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Mortgage applications hit 4-year low as interest rates rise
Mortgage applications hit 4-year low as interest rates rise
Potential buyers are backing off because of high rates and low inventory
November 07, 2018 02:15PM
(Credit: iStock)
Rising interest rates are pushing mortgage applications to four-year lows.
The Mortgage Banker Association’s market composite index, a measure of loan application volume, fell 4 percent last week to its lowest point since December 2014, according to Bloomberg. The drop correlates with rise in the contract rate on a 30-year fixed loan from 5.11 percent to 5.15 percent last week.
Together with strong pricing for housing around the country and a scarcity of listings, homebuyers are feeling the pressure. In some areas, high mortgage prices and low inventory are dragging down on the market.
The slowdown has prompted some lenders to shrink their mortgage divisions — Wells Fargo laid off 600 workers in August and JPMorgan laid off 400 employees nationwide last month.
Mortgage rates and commercial borrowing costs are expected to keep climbing. Federal Reserve Chairman Jerome Powell has been raising the benchmark borrowing rate to curb inflation and steady an expanding economy. Another hike is expected in December. [Bloomberg] – Dennis Lynch
Source: https://therealdeal.com/2018/11/07/mortgage-applications-hit-4-year-low-as-interest-rates-rise/
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Naomi Osaka recalls anonymous days before rise to the top in tennis
“I could tell you a story about that day, but I’m not going to,” she said of her 6-3, 6-3 win on clay. “I remember I didn’t eat that entire day. So I just went onto the court, and I just decided to hit everything, and luckily it went in, and I think that’s how I won, to be honest. She was just really, like, shocked, I think, because we were around the same age but I didn’t really play juniors, so nobody really knew who I was.”
Source: https://www.latimes.com/sports/more/la-sp-bnp-paribas-open-naomi-osaka-20190311-story.html
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Ranking the Most Ridiculous Shots from LeBron's 51-Point Eruption
There are only a handful of people in the world who can drop 50 points in an NBA game. There might be just one who can do it on the shots that LeBron James was making in his 51-point performance in Miami on Sunday.
James put an absurd degree of difficulty on his attempts, but nonetheless got his buckets efficiently, shooting 19-of-31 from the field and 6-of-8 on 3-pointers.
It was a master’s class in shot-making, as the four-time MVP put on a sizzling showing that included six fadeaways, six step-backs and much more.
10) Steal and slam to start A minute into the game, LeBron made his first dent on the scoreboard on a sequence that began with defense.
Miami had the ball on the baseline, and James read the inbounds pass perfectly. He got his paw on the rock, sprinted ahead for Lonzo Ball’s outlet pass and cocked the ball back for a thunderous tomahawk slam.
9) Trip to the bank James did a lot of his work off Tyson Chandler’s mountainous screens, including this and-1 that gave the Lakers their first double-digit lead.
Finishing through a foul is tough enough, but having the finesse to do so off the glass is a rarity.
8) Ending the half in style The Lakers inbounded the ball with less than six seconds remaining until the halftime buzzer, but that was more than enough for the world’s best player to take it coast-to-coast.
James took advantage of a scrambled Heat defense. The center initially tried to pick him up 94 feet away; the point guard started covering him at half court; and the shooting guard attempted to meet him at the rim.
It was the recipe for another and-1.
7) Put some ice on it James — one of the best post players of all-time — had a two-inch, 50-pound size advantage on shooting guard Josh Richardson and backed him down on the block.
Richardson gave LeBron a little shove back, so he spun for a shot fake to make Richardson raise his hands to contest — just so he could deliver another bruising shoulder to his chest before falling away for two.
6) Next stop: Liberty Island Josh Hart (as he does) ripped down an offensive rebound, and LeBron saw opportunity.
He cut into the lane and (with Kyle Kuzma sneakily boxing out the last defender) rose up for a ferocious Statue of Liberty style dunk.
5) Fastest draw in the West(ern Conference) James used another screen from Chandler to get the matchup he wanted. There are few opportunities LeBron seems to enjoy more than cooking big guys with his step-back, and Bam Adebayo was on the menu here.
The sophomore actually did a solid job of closing out with his 7-foot-1 wingspan, but LeBron’s quick shooting mechanics got the ball out of his hands (and into the bucket) in an instant.
4) Post delivers on Sunday With the shot clock winding down, LeBron took the time to savor the chance to have a shooting guard defending him.
James backed Rodney McGruder down to the block before firing one of the prettiest shots in basketball: the baseline fadeaway.
3) Limitless LeBron found his hot hand early, as he scored 18 points in the first quarter alone. This included a range-redefining triple over Justise Winslow that James may have launched from Little Haiti.
