpriced real estate pencil out.
It's an even worse crime to condofy cheap land just to profit from the density, to the detriment of the future inhabitants.
And by condofy, I mean to include the "townhouse" and zero-lot-line McCookieCutters.
YouTube - Vertigo Mel Brookes "High Anxiety"
and live off ads!
So that's why I'm receiving multiple spams inviting me to marry a Russian woman and purchase shares in a beefsteak mine in Mongolia.
Boward,
Might be a problem for my kids not me. Buy right pay cash and under water means little except property tax goes down.
scone wrote:
11 million U3s agree with scone.
I'd be interested to know what sector your CTO interview was for.
sm_landlord wrote:
It never ceased to amaze me looking at the Antelope Valley and seeing them using 16DU/acre zoning for hundreds of acres. We'll be cleaning that mess up for decades. Horizontal Cabrini Greens.
broward wrote:
Unfortunately, more and more jobs will probably become dreary and sad as long as U3,6,N stays high.
No motivation to make the jobs pleasant if 10 people are in line for every opening.
We'll be cleaning that mess up for decades.
That's the idea - not them, you.
bANK fAILURE wrote:
It was a mistake.
I thought it was for a CTO position that's pending because of the sender's name and first sentence.
It's for a small gov't group of perhaps 10-20 people in WA at a 25% pay cut.
As a matter of fact, cleaning up other people's messes applies to more than one situation we know of.
Apparently, being infantile is good business.
pavel.chichikov wrote:
Statistical inference techniques know you better than you know yourself...
So that's why I'm receiving multiple spams inviting me to marry a Russian woman and purchase shares in a beefsteak mine in Mongolia.
Rob Dawg wrote:
Almost like pre-demolished towers...
First reaction: What were they thinking?
Second reaction: Those B**tards!
Statistical inference techniques know you better than you know yourself...
I'm already married, but I'm off to Mongolia in the morning to visit the property.
pavel.chichikov wrote:
Apparently, being infantile is good business.
Persuading others to be infantile is definitely good business.
broward wrote:
The pay cuts will continue until the productivity improves? [ducks]
OT: Everyone here talks about credit and credit regulation. I wonder if you guys are aware of the push being made by the Mainstreetbrigade.org with their Funny or Die videos. Major/minor celebrities are doing anti-credit comedic videos. It seems like a strange push towards the mainstream for bankster repudiation by none other than Elizabeth Warren and Rick Rhodes. Her name appears second in the credits. Maybe this is what she means by "sound and fury" remarks.
*Those B**tards!*
A phrase that goes back to the Paleolithic, when it was used to name the tribe across the river.
pavel.chichikov wrote:
but I'm off to Mongolia in the morning to visit the property.
I understand. Raising yaks for their milk has a strange appeal to me for some reason...
edit: Yak, the Mongolian
Inner Mongolia, or Outer Mongolia?
What exit do you take...
Feds going after old guys now because they think they're easy prey.
Defaulted Loans May Haunt Seniors - Democratic Underground
What's scary than a black ex-con with a gun?
An unemployed white guy with a plane!
Before heading off to Mongolia...
'Mongolia is currently experiencing weather that is even unheard of for that extreme part of the world.
So far, 1.5 million goats, 950 thousand sheep, 170 thousand cows, 90 thousand horses and 1500 camels have frozen to death.'
pavel.chichikov wrote:
Be sure to see the Ulaan-Baatar Philharmonic perform -- that is, if they haven't already moved the yurt ...
Vonbek777 wrote:
'Mongolia is currently experiencing weather that is even unheard of for that extreme part of the world.
So far, 1.5 million goats, 950 thousand sheep, 170 thousand cows, 90 thousand horses and 1500 camels have frozen to death.'
Sad. (seriously). Where is a taun-taun when you need one?
.
broward wrote:
Copycats. I've been robbing old people for years.
whats funny or die?.
The fucking
Goldman Sachs Group Inc (GS.N) was sued on Monday by a large union pension fund that accused the Wall Street investment bank of overpaying its executives. The International Brotherhood of Electric Workers fund filed the lawsuit in Delaware Chancery Court, seeking to recover money for the company on behalf of other shareholders.
It seeks to stop Goldman from allocating roughly 47 percent of 2009 net revenue as compensation, saying such allocations "vastly overcompensate management and constitute corporate waste." The lawsuit also wants Chief Executive Lloyd Blankfein and others in management, rather than shareholders, to be responsible for charitable contributions that Goldman is making as a an apology for its activities.
