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The Inventory Was Never Flushed Out From The 2008 Recession

A report from Seattle PI in Washington. “The median home price for closed sales in King County dropped month over month, from $650,000 to $627,000. ‘I don’t think anyone should be surprised that home prices in King County took a ‘breather’ in May,’ said Matthew Gardner, chief economist at Windermere Real Estate. ‘Clearly COVID-19 was the cause for this drop, but I’m confident this is a temporary situation that will be reversed as King County starts to reopen, and fresher inventory comes to market.'”

The Gainesville Sun in Florida. “Gainesville area agents say low mortgage rates help buyers and bargains exist, especially at upper end. Betsy Pepine, owner of Pepine Realty, said there is an oversupply of luxury resale homes priced at $500,000 and above. ‘There are many great buys in this category of homes in our area as the inventory was never flushed out from the 2008 recession,’ she said.”

From Community Impact in Texas. “Data provided by Houston Association of Realtors’ Multiple Listing Service showed a 24.6% decrease in average days on the market in May compared to the previous year across the six ZIP codes that make up the Greater Tomball and Magnolia area. ‘We have a lot of homeowners that are employed in the oil industry, and if they’re not put back to work, they aren’t going to be able to afford their $400[,000]-$600,000 homes,’ said broker Renee Leslie-Buckhoff.”

“Ray Wade, a broker and the owner of Legacy Texas Properties, said affordable houses have been selling, but higher-priced homes tend to have a longer time on the market. ‘If you are looking at $1 million houses, it is more of a buyers’ market,’ he said. ‘There is definitely more on the market than there are buyers.'”

The Chatham News Record in North Carolina. “Real estate professionals from across Chatham will tell you that the local market isn’t unaffected by the novel coronavirus. ‘I feel right now in the $350,000 to $450,000 range, it is still a sellers’ market because that’s a golden price point,’ said Lisa Skumpija of Absolute Realty Company in Pittsboro. ‘Anything above $450,000 seems to be a buyers’ market. Prior to the virus the golden price point seemed to be up to $550,000, but I’ve seen that come down in the last few months.'”

The Press Democrat in California. “More than $1 billion in planned development along the passenger rail line in Sonoma County stands to be delayed as a result of the economic recession brought by the coronavirus pandemic. Securing construction loans is bound to be tough under the current economic headwinds. San Francisco-based Laulima Development paid $13.5 million for the land in late 2017 and has put the project on hold before, most recently over last summer, a delay that Laulima representatives linked to high local construction costs and financing challenges. To the north, Windsor’s plans to develop a new, $280 million civic center, hotel and housing project around the Town Green also have hit the skids.”

“The 300-unit Mill Creek project, south of Windsor River Road, also has stalled. ‘The intention is obviously to build these things,’ said Peter Stanley, principal with planning and architecture firm ArchiLOGIX. ‘It’s very expensive to get to the point at which they are. There’s no value if you’re not going to build them.'”

From 6 Sq Ft in New York. “Not only is One Manhattan Square one of the last residential buildings in New York City able to entice buyers with a 421-a tax abatement, but the Lower East Side high-rise is also currently offering major discounts on its luxury apartments. In response to the coronavirus pandemic, Extell Development announced last month discounts of up to 20 percent on all remaining units at the 800-foot-tall condominium.”

“‘While we have adapted to selling our residences through a virtual sales experience, we recognize that it is also important to incentivize our buyers with this program,’ said Gary Barnett, founder of Extell.”

The Real Deal on New York. “It has been a while since it was this hard for landlords to fill an apartment in New York City. Manhattan’s vacancy rate hit a new high in the 14-year history of a monthly rental report as new leasing activity in the borough was down 62 percent last month from a year ago. It was also 54 percent lower in Brooklyn and 61 percent lower in Queens. Though large, the year-over-year declines were not as bad as in April, which Jonathan Miller, author of the Douglas Elliman report, attributes to parties beginning to adjust to the new normal of the pandemic.”

