The Off Topic Topic

[MadImmortalMan]

I can see how a certain percentage would be considered "undervalued";  where the hell else can you score a foreclosed-upon condo on the water in Miami Beach for $50,000?  Talk about undervalued.

I had this thought too. I looked at some of the high rise condos they are almost giving away. You know a problem they have? The HOA dues would be way more than the mortgage. Everyone in the complex is way upside down, which means for the foreseeable future most of the units are going to end up in foreclosure (maybe some in a short sale). People are going to be walking away, not paying the HOA dues, a lower income class will be moving in that will have trouble paying the dues, and some of these complexes are going to end up in a death spiral.

And then the HOA has to raise the dues to cover costs, because those roofs don't fix themselves and the grass won't cut itself either. I thought about buying a couple condos as investment properties, but then I googled the HOA fees for the complex. Screw that.

[CountDeMoney]

I can see how a certain percentage would be considered "undervalued";  where the hell else can you score a foreclosed-upon condo on the water in Miami Beach for $50,000?  Talk about undervalued.

I had this thought too. I looked at some of the high rise condos they are almost giving away. You know a problem they have? The HOA dues would be way more than the mortgage. Everyone in the complex is way upside down, which means for the foreseeable future most of the units are going to end up in foreclosure (maybe some in a short sale). People are going to be walking away, not paying the HOA dues, a lower income class will be moving in that will have trouble paying the dues, and some of these complexes are going to end up in a death spiral.

And then the HOA has to raise the dues to cover costs, because those roofs don't fix themselves and the grass won't cut itself either. I thought about buying a couple condos as investment properties, but then I googled the HOA fees for the complex. Screw that.

Yeah, the HOA is a distinct and separate legal entity than the holder of the mortgage.  The HOA can levy liens on the property, garnish wages, all sorts of legal remedies to recoup their costs, even when the mortgagee walks away.   I ran into that shit when they wouldn't fix my roof, and I refused to pay them.  Alas, their lawyers were bigger than mine. 

But HOA statistics don't measure in real estate statistics, re: whether property is "undervalued", because their costs aren't factored in to competitive market analyses.

[Eddie Teach]

Sadly there is this thing called the Internet and video cameras so people end up posting it online at sites that I must stop frequenting now.

So that's all it takes to get rid of you? 

[Zanza]

I just bought a pair of shoes made in Germany. I wonder if that's the first pair of shoes I ever bought that is made here.

[The Brain]

Does Shakira sing Gypsy when touring in Europe?

[Ed Anger]

I can't sleep.

[katmai]

Seedy needs to move to Talkeetna.

[Ed Anger]

I can't sleep.

This shit is annoying me.

[katmai]

Any idea why? The change in climate? Stress? Pressure to have another baby?

[sbr]

Refried bean withdrawals.

[Ed Anger]

Crepe overdose

[katmai]

[CountDeMoney]

Seedy needs to move to Talkeetna.

I don't know;  I fear the locals would frown upon a coup d'chat.

[katmai]

C'mon Seedy you know you want to vist!

[katmai]

Soccer clubs hold the top two spots among the world's most valuable franchises, but it is American football teams that dominate the rest of the top 50. All 32 NFL teams made the cut, led by the Dallas Cowboys, worth $1.85 billion, tied with the New York Yankees for third overall. The Cowboys are the kings of the NFL thanks to their $1.2 billion stadium, which generates more than $100 million annually from premium seating and nearly $60 million from sponsors like AT&T, Bank of America, Ford Motor and PepsiCo.

The List:

#1 Manchester United ($2.23 billion)

#2 Real Madrid ($1.88 billion)

#3 New York Yankees ($1.85 billion)

#3 Dallas Cowboys ($1.85 billion)

#5 Washington Redskins ($1.56 billion)

#6 Los Angeles Dodgers ($1.4 billion)

#6 New England Patriots ($1.4 billion)

#8 Barcelona ($1.31 billion)

#9 New York Giants ($1.3 billion)

#10 Arsenal ($1.29 billion)