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Everything posted by samsonh

  1. Can you show us the stats you are using for the things you think are bad. Link to them please.
  2. Based upon permits it looks like the conversion was more in the 35-40 million range. Plus 18.2 paid for the property. It surely has been profitable in the meantime as hotel rates have gone up. I am sure this was pretty profitable for the rehab group. Leverage and debt pay down can make this profitable even if the amounts didn't go up dramatically.
  3. People hate inflation, and yet deflation is here for rents and people will hate that, too. This is a natural consequence of the MF building boom of the last few years. Market will straighten it out with 12-18 months and my guess is building starts strong late 24 since MF product takes so long to deliver.
  4. Done! Thanks! Did not realize that was an option
  5. At least on mobile this is the least user friendly site I regularly visit. Offer a patreon instead of bombarding us with ads @Neo.
  6. These are STRs. Looking at property records it is primarily LLCs buying these. I doubt many(or any) of these are for primary residences.
  7. It’s great that this building will be built. It sucks that it will be an Airbnb. Housing would have been great here!
  8. Fortunately much of what you are talking about is not happening. Interest rates are higher, that is correct. Inflation is 3.7%, led primarily by rent inflation(a lagging number). 3.7% is higher than recent years but far from extreme inflation. The dollars share of reserve currency is 59%, exactly where it was in 2020 and 2021. During Trump's tenure it dropped from 64% to 59% though. Unemployment is 3.8%, so I am not sure what corporate downsizing you are referring to. I am glad you have stop referring to a weakening dollar, perhaps you realized how incredibly strong USD is right now. Interest rates and inflation go through cycles, we are currently in a disinflationary period right now, and hopefully that will continue. Some projects may be scrapped(that is the entire goal the Fed is aiming for right now), and others will use more equity and will continue. The deeper the pockets the better off the developers will be.
  9. Rents being down isn’t a bad thing. It’s a function of supply, we have recently built a lot of apartments. Follow the rents of recently built buildings for yourself. You will find the same exact thing.
  10. Cities that have built a lot are seeing drops. Free months reduce effective rent and are as good as drops. In the past 6 weeks the algorithms that drive pricing have dropped pricing again.
  11. This is still really bad. Any time I come to the site I have to deal with defeating a quiz that thinks I’m a bot and a bunch of pop ups.
  12. I think and hope you are right. There are a number of buildings built specifically for AirBNB usage in the past few years. Also many townhome developments created solely for this purpose. I used to think the impact on housing prices was minimal but I am coming around to the belief that the impact is in the 3-5% range on prices.
  13. Score another victory for our small government proponents, lol
  14. Spot on. It’s going to be a rough couple of years rebuilding the oline. Will at last get a high draft pick this year plus tons of cap space.
  15. They just got a new stadium, they aren't going anywhere.
  16. I take every bad thing back! This version is fun to watch.
  17. Chartwell’s project in west end park is 5 years delayed too, they seem to do well when a development partner is involved, but not as well when it is a solo project,
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