As Much As It’s A Seller’s Market, Buyers Are Directing The Show
A report from the Seattle Times in Washington. “Stay-at-home orders kept many potential homebuyers and sellers out of the market in April, sending prices in King County tumbling in May for the second month in a row. In King County, median prices fell 4% year-over-year, to $672,000, according to new data from the Northwest Multiple Listing Service. County prices also dropped 6% from April to May, the first time since 2014 that homes in the county have fallen in value between two months that typically bring a spring frenzy of homebuying.”
“In Pierce County, median prices were up 7.2% compared to 2019, to $396,550. Snohomish county shoppers saw prices rise 3.2% from 2019, to $516,000. Kitsap, Whatcom and Thurston counties also saw price increases compared to 2019. In all those counties, though, prices have fallen for two months straight on a month-to-month basis. Brokers say that’s a sign some inventory was overpriced before the pandemic.”
“‘Before the pandemic, we had one million, two million-dollar homes on the Eastside,’ said Dean Rebhuhn, the owner of Village Homes and Properties in Woodinville. ‘They languished and they had to adjust.'”
From 5280 in Colorado. “The metro area saw 7,312 new listings in May, up 56 percent from April but still down nearly 17 percent compared to last May, according to the Denver Metro Association of Realtors. Homes sold in May declined nearly 20 percent from April. The metro is still a seller’s market, even though the average price of a home sold in May dipped slightly below $500,000. ‘For as much as it’s a seller’s market, buyers are directing the show,’ says Nicole Rueth, a DMAR Market Trends Committee member. Buyers are asking more questions and often visiting a home multiple times before putting in an offer–something not commonly seen in the last few years.”
“The luxury market, though, is softening and shifting to a buyer’s market, especially when it comes to condos, says Jill Schafer, chair of DMAR’s Market Trends Committee. There’s a ‘significant amount’ of high-end condos for sale but jumbo loans were hard to come by during the stay-at-home order.”
The Pittsburgh Post Gazette in Pennsylvania. “Georgie Smigel, a Coldwell Banker real estate agent who works out of Cranberry, said her team closed 29 sales in the month of May in communities that include Cranberry, Mars, Lawrenceville and communities throughout the North Hills. ‘Depending on the price and condition, if it’s a great home we continue to get multiple offers,’ she said. ‘But I will say if a house is overpriced it will sit. Pittsburgh buyers are pretty savvy about values.'”
“Kim Marie Angiulli, a Coldwell Banker real estate agent who sells higher-end properties, acknowledges the market is not as robust for homes in the higher price ranges because the pool of buyers is smaller. ‘For homes in the $650k to $850k range, that market is a little sluggish,’ Ms. Angiulli said.”
From AM New York. “According to RealtyHop, several New York City neighborhoods saw listings with price drops, but the top five were all in Manhattan. The neighborhood with the highest number of price drops in May was Lincoln Square with 47 total drops. Outside of Manhattan, Brooklyn’s Bushwick North area had the highest median percentage price drop with a median drop of 20.9%. Following behind in second is the Bronx’s Van Cortlandt Village with a median percentage price drop of 16.7%.”
From Bloomberg on New York. “The condo on the 88th floor, with postcard views of Central Park, sold on May 29, according to city records. The seller paid US$47.4 million for the unit when it was completed in 2014. The city records indicate the buyer and seller are related. That suggests the resale, a 41 per cent discount to the original price, is not necessarily indicative of the unit’s true market value.”
“The seller was not a third party, according to person familiar with the matter. The recorded sales price would mark the biggest discount to date at the 1,004-foot (306-metre) skyscraper, once the icon of Manhattan’s ultra-luxury condo boom, according to Jonathan Miller, president of appraiser Miller Samuel Inc.”
“Extell Development broke ground on One57 in 2009. With little competition, it quickly drew global investors who payed large sums for homes they rarely lived in. Now, buyers at One57 have increasingly been trading their homes at a loss as new projects proliferate in Manhattan and create a glut of high-end choices amid slackening demand. In 2017, resales at the tower averaged 25 per cent less than their 2014 purchase prices, according to Miller Samuel Inc data.”