“Miller, an appraiser, said, ‘As people lose their jobs or move out of the city to suburbs, it’s harder to fill that apartment.'”

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This Post Has 114 Comments

  1. ‘I don’t think anyone should be surprised that home prices in King County took a ‘breather’ in May’

    Why wouldn’t they be surprised Matt, you guys have been saying the opposite.

    ‘Clearly COVID-19 was the cause for this drop’

    Then why have shack prices in Seattle been sinking like a turd in a well for over a year?

    1. LOL@ imagine owning a house or a business inside the Capital Hill Autonomous Zone and paying property taxes to a city that won’t respect the rule of law.

      This country is OVER.

      1. ‘The economy appears to be in a recession, and Seattle home prices are lagging. Windermere Chief Economist Matthew Gardner joined Seattle’s Morning News to discuss the latest local housing snapshot, and how current events may be impacting the housing market. With the unfortunate looting that went on in some places downtown, does that at all have a significant economic effect, or given the depth of this recession, is that just small potatoes?’

        “You’ve got to be very careful when you parse certainly this particular topic, but if I literally put my economic blinkers on for a moment on and look at it purely from a mathematical standpoint … shorter term, obviously, a lot of retailers have been hurting for the last couple of months … If they have gone through a situation where they have been looted or have had their buildings hit, that’s just another financial hit to them, and obviously because of that to the economy as well,” he said.’

        ‘What is the potential coronavirus risk of mass protests? “It is too early to say yet, but if we do believe a lot of people are going to continue to work from home, then we can actually see a flight potentially out of our downtown area. We know a lot of restaurants and bars aren’t gonna make it back. Maybe some of the retail won’t. So are we going to see a change in the vitality of our downtown core?”’

        https://mynorthwest.com/1935674/coronavirus-looting-economy-housing/?

        This is funny. So, Mr Chinstroker, what are the cap rates in light of the looting?

        1. I’d like to know how the insurance claims are doing.

          Insurance WILL pay for the damage, right?

          1. Civil strife is usually NOT included in most life and property policies, but is available. For example, a typical life policy and a police officer’s policy are very different, and property policies have high deductibles for the ground floor windows, which now must be plexiglass in most communities.

      2. So – the woke upper middle class folks dont care

        They will support the protests on Capitol Hill – it makes them seem super woke

        They live in Queen Ann, Magnolia, Ravenna etc., and know that the protests will never get to them. The protestors are too lazy to climb up Queen Ann Av.

        It is this really weird thing – where these hot moms in yoga pants and $1200 strollers – pontificate about social justice in upper middle class neighbourhoods – and then go to trendy coffee shops and chew down a MJ chewable with their coffee. [true story btw]

        1. They live in Queen Ann, Magnolia, Ravenna etc., and know that the protests will never get to them. The protestors are too lazy to climb up Queen Ann Av.

          Hah! I could easily see angry mobs making their way there.

          2. But … but we’re on your side! Please don’t torch the Tesla or the house!

            Would taping “BLACK OWNED” signs on them help?

          3. Sure seems like a lot of my posts get tagged with “your comment is awaiting moderation” these days. The ones with hyperlinks always did. I’m not sure what is tripping the switch in some of my recent posts.

          4. I’m not sure what is tripping the switch

            Let’s enjoy this place of thoughtful conversation about the the biggest bubble in history, and some other issues of interest, with virtually no anklebiting.

          5. I think almost all posts were always in moderation for this blog, even before the move. I remember years ago Ben telling us that he spent a lot of time in his truck clicking “allow allow allow” for our posts. I believe that the software is just telling us about it now. Nothing new, no biggie.

      3. This country is OVER.

        But I can’t figure out where else I can realistically go.

        1. I have to confess I feel lucky to be “stuck” in San Diego County between La Jolla and Poway. We’ve seen no non-socially-distanced protesters here, the neighbors in our stable multicultural community
          seem friendly and normal, and the San Diego city government appears to stand behind their police department and the rule of law.

