The Bad News Report

[caterpillar2]

15 hours ago, jednc said:

I noticed a pattern with those candidates.

It is likely just a matter of time until we have a mayor like the former mayor Barry, of Washington, D.C. or the moron Mayor Nevin of New Orleans (Katrina).

[tozmervo]

4 minutes ago, caterpillar2 said:

It is likely just a matter of time until we have a mayor like the former mayor Barry, of Washington, D.C. or the moron Mayor Nevin of New Orleans (Katrina).

or that zany Patrick Cannon, amiright?

[jednc]

5 minutes ago, caterpillar2 said:

It is likely just a matter of time until we have a mayor like the former mayor Barry, of Washington, D.C. or the moron Mayor Nevin of New Orleans (Katrina).

I hope not. There was a time when this type of stuff was shameful to the people involved and the public at large would never consider voting for someone like this. These days, bad behavior and an inability to run your own life is marginalized or made into some joke as though it doesn't even matter.

[caterpillar2]

4 minutes ago, tozmervo said:

or that zany Patrick Cannon, amiright?

Holy crap!  I forgot. We have already reached that point. Not much better at this point.  (JMHO)

[kermit]

2 hours ago, jednc said:

I hope not. There was a time when this type of stuff was shameful to the people involved and the public at large would never consider voting for someone like this. These days, bad behavior and an inability to run your own life is marginalized or made into some joke as though it doesn't even matter.

"Make ignorance and incompetence shameful again"

[CLT2014]

Charlotte's mayor doesn't have that much power due to the structure of our government. It is largely a ceremonial role so pick a good cheerleader

Be sure to pay more attention to the City Council elections. Those are the folks holding all the power and employ the city manager who runs the day to day. 

The following members of the city council are not running for their city council seat so we will have some new faces:

District 2: Ivory (Dem)
District 5: Ajmera (Dem) [Running for at large seat instead of District]
District 6: Smith (Rep) [Running for Mayor instead]
At Large: Lyles (Dem) [Running for Mayor instead]

Reflecting the political demographics of the city, there are no Republicans running for office in District 1, 2, 3, 4, and 5. There are no Democrats running for District 6 and District 7. All at-large candidates are Democrats. 

Edited September 1, 2017 by CLT2014

[HighRiseHillbilly]

3 hours ago, grodney said:

Eh, we all have skeletons.....I know I could never run for office.....no financial or legal issues.....but I've had some pretty regrettable internet posts.  "grodney, a candidate for mayor, in 2008 photoshopped a naked wiener onto a Mr. Bean's Holiday movie poster.  Reached for comment, he said "Hop Drop is 7.2%, what can I say?"."

 

I have already rehearsed my answers for when I run for office:

"Heck yeah, I did it. $hit was fun, too. Next question."

2 hours ago, caterpillar2 said:

It is likely just a matter of time until we have a mayor like the former mayor Barry, of Washington, D.C. or the moron Mayor Nevin of New Orleans (Katrina).

Lack of character runs all the way up the ladder, these days. 

"Grab 'em by the ......" 

 

The entire government needs an intervention.

[jednc]

53 minutes ago, kermit said:

"Make ignorance and incompetence shameful again"

Now THAT is a big red hat I'd actually wear!

[Nick2]

15 hours ago, KJHburg said:

I think this is bad news for our housing market. Big Wall street investment firms snapping up first time buyer homes all over Charlotte and they are not letting go of them, Turning some neighborhoods into huge rental SF home communities. Squeezes out first time buyers. http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article170431257.html

This is a HUGE deal. Right now they have only gobbled up 10,000 in the Charlotte area (not just city). It isn't a huge number  in the market as a whole but it was near zero just a few years ago. If this trend continues, it could be catastrophic for the housing market. The negative consequence that's mentioned in the article is that if these investors find that it's not a good idea to keep them anymore, they'll release them all at once and flood the market.

