Following the Market Down in The Columbian: 1160 S. Michigan
We’ve chattered about this million dollar flip in The Columbian, at 1160 S. Michigan in the South Loop, a couple of times.
The price simply seems to be following the market lower.
It’s now been reduced by $455,000 since December 2007.
Here’s the listing again:
Spec Pnths at The Columbian. Excptnl flr pln w/ 9’6′ ceiling, ovr 3400 sq ft of lvg spac w/priv bal, unobstructed wraparound vws of lake, Navy Pier, Grant Park.
Fab home feat expansive LR/DR & FR w/sep kit w/Sub-Zero, Viking, Bosch appls, grnt cntrtps w/brk nk. 3 Mstr Br stes w/lrg wlk-in closets. Lndry rm, pwdr rm, hdwd flrs, cstm millwrk. Inc 2 prk spacs. 24-hr drmn, prty rm, ftnss cntr, sun deck & dog run.
Deborah Thomas at Coldwell Banker has the listing. See more pictures and a virtual tour here.
Unit #4201: 3 bedrooms, 3.5 baths, 3480 square feet, direct lake views
- Sold in December 2007 for $1.6 million
- Original list price in December 2007 of $2,555,000
- Reduced
- Was listed in July 2008 for $2,275,000
- Reduced
- Was listed in early November 2008 for $2.195 million
- Reduced again
- Currently listed for $2.1 million
- Assessments of $1115 a month
- Taxes are “new”
- Includes two parking spaces
Try an even million, flipper.
This unit is so silly.
When it gets down to an ask of $1MM it might move. Even then it is questionable since you just can’t get jumbo financing very easily.
Just way to much supply in the South Loop and no buyers. While I don’t anticipate a huge crash in places like LP (maybe we see at the bottom a quarter to a third off bubble pricing) these places are just insane.
So they’ve spent ~$100k on loan plus assesments plus furniture rental, etc. How much do you think their deposit was? $160k? They’re less than 6 months away from being worse off than if they’d just not closed.
Speaking of following the market down, how about the S&P just falling through the floor this afternoon. The afternoon rallies have been non-existent the last two days.
Assuming the markets are leading and real estate is lagging the macro-economic picture things aren’t looking pretty.
I have heard of more high end layoffs today than I have ever in one day in my life. Good luck with this one. I expect to see no shortage of upper bracket places coming online…
Lots of people going to be telling their broker to sell and having them say back them “OK, but to who?”
KP… That was a disastrous move. I am shocked how easy that was, I usually am always wrong not buying there. Right through 50%, right through 02 lows, not holding a freakin 26 year trendline. It looks like a pile of afterbirth. Assuming Real Estate moves to the same trendlines the markets already went through you should see another 25% clip off Chi Town easy. The wealth destruction is simply becoming catastrophic now.
But Ze remember:
After market moves like this Hanky P will put on his top hat, grab a cane and put on his tap dancing shoes and have a go at it. The prez too will get in on the intervention dance. Cuz afterall even if his inaction over all these years was behind it, theres nothing to make him think he isn’t important enough that his big talk can’t stop it.
The market is down, waah! Intervention dance lets have another go at it! Everything will be alright cuz Hanky P and Georgie are gonna kiss the booboo and make it all better.
Bob.. I think they just realized that if they avoid going back and asking for the other $350 bil no one can ask them any more questions about how they used the money. It’s amazing how billions keep going missing.
We don’t really need intervention. That will come naturally in time. It might be ugly for a while but despite the market and layoffs we are seeing this isn’t the great depression.
P/E’s are getting near levels we haven’t seen in 30 years and a lot of these companies have cash and are making money. My long positions are mostly in dividend stocks that, while being pummeled are all still paying their dividends and I am seeing yields getting close to 10% on some. Once we have some certainty about where things are going we will recover. I have no doubt that we are in a world wide recession. The good news is that the US pulled the rest of the world into it and by being the first in we are likely to be the first back out.
As for RE, this kind of wealth destruction just means that the bottom is probably further off than at least I thought it was a month ago. Perhaps more importantly, even if we hit bottom in the next year, it will be a lot longer than many think before we start seeing appreciation again.
I still think we are looking at the Chicago RE bottom in the next 6-18 months. The catch is that once we hit bottom I think that we won’t see any meaningful appreciation for at least a couple of years after that. Just have to think about that as I do my rent vs buy calculations…
this one is going down!
their initial price is ridic. $1MM is a little low for an estimate but is closer to where this should be priced at.
Ze, I have a feeling we’ll see a bounce in the S&P starting tomorrow or Monday (at least 10%). Smelled like capitulation today.
Smells like capitulation a lot of days. One day it will actually be true.
kp,
I agree 100%. But remember our policy makers are either snakes (Paulson) or morons (W) and they believe they need to do an interventionist dance every time the markets go down because it is somehow on them to prop up the stock market (not the overall economy). So look for more interventionist actions in the coming weeks that will be at massive expense to us taxpayers that in the end accomplish very little other than hot air talk.
“We don’t really need intervention. That will come naturally in time.”
What made this greedy asshat think he/she could buy the place last December and immediately resell it for $1 million more? Especially AFTER the credit crunch, which began well over a year ago.
The South Loop just isn’t a neighborhood that supports multi-million dollar condos. This will end very badly for the wannabe flipper-turned-flopper.
SRS 259.36 +33.81 (14.99%) Up 92% in 5 days. It’s like freakin Christmas over here.
“What made this greedy asshat think he/she could buy the place last December and immediately resell it for $1 million more? ”
I’m sure that was the pre-construction price. Doesn’t amke it any more reasonable, but I think it makes it slightly less TOTALLY INSANE.
The correction in Chicago real estate can’t even begin until people like this flipper burn through all of their other funds and enter distress. He might have made a lot of equity on previous flips (judging by the purchase price) so this could be awhile off.
For all the stuck flippers who didn’t cash out in time they are going to watch all that easy money they made during the boom slowly trickle away like water torture via the carrying costs of properties like these.
Interesting, the stock market and South Florida real estate are down about the same %. Just think if you owned only South Florida real estate and stocks…..ouch. Glad I am renting. The wealth destruction is getting ridiculous….please stop the ride, I’d like to get off now, well glad I am 70% in FDIC insured CD’s….er, make that 75% now…
As far is this condo goes…..oh it is a great price, after all Suzanne researched this, we can do this, yes we can!
http://www.youtube.com/watch?v=Ubsd-tWYmZw
Oddly, at the end of the commercial it says “agents of change”. Gee where have I heard that before…change? Anyway, that is all the couple will have left, just change no paper money, once the highly qualified former dog groomer Realtor® Suzanne is done…
http://www.youtube.com/watch?v=Ubsd-tWYmZw
Ahahaha that commercial is awesome!
very funny. they should show them 2 years later living in their SUV eating leftovers with kids screaming in the wayback trying to share a sleeping bag. And he could be screeming at her like Chris Farley “I told you you materialistic whore!!!!! Now look at us. Get out and push it’s only a few more miles.”
CH….and then the camera cuts to a toothless dirty bag lady with a raggedy dog with a sign that says “Suzanne’s Dog Grooming”.
Bob, I agree with you probably 98% of the time (Except that LP is the greatest place on earth!) and the bush bashing. Hoover went down as probably one of the worst presidents EVER. Most of which is because he barely did anything as the great depression toiled on. He was letting people practically starve in the street all the while clinging to his LET THEM FAIL attitude. Bush and Barnie and crew on the other hand are trying their best to keep the liquidity flowing and keep things stabilized while the economy expels the toxic poison of leverage, subprime, alt-a., lax lending, etc.
You may not agree with their methods or solutions but at least they can say they spent $1,000,000,000,000 trying to avoid another GD. The bush bashing is getting old, its not just from you, but from everyone in general. You got your obama, you got your change, do you really have to beat a dead horse? This morning on the radio I heard two moron dj’s on 92.7 doing the bush bashing thing and it’s like damn you people don’t you ever stop? Kind of like in crime and punishment they all beat the horse to a bloody pulp I keep thinking the bush bashing is more than about bush, it’s about the bush basher.
“Bob on November 20th, 2008 at 3:18 pm
But Ze remember:
After market moves like this Hanky P will put on his top hat, grab a cane and put on his tap dancing shoes and have a go at it. The prez too will get in on the intervention dance. Cuz afterall even if his inaction over all these years was behind it, theres nothing to make him think he isn’t important enough that his big talk can’t stop it.
