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samsonh

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Everything posted by samsonh

  1. samsonh
    Agreed!
  2. samsonh
    Can you show us the stats you are using for the things you think are bad. Link to them please.
  3. samsonh
    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.
  4. samsonh
    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.
  5. samsonh
    Done! Thanks! Did not realize that was an option
  6. samsonh
    At least on mobile this is the least user friendly site I regularly visit. Offer a patreon instead of bombarding us with ads @Neo.
  7. samsonh
    These are STRs. Looking at property records it is primarily LLCs buying these. I doubt many(or any) of these are for primary residences.
  8. samsonh
    Prices go down! Bad according to Argo. Prices going up! Bad according to Argo.
  9. samsonh
    It’s great that this building will be built. It sucks that it will be an Airbnb. Housing would have been great here!
  10. samsonh
    This developer had only done small 4-5 story projects previously. These projects were quite ambitious in hindsight.
  11. samsonh
    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.
  12. samsonh
    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.
  13. samsonh
    You are correct. GDP growth came in at a whopping 4.9% for q3. Terrific growth right now. A booming economy.
  14. samsonh
    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.
  15. samsonh
    Office space is not in demand because of WFH, and rents are falling across the city currently. When rents begin increasing again you will see increased activity.
  16. samsonh
    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.
  17. samsonh
    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.
  18. samsonh
    This is an AirBNB, similar to the Odyssey in West End Park. The vast majority of residents will not live here, and will instead be renting their units out short term.
  19. samsonh
    Score another victory for our small government proponents, lol
  20. samsonh
    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.
  21. samsonh
    They just got a new stadium, they aren't going anywhere.
  22. samsonh
    Agreed but development still has tons of surface parking, way too much for my liking.
  23. samsonh
    I take every bad thing back! This version is fun to watch.
  24. samsonh
    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,
  25. samsonh
    Is the second building all Airbnb as well?
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