Yeah hope International Brotherhood of Electric Workers wins case then they can tie in water boy for
Timmy, BB, and rest of asslcown Obama economic team that may be in collusion 
Apparently they have had some -50C nights. Don't know what the human stats are, but it has been a tough winter.
SPOOL wrote:
Maybe you could flip a yurt or two.
Vonbek777 wrote:
It's the camels that really gets to me. Double humped, no less. Doubling humping is my favorite.
I really don't know much about Mongolia except I've read that there is an exceptionally bad alcoholism problem there, and that the drunks can be surly and aggressive.
As for spam, though, I have been receiving lots of spam inviting me to take English lessons (learn English the easy way), or meet Russian women.
My wife gets business propositions purporting to come from China, or web design ads.
after Econned from Yves Smith, when does the third round of books about the "Crisis" come out?
Apparently we should be studying the Chinese model for real estate development. They have empty towers as well. But they don't see it as a problem.
A spokesman for Goldman Sachs said the lawsuit was "completely without merit," which is how most Americans would describe the compensation the executives received for nearly running the U.S. economy into the ground.
I wouldn't mind being The Doctor's Companion, however.
I really don't know much about Mongolia except I've read that there is an exceptionally bad alcoholism problem there, and that the drunks can be surly and aggressive
Dont try and kid yourself, Yu knows Hu is in a really significant housing bubble.
This is something you have to work hard to achieve.
Lend America, VP Ashley Banned from FHA « HousingWire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Hey kcoop! We've got a spammer! Spam alert! Fweep! Fweep! FweeP!
Vacant politicians are blight, too.
And then there is the
from sellers too cheap to buy ads. (two up)
"Doubling humping is my favorite."
I didn't know had been to jail Elvis?
Mongolia: Nomads Face Hunger Crisis
This video is from early February, from what I understand, the situation is worse now.
The USA is at tipping point
Option A
continued Plutocracy cycle in America
http://i173.photobucket.com/albums/w50/alix2304/charts%20II/largeextremeinequalitychart-1-1.jpg
Option B
Americans remain complacent
Option C
poic wrote:
Just like more than one girl at a time.
Silver Spring, Md., just up the street from us, has been almost smothered by very large condo apartment buildings.There is a Metro station nearby, which could draw some buyers. It's about fifteen minutes by train to central DC. But otherwise it's going to cause stifling congestion.
poic wrote:
Hello ... "Jailhouse Rock".
Those are terrible scenes in that video.
pavel.chichikov wrote:
Silver Spring, Md., just up the street from us, has been almost smothered by very large condo apartment buildings
Urban blight 1, sustainability 0
Indeed Pavel. Pain and suffering abound.
Vonbek777 wrote:
not even pretending they were 
banksters makes that go away. Ah, to be a psychopathic billionaire.
This video is from early February, from what I understand, the situation is worse now.
Precisely one year ago, Mrs. Anak and I took a look at some condos on the outskirts of Zhongshan, a Chinese burg about 1.5 hours ferry ride from HK. There were loads of supply for sale and rent, and monthly rents were about 1/400 of the sale price. Lotsa see through buildings, and even accounting for HK folks using them as golf pads for weekend use, I’d estimate about a quarter were actually furnished and occupied.
We were not interested at USD 320 per sq ft. to either live in or rent out, and it seemed to me they were in the throes of a bust (March ’09, remember).
Over the ensuing year, those cubes of cement in the sky have gone up some 60% to 520 per sq ft. I doubt rents have budged.
I don’t scratch my head anymore since I’m losing my hair enough anyway.
sm_landlord wrote:
We got an app for that...
I couldn't watch it. It makes me physically ill.
Comrade Kristina wrote:
I couldn't watch it. It makes me physically ill.
You just aren't cut out for serving the New World Order. Neither am I, sadly. Ah well...
ghostfaceinvestah wrote:
The local paper emphasized that he was banned from doing any business that touched FHA, FNM, FRE or any other govt mortgage program. So - if a private lender were so inclined they could hire Mr Ashley to work for them.
"Ashley, 44, of Melville, the firm's executive vice president and public face, did not admit liability, according to the agreement filed Wednesday in federal court in Central Islip.
In return, anything tied to federal-related loans is off limits -- from appraising properties and marketing mortgages to working as a consultant or housing counselor.
"I'm beyond thrilled to be done with the mortgage business," Ashley said Monday. "I've had it with the mortgage business. I'm done with everybody chasing me around."
Hoopajoobs:
Congratulation on getting some cases.
Don't worry too much about it. A very high percentages of my pro se/per pro library users were able to wrap up their probate cases by going through the resources in my collections.