The market is down, waah! Intervention dance lets have another go at it! Everything will be alright cuz Hanky P and Georgie are gonna kiss the booboo and make it all better.”
30 year treasuries dipped below 3% today. Lowest since 1950’s!
If you look at the Chgo R.E. listings, the prices simply aren’t moving down. Do Sellers believe they are holding a rare commodity that demand will rescue for them? If the Sellers would begin to capitulate, the market could start to get back on its feet.
homedelete,
I’m a libertarian, I don’t subscribe to the dual party kool aid and I’m skeptical of Obama, I didn’t vote for either McCain or Obama and I’m proud of that. I will not stop bashing Bush nor his appointees and I don’t agree with your statement that at least they can say they spent 1,000,000,000 trying to avoid anything.
The bottom line is if you’re incompetent, don’t understand the problem, don’t have a formulated plan with contingencies or just don’t know the fuck you’re talking about maybe its better to NOT spend the $1,000,000,000,000. Did that ever occur to you? Maybe save the $1,000,000,000,000 in the treasury for someone who does fit all of the above. Because without all of the above you’re just pissing money away and thats exactly what they did.
Oops my first numeric reference should’ve had an extra three zeros to emphasize trillion. Thats $1,000,000,000,000.
But once Obama got elected the world changed and he will take care of everything….oh wait, there was no post election bounce, just the worst post election stock crash and wealth destruction in history as a socialist democrat got elected. Hmmmm….let the Obama bashing begin, what goes around comes around. I told several people that if Obama got elected you’d see net U.S. wealth and investment dramatically decrease….but I was obviously way too bullish. While I obviously want Obama to succeed now that he was elected, I don’t think he will, and I’ll will at least get to blame him for four years like the bush bashers blamed bush for the most ridiculous things ever over and over and over again. Oh well. It’s gonna get really ugly as those that voted for change will end up with only change in their pockets and the most corrupt fed admin in history as it spends unbelievable amounts of money to drive our country closer to financial destruction. Why not hit the accelerator as you approach the brick wall.
I knew several people who voted for Obama precisely because they thought they’d be able to get out of their mortgage obligations if he got elected….no joke. One guy who has a cushy govt job bought a house that he is now under water on (and really not that far under water), he can afford the fixed rate payments which are the same he has been paying for years, but sees no reason to keep paying (he took out a second mortgage for a motorcycle and other toys too) since it is worth less now. So he stopped paying and is going to pocket the cash and try and force the bank to lower his mortgage principal or do a short sale. No joke, there will be a lot of these types of pretend hardships by people who have no sense of moral obligation to pay a debt even though they can afford it and are living in the house enjoying it everyday. As more programs get announced, including no foreclosure by the fed mortgage twins for the holidays you will see more and more fraud. I hear about it every day in Florida from people you’d never expect. All this is going to do is cause this thing to spiral downward as more people jump on the “game the system” bandwagon. Funny how it never is an option to sell the shiny new motorcycle or cut spending in other area.
Credit is extend on the belief and confidence that the debtor will pay back the money that was loaned to him/her instead of weaseling out of the obligations or skipping the country. Once that moral repayment assumption is out the window, we’re done in an economy that depends on easy, available and affordable credit. And people wonder why the credit crisis is lingering…interest rates will continue to rise as existing and new future risks from deadbeats are priced into credit. Obama needs to stand up and tell people they have a moral and civic responsibility to repay their debts and to stop looking to the fed govt as an excuse to get out of their financial obligations. The responsible debtors and consumers need a pat on the back and a vote of confidence too. Stop pandering to the deadbeats and those that don’t contribute to the common good. Enough is enough. And no, I don’t need to hear about the belly aching debtors who we later find out took out second mortgages or other cash out at closing deals then spent the money on ridiculous things all the while putting their homes at risk…guess what, when you put your home at risk you could lose it. Next…
Consumer and business interest rates will continue to rise as this credit moral hazard continues to slip. The cuts in fed funds rates are totally INEFFECTIVE, even when it probably goes to zero in 2009, in this environment. The spread between the fed funds rate and credit to consumers and businesses will continue to rise and long term rates will get more ridiculous as repayment RISK is increasing the more the govt steps in and gives actual or perceived options for people to get out of their debt obligations. We need tough love, not get out of debt programs otherwise banks will continue to spiral downward and the govt will become the FIRST and ONLY lender and not the lender of last resort. We are seeing this already. Yes, housing is important and we can stabilize it through refi’s into fixed rate mortgages up to 50 years (NO principal reductions and no walking away then either, but make it an assumable mortgage) and leave the fixed rate 50 year refi option window open for a limited time. That gets people into affordable payments and allows them to sell the house under the assumable mortgage even if they are under water. Beyond that, let prices in homes fall to the norm….they should and they must.
