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Rents Have Fallen Across The Board, And Landlords Are Reluctantly Accepting It

A report from the Wall Street Journal. “U.S. employees started heading back to the office in greater numbers after Labor Day but that pace is stalling now. The low level of employees at their desks is intensifying the pain for cities geared toward office life. Cities’ populations are falling. Apartment rents in downtown San Francisco have fallen 20% since their peak in March, according to CoStar Group Inc., as residents leave. Metro public-transportation systems in cities such as New York, San Francisco, Boston and Washington, D.C., have lost billions of dollars in revenue.”

“Values are falling sharply as a growing number of tenants dump sublease space on the market or demand lower rents from their landlords when their leases expire. Tenant searches for new office space have collapsed in once-hot markets. In San Francisco, this search activity in October stood at only 13% of what it was in January 2018, according to the VTS Office Demand Index. Bad loans are also higher. As of the beginning of November, 2.3% of office mortgages that were converted into mortgage-backed securities were more than 30 days delinquent, up from 1.7% in February, according to data firm Trepp LLC.”

The Real Deal on New York. “More than 200 renters have packed their bags and moved out of the tallest residential skyscraper in Manhattan this year. The New York by Gehry saw rental occupancy fall to 74 percent in September from 98 percent at the end of 2019, according to Trepp. The luxury apartments appealed to high earners in the Financial District. But since mid-March, the area has been almost a ghost town as employees work remotely. Only about 13 percent of New York workers are back in the office, and roughly 500,000 residents skipped town. No borough cleared out more than Manhattan.”

From SF Weekly in California. “People are leaving San Francisco. This flight has been observed in the many moving trucks criss-crossing the city. It has also been borne out in the falling median price of one- and two-bedroom apartments — both of which are going for 21 percent less than what they commanded a year ago. Now another metric underscores the trend.”

“According to United States Postal Service data obtained by Public Comment, change-of-address requests originating from San Francisco zip codes between March and November 2020 suggest that nearly 90,000 households have relocated outside of the city since COVID-19 swept into the United States. Over the past six months, the USPS received 124,131 requests, with just 28 percent listing new addresses in San Francisco.”

From Socket Site in California. “While the number of homes on the market in San Francisco has dropped 16 percent over the past two weeks with typical seasonality in play, inventory levels are now up over 130 percent on a year-over-year basis and climbing, versus 95 percent higher on a year-over-year basis when inventory levels peaked in the absolute last month, with 155 percent more condos on the market than at the same time last year and 75 percent more single-family homes.”

“And with the asking price for 29 percent of the single-family homes on the market having been reduced at least once and 42 percent of the condos, a little over 39 percent of all the homes on the market in San Francisco have been reduced, which is 7 percentage points higher than at the same time last year and the highest share of reduced listings since the fourth quarter of 2011.”

The Los Angeles Times in California. “Usually, high-end neighborhoods such as downtown L.A. and Santa Monica charge more per square foot. But during the pandemic, when businesses are closed and people are working at home, landlords are trimming prices. Zillow shows that in October 2020, 37% of rental listings in Los Angeles and Orange counties were offering at least one concession, or promotion, to attract renters to vacant units. This was more than twice as many as at the same time last year.”

“In L.A., 93.5% of the concessions included weeks or months of free rent. Others offered discounts on the deposit, free parking or gift cards. The effective savings over the life of a lease was 11.5%.”

From Business in Vancouver in Canada. “For decades, Vancouver had Canada’s highest rents and lowest vacancy rates, creating a multi-family mega-market that turned small landlords into paper millionaires and attracted some of the biggest players in the business. But the pandemic has hardened tenant-favouring legislation and honed thin margins in a city now characterized by soaring costs and restricted incomes.”

“With immigration to B.C. hitting negative levels – more people left the province for other regions than arrived in 2020’s first half for the first time in history – Vancouver rents are declining while insurance premiums for apartment buildings have increased an average of 75%, property taxes have soared and capitalization rates have flatlined in the sub-3% range.”

“It has also encouraged at least two of Vancouver’s largest longtime landlords to shove substantial portfolios onto the market, part of what Mark Goodman of Goodman Commercial Inc. in Vancouver calls an ‘avalanche’ of new listings. Goodman said that within a recent two-day period he heard from 12 apartment property owners who wanted to sell, and 11 of the buildings are in the city of Vancouver.”

From Biz News on South Africa. “Picking up a premium property for the proverbial song is the dream of most aspirant home buyers, one that has the best chance to be realised on Black Friday. With some luxury units in Africa’s wealthiest square mile attracting discounts of up to R500,000, sellers clearly are as keen as buyers to do a deal. Not all pundits agree with the practice of discounting real estate, not with decade-low interest rates in a competitively-valued property market, and arguing that these incentives tend to devalue the market.”

“Grant Smee, Only Realty managing director, doesn’t believe the industry should take part in Black Friday. The market currently offers the lowest prices and interest rates in decades, he says. ‘We are at risk of devaluing properties further. The industry should be focused on finding quality buyers and tenants for the properties on their books. In addition, it should negotiate deals in line with both sellers and buyers,’ says Smee.”

“Leadhome CEO Marcél du Toit hopes that this year will be as profitable as last year when several properties that were discounted up to 20%, were sold on Black Friday. Discounts vary and discounted properties will sell for that price within a period of one week, he says. ‘During Black Friday particularly, sellers are willing to drop their price in order to sell. They understand that there is a time value of money at play. Discounting enables them to sell quickly instead of incurring holding costs for months in order to get the eventual sale,’ he says.”

From Live Mint on India. “Real estate developers in the Mumbai Metropolitan Region (MMR) are offering 10-15% discounts on new launches, hinting at falling realty prices in some of India’s most expensive neighbourhoods. Developers are keen to reduce home inventory levels, which are at historically high levels, to increase cash flows during the pandemic, according to brokers and real estate consultants.”

“‘Developers are reducing prices dramatically and I have seen prices drop on new flats by almost 20%,’ said Vishal Kadrekar, proprietor of Fair Value Property, which operates in and around Parel, Prabhadevi, and Worli. ‘Prices have risen very high over the years in MMR. There are projects that were launched in 1-2 years ago that still haven’t been sold. A premium 3-bedroom home in an under-construction project in Lower Parel cost over ₹9 crore a few years ago; now it’s dropped to ₹7.25 crore levels. In another premium apartment next to ITC Grand Central, the price has fallen from ₹47,000 per sq. ft two years ago to ₹38-40,000 now.'”

“Unsold inventory across six top cities rose to more than 19 quarters at the end of the first six months of FY21, with MMR and Chennai reporting the most unsold stock, according to Liases Foras real estate market data.”

From Domain News in Australia. “Rental vacancy rates continued to climb in November in Sydney and Melbourne. Rising vacancy rates are not expected to blow out further as interstate borders re-open and former short-stay rentals that had been tipped into the private rental market return to holiday use. Vacancies are highest in the apartment-heavy major CBDs. Melbourne CBD’s vacancy rate was still at a sky-high 14.4 per cent last month, the highest in the country. It was followed by Stonnington West and East which include the ritzy suburbs of Toorak, South Yarra and Malvern and likewise saw a jump in vacancy rates to 8.7 per cent and 7.1 per cent, respectively.”

“The impact of the lockdown, particularly in Melbourne, has been significant in the inner city, where rents have fallen by as much as 40 per cent this year, Harcourts Melbourne City director Dionne Wilson said. Rents had fallen across the board, though it depended on the type of property and whether or not it was furnished, she said. ‘Landlords are reluctantly accepting it,’ Ms Wilson told Domain.”

The Australia Financial Review. “Melbourne’s vacant dwellings rose 13.3 per cent over the two years to 2019, according to water meter data that Prosper Australia Research Institute says shows Victoria’s Vacant Residential Land Tax is not working and should be strengthened. The latest report by the think tank, found 69,004 residential properties, or 4.1 per cent of the 1,669,151 in the Victorian capital using less than 50 litres per day – the equivalent of a dripping tap. As many as 24,042 properties, or 1.4 per cent of the total, used zero litres of water per day. On both counts – zero litres and up to 50 litres per day – vacancies were up from the last count.”

“Prosper director of research Karl Fitzgerald agreed that newly constructed dwellings could account for some of the vacancy but said they were not the main reason. ‘I still feel there’s a lot of speculative behaviour that goes on in the market,’ he said. ‘We do feel that’s the primary driver. Vacancies have increased by 13.3 per cent since the tax was introduced.'”

The South China Morning Post. “China’s state media urged authorities to take a hard look at the rental apartment industry after a liquidity crunch at New York-listed services provider Danke sparked an outcry from furious landlords and tenants across the country. Danke, officially known as Phoenix Tree Holding, rents flats from landlords on a long-term basis, refurbishes them and then leases them to tenants. In what looks like an apparent cash-flow failure in recent months, the company has missed payments to landlords, employees and contractors. Tenants across the country have been evicted, in some cases violently, by their landlords, with some yet to repay bank loans arranged by Danke.”

