patrick.net

Where are all the amazing jobs the job creators promised in 08 and 12?

Bellingham Bill says

http://research.stlouisfed.org/fred2/series/CUUR0000SEHA

has been the reality since the 1970s.

That's an ugly reality

the ONLY reason why it's cheaper to rent in this case:

"Home will be available for approximately 6 months."

JH says

Where are all the amazing jobs the job creators promised in 08 and 12?

We just need one more tax cut.

We're almost there.

All the other tax cuts for the wealthy didn't do it, but the THEORY cannot be wrong. Conservatism cannot fail - it can only be failed.

Do not weaken - we are on the threshold of untold wealth, and love and happiness forever!

rdm says

There is never 100% proof in a situation like this. But lets say there was 100% proof that Assad did this. The question is, do we care? The answer in America seems to be no, not really our problem.

Yep, I don't see our interest here.

100% is impossible, but right now we're looking at rumors passed along by a government which for some reason is really interested in replacing secular tyrants with religious fanatics, even though their worst terrorist attack in history came from these religious fanatics and not secular tyrants like Ghaddafi, Hussein, and Assad.

This some government loves the autocrats of Qatar, Bahrain, UAE, and Saudi Arabia - although these same states are the biggest funders and supporters of radical fanatics, who would be minor gadflys without oil money behind them and their Madrassahs.

The US couldn't be arsed to stand up against the slaughter of the Shi'ite Majority by the Sunni minority in Bahrain. Sec. of State Clinton said "Oh that's bad, so sad", which was the limit of our reaction to the butchery of ordinary Bahrainis.

How many people are gunned down on a daily basis in Libya these days? I would be surprised if the death toll attributed to violence is well beyond 1400 YTD there. Almost no oil is being exported because of the chaos, only the oil dealers benefit from reduced supply.

Gun, Gas, Bomb, Piano dropped from a Window on someone's head it's all dead.

This article is from a running series by Boca News devoted to "Outrageous Agents". It's a social column of sleaze. Thieves, thugs, pervs, and DUI repeats-- read all about 'em! One of my faves:

Boca Area Realtor Urinates On Self, Lunges At Cops
http://bocanewsnow.com/2012/10/03/update-boca-area-realtor-urinates-on-self-lunges-at-cops/

Boca Raton area Realtor William Sohl was found passed out near Blue Martini at Town Center Mall and had apparently urinated on himself in the early hours of Saturday. When awoken by a police officer, Sohl allegedly jumped up and assaulted the officer and his partner who responded by using force and a taser.

The officers suffered minor injuries. Sohl, whose website says he works for Re/Max, was transported to Boca Raton Regional Hospital to have the taser “prongs” removed...

Good ole Elizabeth Warren she sure fixed the predator financial systems good, ditint She?

Someone give the cunt a medal.

I browsed Craigslist this morning, and it does appear as if price-to-rent is favoring renting (by a lot) at this point. Examples on the Peninsula:

http://sfbay.craigslist.org/pen/apa/4052565647.html
$5k/mo but would sell for $1.7m at least

http://sfbay.craigslist.org/pen/apa/4051250832.html
$4.5k/mo but would sell for $1.4m at least

http://sfbay.craigslist.org/pen/apa/4043747810.html
$4.5k/mo but would sell for $1.6m at least

I'm not sure I would buy a place today, unless I really, really wanted to own my house for reasons other than financial.

Such and easy way to tell the state of our workforce. How come it took so long for me to see or hear of these figures.

25.2 would be the ratio is this case in terms of annual rents. Problem is as follows - $54,000 needs to be forked over in rent. Not very wise to do that it my opinion. Better to buy a cheaper property with under 20 annual rents ratio.

Call it Crazy says

Can only mean one thing... There will be 30% MORE cash buyers...

Or less buyers....

It certainly means less Wells Fargo employees.

wave9x says

I browsed Craigslist this morning, and it does appear as if price-to-rent is favoring renting (by a lot) at this point. Examples on the Peninsula:

Haha, these prices are an absolute joke. That 3rd posting is a piece of shit house that is not on a million dollar lot. The only shred of hope that bulls are holding onto is that Asian cash is going to come in. Give me one good reason that an Asian with 1.5 million cash would waste it on this joke. And don't say proximity to jobs, because an Asian with 1.5 million cash is not looking for a job.

dublin hillz says

Problem is as follows - $54,000 needs to be forked over in rent. Not very wise to do that it my opinion.

Waste of money, I agree.

donjumpsuit says

Personally, if I am doing the math.

I would rather buy a $350k house with 10% mortgage

than a

$700k house with a 3.5% mortgage.

#1. I don't pay some loser an over inflated amount for a house because the monthly is more affordable.

#2. At least with a 10% mortgage I get a tax break AND lower property taxes.