          1. Similar here in my little burg, except for the multicultural thing. Per wikipedia:

            The racial makeup of the city was 92.85% White, 0.37% Black, 0.69% Native American, 0.83% Asian, 0.03% Pacific Islander, 3.21% from other races, and 2.02% from two or more races. Hispanic or Latino of any race were 8.57% of the population.

        2. No — not even close — all that’s happening is that a new set of people are demanding their place at the table. Its up to the people who already have a place how this happens — the easy way or the hard way.

          1. Oh please. The ones who are competent get to go to the front of the line thanks to Affirmative Action. And millions of whites have had their jobs offshored and have fallen into poverty. What about their “place at the table?”

          2. Affirmative Action

            We have a whole generation who don’t actually know what this is, what we did to improve people’s chances and what actually changed since the 1970s. So they’re easily convinced that things are as bad as they ever were, convinced by people who actually know better.

            I guess “the hard way” is a threat of violence. I’m in a minority. My view is that assimilation is a better strategy than violence.

          3. No — not even close — all that’s happening is that a new set of people are demanding their place at the table.

            Pffft. We’ve already elected a black president. And it was whites who put him in power. What we have now is a bunch of people looking for freebies, reparations, etc.

          4. What we have now is a bunch of people looking for freebies, reparations, etc.

            A “place at the table” also means you contribute. But this about more gib me dats.

      4. This country is OVER.

        I’m just reminding everybody I know and talk to to make sure they have plenty of weapons and ammo, because when the SHTF and you think you can call 9-1-1 when somebody decides to do a home invasion, you’re dreaming. You will either get an “all circuits are busy” recording, or a dispatcher on the other end telling you “we do not have anyone available to respond right now.”

        Further, I am starting to think that the media and the libs are sowing the seeds for another civil war. I know which side I’m on, and it’s not the window smashers and the “3 different bathrooms” types.

        1. Starting to think? They’ve been working towards this for decades, destroying our borders, economy and culture.

          Dow down 1861 today – what happened that year? Theyre so transparent, like when the S&P500 bottomed at 666 or the year they closed it at 911 on the anniversary of 911. Just a complete farce.

          1. or the year they closed it at 911 on the anniversary of 911

            When did this happen?

            I’m quite suspicious about TPTB, and skeptical in general, but I dunno that daily market closing values are or could be rigged in this way.

          3. Guess that airline bailout didn’t work so well…

            It’s gonna be a long time until passenger levels are restored. Boeing and Airbus are going to have a grand time selling jets going forward. I’m sure that plenty of order cancellations are yet to come, airlines won’t even need half of their current fleets for years.

      1. It’s a structure framed with dimensional lumber, sheathed and wrapped.

        What were you expecting to observe?

          3. A cheaper window for more money?

            Wood clad windows are some of the most expensive you can buy for a house.

          4. Wood clad windows are some of the most expensive you can buy for a house.

            They are, but vinyl windows are more durable.

      2. The Bronx is Dying: Murders Are Up By 92% This Year

        by ED GARCÍA CONDE

        UPDATE 6/26/2018 8:08PM

        Murders are up by a shocking 92.3% in The Bronx as of June 24th according to NYPD crime stats compared to the same period last year. Overall NYC murders are up by 6.6% during this same period with Queens showing a 30% increase as well. Staten Island, Brooklyn, and Manhattan continue to register record drops in murders.

        The 40th Precinct in The Bronx, which covers the gentrifying neighborhoods of Port Morris, Mott Haven and Melrose, has seen the largest jump with a 300% increase in murders.

        Other Bronx precincts that showed an increase in murders this year are:

        42nd Precinct +33%
        46th Precinct +200%
        48th Precinct +100%
        52nd Precinct +50%

        These numbers are not including the triple homicide in Castle Hill or the horrific murder of Lesandro “Junior” Guzman-Feliz, the 15 year old hacked to death after being dragged out of a bodega.

