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Housing Starts Bounce As Permits Surge Most In 5 Years On Multi-Family Spike
Housing Starts rose 10.5% in November (after plunging 12% in October) as it appears weather-weakened construction caught back up with single-family starts recovering from the plunge in October. The South saw the biggest spike (up 21%) and Northeast fell 8.5%. Building Permits rose 11% MoM (after a 5.1% last month) as multi-family spiked from 446 to 566 (driven by a 22% spike in The Midwest and The West). This is the biggest MoM gain since Dec 2010.
Permits spiked most in 5 years, Starts surged...
Starts driven by single-family...
Permits driven by multi-family...
Welcome to the post-Fed rate-hike renter nation?
Charts: Bloomberg
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Indication that there are a lot of folks planning on renting rather than owning or walking from homes!
These housing charts that are rightly advertised here are quite depressing as, yes, Mr. Durden, this does toll the loudest for a nation of renters.
And, worse yet, a nation of renters that have not sought to understand how or why it is that they have been duped and, like cattle, corralled into stock pens for holding and transport (i.e., the nursing home or death).
A nation whose educational core, whether public or private, low-cost or high, has failed both the student and the teacher in the sense that nothing that the they should do, no matter how efficient or immaculate on the surface, shall be anything more than a cursory solution, in terms of real humanness, real efficiency, as it will necessarily be born, raised, and respected in a national culture of special interests that conceals itself behind Potemkin-politics in an act of fatih that they do not call religion.
"I asked your mother for you
she said that you was too young,
I wish, dear lord, I never seen your face
I'm sorry that your world was born."
-H. Ledbetter
Woo, hoo!!! Demand for cubby holes and attic corners surging! Buy, buy, BUY!!!
House on my street, on the market for ~3 months....Finally sold....at an all time record high for this street..buyer paid just under asking which was WAY over other homes in the area...the buyers were...wait for it..."Asian"...!....I don't live in CA...thanks a lot you stupid fucks...I'm sure the assessor's office will be sending me a letter in the Spring notifying me of just how much more valuable my house is today than it was 6 months ago!
Vacant house for ~3 months, pretty much ZERO activity, ONE open house with pathetic turn out...and they walk up and WAY OVERPAY!...whole world is fucking nuts.
The end result of George Bush's "Home Ownership Dream" is a growing class of renters with a sub $500 net worth...Mission Un-Accomplished!
EurGold are selling all of their 1oz silver coins for just €12!
These include:
1oz Silver Vienna Philharmonic 2015.
1oz Silver American Eagle 2015.
1oz Silver Canadian Maple Leaf 2015.
1oz Silver Perth Mint Kookaburra 2015.
https://www.eurgold.de/silver/silver-coins/
Silver 1oz Vienna Philharmonic 2015 Master Box (500pcs) - €7,859.69.
https://www.eurgold.de/silver/silver-coins/500-x-1oz-silver-vienna-philharmonic-2015-master-box/
Silver 1oz American Eagle 2015 Master Box (500pcs) - €7,949.17.
https://www.eurgold.de/silver/silver-coins/500-x-1oz-silver-american-eagle-2015-master-box/
Silver 1oz Canadian Maple Leaf 2015 Master Box (500pcs) - €7,775.52.
https://www.eurgold.de/silver/silver-coins/500-x-1oz-silver-canadian-maple-leaf-2015-master-box/
All major credit cards accepted. Sale ends 31st December 2015.
"Sale ends 31st December 2015."
LOL!
I don't think so...that "going out of business" sale has been running for 5 years now...and the Fat Lady is still not on stage...
When the headlines read "China Dumping Gold and Silver in a Desperate Bid to _______"..that's when the sale end date is coming up...
Just what the doctor ordered, now everything back to normal, just in time for X-Mas!
Municipalities are starting to raise impact fee's significantly, thousands per unit. The nationals are smart enough to front run those and dump cart loads of applications to beat the increase. Same result as pulling forward demand except if things fall to shit they don't have to actually build the units.
Permits don't equal demand
Yeah, mine has a $40,000 "impact tax," paid to the gubmint for vote buying, that has to be paid before a permit is allowed. Then there are the $15,000 of additional fees (storm water management, toilet tax, shower fee, sink fee, environmental "contribution" that is not voluntary, etc.). The gubmint makes $55,000 per home right off the bat. The builder makes less than the corrupt gubmint and it all gets passed on to the BUYER.
On a side note, it is interesting to me that the new development down the street from me hasn't been able to sell its condos with about half sitting vacant for over one year. The single family homes and townhouses sold out quickly.
MUST USE FREE MONEY BEFORE IT GOES AWAY IN DECEMBER!!!
ain't nothing wrong with going BIG on lies on this most important day
http://www.texasmonthly.com/the-daily-post/oils-price-drop-is-spreading-...
Awesome!
Is two bedroom considered multi family in California?
A crawl space is:
San Francisco Housing Bubble Goes Subterranean: $500/Month To Live In A Crawlspacehttp://www.zerohedge.com/news/2015-12-13/san-francisco-housing-bubble-go...