The real problem NOW is CREDIT…and that is totally dependent on confidence that the borrower will repay. Even with fed funds rate reduction, the credit spread is increasing….see credit card rates are going up and limits are being reduced. This is because the repayment risk is increasing as people try to get out of the debt obligations regardless of their ability to repay… Again, federal funds rates will continue to be totally and absolutely ineffective in an environment where debtors feel no obligation to repay…the more we feel sorry for the debtors and the more we let them weasel out of their obligations the worse this is going to get and the fed govt with its printing presses will be the only bank in town….. Seriously people, we are entering very very dangerous ground now and our democracy and liberties are more at risk going forward than any Patriot Act concerns. We won’t need to worry about civil rights when there is no democracy left.
The bottom line: pay back your debts and all will be fine.
John,
I find it very difficult to attribute a problem to someone that existed well before their appearance. I said in our earlier argument with you that whoever is standing there after the election is screwed, there will be no savior. Citi has been hiding almost a trillion in bad debt. That’s just one. These banks leveraged themselves to the point a 3 percent reversal would wipe them out. They did one structured deal after another taking profits that never existed. Cash flow hit home. You can only push losses of that size back for so long until cash flow forces your hand. Obama will fix it, most likely not. Is he the cause for this last move down. Absolutely not. Removing the 12:1 allowed leverage ratios and removing oversight of state loan regulators was a huge part of it.
As for credit it is more that everyone has way too much. In relation to discretionary income the percentages are stiffling. Credit where it can not paid back needs to be brought into the open and expunged. The borrower and lender need to both suffer for their decision. It will and should be painful for both. My wife never understood why I had such a big thing for tsk tsking every time I would point out $5,000 spinning rims on leased cars, or $2,000 pairs of shoes and $3,000 LV bags. Not everyone gets to be P.Diddy and Paris. There is just too much shit!! There is no need for an Abercrombie next to a Hollister next to an American Eagle. The US consumer was supported on debt and produced consumption, nothing more, and that money that was extended all in one place towards the U.S. will be diversified going forward I assure you. They are learning their lesson.. don’t put all your eggs in one basket. Better to give $1,000 each to 3 billion asians than $10,000 a piece to 300mil Americans.
Bob “The bottom line is if you’re incompetent, don’t understand the problem, don’t have a formulated plan with contingencies or just don’t know the fuck you’re talking about”
If you think Hank Paulson is the above you have never had the displeasure of dealing with Goldman day in and out. I assure you that you do not last very long there walking around with your head up your ass. This guy rose/fought to the #1 spot. Goldman is a place you leave but nonetheless always remain Goldman. Who the hell ever asks for complete control, no oversight, and no legal responsibility before starting? I got it right away so I know damn well he did
HD.. the bashing has yet to begin. That G20 meeting was priceless. The day he losses power it will all begin to come out. I voted for him.. I donated money to him… Damn I was even at his dads Inauguration and have been to his home in Houston… I was wrong. There is nothing defensible about what his administration did. These guys were nothing more than grifters.
Testify!
I’m just saying the Bush Bashing is getting so old. There used to be this moron around my office. He was the son of a big shot but unforunately he was a complete goof. He was in his 30’s, unmarried, long hair down to his waist, his ‘real’ job was a bass player in a rock band, you know the type of guy. He always bitched about having to work for his father.
I swear to god, I’m not making this up, but he blamed Bush for his inability to get a real job. I mean he really flat out believed that Bush and the republican administration was holding him back from getting a real job on his own. He would bash bush ALL THE TIME. That was like his thing to do.