From Livable on California. “According to Realtor.com’s May 2020 Monthly Housing Market Trends Report, new home listings in the Los Angeles-Long Beach-Anaheim, CA metropolitan area fell 30.3 percent over the same month last year. The active listing count, which represents the total number of listings on the market whether they’re new or stale, declined by 17.3 percent. The typical home spent 67 days on the market, which is significantly higher than the May 2019 median of 25 days.”
“Naomi Klein, the Estate Director for Compass Los Angeles’ Sports Division notes that in real estate, there is a system of checks and balances to determine the true value of a home. Inspections and appraisals help to ensure that a buyer isn’t overpaying. Klein’s client put forth an offer that was $5,000 above the list price, which was accepted by the seller. And in the end, the house appraised for a whopping $192,000 over the selling price — something Klein says rarely ever happens.”
“Keeping a level head and having trust in your homebuying team is essential when engaging in a bidding war, as emotions can quickly get the best of you. ‘Never negotiate against yourself, never negotiate against your fears,’ said Klein. ‘If the appraisal comes back under [your offer price], at that point you should decide if you still want the house. Just don’t psyche yourself out!'”
The Los Angeles Times in California. “The price keeps plummeting for Craig Ferguson’s Craftsman compound in Hollywood Hills, as the comedian and TV host has lowered the asking price to $4.199 million. It’s his fourth price cut since listing the place for $6 million early last year. Ferguson could still turn a profit on the property; records show he picked it up for $4.1 million in 2012.”
Comments are closed.
‘Klein’s client put forth an offer that was $5,000 above the list price, which was accepted by the seller. And in the end, the house appraised for a whopping $192,000 over the selling price’
Don’t screw up the comps!
‘the average price of a home sold in May dipped slightly below $500,000. ‘For as much as it’s a seller’s market, buyers are directing the show’
They just can’t bring themselves to admit it’s sinking like a turd in a well.
“Checks and balances”, LOL. They’re all pulling upward together.
“They just can’t bring themselves to admit it’s sinking like a turd in a well.”
The poor donks. The poor poor donks.
‘For as much as it’s a seller’s market, buyers are directing the show,’
Realtors are liars.
‘it quickly drew global investors who payed large sums for homes they rarely lived in’
Here’s where we have a teachable moment about manias. ‘Large sums for homes they rarely lived in’. Why would anyone do that? They expected to sell it for a huge profit! They were speculating. But at the time, the media was aglow with new paradigm stuff like “safe deposit boxes in the sky”, which was actually happening all over the world. New paradigm crazy talk is a sign of a bubble.
‘Now, buyers at One57 have increasingly been trading their homes at a loss as new projects proliferate in Manhattan and create a glut of high-end choices amid slackening demand. In 2017, resales at the tower averaged 25 per cent less than their 2014 purchase prices’
In the spring of 2017, I found two reports in one week showing a near 50% loss on new condo flips in NYC and Miami. That’s how long ago these bubbles popped.
‘The price keeps plummeting for Craig Ferguson’s Craftsman compound in Hollywood Hills’
OK, just don’t say crater, it’s triggers the snowflakes.
‘has lowered the asking price to $4.199 million. It’s his fourth price cut since listing the place for $6 million early last year. Ferguson could still turn a profit on the property; records show he picked it up for $4.1 million in 2012’
Just a tad off the 2012 price and it hasn’t sold. That’s a lot of bubble years gone poof!
Ferguson could still turn a profit on the property; records show he picked it up for $4.1 million in 2012.”
What profit? After the realtor’s taken their 225K and other expenses he’ll be in the $3’s so will have to write a check to get out.
What I’d like to know is why are so many Hollywood types, who are employed, dumping their California shacks?
Are they trying to unload them before they crater (too late for that)?
Do they need the cash?
Have they decided that they own too many shacks?
Are they trading up to a “better” shack?
Are the trading down (again why)?
