GUESS HOW MUCH THIS DUMP SOLD FOR

From Curbed:

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$1,200,000

 

This piece of shit in San Francisco sold for $1.2 million – $400,000 over the asking price.

Tell me again how Bernanke & Yellen haven’t created a new real estate bubble.

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Same overpriced shit exists in the entire Silicon Valley (a 1950s 850 square-foot home sold for $3 1/2 million last fall), DC metro area, Manhattan, Boston, and all of LA and San Diego near the ocean. Every one of those places are dominated by liberals who have created a false housing market through an avalanche of crazy zoning laws and abject cronyism.

Jackson
Jackson

Hard to realize that someone bought this place for $1.21 million. What a dumbass.
A bright person would have arranged to conference and submit work via the internet then moved to some duck shooting, hardscabble farmer paradise like Churchs Ferry, ND. There he could buy the whole town and county as well for what he paid in Frisco for wornout linoleum and a leaky roof.

NickelthroweR
NickelthroweR

Greetings,

I live in a beach town just North of Malibu and I can tell you that home prices here are entirely ridiculous. Homes that are little more than tar paper shacks sell for $650,000 and up. It makes no sense to me given that 1/2 of the workers here in California make less than $20,000 per year.

As for myself, I live on a sailboat.

Stucky

The view is actually nice.

I’ll bet the buyers will simply tear it down, build a nice new place …. and it’ll be worth three million, if not more. Maybe they’re not so dumb?

IndenturedServant

When I saw the title of the post I thought it might be about your Wildwood condo.

Dutchman
Dutchman

@IndenturedServant: I think Admins condo has different linoleum.

IndenturedServant

admin, maybe you need to advertise down at The Shamrock!

I’d imagine that sales taper off during the winter months. You might take it off the market long enough to shed the 120 day listing then hire a different real-estate co and go again. Hell, turn it into a section 8 rental and have the govt pay it off for you!

IndenturedServant

Spread the word among your high powered friends like David Stockman. It will sell in no time!

IndenturedServant

Until today I had NEVER heard of lunar waves. What he’s seeing is bad atmospheric seeing conditions or some induced effects of warm optics. Imagine trying to read the license plate on a car about 50 feet or so in front of you on a very hot summer day. There is a big shimmering effect that distorts the license plate due to heat rising up from the hot roadway.

When observing with a telescope you want to observe over large areas of vegetation or ideally bodies of water as these surfaces offer the most stable seeing conditions. Observing from an urban location you get heat induced waves rising up from paved surfaces and roof tops. You can get sudden “waves” of shimmer caused when the fan of an A/C unit kicks on or a down/updraft of wind occurs.

Telescopes and optics amplify the things you see (which is why we use them) and amplifying heat waves is no different. All astronomers like to arrive a bit early and get their equipment set up so that it cools or warms to as close to ambient air temp as possible. A hot mirror or lens produces horrible images.

Observing the sky from the surface of the Earth is like trying to identify your friends and relatives stand around a pool deck while you are standing on the bottom of the water filled deep end. If the water is calm, no problem. If there is a slight ripple it’s still doable but more difficult. If the water is turbulent, you’re out of luck. Observing with a telescope comes with huge challenges that are quite often beyond your control.

I’ve been affected by dust storms in the Gobi Desert, volcanic eruptions, fast moving jet streams and moisture in the air. Clean, clear, stable air with stable temps is the holy grail for astronomers but it rarely happens all at once. When it does, the views will stick with you the rest of your life.

Westcoaster
Westcoaster

@ T4C: I agree with IS. Atmospheric “mirage” is all this is.

Paulo
Paulo

Hey,

Location, location, location

llpoh
llpoh

In Australia, there is a real estate boom going on. It is astonishing. Low interest rates and speculation is driving a lot of it. But a major factor is that in the major cities (almost all Australians live in 5 major cities) traffic congestion is beyond belief. It creates demand for homes near the city centers so as to avoid the hour and a half travel times from the outer suburbs to get to work.

A further thing keeping house prices up in Oz is that the cost of building is outrageous – the levies and taxes that the govt makes on builders/developers is obscene (my favorite word), and the cost of labor/materials is through the roof as well. To build a medium size house on a small block can cost $500k easily. No way to build a $150k house in OZ – none whatsoever – in any location anywhere. More like $250 – 300k minimum.

The mining boom towns were getting 7 figures for dumps, which were rented out to the miners (miners in Oz routinely make $200k+ – even the cooks and cleaners). Then came the downturn in commodity prices. Uh oh. The folks that invested in those 7 figure dumps are now in deep doodoo – Australia has full recourse housing loans, unlike the US. That means the banks get the house back, plus can foreclose on everything you own, plus can send you bankrupt (real easy for them to do it to you in Australia. I kinda like that part, tho. No walking away from your mortgage in Australia.).

It is all unbelievable.

