There’s always something to howl about.

Category: Group Therapy (page 30 of 81)

Overnight News: Redfin: “Why isn’t this historic seller’s market holding back buyers?” CTRL-F ‘riot’; not found.

“Prices always shoot up for no reason!”

Housing Wire: Fed says expect low rates through 2023. Much better crystal ball than the one we have…

Forbes: Will The Latest Stimulus Proposal Stop A Potential Housing Crisis In 2021?

Redfin: Home Prices Rose 11% in August—Biggest Gain in Over 6 Years.

Housing Wire: More young adults live at home now than during the Great Depression.

Forbes: Topeka, Kansas Is Looking To Lure Remote Workers With A $10,000 Incentive.

Yahoo Finance: Analyst: Neither Trump or Biden care about soaring federal debt, deficit.

City Journal: Apocalyptic rhetoric about climate change is undermining the fight for pragmatic solutions to the West’s fire crisis.

Reason: Homeschooling Hits a Tipping Point.

FEE.org: George Floyd Riots Caused Record-Setting $2 Billion in Damage, New Report Says. Here’s Why the True Cost Is Even Higher.

The Federalist: Study: Up To 95 Percent Of 2020 U.S. Riots Are Linked To Black Lives Matter.

City Journal: Against Wokeness: Conservatives must understand the threat posed by critical race theory.

If you’re an ordinary salesmonster and you rook some sucker into a raw deal, you’re just a sleaze. But if you are fiduciary…

Me, this morning, at LinkedIn:

The words that are going to matter, when all this #iBuyer nonsense all blows up, are: “Agency with an interest.”

“Totally not a clown! In fact, someday soon I’ll be the guest of honor at thousands of lawsuits!”

Real estate brokers are fiduciary. They are obliged as agents to put the interests of their clients ahead of all others – including their own.

Translation: They don’t get to gull their clients to their own benefit, the way other marketers can.

iBuyer with an upgrade? iBuyer with an bridge loan? iBuyer with an upsell to a traditional listing instead?

In which of those scenarios is the iBuyer not blatantly self-dealing.

Want an easy test? Quoting me again, on a huge host of real estate agency issues: “If you have a preference, you have a problem.”

There’s the broker’s duty of supervision in there somewhere, too, but that just seems comical.

In due course, the Designated Brokers at the Realty.bots are going to look a lot like cops this Summer: Fallguys for ploddingly predatory poindexters.

None so deserving, fellas. Unlike the billionaires who made you their bitch, you know the law.

Overnight News: “Yo, incipient hermits! Who craves a mile-high skyscraper?”

“Going up?”

Big Think: Is it possible to build a mile-high skyscraper?

Housing Wire: Bought right out of a job? When one OpenDoor closes… Opendoor announces merger with Social Capital Hedosophia Holdings Corp. in bid to go public.

Forbes: Opendoor’s Cofounder Talks Covid, Growth, And The Quest For Profits As The Company Goes Public.

Housing Wire: The words that are going to matter, when this nonsense all blows up, are: “Agency with an interest.” EasyKnock launches solution that lets homeowners lease back their home after selling.

CNBC: Homebuilder sentiment soars to record high, but lumber prices raise a red flag.

Housing Wire: Mortgage lending volume in 2020 likely to break records.

Connect Media: An monument to a dying industry in a dying location? Los Angeles Approves Tribune’s 56-Story DTLA Tower.

Redfin: Coastal Migrants Boost Las Vegas Home Prices, Up 8% in August, Amid High Local Unemployment Rate.

Housing Wire: Virtual notary adoption surges as businesses rush to close transactions remotely.

Forbes: Stripe Is Offering $20,000 Bonus To Employees Who Relocate To Less Expensive Cities, But It Comes With A Pay Reduction.

Housing Wire: Title insurance premiums surging during COVID-19 pandemic.

RedState.com: 5G – and 10G. Symbiotic Wireless and Wired Internet – And Their Government-Free Miracles.

The Daily Signal: Wildfires Will Get Worse Under Decades-Old Liberal Policies, Veteran Forester Says.

AIER: So You Want to Overthrow the State: Ten Questions for Aspiring Revolutionaries.

Entertainment Weekly: South Park tackling COVID-19 with its first hour-long episode. The trailer:

Overnight News: Entropy’s vengeance.

