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Some Vendors Are Agreeing To Slash Asking Prices And Experts Say More Bargains Could Be On Offer

A report from Post Media on Canada. “April can be one of the better months of spring, but April 2020 will be most remembered as the month of the fall. To put it mildly, the month was not a good one for resale housing markets across Canada, says the Canadian Real Estate Association. ‘I still believe that there’s a balance that’s been found in Calgary and Edmonton and the Alberta market in general. Look back to February and volumes were up 11 percent year over year in Calgary. It was the right trend, showing that the market had absorbed the excess condominium stock; that the new normal had sort of settled in. Then you get a further plunge in the value of oil and the pandemic hitting at once and you think ‘this is going from bad to worse,’ said Phil Soper, CEO of Royal LePage.”

The Calgary Herald in Canada. “One of the roles of industry watchdog, Canada Mortgage and Housing Corp., is to track new home starts and monitor inventory in the housing market. Senior analyst Heather Bowyer says there’s an oversupply of completed and unabsorbed (unsold) housing units in the Calgary area, which is an indicator of overbuilding. ‘There were 2,026 in April 2019 to 2,346 April 2020, so we’re up a little bit from last year but nothing too crazy,’ she says, noting most of the oversupply is in the apartment condo sector.”

“This has contributed to buyers’ market conditions in the resale sector, which also applies to new construction. Buyers have more bargaining power in negotiating a price. ‘When we see elevated inventories, the prices come down to create some new demand,’ Bowyer says.”

The Guardian on Australia. “Retirees who have lived off a steady stream of share dividends have seen their income plunge as banks cancel payouts, and they face more financial pain in coming months when research shows more companies are likely to slash their distributions because of the coronavirus crisis. The Australian Prudential Regulation Authority has also called on insurers and other institutions it regulates to cut or defer dividends. Wayne Strandquist, the president of Air, said retirees who invested in commercial or residential property were also taking a hit due to tumbling rents.”

“‘They’re struggling to find a reliable source of income,’ he said. ‘They might have a lot of assets on paper but they’re not making anything.'”

From Nine News in Australia. “It was supposed to be a sea-change for Melbourne woman Beverley Johnson – a stylish home with bay-views in McCrae on Victoria’s Mornington Peninsula. Residential construction company Archiblox had promised to deliver the modular build in four months. But it’s been four years and Archiblox has gone bust, leaving Ms Johnson out of pocket and without her dream home. ‘Our lives have just been in complete limbo,’ she told 9News. ‘We’ve paid $800,000 for not a lot.'”

“Families who’d bought into a Williamstown townhouse development by Bayland Property Group have similar horror stories. Jane Wall was hoping to spend her twilight years in the home. ‘I was supposed to be retired but I’ve got to kiss that goodbye because I need to pay rent somehow,’ Ms Wall told 9News. Bayland has since gone under and many families at the development have faced years of delays and financial strain.”

“Young parents Jamie and Carolina Bowes say they made a ‘fatal mistake’ when they were ‘pressured’ into purchasing a lot from Bayland in 2018. ‘It was pretty much ‘you need to sign the contract now’,’ Mr Bowes told 9News. ‘Our rental costs, including what we pay here on the interest, we’re paying around $6000 a month, which over 18 months will be over $100,000.'”

The Herald Sun in Australia. “Savvy Melbourne househunters are making the most of ‘buyer’s market’ conditions by negotiating discounts worth tens of thousands of dollars across the city. Some vendors are even agreeing to slash asking prices by multimillion-dollar sums — and experts say more bargains could be on offer if the coronavirus crisis drags on. New realestate.com.au figures show house sellers who were prepared to negotiate in Doveton, in Melbourne’s outer southeast, shaved a median 5.22 per cent from their asking prices this year. This equated to an average $22,000 discount.”

“Realestate.com.au also found 58 per cent of Portsea house sales this year had been discounted by a median $100,000. Almost 53 per cent of houses transacted in Melton South also sold below their asking prices, along with 43.86 per cent in Gisborne and 43.75 per cent in South Melbourne. A whopping 68.33 per cent of Carlton unit sales were discounted by an average $10,000.”