Here is my suggested reading list:
How to Probate an estate in California.
Yes, it's a Nolo Press book, but everyone have to start somewhere.
CEB Action Guide: How to handle a probate
It's a very streamlined no-nonsense guide to work through the procedure.
California Probate Paralegal
Please don't feel insulted for my suggestion of a paralegal book. For attorneys who are new to a practice area, paralegal titles offer a lot of tips for court rules and document preparation.
Rutter California Practice Guide : Probate
The gold standard for probate practitioners in California.
Those titles takes cares for people with most common run-out-of-mill probates. But if you want to study further to make sure:
California Descendant Estate Practice
California Probate Procedure
California Probate Workflow Manual
California Trust and Probate Litigation
Since every county law libraries' collection is slightly different, I am not sure you will have access to every title on the list, but those are pretty common titles, so you should at least have access to most of them in your local county law library.
Good Luck!
I can actually believe that anecdote.
Hu can surely save the California probates?
:liz happy dance:
its not hoopajoobs, its hoopajoops LTD, not that Im paying attention.
broward wrote:
Snow Crash rocked
pavel.chichikov wrote:
My understanding is that more than a few of the names we gave indian tribes were the derogatory terms other tribes gave them and we 'westernized'... For example the 'Sioux' prefer to be called 'Dakota' [or by their specific band - like Oglala, Hunkpapa, Mdwaketon, Lakota - etc.]... Sioux was the name the Ojibway called them and supposedly not very nice. French traders picked up on it and it took.
That is the folklore anyway.
Kanchou - Thanks so much. I'm writing down your recommendations.
Man, I love this community.
America, see your future.
Japanese Machinery Orders Declined 3.7% in January (Update1) - Bloomberg.com
ghostfaceinvestah wrote:
Thankfully I've studied Japanese Tea Ceremony and Japanese Calligraphy. Gotta do something with all that free time...
I like Japanese banks that end in Brothers.
I just came across this today, sorry if it is a re post.
How a New Jobless Era Will Transform America - Magazine - The Atlantic
Depressing stuff.
dryfly wrote:
Eskimo
ghostfaceinvestah wrote:
Whooopie! We'll be making machines in America in our future!
Bubblisimo Gerkinov wrote:
From Cree - yes/no? Or Assiniboine?
dryfly wrote:
Siem Reap
Comrade Kristina wrote:
More good The Atlantic
reading! Thanks! 
energy left, check out the Times Online (UK) about men needed to take on the welfare Amazons 
.
Edit: I've already read this article. Now I'm all depressed.
.
If you got time and
dryfly wrote:
Could be ... as I understand it, some eastern tribe's name for northern people. It means meat eaters.
Sorry yagij, I only caught it because I saw the author being interviewed on CNN this morning or maybe it was MSNBC. The Atlantic does have some great articles.
yagij wrote:
that's OK, I'm diggin' your tile!
energyecon wrote:
One of my favorites.
Bubblisimo Gerkinov wrote:
I thought it was Cree... just for trivia sake.
Eskimo - Wikipedia, the free encyclopedia
dryfly wrote:
Algonquian, which includes Cree ... according to wikipedia.
Algonquian languages - Wikipedia, the free encyclopedia
When Dustin Hoffman was hanging out with an Indian tribe in the movie Little Big Man, how did they translate the tribal term meaning their own tribe? "Human Beings" I think.
Anak wrote:
That's universal. The Other is always those other guys over there. We are "the human beings." Chimps do the same thing, it's a primate impulse.
So assuming that Mongolian herdsmen are not all moving to vacant Florida condos, and we are now off-topic...
In 8 of 9 tasks that were studied, higher incentives led to poorer performance.
Dan Pink on the surprising science of motivation | Video on TED.com
Holy shit. Oh, and research sponsored by Federal Reserve, of all people.
Anak wrote:
They were Dakota I believe either that or Northern Cheyenne - those were the two tribes that allied to take down Custer at Little Bighorn [also part of the movie].
Jonathan wrote:
Holy shit. Oh, and research sponsored by Federal Reserve, of all people.
No surprise there... in socialized private bank risk-taking, the poorer the performance, the higher the incentive! Moral hazard writ large.
Chief Dan George ... hell of an actor.
Bubblisimo Gerkinov wrote:
Isn't he the old man who said... "It's a good day to die."
dryfly, just curious, is there any area of human knowledge that you simply deem not worthy of your time and interest? Seriously.
dryfly wrote:
Yup.
dryfly wrote:
These days a lot of people wake up saying that ....