“Nihil nichts, no?”

Chicago Tribune: The alarming downward spiral of downtown Chicago. Is a comeback possible?

Daily Mail: More people are leaving California than ever before, driven out by worsening wildfires, politics and the skyrocketing cost of living.

RedState.com: A Most American City Becoming Increasingly Unlivable.

The Federalist: What Life Is Like In California’s Post-Apocalyptic Landscape.

City Journal: Let’s Hold On to the Throwaway Society.

Daily Caller: Wildfires Will Become Worse Thanks To Decades-Old Liberal Policies, Says Fire Expert Who Predicted Uptick In Blazes.

Good grief!

Who needs a palate cleanser, some good old fashioned smoke-blowing?

Forbes: 14 Home Upgrades That Will Boost Property Value. Voiceover: “Your mileage may vary.”

What’s the good news, for Monday? Everywhere things aren’t awful, they’re great. Get thee hence and make the most of it!

Unchained Melody: Stumblin’ onto “The Heart of Saturday Night.”

Cathleen and I went on a great big outing today. Big for the Coronavirus-infested world, anyway: We went to the Home Depot in Laveen – 30 treacherous miles from our home, along a fairly new freeway spur. In other words, duck soup in January but somehow a fairly big deal in September.

But what made it an outing was this stupid pandemic, so we made the most of it. Cathleen wore a dress, for goodness sakes. And it put me in mind of this song – as sappy as Tom Waits ever got, but iso granular, so particular, that I feel like we’re right there.

Overnight News: Take that, doubters! All #iBuyers ever needed to succeed was a pandemic, rioting and a buyer feeding-frenzy! Totally sustainable!

“Ya think it’s easy?”

Redfin: Everything about the iBuyers is funny, especially their Special Olympics approach to self-congratulation. Whose listings sell last and worst? But who is delighted to have had a national feeding frenzy to clear their overpriced inventories? iBuyer Activity Ground to a Halt in the Second Quarter, With Market Share Plummeting to 0.1%.

Forbes: Bubbles happen how? Mortgage Interest Rates Reach Another Record Low, Making Buyers Willing To Borrow More.

Redfin: We noted this yesterday: Who can spot the riots in recent closings? Who can anticipate the looming disaster of all the other listings, unreported here, that did not close? Home Prices Up 13%, Biggest Increase Since 2013.

CNBC: Commercial real estate community comes back from Summer vaycay to find its assets incinerated. Real estate CEO: NYC mayor must make streets safer, cleaner so people will want to return.

HousingWire: NAR: 31% of Realtors say they feel unsafe at open houses.

Reason: Who knew? There Is No Defense for Looting.

PJ Media: Weather Underground Terrorist Bill Ayers Suggests the Civil War Has Already Begun.

And because the reincarnation of every sixties wraith is not quite 2020 enough:

BizPacReview: Killer mosquito clouds rise from swamp, descend on Louisiana livestock and drain their blood.

“Now look at this chart and tell me where the riots are…”

I love this image from Redfin:

What is the name of the condition where people lie with their words but tell the truth with their deeds?

Are there riots in America this Summer – despite the overwhelming public denials?

Are those riots affecting real estate choices?

Meanwhile: Who thinks that price trajectory is healthy?

Yeesh! Good time to be a seller – and then a hermit!

Ask the Broker: “Why do people hate Realtors?”

The question is Cathleen’s, and it really plagues her:

“Why do people hate Realtors?”

Why do people hate Realtors? Because they think they’re supposed to…

It’s funny, truly, because almost nobody hates his own Realtor. Some people have real horror stories to tell, but most people don’t. To the contrary, most people have very happy, funny, charming stories to tell about the Realtor who helped them sell or find their home – or who perhaps undertook many transactions over the years.

Straight-commission sales people in general take a hit, not alone because we might seem to be more interested in the commission than in the work it takes to earn it.

And, of course, there have been no end of unflattering portrayals of real estate agents in art – especially TV and movies.

Here’s my best answer, though:

Why do people hate Realtors?