Or are they trying to divest from Clowninfornia before the next wave of rioters ransacks their home. Of course that brings up the question: where would they go? Salt Lake City, Colorado Springs, Boise, Bozeman, the Dakotas? Because it won’t be any better in New York, Chicago, etc.
I think most of them are buying another one, or have already bought, in LA. They’re not moving, they just want a different shack.
If we’ve learned anything on this blog, it’s that the Hollywood types are the dumbest house buyers that exist. Most seem to take million dollar+ baths on each house.
but if you are getting $20 mill a movie and you take a Million loss you can write it off so they dont actually lose much if it all.
I’ve read that after a divorce moving into a fresh new place feels great.
“he picked it up for $4.1 million in 2012”
…and then dumped another $2.7 million in it according to county building records.
Nothing like throwing good money after bad on a rapidly depreciating asset like a house.
Housing prices are cratering.
I’m debating about whether that $2.7 million was well spent. Don’t get me wrong; the house is beautiful. I’m no fan of California, but that looks like an amazing house to live in and party in. Guest houses, pools, tasteful decor, and of course its Craftsman lineage (1904). But what did he spend the $2.7M on? It must have been a real dump when he bought it and needed the preservation.
It’s just another donkey stable.
“2012… That’s a lot of bubble years gone poof!”
I posted a link late yesterday to an LA condo that sold in January for -25% less than its 2005 price. Before covid. That’s even more bubble gone poof! Still too expensive, btw.
I’m going to shoot for a CRE post (including apartment and STR crater) and a international crater later today. Way too much coming in to put off.
This is a subscription site:
Housing markets on Kauai, Big Isle slide more in May
https://www.staradvertiser.com/2020/06/06/hawaii-news/housing-markets-on-kauai-big-isle-slide-more-in-may/
The plot thickens. Interesting admission by the Floyd family attorney: https://youtu.be/NgWnwM36hng?t=212
We’re already at the Al Sharpton phase:
ter·mi·nus
/ˈtərmənəs/
noun: terminus; plural noun: termini; plural noun: terminuses
1. a final point in space or time; an end or extremity.
Nuance is lost in our society (among other things). Too much of the populace falls for the false dichotomies and rushes to conclusions or judgments without enough facts or evidence to support them.
I would have prefaced your post with the introductory term BREAKING NEWS!
As in:
BREAKING NEWS! Too much of the populace falls for the false dichotomies and rushes to conclusions or judgments without enough facts or evidence to support them.
Teargas/peppergas, Dead/NotDead… whats the difference? The important thing is, our team is under attack!
whats the difference
Exhibit A
Who and by whom? Anyone watching MSM and believing
The Narrative would have a very different answer from Boo, ex-401 and me.
Charging him with 1st degree improves his chances of acquittal, meaning even more riots, which I think is the end goal.
meaning even more riots, which I think is the end goal
Agreed. Just look at the Minnesota AG and his son. IMO, the current premeditation argument is ridiculous. I wouldn’t be surprised, however, if a better premeditation argument is made before or in trial. I suspect there’s a lot to this case the public doesn’t know.
I’m having a hard time imagining a juror remaining impartial at the trial, regardless of the charges, knowing full well that acquittal would lead to further mass destruction of America’s cities by those who have already convicted the accused in their own minds, without even seeing the evidence.
without even seeing the evidence.
Nearly impossible to fix a problem without accurately identifying the cause.
More detail of the situation in the Statement of Probable Cause at pages 2-3.
https://www.documentcloud.org/documents/6933246-Derek-Chauvin-Complaint.html
“While standing outside the car, Mr. Floyd began saying and repeating that he could not breathe.”
and
Three of them couldn’t get him settled in the patrol car. Afraid of excited delirium… Fills in some of the blanks.
Filed in court a week ago. Why didn’t the media bring up any of this?
Why didn’t the media bring up any of this?
It doesn’t fit the The Narrative they’re trying to spin.