But in reality, bush wasn’t his problem, it was himself. He needed to cut his hair, shave the beard, lose about 30 pounds and take a shower once in a while. and stop talking to himself in the copier room.
So maybe I’ve got this weird connotation about bush bashing, but everytime somebody knocks bush I see a useless and ornary and smelly long haired 35 year old sucking off the teet blaming bush for all his problems!!!
“The bums will always lose Lebowski, the bums will always lose!…”
Actually the quote is more like this:
“The Big Lebowski: Your revolution is over, Mr. Lebowski. Condolences. The bums lost. My advice is to do what your parents did; get a job, sir. The bums will always lose. Do you hear me, Lebowski?
[the Dude walks out and shuts the door]
The Big Lebowski: The bums will always lose!”
You forget to mention that Lebowski ends up with a new rug.
HD, gonna have to agree with Ze here. I’m a stout fiscal conservative and I think Bush is one of the worst presidents of all time. I do blame him and his administration for really f__ing up this country.
HD, seems like the examples you’ve come up with are more your hatred for people who lay blame on external factors besides themselves (such as Bush, “evil” banks, etc.) Every logical, responsible person does not like these people and their excuses.
homedelete – Sounds like the guy has psychiatric problems probably self medicating or exacerbated through drug abuse. Although Ze C. likes his pot, it does bring out and exacerbate psychological and psychiatric problems that people may have been previously unaware of. That is the danger to pot, other than that it is relatively harmless in occasional use but daily use skews one’s perceptions of reality as it builds up in the fatty tissues, including the brain which has a high lipid percentage. Persistent altered states create small incremental changes in neuronal connections and one day you wake up as a confused, disoriented pot head. Being a drunk is bad, being a pot head is bad too….
“That is the danger to pot, other than that it is relatively harmless in occasional use but daily use skews one’s perceptions of reality as it builds up in the fatty tissues, including the brain which has a high lipid percentage.”
Cite? Sounds a bit “reefer madness”-esque to me.
I’ve read almost every study on the stuff… Would love to see the reference. And I know plenty of non-drug users with absolutely no perception of reality. What is reality btw?
Ze C. said: “What is reality btw?”
– I close my case…
John.. I agree with you. We even have a name amongst my friends who make fun of me for how unrealistic my life is. But nonetheless it is my reality and I enjoy very much living in it.
At least you are a happy pothead. Just when you hit the paranoid stage, please give up your guns. Thanks.
Currently you appear to be in the “enlightened” stage where you believe your world view is somehow superior to others and the rest of the people are all saps for living the rat race…you apparently are enlightened more than the rest of us…but that is just the effects of the pot.
And you get this information from what credible source? It could be that “some” people had psych problems before and are using it to self medicate, I will give you that. There is research that points to the positive effects of moderate use. Just yesterday Bloomberg.com had an article on how a puff a day might help retain memory in old age. Did you hear about that? The problem is that funding for research is very hard to find because of the complicated federal approval process, limited availability of research-grade marijuana and the debate over legalization. Since marijuana is a Schedule 1 drug, permission must be obtained from the NIDA to conduct research, and the government seems to have a stake in a certain kind of result. One scientist tells of a research grant application to study marijuana’s potential medical benefits. NIDA turned it down. That scientist rewrote the grant to emphasize finding marijuana’s negative effects. The study was funded. Here is a link to studies which you probably never heard about, since they don’t have the “correct” bias.
http://www.scientificfactsofpot.com/studies.htm
Homedelete: “Although Ze C. likes his pot, it does bring out and exacerbate psychological and psychiatric problems that people may have been previously unaware of. That is the danger to pot, other than that it is relatively harmless in occasional use but daily use skews one’s perceptions of reality as it builds up in the fatty tissues, including the brain which has a high lipid percentage. Persistent altered states create small incremental changes in neuronal connections and one day you wake up as a confused, disoriented pot head. Being a drunk is bad, being a pot head is bad too….”
ze, juliana:
Did either of you guys see my bag of doritos? I could swear I left it around here somewhere. I am really jonesing for some doritos..
Bush, while a shitty president, is not the worst. You should have really paid attention in your US history class junior year of high school. You’ve been fed the same bs mantra over and over again by the media and now you believe it. Does that sound familiar, just like “real estate is a great investment?