But even worse in my opinion, is that they continue to rapidly increase their investment which will rapidly drive up home prices. This will cause a shortage in first time buyers homes which will cause those prices to skyrocket. And it will create a massive glut of new homes because the builders will continue building rapidly to meet the inflated purchasing of the investment firms and the already robust natural demand. This would essentially create a housing bubble because of those artificially inflated prices. This squeezes out actual first time buyers like KJHburg said.

And I'm not saying it will get anywhere near what it's like in other cities. But look at NYC or Shanghai for worst case scenarios to what this can do to the market. The reason multimillion dollar condos are actually still being built in NYC is that foreign investors from China and the middle east are buying them as investments (and just to be in NYC). And a similar thing is happening in shanghai but with the rich Chinese buying them all. It's basically impossible for the average chinese person to rent or buy ANYTHING that's being built new in Shanghai. And in some places the prices rival or even exceed manhattan.

[KJHburg]

Lets save UP by putting all the Political discussion into the Coffee House discussion forum on the upcoming mayoral race. We all know politics in full of bad news but this I think is for bad economic news or events that happen to Charlotte and the area. 

[Scribe]

On 9/1/2017 at 10:36 AM, kermit said:

"Make ignorance and incompetence shameful again"

Except Cannon was not ignorant or incompetent. He's a criminal. But now that he is out, he is being paraded at different state/county level functions, I will have to find the article... almost fell out of my chair!

[QClifer]

It was sad. I remember the article. I believe it said he could run for mayor again in a couple years.  Not sure if that was a joke or not

[caterpillar2]

18 hours ago, Scribe said:

Except Cannon was not ignorant or incompetent. He's a criminal. But now that he is out, he is being paraded at different state/county level functions, I will have to find the article... almost fell out of my chair!

 

Edited September 3, 2017 by caterpillar2

[Dale]

On ‎9‎/‎1‎/‎2017 at 1:41 PM, Nick2 said:

This is a HUGE deal. Right now they have only gobbled up 10,000 in the Charlotte area (not just city). It isn't a huge number  in the market as a whole but it was near zero just a few years ago. If this trend continues, it could be catastrophic for the housing market. The negative consequence that's mentioned in the article is that if these investors find that it's not a good idea to keep them anymore, they'll release them all at once and flood the market.

But even worse in my opinion, is that they continue to rapidly increase their investment which will rapidly drive up home prices. This will cause a shortage in first time buyers homes which will cause those prices to skyrocket. And it will create a massive glut of new homes because the builders will continue building rapidly to meet the inflated purchasing of the investment firms and the already robust natural demand. This would essentially create a housing bubble because of those artificially inflated prices. This squeezes out actual first time buyers like KJHburg said.

And I'm not saying it will get anywhere near what it's like in other cities. But look at NYC or Shanghai foIn my r worst case scenarios to what this can do to the market. The reason multimillion dollar condos are actually still being built in NYC is that foreign investors from China and the middle east are buying them as investments (and just to be in NYC). And a similar thing is happening in shanghai but with the rich Chinese buying them all. It's basically impossible for the average chinese person to rent or buy ANYTHING that's being built new in Shanghai. And in some places the prices rival or even exceed manhattan.

My line of work has me visiting newly closed homes. I meet people who look like they're squatting in opulent houses.

[kermit]

5 hours ago, Dale said:

My line of work has me visiting newly closed homes. I meet people who look like they're squatting in opulent houses.

Could you elaborate on the point you are trying to make here?

(its an honest, rather than politically motivated, question -- I am just looking for a bit more discussion of what you mean)

Edited September 4, 2017 by kermit

[Dale]

17 minutes ago, kermit said:

Could you elaborate on the point you are trying to make here?

