Using Veritas to Construct the "Per…

29-04-2017 Hits:84640 BoomBustBlog Reggie Middleton

Using Veritas to Construct the "Perfect" Digital Investment Portfolio" & How to Value "Hard to Value" tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many...

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The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:79104 BoomBustBlog Reggie Middleton

The Veritas 2017 Token Offering Summary Available For Download and Sharing

The Veritas Offering Summary is now available for download, which packs all the information about Veritas in a single page. A step by step guide to purchasing Veritas can be downloaded here.

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What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:78949 BoomBustBlog Reggie Middleton

What Happens When the Fund Fee Fight Hits the Blockchain

A hedge fund recently made news by securitizing its LP units as Ethereum-based tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that...

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Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:83437 BoomBustBlog Reggie Middleton

Veritaseum: The ICO That's Ushering in the Era of P2P Capital Markets

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu...

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This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:80001 BoomBustBlog Reggie Middleton

This Is Ground Zero for the 2017 Veritas Offering. Are You Ready to Get Your Key to the P2P Capital Markets?

This is the link to the Veritas Crowdsale landing page. Here is where you will be able to buy the Veritas ICO when it is launched in mid-April. Below, please...

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What is the Value Proposition For Verita…

01-04-2017 Hits:82308 BoomBustBlog Reggie Middleton

What is the Value Proposition For Veritas, Veritaseum's Software Token?

 A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim: I've watched your video and gone through the slides. The exchange...

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This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:53284 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:81315 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:81315 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:81125 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:86979 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:84994 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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The NYC commercial and residential market is doing exactly what I told you it would do, drop. From the Real Deal, our local RE rag:

Manhattan office vacancies rise
The Manhattan Class A office vacancy rate rose to 6.9 percent in May, up from 6.4 percent in April and 5.3 percent at the beginning of the year, according to data from brokerage Colliers ABR. After JP Morgan and Bank of America added large blocks of office space Midtown's vacancy rate increased to 7.1 percent. The Downtown vacancy rate increased to 6.3 percent from 5.9 percent in April, as Goldman Sachs put its offices on the market in preparation to move to a new tower in Battery Park City. Midtown South saw improvements: Its vacancy rate fell to 9.9 percent, the first time it's been below 10 percent since January. TRD
NYC's delinquency rates rise
The 60-day mortgage delinquency rate rose in all five boroughs in the first quarter, almost doubling to 2.7 percent compared with last year, according to TransUnion.com. Queens had the largest increase of 92 percent. Brooklyn, the Bronx and Queens had delinquency rates higher than the national average of 3.2 percent. New York State had the 28th highest delinquency rate in the country. TransUnion.com expects the national delinquency rate to reach 4 percent before the year ends.  [Crain's]
 
Foreclosed homes ravage Bronx
Bronx residents are angry that crumbling foreclosed homes are attracting squatters and decreasing the value of their properties. Homes within 500 feet of one foreclosed home can knock off 1.8 percent of the sale prices of surrounding homes, according to data from New York University's Furman Center for Real Estate and Urban Policy. Three to five foreclosed properties can take 2.8 percent off surrounding homes, and 20 or more foreclosed homes in a neighborhood can decrease sales by 3.7 percent, the center said. [Post]
 

Nostalgia for old Harlem
As Harlem faces gentrification and rezoning, older residents miss their old familiar neighborhoods. Bodegas and dollar stores are becoming a thing of the past in some areas as $1 million condominiums rise next to tenements. A $300 million shopping center is replacing an abandoned wire factory. The average price for a new condo in Harlem is $900,000, although the average household income remains less than $25,000.  [NYT]
 
High-end market faces mixed signals
Preliminary data for sales in May shows that the number of homes sold for above $4 million was 52, the highest ever recorded, as brokers said demand was strong for unusual and expensive trophy properties. But at elite condo buildings like the Time Warner Center, 15 Central Park West and 40 Bond Street in Noho, condo owners have dropped their asking prices on re-sales. Sellers at 40 Bond have been competing with unsold units; the last unsold unit is a one-bedroom. Brokers said that despite concerns over the market and tighter credit standards, some properties are still setting off bidding wars among qualified buyers.  [NYT]
 

Whoever was around last year when my blog was still with typepad.com will remember how I warned about the rental market receiving a deluge of supply from the severely overbuilt condo market. Up until recently, many were confident because rental vacancies were tight and demand was strong due to all of the cash, credit and resources going into condos, multi-families and brownstones. Well, reality hits and condos are being converted to rentals at an extreme loss. You see, the dirt for condo development is much too expensive for the annuity stream payout nature of rental properties. Thus, those bankers and investors who expected lump sum exits from condo sales now have to wait a long time to see their P&I back, if ever. There is suddenly going to be a lot more rentals in town.

Condos turning rental
New developments planned as condos are turning into rentals, as the credit crunch and housing slowdown continue. East Harlem's 18-unit condominium Bridges NYC North is transforming some of its space into commercial and residential rental properties instead of accepting low buying offers, and already has Wachovia as an anchor tenant. At 99 Gold Street in Dumbo, 192 Spencer Street in Clinton Hill and the Continental at 185 South 4th Street, condos are also going rental. The Real Deal looked at the slowdown of Harlem's renaissance in this month's issue.  [Sun]
 

In addition, foreign investors are picking up thier purchases, which always seem to portent a sharp turn. They seem to ALWAYS buy in too late:

  Flatiron building bought by Italian investor
Real estate investor Valter Mainetti said he bought the iconic Flatiron Building. In 2006, Mainetti purchased a minority share in the landmark building, valued at $180 million today, and now he owns a 53 percent share. "The Flatiron is expensive, but with the [cheap] dollar, it made sense to increase our share," Mainetti told Time. "The stability of the New York real estate market is unique. This current crisis will pass, and the dollar will reestablish itself. We are confident." The Flatiron building was built in 1902; it was designed by architect Daniel Burnham. [Time]

If that doesn't signal a top, how about the most expensive purchase to date. Why don't these guys read my blog:

Zuckerman closes on GM Building
Real estate and media tycoon Mort Zuckerman closed a record deal on the $2.8 billion GM Building Monday and still had time to make a lunch date with the Real Estate Board of New York. Zuckerman, the scheduled speaker at a semi-annual REBNY members meeting, addressed about 650 real estate pros earlier this week. "By coincidence, they were closing at the very time he was speaking," REBNY President Steven Spinola said. "He didn't obviously have to be at the closing."  By Jane C. Timm