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2005 Apr 11, 5:00pm 199,375 views 117,730 comments
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Germany is an exception I guess, maybe France too.
Japan is still hella expensive, 20+ years into their crash, with very marginal (for Tokyo) subdivision land with minimal utility service going for $1M an acre.
Both had their bubble...and wont repeat the mistake... as far as Japan, the high cost has driven job losses moving jobs overseas. Too expensive to design and manufacture in Japan/ You wont see "Made in Japan" anymore.
Is we learning yet?
might one day... when we find realtors spiking prices....
Ontario moves to protect consumer in real estate deals
Ontario’s consumer services minister is moving to outlaw “phantom offers†and boost home sellers’ ability to negotiate a la carte payments for services rendered by realtors.
The proposed legislation, which realtors say is really just a repeat of protections that already exist in Real Estate Council of Ontario (RECO) regulations, would also step up prohibitions against so-called “phantom bids.â€
All offers on a property would have to be presented in writing, rather than just verbally, so that bidders and their agents would have hard proof of the real competition they face for a property. The listing agent would be required to keep a record of each offer in case there are complaints later from losing bidders.
Some realtors have called for greater transparency in the bidding process, one citing a case last year where her clients bid $90,000 over the asking pricebid $90,000 over the asking price on a nearly million dollar home, under the impression there were other bids. When their agent found out later they were alone, the sellers agreed to accept $45,000 instead.
where the fuck were you?
Working on a very very long Merger and Integration project at work.
Its done now! Thank god ! Im not the young guy I was once...
Strategist
2014 May 11, 11:03am
where the fuck were you?
Working on a very very long Merger and Integration project at work.
Its done now! Thank god ! Im not the young guy I was once...
LOL. You know how your comments can be interpreted?
I was working on having sex with the secretary, but the damn viagra took a long time to work, and "Its done now! Thank god ! Im not the young guy I was once..."
LOL. You know how your comments can be interpreted?
I was working on having sex with the secretary,
LOL! ah.. if only!
Bellingham Bill
2014 May 11, 11:38am
Too expensive to design and manufacture in Japan/ You wont see "Made in Japan" anymore
http://research.stlouisfed.org/fred2/series/XTEXVA01JPM664S
or in real dollars:
The downfall of "Made in Japan". Welcome to the global supply chain.
Not even your former employer can claim.. "Made In Cupertino"...
or in real dollars:
in any graph, there is no clearity to source and final assembly...
its all global, not country of incorporation.
Bellingham Bill
2014 May 11, 11:56am
Not even your former employer can claim.. "Made In Cupertino"
Never was, even the Fremont factories were glorified final assemblies, all the parts were really made in SE Asia and Japan.
But it is true that Japanese labor can't compete all that well with Chinese, since Chinese still do a day of factory work for an hour of Japan's factory wage.
Twenty-one-year-old Bai Yaojie, a Foxconn worker, says he isn’t impressed. “Sure, wages are higher here than in my hometown, but I have friends and family back there,†says Bai, a native of Gansu province who earns more than 2,000 yuan a month.
100 yuan a day = 1600 yen / hr, about the factory hourly wage in Japan if you count their non-permanent labor force.
Back when the yen was 300 to the dollar, the Japanese were working for peanuts like the Chinese are now.
Bellingham Bill
2014 May 11, 12:00pm
there is no clearity to source and final assembly...
certainly; one would have a very hard time finding imported goods in Akihabara in the 1990s when I was there.
http://research.stlouisfed.org/fred2/series/XTIMVA01JPQ188S
imports quadrupling in 20 years.
KCAL9’s Bobby Kaple reports that Sen. Mark DeSaulnier, D-Concord, introduced a bill to test out the vehicle miles traveled (VMT) tax because the state’s gas tax was no longer bringing in the revenue it used to due to people driving more fuel efficient vehicles.
Everyone wants to live here. No one wants to live or move anywhere else.
Every wonder why so many have left already ???
We already pay for roads with the hundreds of other taxes we pay.
