Using Veritas to Construct the "Per…

29-04-2017 Hits:87100 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...

Read more

The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:81042 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.

Read more

What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:80878 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...

Read more

Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:85351 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...

Read more

This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:81858 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...

Read more

What is the Value Proposition For Verita…

01-04-2017 Hits:84041 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...

Read more

This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:55090 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...

Read more

Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:83287 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...

Read more

Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:83034 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...

Read more

The Country's First Newly Elected Lame D…

27-03-2017 Hits:82930 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...

Read more

Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:89168 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.

Read more

The Transformation of Television in Amer…

21-03-2017 Hits:86904 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...

Read more

Required reading for this post is my comments on the NYC condo market which seems to have wrinkled a few overly-sensitive feathers. Be sure to read through the comment section. Then be sure to read The Truth About the Banks Has Been Released: the open source spreadhseet edition and The Re-Release of the Open Source Mortgage Default Model.  After that, if you're bored, there is always the T2 Partners analysis or even the NY Times' perspective (yeah, its the MSM, but it makes sense).

From the WSJ:

NEW YORK (Dow Jones)--Florida-style desperation to move condo inventory is headed for a neighbor of the Big Apple.

Metrovest Equities, developer of The Beacon in Jersey City, plans to auction 25 one- and two-bedroom luxury units June 27 at a nearby hotel. A dozen units are being offered "regardless of price" - an attention-grabbing measure designed to draw traffic. Suggested opening bids range from $150,000 to $250,000; they were originally priced from $380,000 to $700,000.

The condo auction - aggressive for this region, but common in the Sunshine state, which is battling a multi-year inventory glut [so is the northeast, it's just that no one is admitting it, at least not yet, but the evidence is overwhelming. The real estate depression is much closer to the epicenter than it is to the end!] - is designed to close out sales in the first phase of the project, 315 units in two buildings, as well as accelerate sales of the second phase, 25 live/work condos in a third building, the developer says. The sale is also another indicator that the New York area, which long seemed buffered from the nation's housing crash, is weakening as job losses and foreclosures mount. [Wait until all of the supply working its way through the system actually starts to register in the dangerously lagged but popularly followed stats]

The Beacon project - a $350 million-plus transformation of the 10-building Jersey City Medical Center - opened for sales at the height of the housing frenzy in late 2005. Buyers rushed to sign contracts - 40 a month, at one point - for the development replete with floor-to-ceiling marble, a billiard room with $1 million of sculpted artwork, two theaters, a hot tub and an 8,000-foot sundeck with a bar and barbecue grills.

But, by the time it was delivered in 2007, some buyers changed their minds or couldn't secure financing, says George Filopoulos, Metrovest Equities' president.

While the original phase, a former office building and hospital connected by a lobby, was 90% presold, "when the market fell down the tubes, we lost about 50 original contracts," he says. It is now 77.5% sold and occupied. [After 5 years (approximated) of debt service , where the developer had to carry a construction loan, unless they were forced into a bridge to permanent loan by their lenders and four years of marketing and sales, they are only 78% sold - Think what that portends for the guys who just broke ground last year or are opening for sales this year! Referene many of those developments in the "lying eyes" post that I made a few days ago.]

The timing of the initial wave of condos was far from ideal, but Filopoulos isn't giving up on restoring the art-deco campus built between 1931 and 1943. Billed as the largest historical residential restoration project in New Jersey's history, it will ultimately comprise 1,200 residences in 10 buildings and 80,000 square feet of retail space. [I wouldn't bet the farm on this. Bubble time ain't coming back anytime soon. After all, that's why they call it a "bubble"!]

Completion of five phases - originally set for 2010 - is now more likely between 2012 and 2014.

"The work is very intense, number one," Filopoulos says. "Number two, the market conditions changed significantly from when we first started."