“Official media including People’s Daily and Xinhua urged Danke to take responsibility for its debt-fuelled expansion that eventually spiralled out of control after the Covid-19 pandemic. They also called for tougher regulation in the fast-growing US$264 billion industry, which has benefited from a government push to develop the rental housing market, China’s sky-high property prices and an inflow of young workforce into big cities.”

“Tenants and landlords should not be the ones paying for Danke’s failure, People’s Daily, the Communist Party’s mouthpiece, said in a post on its official Weibo account on Friday. The industry and regulators should reflect on the business model, which relied on leveraged expansion, it said.”

“Danke’s crisis has sparked several conflicts between landlords and tenants that have been widely circulated on Chinese social media. In one case, an enraged Shanghai landlord smashed the door of a flat as well as the ceramic sink and the shower in the bathroom, in an attempt to evict the tenant. Another desperate tenant, a young female worker in Beijing, also made headlines after she told reporters her plan to commit suicide because of the undue financial burden.”

“The company operated more than 415,000 flats in 13 cities as of March, according to its latest quarterly report. The company has not yet made a profit.”

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    1. The Mechanics Behind the Electronic Vote Steal Operation

      https://www.bitchute.com/video/OJrljwQFcIvc/

      https://twitter.com/tom2badcat/status/1325126091460268032

      https://archive.vn/KPwUa

      https://everylegalvote.com/country

      https://hereistheevidence.com/

      “Dominion-izing the Vote”

      https://www.bitchute.com/video/qlEUbPLvW98w/

      Eric Coomer Explains How To Alter Votes In The Dominion Voting System

      https://www.youtube.com/watch?v=UtB3tLaXLJE

      Eric Coomer, Dominion’s head of product and strategy, has disappeared.

      ‘Representatives from Dominion also did not attend a court hearing in Pennsylvania on November 19. Its US headquarters in Denver was also suddenly closed and moved away. Their employees deleted their names from LinkedIn.’

      https://www.youtube.com/watch?v=0oYQeeNCzZM

      https://www.theepochtimes.com/poll-watcher-describes-pennsylvania-election-irregularities-including-47-missing-usb-cards_3594549.html

      Here’s the testimony on video:

      “Baggies of USBs” – PA Witness Gives Explosive Testimony

      https://www.bitchute.com/video/AdaglXlcuqYt/

      Dem Ballot Inspector Says She Was Threatened with Violence for Speaking Up About Suspicious Activity

      “The majority inspector threatened to slap me in the face,” said Olivia Jane Winters, a registered Democrat and minority ballot inspector in Pennsylvania, testifying to Pennsylvania State Republicans Wednesday that she had been threatened and harassed by other election officials after she asked about suspicious activities during the 2020 election.’

      https://www.bitchute.com/video/_KrpyDlHTe8/

      Crowd Gasps after Finding out about Absurd Spike of Votes in Favor of Biden

      https://www.bitchute.com/video/jmNUAx8wQYdO/

      Sen. Doug Mastriano closing remarks PA state legislature meeting.

      https://www.youtube.com/watch?v=PIqujobvDFI

      https://censoredbyjack.com/channel/evidence-of-widespread-election-fraud

      https://www.deepcapture.com/2020/11/election-2020-was-rigged-the-evidence/

      ”We began to look and realized how easy it is to change votes.”

      ‘Election security expert @RussRamsland
      has performed many investigations on US election machines.’

      ‘The most *shocking* thing about this interview is it took place just days BEFORE the election. Watch’

      https://twitter.com/kylenabecker/status/1327511568993701888

      Col Phil Waldron Confirms Experts Witnessed Dominion Communicating with Frankfurt on Election Day

      https://www.bitchute.com/video/n7j5lg9fYyzz/

      1. ‘KRAKEN is DOD cyber warfare program.’

        ‘They cheated & got caught!’

        Sidney Powell
        🇺🇸
        ‘Who knew?’

        https://twitter.com/SidneyPowell1/status/1331435411286192128?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1331435411286192128%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fheadlines360.news%2F2020%2F11%2F24%2Fsidney-powells-kraken-is-department-of-defense-cyber-warfare-program%2F

        I did some digging around last night and found this (WARNING) PDF:

        https://www.dacis.com/budget/budget_pdf/FY20/RDTE/F/1203110F_294.pdf

        It’s dated Feb. 2019. If you word search Kraken (‘respond’ category), you’ll find it twice on page 4. This unit 305 person is in the affidavits in Powells lawsuit.