No you didnt... your paying for the State Employees salary and retire and the other extreme ... paying for illegal aliens ( aka Foreign Citizens).Perhaps we should sent the bill to Mexico and have them pay for their citizens.
Never was, even the Fremont factories were glorified final assemblies, all the parts were really made in SE Asia and Japan.
After 1985. Make no doubt about much of the mfg be it hard drives or motherboards to chips were made in the Santa Clara in the 80s and later in Colorado in the 90s. I know, I audited them back then when I worked at Arthur Young.
But it is true that Japanese labor can't compete all that well with Chinese, since Chinese still do a day of factory work for an hour of Japan's factory wage.
Maybe or maybe not. China is doing what Japan did as many thought the Japanese had lower wages. But in reality it was selling and dumping products below costs just to drive the competition out of business. China is big in dumping below its own cost to mfg. Why do it if your costs are already lower ? or are they !!!
Sometimes the yield is so bad... it costs more. Cost Absorption on spoilage. Will be fun as the Accounting Scandals surface from Chinese
companies in the not to distant future.
deepcgi
2014 May 11, 1:22pm
Keep tapping your heels together and saying "It's not the Fed. It's not the Fed. It's not the Fed." Eventually, you'll find yourself in Kansas. Yep, fly-over country. Sorry about that part.
claims Canadians pay 20-30% in tax, compared to 12-30% in the US (married couples with kids and a mortgage do have very low taxes here in the US).
Wiki doesn't i(and really can't) include state income taxes even almost all states have them. Or the fact schools, fire, and police in Canada are included in the 20-30% instead of paid out of property taxes. Or health care is paid out of the 20-30%. Paying the average 18-22,000 (depending on your news source) a year in health insurance for a family of 4 knocks the shit out of your tax savings in the US for the average wage of 44k. Or universities are subsidized and much cheaper. It's not a direct comparison.
What's happening in Canada is that their market is sort of like the California and New York markets: There is a lot of it being propped up by foreign investment. Basically there is no such thing as a never-ending bubble and some level of a rational market will ultimately prevail.
Never was, even the Fremont factories were glorified final assemblies, all the parts were really made in SE Asia and Japan.
Ironically some of the "most American" cars ands trucks are Japanese brands. The Avalon, Camry, Accord, Tundra are all vehicles with as high as 75-80% domestically produced content. My Tacoma truck which was made in Fremont is about 60% domestically produced content.
bubblesitter
2014 May 12, 1:39am
So, are you saying that USA market will go bust in 2017 but Canadian market will never crash? No prediction for Canadian market crash?
Who gave George and the original citizen's militia the right to take you good loyalists citizenship away from the King (Queen) ??? Yet, you.....as well as we.....call him, in all reverence, the "Father of our Country".
If grown me with guns stopping cars scare you......don't go out on the highway. They're out there everyday.....scared little boys, picked on in school, now trying to get even.......and make a name for themselves for career advancement. The more of you they either put away or kill........the higher their rank, the higher their pay.
Personally, I prefer a cattleman or ordinary people to be armed. Their income isn't normally a motivating factor like it is with over zealous little boy cops. And before you reply.....admit you rarely get out of the house (apartment) beyond your very small comfort zone. Me..........47 states so far. Color be damned. It's the uniforms that scare hell outta me. Let them give up their guns.....if you contend I don't need mine. I may need mine. The new "George" might just call on a few good citizens.........to emulate the originals. It's high time we take the Neanderthal blood sacrificers out of our government and their leeching, greedy hands out of our national treasury.
Then Neanderthal's demise need be final.
People overseas I've talked to about it think American suburban sprawl is
horrifying and can't believe we allow it.
Suburbia is unavoidable in united states. For example in SFBA, do u really believe that we can fit everyone either in S.F or san jose? It will be a nightmare, as congested as Panama City, Panama.
Heraclitusstudent
2014 May 12, 3:48am
The land value is because Australia and Canada and others have chosen to not embrace American style endless suburban sprawl.