Said Heat center Hassan Whiteside: “When he’s hitting shots like that, what do you want us to do? He was shooting 30-foot bombs.”
2) On the daily I mean, what even was this?
LeBron got downhill off a Chandler pick, but began drifting away from a waiting Kelly Olynyk. Right before he left the paint, he sprang back for a fadeaway that would’ve resulted in a smashed controller if it happened to you in NBA 2K.
“Just give him the ball and get out of the way,” Kuzma said. “… We always talk about how he facilitates and has a pass-first mentality, but he could average 40 if he wanted.
“He shot a lot of fadeaways. It’s no surprise though. He works on it every single day.”
1) Fifty-one LeBron finished the night with the 12th 50-point game of his career, surpassing Allen Iverson for sixth-most all-time.
But the King would’ve never reached his 50-count if it weren’t for Lance Stephenson’s prodding, and LeBron’s ensuing 32-foot step-back.
“Lance told me to finish the game off and said, ‘I bet you won’t shoot a 3,’” James laughed, “so I went for the 3. I was pointing right at Lance.”
Source: https://www.nba.com/lakers/news/181119-ranking-most-ridiculous-shots-lebrons-51-point-eruption
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Home builder stock prices are up, ending months-long decline
Home builder stock prices are up, ending months-long decline
Job market growth and a decline in mortgage rates contributed to the boost in optimism
Home builders are feeling more confident in January
There are promising signs in the housing market — share prices of the nation’s largest home-building companies are up.
Builder confidence also ticked up slightly this month after hitting a three-year low in December, according to a monthly survey of home builders by the National Association of Home Builders.
In January, stocks for home-builders moved upwards from the month before, but they remain down by at least 29 percent over the last year, according to a report by the Wall Street Journal. Beazer Homes USA Inc. saw a 21 percent increase in stock price from December, while D.R. Horton Inc. is up 7.6 percent.
Lennar Corp.’s stock price is up 12 percent from last month, likely due in part to a bump in year-end revenue and executive chairman Stuart Miller’s contention in a recent earnings call that slowing mortgage rate hikes are boosting the company’s pool of buyers.
Toll Brothers Inc.’s stock price is up 5.8 percent, after it took in a record $7.14 billion in 2018. But the company reported that contracts dipped 13 percent in the fourth quarter.
The Federal Reserve has tempered its benchmark rate increase projections in recent months, which has slowed down mortgage rate hikes, but the consensus among market watchers is that the federal funds rate will continue to climb in 2019, which could slow economic growth.
The home construction industry is also under pressure due to labor shortages and rising prices on materials. [WSJ] — Dennis Lynch
Source: https://therealdeal.com/miami/2019/01/24/home-builder-stock-prices-are-up-ending-months-long-decline/
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Museum at FIT plans retrospective for 50th anniversary
Robyn Turk
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Thursday, January 17 2019
The Museum at the Fashion Institute of Technology is hosting a retrospective of its own history. For the museum’s 50th anniversary next month, its celebratory exhibition will be a recap of some of its most popular exhibits in its history.
Titled “Exhibitionism: 50 Year of the Museum at FIT,” the exhibit will be a conglomeration of 33 of its most influential past shows.
Along with more recent exhibits such as 2013’s “Shoe Obsession,” “A Queer History of Fashion” of 2013, “Black Fashion Designers” from 2017 and the 2016 “Fairy Tale Fashion,” the show will feature historic exhibits like 1987’s “Surrealism and Fashion.”
While the museum functions as part of a university, the Museum at FIT earned accreditation from the American Alliance of Museums in 2012. It is helmed by notable fashion historian Valerie Steele, who has been with the institution since 1997 and currently works as museum director and chief curator.
“Exhibitionism” will be on display from February 15 through April 13.
Source: https://fashionunited.com/news/culture/museum-at-fit-plans-retrospective-for-50th-anniversary/2019011725661
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As buzz of White Sox and Bryce Harper continues at Winter Meetings, they reportedly prefer him to Manny Machado
As buzz of White Sox and Bryce Harper continues at Winter Meetings, they reportedly prefer him to Manny Machado originally appeared on nbcsportschicago.com
LAS VEGAS - South Side baseball fans have been dreaming about Bryce Harper signing up with the White Sox ever since they were first reported as interested a month ago back at the GM Meetings.
Now it's the Winter Meetings, baseball's annual frenzy of offseason activity, here in Harper's hometown, no less, and the noise surrounding that possibility keeps getting louder.