        WARNING PDF with filing:

        https://www.courtlistener.com/recap/gov.uscourts.mied.350905/gov.uscourts.mied.350905.1.15.pdf

        Zuckerberg on page 15. Obammie on page 8.

        1. A reader posted this:

          Oligarch tithing?

          https://www.breitbart.com/tag/center-for-technology-and-civic-life-ctcl/

          Blackwell: The Greatest Electoral Heist in American History

          About 73% Biden Vote Margin Gain in PA from Areas Given $18 Million by Zuckerberg-Funded ‘Safe Elections’ Project

          Zuckerberg-Funded ‘Safe Elections’ Project Announces Grants for Georgia Senate Runoff Elections

          Most of Biden’s 221,000 Vote Margin Gain in Georgia in 3 Counties that Received $15 Million from Zuckerberg-Funded ‘Safe Elections’ Project

        2. That last PDF is insane. I couldnt care less about housing prices at this point, this country and more broadly western civilization are at a crossroads and we’re going into civil war 2.0 or WW3 or both.

          1. his country and more broadly western civilization are at a crossroads and we’re going into civil war 2.0 or WW3 or both.

            In which case, the less vibrant your locale, the better. Though I expect leftists to flee the big cities as crime and lawlessness continue to rise, and inflict their mental cancer on their new communities.

          2. I expect leftists to flee the big cities as crime and lawlessness continue to rise, and inflict their mental cancer on their new communities.

            I thought being forced to flee would cure cancer…at least temporarily?

          3. They’re fleeing already, libs and conservatives alike. That might be the biggest effect of COVID: the population spreading out as they all collectively work from home.

          4. I thought being forced to flee would cure cancer…at least temporarily?

            I used to think that. Then I saw the locusts arrive, fleeing from sh!tholes of their own making, with their minds unchanged. I guess the trick now us to move somewhere they would never go (or at least shun for a long time), like North Dakota or Alabama.

          5. They’re fleeing already, libs and conservatives alike. That might be the biggest effect of COVID: the population spreading out as they all collectively work from home

            We’ve finalized our “fleeing” plans. Flight out of seatac later this month with all of our stuff following in moving trucks (including the wine — temperature-controlled transport!).

            Will work remotely from TN going forward, as long as our employers will let us.

            However, we’re moving to what we want our community to be like, and are excited to assimilate (and get away from the crazies here in Seattle)

          6. Congrats no moving to Tennessee. It seems to be quite the hopping place to go. I visited Nashville a year ago. The traffic was worse than DC.

          7. It seems to be quite the hopping place to go

            Yes, sadly it appears many are moving to that state. I suppose we’re part of the problem too! Hopefully it doesn’t quickly change from what is attractive to us about it…

            Regardless we’ll be on acreage away from big cities..at least that’s the plan. Still working out the minor detail of where exactly we’ll be living 🙂

          9. Then I saw the locusts arrive, fleeing from sh!tholes of their own making, with their minds unchanged.

            To me those people aren’t fleeing. They’re still trying to work the system. When they start showing up wounded with nothing but the clothes on their back, not wanting to talk about the ones that left with them but aren’t with them now, that’s fleeing.

          11. Carl, yup. They are fleeing from late-stage liberalism back to early-stage liberalism. Early-stage liberalism isn’t a bad place to be. But once it’s set up, it takes maintenance on the part of everybody to keep the level of producers high enough to manage the takers.* Once the number of takers crosses a threshold (~20%?), more and more has to be taken from the remaining producers to support the takers and maintain order. At that point the producers become resentful and either retreat to an untouched region, or vote for Trump.

            —————–
            *Takers = identity victims, obsolete or out-of-work laborers, single-parent families, layabouts, addicts, family hangers-on, career criminals, mentally unstable, and (unfortunately) the elderly.

          12. and (unfortunately) the elderly.

            I don’t think there has been an elderly in the history of my family that’s been a moocher on society.

            If you don’t count paid for pension benefits…

          13. elderly…

            By that I mostly mean people on Social Security. They may have been productive in the past, but strictly speaking, they are now living off the gov. As 73 million baby boomers retire, that becomes a taker issue simply because there are so many. And the “workers” who are supposed to be paying the taxes to support the retirees will either be illegal and paying few taxes, be working offshore, or will be automated away.

          14. I for one would be happy to been allowed to keep my social security taxes (including employer-side) over the last 30+ years of employment.