Sorry to go on politics again but it’s one of those days. The media and the public repeats ‘change’ and ‘W lied and people died’ and all that other nonsense propaganda and the hoi polloi eat it up like double quarter pounders. The hipsters and the youth ate that shit up.
Then what do they get? the Clinton Redux: 2009-2013. Rahm is chief of staff! hahahah! That’s not change that just a continuation of 1993-2001 which quite frankly wasn’t all that different from 2001-2009, except that now you have to take off your shoes at the airport. Go figure, the more things change, the more things stay the same.
“just a continuation of 1993-2001 which quite frankly wasn’t all that different from 2001-2009”
You need to stop listening to talk radio and Fox News AND, more importantly, take this shit to a political board. You’re being tiresome.
Hey – I’m not the one bush bashing around here. I’m the one who got tired of the political nature and then gave back a little of their own medicine. its ok to bush bash but when i say something about clinton I get told its tiresome. it’s a two way street around here.
The biggest mistake that Obama’s Clinton cronies will make is thinking they were responsible for the good economic times and think they are smart….dangerous to take credit for these things…..like when real estate prices were all going up everyone was a real estate investment genius. Clinton inherited an economy on the upswing….Bush got the down draft and 9/11 so the no fun presidency. Obama will get the severe headwind. This will mean a bunch more govt meddling with unintended consequences for residential real estate. I see the next decade as flat for residential real estate in real dollar terms. Feel free to disagree. Maybe we should all take up pot smoking and turn into Jamaica….
“Hey – I’m not the one bush bashing around here. I’m the one who got tired of the political nature and then gave back a little of their own medicine. its ok to bush bash but when i say something about clinton I get told its tiresome. it’s a two way street around here.”
Grow the f up, hd. It’s all tiresome–I don’t come here to read assinine political commentary from either side.
Wow you get pissy sometimes. Are you that person in my office at the end of the hallway? She’s having a pissy day too. She’s been really pissy too, bitching at everyone she sees over stupid administrative stuff for two days now….. Next time I walk by her office I’ll see if cribchatter is on her screen.
“anon (tfo) on November 21st, 2008 at 1:48 pm
“Hey – I’m not the one bush bashing around here. I’m the one who got tired of the political nature and then gave back a little of their own medicine. its ok to bush bash but when i say something about clinton I get told its tiresome. it’s a two way street around here.”
Grow the f up, hd. It’s all tiresome–I don’t come here to read assinine political commentary from either side.”
“Wow you get pissy sometimes.”
Is that you, Pot? Nice to see you; the name’s Kettle, if you forgot.
John,
Jamaica?? why not Holland or Vancouver. I like those places. Jamaica absolutely sucks!
No guns for me, not against them but just not into them…and yes working on enlightenment. Not going to ever get there but really, whats the harm in trying.
Rat race.. been there, done that, very unimpressed.. Yes I think it is a waste of life. I find it hard that man evolved to spend his day in traffic and a cubicle. To each his own. As I said you have your reality and I’ll have mine!!
Funny i always noticed you say some smart things but have troubles distinguishing between correlation and causation. Wonder if maybe you just like manipulating things. It is clear you are not the open minded learner but rather someone who likes to learn what they already know as reinforcement. It’s funny to listen to you.
C’mon Clinton was the best Republican president ever. His only mistake was not nailing a hotter chick. Now Gary Hart… there’s a guy that knew how to be a player.
Pot? I too love the green just like Ze, but I don’t profess my love for God’s Green Gift to the world nor do I partake anymore due to professional responsibilities and the like. But anon(tfo) no hard feelings it’s just one of those days where peple are all pissed off for some reason. It ain’t just you and me, its the lady down the hall, it’s my bosses, its my co-workers, oppsing cousnel, everyone seems very pissy today. Must be something in the air.
“anon (tfo) on November 21st, 2008 at 2:45 pm
“Wow you get pissy sometimes.”
Is that you, Pot? Nice to see you; the name’s Kettle, if you forgot.”
HD.. you should see the emails I am getting today from NYC friends. I think half of NY got fired this week. Lots of anger out there.
And John.. give the shvatza a chance. He told Pelosi to take her big 3 bailout and shove it up her ass. Made me smile!! Who knows?