One thought was floated on the first night of these meetings that the Harper sweepstakes might already be down to a final three teams, the White Sox being one of them alongside the Philadelphia Phillies and Los Angeles Dodgers. Representatives from the New York Yankees and St. Louis Cardinals spent Monday telling reporters they likely weren't going to sign Harper. The Washington Nationals' owner already said he doesn't think Harper will be back in the nation's capital. And the big-spending Cubs are financially tied up to the point where they might not be a possibility for Harper, either.
That all adds up to the White Sox being in one heck of a unique position to land one of the best players in baseball and the biggest fish on this winter's free-agent market.
One of the game's biggest national names chimed in Tuesday morning. The Athletic's Ken Rosenthal authored a column explaining the White Sox situation and their pursuits of Harper and fellow mega free agent Manny Machado. For those who have followed every scrap of information regarding the White Sox and Harper over the last month or so, this served better as an explainer than a news-breaker. But Rosenthal did mention that the White Sox appear to prefer signing Harper to Machado. He also mentioned that the Crosstown-rival Cubs are "not engaged in a pursuit of Harper," perhaps more emphatically taking them off the table as possible competition.
Certainly both 26-year-old superstars would fit in with the White Sox long-term plans, but there definitely exist questions about Machado's fit that don't exist about Harper's. First, Harper could easily slide into the team's hole in right field, whereas Machado has stated his desire to play shortstop, one of the few positions where the White Sox have a long-term piece on their major league roster. Second, Machado's now-infamous comments about his distaste for hustling contrasted sharply with manager Rick Renteria's "don't quit" culture and his persistent benching of anyone who he felt didn't hustle during the 2018 season.
It's a mystery whether either of those things impact the White Sox thinking on which star they prefer. But Machado's incredible production with the bat and with the glove makes him an attractive long-term option, regardless.
Rosenthal's piece focused on team chairman Jerry Reinsdorf, who famously handed out baseball's then-biggest-ever contract in 1996 to sign Albert Belle. Harper is expected to receive the new biggest contract in baseball history this winter. Rosenthal included this line, as well:
"Reinsdorf privately has expressed doubt his team will actually win the bidding for Harper or Machado, according to a source with knowledge of his thinking. But even with the White Sox at least a year away from contention, he is not stopping his front office from engaging in the pursuit of the two stars, and the possibility of a marriage with Harper seemingly is growing more realistic."
The competition might not be as big as once imagined, but it should still remain fierce. The Phillies have vowed to spend "stupid" this offseason in their pursuit of building a contender. The Dodgers are always a threat to cough up large sums. And the potentially lurking Cubs, as Rosenthal mentioned, have a trio of $100 million players on their roster right now, so they're obviously not shy about spending big.
But the White Sox have almost no long-term financial commitments to speak of, their financial flexibility achieved as part of their ongoing rebuilding effort. Team vice president Ken Williams said Monday that they have shifted into a more aggressive mode this winter, not a surprise to hear aloud after months of their reported activity involving any number of available players.
Story continues
General manager Rick Hahn has been saying for months that the team will look to take advantage of opportunities that make sense for the long-term future of the club, and it's hard to argue any move would make more long-term sense than adding Harper (or Machado) to lead a group of talented youngsters, many of whom have yet to reach the major leagues, into perennial contention mode.
"It's very important for us to remain very diligent where we are in this," Hahn said Monday night. "We're entering Year 3 of a rebuild, and although I think there's some potential skepticism that it might be a year too soon, perhaps be pushing it, we're very mindful of that. And we also want to balance the fact there is some unique opportunities out there in the market, and we wouldn't be doing our job - even if it is perhaps a year too early - not doing our job if we didn't fully vet those opportunities.
"It doesn't mean we're going to just look for any way to make some sort of splash. It has to fit with the long-term vision of what we're trying to accomplish. Traditionally, the third year of a rebuild isn't always the time where you push those chips in, so to speak, but when unique opportunities present themselves you have to respond."
The challenge would seem to be convincing Harper or Machado (who has a different set of reported suitors, though the White Sox are reported to be very much in the mix there, too) to join a team whose plans for the future are just that, plans, as opposed to teams like the Yankees or Dodgers or even the Phillies, to a degree, that can point to win-now rosters and recent examples of success at the major league level. Hahn thinks he has the right selling points with his carefully assembled collection of minor league talent and the bright future this rebuilding effort has created.
"Someone asked me last week when we did a conference call, 'How do you sell a team that lost 100 games last year?' And really, the conversations we're having aren't about our past, they're about the future," Hahn said. "And everyone who's involved in the game and follows the game closely knows where we're headed and what we've tried to accomplish over the last couple years and what we're going to continue to build for in the future. And in terms of the prospect of being something special for an extended period of time in the future in Chicago, that has appeal to people. That's more important to them than where we were last year in the second year of a rebuild."
