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New York Luxury Housing Bubble On Steroids: 15 CPW Flipping Returns 192% In 5 Years

Tyler Durden's picture


"It's defining a new category in real estate" is how the ultra-luxury apartment business is seen in New York. Goldman's Lloyd Blankfein and his buddies (including Sting) at 15 Central Park West are set to double their money as Bloomberg reports four condos in the Richie-Rich style extravaganza of a building have hit the market at asking prices at an average 192% over what owners paid in 2007 and 2008. The most expensive (a five-bedroom 35th floor pied-a-terre), topping Oaktree's Howard Mark's previous $52.5mm record purchase at 740 Park, is priced at a stunning $95mm. Testing the glass ceiling of a $100mm apartment is nothing though - as just like the rest of the nation's apparent house price recovery 'tight supply is supporting the current spate of eye-popping asking prices' which obviously will mean an influx of 'very expensive' inventory hitting the market in the coming years. For $95mm we wondered exactly what the apartment comes with? Perhaps $90mm of gold bars on the coffee-table? Perhaps Hugh Verrier and his wife Celia sum up the largesse perfectly: "we just thought of it as a living space". Indeed, Hugh, indeed.


As JPM noted today - with regard the broad 'housing recovery':-

The recent rise in home prices are a result of record low housing inventory and improved distressed sales, not an increase in demand;


Net demand (3.2m in June) driven by 3.2% decline in inventory, which has fallen 24% YoY


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Fri, 08/17/2012 - 10:19 | 2714006 Precious
Precious's picture

Stimulus.  See.  It's working.

Fri, 08/17/2012 - 10:20 | 2714007 greased up deaf guy
greased up deaf guy's picture

damn, it pays to be a bankster.

Fri, 08/17/2012 - 10:24 | 2714022 Papasmurf
Papasmurf's picture

A deal made with the devil.

Fri, 08/17/2012 - 10:39 | 2714071 MillionDollarBonus_
MillionDollarBonus_'s picture

The short sellers are hammering Facebook again this morning ... where is the SEC when this kind of manipulation is going on!??

Fri, 08/17/2012 - 10:43 | 2714086 Precious
Precious's picture

My thesis is shot.   Trolls don't lay in bed all morning.

Fri, 08/17/2012 - 10:44 | 2714096 Stackers
Stackers's picture

And at one time the Japanese Imperial Palace was worth more than the entire state of California. What goes up - comes down.

Fri, 08/17/2012 - 10:56 | 2714118 CIABS
CIABS's picture

MDB:  Aren't they mainly in Washington and New York?

Fri, 08/17/2012 - 11:18 | 2714179 FEDbuster
FEDbuster's picture

Just think someday in the near future they won't be able to trade their pied-a-terre for forty acres of productive farm land with a stream running through it.  Just think of the self-sufficient set-up one could buy and build with a few million FRNs right now....

Fri, 08/17/2012 - 11:34 | 2714218 zaphod
zaphod's picture

My understanding is Japan's bubble popped when real estate reached $100B per acre. 

With these prices in apartments NYC seems to be around there now. Good luck with that. You could have bought 100,000 acres of working land in the west for the price of that 1 apartment.

Fri, 08/17/2012 - 12:04 | 2714253 jowenchrist
jowenchrist's picture

doubt that "They" would know what to do with 10 acres of good land let alone 100,000. it is to laugh.

Fri, 08/17/2012 - 12:06 | 2714313 FEDbuster
FEDbuster's picture

Agreed, but with that kind of money, one can always hire some good help.  Reminded me of the story someone else told here of the hedge fund manager who had a plantation in Barbados.  He has a staff that runs it, and they ship fresh food from there every couple of weeks for him and a his family.  All organic meat, vegetables, fruit, etc....

Fri, 08/17/2012 - 13:40 | 2714709 vato poco
vato poco's picture

Yeppers, I'd say that article right there will (later) be seen as the absolute high-water mark of the (soon to burst) NYC high-end bubble. Anytine R.E. folks use that phrase "Defining a new category in real estate", look out below. They said it in Houston in 1979. Tokyo in 1989. Vegas in 2006. ZH (and experience) teaches us again & again: ain't no such thing as a long-term parabolic curve.

Fri, 08/17/2012 - 10:44 | 2714099 Popo
Popo's picture

MDB --

It was funny for a while.  But it's getting long in the tooth, bro.   Seriously.   Give it a rest. 