        Last year The Bronx saw a historic drop in murders with only 72 murders but all that progress feels like it’s been wiped out in a blink of an eye.

        https://www.welcome2thebronx.com/2018/06/26/bronx-dying-murders-70-year/

  5. ‘San Francisco-based Laulima Development paid $13.5 million for the land in late 2017 and has put the project on hold before, most recently over last summer…Windsor’s plans to develop a new, $280 million civic center, hotel and housing project around the Town Green also have hit the skids…The 300-unit Mill Creek project, south of Windsor River Road, also has stalled’

    Golly, there’s a whole bunch of shortage there. Last summer? Man they really predicted the CCP virus.

  6. I’m keeping my mask on and still social distancing. They say I’m high risk because of age. It would be up to me to be more careful, but I don’t expect a whole shut down of all society .
    The nursing home people can’t protect themselves so that’s a different story.

    Joe Biden said in summary that Trump’s trying to steal the election. This old corrupt senile Politician Biden should stay in his basement and never come out. As usual Bidens party is trying to steal the election because they always project what they ate doing, while their false narratives are non stop .

    1. Also, I just got an email from Ally Bank, telling me the APY on my savings account is dropping from 1.25% to 1.10%…

  8. ‘Clearly COVID-19 was the cause for this drop, but I’m confident this is a temporary situation that will be reversed as King County starts to reopen, and fresher inventory comes to market.’”

    You keep whistling past the graveyard, Matt. Just remember, coffee is for closers.

  9. ‘There are many great buys in this category of homes in our area as the inventory was never flushed out from the 2008 recession,’ she said.”

    Hey Betsy, have you ever heard of strategic patience? Anyone buying now is going to be cursing their timing when the real cratering starts in the Fall.

  10. We have a lot of homeowners that are employed in the oil industry, and if they’re not put back to work, they aren’t going to be able to afford their $400[,000]-$600,000 homes,’ said broker Renee Leslie-Buckhoff.”

    News flash, Renee: those pretentious shacks are no longer worth $400K-600K.

  11. ‘I feel right now in the $350,000 to $450,000 range, it is still a sellers’ market because that’s a golden price point,’ said Lisa Skumpija of Absolute Realty Company in Pittsboro.

    Thanks for sharing your feelings, Lisa, but Mr. Market doesn’t give a rat’s ass about your womanly intuition when a little something called DATA tells a tale of woe and cratering ahead.

  12. “Miller, an appraiser, said, ‘As people lose their jobs or move out of the city to suburbs, it’s harder to fill that apartment.’”

    As NYC under DeBlasio and his crew of incompetents spirals deeper into dystopia, with criminals able to rampage with impunity, it’s going to get a lot harder to fill those overpriced money pits, Miller.

    1. This comment caught my eye:

      Thomas Sowell
      @ThomasSowell
      7h
      Have we reached the ultimate stage of absurdity where some people are held responsible for things that happened before they were born, while other people are not held responsible for what they themselves are doing today?

      1. Viva Thomas Sowell.

        BTW, the replies to that food shortage tweet are hilarious.

    2. Capitol Hill Dependent (and Entitled) Zone. “[P]lease if possible bring vegan meat substitutes, fruits, oats, soy products, etc.” 🤣

    3. Scrolling down that link is an education in itself.

      Oh, one of the many comments that caught my eye was…

      “Antifa just stormed a police precinct in Seattle and established an Autonomous Zone but remember, they don’t exist”

      1. You would think. Apparently Ngo didn’t think so. To me his reporting on all things Antifa seems pretty good. To my lefty friends and relatives he has zero credibility. I think we’re about to find out for sure who is right.

    5. This is hysterical:

      “Please if possible bring vegan meat substitutes, fruits, oats, soy products, anything to help us eat.”

      1. Reminds me of someone who says “anything is fine” when you ask them what they want to eat. And then when you get specific they’re like “Not that. No. Not that either. Yuck.”

        1. One of my aunts is a major beyatch. At a gathering she asked my other aunt what kind of pizza she wanted. My easy going aunt said “I’d like something with white sauce.” The beyatch said “no, we’re not getting anything with white sauce, what else?”