And so the buzz continues to increase in volume when it comes to the possibility of Harper landing on the South Side. The White Sox seem willing and able to spend and aggressive in pursuing this one-of-a-kind opportunity. But until a deal is done - with the White Sox or one of their competitors - the race is still on.
Click here to download the new MyTeams App by NBC Sports! Receive comprehensive coverage of your teams and stream the White Sox easily on your device.
Source: https://sports.yahoo.com/buzz-white-sox-bryce-harper-160235908.html?src=rss
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Fashion for Good joins forces with Bestseller
Bestseller, the intentional fashion company with more than 20 brands in its portfolio including Vero Moda and Jack and Jones, has announced that it is partnering with innovative platform, Fashion for Good to help bring “game-changing” circular innovation to supply chains.
The partnership coincides with the launch of Bestseller’s Fashion FWD, a new strategy that aims to make sustainability central to its way of doing business. The strategy emphasises the immediate need for inclusive and holistic action on sustainability across the value chain to make the fashion industry as sustainable as possible.
As part of Fashion for Good, Bestseller will also engage in setting the platforms innovation strategy, said both organisations, including defining focus areas, taking part in the selection of new innovators, as well as providing expertise and mentorship to the selected startups.
In addition, Bestseller will benefit from specialised scouting and screening support, as well as preferential access to market-ready innovations through Fashion for Goods established and expanding network.
Katrin Ley, managing director of Fashion for Good, explained the new partnership in a press release: “We are delighted to join forces with Bestseller as they launch Fashion FWD – Bestseller’s new strategy which makes sustainability central to its way of doing business.
“The focus areas of Fashion FWD – ranging from innovative new materials to circular business models - are perfectly aligned with Fashion for Good’s innovation agenda. Together we want to speed up the transition towards good fashion.”
Dorte Rye Olsen, Bestseller sustainability manager, said: “At Bestseller, we want to bring sustainable fashion forward until we are climate positive, fair for all and circular by design. To do this we need sustainable innovation and industry collaboration. This is exactly what Fashion for Good represents and why we are pleased to announce our new partnership with them.”
Other organisations that support Fashion for Good’s programmes includes the C&A Foundation, Adidas, Galeries Lafayette Group, Kering, Otto Group, PVH Corp., Stella McCartney, Target and Zalando.
Image: courtesy of Fashion for Good/Bestseller
Source: https://fashionunited.com/news/fashion/fashion-for-good-joins-forces-with-bestseller/2018121025006
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Largest unit in Palm Springs’s midcentury Ocotillo Lodge seeks $699K
Palm Springs is known for its midcentury architecture, and this property is one of the city’s gems. The Ocotillo Lodge was completed in 1957 and designed by influential architects Dan Palmer and William Krisel. The complex was built by developers George and Bob Alexander—whose famed Alexander Houses have something of a cult following among lovers of midcentury modern.
Residence 111 is the largest unit in the complex and is the only two-story unit on the premises, according to the listing.
The two-bedroom, three-bathroom dwelling comes with its own private swimming pool, which curves around the corner of the unit, and three outdoor patio areas. Midcentury hallmarks such as walls of glass and clerestory windows appear throughout, but the unit has clearly been updated with new finishes, most visible in the kitchen.
The unit’s other notable features include a wet bar, in-unit laundry, and recessed lighting. The 1,500-square-foot unit is listed for $699,000 with Scott Cook and Rob Rueth of Architecture8.
The updated kitchen is bright with plenty of counter space.
The unit is the only one in the complex to have two stories.
The post and beam construction is classic midcentury modern.
Clerestory windows keep the interiors bright.
The Ocotillo Lodge has its own amenities, including a communal pool.
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Source: https://la.curbed.com/2019/4/30/18523883/ocotillo-lodge-palm-springs-midcentury-palmer-krisel-for-sale
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Rent spike in LA shows affordability crisis may be deepening: report
Rent spike in LA shows affordability crisis may be deepening: report
Average prices for 1-bed units jumped more than 24 other cities, new data shows
(Credit: iStock)
Los Angeles’ affordability troubles have persisted for years, but a new report shows how quickly it may be getting worse for renters.
Median rent for one-bedroom apartments in L.A. spiked 15.7 percent last month compared to last year – a higher rate than any other major city in the country, according to Zumper, the apartment search site. It was the biggest year-over-year jump for Los Angeles this year, said Crystal Chen, a Zumper spokesperson.