“A Chirnside Park mansion sold for a heavily discounted $2.55 million in January. The opulent home hit the market asking $5-$5.5 million about a year prior, along with two adjoining empty lots that were later listed separately. Several Melbourne mansions are still awaiting buyers after major reductions, including 1 Bay St, Brighton (price slashed from $27-$29 million to $22 million), 1750 Westernport Rd, Heath Hill (from $13.8-$15.18 million to $11-$12 million), 23 Bambra Rd, Caulfield North (from $11-$12 million to $9-$9.9 million).”

“Advantage Property Consulting director Frank Valentic said the research showed affluent, ‘mortgage belt,’ holiday and inner-city unit markets were most susceptible to discounting. ‘In these times, vendors are going to be more motivated (so) there are opportunities out there for buyers,’ he said.”

The Hong Kong Standard. “Hong Kong homebuyers are backing out of deals amid fears of a price slump sparked by Beijing’s introduction of the new national security law in the city. K. Wah International (0173) recorded nine cases of forfeited deposits at Solaria in Tai Po totaling around HK$11.83 million. The nine flats measure between 325 square feet and 597 sq ft and are offered at HK$6.28-10.92 million.”

“Meanwhile, a prospective homebuyer forfeited a deposit of about HK$380,000 after calling off the purchase of a 327-sq-ft flat at The Vertex in Cheung Sha Wan, which was offered at HK$7.69 million, and another buyer gave up a deposit of about HK$460,000 after canceling the purchase of a 484-sq-ft flat at Seaside Sonata in Sham Shui Po which was priced at HK$9.13 million.”

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This Post Has 86 Comments

  2. Tampa, FL Housing Prices Crater 17% YOY As Guf Coast Housing Market Turns Toxic On Rampant Appraisal And Mortgage Fraud

    https://www.zillow.com/tampa-fl-33617/home-values/

    *Select price from dropdown menu on first chart

    As a leading economist advises, “Mortgage debt is the most toxic and damaging debt of all. Avoid it at all costs.”

  3. ‘ retirees who invested in commercial or residential property were also taking a hit due to tumbling rents. ‘They’re struggling to find a reliable source of income,’ he said. ‘They might have a lot of assets on paper but they’re not making anything.’

    It’s a good thing the REIC ran that FOMO operation last year, right Wayne?

  4. ‘Our lives have just been in complete limbo,’ she told 9News. ‘We’ve paid $800,000 for not a lot’

    Well, it was cheaper than renting Bev.

  5. ‘I was supposed to be retired but I’ve got to kiss that goodbye because I need to pay rent somehow’

    Wow, you really are fooked Jane. No shack and you pay rent.

  6. – No income from bank savings or CDs.
    – Stocks cutting divideds.
    – Central banks have destroyed savers.
    – And will force these folks to invest in highly risky assets that they don’t understand for some kind of yield.

    How do you think this is going to end?

    “‘They’re struggling to find a reliable source of income,’ he said. ‘They might have a lot of assets on paper but they’re not making anything.’”

    1. ‘They’re struggling to find a reliable source of income, they might have a lot of assets on paper but they’re not making anything’

      Sir, this is a Wendy’s.

    2. – No income from bank savings or CDs.
      – Stocks cutting dividends.
      – Central banks have destroyed savers.

      It’s easily overlooked, but up until about 2000, people could have a lot of ‘safe’ investments returning 4-6% and plan on using those to fund retirement. But ever since the great runup crashed in 2000, and the govt has stepped in to protect the wealthy and well-connected, they’ve been hozed.

      I feel like it’s finally “sunk in” the masses of more-ordinary people that the old rules for saving have been altered and not for their benefit. Just because we’re seeing a potential crash right now, I don’t think people will stop their current behavior of ‘extreme return seeking’ very much – they don’t have any alternatives and they know it.

      1. they don’t have any alternatives

        Of course they do. One novel alternative is to live modestly, well below their means, and not ever go into debt. Some of us have been quietly doing this for a long time and are just fine.

        When things cracked up in 2008 I was discussing some of the carnage with my mom. I said I didn’t know what a lot of people are going to do. Without hesitation she replied “They’ll learn to live like we did.”

        She was born in the early 1920s.

        1. “They’ll learn to live like we did.” Mother was born in 1914. Lard sandwiches were a treat for her. Her mother paid a farmer $5 to get a ride to the county courthouse so she could pay her real estate taxes of about $3.50 and get a receipt as proof of payment. Family bought meat when the farmer down the road slaughtered a cow. Her brothers caught fish in nearby streams. Her grandmother preferred to walk 3 miles into town (and then back) rather than ride on the awful state highway in grandpa’s Model T.