For anyone thinking Fox News is any different than the rest of the MSM, Jeanine Pirro is contradicting the Statement of Probable Cause right now. She’s saying he didn’t resist and is peddling premeditation over 9 minutes.
premeditation
n. planning, plotting or deliberating before doing something. Premeditation is an element in first degree murder and shows intent to commit that crime. (See: malice aforethought, murder, first degree murder)
(emphasis added)
Courage, lack thereof. Cowardice. Ultimate harm to another considered an acceptable strategy to avoid any risk of harm to self.
Is cowardice a motive?
It became personal my first thought …..
Usually when a hit is done it isn’t in broad daylight with witnesses and cameras rolling.
No kidding. It’s hard to imagine a premeditated homicide going down that way.
But, think about it ,if George Floyd’ was complaining about breathing problems while he was standing up, than that is weird the cop applied knee pressure on the ground.
I always thought if a person in custody needed medical attention you have to respond to that need.
Now I don’t know if the cops didn’t believe him or what, but he said he couldn’t breathe on the ground also.
I don’t know if the cop snapped or what.
Now I don’t know if the cops didn’t believe him
IIRC, the forensic pathologist in aNYCdj’s link explains this.
Vancouver, WA Housing Prices Crater 19% YOY As Portland And Seattle Housing Glut Drives Prices And Rents Lower
https://www.zillow.com/vancouver-wa-98684/home-values/
A noted economist stated, “A housing ‘recovery’ is falling prices to dramatically lower and more affordable levels by definition.”
Prices cratered 19%
The cratering is just beginning.
Do you think they will drop by over 50% before this is over?
Movoto says listing prices in Vancouver WA are up 2% YOY and 1% MOM.
Zillow forecasts this shanty to go over 200k:
$44,000
3 bd 2 ba 1,677 sqft
1020 Broadway Blvd NE, Albuquerque, NM 87102
https://www.zillow.com/homedetails/1020-Broadway-Blvd-NE-Albuquerque-NM-87102/6720401_zpid/
44k is the opening bid. It’s REO.
Ex lived in that area. The 200K estimate may reflect comps from the much nicer neighborhood directly west or perhaps the lot’s commercial potential.
what was next door with all that corner parking? looks like an after hours juke joint
Prices cratered 19%
The cratering is just beginning.
From voice of reason to emasculated cuck in a few days. That was quick!
https://sports.yahoo.com/drew-brees-answers-president-trump-023523594.html
Drew Gump
Kneel Drew! Kneel!
I read an article last night, I’ll have to look for it, where the kneeling is supposedly coming back with a vengeance next season. The NFL fan base will be disappearing in large droves, as will player salaries as a result. They JUST.DON’T.GET.IT.
I don’t think anyone objects to the kneeling. It’s the kneeling on-camera that has fans pizzed. Why can’t these folks go kneel and protest on a Monday (their day off) or during the off-season? Or create their own YouTube channel? Oh that’s right, they want that widespread TV platform.
Imagine if you went to see a Tim Robbins movie in a theatre and Tim and Susan spouted their politics over the opening credits. No wonder Oscar ratings have plummeted.
politics over the opening credits
The objection is the protesting of the National Anthem.
“I don’t think anyone objects to the kneeling.”
If you do you are a racist.
OBEY
Take a knee! Take a knee! Take a knee!
Protesters Cheer As Boston Police Kneel Outside Heaquarters
https://youtu.be/O2rkoNpibDs
Watch: Police Kneel With Protesters in Portland
https://youtu.be/VOiNLe80fJg
North Carolina police officers kneel with protesters
https://youtu.be/t7WqQnhwRs0
As wrong as the cops were that started all of this these guys know you can’t let the inmates run the asylum.
DC police officer dragged to his feet by colleagues after kneeling with protesters
By Justin SedgwickPublished 4 days ago
https://www.ktvu.com/news/dc-police-officer-dragged-to-his-feet-by-colleagues-after-kneeling-with-protesters
Drool, Neil, drool!
After clicking through the pictures this pops up…
“Interested in touring this home?”
Sure, just let me grab my bullet proof vest first.
This was for Ben’s “Zillow forecasts this shanty to go over 200k:” post.
I think the Peaceful Protests and burning looted cities are getting to me.