Sat, 08/18/2012 - 05:21 | 2716254 jeff montanye
jeff montanye's picture

i for one welcome his take.  especially the "frustration" at the "lax" regulation out of washington.

imo he will have some more short sellers at whom to "rage" before winter. 

Fri, 08/17/2012 - 10:45 | 2714101 tocointhephrase
tocointhephrase's picture

You poor thing, are all you friends selling, never mind!

Fri, 08/17/2012 - 11:04 | 2714146 Robot Traders Mom
Robot Traders Mom's picture

MDB, come back to bed and lay down with me.


You wore me out last night.

Fri, 08/17/2012 - 11:10 | 2714164 Dr. Engali
Dr. Engali's picture

Okay that put a rather disturbing image in my head. Even more disturbing than your avatar.

Fri, 08/17/2012 - 11:45 | 2714245 jowenchrist
jowenchrist's picture

at least MDB has a sense of humor... i mean really that's funny shat!

Fri, 08/17/2012 - 16:50 | 2715338 smiler03
smiler03's picture

I think you mean "droll", it rhymes with "troll". Funny it isn't, it's just a waste of space.

Fri, 08/17/2012 - 17:25 | 2715431 redd_green
redd_green's picture

Hey Million,  SEC, you kidding?   Facebook stock is junk.    Worth a solid ten cents a share, long term.  And that's after a few dozen reverse splits.    And Zuckerb dumps a few more billion.    Talk about junk.

Fri, 08/17/2012 - 10:48 | 2714109 Jason T
Jason T's picture

See someone else has read Faust

Fri, 08/17/2012 - 12:06 | 2714311 palmereldritch
palmereldritch's picture

Richie Rich ain't lookin so good these days....

Fri, 08/17/2012 - 10:29 | 2714040 smlbizman
smlbizman's picture

what are the odds their real estate taxes are subsidized......

Fri, 08/17/2012 - 10:44 | 2714090 Tippoo Sultan
Tippoo Sultan's picture

Only an arrogant fool would pay $95 million to live in that crowded, filthy city.

Fri, 08/17/2012 - 10:53 | 2714110 Popo
Popo's picture

Actually, stories like this don't bug me at all.   What makes me angry is when guys like Ted Turner buy up a couple hundred thousand acres of farmland with amazing water rights.   Or when billionaire assholes bid up the price of the things that I consume.

But if some jackass wants to blow $95 million on a cheesy McMansion in the sky because his wife wants to be in "the" building, then that's fucking great.  Seriously, have fun with it.   It has zero bearing on the world economy.  I wish him and his stepford wife many happy catered evenings.  

...  A fool and his money and all that.    

It goes to show that it sure wasn't intelligence that made him rich...

Fri, 08/17/2012 - 10:56 | 2714129 redpill
redpill's picture

Anything over two stories should do the trick so that when they decide they can't possibly go on living when their false world starts to tear apart, the fall will be sufficient ensure that there won't be any pathetic whining or requirements for tending.

Fri, 08/17/2012 - 13:08 | 2714591 poor fella
poor fella's picture

It's hard not to have empathy though.

I would take the shirt off my back, fold it up, and lay it on the sidewalk to break their fall.

Fri, 08/17/2012 - 14:14 | 2714797 Umh
Umh's picture

I've heard that it takes seven stories and landing on an unyielding surface to be reasonably sure.

Fri, 08/17/2012 - 10:58 | 2714133 diogeneslaertius
diogeneslaertius's picture

you sir, are excellent

Fri, 08/17/2012 - 11:18 | 2714181 Neethgie
Neethgie's picture

If i was a billionaire id buy fuckloads of farmland, because then i could look accross my domain, like some kinda pimp ass medieval lord.

In nyc your paying for a few sqft what a waste of money, the thing thats ironic really is your not buying it for yourself you are buying it for the image that it supposedly suggests about you (emporors new clothes sorta shit really)

Fri, 08/17/2012 - 14:23 | 2714823 monad
monad's picture

Apparently, any fool will do. Its just that there are so many, the rich ones get fleeced first.