      1. If you believed that central bankers were going to inflate at any cost going forward, wouldn’t sticking with cash be a bad gamble?

  7. Phil says: ‘It was the right trend, showing that the market had absorbed the excess condominium stock’

    ‘there’s an oversupply of completed and unabsorbed (unsold) housing units in the Calgary area, which is an indicator of overbuilding. ‘There were 2,026 in April 2019 to 2,346 April 2020, so we’re up a little bit from last year but nothing too crazy’

    I think Phil’s a lion.

  8. Well, that was certainly cheaper than renting…

    ‘It was pretty much ‘you need to sign the contract now’,’ Mr Bowes told 9News. ‘Our rental costs, including what we pay here on the interest, we’re paying around $6000 a month, which over 18 months will be over $100,000.’”

  9. Honk Kong is about to become part of China.
    Even the Chinese (rich) don’t want to live in China.

    ““Hong Kong homebuyers are backing out of deals amid fears of a price slump sparked by Beijing’s introduction of the new national security law in the city.”

    1. 7.5 million people. I wonder how many will choose to get out with their lives. Maybe the Commonwealth Countries can take them in.

      1. Maybe the Commonwealth Countries can take them in.

        Maybe the ones who already expatriated large sums of money in exchange for a visa. Everyone else is probably stuck.

        One would think than Hong King residents would have seen the handwriting on the wall a long time ago, but I suppose that as long as money can be made people will stay put until it’s too late.

        1. “One would think than Hong King residents would have seen the handwriting on the wall a long time ago … ”

          Lots did. Canada is full of Hong Kong expats. Many Hong Kong families have homes in both Hong Kong and Canada. If things go totally sideways with China they have a safety valve.

      1. We urge the United States to correct its mistakes

        We’ll try Zhao. It’s going to take some time, and it will hurt, so buckle up!

        1. urge the United States to correct its mistakes That “correction” will probably hurt you more than it hurts us.

  11. Colorado Springs, CO Housing Prices Crater 10% YOY As One Brokers Concedes, “Appraisal Fraud Is Rampant”

    https://www.zillow.com/colorado-springs-co-80908/home-values/

    *Select price from dropdown menu on first chart

    As one Colorado Springs broker conceded, “If you’re a buyer, the broker is lying to you. I know a liar when I hear one. I’ve been lying my entire life.”

  12. In the previous thread someone said that no one has calculated a mortality rate (death rate for all cases, not just confirmed positive) for COVID-19 yet. Then there was a comment with some data for NYC:

    initial studies suggest that perhaps 15-21% of people have been exposed so far. In getting to that level of exposure, more than 17,500 of the 8.4 million people in New York City (about 1 in every 500 New Yorkers) have died,

    That calculates to a total mortality rate of 0.9% – 1.4%. That’s 10 times more deadly than the flu. I expect the mortality rate to decrease somewhat as testing improves, as treatment is begun earlier, and as hospitals improve their treatment protocols. But even at best case scenario, IMO that mortality rate is just too high.

    1. Every thing I have read about every place but NYC the death rate is between
      1 in 1000 to 3 in 1000,
      or .01% to .03%

      Why is NYC such an outlier. Not sure I trust NYC data.

      1. The only reason NY’s mortality rate is 10x every other data point is that NY is looking for a bailout. Don’t be swayed by the pseudo-science and doubletalk by the liars. They are many.

        1. That and what I expect will eventually be revealed years from now. The hospitals were killing people through pervasive medical malpractice especially regarding the use ventilators.

          1. Medical malpractice, seriously? What malpractice did they commit? It’s not as if they were deviating from an established protocol, or were negligent. This is a brand-new virus causing a brand new disease. NOBODY knows what to do.

          2. This is a brand-new virus causing a brand new disease.

            OK, “Novel” is it’s name, but that narrative is looking weaker and weaker. Consider that it is a familiar lock with a new key, or something like that.

            That our people in charge are a ship of fools is undisputed.

      2. I think you mean 0.1% to 0.3% eg 0.3% of a population of 350 million is 1.05 million people.

    2. 17,500 of the 8.4 million people in New York City…That calculates to a total mortality rate of 0.9% – 1.4%

      Actually that calculates to 0.197%. Just do the math.