Knock knock
Who is it?
Dan.
Dan’s not here!
Open up the door I think the cops saw me.
Love the exposed conduit.
Seattle, WA Housing Prices Crater 13% YOY As Demand Plummets On Skyrocketing Inventory And Plunging Rental Rates
https://www.zillow.com/seattle-wa-98102/home-values/
*select price from dropdown menu on first chart
As one Seattle broker conceded, “The fact is we have so many vacant houses in Seattle it is no surprise prices are plummeting.”
Neil Ferguson’s Coronavirus Imperial College Model — ‘Professor Lockdown’ Resigns in Disgrace | National Review
https://www.nationalreview.com/corner/professor-lockdown-modeler-resigns-in-disgrace/
Neil Ferguson is the British academic who created the infamous Imperial College model that warned Boris Johnson that, without an immediate lockdown, the coronavirus would cause 500,000 deaths and swamp the National Health Service.
Johnson’s government promptly abandoned its Sweden-like “social distancing” approach, and Ferguson’s model also influenced the U.S. to make lockdown moves with its shocking prediction of over two million Americans dead.
Johan Giesecke, the former chief scientist for the European Center for Disease Control and Prevention, has called Ferguson’s model “the most influential scientific paper” in memory. He also says it was, sadly, “one of the most wrong.”
With all of his influence, it’s not surprising British media are making a great deal about Ferguson being forced to resign from the government’s virus advisory board yesterday after revelations he had violated lockdown rules he had championed in order to conduct an affair with a married woman. Ferguson admits he made an “error of judgement and took the wrong course of action.”
Ferguson’s hypocritical violation of his beloved lockdown was the least of his errors in judgment. His incompetence and insistence on doomsday models is far worse.
Elon Musk calls Ferguson an “utter tool” who does “absurdly fake science.” Jay Schnitzer, an expert in vascular biology and a former scientific direct of the Sidney Kimmel Cancer Center in San Diego, tells me: “I’m normally reluctant to say this about a scientist, but he dances on the edge of being a publicity-seeking charlatan.”
Indeed, Ferguson’s Imperial College model has been proven wildly inaccurate. To cite just one example, it saw Sweden paying a huge price for no lockdown, with 40,000 COVID deaths by May 1, and 100,000 by June. Sweden now has 2,854 deaths and peaked two weeks ago. As Fraser Nelson, editor of Britain’s Spectator, notes: “Imperial College’s model is wrong by an order of magnitude.”
Indeed, Ferguson has been wrong so often that some of his fellow modelers call him “The Master of Disaster.”
Ferguson was behind the disputed research that sparked the mass culling of eleven million sheep and cattle during the 2001 outbreak of foot-and-mouth disease. Charlotte Reid, a farmer’s neighbor, recalls: “I remember that appalling time. Sheep were left starving in fields near us. Then came the open air slaughter. The poor animals were panic stricken. It was one of the worst things I’ve witnessed. And all based on a model — if’s but’s and maybe’s.”
In 2002, Ferguson predicted that, by 2080, up to 150,000 people could die from exposure to BSE (mad cow disease) in beef. In the U.K., there were only 177 deaths from BSE.
In 2005, Ferguson predicted that up to 150 million people could be killed from bird flu. In the end, only 282 people died worldwide from the disease between 2003 and 2009.
In 2009, a government estimate, based on Ferguson’s advice, said a “reasonable worst-case scenario” was that the swine flu would lead to 65,000 British deaths. In the end, swine flu killed 457 people in the U.K.
Last March, Ferguson admitted that his Imperial College model of the COVID-19 disease was based on undocumented, 13-year-old computer code that was intended to be used for a feared influenza pandemic, rather than a coronavirus. Ferguson declined to release his original code so other scientists could check his results. He only released a heavily revised set of code last week, after a six-week delay.
111
So the real scandal is: Why did anyone ever listen to this guy?
Because we laid off the epidemiologists we had a year ago, and this guy was in the phone book?
Good point. The gubmint must be outsourcing its epidemiological modeling to the private sector?