Just last month alone, the median price for one-bedroom units jumped 2.5 percent compared to August. The median rate for two-bedroom units also jumped 9.5 percent since last year.
The report comes a week before Californians vote on an initiative that would allow cities and counties to regulate rent increases. Zumper tracks the rates that median rent has increased by in cities across the country for one- and two-bedroom units over the past year.
None of the major cities — including New York, Miami and Chicago — saw a greater increase for one-bedroom units than Los Angeles in the September year-over-year calculations.
According to the report, Los Angeles is home to the fourth-most expensive rental market in the nation, with median prices for one- and two-bedroom units now at $2,430 and $3,220, respectively.
Median rent for one-bedrooms in San Francisco, the most expensive market of all, dropped slightly, by 0.8 percent, to $3,620, in Zumper’s latest report. Two-bedroom units fell 1.7 percent to $4,720. Neighboring San Jose, home to the the third-highest median rate for one-bedrooms, saw its rents increase 1.6 percent to $2,510, while its two-bedroom units decreased 0.6 percent to $3,220.
By contrast, New York City’s one-bedroom rent is about $2,850, and its two-bedroom rents fell 1.2 percent to $3,240.
Nationally, one- and two-bedroom rents grew 0.7 percent last month, to $1,203 and $1,432, respectively, according to Zumper.
The high rents in major California cities illustrate the tensions over the outcome of Prop. 10, one of the most expensive campaigns in state history.
The Costa-Hawkins law that would be repealed if the proposition passes prohibits cities and counties from imposing new forms of rent control on single-family and apartment buildings constructed after 1995. If Prop. 10 passes, local governments could expand rent control as they see fit.
The Zumper report analyzed rental data from more than one million listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population.
Source: https://therealdeal.com/la/2018/11/01/a-16-percent-rent-spike-shows-l-a-s-affordability-crisis-may-be-deepening/
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Contemporary brand Three Dots acquired by Los Angeles manufacturer
Dale Arden Chong
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Friday, June 21 2019
Southern California brand Three Dots, which abruptly closed its doors earlier this year April, has been acquired by FAM Brands.
The Los Angeles-based company will assume design and manufacturing for the brand while also hiring new executive positions and other main roles for Three Dots, according to California Apparel News.
Three Dots has been looking for a buyer for quite some time before unexpectedly closing in April 2019, just before Easter Weekend. FAM Brands, the owner of several activewear labels, is excited to resume production of the contemporary brand and begin growing the Three Dots brand even further.
Source: https://fashionunited.com/news/business/contemporary-brand-three-dots-acquired-by-los-angeles-manufacturer/2019062128465
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Vans sues Target over copyright infringement on sneakers
Robyn Turk
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Monday, December 31 2018
Vans is on a mission to prevent counterfeiting. Just days after the footwear brand slapped a lawsuit on Primark for copyright infringement, it filed a similar suit against Target. According to Vans, Target has made an effort to mislead shoppers into thinking its products are associated with the Vans label.
Filed in a California federal court, the new Vans lawsuit is in regard to its Vans Old Skool style. The same shoe was at the center of the lawsuit against Primark. Available in a variety of colors, the Old Skool was first introduced in 1977 and each iteration is united by a single curved stripe along each of its side. That side stripe is protected by trademark, and according to the Vans lawsuit , its “prominent placement and often-contrasted color make Vans’ shoes immediately recognizable to consumers even at far-off distances.”
Both Target and Primark utilized a side stripe in their products, though not exactly in the same shape as the original Vans stripe. The main difference in the products that consumers will likely notice is that the Target shoe retails for 15 dollars, while the original Vans Old Skool costs around 65 dollars on the brand’s site.
Additionally, Vans has pointed out that when shoppers search the term “women’s Vans shoes,” on the Target website, this item appears as a result. The brand points out in its lawsuit that this is misleading to shoppers and that “consumers will likely make the mistaken assumption that the infringing is, in fact, the result of a collaboration between Target and Vans.”
Source: https://fashionunited.com/news/fashion/vans-sues-target-over-copyright-infringement-on-sneakers/2018123125338
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Does Free Agent Status Matter Anymore?
I still hear and read the term “buying free agent years” when people discuss NHL contracts, but I’m not sure it is relevant anymore.
It is interesting to note that since a salary cap was put in place after the 2005 lockout, the salaries of NHL players has actually changed significantly. Players don’t have to wait until unrestricted free agency to get paid huge money.
In 2003/2004 only two players in the top-30 highest paid were under 28 years of age: Jarome Iginla and Joe Thornton. Iginla was in his eighth season and was ninth in salary at $8 million, while Joe Thornton was the 29th highest paid player at $5.5 million in his seventh season.