WAKE THE FUCK UP.

Yes then you can refi when the rates drop. Can't refi when you start at 3%

RentingForHalfTheCost says

JH says

Give me one good reason that an Asian with 1.5 million cash would waste it on this joke.

Because they were told by the realtor that it will be valued at 2.5m in a few years. Then another fool comes and buys for 2.5m because he was told it will go to 4.0m, etc. etc. Sounds like a ponzi scheme to me. Don't look for real value, because that isn't part of the scheme. If people believe they will make money, then they will risk their fortune to get it. It is a American dream.

Yes this drives investment bubbles. It is not sustainable, however...

The data is very noisy, so it doesn't make sense to focus on the most recent down leg. Egads is asking a fair question by making a year on year comparison, which at least addresses the variability from seasonal factors. If you do YOY comparisons for any of the months represented, you will see that 2013 is better than 2012 in every case. More historical data would be useful in determining what the seasonal patterns are.

The question I have is why is the withholding (black line) so noisy while the wage disbursement is a lot smoother. I'm sure there is a reason...

donjumpsuit says

Personally, if I am doing the math.

I would rather buy a $350k house with 10% mortgage

than a

$700k house with a 3.5% mortgage.

#1. I don't pay some loser an over inflated amount for a house because the monthly is more affordable.

#2. At least with a 10% mortgage I get a tax break AND lower property taxes.

WAKE THE FUCK UP.

To clarify, he means buying a $X house at $350k rather than at $700k. Just because the house is priced at $700k doesn't make it worth that much.

If lazy assholes would get 2nd & 3rd part time jobs, we could pay off the national debt,fund SS,Medicare & DOD for 100 years & cut taxes to 1% on all corps. from the increased revenue.

I need to keep up with the "Verizons". I'm borrowing all I can to overpay for overpriced housing. Debt is good because nothing can go wrong.

I just received certification:I'm an Idiot.

All the YOY in this graph are greater in 2013. Therefore, the following statement in the article doesn't justify the thesis of the article:

"Since many high-earning professionals such as attorneys and accountants are self-employed, the earnings reported by the self-employed are significant. The self-employed have some control over when and how they report earnings, and many chose to report income in late 2012 rather than in 2013 to avoid the tax increases that kicked in on January 1, 2013."

While it's an interesting way to determining employment rate, the graph is too narrow...needs to include several more years, including some time during a previous recession recovery.

This graph shows economic recovery from 2012 to 2013.

Blurtman says

Actually, he is looking more like a tin horn George W. Bush.

If he secures the chemical weapons he will be way ahead in the global arena.

I'll look at the Assad interview, but it's looking like a diplomatic win for Obama.

David Losh says

Blurtman says

Actually, he is looking more like a tin horn George W. Bush.

If he secures the chemical weapons he will be way ahead in the global arena.

I'll look at the Assad interview, but it's looking like a diplomatic win for Obama.

It's a win for Putin. Obama has to go along. Win - The Russian Bear. Loss - Big bluster Obama.

This proposal allows Obama to get out of a losing situation that he himself engineered. He looks like a moron.

I saw a photo of George and his wife standing side by side in court. The only way I could tell them apart was George wasn't the one with long hair. They could be twins.

http://usnews.nbcnews.com/_news/2013/09/09/20406563-police-called-to-incident-between-george-zimmerman-wife?lite

It's amazing how much weight he's put on since he got off of his drug addiction (amphetamines). Looks like he's aged about 15 years too.

Apparently she's not comfortable being married to a murderer.

David Losh says

Blurtman says

Actually, he is looking more like a tin horn George W. Bush.

If he secures the chemical weapons he will be way ahead in the global arena.

I'll look at the Assad interview, but it's looking like a diplomatic win for Obama.

There are no wins in the middle east, only degrees of losing.

Attacked by his ex-fiancée; attacked by cops; attacked by his wife, his father in-law, and an iPad. Sexually molested by his pre-pubescent niece.

No wonder teen hoodlums attack him: they don't want to be left out.

Now the race-baiters will make this out to be some sort of "issue" Zimmermann has with aggression.

IT's true, we have no way of knowing what the ipad did to him before he smashed it and stabbed it.

HydroCabron says

Now the race-baiters will make this out to be some sort of "issue" Zimmermann has with aggression

What color was the ipad ? WE know for sure it was an aggressive ipad that deserved to die. I doubt the color of it had anything to do with it though. I heard someone say, "that ipad was a POS tablet and karma bit it in the ass at a young age." I think that pretty much sums it up.

*edited*

He must run for President!

He was just standing his ground against the ipad.

We can't know for sure what happened between George, his wife, her father, and the iPad, because none of us were there. We'll just never know.

Therefore my conclusions as to his motives and actions are completely supported by the facts, and everyone else is full of shit.