Fri, 08/17/2012 - 10:41 | 2714081 Hippocratic Oaf
Hippocratic Oaf's picture

Not only does it pay to be a bankster, but the .00001% are making these types of trades. Don't think the rest of the city is this way, it's not. The seperation of class is stretching to the point of breaking. Many in my field (finance) are leaving the city and have been for years. Low income housing next door to $9000 a month rent is not what I'd call 'making it' in New York. Giuliani cleaned it up, F-Bloomy put a nipple on it. 

Big $$$ from Russia, China, Europe etc. is gobbling up all the prime, hi-end real estate, pushing the prices to new levels: this was certainly not the case years ago. Rich moms and pops in Flyoverlandia, USA are sending their spoiled man childs to new hippster Brooklyn, fucking that area up completely. They don't work, that is an ongoing trend everywhere else around the city. BUT.......they sit in coffe shops and 'hip' restaurants all fuckin' day on their $500 phones and $1000 IPads, sippin $6 coffee and wearing $300 jeans. When they're done, they'll get on their bikes and ride against traffic, running red lights in the bike lanes that Bloomberg provided.

I don't like the NYC now that has changed so much in 15 years. Overpriced and out of touch.

Fri, 08/17/2012 - 12:20 | 2714371 walküre
walküre's picture

You're not David Letterman, are you?

Fri, 08/17/2012 - 11:02 | 2714143 Dr. Engali
Dr. Engali's picture

It only pays if you are willing to sell your soul. Otherwise moral values of any sort are an impediment to being a successful banker.

Fri, 08/17/2012 - 11:52 | 2714259 FeralSerf
FeralSerf's picture

Zionists don't have moral values to get in the way of them being a "successful" banker.  Real the Talmud if you have any doubt.

Fri, 08/17/2012 - 20:58 | 2715868 monoloco
monoloco's picture

When open season is declared on bankers, Manhattan real estate values will plummet. Now's the time to start investing in secure walled compounds. 

Fri, 08/17/2012 - 10:24 | 2714020 Divided States ...
Divided States of America's picture

Yeah these greedy bastards' home sales definitely pulls up the average home sale price by a ton.

Fri, 08/17/2012 - 10:22 | 2714010 Abraxas
Abraxas's picture

I don't know. There's lots of $$$ coming to NY from all over the world. I don't think it's a bubble, but then again, what do I know.

Fri, 08/17/2012 - 10:28 | 2714037 Stock Tips Inve...
Stock Tips Investment's picture

Not appear to be a bubble. The market bubbles are widespread processes that are formed over several years. These examples seem specific cases that may have a different explanation.

Fri, 08/17/2012 - 10:24 | 2714021 ArrestBobRubin
ArrestBobRubin's picture

Ahh, the bountiful fruits of Gods Work, displayed in all their glory.

Fri, 08/17/2012 - 10:32 | 2714025 Mercury
Mercury's picture

Not necessarily a bubble: like London, NYC is rapidly becoming a quasi-independent city-state.

Complete with the personal, dictatorial whimsies of its sovereign head of course.

Fri, 08/17/2012 - 10:57 | 2714130 Popo
Popo's picture

Don't kid yourself.  Most of NYC does not work on Wall Street.   And remember just 30 years ago when NYC was dangerous because crime was out of control?   Yeah, well those poor people haven't gone anywhere either.  

And with unemployment ticking up... the "city state" isn't going to be a place with lots of neighborly love.   The crime explosion is coming...  Tick...tick...tick....



Fri, 08/17/2012 - 11:28 | 2714215 LarryDavis
LarryDavis's picture

I live 20 mins outside the city (roughly 15-20 miles from midtown) and there have been a record number of homicides in my town so far this year. 

Fri, 08/17/2012 - 12:07 | 2714316 Hippocratic Oaf
Hippocratic Oaf's picture

You're right Popo, it is only getting started. There's a lot of stressed out motherfuckers in New York right now.

I see more break-ins, more violence, more dependance on govt.

I can only assume other major cities will be subject to the same. The true middle class and taxpayers are leaving, TPTB know this. The super -rich (that buy these way overpriced apts.) don't live here, for the most part, and spend money and the poor obviously don't have it to spend.

The tax-base is deteriorating

Fri, 08/17/2012 - 12:34 | 2714432 Fred Hayek
Fred Hayek's picture

Oh please.  New York is the most DEpendent city in the U.S.

Does New York city produce its own food?

Does New York city have its own water supply within its boundaries?

Does New York city have its power supply generation within its boundaries?

