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The Downturn Started In 2013, And No One Noticed

A report from USA Today. “The housing market has been booming during the COVID-19 crisis, but America’s cities are taking it on the chin. Big cities like New York and San Francisco, in particular, are struggling with falling prices. ‘Since the crisis began, however, Redfin is handling about 600 sales a month in Manhattan, down from about 1,100 pre-pandemic, and prices have been reduced an average of about 10%, says Martin Freiman, a Redfin broker. ‘Everybody just left the city en masse,’ he says. ‘People just stopped buying homes…You have an open house and no one shows up.'”

The Boston Herald in Massachusetts. “Landlords are calling on the government to ante up cash for missed rent payments amid the pandemic, saying eviction ban laws with scant help for property owners will do little to stave off foreclosures as their bills keep piling up. ‘Sadly, no one cares,’ said Doug Quattrochi, executive director for Mass Landlords, which primarily represents small, independent property owners. ‘There’s not a lot of interest really in avoiding the tidal wave of evictions. Landlords are going out of business and selling to corporate developers.'”

“For property owner Leo Sheehan of Falmouth, it means he’s out $5,600. Sheehan — who was preparing to sell the New Bedford condominium he’s rented for the better part of a decade — served his often-late-on-rent tenant an eviction notice two weeks before the coronavirus pandemic hit. He said he tried to work with the long-term tenant, but once the state’s eviction moratorium was announced in April, his tenant stopped answering his calls.”

“‘I understood the need for the moratorium on the evictions, but (the governor) has to think about the landlords who are getting screwed over. People are laughing at us,’ Sheehan said.”

The New York Times on Florida. “If rising seas cause America’s coastal housing market to dive — or, as many economists warn, when — the beginning might look a little like what’s happening in the tiny town of Bal Harbour, a glittering community on the northernmost tip of Miami Beach. With single-family homes selling for an average of $3.6 million, Bal Harbour epitomizes high-end Florida waterfront property. But around 2013, something started to change: The annual number of homes sales began to drop — tumbling by half by 2018 — a sign that fewer people wanted to buy.”

“Prices eventually followed, falling 7.6 percent from 2016 to 2020, according to Zillow. All across Florida’s low-lying areas, it’s a similar story, according to research published Monday. The authors argue that not only is climate change eroding one of the most vibrant real estate markets in the country, it has quietly been doing so for nearly a decade.”

“‘The downturn started in 2013, and no one noticed,’ said Benjamin Keys, the paper’s lead author and a professor of real estate and finance at the University of Pennsylvania’s Wharton School. ‘It means that coastal housing is in more distress than we thought.'”

“The market decline detected by Dr. Keys and Mr. Mulder appeared to be furthest along in the cycle in Miami-Dade County. There, prices in the most exposed towns aren’t just growing more slowly than in safer areas, they’re already falling. Since 2016, prices have fallen by 13 percent in Key Biscayne, and 9 percent in Sunny Isles Beach.”

“Gabriel Groisman, the mayor of Bal Harbour, said the downturn in his city was caused by tighter federal rules that made it harder for wealthy foreign buyers to move money into the United States, as well as an uptick in new condominiums that pushed down prices. Climate change wasn’t the problem, he said, at least not in his town. ‘I don’t see that being a consideration,’ he said.”

The Biz Journal on Hawaii. “Home prices in Hawaii rose in most places in August, but those gains are expected to slow as the drag on the state’s economy caused by the Covid-19 pandemic creates a higher supply of homes for sale and weaker demand, according to the University of Hawaii Economic Research Organization’s latest state forecast. UHERO’s forecast said Hawaii’s economy won’t see any ‘meaningful’ recovery until the middle of next year under its baseline forecast and noted that the decline in the economy, high unemployment and people moving out of state ‘will offset the demand generated by low interest rates.'”

“UHERO’s Carl Bonham noted that the mix of homes on the market is going to change, with the inventory of homes and condominiums growing at the bottom portion of the market. Hawaii has one of the worst rates for mortgages being paid on time, Bonham noted.”

“While some of those homeowners will restructure their loans, others’ homes will end up going on the market for sale or lost to foreclosure ‘but we also have a very high share of households that aren’t paying rent,’ Bonham said. ‘So there’s a whole series of factors that are conspiring to drive inventory up,’ he said. ‘And it’s predominantly at the low end.'”

“The City and County of Honolulu’s crackdown on illegal vacation rentals will also influence home prices and rents, he said. ‘So you’re going to see downward pressure on rents, and there’s a connection between rents and prices,’ Bonham said. ‘And there’s a connection between prices across the entire distribution.'”

This Post Has 101 Comments
  1. ‘the governor) has to think about the landlords who are getting screwed over. People are laughing at us’

    I certainly had a good chuckle reading that Leo. Buying RE in a socialist sh$t-hole is kinda dumb.

  2. “Since the crisis began, however, Redfin is handling about 600 sales a month in Manhattan, down from about 1,100 pre-pandemic, and prices have been reduced an average of about 10%, says Martin Freiman, a Redfin broker.”

    They have more than half the prior level of sales with prices down just 10 percent from the bubble peak?

    “Everybody just left the city en masse,’ he says. ‘People just stopped buying homes…You have an open house and no one shows up.”

    You’d think they’d be celebrating the continued presence of suckers willing and able to overpay.

    What they never talk about is just how much rents/prices went up in the prior 15-20 years, compared with incomes.

    1. I remember seeing ads for large 1 bedroom condos in Astoria $99K for ’99, now they are easily 3-400K teachers police could afford 3x income,

    2. ‘Since the crisis began, however, Redfin is handling about 600 sales a month in Manhattan, down from about 1,100 pre-pandemic, and prices have been reduced an average of about 10%, …’

      Buh…¿hotcakes?

  3. ‘The downturn started in 2013, and no one noticed’

    I thought about the term narrative and why I dislike it: it suggests there isn’t an objective reality, and I don’t buy that. But without question, the REIC media has a running narrative built around complete horsesh$t. I documented all this. NYC peaked in 2016, but the cracks were showing before that. Miami peaked in 2015, and it was the same story, things were falling apart years before.

    The NYT has hardly any truth in it these days, and another climate change angle was cooked up (for political reasons, what else?) around the ongoing crater that is the south Florida housing bubble.

    1. it suggests there isn’t an objective reality, and I don’t buy that. I agree there is an objective reality. However, there are limits to human cognitive and communication abilities. For example, just this am at about 0300 I wasn’t capable of typing this out, I was sound asleep then.

    2. “…it suggests there isn’t an objective reality, and I don’t buy that. But without question, the REIC media has a running narrative built around complete horsesh$t.”

      How are realtards supposed to find greater fools willing and qualified to catch themselves falling knives in a collapsing bubble without the aid of heaping helpings of horsesh!t?

  4. ‘Hawaii has one of the worst rates for mortgages being paid on time…we also have a very high share of households that aren’t paying rent’

    Oh, that! We can all just ride along not making money nor paying bills, can’t we? Guvnah “shot myself in the fook” wouldn’t let us down, would he?

    What a complete gotdam disaster this whole shutdown fiasco has been. And now even the WHO clowns say it was all for nothing. Unless of course, it was really intended to damage the economy to influence an election. Which is even sicker that getting the lock down wrong.

    1. It’s telling that the WHO did a 180 on lockdowns only after the globalist media began clutching its pearls at the spread of “conspiracy theories” attributed to people in lockdown spending more time on the Internet. Nothing panics the globalists like the specter of former sheeple becoming awake and aware, and rejecting The Narrative to seek out real news and real truth for themselves instead of being fed a steady diet of globalist propaganda and DNC talking points by the MSM.

      https://www.cnn.com/2020/10/07/tech/qanon-europe-cult-intl/index.html

      1. Matthias Poehlmann, a cult specialist with a German evangelical church, said people “search for conspiracy theories that are supposed to offer clarity about the secret plan of the ‘deep state’ because the coronavirus pandemic has caused a feeling in many of a loss of control.”

        “Many also believe that they are being left behind, that they don’t have a say in political decisions. And as is usually the case with conspiracy theories, they also react to a longing for simple answers,” Poehlmann said.

        Gee, Matthias, why would any normal person impacted by the collectivist control freaks’ arbitrary lockdowns feel a loss of control? And why would the 99% who are being systematically screwed over by the globalists and their Republicrat duopoly Quislings feel like they have no say in political decisions?

        1. a longing for simple answers He does have a point there. However, there is also much well-founded and very intense dissatisfaction with the path our fearless globalist leadership has been forcing the rest of us along, and Matthias is assisting in the misdirection of public attention.

          1. Some of the answers are very simple. Case in point: we won’t have honest markets or sound money until we end the Fed. And as long as the globalists and their Quislings insist on open borders and enabling mass immigration from “diversity lottery” countries, our spiral into Third World dystopia will continue.

