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As Loans Get More Delinquent, That’s When The Real Costs Come Into Play

A report from the South Florida Business Journal. “The Related Group proposed a 37-story apartment building with no on-site parking in downtown Miami. There’s an over-supply of condos on the market in downtown Miami and condo sales have slowed during the Covid-19 pandemic, so building apartments is an easier avenue to pursue right now.”

From Your Observer in Florida. “Overall, Longboat Key property values have decreased for the first time since 2013. Using Realtors Property Resource data from June 30, John Tuccillo, an economic and real estate expert, found Longboat Key’s market had a decline in median list prices (-8.54%) and median sales prices (-22.9%) during the last quarter.”

From Yahoo Finance. “It wasn’t the coronavirus pandemic that fueled the flight to the suburbs, according to one expert, but it sure helped. ‘So the trend had started actually before the pandemic, and it has certainly accelerated as a result,’ Byron Carlock, the real estate leader at PwC, told Yahoo Finance. ‘It looks like in New York City, about 5,000 households a week have been vacating since July 1, and that’s largely millennials that have decided to move to the suburbs for more space. So the urban exodus appears to be real.'”

The Real Deal on New York. “Not even Stephen Ross can avoid price chopping in this market. The Related Companies boss and Miami Dolphins co-owner cut the asking price for his Time Warner Center penthouse to $62.5 million — a 17 percent discount from the original $75 million price tag. Spanning 8,274 square feet atop the Related-developed condo tower, Ross’ unit is now priced at $7,553 per square foot, putting it at the upper end of the struggling luxury market.”

“Luxury sales saw a 46.7 percent year-over-year drop in the third quarter, according to Miller Samuel. The average listing discount was 12.1 percent. Last month, for instance, a penthouse at Related’s Zaha Hadid-designed condo overlooking the High Line went into contract for $24.975 million. That was down from an initial price of $50 million. Four other units at the property, at 520 West 28th Street, have gone into contract since March with an average discount of 29 percent, according to Olshan Realty.”

From Reason Magazine. “The country’s priciest cities are seeing massive declines in rents. San Francisco has also seen the largest price declines. Rents for studio apartments there have declined by 31 percent year over year there, according to a new report from Realtor.com. Rents for one- and two-bedroom units declined by 24 percent and 20 percent respectively. Nearby San Mateo and Santa Clara counties have seen price declines of 12 percent for one-bedroom units, and around 10 percent for two-bedroom ones.”

“It’s not just California, either. Other dense urban areas have seen steep price declines as well. King County, Washington (which contains Seattle) has seen rents fall 12 percent for studios and 10 percent for one-bedroom units. In Manhattan, rents have declined by 15 percent for studios and 10 percent for one-bedroom apartments. Washington, D.C., and Boston both also report double-digit rent drops.”

“The trend, if not the individual figures, matches reports from other listing websites. A recent report from Apartment List found median rents had declined 20 percent year over year in San Francisco, 12 percent in New York City, and 9 percent in Seattle.”

The Dallas Business Journal in Texas. “Despite the rising cost of lumber and other building materials, new home prices fell last month in North Texas, while home sales and pending sales rose. New home prices, based on a 12-month moving average, dropped for September in Dallas-Fort Worth to $369,416 versus $369,986 in August, according to a report from Dallas-based HomesUSA.com. DFW new home prices have moved lower since February, when the average new home cost $374,788.”

“Sales prices as a percent of their list prices remained relatively unchanged again last month, based on a 12-month moving average. In DFW, it was 97.993 percent in September versus 97.948 percent in August. Elsewhere in Texas, average new home prices also dropped last month in Houston, going to $347,868 versus $348,047 in August. The average price increased slightly in San Antonio last month, hitting $298,396 versus $297,654 in August.”

The Los Angeles Times in California. “Southern California home sales and prices surged in September, the latest evidence of a hot housing market during the COVID-19 pandemic. Because the median is the point at which half the homes sold for more and half for less, it reflects a change in individual home values as well as the types of homes sold at any given moment.”

“So one thing that has made the median price rise so much, analysts say, is that members of higher-income households have been less likely to have lost their jobs in the pandemic, leading a greater share of home sales to be in the luxury segment now than at the same time last year. The California Assn. of Realtors predicts less price growth in 2021. ‘The uncertainty about the pandemic, sluggish economic growth, a [potential] rise in foreclosures, and the volatility of the stock market are all unknown factors that could keep prices in check,’ Leslie Appleton-Young, the association’s chief economist, said in a statement.”

