I’m getting ready to head back to the SF Bay Area, but i wanted to dash out a quick post. The best news of the day was crude finally – FINALLY!!!!! – broke support. I’ve been waiting weeks for this. Honestly, this is seriously big news. The bull market in energy that started January 20th is over. I can’t be more plain about it.
I haven’t done many real estate posts lately, although, as an update to this one (in which an empty dirt lot was being offered for $10 million) I’ll mention that although the For Sale sign seemed to linger longer than usual, it was supplemented with a SOLD sign yesterday. So I guess the Chinese are still buying.
I’ve become quite inured to the lunacy of Silicon Valley real estate, so not much surprises me anymore, but I saw a full page color ad this morning in Gentry magazine (which is a free magazine they distribute around here, packed with a combination of real estate ads, for the tech zillionaires, and plastic surgery ads, for their vain spouses) that demands a post. So I’m writing it, you lucky so-and-so.
The color photographs of this nearly $5 million property featured the most blase, ordinary, McMansion style place you could imagine, but the headline was……. (more…)
OK, OK, it isn’t a “collapse”, but I like alliteration, and I needed a “C” word. Suffice it to say that I’m pleased crude has been weakening since twice hitting the +$50 mark.
Incidentally, Bernie Sanders is going to be here in Palo Alto today, and I’ll be going to the rally. I’ pretty excited about it. Bernie is, of course, the only moral person running for President. I firmly support him, and I would zealously applaud confiscatory taxes on all people except for financial bloggers, who I think should be given special dispensation given their marvelous contribution to society. Feel the Bern!
About a week ago, I wanted to watch something (out of the corner of my eye, as I often do during my trading day) that wasn’t Bob Ross or one of the movies I’ve seen a thousand times already. I fired up Netflix, and I decided to watch The Smartest Guys in the Room, the Enron story, whose trailer is here:
