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Not Having The Demand Estimated

A report from WBAL TV in Maryland. “Brian Coleman, a senior home loan consultant with Main Street Home Loans, said average mortgage and refinance rates are under 3%. ‘It’s helping people with their purchasing power — you can afford a little bit more house with a little bit less payment,’ Coleman said. The reason has to do with low inventory and banks’ uncertainty concerning the economy and COVID-19. ‘You have banks and backing and investors things like that that want to keep this thing going.'”

From DS News. “Thirty-two percent of Americans did not make a full, on-time housing payment is July, according to Apartment List. This is up slightly from 30% in June. During the first week of July, 19% of Americans had made no housing payment, while an additional 13% paid just a portion of their monthly bill. The report added that 43% of households earning between $25,000 and $75,000 did not pay their full housing payment in July. Additionally, homeowners between the ages of 45-60 were found to miss the most payments at 22%. An additional 7% made a partial payment.”

“Black Knight’s latest report stated that with 4.1 million homeowners past due on their mortgage loans, the national delinquency rate is now 7.76%. Delinquencies jumped 20% and 1.3 percentage points higher in May, which Black Knight noted, ‘would have been the worst single month ever recorded if it weren’t for the 3.1 percentage point increase the month prior.'”

From The Real Deal on Florida. “Citing construction defects and potential future flooding issues, a Los Angeles buyer wants to kill his deal to buy a top-floor unit in a new Bay Harbor Islands boutique condominium. Richard Bergman, the attorney for the development entity, said every floor in the building has received a certificate of occupancy, and the common elements have a temporary certificate of occupancy. Bergman said he had not seen Henros’ lawsuit but chalked it up to buyer’s remorse.”

From Mansion Global on New York. “Billionaire hedge funder and major Democratic donor Henry Laufer listed his Trump Tower condo in Manhattan for $6.75 million on Wednesday. Mr. Laufer and his wife have owned the four-bedroom aerie at the iconic Fifth Avenue building, since 2006, according to public property records. They paid $9.5 million at the time, nearly $3 million less than they’re asking for the lavish condo today.”

From The Real Deal. “In March, the federal government sold a 13,000-square-foot mansion in the exclusive Bird Streets neighborhood that once belonged to Malaysian fugitive Jho Low. In May, it unloaded a condo in New York City’s trendy Soho neighborhood that Low had also owned. Now, the government wants to sell off another property it seized from him, the 116-room Viceroy L’Ermitage Beverly Hills, according to the New York Times.”

“Along with the Viceroy L’Ermitage, the Bird Streets home and the Soho condo, Low bought an 85 percent stake in the Park Lane Hotel, and another Manhattan condo. The L.A. home and the Soho condo were both sold at steep discounts. The L.A. home sold for $18.5 million, less than half what Low had paid in 2016.”

The Los Angeles Times in California. “Adam Lambert couldn’t quite turn a profit in Hollywood Hills. The ‘American Idol’ alum just sold the modern digs for $2.92 million, or $75,000 shy of what he paid six years ago.”

From Patch Marin in California. “Having conducted the study since 2015, Kentfield-based Foundation Homes Property Management is well-positioned to characterize the market and to predict changes that may be on the horizon. The April 1/June 30 period is the first studied during state and Marin County regulations related to the COVID-19 pandemic. Although properties stayed on the market for shorter periods of time (generally 4-6 weeks), demand and rental closing volume are still well below last year.”

“The average discount (actual price to listed price) as in the 5% to 10% range. Approximately half of Foundation’s properties are in the luxury segment.”

The Houston Chronicle in Texas. “Originally listed in 2019, the Memorial mansion at 402 Timberwilde Lane just got a price cut of nearly $1.5 million. Last fall it was marketed at $9.998 million; its new price tag is a ‘mere’ $8.5 million.”

The Star Tribune in Minnesota. “The owner of the historic Ceresota senior apartment building in Minneapolis’ Mill District filed for bankruptcy last week, after defaulting on a bank agreement. The Ceresota Funding II LLC, at 155 S. Fifth Av., filed for Chapter 11 bankruptcy protection in court on July 1, stating it had both assets of between $10 million to $50 million and liabilities of $10 million to $50 million and up to 49 creditors.”

“Late Tuesday, the facility’s tax credit investor, MinnWest Bank, filed a motion asking a federal court to dismiss the bankruptcy case. Minn­West Bank said it notified the managing member of Ceresota on Jan. 20 that the Ceresota project was in ‘material default.’ It also said that in March, it exercised its right to become the managing member of the project and that it never authorized any bankruptcy filing.”

The Idaho Press. “In Northwest Boise, 22 nearly identical town homes sit empty. The brand-new Roe Street town homes, off State Street, were approved for 56 units by the city of Boise in April 2017. So far only part of the first phase of the project has been built. They are advertised on project developer CBH Homes’ website and have a price of $279,000 elsewhere online; this is well below the median price of $363,000 for a home in Ada County. The town homes are not listed on Zillow as available for purchase. CBH Homes did not return requests for comment about the status of the project.”

“Earlier this summer CBH Homes asked city council to grant a one-year time extension on the construction of the second phase of the town homes due to the developer, Corey Barton, ‘not having the demand he estimated’ for the town home lots in the project. Planning documents for the project available on the city’s website say the entire project is set to be 154 units.”

“North West Neighborhood Association President Richard Llewellyn said the city has often used the housing shortage as the reason for denser housing like town homes and apartments in this area instead of single-family homes, but an entire neighborhood sitting empty doesn’t do much reduce prices.”

“‘We get lots of developments rushed through, in part with the justification of trying to provide more affordable housing, and if developers are holding their product after it’s already built then it certainly doesn’t do a whole lot to meet that demand at the price people are willing to pay or can pay,’ he said.

Related Posts

How Much Have House Prices Dropped?

https://www.youtube.com/watch?v=YOepHwD6uOs https://www.youtube.com/watch?v=XwUP3v-TCQI https://www.youtube.com/watch?v=XGsTLArJSz4 https://www.youtube.com/watch?v=6cvfEF20dm4 https://www.youtube.com/watch?v=eGnRgUDSw_w https://www.youtube.com/watch?v=_juPVZl7iEw

This Post Has 108 Comments

  1. ‘Delinquencies jumped 20% and 1.3 percentage points higher in May, which Black Knight noted, ‘would have been the worst single month ever recorded if it weren’t for the 3.1 percentage point increase the month prior’

    This is going on all around the world, at the same time.

  2. ‘The L.A. home and the Soho condo were both sold at steep discounts. The L.A. home sold for $18.5 million, less than half what Low had paid in 2016’

    But it’s money laundering, they don’t care if they take a little hair-cut!

    1. Malaysian fugitive Jho Low

      “…But it’s money laundering…”

      Yep. Can’t think of any other conceivable explanation.

      I’m sure the Feds have full access to Jho Low’s tax returns.

      They have got to be a hoot.

  3. Office leasing in L.A. falls to lowest level since Great Recession

    ‘Leasing transactions were about 60% to 70% below normal for that time of year, according to real estate brokerage CBRE.’

    https://www.latimes.com/business/story/2020-07-08/coronavirus-commercial-real-estate-los-angeles

    Yesterday I went to a small specialty food market for the first time in months. There were two of us customers in there when usually there’s 15-20. They have a deli, butcher section, etc. If that food doesn’t get purchased, I suppose they throw it out or give it away. The staffing was way down too, but outnumbered the customers three or four times.

    1. It seems to me that there was tremendous overproduction of food in this country, and the world for that matter. Remember all the milk they were dumping? I think cruise ships, hotel/casinos, etc., throw away more food than people consume.

      1. I’ve covered the commodity bubble at length. My point is I’m seeing major economic contraction. I went to a new tobacconist the other day. I was the only customer for the two employees. It’s in a newer, large and kinda fancy strip type mall. Most of the businesses weren’t even open. In normal times it’s bustling every day of the week. The multiplier must be way down.

        1. I’m seeing major economic contraction, too. The only places that are “busy” that I’ve seen are outdoor places which are mostly free – the beach, etc.

      2. “I think cruise ships, hotel/casinos, etc., throw away more food than people consume.”

        That problem is solved for now, and maybe forever.

  4. Redding, CA Housing Prices Crater 11% YOY As Entry Level Real Estate Market Gets Clobbered

    https://www.zillow.com/redding-ca-96002/home-values/

    *Select price from dropdown menu on first chart

    As a distinguished economist questioned, “Why buy a house when you can rent one for half the monthly cost… Buy it later after prices crater for 70% less.”

  5. ‘a Los Angeles buyer wants to kill his deal to buy a top-floor unit in a new Bay Harbor Islands boutique condominium…Bergman said he had not seen Henros’ lawsuit but chalked it up to buyer’s remorse’

    Well it was cheaper than renting. There sure is alot of sawin’ and a slashin’ going on these days.

    ‘just sold the modern digs for $2.92 million, or $75,000 shy of what he paid six years ago’

    Eat yer crowz Thornberg.

    1. “Adam Lambert couldn’t quite turn a profit in Hollywood Hills. The ‘American Idol’ alum just sold the modern digs for $2.92 million, or $75,000 shy of what he paid six years ago.”

      He grew up within a couple of miles of where we rent in San Diego. I’m sure he learned along the way that California real estate investing is a no-lose proposition.

    2. He got out with most of his hide… those to follow won’t be so lucky.

    1. “Edmiston says the investigation has shown that Jonathan Lopez wrote the letter himself and made false statements to the police and on social media. The end result is a verbal and written admission by Lopez that the letter was fabricated.

      “Additionally, the Hermiston Police are sending the Office of the District Attorney verifiable information of potential election fraud as it pertains to the Stolen Valor Act of 2013 and other false credentials presented by Mr. Lopez during his run for county commissioner. This in conjunction with a lengthy criminal history record may result in the filing of additional charges.”

      1. So instead of keeping a low profile this liar decides to run for public office and – amazingly! – it is discovered that he has a lengthy criminal record and claims a lot of false credentials.

        If a puke is gonna run for public office then it is highly probable that his political opponent is gonna look into digging up some dirt on him. This successful digging can be accomplished with a few minutes at a computer keyboard.

        This guy is a real dummy.

          2. Somebody bring me a teddy bear. I want to show you where Crooked Hillary…touched me…when I encountered her roaming the woods.

            #MeTooLottery

          3. What would be the advantage of having a racist letter sent to him?

            Probably some twisted mental illness related to Munchausen syndrome by proxy.

  8. Brian Coleman, a senior home loan consultant with Main Street Home Loans, said average mortgage and refinance rates are under 3%.

    Thirty-two percent of Americans did not make a full, on-time housing payment is July, according to Apartment List.

    Investors in mortgages must be counting on a galactic bail out of “homeowners” that dwarfs all other previous bail outs. How else could you possibly invest in 3% yield where over 30% of debtors are not making payments?

    1. “How else could you possibly invest in 3% yield where over 30% of debtors are not making payments?”

      By the use of other people’s money? A long as you get to collect the fees and the risks are passed on to the true owners of the money (think pension funds, mutual funds, etc) then ya gotta keep on dancin’.

      1. “…where over 30% of debtors are not making payments?”

        In principle, if not in practice, couldn’t the Fed allocate some of its Unlimited QE to buy up the debt with 30% nonpayment at par value, thereby protecting the HODLers from this unfortunate development?

  9. Vote with your feet, and your wallet, by not buying housing and paying property taxes to cities unwilling and unable to maintain law and order:

    “The leadership of Portland’s police union announced a vote of no confidence in city leaders Wednesday, saying they do not believe commissioners or the mayor will act to stop violent protests in Portland.

    “I have no confidence that the city will stop the rioting and the looting and protect the livelihood of Portlanders,” said Portland Police Association President Daryl Turner. “All of Portland deserves safety, security and a non-violent platform to speak their minds.”

    https://www.kgw.com/article/news/local/portland-police-union-leader-news-conference/283-67ad410e-dae5-43e2-979c-811a92240555

    Portland is a sh*thole.

        1. In defense of younger generations, it wasn’t their fault that former 60s radicals, microbes of disintegration, borrowed into government, academia, the media, finance, etc. and subverted the system from within. You can lay that squarely at the feet of the Boomers who if they weren’t actively complicit, certainly didn’t do anything to impede the globalists and their collectivist cats-paws.

        3. People with an IQ lower than their body temperature shouldn’t be allowed to vote. The feverish stupid are the cause of all our electoral problems.

          1. shouldn’t be allowed to vote

            That’s another delicate issue. The founding fathers were kind of picky about who they allowed to vote in a way that’s considered very unfair today. But their method may have had some side effects that were needed if we could find a more fair way to implement them.

    2. “Portland is a sh*thole.”

      – One has to laugh, else, would cry! The Portland news speaks for itself and this isn’t even about protests or riots. Every blue city/state suffers, because Socialism. Same symptoms, same cause, while the citizens at large bear the brunt of the suffering. Sufferin’ succotash! You’d think people would look at Cuba, Venezuela, former USSR and heed the warnings. Dreaming of Socialist utopia, but ended up with nightmares and a migrane! 🙂

      https://tinyurl.com/yct9lp6q
      NY Post
      Oregon man driving stolen car crashes into woman driving another stolen car
      By Zachary Folk
      July 8, 2020 | 2:14am | Updated

      A police chase in Oregon ended when a driver fleeing authorities in a stolen car crashed into a woman driving another stolen car.

      The debacle took place Monday when police responded to a report of a stolen Toyota Land Cruiser driving through downtown Newberg, according to the Newberg-Dundee police.

      A pursuit ensued, and lasted for several blocks until the driver crashed into another car near an intersection.

      Cops identified the driver of the first car as Randy Lee Cooper of Portland.

      After taking Cooper into custody, the police realized that the second car was also reported stolen in an unrelated crime three weeks ago.

      The driver of that car, Kristin Nicole Begue, was also found to be under the influence.

      Cooper was charged with unauthorized use of a motor vehicle, attempting to elude police, assault and reckless driving.

      1. Every blue city/state suffers, because Socialism. Same symptoms, same cause, while the citizens at large bear the brunt of the suffering.

        Keep Portland weird!

          1. My nice, boring suburb is looking better all the time, particularly when most urban attractions like sports, bars, public transportation, etc. are closed or undesirable.

      2. Nothing new for Yamhill County. My criminal law professor set all the hypothetical we discussed in class there.

    4. “All of Portland deserves safety, security and a non-violent platform to speak their minds.”

      Portlanders voted for a libtard mayor and city council. They deserve everything that’s happening to them, and more.

      1. Denver has its own resident Marxist on its City Council, Candi CdeBaca.

        Another reason I live in Arapahoe County, not in Denver.

        1. CdeBaca

          I remember seeing this name for first time in the US. I never heard of it during my years in Mexico City. Turns out it’s a contraction (and corruption) of Cabeza de Vaca (Cow’s head). It originated in the US southwest.

          I wonder if Hancock pushed the selection of homeless camp locations back onto the city councilors, who have been clamoring for them, perhaps hoping that none will actually volunteer a place their district. They know that while their constituents virtue signal a lot, they don’t actually WANT any homeless in their neighborhoods, as was evidenced by the homeless rights ballot initiative (AKA the right to survive) that went down in flames last year. It would have granted the homeless the right to camp out in any public space, including the sidewalk in front of your house.

          1. So I wonder if she’s descended from Alvar Nunez Cabeza de Vaca?

            I imagine he fathered a few offspring on his way through the SW.

    1. Real Estate
      A Home Price Slump Is Coming. These Markets Will Be Hit Hardest.
      Shaina Mishkin
      July 7, 2020 8:01 am ET
      Housing development in Phoenix, Arizona
      Justin Sullivan/Getty Images

      Despite relatively steady home price appreciation in May, the U.S. housing market is on the precipice of an extended price slump, according to a CoreLogic report released Tuesday. The housing data provider’s May Home Price Index and HPI Forecast report predicts a year-over-year home price decrease of 6.6% by May 2021.

      The forecast comes on the heels of a host of relatively positive housing data that found demand picking up after its initial coronavirus-induced decline in early spring. Home prices in May 2020 grew 4.8% from the same month in 2019 and 0.7% from April 2019, according to the CoreLogic report—greater than the 0.3% month-over-month increase CoreLogic predicted in April.

      While robust demand and a tight supply of homes for sale have kept prices up through the crisis, “the anticipated impacts of the recession are beginning to appear across the housing market,” CoreLogic said in a press release. The company’s May forecast predicts a month-over-month price decrease of 0.1% in June and a year-over-year decline of 6.6% by May 2021.

      “Pent-up buyer demand was delayed from spring to summer and is reflected in the latest price data,” Frank Martell, president and CEO of CoreLogic, said in a press release. “But with elevated unemployment, purchase activity and home prices could fall off after summer.”
      …

  11. South Lake Tahoe, CA Housing Prices Crater 10% YOY As Foreclosures Rot Southern California Housing Market

    https://www.zillow.com/south-lake-tahoe-ca/home-values/

    *Select price from dropdown menu on first chart

    As one Los Angeles 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. Today is a great day to HODL Treasurys, as a massive rally is underway. Don’t deny your FOMO by failing to buy Treasurys before the next leg down in yields!

    1. Bond Report
      10-year Treasury yield plumbs April low after best 30-year bond auction since 2014
      Last Updated: July 9, 2020 at 3:22 p.m. ET
      First Published: July 9, 2020 at 8:50 a.m. ET
      By Sunny Oh

      U.S. long-term Treasury yields fell Thursday after investors showed strong demand for a sale of long-term bonds, buoying trading for government debt.

      What are Treasurys doing?

      The 10-year Treasury note yield (TMUBMUSD10Y, 0.602%) fell 4.8 basis point to 0.605%, its lowest since April 24. The 2-year note yield (TMUBMUSD02Y, 0.160% edged 0.6 basis point down to 0.149%). The 30-year bond yield (TMUBMUSD30Y, 1.312%) tumbled 8.3 basis points to 1.308%. Bond prices move inversely to yields.
      …

  13. Young People Will Be The Pandemic’s Long-Term Economic Victims:

    “They may have been spared the high mortality rates of older generations, but COVID-19 threatens to permanently scar the career prospects of young people.”

    https://www.huffpost.com/entry/coronavirus-economy-jobs-unemployment-young-people_n_5f06de3ec5b67a80bc033127

    “Pent-up demand” LOL? More like a Lost Decade of first time used house buyers not buying $500,000 starter homes.

    REALTOR, get a real job.

    1. The fact young people are graduating from our NEA indoctrination mills as functional illiterates with zero critical thinking skills doesn’t bode well for their ability to be productive citizens. But of course that was the plan all along.

      Heckova job, NEA. Each new class of future lifetime Democrat entitlement voters is even more dumbed down than the one before.

      1. assuming they survive the coming world war

        If the nukes fly they will take lives, without discriminating between the parasites and the productive.

  14. Not enough has been said about the betrayal of the High Court in allowance by the Court for Corporations to contribute to elections.

    This just set the stage for money to buy out elections.

    The Framers of this Constitution did not allow Corporations that kind of power. Now the High Court sold out to the money powers, so we have COMMIES AND Cooperate Globàlist being a minority yet running and the
    control of Country.

    It’s not a government for the people under capitalism anymore. It’s some strange power by the looters and parasites.

    People in my age bracket don’t even know what the hell is going on.

    For the Dems to put up a Corrupt old senile jerk like Biden is a insult No longer is there power to the Majority anymore in the USA.

    The overhaul that’s needed is extensive . A Biden election would cement a Commie /Globalist takeover and the opposite of equal protection under the law.

    Not good, not good at all.

    1. The Framers of this Constitution did not allow Corporations that kind of power.

      The Framers of the Constitution had a lot to say about the “monied interests” and the mortal threat they posed to the American Republic and liberty. In their great foresight, they also gave us the 2nd Amendment as the ultimate bulwark against tyranny and rule by the mob.

      3. Good question about what insured capitalism in the Constitution. I would say equal right to the pursuit of happiness, as well as long standing property rights.
        Under Communism a central Government would control the means of production and how much everyone gets. Communist actually just take private property and industry. Historically the Commies have always killed millions of people during their takeover. You wouldn’t have any constitutional rights under Communist because the Government calls the shots.

  15. https://www.usatoday.com/story/news/politics/2020/07/09/supreme-court-allows-native-american-jurisdiction-half-oklahoma/3208778001/

    SCOTUS overturns conviction in case of rape of 4 year old child, establishes that Native Americans are not subject to state law in the entire eastern half of the state of Oklahoma including most of the city of Tulsa. Any Oklahomans out there? How does that work? They are exempt from drunk driving convictions but can still get a driver’s license and use state highways? Don’t have to pay property taxes but still get to use the school system? Don’t have to pay state taxes but get in state tuition at state Universities? Can rob your house and not be subject to arrest? What are the logistics? The state will need approval from the tribe to build roads, bridges, and schools?

  16. “Thirty-two percent of Americans did not make a full, on-time housing payment is July, according to Apartment List.

    That is a staggering statistic. And yet the Fed’s Ponzi markets shrug off rapidly deteriorating economic fundamentals.

  17. The report added that 43% of households earning between $25,000 and $75,000 did not pay their full housing payment in July.