Congress seriously needs to impeach Obama's ass and throw Kerry in prison as a treasonous war criminal.

You should all just shut up about Zimmermann. Anyone is free to molest a child, assault a fiancée, assault a cop, murder a kid in a hoodie, and brandish a weapon at relatives. If you think you can pay your employees better while doing so, then there's nothing stopping you.

Therefore, no one has any right to criticize him.

Checkmate, race baiters!

Geraldo Rivera is saying that maybe this will serve as a wake up call to young electorincs devices to not go around intentionally looking like they are dangerous or up to no good.

Some are saying that the ipad may have had the CNN website open on it at the time, or worse, PBS. That is suspicious.

Must everyone just pile on to this murderer like he's Walmart or a realtor, judging him before we know that he did anything wrong?

By the way, that iPad, like the rest of them iPads, was going to commit a crime sooner or later.

Exactly: Zimmermann minced forward to do the job the cops wouldn't.

Call it Crazy says

egads101 says

and a reference to charles hugh smith, who has been 110% wrong on every economic prediction of doom for 6 years now. It that guy had ever been right, we wouldn't be having a discussion, but he has never been right ever.

Let's see... Charles Hugh Smith's blog is listed #7 on CNBC's list:

....Charles Hugh Smith is an American writer, and blogger. He is the chief writer for the site, "Of Two Minds".[1] Started in 2005, this site has been listed #7 in CNBC's top alternative financial sites.[2]

Hey Roberta, where's your blog on that financial blog list??

Hehe. Actually he has had some really good writings spot on leading into the crisis, spotted the problems with debt and the FIRE sector early on. He mos-def has been more right about everything than 2 years of housing "recovery" ;)

Call it Crazy says

egads101 says

and a reference to charles hugh smith, who has been 110% wrong on every economic prediction of doom for 6 years now. It that guy had ever been right, we wouldn't be having a discussion, but he has never been right ever.

Let's see... Charles Hugh Smith's blog is listed #7 on CNBC's list:

....Charles Hugh Smith is an American writer, and blogger. He is the chief writer for the site, "Of Two Minds".[1] Started in 2005, this site has been listed #7 in CNBC's top alternative financial sites.[2]

Hey Roberta, where's your blog on that financial blog list??

Its a legitimate point. After all, Charles Hugh Smith was the basis for the infamous 1975 nominal prices by 2014 call made by Dunnross.

http://patrick.net/?p=651978

In the long and spectacular history of failed housing calls on Pat.net -- this one will go down as the most epic failure of all time.

Would you not agree?

CDon says

Its a legitimate point. After all, Charles Hugh Smith was the basis for the infamous 1975 nominal prices by 2014 call made by Dunnross.

http://patrick.net/?p=651978

In the long and spectacular history of failed housing calls on Pat.net -- this one will go down as the most epic failure of all time.

Would you not agree?

It is a valid objection, but that doesn't discount everything else he wrote where he was spot on. A lot of people underestimated not only the power but also the audacity of the Fed to print and recklessly indebt future generations, kicking the can down the road as long as possible while trying to maintain a state in between massive inflation and deflation so that the deflationistas and the hyperinflationistas eventually would give up or lose their appeal, however effectively creating stagflation and completely wrecking the US economy and middle class.You can see that by how manic the market reacts on tiny interest rate moves as it has lost all the ability to regulate and predict itself like a drug addict and any major rate move in any direction could cause it either to blow-out or plunge into the abyss.

Any minute now the technophobe baiters and the luddite baiters are going to be chiming in about how not enough respect is given to technology, and how the ipad was just being itself, a perfectly harmless electronics device.

In my opinion, it's irrelevant whether Zimmerman is a technophobe or luddite. He saw an electronics device that was clearly looking for trouble, and he gave it what it was asking for.

mell says

but that doesn't discount everything else he wrote where he was spot on.

Actually, I think it does. I mean, when he wrote this missive, it was not 2006 or 2007, but 2011. By this point, the extend and pretend can kicking had been going on for at least 2 years - and there were absolutely no signs coming from TPTB that it was going to end anytime soon.

That said, the one part where you and I agree:

mell says

A lot of people underestimated not only the power but also the audacity of the
Fed to print and recklessly indebt future generations, kicking the can down the
road as long as possible while trying to maintain a state in between massive
inflation and deflation

That part we agree on 100%. But again, in early 2011, how was this in any way surprising? In the eyes of TPTB, we had the option of (1) seeing the country possibly implode via deflation (2) seeing the country possibly explode via hyperinflation or (3) seeing the country slowly decay as it (and all empires do) slowly, over immense amount of time such that the suffering is delayed so long that some of us will be long since dead and buried by the time it "hits".

In a lot of ways, it amazes me that so many were so sure that TPTB would do anything other than choose door #3.