And what’s that other doomsday modeling bullshit we’ve been getting shoved in our faces every day for the past couple of decades?
Because he made the story on the numbers that someone wanted or liked. There was money to be made.
I wonder if he’s been responsible for any of the climate change doomsday models that are being used to drive policy.
Hello DGM 🤣🤣🤣
“In Pierce County, median prices were up 7.2% compared to 2019, to $396,550.”
This is the “drive until you qualify” bump. It’s amazing to me that Pierce is still rising over 2 years after Seattle showed signs of weakness. It’s the credit orgy. Got to stop that credit orgy.
I’m looking at houses in Missoula, MT. Properties are going pending almost the second they’re listed. Same with land in the Bitterroot Valley which is the area south of Missoula. During the pandemic things slowed down a little but not much. Now that everything is open again it’s right back to re Covid crazy times.
CREDIT ORGY.
It sure can’t be the locals buying the shacks.
Kenmore, WA Housing Prices Crater 11% YOY As Amazon And Microsoft Layoffs Grip Seattle Area
https://www.movoto.com/kenmore-wa/market-trends/
As a national broker put it, “You can sell today for less or sell later for much less because housing prices are cratering.”
I posted a link to this old painting some years ago but it is great stuff and worth another look, here is a description…
“English: Monkeys in contemporary 17th century Dutch dress are shown dealing in tulips. A satirical commentary on speculators during the time of “Tulip Mania”, an economic bubble that centered around rare tulip bulbs. At left, one monkey points to flowering tulips while another holds up a tulip and a moneybag. Bulbs are weighed, money is counted, a lavish business dinner is enjoyed. The monkey at left has a list of rare tulips, his sword denotes upper class status. Farther back, a monkey sits like a nobleman astride a horse. One in mid-foreground draws up a bill of sale; the owl on his shoulder symbolizes foolishness and ignobility. Brueghel is not only ridiculing tulip speculators as brainless monkeys, the work is an object lesson for the folly of speculating to such an extent in such a transient thing as a mere bloom. In the denouement at right, a monkey urinates on the now worthless tulips; fellow speculators in debt are brought before the magistrate or weep in the dock. A frustrated buyer brandishes his fists, while at the back right a speculator is carried to his grave.”
https://commons.wikimedia.org/wiki/File:Jan_Brueghel_the_Younger,_Satire_on_Tulip_Mania,_c._1640.jpg#globalusage
I wonder how hard it would be to photoshop Federal Reserve Board members’ faces in place of the monkeys’ faces?
Does it seem like the Fed has once again blown a dangerous stock market bubble, by using easy money policy to encourage reckless speculation?
Relief Rally? Bear Market Bubble? Examining a Fed-Fueled Boom Amid Chaos
Posted by Shaun Cox | Jun 2, 2020 | Markets
Unless you’ve been under a rock, in a coma or living in a remote location entirely detached from news the past few months, you’re well aware of the coronavirus pandemic and ensuing lockdown that led to the fastest stock market crash in history.
When the closing bell rang on Wall Street to end the day’s trading on Feb. 19, the benchmark S&P 500 sat at a new all-time record high of 3,393 (the Nasdaq also closed at an all-time record that day).
Then, just 22 days later, 30% had been wiped off the books, the quickest such stock market crash in history. The second-, third- and fourth-fastest declines came amid the infamous Great Depression that began in 1929 and lasted well into the 1930s.
All told, the S&P 500, still down about 5% on the year, bottomed — unless there’s another bottom, known as a W-shaped recovery — at 2,237 on March 23. And here we are at the beginning of June, back above 3,000, a 37% rebound.
And the stock market’s upward movement the past week comes against the backdrop of major social unrest, mass protests and even some looting sweeping across the country after another unarmed African-American man was killed in police custody. The man’s death was videotaped by bystanders and broadcast for the entire world to see.
The ensuing protests have so far led to more than 4,500 arrests, and a protest Monday evening outside the White House was broken up with tear gas and rubber bullets.
And yet the stock market has largely continued its upward movement.