    Maybe those 43% should’ve never been allowed to sign mortgages for shacks they clearly couldn’t afford.

    1. Note they said “housing payment.” That means renters too. And I suspect that many of those renters could pay the rent, but they’re taking advantage of the moratoriums to save up, or play on Robin Hood.

  18. The L.A. home sold for $18.5 million, less than half what Low had paid in 2016.

    Please join me in observing a moment of silence for all those dear departed Yellen Bux.

  19. Joe Hiden is out of the basement and reading a speech that contains bragging about the $84 billion he got out to Americans from “his” Stimulus Program. Of course he forgets to mention that they were Americans who donated to the Obama campaign like the dude who got his $500 million investment back from the bankrupt solar panel company Solyndra just before it went under.

  20. The Victim Chronicles and bag holder sob stories are starting to crop up in the MSM again, as the greedy and stupid are lured unsuspectingly into Wall Street’s rigged casino. The speculative excesses unleashed by the Fed and its torrent of funny money since 2009 have completely upended any concept of true price discovery – for now.

    https://www.marketwatch.com/story/he-traded-15000-into-1-million-from-there-he-lost-almost-everything-2020-07-09?link=MW_latest_news

  22. Large cities, prepare to kiss your tax revenue GOODBYE:

    “Shark Tank” investor Robert Herjavec said Thursday he believes the coronavirus pandemic has shifted attitudes about city living, altering the dynamics of the real estate market for years ahead.

    “This is one of the greatest moves to the suburbs from urban areas since the 1950s or the ’60s,” Herjavec said on CNBC’s “Squawk Alley.” “I recently moved out of Los Angeles into a suburban area, and I can tell you on a very personal level, my area is on fire.”

    Herjavec, CEO and founder of cybersecurity firm Herjavec Group, said he feels that the changes in geographic preference will persist beyond just the height of the Covid-19 outbreak, predicting it will “be a trend for a while.”

    “Everybody wants to leave large urban communities and move out into the suburbs,” said Herjavec, who also owns stakes in many small and medium-size businesses. “And I think urban real estate is going to hurt for a little bit.”

    https://www.cnbc.com/2020/07/09/shark-tank-investor-herjavec-were-about-to-see-biggest-exodus-from-cities-in-50-years.html

    Nobody wants to live with looters. Urban America is headed right back to the 1970s, and its voters will never understand why 🙁

    3. And there are those, such as Peak Prosperity, who think that the suburbanites will move further out to the countryside, where they will w@h while drying herbs and collecting eggs. So idyllic…

      1. where they will w@h while drying herbs and collecting eggs. So idyllic…

        Ha Ha Ha. you mean So Much Work… So many people are so soft and unprepared to backslide their living. I happen to like and appreciate our modern world and all the optimizations we have managed to come up with.

    4. Denver suburb passes resolution shielding cops from key portion of Colorado’s new police reform law:

      “Just weeks after Colorado passed a sweeping police reform law, Greenwood Village has approved a measure that ensures its officers aren’t on the hook financially if they mistreat or harm a citizen.

      Greenwood Village council members unanimously passed a resolution Monday saying the city will never find its officers acted in bad faith. That effectively shields them from having to face personal financial liability for misconduct on the job — contrary to a key stipulation of Senate Bill 217, which became law last month.”

      https://www.thedenverchannel.com/news/front-range/greenwood-village/denver-suburb-passes-resolution-shielding-cops-from-key-portion-of-colorados-new-police-reform-law

      Hey Denver, are you sick of all the needles and feces and tent cities and mobs of Soros employees looting businesses and vandalizing the state capitol while the Denver Police stand by and do nothing? Come on down to Arapahoe County, or better yet, Douglas County.

        1. I had to look up what ACAB stands for – all cops are bastards. These simple minded fools have no grasp of nuance – all whites bad, cops bad, minorities oppressed, etc. If any of those idiots got in a violent situation the first thing they’d do is call for those bastards to save their worthless a55es. If I was one of those bastards taking the call and saw an ACAB sign I’d let them bleed out while making small talk with my fellow bastards.

          I dont see how such demented minds can be fixed, short of lobotomies or just putting them down en masse, like you would with a rabid animal. Maybe giving them large amounts of drugs and letting them live under freeway overpasses is the best solution.