Fri, 08/17/2012 - 16:55 | 2715353 smiler03
smiler03's picture

What a stupid comment. Did you think about it all?

Sat, 08/18/2012 - 10:49 | 2716463 HungrySeagull
HungrySeagull's picture

Hundreds of semi trucks deliver food, meat, grocery and produce each night and into the early hours prior to sunrise.

Look up or visit Hunt's Point Market as a example of how things get done up there.

Fri, 08/17/2012 - 12:49 | 2714519 walküre
walküre's picture

"quasi-independent city-state"

Not independent. Very much dependent on the rest of the country to supply the citizens of the city with food.

Easily cut-off and even easier besieged. Ghetto comes to mind.

Fri, 08/17/2012 - 10:25 | 2714026 Spider
Spider's picture

I cant wait until that trickles down to me - I wonder how much of that $95mm i'll get...

Fri, 08/17/2012 - 10:26 | 2714032 the not so migh...
the not so mighty maximiza's picture

95 pennies and a kick in the ass

Fri, 08/17/2012 - 16:56 | 2715355 smiler03
smiler03's picture

Another day older and deeper in debt.

Fri, 08/17/2012 - 10:29 | 2714041 Abraxas
Abraxas's picture

Yeah, I already borrowed against it to buy me a bigger TV.

Fri, 08/17/2012 - 10:32 | 2714048 ebworthen
ebworthen's picture

Three drops, hopefully not in the eye.

Fri, 08/17/2012 - 10:25 | 2714027 MFLTucson
MFLTucson's picture

Goldman's Lloyd Blankfein and his buddies (including Sting) at 15 Central Park West are set to double their money as Bloomberg reports four condos in the Richie-Rich style extravaganza of a building have hit the market at asking prices at an average 192% over what owners paid in 2007 and 2008.



Fri, 08/17/2012 - 10:28 | 2714036 the not so migh...
the not so mighty maximiza's picture

There are christian bloodsuckers involved as well.

Fri, 08/17/2012 - 10:30 | 2714042 MFLTucson
MFLTucson's picture

Name them.

Fri, 08/17/2012 - 10:43 | 2714079 MFLTucson
MFLTucson's picture

Hey jokester, this is not about the 10 largest Real Esate brokers in New York.  Can't you read?  Its about crony capitalism and about the gangsters who ruined your future.  Wake up!

Fri, 08/17/2012 - 11:02 | 2714139 Popo
Popo's picture

99% of jewish people aren't even involved in finance.  So what's your point about religion?   These asshole bankers are also American.  ..And you're American.  ...So by you're logic of guilt by association,  are you also an asshole?

Fri, 08/17/2012 - 11:28 | 2714213 gunsmoke011
gunsmoke011's picture

Always hate to take issue with people on a public forum - but your logic is flawed IMO. It is like the "All Muslims Aren't Terrorists" argument. While True - it is pretty much accepted that virtually All Terrorists are Muslims -- UNLESS of course you are talking about Wall Street Terrorists and Central Bank Terrorists - then we are talking about a whole different kettle of fish. I limit my example to the kinds of folks that blow themselves up so they can get to their virgins.

Fri, 08/17/2012 - 11:36 | 2714227 MFLTucson
MFLTucson's picture

It is like the "All Muslims Aren't Terrorists" argument. While True - it is pretty much accepted that virtually All Terrorists are Muslims..."


On point!