      The Covid death statistic according to the NYC Health Department stands at 196 per 100,000 population. 0196%. How you get something an order of magnitude higher is beyond me. Perhaps you are reading the NYTimes?

      Is mortality higher than flu season 2017 or 1009? Not by an order of magnitude. NYC anyway is an open sewer on a subway train.

      1. I factored in the exposure rate. 20% exposure = 1,700,000 exposed. 17500 deaths/1700000 exposed is about 1%.

        I’m sure there’s different ways to define mortality rate, but it didn’t make sense to me to count people who weren’t even exposed.

        1. people who weren’t even exposed

          How about counting everyone who wasn’t in an absolute quarantine. Count everyone who went to the grocery or any other store, visited with a friend or relative, brought in their mail and packages or lived or visited someone who did.

          I’m keeping an eye on Ontario Canada. Their death count peaked about a month after the peak in NY. It is now approaching insignificant. The majority of their fatalities have been in nursing homes and in Toronto. Yet all the “news” is Case count is still Increasing! They are still accelerating the testing program and now anyone who wants can go get tested. The positives keep going up but the % positive is falling like a rock along with the deaths. But Case Count!

          If people are not dying, not even being hospitalized, who cares what the “case count” is?

          My county has started laying off government employees. No sales tax revenue. Nobody is sick, just crushed.

      2. Gotta admit, the kid is tough crashing on concrete like that and getting back on the bicycle for more.

    4. that mortality rate is just too high The virus cares not what anyone’s opinion re: the death rate will eventually turn out to be. Yet to be determined: deaths due to delayed or foregone medical care from all the other diseases mankind is prey to, deaths from despair after the economy collapses, and probably other unforeseen consequences of the lockdown.

      1. “…mortality rate.. ”

        It’s hard for me not to think about the average of 225 thousand medical mishaps deaths per year. Add to that a average of 35 thousand regular flu deaths per year.

        When the above stats didn’t send off the alarms and apparently was considered business as usual, one wonders about truth in Covid-19 reporting .

        Apparently nursing homes have always had a high death rate from lung infections year in and year out.

        I know the medical front line people are doing the best they can with a new virus, but I don’t trust the numbers. But, it looks like nursing homes suck.

        1. nursing homes suck

          They have for a long time. My Ex was an untrained “nurse’s aid” in those places back in the early 70s. The stories made me hope I died suddenly when it came to that.

          I read somewhere that suicide and drug abuse account for 120,000. It’s not the numbers (no matter how suspect), it’s the momentum of the hysteria.

    5. ” … That’s 10 times more deadly than the flu. …”

      Not the end of the world but its a big deal nonetheless.

      1. It’s good to realize the “not so bad” tally of 100,000+ U.S. COVID-19 deaths occurred with full quarantine measures in place. Clearly with less stringent quarantine measures, more deaths would have happened.

        1. more deaths would have happened.

          LOL. Would you consider yourself somewhat of a Quarantine Outlaw? We could have saved lives if we had followed the rules.

  13. This is a story about Casey. He built a mini empire in Wine Country just east of Seattle. Casey got bit by that ole greed bug and bit off a little more than he could chew. He should have learned from his wrestling days.
    Looked at what that easy money got Casey. A big case of stoopid. A freakin’ putting green in a “wine country private estate” Renting for $686 a night before that nasty virus took hold of the economy.
    https://www.homeaway.lk/p1770724vb

    Currently for rent- https://hotpads.com/16008-ne-175th-st-woodinville-wa-98072-1n4fn2b/pad?border=false&lat=47.7739&lon=-122.1313&maxCreated=168&z=13 FURNISHED- $6,000 month.

    From a projected $20,580 a month (high tourist season in Wine Country) to $6,000 a month. Casey, I’d say that’s a steal. Pin ’em Casey! Get that signature! QUICK. Don’t go belly up- AGAIN.

  14. At $6,000, this listing is priced $1,000 more than the current market rate for a 4 bedroom home

      1. But, you can putt anytime you want. That’s worth something, right? hahahaha!!!! Can’t make this crap up. It’s insane!

  16. More bad real economic news here to cheer stock market investors. Remember that bad news merely encourages stock HODLers to buy more.

    The Financial Times
    Emma Boyde 51 minutes ago
    Singapore cuts GDP forecast to as low as minus 7% on worsening outlook
    Mercedes Ruehl in Singapore

    Singapore is facing a much more severe recession than originally forecast after the Asian city state again cut its economic projections due to the coronavirus outbreak.