Because they think they’re supposed to…

My 9/11 prayer…

[This is me – Greg – fourteen years ago, when this blog was still a mewling baby. It astounds me to think that the children who were pre-conceptual on 9/11 – aged 0 to 5 – are now the jihadis attempting to destroy Western Civilization from within. We need to do a lot better…]
 

Cathy and I watched The Path to 9/11 on television tonight. I had forgotten that we were in Metro New York for the Turn of the Millennium. My father lives in Connecticut, and we went there that year for New Year’s Day. The photo you see is my son crawling all over a bronze statue of a stock broker in Liberty Park, directly across from what was then the Merrill Lynch Building — on December 30, 1999.

I lived in Manhattan for ten years, from 1976 to 1986. For quite a few of those years, I worked just across from Liberty Park, in the Equitable Building at 120 Broadway. At the other end of that little brick park was the southeast entrance to the World Trade Center complex.

I worked insane hours in those days, and, very often, when I got out of work, I would go sit at this tiny circular plaza plopped down between the Twin Towers. Not quite pre-dawn, still full dark, but completely deserted — and to be completely alone in New York City is an accomplishment. I would throw my head back and look up at the towers, the fourth movement of the Ninth Symphony running note-perfect through my head.

Everything I am describing was either destroyed or heavily damaged on September 11, 2001. Along with the lives of thousand of innocents. Along with the comfort and serenity of their families. Along with the peace of the entire world.

I don’t believe in any heaven except for this earth, this life — the heaven we make every day by pursuing the highest and best within us. The World Trade Center had its faults. I can detail every one. But it was a piece of the sublime, a proud testament to how high, how good our highest and Read more

When the punters come out to play, are they tugging a real estate bubble behind them?

Q: Why is it so hard to buy at the top?
A: That’s how you know it’s the top.

Who’s listing actual fee-simple dirt? Could life get any better? Representing hypothetical cubes of air-space amidst spookily-vacant concrete canyons? Not so much.

I just heard that J.P. Morgan is calling its people back to the office, so maybe vertical cities are not dead yet. My bet runs the other way, and, doubling-down, that employers incur liability by requiring attendance in dangerous locales.

Cinemas and shopping malls were dying, anyway. So, too, cities? A way of thinking of this urban exodus is simply as a matter of economic obsolescence: What is generally the oldest and most decrepit segment of the housing stock is being abandoned.

That pushes up prices in the suburbs, don’t it? “Gimme land, lotsa land, under smoggy skies above – and don’t dance so close to me!”

I thought we were pushing the top of this market turn before Coronavirus hit. That foreign import was killing big cities even before the rioters started burning them down. Accordingly, there won’t be a top in Phoenix for a while, where March of 2020 may be the high-water mark for decades for many great American cities.

But the thing about market tops is, they advertise themselves: Rapid price jumps, low inventory, bidding wars, waived contingencies, escalator clauses, solemn pre-dawn ungulate sacrifices, etc.

Again, not there, but very much here – and everywhere suburban parcels abound.

Here’s another characteristic of market tops, one we were all very well paid to overlook in the housing bubble of this century’s toddler years:

The real estate market tops when even the most marginally-prepared borrowers compete for and get mortgages.

What’s a bubble? It’s when the bike messengers and coffee shop waitresses come down to Wall Street with their mattress money. Wait, that’s a dated image. How about this? A bubble is when lifelong renters become very temporary homeowners. No, that was the last time. Try this: A bubble is when forty-year-old adolescents emerge from mom’s basement just long enough to sign socially-distanced closing docs in a title company’s parking lot.

My point would be that, Read more

Overnight News: If your houses aren’t evaporating, your taxpayers are.

“What’s new, nu?”

Hoover Institution: California Businesses Leave The State By The Thousands.

Housing Wire: U.S. mortgage rates fall to all-time lows this week.

CNBC: The CDC banned evictions, but some renters are still vulnerable.

Forbes: What It Might Mean If We All Work From Home?

City Journal: What the Trump Eviction Ban Gets Wrong.

City Journal: New York City at the precipice: A Tale of Two Cities, Indeed.

CNBC: Manhattan rental market plunges, leaving 15,000 empty apartments in August.

And for hard-working grunts on the ground who have found a praxis that pays…

UPI: Virginia man buys 20 lottery tickets, wins 20 times.

Unchained Melody: The DISC of “Darling Be Home Soon.”

The original is pure Di, as are the lyrics: Busy musician home briefly imposes ardent deadlines. It’s truly great that way, an abrupt and demanding lust, and the sheer urgency rends fabric. Artie Schroeck did the original arrangements – and he’s there in all the covers.

Joe Cocker takes and remakes the song – just like always – turning it into the Si viscera of wide-open yearning.

Susan Tedeschi delivers the Joe Cocker vocal performance, but it is Derek Trucks who shows us how Cs the love in that lyric can be.

“We are easy prey” – Propositions Three and Seven by Richard Mitchell

Propositions Three and Seven from The Graves of Academe by Richard Mitchell

 
In the country of the blind, the one-eyed man is, as we all know, king. And across the way, in the country of the witless, the half-wit is king. And why not? It’s only natural, and considering the circumstances, not really a bad system. We do the best we can.

But it is a system with some unhappy consequences. The one-eyed man knows that he could never be king in the land of the two-eyed, and the half-wit knows that he would be small potatoes indeed in a land where most people had all or most of their wits about them. These rulers, therefore, will be inordinately selective about their social programs, which will be designed not only to protect against the rise of the witful and the sighted, but, just as important, to ensure a never-failing supply of the witless and utterly blind. Even to the half-wit and the one-eyed man, it is clear that other half-wits and one-eyed men are potential competitors and supplanters, and they invert the ancient tale in which an anxious tyrant kept watch against a one-sandaled stranger by keeping watch against wanderers with both eyes and operating minds. Uneasy lies the head.

Unfortunately, most people are born with two eyes and even the propensity to think. If nothing is done about this, chaos, obviously, threatens the land. Even worse, unemployment threatens the one-eyed man and the half-wit. However, since they do in fact rule, those potentates have not much to fear, for they can command the construction and perpetuation of a state-supported and legally enforced system for the early detection and obliteration of antisocial traits, and thus arrange that witfulness and 20-20 vision will trouble the land as little as possible. The system is called “education.“

Such is our case. Nor should that surprise anyone. Like living creatures, institutions intend primarily to live and do whatever else they do only to that end. Unlike some living creatures, however, who do in fact occasionally decide that there is something even more to be prized than their own survival, Read more

Splendor on – and in spite of – Labor Day.

Labor Day is a holiday established by people who hate human productivity, who hate the human mind. It is a day set aside on the calendar to celebrate and sanctify indolence – and violence. Photo by: Karen Horton

This is me looking back on looking back on a Labor Day a long time ago. The first extract was written on Labor Day, 2005, as the City of New Orleans was demonstrating for all of us that dependence on government is a fatal error. The second extract was written a year or two before that. And the Labor Day I am talking about there was years before that. Even so, every bit of this is perfectly apposite to the world we live in now – more is the pity.

This is me from elsewhen. I think about this every year at Labor Day. I spent much of the weekend working on business planning issues, macro, micro and meta. I remember from the days when I had a job how much I relished long weekends, because I could build so much on vast tracts of uninterrupted time. I did a bunch of money work last week, but my weekend was virtually my own – to fill with the work that too often takes a back seat to money work. Off and on we had Fox News on in the office, and the whining, pissing and moaning was an effective counterpoint to my entire way of life. My world is where the Splendor is, no alternatives, no substitutions, no adulterations, no crybaby excuses:

The time of your life is your sole capital. If you trade that time in such a way that you get in exchange less than you really want, less than you might actually have achieved, you have deliberately cheated yourself. You have acted to your own destruction by failing to use your time to construct of your life what you want most and need most and deserve most. You have let your obsession or anger – over what amounts to a trivial evil in a world where people are shredded Read more

Unchained Melody: “Timing Is Everything” – except so is everything else.

This is Garrett Hedlund, who played Patroclus in Troy, doing one of the gut-wrenching songs from Country Strong – which is free just now on IMBD.

I love the granularity and particularity of the images, but you get to see the song being improved in the movie:

They’re arriving at the lyrics used in the the Garrett Hedlund recording, which are a substantial improvement on the original:

I could cite a number of examples, but the one that stands out is Gwyneth’s turn:

Original: “I remember that day when we first met.”

Country Stronger: “I remember that day when our eyes first met.”

That’s how good poetry gets better, and that kind of focus on mission-critical improvements is how everything gets better.