Reis: Apartment Vacancy Rate falls to 4.7% in Q2

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CalculatedRisk on Wed, 07/04/2012 - 10:30pm (55 comments)
Duke of Con Dao wrote on Wed, 7/4/2012 - 10:30 pm

Police Say Head Belongs to Canada Body Parts Victim

Duke of Con Dao wrote on Wed, 7/4/2012 - 10:31 pm

this is one wild story

Duke of Con Dao wrote on Wed, 7/4/2012 - 10:31 pm

Investigators say Magnotta (Canadian porn star), 29, posted a video online showing him having sex with the dismembered corpse. A second, unedited version of the video seen by police shows him eating parts of the body. Police say Magnotta and Lin were in a relationship.

Doc Holiday wrote on Wed, 7/4/2012 - 10:33 pm

I'd like a one bedroom with a view in the desert pleaze

Duke of Con Dao wrote on Wed, 7/4/2012 - 10:35 pm

wow...
former Knick star Jeremy Lin eaten by a Canadian porn star! Duke Point
edit...
not Jeremy... maybe a relation

Duke of Con Dao wrote on Wed, 7/4/2012 - 10:34 pm

last chance for a taste of Patriotism!
YouTube - July 4th Fireworks seen from the Rooftops of Brooklyn NYC
...

1 currency now -yogi wrote on Wed, 7/4/2012 - 10:34 pm
"The improvement in rents is pretty pervasive,

"Improvement"?

The rent is too damn fucking high.

Duke of Con Dao wrote on Wed, 7/4/2012 - 10:39 pm

Nytol
jump cut:
Along with a first-degree murder charge, Magnotta is charged with defiling Lin's corpse.
...
defiling a corpse? WTF?

Rob Dawg wrote on Wed, 7/4/2012 - 10:39 pm (in reply to...)

Doc Holiday wrote:

I'd like a one bedroom with a view in the desert pleaze

Apartment for Lease

Doc Holiday wrote on Wed, 7/4/2012 - 10:39 pm (in reply to...)

1 currency now -yogi wrote:

The rent is too damn fucking high.

I totally F'ing disagree, wages are too F'ing low!

azurite wrote on Wed, 7/4/2012 - 10:46 pm

Just in case you've been wondering:

BBC News - No evidence of mermaids, says US government 

edit to add: I see adornaghost beat me to it.

Just one more marine species the Navy training exercises have driven away/killed Sad

Doc Holiday wrote on Wed, 7/4/2012 - 10:47 pm (in reply to...)

Rob Dawg wrote:

Apartment for Lease

Beautiful, but maybe closer to Palm Springs or Sedona; I suppose I should require some sort of resort to work in as a part-time something or another for cash flow; maybe I could aspire to be a house sitter? I a fairly useless person, so maybe I'll just try to blend in.

Maybe here: This is perfect, I'll get into F'ing real estate: Real Estate Technology

Kauai_Kahuna wrote on Wed, 7/4/2012 - 10:45 pm
azurite - No evidence of mermaids, says US government

Those manatees must look pretty good after being at sea for a year or so.

Kauai_Kahuna wrote on Wed, 7/4/2012 - 10:46 pm
Doc Holiday - I a fairly useless person, so maybe I'll just try to blend in.

Not to hard to do it seems.

picosec wrote on Wed, 7/4/2012 - 10:48 pm (in reply to...)

Duke of Con Dao wrote:

YouTube - July 4th Fireworks seen from the Rooftops of Brooklyn NYC

Meanwhile, in Oakland...
Oakland - Web TV | www.ktvu.com

Watched similar from up the hill. Fireworks everywhere.

Doc Holiday wrote on Wed, 7/4/2012 - 10:55 pm

OT Fantasy #1: Housing Information

This is great, now I have a host family: Smile

Food, place to hang out ...

Next, I need a job (check) As a potential realtor, that can wait until the last second; I can always test drive a car as needed.

Do I need a car?

azurite wrote on Wed, 7/4/2012 - 10:53 pm (in reply to...)

Kauai_Kahuna wrote:

Those manatees must look pretty good after being at sea for a year or so.

YouTube - the pogues - lorelei

Lorelei - Wikipedia, the free encyclopedia

merchants of fear wrote on Wed, 7/4/2012 - 10:55 pm (in reply to...)