He was the wise old indian in a lot of dusters ... and The Beachcombers.
Bubblisimo Gerkinov wrote:
Other great lines from him...
My friends & I still laugh over that one.
ResistanceIsFeudal wrote:
You are literally correct. Towards the end of the this thread:
WaPo on Unemployment Benefits | Hoocoodanode?
we had somewhat of a discussion on motivations, with some interesting stuff from RE especially.
The TED talk Dan Pink on the surprising science of motivation | Video on TED.com by Daniel Pink substantially echoes my thoughts. Only mechanical tasks are incented by money. Knowledge tasks are only performed well when the person performing the task is self-motivated.
On the wider issue, this video makes a nonsense of the ridiculous CEO rewards that cronies on boards of directors have looted from the system over the years.
Who can forget, "Endeavor to persevere..."?
Jonathan wrote:
That was a fascinating discussion.
if you do nothing else in the next 30 days
please listen to the interview of david walker
"x" comptroller general of the USA, ...a man who has worked in both dem and repub administrations
on the npr show "fresh air'" with terry gross
his call to arms..financially speaking, may be our last chance
he speaks the truth without regard to left or right
After Financial Ruin, Plotting America's 'Comeback' : NPR
ps
no, no, no, you may not listen to the story, from yesterday about the dominatrix until you first listen to walker, ok?
mock turtle wrote:
Remember, the safe word is "slumdog."
Rob Dawg wrote:
Slumdog, the patron saint of
Victor's condo looks like one of those places that should be rated "R."
sm_landlord wrote:
It was and continues to be a conspiracy of greedy developers and councilmen enabled by urban planner fads. The logic, is on the surface, uncontroversial. Compact cities save open space, reduce infrastructure costs, etc, etc. The date belie the assumptions and thus we get disasters like Palmcaster and all the guilty claiming "hoocoodanode?"
yagij wrote:
Slumdog, the patron saint of
Seriously it's uncanny. He should sell himself as a contrarian gold indicator. Or I should start selling short when he posts here frequently in the same day. Or something.
Today is a good day to die.
Well, hell, I guess it is not yet time.
What more does anybody need to think other than, it was not today.
A near 80 year old friend of the family just passed away from cancer, he didn't tell us he was going. Just got an email from his wife. He was still skiing last year. I will ski next week in his honor. Might as well go and have fun in the snow. This financial crisis will past, and be replaced by the next. But your life is finite, so go and live it.
Someday this war's gonna end...
ResistanceIsFeudal wrote:
That's why he's the safe word. But enough of that. I am remiss. A week late:
A big shout out to Dryfly celebrating 5 years of posting to CR.
Citizen AllenM wrote:
This financial crisis will past, and be replaced by the next. But your life is finite, so go and live it.
Human nature forever binds us to the cycle of births and deaths. Money is a bet against the inevitability of natural processes.
Rob Dawg wrote in reply 8:21 pm
to
mock turtle who said, no, no, no, you may not listen to the story, from yesterday about the dominatrix until you first listen to walker, ok?
...
Remember, the safe word is "slumdog."
...
however if one prefers the high wire act without a net... then there is no safe word
i think thats were we are now?
Rob Dawg wrote:
Yeah, a few weeks longer than CR's profile!
Rob Dawg, thanks for clue-ing us in
dryfly....congrats and best wishes!
Interesting interview with David Walker, former comptroller general, on Fresh Air.
NPR Media Player
Oops, mock turtle already has this covered.
mock turtle wrote:
David Walker is a good man on a good mission.
Mr Slippery wrote:
mock turtle wrote:
David Walker is a good man on a suicide mission.
ResistanceIsFeudal wrote:
Money is frozen time.
I agree with Warren that dollars are simply coupons for future consumption. He has more than he could ever use. So now what becomes the question for the rest of us. What happens when the coupons are not worth what we thought they should be?
We are living through another change like the 70s.
Someday this war's gonna end...
Thanks CK,
I'd seen it before but not read through. There's parts I disagree with, but one part that seems scary is the 'Detroitization' (Drugs, Dealers, Decay) of formerly functional cities and neighborhoods.
sm_landlord wrote:
For me, it was a rare engagement and sanity check on career matters, which is valuable personally since I interview so infrequently, and for which I'm extremely grateful. Thanks to all.
Elvis wrote:
Nat Gas is in the $4.50 range. It is sooo worth it.
It that $900 / month current? You might as well assume a healthy haircut on current rents. Anyone that thinks the shadow inventory is only impacting sale prices is missing half the story...it might not pencil at next years rent.