Only four other players were in their twenties, while 24 of the top-30 highest salaries were 30 years of age or older.
In 2005/2006, the first year out of the lockout, we saw immediate change in the distribution of salaries.
Nine players 27 years of age and younger were now in the top-30 in cap hit, and 12 were under the age of 30.
By 2010/2011 the NHL pay structure had swung in the favour of younger players.
Only 12 players in the top-30 cap hits were 30+ years of age.
The top-three paid players were Alex Ovechkin ($9.5m), Sidney Crosby and Evgeni Malkin ($8.7m each). They were 24, 22 and 23 and all on their second contract. They were the elite scorers in the game, so it makes sense they got paid big money, but other young players who were good and just out of their entry-level contracts like Anze Kopitar and Nicklas Backstrom were 17th and 18th in cap hit, while Patrick Kane and Jonathan Toews were tied for 26th in cap hit at $6.3 million.
In the three previous seasons Ovechkin, Malkin and Crosby were first, second and third in total points, Backstrom was eighth, Kane 17th, Kopitar 20th and Toews 38th. Toews had just finished second in Selke voting, and the others were all-stars. There were two D-men in the top-15 in cap hit: Zdeno Chara (ninth) and Brian Campbell (11th), while Henrik Lundqvist was the top goalie (16th). There were a total of three goalies in the top-30 and seven D-men.
Fast forward to today and the NHL salary structure is poised to change once again, at least for forwards.
Currently, Connor McDavid and Auston Matthews are #1 and #2 in cap hit. Both are early into their second contracts. Jack Eichel (eighth) and Leon Draisaitl (23rd) are the only other players under 24. There are five D-men and two goalies in the top-30 cap hits.
But we are about to see a major influx of young players jump into the top-30, and likely the top-20.
Mitch Marner (94 points), Brayden Point (92), Mikko Rantanen (87), Sebastien Aho (83), Matthew Tkachuk (77) all finished in the top-31 in NHL scoring this year and will be 22 or 23 years young this season. Patrik Laine had a down season, by his standards, with 30-20-50, but over the past three seasons he is sixth in goals with 110 and trails only Matthews (111), McDavid and John Tavares (112), Nikita Kucherov (120) and Ovechkin (133). Laine will get a hefty raise, but I see him getting a bridge deal.
Jeff Skinner was a pending UFA and he signed an eight-year deal worth $72 million earlier this week. His $9 million cap hit is the 16th highest in the NHL. He had a career best 40 goals and 63 points last season. I think this was a desperate signing by the Sabres. They couldn’t afford to lose him, especially after how bad the Ryan O’Reilly trade looks less than a year later. Skinner is a good player, but he isn’t elite and has never produced more than 63 points, yet he makes $9 million a year.
Point had 41 goals and 92 points. Do you think his agent will want him taking less than Skinner? Can’t see why.
I think the days of buying UFA years are over for productive forwards. It used to be only the truly elite like Ovechkin, Crosby, Malkin got big money out of their ELC, but this summer that is going to change, and once that door opens it will be impossible for NHL GMs to close.
Apr 17, 2019; Toronto, Ontario, CAN; Toronto Maple Leafs forward Mitchell Marner (16) pursues the play against Boston Bruins in game four of the first round of the 2019 Stanley Cup Playoffs at Scotiabank Arena. Mandatory Credit: Dan Hamilton-USA TODAY Sports
I’d argue this is a good thing for teams. They will be locking up young players just entering their prime, instead of paying 27-30-year-olds big money. Your chances of having a young player not living up to his big contract are much lower than an older player. We have decades of data to prove what are the most productive years for the vast majority of NHL players, especially forwards, and it isn’t between the ages of 28-34.
I’m curious how teams and the agents will approach the signings.
Mitch Marner’s agent is looking for $10+ million/year contract, and if he gets it why wouldn’t Rantanen, Point or Aho command the same?
The past two seasons Marner has produced 48-115-163 in 164 games (.99 points per game), the 19th most points in NHL over that span. Rantanen has 60-111-171 in 155 games (1.10 PPG). 16th most points in NHL. Point has 73-85-158 in 161 games (0.98 PPG). 23rd most points in NHL. Aho has 59-89-148 in 160 games (0.94 PPG). 29th most points in NHL. Tkachuk has 58-68-126 in 148 games (0.85 PPG). 57th most points in NHL.
Then you look at some other stats courtesy of Corsica.