    2. And clownifornia parasites are buying sight unseen in hawaii. As a result, many here are putting their properties up for sale at insane wish prices. Last week a house near me that was built a couple years ago was put up for sale at twice what it cost to build. Just last night an ocean front property came up for sale that was bought for about a million in 08. They want 12M for it now. As far as I can tell there havent been any significant improvements made.

      Madness everywhere.

    1. I noticed that this weekend. They probably planned the trip and with nobody around when they got here, spent the night and quietly left.

      Interesting that the media didn’t pick up on this. Why would Biden and Harris show up in Arizona, spend the afternoon and night, and leave with no event taking place?

      1. There won’t be any question the morning of Nov 4….. no matter the fine tuned theatrics and drama of the DemoMarxists.

    2. I’m adhering to the same election predictive model that was proven correct in 2016: take whatever the New York Times and Nate Silver say and add 10 points for DJT.

      LMFAO@ “Real Journalists”

    3. People’s minds are made up… why go stand in a hollering crowd and roll the covid dice? Even the president could only get about 400 at the Whitehouse thing, and his people love a rally.

          1. Contrary to what the left would like us to believe, “Hispanics” are not a monolithic block. A common beef amongst non-Mexicans is that Univision, Telemundo and the other Spanish language channels have become Mexican channels.

            And then there is that pesky problem with most Cubans not being mestizos, so they aren’t part of La Raza. I’m pretty sure that walking into a shop or restaurant in little Havana and speaking with a Mexican accent will earn you a few glares.

  5. “Landlords are calling on the government to ante up cash for missed rent payments amid the pandemic, saying eviction ban laws with scant help for property owners will do little to stave off foreclosures as their bills keep piling up. ‘Sadly, no one cares,’ said Doug Quattrochi, executive director for Mass Landlords, which primarily represents small, independent property owners.

    Cry me a river, speculators. You levered up on debt to buy overpriced rental properties, then expected to gouge renters into perpetuity to pay for them and earn you a tidy profit on appreciation. Sorry, Doug, but eight million small, independent landlords need to be driven out of business so the BlackRocks of the world, with their unlimited access to Powell Bux, can hoover up their assets at firesale prices.

  6. The authors argue that not only is climate change eroding one of the most vibrant real estate markets in the country, it has quietly been doing so for nearly a decade.”

    Um, I realize the need to be slavishly Narrative-compliant, Real Journalists, but I think maybe the bursting housing bubble has more to do with cratering Florida real estate than “climate change.” Though I will still light a votive candle before my icon of St. Greta to avoid further downgrades to my battered social credit score.

          1. Other challenges include a “toxic culture” among staffers that’s plagued by “distrust in the organization” and “in-fighting” over how “left” the publication should be, one source said.

            “Who wants to buy ads on the thing? Nobody. If Verizon can’t make money on it, who can?,” the source said. “And, you have to fire half the people? There goes the traffic. The brand means nothing anymore and it’s ultra-partisan.”

            Huffpo’s writers and editorial board are almost entirely female, so any would-be buyer has to contend with not only the growing public refusal to pay for globalist propaganda and DNC talking points, but also the endless office politics, intrigues, catfights, and pathological victimization among the staffers.

      1. It’s hilarious how the MSM has become indistinguishable from Soviet era rags like Pravda.”

        You’re right about that more like propaganda than news .

        1. Everything in mass media is propaganda: Movies, broadcast TV, streaming services, magazines, newspapers, just about everything.

          We’re the resistance, and it doesn’t feel like we’re winning. It feels like the Davos crowd is winning. They want to reset the global economy and have convinced most of the world into hiding under their beds while their economies fall apart.

          1. hiding under their beds

            The reopening of playgrounds here has unleashed another round of Karens on Nextdoor mask-shaming while claiming to not mask-shame. According to my husband this morning, CNN has article after article of fearporn for parents.

          2. the world into hiding under their beds

            Now the WHO says hiding under beds doesn’t do anything but kill people through poverty. Don’t do lockdowns they say.

            Oh, and masks don’t actually protect you. They just make you feel like you “belong”. And, the virus is “airborne”, so the 6 ft thing is just silly.