I think its the weather. I think people are finally coming to the conclusion that this weekend will be real cold and every weekend for the next four months will be similarly cold. With 1 or 2 days of 60 or 70 degrees thrown in randomly over this same period.
I thought this was a real estate forum. That being said, I think these people are out of their minds with their asking price.
Ze C – Thanks for the negative characterization of me, always appreciated. Pot is not harmless. You can sit back and be the old hippy type who probably was a trust fund baby, but there are a lot people out there that are hurting. Some are in circumstances where pot would be harmful. Some people have the mommy and daddy to back them up so they go out and be stupid, for others if can be life altering. I am not anti-pot per se, and think legalization with regulation and taxation is the way to go (being a cross between conservative and libertarian….thanks Federalist Society)……since the laws are nonsense. But again, it is not harmless and I know two people who have had exacerbated mental problems as a result of frequent use…there are enough mentals out there, we don’t need to create more. If you hate your life so much that you need the daily escape of pot, I’m sorry that that is your life, but you could seek spiritual enlightenment…go experience an austere monastery for 3 months without TV, talking and the like…perhaps that will be more helpful then escapism through pot. So you’re bored, I get it, but there are a ton of places to volunteer your time to…go volunteer at an inner city school, mentor, or something. Daily pot usage is not a helpful for most people. And, the pot oils are lipid soluble and do accumulate in fatty tissues. It may not be Bio 101 but it certainly is Cell Bio and Biochem….. go ask your local psychiatrist or pharmacist. Pot is not the worst thing in the world but it certainly is not too helpful to many and certainly doesn’t need additional promotion.
And no, I don’t have a problem with the difference between correlation and causation…that’s just silly. My point was it will be “fun” to blame Obama for things just like he did regarding Bush…what goes around comes around that’s all.
Second what the other Dave above said – I used to read the comments here a lot when they were about real estate.
Spare Sabrina the bandwidth and post this crap on YouTube instead.
“The pot oils are lipid soluble and do accumulate in fatty tissues.”
Of course they do. That’s why it shows up in a pis test, stuff lasts forever. But it does not “create” crazy people. Many people are just crazy. Nor is this cognitive biological synaptic gray matter BS you are spouting say anything – Hell, chocolate also “create small incremental changes in neuronal connections”. Going under water for ten seconds kills brain cells. See how easy this is. And I never recommended it to anyone to use at work, have I? I myself just never seemed hindered by it, maybe I was only able to do 35 things simultaneously while stoned and would have been able to do 36 if I was straight but we will just never know now will we.
I also am anything but a trust fund baby… Oh did I ever put in my 120 hr weeks and take pride in it. Then i just realized how much energy was spent on “imminent” things that looking back were just absurdly irrelevant. And I wasn’t enjoying it anymore. So made sense to me to stop and travel. That was 6 years and about 10 passports ago. It’s like I asked Steve. Sure the Europeans are 30% less productive than the US but when you die would you rather look back at the 5 years more of vacation you had or time with family and pets or those 5 extra years of the office?
As for old hippy type???.. I don’t like hippies, never would go to dead concerts because they smelled like pajoli oil… and you might be a bit older than me. I always assumed you to be a bit younger but I am under 40.
As for people having a hard time I am not the one that likes telling people how they can buy crap in cash and even said what the hell is wrong with you for saying that shit when it belittles people like teachers that bust their ass and provide more than i ever did for little $.
You definitely have the manipulative thing a bit….
Dave… I thought how many plants I could grow in a garden would be relevant to a rent/ownership analysis????
Ok… maybe that one’s a stretch there but a transferring executive branch is fairly relevant to the economy and a persons personal comfort level to investing/purchasing/renting a property. Or conversation as to how the debt/equities market are doing might effect it as well?
Or you can just ask Suzanne.
I asked Suzanne, she said to buy now, prices are coming back soon, you might be priced out of the market, real estate always goes up, interest rates are low, supplies are limited, if you don’t make your best and highest offer now someone else will get it, and yes, you do this based on here expertise and analysis. The conversation was short though since she had to wash out the hair dye out of fiffy the poodle’s fur. Being a Realtor is hard, but doing that AND being a dog groomer is even harder….esp. since some of the doggie clients bite.