    The Ministry of Trade and Industry said in a statement on Tuesday that it expects 2020 gross domestic product to shrink between 4 and 7 per cent, compared with a previously projected range of a 1 to 4 per cent contraction.

    Singapore’s trade-reliant economy has been hurt by a prolonged shutdown since early April to contain the spread of the virus. The city state has some of the highest numbers of cases in Asia and government measures such as the closure of most workplaces have dampened domestic economic activity and consumption.

    “The outlook for the Singapore economy has weakened further since March,” the MTI said.
    The cut in GDP forecast comes as the government was set to unveil a fourth stimulus package in Parliament later on Tuesday, with more support for businesses and households.
    …

  17. ‘Unprecedented disruption’ to supply chain slams US port volumes
    in Port News 27/04/2020

    Not surprisingly the coronavirus pandemic delivered a heavy hit to U.S. port volumes in March. The unknown is how long the container drought will continue.

    Northwest Seaport Alliance (NWSA) Chief Executive Officer John Wolfe said during a press conference Wednesday he expects second-quarter volumes will be soft as the “unprecedented disruption” to the global supply chain continues and container shipping lines cancel more sailings.

    “Total container volumes in March were down approximately 21% as compared to March of 2019,” Wolfe said. “That brings our year-to-date first-quarter decline to 15.4%.”

    The NWSA, which operates the ports of Seattle and Tacoma, Washington, said it handled 264,133 twenty-foot equivalent units (TEUs) in March. Full imports in March declined 28.2%, while full exports decreased 8.6% year-over-year.

    Wolfe said container shipping lines canceled 32 sailings during the first quarter, including 19 in March alone.

    “As of today, we anticipate an additional 19 canceled sailings as we look out into quarter two. However, this is a very fluid situation and these numbers could change,” he said.

    The NWSA handled 788,882 TEUs between Jan. 1 and March 31, a 15.4% decline from the same period last year. Full imports and exports declined 19.3% and 4.9%, respectively.

    Wolfe said he expects second-quarter total volume also to be “soft.”

    “That’s driven by the situation in the United States with the closure of many businesses and the consumer market demand being down over last year as a result of the economy being shut down,” he said. “With the anticipation that we will slowly open up the economy in the second quarter of this year, which of course is uncertain, we expect the third and fourth quarters will be stronger quarters in terms of total volume.

    “So we’ll wait and see what happens in the second quarter. That is our best forecast: that the third and fourth quarter could be much stronger,” Wolfe continued. “We’re hopeful that 2021 will be a much more robust year for us in terms of total cargo volumes and job creation and economic activity through the gateway.”

    Other U.S. West Coast ports
    The Port of Los Angeles, North America’s busiest container port, reported a year-over-year March volume drop of 30.9%.

    The port said it moved 449,568 TEUs in March. That’s the lowest amount of monthly cargo moved through the port since February 2009.
    …

    1. “…year-over-year March volume drop of 30.9%.”

      Since the California quarantine measures only went into effect on the evening of March 19, just over 1/3 of the month was subject to the effects.

      By contrast, the full month of April was subject to COVID-19 quarantine measures. So we might anticipate an even bigger year-on-year drop in port volumes for April.

      1. “…year-over-year March volume drop of 30.9%.”

        Ha ha. Yep and Amazon’s gonna make trillions of dollars selling non-existence crap.

  18. Markets
    Add Howard Marks to the list of notable investors who believe the market comeback has gone too far
    Published Mon, May 18 2020 1:35 PM EDT
    Thomas Franck
    Key Points
    – Marks warns that the market rebound has gone too far given the uphill battle of developing a Covid-19 cure and its impact in the meanwhile.
    – Specifically, Marks reportedly believes that markets will eventually face turbulence again once the Fed’s unprecedented, but temporary support fades.
    – Of paramount concern to current market bears is how long it could take for corporate profits to return to growth.
    – Appaloosa Management founder David Tepper told CNBC on Wednesday that the current stock market is one of the most overpriced he’s ever seen, only behind 1999.
    …

    1. “…markets will eventually face turbulence again once the Fed’s unprecedented, but temporary support fades.”

      Why do so many investors assume the Fed’s Unlimited Quarantinive Easing is temporary? On what evidence?

        2. Seems they use their regular hospitals when needed.

          Trained medical professionals might make a difference.