            Just a random thought here, and maybe the Prof can help with the math. This CCP virus thing has been going around since February, when everybody bought TP, rice and onions. Let’s call it 36 weeks. Testing, testing, testing says on average 5% of people sampled have it. Higher back when refers were backed up to the morgues and lower now in places like NY. An infection lasts 4 to 12 days, let’s call it 2 weeks. How long until just about everybody has been exposed?

            If you’ve gone to the grocery store, or live with someone who has, you didn’t hide under your bed very well.

  7. “Gabriel Groisman, the mayor of Bal Harbour, said the downturn in his city was caused by tighter federal rules that made it harder for wealthy foreign buyers to move money into the United States, as well as an uptick in new condominiums that pushed down prices.

    Gosh, so sorry to see the NAR didn’t prevail in its fight to make it easier for foreign drug kingpins and money launderers to park their ill-gotten profits in Miami real estate.

    1. Yeah, the NYT doesn’t remember the money-laundering effort the feds started – in NYC? IIRC, it was a NYT article on shadowy LLC owners that kicked the whole thing off. It then was widened to Miami and later all across the country.

  8. ‘Landlords are going out of business and selling to corporate developers’

    Here’s this line a crap again. “Oh, the big bad corporations gonna vampire squid!”

    If they want to buy into this calamity, please do. Then we’ll laugh at you! But in reality it’s just another lame begging point. That we’ve seen it so often now shows the REIC is coordinating this BS.

    1. If they can get control of the rental market, they can squeeze the last drop of blood out of the turnips… the question is, will that be enough to sustain them. Turnips are looking pretty lean this year.

        1. I suspect there are other would-be turnip farmers that recently came into a huge amount of cash from somewhere, waiting in the wings to harvest those tender turnips, once their current squeezers have been forcefully liquidated by governmental decree.

          Some turnips are more equal than others.

  9. ‘So you’re going to see downward pressure on rents, and there’s a connection between rents and prices,’ Bonham said.

    Oh dear. But I fear this could signify a terminal downward spiral of sawin’ and slashin’ in rents and assessed property valuations, while mortgage and carrying costs on these vastly overpriced rental properties remain sky-high and deadbeat renters enjoy their landlords’ involuntary charity.

  10. Last night in Portlandia:

    “A group of protesters toppled statues of former presidents Theodore Roosevelt and Abraham Lincoln and shattered the entrance to the Oregon Historical Society in Portland’s South Park Blocks late Sunday before moving into other areas of downtown, smashing storefronts and engaging in other acts of destruction.

    Police declared the event a riot and ordered people rampaging through the city’s streets to disperse but did not directly intervene until nearly an hour after the first statue fell.”

    https://www.oregonlive.com/portland/2020/10/protesters-topple-portland-statues-of-theodore-roosevelt-abraham-lincoln-in-day-of-rage.html

    Imagine paying property taxes or sales taxes to a municipality where this happens without consequences. I never will.

    1. Yesterday I was talking with someone who mentioned a worker who got transferred to Portland. Said this guy got an apartment with 40% off the rent. How’s that 5% cap rate looking now?

      It’s probably been a year since I posted the article with a not even begun lux apartment there going into foreclosure. Remember the entire floors of lux apartments going STR? That was over a year ago.

      “Oh, rents are falling in San Fran!” says the clown click-baiters. Rents peaked there in 2016, and have been sinking like a turd in a well since. It’s was around 2018 when I found the SFC article with a Related exec saying every single residential RE project in downtown was for sale. That could only be because they knew they would lose money if they went ahead. The bubble had popped. One sentence. You only find gems like that through the hard work of reading hundreds of articles a week.

      1. It actually don’t sound that bad, if you’re 10 blocks or more from the hullabaloo. Portland is a pretty nice city, and it’s not like they’re burning residential buildings.

          1. They aren’t rioting all the time… nobody has that much energy. More importantly, they aren’t rioting at me.

        1. Once again, not giving the whole story. Yes, the idiotic nightly rioting is currently in a small part of portland. However, by letting them run wild in that area they are much more emboldened to go elsewhere and cause havoc – its just a matter of time. Plus the number of deranged homeless and drugged out antifa urchins everywhere in the metro area is undeniable, as is the graffiti and trash they create. Huge drag on businesses where they congregate too – why would any customer want to put up with that? They’ll just go to a store in the suburbs or order online. Victory for the scum.

          Those BLM, we believe in science and a hero lives here signs on the front lawns in Lake Oswego arent gonna cut it when the dregs decide to show up.

