Mid-Week Open Thread (2011-08-03)

Here is your open thread for the mid-week on August 3rd, 2011. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known.

Be sure to also check out the forums, and get your word in the user-driven discussions there!

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

24 comments:

  1. 1
    David S says:

    In my search area 98038, for my criteria upper mid tier to lower upper, I note the following:

    48 listings
    12 pending
    2 are not short sales

    IMHO this doesn’t look like a healthy market to me. Fall is the next selling season metaphorically speaking.

  2. 2
    Cheap South says:

    Just looking at it made me claustrophobic. I am for small spaces; but I need windows.

    http://www.dailymail.co.uk/travel/article-2011438/Polish-architect-building-worlds-narrowest-house-Warsaw-tower-blocks.html

  3. 3

    RE: Cheap South @ 2 – At least you don’t have to decide which direction the bed goes!

  4. 4
    David S says:

    By David S @ 1:

    In my search area 98038, for my criteria upper mid tier to lower upper, I note the following:

    48 listings
    12 pending
    2 (of the 12) are not short sales (I didn’t look to see how many of the other active listings are)

    IMHO this doesn’t look like a healthy market to me. Fall is the next selling season metaphorically speaking.

    (edited in parenthesis)

    Slow day today is everyone at a convention?

  5. 5
    Blurtman says:

    Dendreon plunges on slow sales, plans ‘across the board’ layoffs

    http://seattletimes.nwsource.com/html/businesstechnology/2015811229_dendreon04.html

  6. 6
    Cheap South says:

    By Blurtman @ 5:

    Dendreon plunges on slow sales, plans ‘across the board’ layoffs

    http://seattletimes.nwsource.com/html/businesstechnology/2015811229_dendreon04.html

    “Provenge costs about $93,000 for a three-stage course of treatment that on average extends life by four months.
    …….
    Sales are slow because, although doctors are signing up at a fast clip to prescribe Provenge, they aren’t actually using it at the pace Dendreon expected, officials said.

    A look at 17 large urology and oncology practices found 1,000 patients eligible for Provenge but only 10 percent receiving it, Gold said on a conference call with analysts.

    Some doctors are concerned about whether and how quickly they will be reimbursed by insurance companies, Gold speculated.”

    $93,000 for 4 months of life? It has to be a typo. Otherwise, any doctor that has the balls to prescribe this stuff must feel pretty dirty when the reimbursement comes and the patient is already dead.

  7. 7
    Pegasus says:

    By Cheap South @ 6:

    $93,000 for 4 months of life? It has to be a typo. Otherwise, any doctor that has the balls to prescribe this stuff must feel pretty dirty when the reimbursement comes and the patient is already dead.

    Not a typo. It’s correct. Medicare approved, too!

  8. 8

    By Pegasus @ 7:

    By Cheap South @ 6:

    $93,000 for 4 months of life? It has to be a typo. Otherwise, any doctor that has the balls to prescribe this stuff must feel pretty dirty when the reimbursement comes and the patient is already dead.

    Not a typo. It’s correct. Medicare approved, too!

    And pfft no doubt would think that’s a good expenditure of funds, and not give a damn about the impact on the national debt or insurance rates. It’s just free money to someone with not long to live!

  9. 9
    Pegasus says:

    By Kary L. Krismer @ 8:

    By Pegasus @ 7:

    By Cheap South @ 6:

    $93,000 for 4 months of life? It has to be a typo. Otherwise, any doctor that has the balls to prescribe this stuff must feel pretty dirty when the reimbursement comes and the patient is already dead.

    Not a typo. It’s correct. Medicare approved, too!

    And pfft no doubt would think that’s a good expenditure of funds, and not give a “golly” about the impact on the national debt or insurance rates. It’s just free money to someone with not long to live!

    So much for containing medical costs. Hip operations on people in their 90’s, drugs that cost over 10,000 a month, etc. What ever happened to turning the sick and elderly loose in the wilderness to forage for their own? Maybe we should arrange trips to go see and play with the supposedly endangered polar bears?

  10. 10

    RE: Pegasus @ 9 – Some people in their 90s are rather active, so I don’t think you should base something like hip replacement on just age. But spending $90,000 so that a very sick person can be very sick 4 months longer, that’s really hard to justify, unless they themselves can afford to spend that money and want to do so.

  11. 11
    chrisM says:

    Interesting pricing strategy by a bank —

    http://www.redfin.com/WA/Everson/3903-Cabrant-Rd-98247/home/15795062

    Raise the price from 190k to 280k. Presumably there was a remodel, but 90k worth of remodel?

  12. 12

    RE: chrisM @ 11 – It’s not a bank. The property was bought at a foreclosure sale by a third party entity.

  13. 13

    Seattle Real Estate Can’t Depend on a Health Care Boom Either

    That was a complete joke, IMO.

    A letter from a President of a nursing service company I’m a board member for bioengineering research:

    “….Sent: Monday, August 1, 2011 10:04 AM
    Subject: Keeping up to date with the “nursing shortage”

    From The Infusion Nurse Society Connection (an online information publication dated July 2011)

    “Nursing degrees have long been touted as the golden tickets to immediate employment. But recent nursing graduates are coming into an unexpectedly tight job market. Since 1998, there has been a shortage of nurses, but then came the recession and many older nurses set to retire decided to keep working instead. And as people lost their jobs and benefits, hospital visits decreased. So recent nursing graduates now face a double whammy–more competiton for fewer jobs.”

