To be honest... when I start seeing houses sit - I want to crawl out of my skin. And I'm starting to see places sit. And news from all over suggests that there is a slowdown underway. You can see it in cars. GM is offering pretty much 20% off, no payments for 90 days and zero interest.
Interest rates went up really fast, and there is a lag time to the fallout from that. And it sort of feels like no one thinks we can have a recession because Trump is President. But when mortgage applications start looking like this..... only up 3 out of 12 weeks....this is not healthy.
UPDATED: Spent some time going through the MLS. There are price reductions on the low end starting soon as 22 days. At least half of the stuff thats been on the market for than 30 days has a markdown. Even land! Which is super rare these days. And inventory for very large houses seems to be larger than normal, but so far most of them are holding out. The middle market still seems sane for now I guess.
I'd say that if my market is showing stress, anything more inland is showing more stress.
I've seen a dying JCPenney conversion to a boutique hotel ...
ReplyDelete... so why not an undead Walmart conversion to a low-budget hostel?
Commercial real estate seems so bubbly though that I might not be thinking big enough: I might want my own undead Walmart so I can have the ultimate prepper bunker for the apocalypse.
Think about it: there's already a loading dock, the points of ingress aren't too difficult to secure, and the large areas of parking around one are suitable for use as live-fire zones in the event of unwanted post-apocalyptic intruders.
The roof's big enough to mount several anti-aircraft guns as well as flamethrowers for the more inquisitive "shoppers" who may show up. :-)
Also, zombies go to the mall, but the undead probably won't go to an undead Walmart. :-)
THIS MARKET ISN'T APOCALYPTIC ENOUGH FOR ME
I WILL NOT BE SATISFIED UNTIL I CAN TUNE INTO
THE ZOMBIE PROPERTY BROTHERS
AT AN UNDEAD JCPENNEY IN CLEVELAND
:-)
I"m sort of a Shawn of the Dead kinda girl. ;) Mr S. super burned me out on Zombies. And zombie rules are sort of like religion, No one follows the zombie rules. So I can never figure out how not to die.
ReplyDeleteThere is a (until recently) dead Bank of America building in downtown San Jose that I've wanted to buy for a few years. Even though it has bums living at it's base - the damn thing is a littaral fortress. It's a two story building in that brutalist concrete architecture style. And it's already got a bank vault! And a sort of deck on the second floor to put the turrets.
Seriously though. WTF is up with not following the zombie rules?
There was an actual Louis Sullivan bank building in Seattle that got turned into a Walgreens ...
ReplyDeleteMy thoughts: YOU TARDS, I'D HAVE BOUGHT THAT BUILDING AND TURNED IT INTO A REAL CO-WORK SPACE.
The architecture was far more Architectural Gangsta than mere concrete brutalism. I'd heard stories that while that bank was in operation as a bank, nobody had ever successfully robbed it.
As for the "zombie rules" .....
"That guy's just not playing fair: he's shooting everything that even gets near him in the head."
"Even the infected dogs, surely someone could find them a home?" *sarcasm*
"Apparently the zombie rules don't cover angry bastards with a .50 BMG who were waiting for the opportunity to shoot at everything in the line of sight."
"But look, he's not shooting everything ... look at the parking lot and those excavated circles that have been filled in with concrete."
"Remotely controlled limpet mines?"
"Yeah, lots of them. THOUSANDS OF THEM. This guy gives zero fucks whether there are any other survivors unless he goes out to get them."
"We could yell at him over the megaphone to see if he'll talk."
"Don't bother, the last time we tried that, all he did was play 'Welcome to the Jungle' on a loop at us for ten hours."
"Wasn't that 'for ten hours' thing an Internet meme?"
"Apparently he's still on the Internet."
"Now THAT is knowing how to survive."
"... SSID: NoFreeWiFiEatMoreBullets ... yeah, he's not coming out."
:-)
See - I think this is where Elon wins. No one ever has a flame thrower in a zombie flick. Game over.
ReplyDeleteI do like your wifi hot spot though. It's the new frontier - passive aggressive wifi names.
Shaun of the Dead, huh? :-)
ReplyDeleteI'll let you in on a little secret then: the filming location for "Hot Fuzz" is one of the places where I go for rest and recovery.
I've stayed in the hotel that was the temporary residence of Simon Pegg's character in that movie, and I've shopped the hell out of the grocery store that was the scene of the infamous flying knives.
The surprising thing about Wells is that when you wander around certain parts of it (such as a moat with actual swans in it), there are little benches with dedications from people in Los Angeles and San Francisco that have been there for decades.
So if you really, really want a short escape from California and don't mind a long trip, I've definitely got the place you should visit. :-)