    2. “…former presidents Theodore Roosevelt and Abraham Lincoln…”

      They were white, so they must have been racis’

      1. The Cultural Marxists who control the curriculum in American universities are pushing the “All whites are racist” line for all they’re worth to the special snowflakes. We will see the results of their handiwork as these brainwashed new recruits flock to join globalist cats-paws like Antifa and BLM.

    3. Last night in Portlandia:

      I’m sure that a lot of people are deluding themselves into believing this mayhem will cease should Creepy Joe and Coma Sutra win the election. But as we already know Portland voters are poised to replace socialist Wheeler with an honest to goodness Communist. They’re planning on cranking this up, while the Dem leadership tells us that everything is fine.

      1. Creepy Joe, et al, are too far right for them.

        This may be the first election where I write in EVERY line item on the ballot.

    1. 10 years? But anyone can get a 3% down FHA loan, and many can get a 0% down loan. How long does it take to save $10K? Assuming you aren’t already buried in debt, in which case you have no business taking out a mortgage.

    2. From the link:
      “The national average down payment is about $62,000”
      It may be true but I find that hard to believe. I know a single person who put a down payment of more than 5%.

      Why would anyone even bother with a serious down payment when you can get zero or 3-5% down loans. Of course if we were requiring real down payments we wouldn’t be in this bubble in the first place but everyone reading this blog already knows that.

      1. You didn’t clip the entire quote.

        The $62k down payment is for the older demographic.

        Can you imagine paying $4000 a month for a house for 20 years and only netting $62k for a downpayment on your next house?

      2. Why would anyone even bother with a serious down payment when you can get zero or 3-5% down loans.

        A lower monthly payment.

    3. It’s a hypocrisy/doublethink on the part of the media. They use the old 20% down … when it’s convenient for them. That $62K average down payment includes trade-ups, and it wouldn’t surprise me if it included retirees buying condos outright, which skews the average massively upward. For first-time buyers it’s probably $15-20K, from mom and dad.

      Factoid: “In 2019, NAR found that the average down payment on a house or condo was just 12 percent. For first-time buyers, that number drops to six percent. And many people put down much less.”

      https://themortgagereports.com/60543/average-down-payment-on-a-house-and-low-down-payment-benefits

  11. A Judicial confirmation has now become Dem Senators grandstanding on Obamacare showing pictures of people who used Obamacare implying that a vote for Trump means no healthcare.
    So, the Commie Obamacare that shored up the gouging price fixing Medical Cartel, by a tax penalty if you don’t pay outrageous prices, based on your income is great stuff and we can’t do better.
    Firstly, the so called 20 million they said couldn’t afford health care where the reason 320 million were forced under Obamacare to pay gouging prices based on your income, with the IRS being the penalty agents if you don’t purchase price fixing monopoly health care .
    Wouldn’t It of been more simple to have a welfare program for the so called 20 million , rather thAn over charge 320 million. In fact prior to Obamacare the poor was taken care of by many different programs including Medicaid.
    Obamacare was a attempt to force price gouging by income for the medical and Pharma business.
    This was the Medical Cartel wanting to get about 13 thousand per head per year from 350 Americans , which
    is about 50 % .more than other European Countries.
    So, Obamacare was crashing under the weight of the gouging prices .

    1. Also, Trump has repeatedly said he wasn’t going to pass any replacement to Obamacare if it didn’t include preexisting covered.
      In spite of this the Dem Senators are suggesting that this Judicial appointment means a bunch of people die.

      1. He also said he was going to eliminate the trade and budget deficits, and force rich people like himself to pay more taxes. Before believing anything he says, better make sure he hasn’t said or done the exact opposite.

        1. The Bill that was put up included preexisting and it didn’t pass by one vote. Than Pelosi took back the House in 2018 , in part do to the Russian Hoax slander.

          So, nothing can be passed currently because Nancy Pelosi and the Dems won’t deal.
          Also, now its the new idea by Dems of Obamacare with a public option, or Medicare for all. The problem is Biden and Harris avoid talking about their policies right now . It’s all about Trump killed 200k people, Orange man Bad.

      1. Did you watch the…

        @Brittany3l
        Here is a video of what lead up to the Denver shooting:

        video in the

        Military Vet Shot Dead At ‘Patriot Rally’ in Front Of His Son by Leftist Hired by 9News Denver As ‘Security’

        article?