It's not about what type of housing. It's about not building enough to meet the demand. If the supply was as large as the demand, prices *couldn't* go up more than inflation.
If you want to stop sprawl, you have to find a way to build enough apartments in cities. Clearly this is not happening.
There's nothing evil, it's a societal choice that they are willing to pay for. The extra cost in housing is heavily offset by not having to extend expensive services, (water, sewer, electric, trash, roads, police, etc., etc.) endlessly.
It is evil, as unaffordable housing forces 30 yrs old people to live with their parents, forces young couple with kids in 1 brd apartments, etc...
This is hugely detrimental to quality of life.
And all this for what?
This is not about sprawl.
And any economic gains are short term.
zzyzzx
2014 May 12, 4:22am
And they want more taxes? Over my dead body!
They might tax that too....
Don't give them any more ideas!!!
It's not about what type of housing. It's about not building enough to meet the demand. If the supply was as large as the demand, prices *couldn't* go up more than inflation.
If you want to stop sprawl, you have to find a way to build enough apartments in cities. Clearly this is not happening
Developers build what will sell. If that is high end condos instead of low end apartments then that's the price of living in a free market. Are you advocating having government decide what housing will be built and where? That didn't work out very well in eastern europe and russia at all.
There are lots of cities with tons of apartments, I lived in Oklahoma City which has always had one of the lowest apartment occupancy rates in the country and it sprawls forever. Memphis, Vegas, Orlando also have tons of empty apartments and tons of urban sprawl. Obviously supply meets demand or there wouldn't be lots of empty apartments. Yet sprawl goes on and prices go up. Explain these contradictions.
And all this for what?
This is not about sprawl.
I give up. If urban boundries aren't about sprawl what are they about? Your post, so what's the answer? I await with baited breath.
Bigsby
2014 May 12, 5:05am
You have to pay for things. A lot of you seem to think that you're under the weight of a massive tax burden when in actuality tax as a % of GDP is close to the lowest of any OECD country. Perhaps you shouldn't be so averse to those who can afford it (including corporations) paying a bit more. Would it be so bad if that then resulted in better roads, schools, healthcare...?
Dan8267
2014 May 12, 5:45am
APOCALYPSEFUCKisShostikovitch says
The bottom line is that the Second Amendment isn't in effect today or you could have nukes, biological/chemical weapons, land mines, RPGs, and tanks.
And fighter bombers. No American is safe from tyranny without one.
Correct, as well as ANY armament.
Heraclitusstudent
2014 May 12, 5:50am
Developers build what will sell. If that is high end condos instead of low end apartments then that's the price of living in a free market. Are you advocating having government decide what housing will be built and where? That didn't work out very well in eastern europe and russia at all.
There are lots of cities with tons of apartments, I lived in Oklahoma City which has always had one of the lowest apartment occupancy rates in the country and it sprawls forever. Memphis, Vegas, Orlando also have tons of empty apartments and tons of urban sprawl. Obviously supply meets demand or there wouldn't be lots of empty apartments. Yet sprawl goes on and prices go up.
First are we talking of Canada? Memphis is one thing, but do we suffer from high prices in Memphis? I doubt it. If every place was like Memphis, we wouldn't talk about high prices.
Then if we have plenty of supply, why are prices super high, by historical standards, in cities like Toronto, or SF in the US. Answer: we have for sale very limited inventory, i.e. very limited supply. Builders build only limited supply in spite of super-high prices.
Further, I don't know Canadian suburbs, but go to San Ramon/Danville, a suburb where there is space to build, and prices are still super-high. And rent prices are high too. But builders are not building massively there either, is spite of space and high prices.
So my point is clear: this is not about sprawl or not, apartments or mansions. On aggregate, they just aren't building enough.
And since presumably builders would build provided they make a profit, which they should considering prices, it's not explained only by the reluctance from builders. Authorities are controlling this.
Further, I don't know Canadian suburbs, but go to San Ramon/Danville, a suburb where there is space to build, and prices are still super-high. And rent prices are high too. But builders are not building massively there either, is spite of space and high prices.