    Nurses lose their bargaining leverage when there are large numbers of unemployed nurses with similar skills waiting just outside the gates. Employers no longer have to pay high wages to older nurses when they can simply find excuses to “let the older nurses go” and hire hungry new nurses for less money. New graduates will be thrilled to get jobs and will be less likely to make demands on the employers for other benefits like health insurance and vacation time. Frustrated nursing graduates may give up trying to gain employment and resort to going back to college which will result in nurses with even higher degrees competing for the ever shrinking number of positions. Patients will lose the benefit of having older and more experienced nurses caring for them. A continuing recession only exacerbates this downward spiral.

    I think the implications for nursing are significant. What are your thoughts on this?…”

    My answer back:

    “…bodyI’m laughing Guy…. the teachers and nurses we’re overly haughty during the Bush regime IMO, thinking overpopulation Bush [Obama too] was the “cat’s meow” for their job security…more people more patients the dummies thought.

    Its really, more people, less wages, collapsed job market….a downward spiral without depopulation. Engineers too.

    I heard Chrysler is doing the best of all auto companies [sales up 20%, their products have vastly improved]….Toyota the worst [sales down 23%], I hear Toyotas are considerred junky cars now, cheaply made, unsafe and “vibration” noises with too much plastic.

    What goes around, comes around-…”

  14. 14
    Dirty_Renter says:

    Senators urge end to US Development aid to China.
    http://finance.yahoo.com/news/Senators-urge-end-to-US-apf-3973667824.html?x=0&sec=topStories&pos=5&asset=&ccode=

    I’m fairly confident this falls into the ‘You Can’t Make This Sh*t Up’ category.

  15. 15
    chrisM says:

    RE: Kary L. Krismer @ 12 – Interesting, Kary. Redfin has it as bank-owned, and the public MLS notes start off with “Bank Special!!!”

    Wonder what the deal is?

  16. 16
    Scotsman says:

    RE: Dirty_Renter @ 14

    Or the ” no shiiit, sherlock” category.

  17. 17
  18. 18
  19. 19
    Pegasus says:

    Another sign of the times: “Bank of N.Y. said charging for big cash positions”

    The banks want you to pay them to hold your cash now…………

    In the latest sign of the fears roiling global markets, the Bank of New York is preparing to charge some large depositors to hold their cash.

    The biggest U.S. custodial bank said this week in a note to clients that it will begin slapping a fee next week on customers who have vastly increased their deposit balances over the past month.

    http://www.marketwatch.com/story/bank-of-ny-said-charging-for-big-cash-positions-2011-08-04?reflink=MW_news_stmp

  20. 20
    Pegasus says:

    Foreclosure Starts Increased in June

    The June Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows that, while still down 16.4 percent from the start of the year, foreclosure starts increased by more than 10 percent in June 2011. Delinquencies were also up, but incrementally, showing a 2.4 percent increase over May. As of the end of June, 4.1 million loans were either 90+ days delinquent or in foreclosure, representing a 12.8 percent increase since June 2010.

    Foreclosure timelines continue their upward trajectory, with the average loan in foreclosure having been delinquent for a record 587 days. More than 40 percent of 90+-day delinquencies have not made a payment in more than a year. For loans in foreclosure, 35 percent have been delinquent for more than two years.

    Looking at the differences between judicial and non-judicial foreclosure states, the LPS data shows that the foreclosure pipeline ratio – that is, the number of loans either 90+ days delinquent or in foreclosure divided by the six-month average of foreclosure sales – is more than three times as high for judicial foreclosure states. Additionally, the slowdown associated with foreclosure moratoria has been almost exclusively felt in judicial states.

    http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20110804.aspx

  21. 21
    ricklind says:

    By Pegasus @ 7:

    By Cheap South @ 6:

    $93,000 for 4 months of life? It has to be a typo. Otherwise, any doctor that has the balls to prescribe this stuff must feel pretty dirty when the reimbursement comes and the patient is already dead.

    Not a typo. It’s correct. Medicare approved, too!

    4 months can be a lifetime, enough to put affairs in order.

    Rick

  22. 22
    Pegasus says:

    By ricklind @ 21:

    By Pegasus @ 7:

    By Cheap South @ 6:

    $93,000 for 4 months of life? It has to be a typo. Otherwise, any doctor that has the balls to prescribe this stuff must feel pretty dirty when the reimbursement comes and the patient is already dead.

    Not a typo. It’s correct. Medicare approved, too!

    4 months can be a lifetime, enough to put affairs in order.

    Rick

    Maybe if they would start earlier when they find out they are terminal they wouldn’t need taxpayer or insurance company dollars to fund their procrastination? It isn’t a surprise for most that they are dying. What’s next? Convincing people to spend a $100,000 Medicare dollars to live another week on some new drug? Preying upon the ill and their families is an old con. Say… you don’t work for Dendreon do you or own stock in the company?

  23. 23
    Blurtman says:

    RE: Pegasus @ 22 – Angling for a job on the death panels? A cursory Google search of prostate cancer patient advocacy groups will reveal the positve sentiment towards Provenge and the clamor for its approval, and anger when it was originally not approved by the FDA.

  24. 24
    ricklind says:

    RE: Pegasus @ 22

    No, I have no connection with any pharma company. And I agree that the cost/benefit ratio is often poor. The economics of cancer care would shock most sane Americans.
    I have also take care of terminal patients and they often do not have lots of time to arrange affairs.
    4 months can literally be a lifetime.
    Rick

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