Landmark Links October 2nd – Trophy Hunting

machine gun panda

Lead Story…. With rates at record lows and instability abroad, elite foreign investors have increasingly targeted trophy apartment properties as a way to move their capital to safer harbors.  However, all is not well as the rush of foreign capital is making some areas like downright un-affordable for domestic buyers.  There’s also concentration risk as investors ponder whether it’s really healthy to have 80% of new home buyers in a market like Irvine coming from China.

Economics

Confidence Conundrum: The two main measures of consumer confidence are diverging. Here’s why.

No One’s Buying: US exports, hurt by a strong dollar are keeping a lid on growth.

Connecting the Dots: Based on historical data, interest rates could stay low a lot longer than anyone thinks.

Shocking Revelation of the Day: It’s often difficult to sell illiquid assets.

Shameless Self Promotion: I was interviewed in Globe Street this week!

Commercial

Office Space: Nationwide office vacancy continues its slow and steady fall.

Residential

East Coast versus West Coast: Home price growth remained strong in July.  However, when it comes to home prices, west is best and east is least.

New Mortgage Rules: New regulations that will overhaul the mortgage industry could make it even more difficult to get a home loan.  Contra: Lenders are crying crocodile tears when it comes to new mortgage regulations.

Feeding Frenzy: Private equity is rushing in to buy up what’s left of troubled mortgages as the search for yield continues.

Lifestyles of the Rich and Famous: Here’s a list of the most expensive home for sale in every state.  See Also: Despite recent weakness at the ultra high end, JP Morgan is financing a three home ultra-luxury development on a Bel Air hillside where prices start at $115MM.

Profiles

Yelp for People: A new startup called Peeple that bills itself as “Yelp for People” is about to launch meaning that everyone that you know will now be able to give you a review and a 1-5 star rating – whether you want them to or not.  I’m sure that all citizens of the internet will utilize this service in a civil and productive manner.  Please go easy on me.

Rehab Riviera: The story of how Southern California became the rehab capital of the US.

Children of the Yuan Percent: Ultra rich kids in China might be even worse than Ultra rich kids in the US.

Data Trolling: Everybody’s favorite whistle blower Edward Snowden joined twitter this week in an effort to bring attention to how personal data is used by social media sites.  He had 1 million followers within the first 24 hours but only follows one account: his BFF the NSA. (h/t Tad Springer).

Getting Pitted: Check out this awesome new Wedge video during the huge surf on Labor Day weekend.  I can’t watch these anymore without thinking of this.

Chart of the Day

WTF

It’s a Bird, It’s a Plane….It’s a Dead Cow: The man who turned his dead cat into a drone is new building a helicopter out of a cow. (h/t Ingrid Vallon)

Worst Hair Day Ever: Builder’s foam makes a really terrible hair product, as one Russian woman recently found out.

Hero: Check out this dolphin diving to retrieve an iPhone for a Miami Heat dancer after she dropped it in the water.

Landmark Links – A candid look at the economy, real estate, and other things sometimes related.

Visit us at Landmarkcapitaladvisors.com

Landmark Links October 2nd – Trophy Hunting

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