Stock Market Rally a Fed-Fueled Boom
So exactly what exactly is going on? How is this possible? Is it sustainable, or are we on the precipice of falling into a double-bottom (where the W comes in from a W-shaped recovery)?
Banyan Hill Publishing Chartered Financial Analyst and Chartered Market Technician Clint Lee, an expert in investment psychology, said one thing that stands out to him about the current rally is fund flows into big tech and health care stocks. In fact, Lee said, the traditional buy-and-hold philosophy that has served investors well through the years appears “dead.”
…
Why is excessive leverage a concern, so long as the Fed stands ready to support it at whatever level necessary?
Economics
Guggenheim’s Minerd Says Fed Faces Reckoning for Market Support
By Lananh Nguyen
and Michael McDonald
June 3, 2020, 11:27 AM PDT
— Says moral hazard will increase, create excessive leverage
— Investors weigh how far Fed will go, BlackRock executive says
Guggenheim’s Minerd Says Fed Will Face ‘Day of Reckoning’ Over Asset Purchases
Scott Minerd, chief investment officer at Guggenheim Investments, discusses the impact of the Federal Reserve’s efforts to stabilize the U.S. economy.
The Federal Reserve’s efforts to stabilize the economy may encourage companies to take on too much risk, inflating a corporate-bond bubble, according to Scott Minerd, chief investment officer at Guggenheim Investments.
“It’s going to allow the excessive leverage — which had already been building up into the system coming into this — to continue, and to levels that are completely unprecedented in our history,” Minerd said at a virtual insurance conference Wednesday. That increases the risk a bubble in corporate bond markets “will just be extended and become more extreme.”
…
Fundamentals don’t matter when the Fed is buying.
Brett Arends’s ROI
Opinion: ‘You should be nervous!’—legendary money manager slashes stock market exposure from 55% to 25%
Published: June 6, 2020 at 3:00 p.m. ET
By Brett Arends
Stocks are expensive and the economy is terrible
…
“Mass unemployment, major corporate bankruptcies, a prolonged economic slump, civil unrest, a quest for a vaccine…”
So, five challenges; is there anything serious?
“But most viruses have never had a useful vaccine and most useful vaccines have taken well over five years to develop and when developed have been only partially successful.”
How about a placebo before the election?
“…the Fed has once again…”
When did they stop? They’ve been doing it for 20+ years.
Pretty much since the year I first entered the fulltime adult workforce, 1987, when the Greenspan Put was born. This maneuver served to legitimize the Fed’s role of intervening in the stock market if stock prices were deemed “too low.”
Ok i booked her on a radio years ago…liberal but very respected…tell me what you think…. Forensic Pathologist Breaks Down George Floyd’s Death— An outside perspective on viral videos, autopsy findings, and the medical examiner’s role https://www.medpagetoday.com/blogs/working-stiff/86913
Interesting read. Important correction of misinformation.
Thanks i meant radio show for the host i was working for. Also did Floyd have any obvious IV drug use track marks or was the fentanyl just inhaled????
https://www.hennepin.us/-/media/hennepinus/residents/public-safety/documents/Autopsy_2020-3700_Floyd.pdf
I’m not familiar with all the medical lingo so perhaps tresho can answer your question.
I found the Comments on page 3 interesting:
Sickle cell anemia is an inherited red blood cell disorder in which there aren’t enough healthy red blood cells to carry oxygen throughout your body.
The toxicology report also shows the presence of cannabinoids in addition to fentanyl and amphetamines.
I just want to make a point.
The US Constitution and Bill of Rights were great Concepts.
Apparently it’s taken a whole history for these rights to apply to everybody. Women didn’t even get the right to vote until 1919.
So, this whole US History were people had to fight to be included in the Rights took place. It’s unfortunate that it played out like that.
But the rights apply to everybody as it stands now.
Ok, if any police officers are in violation they should be brought to justice or trial.
But I see a lot of unequal justice taking place in a lot of realms. Even the Court system favors the Rich.
I would like to see the money taken out of Politics for instance, as well as term limits.