    1. Where are the “market always knows best” people after today’s crater on Wall Street?

    1. Mark Hulbert
      Opinion: The real reason for the stock market’s 7% plunge shouldn’t surprise you — and it happens every time
      Published: June 11, 2020 at 6:25 p.m. ET
      By Mark Hulbert
      Market-timer sentiment had reached extreme bullishness, setting up a sell-off
      CMT / Courtesy Everett Collection

      Here’s why the U.S. stock market plunged on Thursday: Too many bulls.

      You’ll hear other explanations, such as the risk of a second wave of COVID-19 infections and the Fed’s grim outlook for the U.S. economy. But such factors can’t really explain why the Dow Jones Industrial Average (DJIA, -6.89%) lost 6.9% while the S&P 500 (SPX, -5.89%) fell 5.9% on Thursday.

      After all, new COVID-19 cases have been disturbingly high for several weeks; the number reported on Thursday was not significantly different than any other day of recent weeks. And for some time now health experts have been expressing concern about a potentially even more lethal second wave of infections this coming winter.
      …

  20. An interesting and informative 17.5 minute video which has absolutely nothing to do with housing …

    Watch “Some Universities Are About to Be “Walking Dead” | Amanpour and Company” on YouTube
    https://youtu.be/FM5HkpyXxsQ

    1. I predicted 1/3 of college would fold or merge by 2019 i was off but we just dont need them we really need short term intensive schools.. 30-40 hours a week in 1 course for 10 weeks maybe a year, Get 4 years of education in a year or two,

    2. Nice talking points but Scott Galloway does not address the big issue of education quality in the Universities and a preponderance of administrators that is the main reason for the high tuition. From my own personal experience and in talking with colleagues in the industry (mechanical/ electrical engineering field) who have vast experience in interviewing newly minted graduates, they just do not have the knowledge one would expect after graduating with an A grade. Forget about B or C grades. Everyone of them is earnest, I will grant them that, but that is the only thing they have going for them.

      Over 15 years, I noticed that a graduate coming from a small town (typically Midwest) has a better chance of succeeding in field than someone from the cities, including 2nd generation Asian (mainly Chinese and south east Asian) graduates. It may have been family pressure for the kid to go for a STEM field.

    1. What goes up alot,
      must crater alot.

      The Financial Times
      Coronavirus business update 30 days complimentary
      Markets Briefing
      Asia-Pacific equities
      Global stocks drop on rising fears of second coronavirus wave
      Increase in US Covid-19 cases hits investor hopes for strong economic rebound
      Japanese markets fell on fears of a second wave of coronavirus infections in the US
      © AFP via Getty Images
      Hudson Lockett in Hong Kong 2 hours ago

      Global stocks fell further on Friday as fears over a second wave of coronavirus infections in the US hit investors’ hopes for a strong economic rebound from the pandemic.

      In early trading in Asia-Pacific, Tokyo’s benchmark Topix index dropped 2 per cent, Australia’s S&P/ASX 200 2.3 per cent and South Korea’s Kospi 2.7 per cent. Hong Kong’s Hang Seng fell 1.3 per cent and China’s CSI 300 index of Shanghai and Shenzhen-listed stocks slipped 0.6 per cent.

      The sell-off across Asian markets came after US and European stocks suffered their worst one-day falls since March. Investors were rattled by the Federal Reserve’s dire assessment of US economic prospects this week and rising Covid-19 cases in states in the west and south after the easing of lockdowns.

      Wall Street’s S&P 500 plunged 5.9 per cent in New York, its worst day since March 16, while the tech-heavy Nasdaq Composite fell 5.3 per cent, retreating from its all-time high.

      “The Federal Reserve’s assessment on the economy always carries weight but the latest forecasts were broadly in line with what economists have been expecting for some weeks,” said Tai Hui, chief Asia markets strategist for JPMorgan Asset Management. “The fear of a rising rate of Covid-19 infections is the most important driver in our view for this sell-off.”

      Robert Carnell, Asia-Pacific head of research at ING, said that a surge in coronavirus cases in the US had provided a reality check for markets, which have rallied in recent weeks on the expectation of a V-shaped recovery in economic activity.