        2. This will start at 2:16

          I would like to know who told or taught this young lady (and I am using the term young lady as loosely as it can be used) the BS spewing from her mouth from 2:16 – 2:42

          Is it the public school system? Although I can’t believe she could possibly have any student loan debt, college professors? Her BLM recruiter? Norah O’donnell? Who?

          https://youtu.be/UliJSmFJxLc?t=136

        3. I’m going to get a concealed carry permit, soon. When I drive through urban areas, I’ll have my .357 Sig sitting on the center armrest. If anybody so much as tries to enter my vehicle, I’ll smoke ’em.

          1. After listening to the “young lady” spewing from 2:16 – 2:42 about white people being comfortable in their live and being sorry they were “inconvenienced” by being stopped in traffic, having their cars beat on, being threatened and having thugs trying to get in their cars I wondered if that came from a leftist talking point producing think tank.

            I am posting three paragraphs from the article I instantly found on this subject, the first, middle and last.

            White People: Your Comfort Is Not Our Problem

            BY JENAE HOLLOWAY
            June 11, 2020

            On a recent call, a friend and I were catching up when our conversation veered into the Black Lives Matter movement and the roller coaster of emotions we’ve experienced as protests have broken out across the nation in response to the killing of George Floyd.

            It’s time to prioritize the dire concerns of my Black community over the comfort of the white people around me, no matter the cost.

            I know that this difficult time is signaling our becoming. I hope that when this is all over, we’ll look back at this time with clarity—understanding that this journey was vital to maintaining and appreciating the new, more just society we birthed.

            Jenae Holloway is a Vogue contributor living in Brooklyn.

            https://www.vogue.com/article/white-people-your-comfort-is-not-my-problem-black-lives-matter

  23. Lemmings rushed into the illusory “safety” of tech stocks today as the markets cratered. The implosion of Tech Bubble 2.0 is going to be a wipeout of the Robinhood traders who have followed Judas Goat touts and shills used by Da Boyz to lure them into the financial slaughterhouse.

    1. The Nasdaq basically reflects how much we look at screens. We are going to be looking at a lot more screens in the coming months.

  24. Biden says he plans to raise “hundreds of billions of dollars” by raising the corporate tax rate. He’s also trying to tap into anti-Establishment anger by blasting corporations’ “shareholder value” emphasis that enriches CEOs with stock buybacks using borrowed Yellen Bux at next to no interest.

    Who does this asshat think he’s fooling? Biden was the parrot on Obama’s shoulder during the 2008 Wall Street bailout, and said nothing while the Fed escalated its War on Savers and financial warfare against the bottom 95% to new heights. Now he’s trying to sound like a populist? Are ‘Muricans really dumb enough to buy it?

    1. That thing is a monetizable asset, even more so as the statues come down. *Most* people know that the show did not present actual events.

    1. No “pent-up demand” for $500,000 starter homes happening here.

      REALTOR, starve and die.

    1. Danged lag effect.

      The Financial Times
      Coronavirus business update 30 days complimentary
      Coronavirus pandemic
      US sunbelt states see record jumps in Covid-19 deaths
      California, Texas and Florida all tally unprecedented one-day increases in fatalities
      An employee wears a protective mask in Florida’s Miami Dade County. On Thursday, the state’s health department reported an increase of 8,935 positive tests from the previous day
      © Jayme Gershen/Bloomberg
      Matthew Rocco and Peter Wells in New York 22 minutes ago

      The three biggest states in the US sunbelt have recorded their largest single-day increases in coronavirus-related deaths since the start of the pandemic, an alarming indication the latest outbreak could lead to another surge in fatalities.

      The 120 deaths reported by Florida on Thursday was more than double the 48 recorded the day before, and California tallied 149 fatalities, up from 119 on Wednesday. Texas had 105, the second day in a row of a record-setting increase.

      Wall Street sold off sharply after Florida released its latest data during the trading day, reflecting increased nervousness among investors that some of the US’s most populous states may have to reverse economic reopening measures.
      …
      The benchmark S&P 500 index fell 1.7 per cent in morning trading before paring losses in the afternoon to close down 0.6 per cent on the day.
      …

      1. health department reported an increase of 8,935 positive tests from the previous day

        The total of positive tests for the day was 8,935. That was a decrease from the previous day’s 9,989.

        The death count is still flat at 50/day as it was all through April, all through May and all through June, despite an occasional reporting spike.