  20. Does it seem like Mr Market has an extreme case of euphoria against the backdrop of a steady drumbeat of economic gloom on Main Street?

    1. Come on in…the water is fine!

      Some markets are hitting their highest levels since March. But huge risks remain
      By Julia Horowitz, CNN Business
      Updated 7:46 AM ET, Tue May 26, 2020
      Wall Street’s most photographed trader on beating Covid-19: It was a beast

      London (CNN Business)
      The end of the strictest phases of lockdowns in some countries is triggering euphoria in financial markets, with US futures rising sharply and Europe’s Stoxx 600 index hitting its highest level since early March.

      What’s happening: Japan said it would end its state of emergency on Monday, while UK Prime Minister Boris Johnson said the retail sector would be allowed to reopen starting in mid-June. The New York Stock Exchange is reopening to some traders on Tuesday, though they’ll be required to wear masks and practice social distancing.
      Investors are also taking solace in positive vaccine developments. US biotech company Novavax said Monday that it had started its Phase 1 trial of a vaccine and expected preliminary results in July.

      But major risks, of course, remain. “The rise in risk assets [is] despite consistent escalation of US-China tensions and a continuous drumbeat of negative economic data,” Deutsche Bank strategist Jim Reid told clients on Tuesday.
      …

  21. ‘The parking lots at Southern California sports venues like Dodgers Stadium and Angel Stadium are packed with rental cars, giving them the look of sellouts even without games being played, recent photos in the Los Angeles Times showed.’

    ‘But those cars won’t stay there. The companies are likely to sell off a significant portion of the estimated 1.5 million cars they have in their US fleets in the weeks and months to come, according to experts.’

    “They don’t need them. And they need the cash,” said Jeff Schuster, president of global forecasting for automotive research firm LMC.’

    https://myfox8.com/news/struggling-rental-car-companies-expected-to-sell-vehicles-at-deep-discounts/

    1. ‘In June, between 1,500 and 2,500 stores will shutdown. It represents between 9.3 and up to 18 percent of the 14,000 stores that operate inside shopping centers. They will close their doors permanently due to the landlords’ impossibility of reaching an agreement for the payment of rent, and because they have not received income for almost eight weeks that they remain closed, warned the Union of Retailers of Mexico (URM).’

      “We estimate that between 1,500 and 2,500 stores will be closed between June and July, which represents almost one million square meters that will remain vacant, plus those that will accumulate in the following months due to the expiration of leases of more stores that do not generate more than losses,” said URM.’

      https://www.theyucatantimes.com/2020/05/in-june-up-to-2500-stores-in-shopping-malls-will-close-definitively/

    1. Very good article. One thing not mentioned is that when these flippers and speculators swooped in following the 2008 crash they effectively shut out many ordinary people who were trying to buy a home (with a mortgage) for the right reason, TO LIVE IN IT. I experienced this personally in Calif. in 2011/2012, it was virtually impossible to compete with 100% cash buyers as sellers will nearly always go with a cash bid…so I remain a renter but fortunately have a decent place that is affordable.

    1. Orange man bad, he caused the virus, and he doesn’t wear a mask.

      Cracked me up how Biden and his Wife came out yesterday wearing their political correct masks.

      While it’s hard to understand Bidens senile ramblings without a mask, imagine with a mask.

      2. Can’t wait for the debates, with the unmasked Trump taking on the masked Biden.

        Free entertainment at its best!

      3. Maybe they will apply duct tape to Biden’s mouth under his mask & install a speaker there to have some of the “best and brightest” speak instead Demento Joe – with no one the wiser.

      1. “By his own admission, Rick Bright, who is not a physician, knowingly and unilaterally countermanded Secretary of Health and Human Services Alex Azar, Admiral Giroir in charge of Public Health Service and the President of the United States, who had directed BARDA to establish a Nationwide Expanded Access Investigational New Drug (“IND”) protocol for chloroquine, which would provide significantly greater outpatient access for the drug than would an Emergency Use Authorization (EUA). Unlike an EUA, a Nationwide Expanded Access IND protocol would make the drug available for the treatment of COVID-19 outside a hospital setting at physicians’ medical discretion based on patients’ needs.”

        FWIW, he’s the HHS “whistleblower” that testified before Congress earlier this month. I wonder if he has a GoFundMe (AKA slush fund) account yet.

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