      “But really, stocks probably fell so much simply because they had gone up too much,” he added. “Some investor fingers will have been burnt. But others will see this as a buying opportunity. After today’s adjustment, there is no telling which way markets will go. ”
      …

      1. “But others will see this as a buying opportunity. ”

        And their fingers will be burnt too. I wouldn’t touch this market until … I dunno, 20K. If then.

        1. 20k is still grotesquely overvalued given fundamentals. 10k is where this market should be right now, and that’s assuming we don’t go into a major, long depression.

    1. Pocket worthy
      The 2008 Financial Crisis Never Really Ended
      In “Crashed,” Adam Tooze gives a compelling account of the 2008 financial crisis, which is not ready to be resigned to just the history books.
      Quartz
      Eshe Nelson
      Photo by Jairo Daz / EyeEm / Getty Images.

      Most retellings of the 2008 financial crisis, which began in the US and swiftly spread across the world, hinge on the understanding that the crisis came to an end—and that, in the US, it ended quite quickly.

      Crashed: How a Decade of Financial Crises Changed the World (Penguin Random House, Aug. 7, 2018), the latest book by British historian and Columbia University professor Adam Tooze, says this isn’t so. Though Tooze is a historian, it would be misleading to call this a history book. Ten years later, the the crisis still essentially determines how the financial system works, thanks to the political decisions and interventions by central banks in response to it. There has been no “return” to normal.
      …

      1. There has been no “return” to normal.

        That’s for sure!

        Thanks for the tip about the book.

      2. There has been no “return” to normal.

        No. They’ve been running a rigged system for over a decade, stealing the future of the children to make the wealthy whole on their bad bets.

  23. The Financial Times
    Coronavirus business update 30 days complimentary
    UK business & economy
    UK economy shrinks by record 20% in April
    Monthly contraction as coronavirus pandemic struck far exceeds downturn in financial crisis
    Pedestrians walk past a boarded up restaurant near Piccadilly Circus in May amid the lockdown on the UK economy
    © AFP via Getty Images
    Valentina Romei in London
    9 minutes ago

    The UK economy shrank at the fastest monthly rate on record in April as the coronavirus lockdown hit demand and activity in all sectors.

    Output in the UK fell by 20.4 per cent in April, compared with the previous month, according to data from the Office for National Statistics. This is by far the largest contraction since monthly records began in 1997 and follows a 5.8 per cent contraction in March, the previous record fall.

    “April’s fall in GDP is the biggest the UK has ever seen, more than three times larger than last month and almost 10 times larger than the steepest pre-Covid-19 fall,” said Jonathan Athow, deputy national statistician for economic statistics at the ONS. “In April the economy was around 25 per cent smaller than in February.”
    …

    1. Here’s more fresh bad economic news for the HODLers and day traders to blithely ignore.

      The Financial Times
      Harry Dempsey an hour ago
      Emoticon
      Eurozone industrial production falls by record 17.1% in April
      Martin Arnold in Frankfurt

      Eurozone industrial production plunged by a record 17.1 per cent in April, as the coronavirus pandemic caused major disruption to businesses across almost all manufacturing and construction sectors of the European economy.

      The figures were slightly better than most analysts had expected, but still underline how many factories and building sites were forced to close or drastically scale back their activities due to the strict lockdowns imposed to contain coronavirus.

      While production has been increasing recently at many manufacturing and construction companies, the 17.1 per cent decline was the biggest fall since records started in 1991, according to Eurostat. Economists surveyed by Reuters had on average expected a decline of 20 per cent.

      The previous record fall was in March when eurozone industrial production dropped 11.3 per cent. Over the past year, industrial output has fallen 28 per cent across the 19-country bloc, surpassing the annual 21.3 per cent decline in April 2009 after the financial crisis.

      “In April 2020, the Covid-19 containment measures widely introduced by member states continued to have a significant impact on industrial production,” said Eurostat. “Overall, industrial production in the euro area and EU has fallen to levels last seen in the mid-1990s.”