(its an honest, rather than politically motivated, question -- I am just looking for a bit more discussion of what you mean)

Bolsters the point that increasing numbers of new homes are investment properties

[KJHburg]

No what happening is big Wall St backed investment funds are snapping up many homes under 250K for rental homes and the bad news is that is pushing out first time buyers and pushing prices up. In fact the first 2 new single family home communities that are all rental are being built in Concord. One of these was planned to be single family home for sale in the low 200s now it will be all rental homes. This is the first time I have seen this in this area.  However most of these huge investment funds are snapping up existing resale homes and are crowding out first time buyers. And since most home builders are building homes starting only over 200K it puts a real affordability crisis for first time buyers. The question is will investors dump their homes in the future depressing prices.  I dont think this is likely but they may decide to get out the business.  These large investment funds have distorted the market. They helped absorb the excessive supply in 2009/2010 but now since they are not selling them even though they could make some good money it has further constrained the market. Most individuals who bought in that same time period would have considered selling their homes at a profit and moving up or out or something but these investment funds are not selling. 

Here are 2 of them and they may own homes in your neighborhood. Most tenants I talk to would rather deal with a more local landlord than the bureaucracy of these large owners. Imagine managing an apartment complex when the individual units are scattered from Ft Mill to Mooresville to Gastonia to Kannapolis to Monroe and everywhere in between. 

https://www.americanhomes4rent.com/   http://www.invitationhomes.com/market/the-carolinas/

[Dale]

I see 700K neighborhoods going downhill.

My own neighborhood is pristine. But it has stringent HOA covenants and is probably entirely owner-occupied.

[CLT2014]

UTC Aerospace Systems (HQ'd in Charlotte in the airport office parks) is one of four divisions of United Technologies (HQ'd in CT). The division HQ is made up of highly paid management positions responsible for $14.5 billion in sales and 41,000 employees. 

United Technologies announced today they are purchasing Rockwell Collins, headquartered in Cedar Rapids, Iowa. The UTC Aerospace Division and Rockwell Collins will be merged into a new division called "Collins Aerospace Systems." The CEO of Rockwell, Kelly Ortberg, will be the CEO of the Collins Aerospace Systems division.

While Charlotte is home to 300 positions for UTC Aerospace, Rockwell Collins has 8,000 employees in Cedar Rapids. The HQ of the division has not yet been announced -> in bad news report due to the high level of risk Charlotte loses status as the HQ for Collins Aerospace Systems to Cedar Rapids, Iowa. 

http://www.thegazette.com/subject/news/business/wsj-united-technologies-to-buy-rockwell-collins-for-reported-23-billion-20170904

[KJHburg]

I agree this purchase puts at risk of UTC division HQ here but Charlotte is so much more accessible from an air travel perspective than Cedar Rapids. I am betting most jobs here might stay here and there might be a shuffling around of jobs but our city is so much easier to attract talent to than a Cedar Rapids. 

[Nick2]

This new UP layout. Yikes

[ES Charlotte]

24 minutes ago, Nick2 said:

This new UP layout. Yikes

While I enjoy many of the new elements, the full width ratio isn't easy on the eyes or brain for processing content. The attached image comes to mind. 

Nevertheless I appreciate the other improvements

 

 

of course I didn't upload a 1920px wide file that displays my thought correctly, but you get the point haha

Edited September 6, 2017 by ES Charlotte

[Neo]

25 minutes ago, Nick2 said:

This new UP layout. Yikes

There are some substantial 'under the hood' improvements like the ability for members to create 'clubs' (which are like mini-forums that you get to be in charge of) within the site. I decided to go with a more modern look. I know it isn't for everyone. Everytime I do an upgrade to the site and change the look I always get some that find it absolutely appalling. Most usually get used to the changes and I hope they are for the better of the site and its members. 

[ES Charlotte]

32 minutes ago, Neo said:

There are some substantial 'under the hood' improvements like the ability for members to create 'clubs' (which are like mini-forums that you get to be in charge of) within the site. I decided to go with a more modern look. I know it isn't for everyone. Everytime I do an upgrade to the site and change the look I always get some that find it absolutely appalling. Most usually get used to the changes and I hope they are for the better of the site and its members. 

Don't mistake my post for not appreciating the updates :-) 

[Nick2]

It will just take some time to get used to. I don't like it right now but I'm sure over time I'll like it more. Change is hard.

 

It does seem a lot more modern looking in it's design and layout and I'm sure there are a bunch of cool new features that I haven't seen yet. For instance, I didn't know about the clubs.