Housing construction numbers for September were “blowout” and “smashed consensus,” according to analysts who follow the sector. Single family starts rose 11 percent from August and are up nearly 43 percent from a year ago. This from the depths of the housing recession. Multi-family starts and permits, however, garnered a different headline: “Headline Risk as Data Cross 10-year Averages,” came the report from Cantor Fitzgerald. Building permits for multi-family buildings, which means five units or more, and which will be rental buildings, not condos, jumped 93.4 percent from a year ago to 323,000, which is above the 10-year average Source name corrected by staff
Comments: Apartment construction has been booming for over a year now. I have friends in the business and they have been swamped.
Yep, just sold my house for a huge loss (thank you Barney Frank, Bill Clinton, and Freddie-Fannie) and have decided that I'll rent until I see a dramatic and positive change in direction for this country.
Given how hard it was to find a decent rental unit, I can only summize that there are a lot of people thinking just like me.
We're headed for a big bust in multi-unit housing. i.e. apartments. They are way overbuilt and overcharging for rent. When Romney wins and businesses start hiring, folks will begin to move back into homes leaving apartments in droves.
President Obama is expected to nominate former Pentagon lawyer Jeh Johnson as the next Homeland Security secretary, ABC News has learned. The Department of Homeland Security has been without a Senate-confirmed leader for six weeks, and from the start some Republicans were calling on the administration to "swiftly" nominate a new secretary. The White House has largely ignored such calls, as DHS has moved forward with top-agenda items even through the government shutdown. But now an announcement nominating Johnson is expected Friday afternoon, sources told
If a government shuts down in the forest and nobody hears it, that’s the sound of liberty dying. The so-called shutdown is, as noted last week, mostly baloney: Eighty-three percent of the supposedly defunded government is carrying on as usual, impervious to whatever restraints the people’s representatives might wish to impose, and the 800,000 soi-disant “non-essential” workers have been assured that, as soon as the government is once again lawfully funded, they will be paid in full for all the days they’ve had at home. But the one place where a full-scale shutdown is being enforced is in America’s alleged
Vienna - The UN nuclear watchdog has received a request from Russia to assess the impact if a missile were to hit a small Syrian reactor and is considering the issue, the Vienna-based agency said on Friday. Russia said this week a military strike on Syria could have catastrophic effects if the research reactor near Damascus that contains radioactive uranium was struck, "by design or by chance". It called on the UN International Atomic Energy Agency (IAEA) to urgently assess the risk as the United States considers military action to punish Syria´s government for an alleged gas attack.
President Barack Obama has released a statement following last evening´s verdict in the trial of George Zimmerman. Zimmerman was found not guilty of murder in the death of 17-year old Trayvon Martin. The verdict caused immediate controversy and there are a number of plans for protests. Here´s the full statement: "The death of Trayvon Martin was a tragedy. Not just for his family, or for any one community, but for America. I know this case has elicited strong passions. And in the wake of the verdict, I know those passions may be running even higher. But we are a nation
The Department of Homeland Security has been forced to release a list of keywords and phrases it uses to monitor social networking sites and online media for signs of terrorist or other threats against the U.S. The intriguing the list includes obvious choices such as ´attack´, ´Al Qaeda´, ´terrorism´ and ´dirty bomb´ alongside dozens of seemingly innocent words like ´pork´, ´cloud´, ´team´ and ´Mexico´. Released under a freedom of information request, the information sheds new light on how government analysts are instructed to patrol the internet searching for
Sacramento — California lawmakers Wednesday advanced a dozen gun-control measures, including background checks for ammunition buyers, and gave early approval to a tax penalty on the Boy Scouts for barring openly gay leaders. Legislators also voted for a new $75 charge on real estate transactions to pay for affordable-housing projects. Mass shootings such as the one in Newtown, Conn., in December spurred Democratic lawmakers to look for ways to tighten California´s gun laws, already some of the toughest in the nation. "We all can recite the horrific acts that have occurred in our country over the last year," said Senate