From Mansion Global on California. “The big-ticket single-family home market across Los Angeles’s Downtown and Westside, areas that encompass ultra-high-end neighborhoods such as Bel Air, Pacific Palisades and Beverly Hills, recorded a banner third quarter characterized by jumping prices and soaring sales, according to a report Thursday from Douglas Elliman. Bolstering demand are a number of factors, according to Stephen Kotler, CEO of Douglas Elliman’s Western Region.”

“At the high end in particular, opportunistic buying is supporting transaction levels, as are big-name buyers, according to Mr. Kotler. ‘A lot of the sales that we have seen in the Westside are people in entertainment that are trading up,’ especially, he said, now that pricing has become more realistic.”

From DS News. “In estimating how much distress the COVID-19 crisis has brought upon homeowners, the Mortgage Banker’s Association (MBA) determined, via its Research Institute for Housing America (RIHA), that some 6 million households missed rent or mortgage payments in September. ‘In September, 8.5% of renters (2.82 million households) missed, delayed, or made a reduced payment, while 7.1% (3.37 million homeowners) missed their mortgage payment,’ MBA reported.”

“Some experts predict that the worst might not be over. ‘Rent and mortgage payment collections improved over the summer as more people went back to work, but high unemployment continues to place hardships on millions of U.S. households. There is growing concern that absent a slowdown in the number of coronavirus cases and another round of much-needed federal aid, millions of households in the coming months face the prospect of falling further behind,’ said Gary V. Engelhardt, Professor of Economics in the Maxwell School of Citizenship and Public Affairs at Syracuse University.”

“The tens of millions of student debt borrowers behind on their payments also has future ramifications for the housing and mortgage markets. Borrowers ending up in default would see an adverse effect on their credit, in turn making it potentially more challenging for them to rent or qualify for a mortgage.”

From Housing Wire. “At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that mortgage rates could rise in the year to come, but that they will remain near all-time lows. Fratantoni pointed out that the job losses seen in 2020 have been unprecedented, even when compared to the Great Recession.”

“‘Yes, it’s come down to 10 million, but look at how that compares again to the peak in 2009 of 6.6 million,’ he said. ‘This has just been a tremendous negative shock for the economy as a whole.'”

“‘This distress is not going away soon’ Fratantoni said. ‘Many of these folks who thought they were on a temporary furlough are now reporting they have a permanent job loss. Many of the employers they thought they were returning to have gone bankrupt, and the longer this crisis lasts, the longer the restrictions are in place, and again, the public health demands that some of these restrictions remain in place, but the economic cost is real.'”

“On the servicing side of the business, elevated borrower delinquency rates – particularly for FHA borrowers – remain a concern. Top of mind for servicers will be pursuing the most appropriate loss mitigation strategies for post-forbearance borrowers and investors. ‘Servicers will remain busy in 2021 helping borrowers exit mortgage forbearance and into longer-term solutions,’ said MBA Vice President of Industry Analysis Marina Walsh. ‘This will likely result in the operational need for additional loss mitigation personnel and increased servicing costs.'”

“Walsh said that as more loans fall into the seriously delinquent bucket, servicer costs could rise. ‘Based on the data that we have now, productivity is actually continuing to increase, but that’s only for through the first half of 2020,’ she said. ‘Same thing happened for those of you that were around in 2009, whereby we had very high delinquencies and our costs hadn’t quite caught up yet and as loans get more delinquent and are seriously delinquent, that’s when the real costs start to really come into play.'”

“‘We do expect in 2021 that as these loans are in the seriously delinquent stage, especially for servicers with large FHA pool — FHA loans as a percentage of their overall volume — we would expect to see the servicing costs go up and productivity drop and continued hiring of loss mitigation specialists,’ Walsh said.”

From Bankrate. “The federal regulator who oversees mortgage giants Fannie Mae and Freddie Mac has compromised on a widely pilloried fee on mortgage refinances, but he’s not backing down. Mark Calabria, director of the Federal Housing Finance Agency, said the 0.5 percent fee on refinances, set to take effect Dec. 1, is crucial to shoring up nation’s mortgage market. Without the fee, Calabria said, Fannie and Freddie — which back about two-thirds of U.S. mortgages — could collapse in a housing crisis.”