Investigators say Magnotta (Canadian porn star), 29, posted a video online showing him having sex with the dismembered corpse. A second, unedited version of the video seen by police shows him eating parts of the body. Police say Magnotta and Lin were in a relationship.

Guess in this case the laws didn't matter... certainly didn't prevent the alleged activities in question.

Comrade Troyski wrote on Wed, 7/4/2012 - 10:59 pm (in reply to...)
I totally F'ing disagree, wages are too F'ing low!

And I say it's all a f-ing treadmill.

Wages go up, rents go up.

Hell, demand goes up, rents go up even if wages don't go up.

At any rate, the rentman took my 2% FICA cut, LOL.

The only real way to fix this is to just build so many units that demand is overwhelmed by supply, driving (economic) rents in housing to $0.

Theoretically the free market would move in this direction, but housing is difficult to increase since land is rather fixed in supply.

It is possible to increase the supply of land by improving the transportation infrastructure, but that takes an immense amount of capital. Plus of course building the housing good itself tends to take a lot of capital investment.

Good place to find rents, LOL.

I can only hope Clintonian tax rates return next year, purging the system the hard way.

azurite wrote on Wed, 7/4/2012 - 11:02 pm

Nytol

Wonder how much fireworks detritus will litter the streets & beach tomorrow. Shakes Tiny Fist of Fury

Doc Holiday wrote on Wed, 7/4/2012 - 11:05 pm (in reply to...)

Comrade Troyski wrote:

The only real way to fix this is to just build so many units that demand is overwhelmed by supply, driving (economic) rents in housing to $0.

This all happening because of old people -- it's their fault for staying in their homes during this recession; if they would have walked away and given away their homes, rents would be cheaper. The solution is to build up a massive supply of apartments and then build massive amounts of homes and then see what happens in about 5 years when the tsunami of inventory crashes rents into a wave of old people that don't give a F___ Quick, fetch a pail!

Comrade Troyski wrote on Wed, 7/4/2012 - 11:34 pm

I arrived back in the bay area in 2000, and man was the housing market crazy.

Rents on 1960s-era 1B apartments were rising $100/mo it seemed.

I sensed something was fundamentally "wrong" with this picture, but lacked the exposure to heterodox economics to question it.

Capitalism was good and land was capital, so all this was to be expected.

Then in late 2002 I discovered Georgism and was amused to find that the same damn problem in the same damn geographic area happened over 100 years previously.

Earth Rights Institute - In the History of Thought: Henry George's "Single Tax"

Comrade Troyski wrote on Wed, 7/4/2012 - 11:18 pm

FRED Graph - FRED - St. Louis Fed

shows we're living in the Jetson's future of plenty now, but for the rent . . .

Doc Holiday wrote on Wed, 7/4/2012 - 11:27 pm (in reply to...)

Comrade Troyski wrote:

Jetson's future of plenty now

Yes, there used to be charts that dealt with the percent of income going into homes that people bought a few years ago also; I hate to think we're seeing equilibrium here. I'm confused as to who will be buying the massive amount of over-priced homes, and thus who will be pulling rents down. The inventory rebalancing makes sense until you ponder the unemployment problem and the inflationary cost of living -- your chart shows us that only a few rats will survive this next bubble.

Comrade Troyski wrote on Wed, 7/4/2012 - 11:30 pm

Pigged >What % do you assume will reach 66, 67, whatever the age of full retirement for SS retirement benefits will be (changes depending on year of birth)?

Historical and Projected Number of Medicare Beneficiaries and Number of Workers Per Beneficiary - Kaiser Slides

says the people running the system expect 80M Medicare beneficiaries by 2030.

I kinda like my chances in the 2030s better in the Japanese system. Their baby boom is teeny tiny compared to ours.

And I don't trust that Ryan weasel at all.

http://s3-ec.buzzfed.com/static/enhanced/web05/2012/6/30/0/enhanced-buzz-23047-1341029090-0.jpg

Mfer is actually younger than me.

Mike_PNW wrote on Wed, 7/4/2012 - 11:30 pm

All full up here in Seattle. My last rent increase was 10%. I fully expect the next one to be similar.. having a gf to split the rent....priceless.

1 currency now -yogi wrote on Wed, 7/4/2012 - 11:31 pm (in reply to...)