      In the UK, industrial production fell by a historical 20.3 per cent between March and April, the Office for National Statistics announced separately on Friday.

      That was mirrored by similar monthly falls in April industrial output reported recently by the eurozone’s four large economies: Spain’s fell 21.8 per cent; France was down 20.1 per cent, Italy decreased 19.1 per cent and Germany declined 18 per cent.
      …

  24. Are the BLM rioters going after SBUX next? It’s hard enough to run a business in the COVID-19 pandemic without the added complication of lawless globalist looters attacking you.

        1. A damned if you do and a damned if you don’t situation. It’s what happens when you try to cater to both the woke and the non-crazies. Inevitably you will displease the crazies.

  25. Lost in translation?

    Asymptomatic transmission of coronavirus appears to be worse than SARS or influenza — 5 reasons you should care
    Published: June 12, 2020 at 12:22 a.m. ET
    By Quentin Fottrel
    Asymptomatic transmission ‘is the Achilles’ heel of COVID-19 pandemic control, one study says
    The WHO currently estimates that 16% of people are asymptomatic and can transmit the novel coronavirus, while other data show that 40% of coronavirus transmission is due to carriers not displaying symptoms of the illness.
    MarketWatch photo illustration/Getty Images, iStockphoto

    How worried should you be about asymptomatic transmission of COVID-19?

    The World Health Organization on Tuesday attempted to clarify comments made just 24 hours earlier that transmission of the novel coronavirus in carriers who don’t show apparent symptoms happened in “very rare” cases.

    Maria Van Kerkhove said it was a “misunderstanding to state that asymptomatic transmission globally is very rare,” and that her comments during Monday’s WHO news briefing had been based on “a very small subset of studies.” “I was just responding to a question; I wasn’t stating a policy of WHO,” she said.
    …

      1. “Without thinking, I told the truth.”

        That’s comes natural…. the only exception are realtors. Lying is natural for them.

  26. Indiscriminate destruction and mob rule have consequences.

    70 coronavirus test sites were destroyed during the George Floyd protests, according to the US government. Officials worry it could lead to a spike of infections.
    Bill Bostock
    Jun 10, 2020, 7:59 AM
    George Floyd protest
    Demonstrators start a fire as they protest the death of George Floyd, Sunday, May 31, 2020, near the White House in Washington, DC. Alex Brandon/AP Photo
    – Seventy coronavirus test sites have been destroyed during US protests against George Floyd’s death, leaving White House officials fearing a spike in infections.
    – In audio leaked to The Daily Beast, Dr Deborah Birx — the White House coronavirus task force chief — told state governors on Monday there had been a resultant drop in testing.
    – “Scramble now to make sure there is testing available in urban areas,” Birx said.
    – Birx also said that relentless yelling by protesters may have outweighed the benefits of wearing masks.
    …

  27. The Financial Times
    Coronavirus business update 30 days complimentary
    Coronavirus pandemic
    US coronavirus outbreak continues to spread south and west
    Seven states that were spared initial outbreak see new daily case totals at or near highs
    US states on Thursday reported 22,251 new cases over the previous 24 hours, according to data compiled by the Covid Tracking Project © AP
    Peter Wells in New York yesterday

    The seven US states that reported the highest number of new coronavirus cases on Thursday were in the south and west of the country, further evidence that the outbreak is quickly spreading in states that moved to reopen their economies last month.

    Most of those seven states showed increases that were at or near all-time highs, including Florida, which reported 1,698 new positive tests over a 24-hour period, a one-day record. New daily cases in Florida have exceeded 1,000 for eight of the past 10 days, compared with a rate of just over 600 a month ago.

    The prospect of a new wave of cases outside New York and New Jersey, which were the US’s biggest hotspots before imposing strict lockdowns, has spooked investors, sending the benchmark S&P 500 down nearly 6 per cent in Thursday trading.
    …

    1. further evidence that the outbreak is quickly spreading

      The scam is being perpetuated, but not everyone is believing it.