“‘It is critical to remember that this fee covers losses that are the result of policies that have helped millions of Americans stay safe in their homes during a global pandemic,’ Calabria told the Mortgage Bankers Association’s virtual conference.”

“The Federal Housing Finance Agency roiled the housing industry in August, when it announced the surprise fee would take effect Sept. 1. After an outcry from Realtors, mortgage bankers and housing economists, the agency backed off a bit — it delayed the fee until Dec. 1, and it said the surcharge wouldn’t be due on loans of less than $125,000.'”

“Calabria said in August that defaults and the generous mortgage relief extended to borrowers during the coronavirus pandemic would cost Fannie and Freddie $6 billion — a rounding error for two enterprises with a combined $5.7 trillion in their loan portfolios. But Calabria offered little else in defense of the fee. During prepared remarks Monday, he laid out a detailed case.”

“‘When I walked in the door at FHFA, Fannie and Freddie were leveraged about 1,000 to 1,’ Calabria said. ‘If the enterprises had still been leveraged 1,000 to 1, they would have already failed in response to COVID. On the other hand, if Fannie and Freddie had more capital when COVID hit, they would have been able to provide even more support.'”

“‘Fannie and Freddie’s combined leverage ratio is now down to roughly 250 to 1,’ Calabria said. ‘This is certainly better than 1,000 to 1. But it is not close to safety and soundness. In their current condition, Fannie and Freddie will fail in a serious housing downturn.'”

This Post Has 88 Comments
  1. ‘elevated borrower delinquency rates – particularly for FHA borrowers – remain a concern. Top of mind for servicers will be pursuing the most appropriate loss mitigation strategies for post-forbearance borrowers and investors. ‘Servicers will remain busy in 2021 helping borrowers exit mortgage forbearance and into longer-term solutions…This will likely result in the operational need for additional loss mitigation personnel and increased servicing costs…This will likely result in the operational need for additional loss mitigation personnel and increased servicing costs’

    Operational need for additional loss mitigation personnel is people like me to tell you to GTFO and pack up all yer junk and haul it to the dump.

    This is how dishonest the REIC is. I’ve been telling readers about the surge in foreclosure biz hiring, and more pours in every day. These bashtards are gearing up to slam the door on weak minded fools who are buying into this crap. And all the while they sing their song about how virtuous they are and “helping” people. Not to mention rubbing their greedy paws about all the no-risk booty they are stuffing in their pockets.

  2. ‘Fannie and Freddie’s combined leverage ratio is now down to roughly 250 to 1’

    Do you know what a banks allowed leverage is? 12 to 1.

      1. Does all that leverage come with an implicit guarantee that the Fed will do all within its power to support housing prices at a level that prevents another GSE implosion, as occurred in September 2008?

    1. Their forecasts have always been a joke, more times than not, the market moves opposite. So much for the fall they were predicting. I see no reason to indicate prices will rise MORE next year than this year, interest rates aren’t likely to drop further, forbearances are likely to run out, the employment situation will get worse, etc…

      That said, I do expect prices to continue to increase in most areas, but at a slower pace than this year.

      1. That said, I do expect prices to continue to increase in most areas, but at a slower pace than this year.

        Based upon what?

  3. ‘new home prices fell last month in North Texas, while home sales and pending sales rose. New home prices, based on a 12-month moving average, dropped for September in Dallas-Fort Worth to $369,416 versus $369,986 in August, according to a report from Dallas-based HomesUSA.com. DFW new home prices have moved lower since February, when the average new home cost $374,788’

    But UHS say double digit Alice! in every city and burb?

  4. ‘The uncertainty about the pandemic, sluggish economic growth, a [potential] rise in foreclosures, and the volatility of the stock market are all unknown factors that could keep prices in check,’ Leslie Appleton-Young’

    Foreclosures?

    ‘characterized by jumping prices and soaring sales…’At the high end in particular, opportunistic buying is supporting transaction levels…‘A lot of the sales that we have seen in the Westside are people in entertainment that are trading up,’ especially, he said, now that pricing has become more realistic’

    Jumping prices doesn’t jive with more realistic Steve. Somebody is a lion.

    1. ‘ a [potential] rise in foreclosures’

      I wonder if Leslie added the [ ] or the LA Times did. The foreclosures are baked in the cake.