Doc Holiday wrote:

I'm confused as to who will be buying the massive amount of over-priced homes

Anyone who can get cheap loans from, or sell bogus securities to, the Fed. It may have to get shuffled through some conduits to hide the trail...

Doc Holiday wrote on Wed, 7/4/2012 - 11:43 pm (in reply to...)

Mike_PNW wrote:

having a gf to split the rent....priceless.

Ahh yes, the big city, where females run wild; on that happy note, have a good evening! Now back to the yacht race

Mike_PNW wrote on Wed, 7/4/2012 - 11:45 pm (in reply to...)

Ahh yes, the big city, where females run wild

Yeah..now that I think about it..maybe she should be paying 75%... Wink

Mike_PNW wrote on Wed, 7/4/2012 - 11:51 pm

Looks like you and me yogi..what do you think about that Nash trade to the Lakers?? NBA just got alot more interesting...

Mike_PNW wrote on Wed, 7/4/2012 - 11:59 pm

all right then...signing out.. Nytol

Antipodes wrote on Thu, 7/5/2012 - 1:11 am

Just finished cleaning up the kitchen after dinner. Mrs. Antipodes said these were the best two pizzas I've made to date. I have to say... I agree. Shy

burnside wrote on Thu, 7/5/2012 - 1:55 am

For our Californians . . .

Address Is Approximate on Vimeo

merchants of fear wrote on Thu, 7/5/2012 - 2:28 am

YouTube - Coil - Omiagus Garfungiloops
YouTube - Coil - The Snow EP - Original Version - 1991

Rob Dawg wrote on Thu, 7/5/2012 - 2:40 am

A 25 basis point cut in the ECB's main rate is widely expected, but investors are waiting to see if the central bank will take other measures, which could include a cut in its deposit rate to encourage banks to lend more of the cash they hold.
...
The ECB is due to announce its decision at 7.45 a.m. EDT, followed by a news conference by President Mario Draghi.

merchants of fear wrote on Thu, 7/5/2012 - 2:42 am

1) Denial 2) Anger 3) Bargaining 4) Depression 5) Acceptance Nytol Burnt Swill - er - Starbucks Coffee
YouTube - Nurse With Wound Untitled Jungle Drum and Bass Track Amen Break

curious wrote on Thu, 7/5/2012 - 3:11 am

Struggling homeowners avert foreclosure via mediation
| Reuters

Pearl wrote on Thu, 7/5/2012 - 3:22 am

Good Morning, CRowd. Burnt Swill - er - Starbucks Coffee

This is an interesting Time article, although it is similar to the Vanity Fair article that Comrade Kristina linked on Tuesday.

Assets Offshore Hint at Larger Romney Wealth - TIME

(Comrade Kristina's link from Tuesday: Investigation: Mitt Romney’s Offshore Accounts, Tax Loopholes, and Mysterious I.R.A. | Politics | Vanity Fair  )

Not sure how all of this has passed the "smell test" for a U.S. presidential nominee. (But it's not like I was gonna be voting for the guy in the first place--it's just surprising to me, that's all.)

And, btw, what's the deal with Republican presidential candidates and Does the FDIC Order Anchovies? ?

Antipodes wrote on Thu, 7/5/2012 - 3:31 am (in reply to...)

Good morning, Pearl! Lets take a coffee break

Pearl wrote on Thu, 7/5/2012 - 3:38 am (in reply to...)

Antipodes wrote:

Good morning, Pearl!

Speaking of Pizza..... Laughing out loud

Howya doin' Antipodes?

Antipodes wrote on Thu, 7/5/2012 - 3:39 am

Does the FDIC Order Anchovies? Does the FDIC Order Anchovies? In Vino Veritas Yeah, but how old am I? Tired Nytol

Antipodes wrote on Thu, 7/5/2012 - 3:40 am (in reply to...)

Pearl wrote:

Howya doin' Antipodes?

Doing well, thank you.

Spent all afternoon and evening cooking in the kitchen. Love

Pearl wrote on Thu, 7/5/2012 - 3:43 am (in reply to...)

Antipodes wrote:

Spent all afternoon and evening cooking in the kitchen.

Yummmm....real food!

What kind of cheese do you use on your homemade pizzas, Antipodes?

Rajesh wrote on Thu, 7/5/2012 - 3:48 am

Risks of deflation rising again: James Saft
| Reuters

Despite virtually zero interest rates, despite QE1 and 2 and Operation Twist, and even despite a rush to supposedly safe Treasuries which have driven financing rates lower without help from the Fed, still we have an economy which fails to thrive.

The Fed can introduce all of the liquidity into the economy it likes, but it cannot force banks to lend or people to borrow. The central bank has tripled the monetary base since 2008, but the speed at which money circulates through the economy has slowed, a sure sign that higher doses of the same medicine won't be fully effective.

"We think that the global forces behind deleveraging have more firepower than all of the world's central banks and governments together, and that deflation is a much more likely outcome than a major inflation," fund managers Comstock Partners wrote in a June note to clients.

Pearl wrote on Thu, 7/5/2012 - 3:48 am

I just noticed the Nytol icon--so I'll have to guess.

My guess is that you use Antipocheese... Wink

Nitey-nite Antipodes. Sleep well. Yaaaaawwwn

Rob Dawg wrote on Thu, 7/5/2012 - 3:51 am

HCN never sleeps.

Tom Stone wrote on Thu, 7/5/2012 - 3:52 am (in reply to...)

Rob Dawg wrote:

HCN never sleeps.

I'm going back to bed in a moment.

Pearl wrote on Thu, 7/5/2012 - 3:54 am (in reply to...)

Rob Dawg wrote:

HCN never sleeps.

Rob Dawg! Are you up already? Or just still awake? Shock

vtcodger wrote on Thu, 7/5/2012 - 3:55 am (in reply to...)
The Fed can introduce all of the liquidity into the economy it likes, but it cannot force banks to lend or people to borrow.

At last folks are beginning to notice that the Fed's STIMULATE/INFLATE lever isn't connected to anything. Since it's really the only control on their instrument panel other than a switch labeled DO SOMETHING REALLY STUPID, we may have a problem here.

Rob Dawg wrote on Thu, 7/5/2012 - 3:56 am (in reply to...)
Pearl wrote on Thu, 7/5/2012 - 3:54 am (in reply to...)
Rob Dawg wrote:
HCN never sleeps.
Rob Dawg! Are you up already? Or just still awake?

A little of both. Got four hours but now tinnitus is keeping me awake. Lots of things to get done before vacation Saturday.

Pearl wrote on Thu, 7/5/2012 - 3:57 am (in reply to...)

Tom Stone wrote:

I'm going back to bed in a moment.

Just checkin' to make sure the world is still turning, Tom?

Here--I'll get you both some warm milk. The Dude Abides The Dude Abides . Now go back to beddie-bye you little rascals!

Rob Dawg wrote on Thu, 7/5/2012 - 3:59 am
vtcodger wrote on Thu, 7/5/2012 - 3:55 am (in reply to...)
The Fed can introduce all of the liquidity into the economy it likes, but it cannot force banks to lend or people to borrow.
At last folks are beginning to notice that the Fed's STIMULATE/INFLATE lever isn't connected to anything. Since it's really the only control on their instrument panel other than a switch labeled DO SOMETHING REALLY STUPID, we may have a problem here.

All carrot and no stick makes Fed an ineffective tool. Close a few banks, charge interest on excess deposits, let rates rise to reflect real inflation.

Pearl wrote on Thu, 7/5/2012 - 4:04 am (in reply to...)

Rob Dawg wrote:

Got four hours but now tinnitus is keeping me awake.

Well--you just tell Tinnitus to be quiet or I'll tell his mom he can't sleep over again.

(He's still wired up from all of those fireworks.)

Now go back to sleep and you can tell us all about your vacation when you wake up tomorrow.

And don't worry about whether or not you'll forget to lock the back door, or if your daughter will leave her curling iron on, or if your neighbor will forget to feed your cats and water your tomatoes....

The Mortgage Pig wrote on Thu, 7/5/2012 - 4:04 am

MBA: Mortgage Applications Decrease, Record Low Mortgage Rates

Rob Dawg wrote on Thu, 7/5/2012 - 4:05 am

MBIA mortgage apps -6.7% decline.
Spain 10y +22bps.
US 10y at 1.59.

Expect that last to drop to new record lows on bad jobs number.

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