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dup. weird.

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Huge tax cuts for the very wealthy and the high income business owners. Almost nothing good for anyone else.

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Yeah, it’s a gopher snake. They can be pretty ornery. It doesn’t want anything more from you than you want from it. Just leave it be, unlikely it will stick around for long. Or just move it along with a stick from behind and it will go back where it came from. Approach it from the front and it’s likely to strike.

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[quote=The-Shoveler]LOL everyone is throwing their hat into the ring.

L.A.
Irvine
San Francisco (like they need it)
San Jose (same)

Did not see anything about SD.

It will be very interesting to see where this lands.[/quote]

I think the likelihood of it being any of those is low. There isn’t enough space, and residential costs are way too high.

They take up a massive area just off downtown seattle, and RE prices are LA/SF like there. I think a more likely place for them to end up is somewhere that RE prices aren’t already sky high, and there is plenty of space to expand in center city or other urban setting.

Austin, Atlanta, Memphis, Phoenix, Minneapolis. All possibilities.

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[quote=ucodegen] I assumed all $62mil financed at 4%. [/quote]

Bad assumption. Doesn’t work that way. 4% is reasonable for a SFH. And up to 4 units. Not for anything more than that. Lending for large apartment buildings is often balance sheet lending. 100% debt is rare, even for the most credit worthy. Interest rates vary tremendously between the best and worst, based on relationships and credit worthiness of lender. Most common number I see used lately is 5.5%. Some borrowers could do better. Others can only get higher rates. Most often, rates are not fixed, and loans are 5-7 years.

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[quote=poorgradstudent]Since Trump got rid of Bannon I think his odds of surviving his whole term have improved greatly. He’s pivoting to more of a mainstream Republican, and end of the day he will only be removed if the Republicans want him gone.[/quote]

Exactly where was his pivot? Certainly not in his Phoenix speech last week. EO banning transgender people from the military in opposition to the recommendation of the Pentagon? Pardoning someone convicted of violating the constitution? Is there a mainstream Republican here that agrees with those two moves?

Trump is who he is. He has no policy. None. There will be no pivot. Ever.

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I’m baffled. I’m pretty sure you’re talking about SPY, not SPX. SPX is the S&P 500 Index, SPY trades at 10% of SPX. You could pay .15 for a 160 SPX put, but the likelihood that the market will drop over 90% is slim to none. Buying a 160 SPY is like buying a lottery ticket for the transaction cost. Invest a tiny bit at 200 makes way more sense, and there will be a significant return. I bought OCT contracts at $243 strike and didn’t cost much.

Added: I got out this morning. Cost me $50/contract for a couple weeks of protection.

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[quote=zk]This is the disgusting, pathetic fool that you morons voted for:

https://www.washingtonpost.com/news/powerpost/paloma/daily-202/2017/08/16/daily-202-false-moral-equivalency-is-not-a-bug-of-trumpism-it-s-a-feature/5993b25930fb0433811d6965/?utm_term=.f30316891ac0

If this behavior comes as a surprise to any of you who voted for him, you’re just fucking stupid.

If this doesn’t come as a surprise to any of you who voted for him, you’re a despicable human being for knowing who he is and still voting for him.[/quote]

And they whined about being called deplorable.

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[quote=harvey]American exceptionalism is about culture, which is entirely about our people.

American people are not different from Russians or Chinese people but our culture is very different from any other.

In fact, it’s exceptional.[/quote]

Yeah, exceptional. Elected a racist president. Who tells more than a dozen people who are injured by one of his Nazi followers “best regards”. Exceptional culture.

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For every stupid new tweet, there is a stupid old tweet. Turn, turn, turn.

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[quote=zk]You lost me. The way I read it, he was threatening to use nuclear weapons against them the next time they threatened us. His advisers said, “don’t read anything into” his fire and fury talk/speech which, as far as I can tell, basically means that they’re saying that he didn’t mean what he obviously meant (nuclear attack).

And obviously he didn’t really mean it, because North Korea threatened us a few hours later, and they’re still there.

What do you mean by “distraction?”[/quote]

I’ve heard half a dozen surrogates today. Every one of them says the “fire and fury” part, without hesitation. Some of them use it repeatedly. And then go on to say that it’s not a big deal. As if to say “fire and fury” are no big thing. And they’re right. But those were not the important words. None of them use the words that followed.

And yes, he was either consciously threatening to use nuclear weapons, or is so f’ing stupid, he didn’t realize what the words he used meant.

That he’s not competent is proven once again.

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[quote=zk]”The president’s advisers are warning against reading too much into his ‘fire and fury’ talk against North Korea.”

[/quote]

Distraction. They’re all repeating the “fire and fury” part. That happens all over the world on pretty regular basis. Pretty nebulous words. The real problem were the next few words. “like the world has never seen”. That’s not an attack on a mosque or a church. It’s not driving down a busy street and using a big truck as a weapon. Or an attack with multiple weapons on a night club. It’s not even using deadly gas on your own people, as Assad is accused of doing. The world HAS seen Hiroshima and Nagasaki. His words mean something. They mean something very specific.

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[quote=flu]
Ok, I’ll try calling again. But I already did twice.[/quote]

I’m thinking that calling isn’t what’s necessary. Find the actual document, the MR Bond. Read the language in the bond and find out if there is anything that prohibits early pay-off. That document is binding. Not what someone on the phone says. The servicing agent is (probably) not a party to the contract.

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[quote=flu]You cannot pay off the MR most houses in Carmel V have (at least the MR of San Diegito, and DMUSD). I tried to call to do that, but they don’t allow for that.[/quote]

This doesn’t sound right. MR are special assessment bonds, meaning there is a legal document to back up the assessment. There could be pre-payment penalties, or possibly zero economic advantage, but “cannot pay off” is contrary to every bond document I’ve ever seen. (there are non-callable bonds, if they’re paid off early, they have to continue paying interest anyway.)

It is possible that the bond servicer has a strong motivation to discourage payoffs. I found this link that appears to guide a homeowner in finding the actual bond documents.

https://arcc.sdcounty.ca.gov/Pages/Mello-Roos-Information.aspx

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[quote=phaster][quote=SK in CV][quote=phaster]
given bold statements, care to share any verifiable expertise on the topic, as per piggington forums moto “In God We Trust. Everyone Else Bring data” ???

FWIW the WSJ author seems to have a formal education on applicable topics as well as work experience (and you ???)

[/quote]

Yeah, I’m a CPA. I’ve been preparing and reviewing financial statements for more than 40 years. I don’t report on it. I actually do it.[/quote]

data??? otherwise…

http://www.TinyURL.com/piggington

http://www.TinyURL.com/CalPERSMismanagement%5B/quote%5D

Data? To prove a negative? Sure, there is no data to back up the claim of shadow inventory being hidden in SPE’s. None.

I note that for your source, experience as a journalist is sufficient. But somehow my experience actually doing the work that the journalist writes about is not sufficient.

[Author]

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