Fri, 08/17/2012 - 11:33 | 2714220 MFLTucson
MFLTucson's picture

What you really meant was 99% of the banks are run by Jewish people, ...right?  This isn't about the average run of the mill good Jewish family, this is about the Jewish gangsters who have ruined the global economy.
$1. Rothschild Banks of London and Berlin.
$2. Lazard Brothers Banks of Paris.
$3. Israel Moses Seif Banks of Italy.
$4. Warburg Bank of Hamburg and Amsterdam.
$5. Lehman Brothers of NY.
$6. Kuhn, Loeb Bank of NY (Now Shearson American Express).
$7. Goldman, Sachs of NY.
$8. National Bank of Commerce NY/Morgan Guaranty Trust (J. P. Morgan Bank - Equitable Life - Levi P. Morton are principal shareholders).
$9. Hanover Trust of NY (William and David Rockefeller & Chase National Bank NY are principal shareholders).
1791-1811: Rothschilds' First Bank of the United States.
1816-1836: Rothschilds' Second Bank of the United States.
1837-1862: Free Banking Era - no formal Central Bank through the efforts of President Andrew Jackson.
1862-1913: System of National Banks through the efforts of President Andrew Jackson.
1913-Current: Federal Reserve Act effects a consortium of privately held Jewish & associated banks called the Federal Reserve Bank. The largest shareholders of the Federal Reserve Bank are the Rothschilds of London holding 57% of the stock which is not available for public trading.
On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. A smear campaign against McFadden ensued and he was poisoned 3 years later.
Here are the Jews that control the government of America:
1) Ben Shalom Bernanke: Chairman of the Board of Governors of Federal Reserve. Term ends 2020.
2) Donald L. Kohn: Vice Chairman of the Board of Governors of Federal Reserve. Term ends 2016.
3) Randall S. Kroszner: Member of Board of Governors of Federal Reserve.
4) Frederic S. Mishkin: Member of Board of Governors of Federal Reserve. Term ends 2014.
5) Alan Greenspan: Advisor to Board of Governors of Federal Reserve. Recent Chairman.

Fri, 08/17/2012 - 11:42 | 2714243 gunsmoke011
gunsmoke011's picture

Exactly. Not in any way meant to be seen as an Anti - Semitic remark. Plenty of good jewish people out there. It is just a fact that when it comes to money and diamonds - well - it is what it is.

Fri, 08/17/2012 - 12:03 | 2714299 FeralSerf
FeralSerf's picture

Those "Jews" are in no way Semitic.  They are the most Anti-Semitic bunch of scumbags in the world.  They have hijacked Judism as a cover.  They are imposters -- frauds -- like many criminals.

Fri, 08/17/2012 - 12:24 | 2714386 walküre
walküre's picture


Keep posting the FACTS!

Fri, 08/17/2012 - 12:51 | 2714529 walküre
walküre's picture

Any Jewish carpenters left?

Fri, 08/17/2012 - 14:04 | 2714761 Whiner
Whiner's picture

Correct, Sir. Also be mindful that Jesus Christ of Nazareth is a Jew and He's coming back to judge the world including you and Zionist. His disciples are Kosher Jews and they will rule over the Twelve Tribes. It ain't gonna be pretty. Get ready. Your gold won't help you, but meantime be wise as serpents-keep stacking. Give some to the poor. They're gonna get plastered.

Fri, 08/17/2012 - 10:44 | 2714095 Colonel
Colonel's picture

Hey guy, don't see anything there about them being Christians?

Fri, 08/17/2012 - 10:57 | 2714132 MFLTucson
MFLTucson's picture

This was a classic liberal answer with no facts; did you really expect this was a supported statement?

Fri, 08/17/2012 - 10:39 | 2714072 aka Gil
aka Gil's picture

And cocksuckers as well.

Fri, 08/17/2012 - 10:49 | 2714112 Monedas
Monedas's picture

All envy is a variation of penis envy .... don't be so eager to show your hand .... it doesn't become you !

Fri, 08/17/2012 - 10:29 | 2714035 sabra1
sabra1's picture


Fri, 08/17/2012 - 10:28 | 2714038 whoopsing
whoopsing's picture

Someone will pay the  ninety -five mill and then gut the place because it does'nt 'feel 'right, then put another ten mill. or so into it

Fri, 08/17/2012 - 10:28 | 2714039 Blopper
Blopper's picture

Same story as told by Rothschild, if I remember correctly, about a person selling his horse to a friend for $1million and then buy it back for $1.1million and then spread the news that he just bought a horse for $1.1million.

Fri, 08/17/2012 - 10:30 | 2714043 Hype Alert
Hype Alert's picture

It seems the HFT circle jerk selling at ever higher prices isn't limited to stocks.

Fri, 08/17/2012 - 10:30 | 2714044 Ricky Bobby
Ricky Bobby's picture

Who says central planning does not work, housing recovery achieved as planned.

Fri, 08/17/2012 - 10:34 | 2714054 taketheredpill
taketheredpill's picture

Looks like people with real money are buying real assets.  While I prefer vacant land myself, condos might be a store of value too.  Will they fall in price? For sure.  Will prices go to Zero?  Unlikely.  So it makes more sense than a lot of other "assets".

Conceivably though, if the Fed decides to go all-in and destroy the dollar, the nominal price might go up.