So my point is clear: this is not about sprawl or not, apartments or mansions. On aggregate, they just aren't building enough.
And since presumably builders would build provided they make a profit, which they should considering prices, it's not explained only by the reluctance from builders. Authorities are controlling this.
There is too much NIMBYism and too many reluctant planning departments all over the Bay Area that don't allow more building. There is plenty of land here, but you can't build on most of it. In the San Ramon/Danville area, there is tons of space, but the NIMBYs complain about increased traffic every time someone wants to build 40 housing units -- I got mine, you can't have yours.
ttsmyf
2014 May 12, 8:00am
WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!
Say hey! This was in the Wall Street Journal on March 30, 1999. Note "... how much it will buy."
Holy cow/interesting/compelling ...!
And where is it up to date??? Right here ... see the first chart shown in this thread.
Recent Dow day is Monday, May 12, 2014 __ Level is 105.5
WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes! This was in the New York Times on August 27, 2006:
And up to date (by me) is here:
http://patrick.net/?p=1219038&c=999083#comment-999083
WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!
And "ThePublic Be Suckered"
http://patrick.net/?p=1230886
Bellingham Bill
2014 May 12, 11:24am
But Japan did not have such a quick rebound in real-estate prices.
ain't that the truth.
I was expecting that pattern for the US, too, but forgot that we're different here.
http://research.stlouisfed.org/fred2/graph/?g=Avt
demographic difference
we were a lot more committed to our housing bubble, too. Japan's was vexatious, in that they weren't able to pull trillions OUT of bubble valuations like we did, and want to do again, nor were the Japanese able to just 'walk away' / 'jingle mail' or that HAMP principal modification BULLSHIT that we did in our aftermath.
If anything they have an oversupply of housing now, and with falling population and general deflation in everything, rents have no way to go up over there apparently.
Story is different here!
http://research.stlouisfed.org/fred2/series/CUUR0000SEHA
bend over America, you're going to get it good and hard from The Man this decade and next.
It means precisely that the people must have access to all weapons the government has. This made sense in the 18th century, but doesn't in the 21st.
The best soilders in WW1, WW2, Korea and Vietnam to today were those who were crack marksmen... Sg York comes to mind for one!
So I say good practice makes a good soilder...
fast forward today...
no matter.. no need to practice on a real $mega million F16 Falcon,
when you can do the same on a Computer Simulator anyway...
so the answer to your question is its already happened !
There is too much NIMBYism and too many reluctant planning departments all over the Bay Area that don't allow more building.
I suggest you drive across much of Milpitas, Fremont and No San Jose...
Lots of new development going up... no end in sight!
If that gets filled than there is much more land in So. San Jose...
As far as SF prime... Think Santa Rosa doesnt have land.. think again !
I wish Obama was as zealous in protecting our southern boarder, as Harry Reid's zealousness for running ranchers off of federal land (for the sweet-heart deal to sell the land to the Chinese for a solar farm; the deal being brokered by Harry Reid's son)..
Bundy is selling his land to chinese in a deal brokered by Reid's son? When did that come up?
Bellingham Bill
2014 May 13, 12:14am
What is the consequence of the debt balance they have created by doing this?
debt needs new money, and new money needs new debt
ever upwards we go, excelsior!
AverageBear
2014 May 13, 11:23am
The solar farm deal (a) fell through in 2013, and (b) was slated for construction 50 miles away from the land in question.
----------------------------------------
Hydro, you seem to like projecting. Please read my words. Harry Reid was zealous in kicking off ranchers off of Federal land, not just Bundy. This is fact. Yes, this was 50 miles from Bundy's ranch. What's your point? My point is that Harry Reid is kicking ranchers off of Federal land, and trying to sell it to the Chinese. This is fact. It's happening all over the West, including Texas.