  5. ‘Longboat Key’s market had a decline in median list prices (-8.54%) and median sales prices (-22.9%) during the last quarter’

    Good thing everybody put 20% down.

  6. “‘Yes, it’s come down to 10 million, but look at how that compares again to the peak in 2009 of 6.6 million,’ he said. ‘This has just been a tremendous negative shock for the economy as a whole.’”

    Is this a lot?

    “‘Fannie and Freddie’s combined leverage ratio is now down to roughly 250 to 1,’ Calabria said. ‘This is certainly better than 1,000 to 1. But it is not close to safety and soundness. In their current condition, Fannie and Freddie will fail in a serious housing downturn.’”

    Is this a lot too?

  7. My Landlord [of a single-family ranch home in NJ, rent $2,700] has asked us to stay forever. I will try to negotiate that in the future he cuts the lawn [100′ x 150′] as my wife may not be able to continue cutting it at 72 much longer. She [widow] owns the house her son lives in, so we decided to rent when we were married 10 years ago. Best decision I made since I said “I Do” – which has been The Super Best decision of my life actually!

    1. Note: We looked all over at condos and houses but even with the talk of “Wasting $ on Rent” from people felt it was the best decision then and NOW.

      1. I have so much money left after “throwing money away on rent” every month that I don’t know where to throw it.

  8. “The new 0.5 percent fee is paid not by borrowers but by lenders. Mortgage lenders have responded by slightly raising rates on refinances.”

    So the borrowers are paying for this [indirectly].

    Just like tax increases on businesses

  9. ‘Yes, it’s come down to 10 million, but look at how that compares again to the peak in 2009 of 6.6 million’

    ‘Same thing happened for those of you that were around in 2009, whereby we had very high delinquencies and our costs hadn’t quite caught up yet and as loans get more delinquent and are seriously delinquent, that’s when the real costs start to really come into play’

    What happened in 2009?

  10. The globalists are going all out in the final stretch.

    https://www.cnn.com/2020/10/22/economy/economists-oppose-trump-election/index.html

    One of my favorite lines:

    citing what they describe as a “sustained assault” on democracy

    That’s right, folks. If you don’t vote for the anarcho-tyrannists who want to hand over our nation to the Davos crowd while they allow Marxist mobs to burn it down, then you’re against democracy!

    I never would have thought that Orwell would be so on the money with his predictions.

    1. Giving clicks and ad revenue to CNN isn’t helping. When you use archive dot is links it deprives Real Journalists of revenue. We want these people to get laid off and be forced to get a real job, not to make money from links posted on the HBB.

      And on the subject of Real Journalists, this tweeted earlier today from National Public Radio regarding Hunter Biden’s laptop:

      “We don’t want to waste our time on stories that are not really stories, and we don’t want to waste the listeners’ and readers’ time on stories that are just pure distractions”

      This is a man in his late 40s who does Facetime video chats while naked and smoking crack, with his 14 year old niece, the daughter of his dead brother, who’s widow he was also screwing.

      Expect alot of muted mic time tonight if DJT tries to talk about it.

      1. I’ve heard it suggested DJT should bring a bullhorn. Tonight’s debate should be 🔥💥🔥💥🔥💥.

        1. Yes, thee 🍊.Jesus should bring his bully.horn!

          📢 “225,086+ thousand dead Americans from the Still.Spreading! deeth.👾” (& gettin’ woeser & woeser bye thee day!)

          📣 “Trade.War$ are ea$y!” x53+ Billion$ gifted.ebt.welfare.aid to farmers” (mostly in $outhern.$tates, Thank$ $onny!)

          📢 “FoxCONn is going to hire 30,000+ high paying Wisconsin job$!”
          ( 4 years from this boa$t, 183 workers sitting on the forklifts watching Netflix on duty!)

          Go Iowa & South & North Dakota & Wisconsin!

          Prognosi$:
          Hospital$ Across the U.S. Are Crammed With Covid-19 Patients

          Bloomberg / By Elise Young / October 21, 2020

          Across the country, 37 states are reporting increased hospitalizations, including 21 states that have recently reported new records or are approaching previous highs, according to Johns Hopkins University data. While the trend is national, the hardest-hit region is the Midwest, according to the university.

          Iowa reports record high COVID-19 deaths and hospitalization rates, additional 1,276 confirmed COVID-19 cases

          CECELIA HANLEY | DES MOINES REGISTER | October 21, 2020

          🎉👏 … 🎃

          1. Nope, truth & 🍷

            You, please stay a 🍊.Jesus “True.Believer” apostle & vote twice, he’ll need it.