Player P/60 GF% CF% PDO Marner 2.43 56.7 51.9 102.5 Rantanen 2.12 57.6 51.9 101.9 Point 2.50 60.5 52.0 103.3 Aho 2.16 57.9 55.5 101.1 Tkachuk 1.99 51.5 57.0 98.2
You can look at PK ability, the fact Point is the only centre and the best goal scorer, and I don’t see how anyone can suggest Point isn’t worth as much, if not more than Marner. I see Rantanen in same boat as Marner. I think Aho is right there as well. He doesn’t have the elite linemates like the other three and still has great numbers. Tkachuk is slightly below, but his ability to draw penalties and antagonize adds to his value as well.
I don’t see any of them coming in under $8 million a year, which would tie them for 28th in AAV next season courtesy of PuckPedia.
It will be fascinating to see which one signs first. Will that set the bar? Point plays in Tampa Bay and tax implications could impact his AAV. He will be taxed less than the others, so will his cap hit reflect that? Other teammates in Tampa have taken a lower cap hit because of this.
Which team signs their top-end RFA first?
I’ve heard for years about an offer sheet, and who should/would make one, but we haven’t seen one since the Calgary Flames offered Ryan O’Reilly a two-year deal during the 2013 lockout shortened season. Colorado matched it.
Until I see one I won’t believe a team would do it, but here is the compensation chart if you are interested.
$1,395,053 or below: None $1,395,054-$2,113,716: 3rd round pick. $2,113,717-$4,227,437: 2nd round pick. $4,227,438-$6,341,152: 1st and 3rd round picks. $6,341,153-$8,454,871: 1st, 2nd and 3rd round picks. $8,454,872-$10,568,589: Two 1sts, one 2nd and one 3rd round picks. $10,568,590+: Four 1st round selections.
Offering $10.5 million makes the most sense as it only costs you two firsts, and one second and a third. However, I don’t see that being enough money to scare off any of those teams.
Would you want one of them at $12 million and sacrifice four first rounders? I can’t see it.
I think it is more realistic to see teams make an offer sheet on a middle six player on a team up against the cap.
Outside of these five young players, and Laine (who I think takes a bridge deal, which will still pay him at least $6 mill), there are some other good, young RFAs who are going to get big raises.
Timo Meier had 30 goals and 66 points. Kyle Connor had 34 goals and 66 points. What will the Canucks do with Brock Boeser (26-30-56 in 69 games)?
This will be the summer of the RFA, and despite Skinner having UFA status, I suspect at least four of these RFAs end up with a higher AAV this summer.
The younger players are getting more money early, and I don’t think the term “buying UFA years” carries the same cache it once did.
Source: https://oilersnation.com/2019/06/12/does-nhl-free-agent-status-matter-anymore/
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Call it a duuuuude ranch: John Wayne’s former property marketed as potential pot farm
John Wayne’s former property marketed as potential pot farm
The screen legend’s 2,000-acre California ranch is asking for $8 million
December 15, 2018 09:00AM
From left: Rancho Pavoreal, John Wayne (Credit: Weichert, Getty Images)
Legend has it that movie legend John Wayne smoked as many as a half a dozen packs of cigarettes a day. Now, a ranch once owned by the Duke could produce a different kind of smoke.
Wayne’s 2,000-acre California farm known as Rancho Pavoreal is up for sale, and it’s being marketed as a possible marijuana cultivation site, according to Inman.
The listing from Coldwell Banker‘s Tatiana Novick touts the Riverside County property’s ample space and three wells, and it suggests growing pot as a possible use for the land — along with wine cultivation, cattle raising and more.
Listed for $8 million, the ranch also includes a house decorated with memorabilia of Wayne, who died in 1979. It’s next to another ranch once owned by Walt Disney.
Cannabis cultivation has been legal in California since 2016 under certain circumstances. [Inman] — John O’Brien
Source: https://therealdeal.com/chicago/2018/12/15/call-it-a-duuuuude-ranch-john-waynes-former-property-marketed-as-potential-pot-farm/
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Tunnel to the future: Musk announces breakthrough on Hawthorne Loop
Tunnel to the future: Musk announces breakthrough on Hawthorne Loop
The billionaire announced drill work was complete on the mile-long initial phase, which will move vehicles on "skates" underground
Elon Musk (Credit: Getty Images) and the Hawthorne Loop tunnel
In Elon Musk’s Los Angeles of the future, commuters will breeze to work in cars and buses, all on a high-speed underground tunnel. Making the city more accessible could also be a boon to property developers, renters and homeowners.
While that reality is some years ago, Musk recently shared a video celebrating another milestone in the development of that rapid transit tunnel — or Loop — which will start in Hawthorne.