The first phantom absentee ballot request hit the Miami-Dade elections website at 9:11 p.m. Saturday, July 7. The next one came at 9:14. Then 9:17. 9:22. 9:24. 9:25. Within 2½ weeks, 2,552 online requests arrived from voters who had not applied for absentee ballots. They streamed in much too quickly for real people to be filling them out. They originated from only a handful of Internet Protocol addresses. And they were not random. It had all the appearances of a political dirty trick, a high-tech effort by an unknown hacker to sway three key Aug. 14 primary elections,
I have never been much of a conspiracy theorist. For me it was always Oswald by himself from the Texas School Book Depository and nothing in the intervening fifty years has disabused me of this notion. For the most part, I’m an Occam’s Razor kind of guy — the most obvious explanation is likely to be true. (Snip) To put it bluntly, Occam’s Razor has moved. Things that were once possibilities now seem almost certainties to me. Principal among those is that Obama’s academic records are perpetually unavailable for a reason — and that reason is most likely that they reveal
One of President Obama´s chief political assets has been his ability to excite young people like almost no politician in history. But the days of America´s youth fawning over the president are over. A new Harvard University Institute of Politics poll released Wednesday confirms what other surveys have shown in recent months: Millennials have soured on Obama so much this year that their opinion of him largely mirrors the American public´s. Even though Obama does not ever have to face another election, he should be worried about the findings for a couple of reasons, which we will dive into momentarily.
A stunning new study unveiled on Fox News´ Hannity finds that President Barack Obama’s White House calendar records just one face-to-face meeting between Obama and his Health and Human Services (HHS) Secretary Kathleen Sebelius in the more than three-and-a-half years leading up to the disastrous Obamacare launch. The startling statistic comes from a new Government Accountability Institute (GAI) analysis of Obama’s own official White House calendar, as well as the Politico presidential calendar, and raises new questions about Obama’s executive leadership and management throughout the implementation of his singular legislative achievement. More alarming still, the president’s schedule lists 277 private
[Video] President Obama on Wednesday declared that addressing income inequality would be the focus of “all” of the White House’s efforts “for the rest of my presidency.” In a sweeping address that touched on raising the minimum wage, investing in infrastructure and ending tax breaks for the wealthy, Obama warned that the American economy has become “profoundly unequal,” declaring economic mobility the “challenge of our time.” “The combined trends of increasing inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life, and what we stand for around the globe,” he said in an hour-long
Just over two weeks ago, MSNBC host Martin Bashir delivered a harsh piece of commentary that culminated in the suggestion that someone should “s-h-i-t” in former Alaska Governor Sarah Palin‘s (R-AK) mouth. Bashir offered an abject apology on his next broadcast, but a chorus of critics continued to demand action against the host. After a reported “vacation” for the host earlier this week, Bashir announced, Wednesday afternoon, that MSNBC and Martin Bashir are parting ways. Here’s the statement from Martin Bashir, via email: After making an on-air apology, I asked for permission to take some additional time out around the Thanksgiving holiday. Upon
Nineteen people stood behind President Obama on stage in the Executive Office Building Tuesday as the president kicked off a new campaign to promote Obamacare. One of those people, a young Florida woman named Monica Weeks, introduced Obama after telling the story of being struck with Crohn´s Disease at age 19 and receiving expensive treatments for several years that were covered by her parents´ health care plan — because Obamacare allowed her to remain on that plan until age 26. Now, Weeks said, she has coverage through a job. "The Affordable Care Act gives young adults who are just starting
Amid an array of “knock-out” attacks against a number of Jews in Brooklyn’s Crown Heights neighborhood, a city councilwoman pointed to the success of the Jewish community as triggering the aggression. Councilwoman-elect Laurie Cumbo emphasized that while she “admire[s] the Jewish community immensely” for its work ethic, black teens may see it differently. “While I personally regard this level of tenacity, I also recognize that for others, the accomplishments of the Jewish community triggers feelings of resentment, and a sense that Jewish success is not also their success,” Cumbo, who was recently elected, wrote in a letter. Chief among the issues