Bea Lever
Bea Lever

I would not give you $12,000 for that rat trap, SF or no SF. The taxes alone would be enough to make me run in the opposite direction.

bb

Nickel Thrower , I’m thinking about buying a boat to live on.Here in Charlotte there are several lakes .Lake Norman and Lake Wiyle .Plenty of boating .I have been reading about guys who plan to live on the water if the economy collapses. You think living on the water would be safer and better then your beach town. Only problem for me is I don’t know much about boating.Sounds like a good idea for surviving a break down of / in society. Any thoughts?

bb

Lipoh ,when you going to invite us all over ? Don’t be shy .

TE
TE

What cannot be sustained, will not.

McJobs and Free Obamacare isn’t going to make the payments, especially once interest rates begin to drift back toward historical (and mathematical) norms.

The reconciliation of ALL our false paradigms back to mean is going to be brutal.

Unstoppable and brutal and less than 1% will even contemplate that it could happen.

Good luck to us all when this house of illusion, delusion and cards finally all blows away.

Stanley
Stanley

I want to know what happened to that beautiful stove. The Golden Age of American appliances. I’d rather have that stove than the property.

llpoh
llpoh

bb – cats do not like water.

Chicago999444
Chicago999444

I can’t remember San Fran ever being reasonably priced, at least not in my lifetime. However, the rapid inflation of CA housing prices since the crash of ’08 is still astonishing, and has to owe pretty much to the current tech bubble in which obscene amounts of capital are being tossed at tech companies that often aren’t even producing anything that could be called a product, swelling salaries and bonuses at the companies to surreal levels.

Just wait till the next tech wreck, and prices in SoCal at least, will fall back to Earth, especially if things continue to unravel in China, and the Chinese nationals who have been bidding up ordinary little crackerboxes to nosebleed prices have suddenly to repatriate their money. If the current biblical drought becomes a 20 year megadrought, look for a rapid change in the financial climate in SoCal, which was, in my childhood, a very cheap place to buy.

But Northern Cal has always been expensive, and the only thing that could change that is if this drought becomes so deep and prolonged, that people are just plain forced to move if they want to be able to draw water and maybe even take a shower on a regular basis.

Rise Up
Rise Up

lloph, what accounts for the high construction costs in Ozzieland? Building materials, labor, or both? And are the land prices high? (i.e., a building lot w/no house). Talking average suburban location.

llpoh
llpoh

Rise – both. Labor is outrageous in Australia on virtually everything. It has the highest minimum wage in the world, except maybe Switzerland by memory.

Sensetti
Sensetti

People in California are fucked up beyond all reason! When will the San Andreas Fault work it’s magic? Hurry

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Sensetti
Sensetti

LLPOH says: Cats don’t like water.

Not true, lions and tigers readily cross and hunt in bodies of water?

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llpoh
llpoh

Sensetti – nice photoshop pic or fake. Umm, lions and tigers do not occupy the same territory, so sorry. What else you got?

Sensetti
Sensetti

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Sensetti
Sensetti

Lpoh thats a zoo pic here’s a larger view of the pair playing in water.

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Stucky

Tigers LOVE water … but they are the exception to the rule.

Try not to focus on the TITS!! ……….. very cool sequence starting at the 5:55 mark

TPC
TPC

@llpoh – I was looking at mining jobs in Oz a few years ago, the lowest position I found was for 185k Ozdollars a year.

If I was single I would have done so in a heartbeat.

PS: Hard to beat midwest prices.

llpoh
llpoh

I read somewhere that is you spread tiger crap around your property boundaries that stray dogs will not come around. Seems that dogs are afraid of pussycats that are big enough to saddle up and ride. Go figure.

Zarathustra

I read somewhere that in India, people wear masks on the back of their heads when walking through the jungle to ward off Tiger attacks. It seems Tigers will only attack from behind…not the smartest creatures on teh planet.

TPC
TPC

@llpoh – In Siberia (near Kamchatka) the Ruskies have discovered a new way to curb wolf predation upon livestock: reintroduce tigers.

I guess wolves and tigers don’t like to share territory, with the wolves actively avoiding areas frequented by the big cats. The tigers take far fewer livestock than the wolves do, so everybody wins!

TPC
TPC

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TE
TE

@Llpoh, funny that is (tiger crap and stray dogs)

Living outside De’toilet, I’ve learned that dogs keep stray home-invaders away.

Guess it depends on which one is the bigger problem. I might be feeding the strays. Stray dogs, that is.

Chicago999444
Chicago999444

This place makes the dumpiest Chicago condo I viewed feel palatial compared.

To the poster who mentioned David Stockman, I can’t for the life of me imagine DS coming near laughably overpriced real estate in dry-as-bone CA, neck-to-neck with moronic, narcissistic, grossly overpaid entertainment celebs and the largest and most lavishly endowed FSA in the country.

That place is a world apart.

llpoh
llpoh

TPC – the only problem with replacing wolves with tigers is that when tigers get old, they look for soft targets. And targets do not get any softer than humans.

I told this story before – a guy I know in who was in the military stationed in a tiger area, and an old tiger was eating the locals. They set up a tower, and tied a goat up, and waited for the old beast to come by. They then blasted away at the tiger with shotguns. Apparently, they managed to ruffle its fur a bit. The guy said the tiger did not even break stride.

The following week, they did it again. This time they mounted a 50 cal machine gun in the tower. He said that did the trick.

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