          2. Idiotic and irrational to assert that President Trump caused COVID19 deaths. You just have TDS.

          3. “President Trump caused COVID19 deaths.”

            FAKE ASSertion!
            HOAX ASSertion!

            You, = Ru$$ian troll delivering “In$ertion$”, & as your preferred modu$.Operandi, via your mo$t delightful angle of intru$ion, Anal.$atisfaction, all about YOU! … You Go gryl!

            🍷🎃

    2. This is a man in his late 40s who does Facetime video chats while naked and smoking crack, with his 14 year old niece, the daughter of his dead brother, who’s widow he was also screwing.

      Wait, WHAT?!

      1. It’s on the laptop. It’s in the emails. It’s in the chat logs. It’s in the screenshots. And the FBI has known about it since 2019.

  11. This is off-topic, but with all of the fake news and lies proliferating in the media, not only recently but over the course of the past decade+, and the massive corruption which appears to be systemic throughout our entire government including the justice dept., I’ve started questioning what’s really going on behind the scenes.

    I came across this short video and this guy talking about Jeffrey Epstein. It’s quite interesting and highlights how the entire situation makes no sense, that there’s a massive cover-up of sorts.

    This guy points out that from just a financial standpoint, Epstein’s lifestyle does not add up. His described worth is in the hundreds of millions, yet he was a private school teacher. Sure, he supposedly he ran a hedge fund handling billions, but there’s no paper trail of that. Nobody knows anybody who was trading through his firm. And his much bandied about net worth, while sizable, doesn’t lend itself to private jets, private islands, etc.

    This reminds me a lot of the Vegas massacre and Stephen Paddock. More questions than answers and zero explanation of where these peoples’ money came from. Both are seemingly being covered up by the government(s).

    https://www.youtube.com/watch?v=84zJ9ahJ-qU

  12. “It looks like in New York City, about 5,000 households a week have been vacating since July 1, and that’s largely millennials that have decided to move to the suburbs for more space. So the urban exodus appears to be real.”

    Are we really sure this unusual? Maybe a little more than average, but not much. NY is a big city — 3.2 million housing units in 2019 — and people tend to come here with nothing, get something, and leave.

    I think two factors are at play.

    First, people have stopped coming TO New York City due to the lack of jobs and economic uncertainty. Give how much apartments used to cost here, I can’t imagine moving here from somewhere else without a job, or friends or family who could put you up.

    Second, some of the older suburbanites who had been holding out for high prices in the suburbs, or not planning to move at all, might be out of the way due to COVID-19. The number of deaths as a percent of the population is actually higher in some of the suburbs, where the population was older, than in NYC.

  13. There is a Denver sales tax increase prop on the ballot, and its alleged purposed is to raise $40M a year to “fight climate change”.

    I’ll bet Dumver voters will approve the rate increase (0.25%) thinking that they’re saving the world, while all that will happen is that a new bureaucracy will be created in city hall.

    1. ” …all that will happen is that a new bureaucracy will be created in city hall.”

      Thee more > bureaucracy … thee more > neo.quasi.$ocalist.Munchin’$.monie$ yer city will get! … More.free.$tuff! … Throw a parade & rejoice! 🎆🎇🎉

    2. NYC had a 1/8 sales tax increase “for mass transit.” Other transit funding was cut, the future sales tax was bonded against and all spent years ago.

      Then a 1/4 percent payroll tax was added “for mass transit.” The future bond revenues of that one were bonded against and spent too.

      The MTA is bonding against a congestion charge for driving into Manhattan that hasn’t even been approved yet.

      NYC had an 18 percent property tax increase “for the schools.” The state subsequently passed a pension increase to allow teachers to retire at age 55 after 25 years of work instead of the 62/30 they had been promised.

      Etc. Etc. Etc.

      No one outside NY has any right to complain compared with us. Believe me. Colorado’s tax burden is, if anything, too low to keep the place going. We have paid, and paid, and paid.

      1. Colorado’s tax burden is, if anything, too low to keep the place going.

        We’re doing just fine. Thank goodness for TABOR.