        Florida has 21 million population, so about 500 people die every day. 50 of these die with a positive Covid test, not “of Covid” but “with Covid”. That’s 10%. 10% of the living population test positive also.

        From a numbers standpoint, there isn’t evidence of anything at all happening in Florida.

    2. Real Journalists are still pimping the narrative about Orange King’s rally in Tulsa causing a new bat soup flu outbreak, whilst unanimously ignoring mobs of maskless looters and other antifa trash rallying for gibs and to erase history.

      1. I’ve got a new name for the Redskins…

        The “Sooners”.

        Supreme Court says eastern half of Oklahoma is Native American land

        JUL 9 202010:06 AM EDT

        Tucker Higgins
        Dan Mangan

        The Supreme Court ruled that a huge swath of the state of Oklahoma is Native American land for certain purposes, siding with a Creek Nation man who challenged his conviction by state authorities in the territory.

        The 5-4 decision was authored by Justice Neil Gorsuch.

        The case sprang from the conviction of Creek member Jimcy McGirt in an Oklahoma court of raping a 4-year-old child on land whose ownership was in dispute in the case.

        “Today we are asked whether the land these treaties promised remains an Indian reservation for purposes of federal criminal law,” Gorsuch wrote.

        “Because Congress has not said otherwise, we hold the government to its word,” he wrote.

        The ruling in the case of convicted child rapist Jimcy McGirt, and in a related one Thursday by the Supreme Court involving another Muscogee Nation member, convicted murderer Patrick Murphy, overturns their convictions on state charges. Murphy was sentenced to death.

        However, both men can now be prosecuted for the crimes by federal authorities, according to a lawyer for the tribe.

        The cases hinged on application of the Major Crimes Act, which gives federal authorities, rather than state prosecutors, jurisdiction over serious crimes committed by or against Native Americans in Native American territory.

        Chief Justice John Roberts dissented from the ruling, as did his fellow conservatives, Clarence Thomas Samuel Alito and Brett Kavanaugh.

        In his dissent, Roberts warned that “across this vast area” now deemed to be Native American land, “the State’s ability to prosecute serious crimes will be hobbled and decades of past convictions could well be thrown out.”

        https://www.cnbc.com/2020/07/09/supreme-court-says-eastern-half-of-oklahoma-is-native-american-land.html

      2. “antifa trash”

        What is the Anti in Antifa supposed to be anyway?

        From Wikipedia

        Antifa (/ænˈtiːfə, ˈæntiˌfɑː/)[1] is an anti-fascist political movement in the United States[2][3][4][5] comprising a diverse[6][7] array of autonomous groups that aim to achieve their objectives through the use of both non-violent and violent direct action rather than through policy reform.

        From Wikipedia

        Fascism (/ˈfæʃɪzəm/) is a form of far-right, authoritarian ultranationalism[1][2] characterized by dictatorial power, forcible suppression of opposition, as well as strong regimentation of society and of the economy

      3. The State and Federal Political system has been corrupted so much that I don’t even recognize America anymore.

      4. What is the Anti in Antifa supposed to be anyway?

        Once I read the Vice article and saw that they consider other people’s thoughts to be violence that requires a physically violent response I put them in the “eventual enemy” box. They do not believe in the Constitution and want to remove it as the law of the land and replace it with their own ideas. Therefore as soon as they can, they will force me to enthusiastically submit or die. That’s how it works every time.

        1. They do not believe in the Constitution and want to remove it as the law of the land and replace it with their own ideas. Therefore as soon as they can, they will force me to enthusiastically submit or die. That’s how it works every time.

          We will slaughter them before that ever happens.

          1. We will slaughter them before that ever happens.

            We’ll see. But I am glad to not be a Russian or Chinese peasant in this situation. I do have many more options than they did.

  29. Manhattan, kiss that tax revenue GOODBYE:

    “The weakest segment of the rental market is large, family-sized rentals. Brokers say many families that normally would be renting in the city have left for the suburbs where they can have a yard and more space.

    The number of new leases signed for three-bedroom rentals in Manhattan fell by 42% in June compared with a year earlier. Downtown Manhattan and the East Side are getting hit the hardest, with a 41% decline in rentals downtown and a 49% drop on the East Side.”

    https://www.cnbc.com/2020/07/09/empty-manhattan-apartments-reach-record-levels-landlords-slash-rent.html

    It’s almost like there’s a pattern happening here.

    Real Journalists, can you answer why?

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