Musk’s firm, Boring Company, said its massive drilling machine had broken through to the end of the mile-long tunnel, which will be the initial phase. Musk announced in late October that the Boring Company would hold an “opening event” for that portion of the tunnel on Dec. 10, and offer free rides to the public the following day.
The test tunnel is about a mile long, shorter than the two-mile-long tunnel originally planned and approved by Hawthorne officials in August 2017.
Eventually planned for multiple locations through the city, the tunnels are much like traditional subway tunnels in form. But instead of train cars, they will transport individual vehicles, including buses that can fit up to 16 people, on so-called “skate” platforms at speeds up to 124 miles per hour. Musk dreams of building an elaborate network of such tunnels beneath the city to alleviate traffic in the car-clogged congestion.
The billionaire Tesla founder said he came up with the idea while sitting in L.A. traffic. Earlier this year, Musk said the tunnels could free Angelenos from traffic he called the “seventh and eighth rungs of Hell.”
In January, the Boring Company purchased a home in Hawthorne above the tunnel where it will install a car elevator for testing entry and exit from the tunnel.
The firm is working on two other tunnels, both within the bounds of the City of Los Angeles. One is set to run beneath Sepulveda Boulevard on the Westside. He’s received support from some city officials, but pushback from other agencies, including Metro.
The other tunnel is the so-called “Dugout Loop” that would run from a stop on the Metro’s Red Line to Dodger Stadium. Musk said a ride on the Dugout Loop would cost around $1 and could initially transport up to 1,400 people per event at the stadium.
Source: https://therealdeal.com/la/2018/11/19/tunnel-to-the-future-musk-announces-breakthrough-on-hawthorne-loop/
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Hot Property Newsletter: Passing go
Actor Michael Douglas, who is ready to part with his 250-acre estate in the Balearic Islands of Spain, is lending his voice to a video promoting the $32.38 million villa, reports Architectural Digest. The retreat, which Douglas bought in 1990 for $3.5 million, first came on the market in 2014, when it listed for about $60 million. The property includes a castle-like main house, cottages and apartments with a total of 10 bedrooms and 11 bathrooms, a home theater, a library, a game room and a wine cellar.
Source: https://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-newsletter-20190622-story.html
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Santa Monica developer to build 60-unit multifamily in Echo Park
Santa Monica developer to build 60-unit multifamily in Echo Park
Realty Investment Advisors wants to continue area's recent resi development push
Benjamin Hsiang and 600 N. Alvarado Street in Echo Park (Credit: Loopnet and Realtor)
Echo Park’s multifamily development push is still showing signs of life.
Realty Investment Advisors, led by Ben Hsiang, has filed plans to build a 60-unit multifamily complex at 600 N. Alvarado Street in Echo Park.
The developer, based in Santa Monica, purchased the site for $2.5 million last June from Raquel Dominguez, the surviving member of the D&R Dominguez 2016 Family Trust. The property consists of eight parcels totaling about 25,000 square feet facing Alvarado Street. It is close to the 101 Freeway, according to property records.
Three6ixty, a development consultant in Culver City, filed plans on behalf of the owner. Enrique Viramontes of RE/MAX Commercial and Investment Realty was the listing agent when it sold.
Echo Park is among a number of Eastside neighborhoods in Los Angeles that have seen a steady stream of residential development over the past year. In November, the owners of a shovel-ready 31-unit apartment complex decided to up-size their project to 77 units.
On a larger scale, Korda Group said in July it would build a six-story complex with 158 apartments near Dodger Stadium.
Source: https://therealdeal.com/la/2019/01/04/santa-monica-developer-to-build-60-unit-multifamily-in-echo-park/
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Who's Brokering Los Angeles (October 29): Rhett Winchell
Kennedy Wilson
Rhett Winchell is a real estate broker with 35 years of professional experience at global real estate investment company Kennedy Wilson. As President of the Real Estate Sales & Marketing group, Winchell leads a team of top agents in the industry. As a pioneer, Winchell has developed a proven accelerated marketing program that simplifies and streamlines the sale process while maximizing the sales price. Winchell’s clients include the highest echelon of real estate industry executives including financial institutions, governments, developers and investors. With over 50,000 properties sold worldwide, Winchell’s expertise extends to a wide range of property types including single family, new home developments, five-star resorts, bank owned (REO), government owned (FDIC), multifamily and commercial income, probate and trust, tax sales, and bulk offerings. Winchell’s unique and varied abilities to manage complex real estate transactions has resulted in sales of over $10 billion in commercial and residential real estate.
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Source: http://labusinessjournal.com/news/2018/oct/31/whos-brokering-los-angeles-october-29-rhett-winche/
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