  14. ‘Big Guy’ in China Deal Email Was Joe Biden, Former Hunter Biden Partner Says

    October 22, 2020

    “What I am outlining is fact. I know it is fact because I lived it,” Bobulinski wrote to The Epoch Times from the same email address as the one listed in the May 13, 2017, email.’

    ‘Bobulinski said he released the statement due to the dispute over whether the emails are real and the insinuations of foreign involvement.’

    “The facts set forth below are true and accurate; they are not any form of domestic or foreign disinformation,” Bobulinski said about his statement, a full version of which appears at the bottom of this article. “Any suggestion to the contrary is false and offensive. I am the recipient of the email published seven days ago by the New York Post which showed a copy to Hunter Biden and Rob Walker. That email is genuine.”

    “Given my long standing service and devotion to this great country, I could no longer allow my family’s name to be associated or tied to Russian disinformation or implied lies and false narratives dominating the media right now,” he added.’

    “Hunter Biden called his dad ‘the Big Guy’ or ‘my Chairman,’ and frequently referenced asking him for his sign-off or advice on various potential deals that we were discussing,” Bobulinski said.’

    “I’ve seen Vice President Biden saying he never talked to Hunter about his business. I’ve seen firsthand that that’s not true, because it wasn’t just Hunter’s business, they said they were putting the Biden family name and its legacy on the line.”

    ‘In a separate alleged email Biden sent to Hong Kong financier Dong Gongwen on Aug. 2, 2017, Biden reveals that he previously had a three-year agreement with CEFC that would pay him $10 million per year “for introductions alone.”

    https://www.theepochtimes.com/former-biden-associate-says-big-guy-in-china-deal-was-joe-biden_3548940.html?utm_source=news&utm_medium=email&utm_campaign=breaking-2020-10-22-2

    1. Why are immediate family members of a US Senator and former vice-president soliciting bribes from sworn enemies of the US?

      DonK.

        1. thee.🍊 .Jesus said that joey.Biden from Scranton, PA was a “pillow & sheet $alesman”, collecting monie$ from Czar.Putain, replacing all thee Moscow.Teen.Miss.America conte$tants that he had pee on his Per$onal.$uite.bed$!

          dtRumpsis, actually might bee on a truth.path!

  15. @MGSpiffy – Potential job opportunity in Seattle. Any insight re: public or private schools for autistic students needing a special day class along with speech, OT and APE services? Any insight re: ABA, speech and OT services outside of school?

    1. Marketwatch is a joke. If you try to post anything honest, you get this:

      Unfortunately, you are unable to take part in this conversation right now as your comments have been blocked too many times.

      And Yahoo took away comments completely, replaced with this:

      Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting.

      In my opinion the latter was because of all the pro-Trump comments outweighing the globalists’ troll armies.

      1. I got almost the same thing from Marketwatch too. The media suppression and cancel culture has gone so overboard that even idiots are catching on. Twitter — and now NPR??!? — suppressing the laptop story really probably woke up the rest of the sleepers. I don’t think this will cause anyone to switch from a Biden vote to a Trump vote, but it might convince some Biden voters to stay home (or fail to mail).

    1. ‘He can’t get a security clearance with these details. No use making him President’

      The entire establishment is busy sweeping everything under the rug for Creepy China Joe. If somebody somehow is able to actually ask The Sniffer a question about the corruption, Diaper Pants just turns like a wooden figure and is whisked away by his handlers, never answering a thing.

      1. It’s entirely possible that the Dems will allow Biden to be impeached and removed if that puts Harris in office.

        1. ” … if that puts Harris in office. ”

          Awe.pshawe, quit with yer faux.New$ machinations, faux New$ has professional’$ with far better fake.hoax narrative$, iffin’s yer adDICTed to fal$e narrative$, buy $tawke$ or over.priced.$helter.$hacks, you’ll feel better & relaxed knowing how $mart you.i$! 🍷🎃

    2. Neither Hillary nor Ozero should have been granted clearances, thereby disqualifying them from their jobs, but the corrupt agencies looked the other way. Probably part of why clearance investigations were moved to the office of personnel management, away from the tough old guard and into the hands of marxist bureaucrats happy to lick jack boots.

      Five Finger Death Punch recently came out with a song/video on the libtard induced madness of our times: https://www.youtube.com/watch?v=eOkkWIOkWl8

      1. “Probably part of why clearance investigations were moved to the office of personnel management…”

        Everything was going toward DoD the last I heard. Too many flaky diversity approvals, less than 680 FICOs, etc., were happening in places like nuclear power, National Critical Infrastructure, etc., across the country. Title VII changes likely responsible for this nonsense.