      Testing has been dramatically increased in Florida and the number of positives continues to pile up. The percent positive however has plummeted from 7% to 4%. Real Cases (ICU) have gone down dramatically.

      So there have been 107,000 more swabs in the first 11 days of this month as compared to the first 11 days of last month.

      “If you do 2,000 tests one day, 4,000 tests the next, you’re going to get more positives when you do the 4,000,” Gov. Ron DeSantis told reporters Thursday.

      Sun Sentinel June 11

      1. Just as a side note, it appears that Florida has started to add positive antibody test results to the tally of “new cases”.

        “Lies, damned lies, and statistics”

        Mark Twain

        2. “Lies, damned lies, and statistics”

          I’ve stopped reading anything COVID related.

    1. Interesting how the Mod in Seattle who took over those City blocks doesn’t believe in the democracy process such as voting.

      They demand a defunding of Police with free health care, free education, and a raise in salary for teachers, along with other free shit demands.They sound like Elizabeth Warren or Bernie Sanders.

      I say defund the Universities that are Communist training grounds for the overthrow of the USA Constitution and the freedoms the USA has represented since it’s inception.

      These mindless jerks don’t even realize that they are brainwashed and they have no conception what living under a Communist Country would be like.

      I have researched Commie Processors and how they sell these Commie ideas. They make it sound like everybody will just share the means of production and everyone will be equal and just. They peddled the evils of USA history while no mention of the history of evils with Communist Countries.
      In the meantime these brainwashed people can’t see that the Globalist Money Changers have looted this Country, outsourced jobs and manufacturing and defunded the working class in favor of monopolies and rigged markets .
      It sounds so good to say that everybody has a right to all this free shit without earning it, so it has to be taken from someone that produces it. Everyone ends up equally poor with a Big Government that tells you what you get.
      These current protests are built on false narratives , but no doubt the Dems party ,along with their media cheerleaders , endorse the nonsense, and they have become dangerous.

  31. Wow, that creepy Governor from Seattle was on TV last night acting like the lawlessness in her City is like “the summer of love”
    .
    This nut jobs Politicians in these liberal cities are useful clowns for the Commie Party that wants a breakdown of civil society with a breakdown of law and order.

    That Governor sounded like some hippy cult member . These elected officials in these left wing Cities seem to promote lawlessness without regard to the populstion that is harmed by these acts. When you have political people abandon law abiding people, than you know they are Commie Thugs in which the ends justify the means.
    The Feds need to have investigations on attempts to overthrow the Government by these lawless people. These elected Politicians should be arrested along with their looters.

    1. These elected Politicians should be arrested along with their looters.

      Los Angeles Times executive editor Norman Pearlstine says the word looting is racist.

      The left is going for broke with their Newspeak.

      1. Right, 1984. Change words so people can’t think or call something what it is.

        Growing up a 1984 type of development was so far fetched. Now I see this before my eyes that it’s mind blowing to me.

        1. The cancel culture is straight out of 1984. Misspeak and you will become an unperson.

          It’s double plus ungood.

          1. Fine. Instead of calling smashing, burning and stealing “looting”, call it exercising racial privilege.

  32. Interesting how the lawless looters are calling for defunding of Government pensions of Police. But than the money should go for free shit for them .

    However bloated these Pensions are, why should people who have hardly worked get what was paid into for years.

    It’s all about free shit, while I’m hard pressed to see what the lawless looters have contributed to Society.

    Even when you pay into Medicare you whole working life, as well as private Insurance until you become entitled to Medicare, these people want Medicare for all, which would triple taxes.

    Why don’t these lawless looters go after the Globalist that screwed America to bring back jobs and do away with monopolies and rigged markets?

    Nope they are to brainwashed and stupid to even know who is screwing them.

    1. Interesting how the lawless looters are calling for defunding of Government pensions of Police. But than the money should go for free shit for them .

      The jokes on them, the masses won’t see a penny of that money. It will get siphoned up by their “leaders” who will suddenly have great paying jobs in newly created departments at city hall.

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