        1. This isn’t Palm Beach County (a very nice part of South Florida, I might add). This is Denver, he’s gonna walk, and when he does his GoFundMe account will probably have $5,000,000 waiting for him. There will be no justice for Lee Keltner, not in any Denver courtroom…

    1. Haven’t been able to find the story about what led up to this. Probably not a good idea to pepper spray a guy that has a bead on you already, whatever the leadup.

      1. The Southern Poverty Law Center is “what led up to this” along with Google, Facebook, Reddit and every article written and published by Real Journalists in the past five years.

          1. Scroll down past that and view the Lakers (I guess they must have won a trophy) unmasked super spreader event of all time outside (their arena?) which will sure to be the top story of every MSM real journalist evening news program tonight.

            Abigail Shrier
            @AbigailShrier
            ·
            13h
            This is the city that won’t allow my children to go to school—even distanced, with masks, desks cubicled with plexiglas.

          1. “That was not an interaction with the shooter. The shooter is off screen.”

            The man who was shot is arguing with the foul mouthed punk who is attempting to get one of these men to mace him

            “mace me mutha f@cka, I got the right to stand my ground” go ahead and f#ckin mace me”

            He was clearly instigating, them 35 seconds into the video the man who was killed walks quickly out of the frame to meet a man with a gun who knew he was up against a can of mace/ You can see the man fall after being shot in the head.

          2. I am not posting this stuff for shock value or, left vs. right or who is right and who is wrong.

            Really just so people know who and what is out there.

            “This isn’t Palm Beach County (a very nice part of South Florida, I might add). ”

            You are right it is and in 2006 I had a 50 year old drug dealing POS follow me walking about 1/4 of a mile back to the home I was renting in a pretty nice Jupiter neighborhood saying “what are you gonna do, hit me” after an argument between one of my daughters and his niece. You’ve met me and at that time I was 6 ft. 4 in. about 255 lbs a former full scholarship college football player and current construction worker being asked by an out of shape 5 ft. 6 in. no muscle fat druggie to hit him. I told him 20 times “just go home it’s over”.

            Big surprise I found out the next day he had a gun in his pocket and was planning on using the Florida Stand Your Ground Law.

          1. 3 short local news stories. The first one shines a wonderful light on the Denver Communist Party who attended as a counter protest to put on their soup drive (soup cans are as good as rocks) and of course knew nothing about the shooter and only promote peaceful protests.

            The second has a brief clip of Tucker Carlson’s guest and says the organizers of the conservative groups have had their social media accounts suspended by Facebook. Not the Denver Communist Party’s social who the murderer was there for mind you but the conservative group whose attendee was murdered.

            Deadly shooting at rally: What we know about the parties involved

            https://kdvr.com/news/local/deadly-shooting-at-rally-what-we-know-about-the-parties-involved/

        1. “This video gives a frame by frame break down towards the end (4:45).”

          Bingo

          Tucker Carlson had a witness who was there on his show last night. The witness said the shooter, the TV producer who employed him and the loud POS posted above followed these guys around, huddled. and then came up and started this confrontation.

    1. Wasn’t me, though I do plan to do some cold calling of loan-owners myself this week. 3 properties I’ve been watching, bought by small-time infestors, sitting there for 4-ish months bleeding cash. Not sure what they’re waiting for. Maybe me?

  12. The Globalist who own the fake news, who own the Dem Party, never liked Trump because he’s not a Globalist One World Order control freak.
    Rich One World Order Globalist and Commies running the Gov. Is not what the Founding Father’s set up with this Government.

  13. CORONAVIRUSFormer Australian Senator Claims “Great Reset” is Real Agenda Behind COVID Panic

    Davos billionaires want socialist ‘Green New Deal’ via the back door.

    Published 1 min ago on 13 October, 2020Paul Joseph Watson

    Former Australian Senator Cory Bernardi presented a piece for Sky News Australia in which he claimed that the agenda behind the COVID panic was for elite Davos billionaires to bring about a “great reset” that would see permanent social and economic changes.

    Noting that there is “something unusual about the continuing pandemic panic,” Bernardi cited medical experts who “now acknowledge that lockdowns don’t work” and asked viewers to “consider if there is another agenda at work.”

    Indeed, in a recent interview with the Spectator, the World Health Organization’s special envoy on COVID-19, Dr David Nabarro, called on world leaders to stop using lockdowns as their primary method of control because they were making “poor people an awful lot poorer.”

    https://summit.news/2020/10/13/former-australian-senator-claims-great-reset-is-real-agenda-behind-covid-panic/

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