  16. (This article is about a week old. I will supply some snips but I suggest you lazy pukes jump on the link and read the whole thang.)

    Rantz: At least 118 Seattle police officers left department in mass exodus
    https://mynorthwest.com/2236407/rantz-seattle-police-exodus/?

    (snip)

    At least 118 Seattle police officers separated from the department, the Jason Rantz Show on KTTH has confirmed. In September alone, 39 officers left the force when the typical number for that month is between 5 and 7. Even new recruits are leaving.

    There are now only about 1,200 officers in service for the entire city, the lowest it’s been in two decades. And even this number is misleading. Many officers are using their accrued sick time as they begin their escape to other agencies or wait for retirement.

    The City of Seattle unveiled this officer separation data on Friday morning.

    At the same time, a developing and alarming side note: the Seattle Police Department withheld staffing numbers, ignoring a public disclosure request. Indeed, the SPD claimed a staffing issue was to blame. But that doesn’t appear to be true.

    At least 118 officers have separated from the force in 2020, with the bulk leaving after the Seattle City Council embraced radical activists pushing to defund the police. Separations are all-inclusive, including resignations (including lateral-moves to other agencies) and retirements.

    While council members either stayed quiet as criminal activists attempted to murder police or defended death threats, officers gave their notice. Some went to other departments, others retired. The downward trend is expected to continue.

    (snip)

    Things are worse than they seem

    With just about 1,200 officers in service, Seattle is staffed at lower levels than they were in 1990. The population has increased by 44% since then. And crime is surging, with a reportedly 60% year-over-year increase in homicides.

    The mayor’s office believes the number of deployable staff could drop to 1,072 officers if the trends and hiring freeze continues, along with the council’s vote to fire 70 officers.

    But these numbers don’t tell the whole picture. Sources reveal that many officers are using sick time at higher than normal rates. Many of them are looking for other jobs in different agencies. When they leave, some officers fear the separations could hit 200.

    1. Maybe some people prefer “stumbling, stammering” truths compared to the outright fabrications made by the orange-haired one. Just a thought.

  17. “This guy is an absolute imbecile!”

    Thee.🍊jesus, ❄💩🐖, yer hero 🙈🙉🙊🎉👏👏👏

    1. Democracy is based on Majority rule.
      Currently you have promotion of minority rule being Fat Cat Globalist and Commies and minorities.

      So the majority is looted for the benefit of the these groups .
      Not only are these ideas absurd, they are promoted by Globalist fake news, and the education system was hijacked by Commie brainwashers.
      And Biden in summary said he wants to get rid of gas and oil by 2025, He is going to add a Public health option, which will destroy the entire health care system.
      How they are getting USA Citizens to vote against their own interest by fake news,etc, shows you they think people are stupid and brainwashed.

      1. Democracy is based on Majority rule.
        Currently you have promotion of minority rule being Fat Cat Globalist and Commies and minorities.

        Actually I think they are trying to take advantage of the flaw in democracy and get 50%+1 of the votes by hook or by crook and force their will on everyone else that way. They know in a rule of law republic with functioning checks and balances they will never get what they want.

  18. Bloomberg tells us Americans are “frantically buying military gear” because “conflict is on America’s streets.” Far be it from me to challenge the globalist propaganda line, but it looks to me like Les Deplorables, who have been subjected to endless violent assaults by the DNC’s unhinged leftist auxiliaries, aren’t about to go quietly into that Long Goodnight the globalists have in store for them. Comrade Pelosi has already called Trump supporters “Enemies of the State” – given the collectivist track record in dealing with such “enemies,” maybe some of the kulaks are seeing to their own self-defense.

    https://www.bloomberg.com/news/articles/2020-10-23/americans-are-frantically-buying-military-gear-before-election?srnd=premium&sref=ibr3A0ff

    Conflict is on America’s streets in 2020, and “tactical apparel” has become a lifestyle industry serving militarized law-enforcement agents and the freelance gunmen who emulate them. Less than two weeks before Election Day, orders are rolling in.

    Since last year, online purchases have driven a 20-fold jump in sales of goods like the $220 CM-6M gas mask — resistant to bean-bag rounds — for Mira Safety of Austin, Texas.

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