Fri, 08/17/2012 - 11:19 | 2714186 Big Corked Boots
Big Corked Boots's picture

$95 mil buys you either a couple thousand sf with a fashionable address or 20 sections of prime Iowa farmland. Which is the better asset? Dollar destruction or not, people gotta eat.

Put another way, I will never have to sell my silver eagles for face value. Ever.

Fri, 08/17/2012 - 10:38 | 2714067 Dr. Engali
Dr. Engali's picture

$95 million...friggen ridiculous. I'd like to see these guys relegated to live in one of the old Detroit factories they helped to hollow out.

Fri, 08/17/2012 - 11:03 | 2714147 stickyfingers
stickyfingers's picture

Or maybe a little fixer-upper they can flip.

Fri, 08/17/2012 - 10:38 | 2714069 Colonel
Colonel's picture

broad 'housing recovery'...


 Right, just like the 'broad employment recovery.' Lying azzwipes.

Fri, 08/17/2012 - 10:39 | 2714073 Cow
Cow's picture

If I lived in Greece or Spain and wanted to get my money out fast, this would be a pretty good option.

Fri, 08/17/2012 - 10:41 | 2714078 UTICA CLUB XX PURE

At the end of the night your still just drooling on a pillow. Who need it? Not me...

Fri, 08/17/2012 - 10:44 | 2714097 Lofty
Lofty's picture

Won't be long before they have to put a wall around to keep the riff-raff out

Fri, 08/17/2012 - 10:46 | 2714102 Monedas
Monedas's picture

The rich open their kippers with the same pull tab as the poor use .....  where's the humanity here ?

Fri, 08/17/2012 - 10:47 | 2714105 tekhneek
tekhneek's picture


1. SHOCKER: No one's going to be charged in MF Global "vaporized" funds "mishap":

2. Ann Barnhardt and Warren Pollock (16 minute video) on the 7th District Court's ruling in favor of a bank using customer segregated funds claiming it was not unlawful. This is the official greenlight Ann's saying to pillage and pillage they will.

3. Finland preparing for Euro Breakup:

4. Social Security Administration explains purchase of 174,000 rounds of .40 S&W Hallow Point Ammunition:

Fri, 08/17/2012 - 11:32 | 2714217 Getting Old Sucks
Getting Old Sucks's picture

Having recently visited my SS office, it looked like I was one of a very few applying for SS.  Most appeared to be there for food stamps, disability, or supplementary income (welfare I guess).  While waiting, I couldn't believe the outburst of many who were apparently rejected.  There was a guard there but didn't see a weopon.  I buy their excuse for ordering ammo.  However, I don't feel too comfortable about DHS's order.

Fri, 08/17/2012 - 12:15 | 2714344 Freddie
Freddie's picture

Illegal aliens never get rejected.  they get SSI, SSI diability, welfare, food stamps, housing voucher and the list goes on and on.  They are the muslim's people.

Fri, 08/17/2012 - 17:06 | 2715380 smiler03
smiler03's picture

Apart from the unlucky estimated 400000 that get deported. That's about to change though, maybe?

Fri, 08/17/2012 - 18:34 | 2715618 cameldojo
cameldojo's picture

Good word.... diability

Obtaining disability through diabolical means...

Fri, 08/17/2012 - 20:46 | 2715850 optimator
optimator's picture

And if you're there to file for you SS payments, you go to the end of the line and watch the trash get special treatment.

Fri, 08/17/2012 - 10:48 | 2714111 TahoeBilly2012
TahoeBilly2012's picture

Facebook stock pump and dump, rolled over into Central Park West.

Fri, 08/17/2012 - 10:55 | 2714122 Monedas
Monedas's picture

Well, the poor have been known to eat sardines !           Seriously, fellow hoarders, don't we aspire to be comfortable, too ?

Fri, 08/17/2012 - 10:57 | 2714131 Doubleguns
Doubleguns's picture

The billionairs are buying out the millionairs. Where is a self respecting millionair to live now.

Fri, 08/17/2012 - 11:21 | 2714187 Unbezahlbar
Unbezahlbar's picture

"Never been a better time then to launder money in RE."


I'm surprised the Feds have not cracked down on this yet. If nothing else, tax ANY money from overseas a 5-10% surcharge when it buys RE here. It'll help the deficit, too.

