If the rate of inflation drops, that doesn’t mean prices are going down, just that they aren’t rising as fast. The price of groceries are still much higher now than when Biden took over. Same can be said for just about everything else I can think of.
That U.S. Gov’t Interest expense graph is brutal. At the rate we’re now spending and printing money, the Fed will have to keep inflation high for a long, long time to be able to service our rapidly growing debt. Of course, they won’t ever think of repaying any of it - only refinancing it over & over again.
San Francisco’s 350 Cal to be sold to Korean investor for “between $200 and $225 per square foot for the 300,000-square-foot Financial District building. That amounts to $60 million to $67.5 million — 75% below the $250 million sought when the building hit the market in 2020." https://twitter.com/idannyb/status/1658496384629379072
(click & drag on image to pan up/dn or left/right, use +/- to zoom)
More on the apartment foreclosure mentioned many posts above —
Texas apartment owner accused in lawsuit of defrauding investors of $12.4M
(paywall at link)
Apartment owner who lost thousands of Houston apartments in foreclosure this year is again under fire, this time from a group of Texas investors who are accusing the apartment buyer of essentially conning them out of $12.4 million. A group of 123 investors filed a lawsuit in Harris County this week accusing Applesway Investment and some of its related companies of fraud, theft and breach of fiduciary duties… The investors are mostly first-generation Indian immigrants living in Houston and Texas who heard about Applesway Investment’s potential real estate deals here through family, friends and word of mouth.