Could an American please explain these housing terms please? I have no idea why you would build a "multi-family" house, no one WANTS to live with realtives, let alone build a home together.
Duplex I get, it turns into "semi-detached" (I think) in the UK.
Multi-family makes to sense to me.
Do you mean a block of flats (apartments) or is it really a single house for more than one family?
Sorry for being thick.
Its those stack and pack sustainable living UN bs agenda units with shopping and dining included. You dont need a car.
We are ass deep in them. small and expensive, but at least the earth will survive now.
Oh and stop thinking about a yard with a fence, we're phasing that out. Play in the park with the collective. You dont need property anymore.
I made that connection a few years ago. We are losing it fast. Study up on it. The funding is for rails over road planning. See the bay area one meetings where they confronted these THINGS.
In CA, 2 bedrooms is classified as a multi-unit apartment building.
Was funny watching Cramer on CNBS blaming the fact that Christmas sales are so bad on the nice weather. Cramer: "people aren't going to shop when it feels like the fourth of July during Cristmas". What a putz.
As we systematically destroy the economic engine of the United States, we make the patients a little more comfortable by building cheaper and cheaper housing alternatives.
The American Dream is dead. It just doesn't know it yet.
Where I live an apartment has a physical value of about 1/4 of the residential home value. We should divide the apartment units under construction by four for an apples to apples comparison.
i love listening to these people who say "the problem is, theres a lack of inventory!" ... complete and utter bullshit. come check out NJ; we are in close proximity to NY, have a bunch of people who make a bunch of $$$, access to philly & the shore lines - there is so much fucking supply at any point u need its sickening; shore, near NY, near philly - we are the foreclosure capital of the country and thats not even counting the shadow supply the banks are sitting on. true story: my girl bought a place right outside of philly (where she lives). nice area - she had her eye on another house (before she bought this one). she did the reseach, found out it was bank owned. bank would NOT let her see or bid on the place. WHY? because the place was on their shadow inventory list and they REFUSED to "oversupply" the area and further impact prices. place was real nice & guess what? its now 3 fucking years later and NOBODY has been allowed entry into the property. by now, its gotta be mold-central & most likely need-be torn-down. i don't give a fuck what ANYONE says about the housing market in this country - shit like THAT is NOT normal IF the housing market is "healthy". you allowed a potential buyer of a more expensive property to WALK and then sunk the property that buyer desired. THAT never happens in a FREE, FAIR, or HEALTHY marketplace.
But few are buying...and expect that refinance index to continue to slide with hikes
https://staticseekingalpha3.a.ssl.fastly.net/images/bullets/mc_bullet.pn...) !important; background-attachment: initial !important; background-size: initial !important; background-origin: initial !important; background-clip: initial !important; background-position: 2px 8px !important; background-repeat: no-repeat !important;">Composite Index: -1.1% vs. +1.2% last week.
https://staticseekingalpha3.a.ssl.fastly.net/images/bullets/mc_bullet.pn...) !important; background-attachment: initial !important; background-size: initial !important; background-origin: initial !important; background-clip: initial !important; background-position: 2px 8px !important; background-repeat: no-repeat !important;">Purchase Index: -3.0% vs. flat.
https://staticseekingalpha3.a.ssl.fastly.net/images/bullets/mc_bullet.pn...) !important; background-attachment: initial !important; background-size: initial !important; background-origin: initial !important; background-clip: initial !important; background-position: 2px 8px !important; background-repeat: no-repeat !important;">Refinance Index: +1% vs. +4%.
https://staticseekingalpha3.a.ssl.fastly.net/images/bullets/mc_bullet.pn...) !important; background-attachment: initial !important; background-size: initial !important; background-origin: initial !important; background-clip: initial !important; background-position: 2px 8px !important; background-repeat: no-repeat !important;">30 year mortgage rate unchanged at 4.14%.
Meanwhile, Tent Cities!
https://placesjournal.org/article/tent-city-america/
I thought we were going to get shipping containers to live in. Lousy tents.
I made fun of Obamavilles popping up like wildfire around Los Angeles about a year ago. Last week I was driving on the 110, South of Downtown LA and saw a 1 room wood framed house built on an overpass sidewalk. Close proximity to USC.
Shipping container houses are becoming very trendy around here. Just worked on one in the beach area that's supposed to be in a magazine.
We at the Fraud think that by driving you sheeple into rental units. we are creating a sense of community.
Just another benefit of our god-like monetary powers. Enjoy it! Your next stop is the street, under a bridge, after our grand contract with the devil blows-up in your faces.
I will waive to you from the back of my gubermint limo as you roast rats over the 55 gallon burning garbage drums.
They are building thousands of units in NJ....but no one moves there...people are leaving... Maybe they are concentration camps for OBama rounding up political enemies, Syrian(muslims refugees) welcoming housing or something.
Cogent thought there. The Gimmemint takes in the immigrants and houses them in vacant units and charges the taxpayer, or adds to the deficit, to payolla the rent to well connected providers.
HOMES ARE STILL SELLING IN LAS VEGAS
www.ViewLasVegasRealEstate.com