Fri, 08/17/2012 - 11:23 | 2714197 foodstampbarry
foodstampbarry's picture

If I were a bankster, I'd be looking for prepper property on mars.

Fri, 08/17/2012 - 11:38 | 2714232 Bartanist
Bartanist's picture

Is it only me or do others think that the last place you want to be living is in a high-rise on Central Park West when "the shit hits the fax"?

And where were you when the lights and communications went out?

... priceless.

Fri, 08/17/2012 - 12:07 | 2714315 Yardfarmer
Yardfarmer's picture

Why should I fear in evil days 

the malice of foes who surround me,

men who trust in their wealth,

and boast of the vastness of their riches?


For no man can buy his own ransom, 

or pay a price to God for his life.

He cannot buy life without end,

nor avoid coming to the grave.


He knows that wise men and fools both perish

and leave their wealth to others.

Their graves are their homes for ever,

their dwelling place from age to age,

though thier names spread wide through the land.


In his riches, man lacks wisdom:

hi is like the beasts that are destroyed.



Then do not fear whan a man grows rich,

when the glory of his house increases.

He takes nothing with him when he dies,

his glory does not follow him below.


Though he flattered himself while he lived:

"Men will praise me for all my success,"

yet he will go to join his fathers,

who will never see the light any more.


In his riches, man lacks wisdom:

he is like the beasts that are destroyed. 

Fri, 08/17/2012 - 13:07 | 2714581 24KGOLD FOIL HAT
24KGOLD FOIL HAT's picture

Yardfarmer, Thank you, friend!   Ultimate perspective always makes my day.  I'd rather be in a tent than 15 C P West.

Psalm 15

O Lord, who may [a]abide in Your tent?

Who may dwell on Your holy hill?

He who walks with integrity, and works righteousness,

And speaks truth in his heart.

He does not slander [b]with his tongue,

Nor does evil to his neighbor,

Nor takes up a reproach against his friend;

In [c]whose eyes a reprobate is despised,

But [d]who honors those who fear the Lord;

He swears to his own hurt and does not change;

He does not put out his money [e]at interest,

Nor does he take a bribe against the innocent.

He who does these things will never be shaken.


Fri, 08/17/2012 - 12:13 | 2714339 Freddie
Freddie's picture

Sting is a real libtard piece of shit who loves the Chicago muslim

Fri, 08/17/2012 - 12:43 | 2714481 walküre
walküre's picture

We need wealth redistribution. Either they give it up voluntarily or the masses will come and take it. No military or police will stop the masses. It has never worked in history. When the scam and fraud committed by a few elite people becomes blatantly obvious. When they have the means to flaunt inconceivable and incomprehensible wealth and status, their days are numbered. Mark my words, folks.

NY is a powder keg and so is the rest of the country. Stories like these just add to the scale that will tip one certain day.

Imagine you have access to a "Dream Machine" that lets you create as much currency as you like for yourself, your relatives and your closest friends. You have established the currency and have mechanisms in place to enforce the acceptance of said currency for everyone else's goods and services. The currency is just as ficticious as the governments and nations you've bought and paid for. You have the world convinced that this is real money and human nature aka greed is helping you along to spread the influence and power of your currency.

If you're a farmer, a producer and you STOP accepting THEIR currency for YOUR hard work and products then what are they going to do? They will crap their pants. If you're a miner and you STOP working in THEIR mines and STOP supporting THEIR "Dream Machine", then what are they going to do?

The life in a fancy penthouse in Central Manhattan can be very desolate if there's no food, no running water, no power.

We can only achieve equality and equal opportunity if we cut off their supply side and destroy their "Dream Machine".

Will we, though? Will we have the guts to take matters into our hands and cut them off?

Fri, 08/17/2012 - 13:44 | 2714720 Enceladus
Enceladus's picture

Two words: controled demolition

Fri, 08/17/2012 - 17:44 | 2715488 batz
batz's picture




I'm all for free speech in public, but ZH isn't public. One of the first ways the media and others Tyler pisses off can get back at him is by flooding this site with anti-semitic and other extremist remarks. It's exposes other readers to reputational risk that will isolate Tyler because nobody wants to be associated with extremist anything.  Once he is isolated,  ZH is finished. 


The good news is that clearly they have let loose the trolls of war. Congrats, you've arrived. But now you are an arriviste. 




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