So, when the federal gov't (ie Harry Reid in NV) tells ranchers like Bundy that they can no longer use federal land for the protection of a tortoise, and then turn around and try to sell that land to the Chinese, doesn't that strike you as odd, or hypocritical? Were they lying to the ranchers so they could get the sweetheart deal to sell the land to the Chinese? What makes you think the Chinese will use the land while protecting the tortoise?
Why did the gov't shift its argument from "we must protect the tortoise", to "Bundy hasn't paid his grazing fees"? Maybe the gov't lied about the protection of the tortoise? Hmm?
And finally, I find if really funny how the Feds stood down to Bundy and the armed ranchers, once the news broke out that Harry Reid was involved w/ this deal with the Chinese. IIRC, within 24-36 hours. Hmmm? Why is that?
Funny you mention Obamacare and facts in the same comment. Did you really believe Obama's promises on Obamacare were going to happen. He fuckin' lied about EVERYTHING related to Obamacare. Were you that naive? I'll start digging up more fun facts on Bundy, Harry Reid's psychotic behavior and his little Mini-Me of a son...
AverageBear
2014 May 13, 11:30am
When does embarrassment kick in?
I dunno, but you may find the feeling of embarrrassment more familiar, by backing Obama and his failed Obamacare promises. You know, the known lies he made. The lies Obama made, while Obama himself knew they were lies when they came out of his mouth?
Yes, please have another helping of Kool-Aid while Obama tells you that you will keep your doctor, your health care costs will go down, at the same time we sign up 30 million dead-beats who can't pay into the system... PFFFFT. Don't call me out, trying to act credible. It's a bad look. Trust me.
E-MAN I'm pretty sure you are talking about the condos on samaritian dr as your holdings. Boy those thing were cheap and I just missed on then at 238K. There was one 2300 samaritian place, 2 and that was getting auctioned on 4/28.
monkframe
2014 May 13, 2:14pm
Jeez, I'm sure glad the upper classes have so many arguments.
Not sure how you classify the upper classes. Is it the top 1%, 5%, 10% or 20%? A lot of Bay Area families fit the top 10% and easily fit the top 20%, but that doesn't mean a whole lot around here with those 6-figure household income.
You know what I mean.
My point is that Harry Reid is kicking ranchers off of Federal land, and trying to sell it to the Chinese. This is fact. It's happening all over the West, including Texas.
So, when the federal gov't (ie Harry Reid in NV) tells ranchers like Bundy that they can no longer use federal land for the protection of a tortoise, and then turn around and try to sell that land to the Chinese, doesn't that strike you as odd, or hypocritical? Were they lying to the ranchers so they could get the sweetheart deal to sell the land to the Chinese? What makes you think the Chinese will use the land while protecting the tortoise?
Why did the gov't shift its argument from "we must protect the tortoise", to "Bundy hasn't paid his grazing fees"? Maybe the gov't lied about the protection of the tortoise? Hmm?
I really hate to screw up a good ideological rant with facts. Actually going and looking things up is so much work. It's easier to just regurgitate fox news.
No ranchers are being kicked off federal lands for solar projects. Most of the solar designated area's are dry lake, not grazing lands. Like Dry lake solar zone outside vegas. You can google it. Even better here is the BLM website for dry lake solar zone. http://www.blm.gov/nv/st/en/fo/lvfo/blm_programs/energy/dry_lake_solar_energy.html . there is an 86 page document that details the area if you want to read it.. Since there is now way you are actually reading something when you can listen to rush I'll even paraphrase it for you.. The area is arid dry lakebed with sparse creosote vegetation. The area is to the west of the tortoise protection area. So there are no tortoise and no ranchers (cows don't eat creosote).
So when does your personal embarrassment kick in for being a willing dupe to more Koch Bro's propaganda? It's just brillent that the .1% has all the bad teeth redneck trailer trash as an eager volunteer army to push the agenda of making the .1% even richer by simply repeating the words big government, god, and guns endlessly. You really can't make this stuff up.
BTW I am not at all embarrassed about Obama. I didn't vote for him (or the republican idiot) and always said he would be a terrible president.
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