            And would be happy to trade my expected social security benefits for a tax-free lump sum payment of all social security taxes, adjusted for stock market returns.

          15. After doing the math, my expected social security ‘entitlement’ would equal about 0.5% per year of my expected earnings if I had been free to invest that money myself.

            I know that these days this seems like a large interest rate but I think I could do significantly better.

  2. ‘particularly in Melbourne, has been significant in the inner city, where rents have fallen by as much as 40 per cent this year’

    How do those 5% cap rates look now?

    ‘with the asking price for 29 percent of the single-family homes on the market having been reduced at least once and 42 percent of the condos, a little over 39 percent of all the homes on the market in San Francisco have been reduced, which is 7 percentage points higher than at the same time last year and the highest share of reduced listings since the fourth quarter of 2011’

    Eat yer crowz Thornberg.

  4. ‘For decades, Vancouver had Canada’s highest rents and lowest vacancy rates, creating a multi-family mega-market that turned small landlords into paper millionaires and attracted some of the biggest players in the business. But the pandemic has hardened tenant-favouring legislation and honed thin margins in a city now characterized by soaring costs and restricted incomes’

    ‘With immigration to B.C. hitting negative levels – more people left the province for other regions than arrived in 2020’s first half for the first time in history – Vancouver rents are declining while insurance premiums for apartment buildings have increased an average of 75%, property taxes have soared and capitalization rates have flatlined in the sub-3% range’

    OK, so rents soared for decades (supposedly) but cap rates went down into the 3’s. How could this happen? Suckers paid too much. I pointed this out in Portland Maine years ago. Rents went up 40% in something like 2 or 3 years, cap rates went down from 9% to 6%.

    1. a multi-family mega-market that turned small landlords into paper millionaires and attracted some of the biggest players in the business.

      Everybody is a “player,” everything’s a “bet,” etc. These central banks have turned the entire world into a speculative casino and Ponzi scheme that is now melting down, and instead of rethinking their outrageous policies, they are so brazen that they are tripling and quadrupling down on them. It’s almost unbelievable.

  6. ‘A new study from the University of California at Berkeley reveals six of the ten most segregated cities in the Bay Area are in Marin County. So, why would an area that prides itself on its progressive thought have such a lack of diversity?’

    ‘The study from the university’s Othering & Belonging Institute, analyzed 2010 census data and determined the towns of Ross, Belvedere, Sausalito, San Anselmo, Fairfax and Mill Valley are leaders in the Bay Area for lack of diversity.’

    ‘In Sausalito, less than 1 percent of residents are African American, even though it’s right next to Marin City, a predominantly black town. Community organizer Paul Austin said it goes back to post WWII when blacks were forbidden from buying or building homes.’

    “But I can’t say that currently it’s done intentionally,” Austin said. “It’s just that it’s been done for so long that how do you break into it? How do you desegregate some areas?”

    ‘But don’t people like being around people they identify with? Paul Austin admitted he might not want to move to a community that is all white. “That’s a good question, probably not,” he said. “I don’t know if I would want to be that “first” or “second”…right? But I would love to have that option.”

    https://www.msn.com/en-us/money/realestate/study-reveals-marin-county-is-home-to-6-of-10-most-segregated-bay-area-cities/ar-BB1bvDEG?ocid=hplocalnews

    Bay aryans.

    1. ‘A new study from the University of California at Berkeley reveals six of the ten most segregated cities in the Bay Area are in Marin County. So, why would an area that prides itself on its progressive thought have such a lack of diversity?’

      They just figured this out? LOLZ. This was apparent back in the 1980s.

      1. ‘said it goes back to post WWII when blacks were forbidden from buying or building homes’

        Goes way further back than that. Have you heard of the restrictive covenants in CA titles etc? Came from the California UHS. Yep, they lead the way in keeping undesirables from their neighborhoods. Also were fond of dark faced minstrel shows and the like.

        ‘admitted he might not want to move to a community that is all white’

        What a clown show California is.

    2. The Nasdaq is proposing boardroom diversity requirements. Firms that fail to meet them would be delisted.

      Perhaps Marin county could pass laws requiring that a certain percentage of its residents be minorities.

          2. I suppose that the dimwits who write articles like this one think that their iPhones just grew on trees or were designed by dullards.

          3. The article was long-winded and pretentious, and the comments were even worse. They were all hiding their real agenda behind a lot of ivory-tower words. Short version: “Bill Gates made his millions on luck, not talent or work, therefore merit doesn’t work. Why bother to reward talent or work. Let’s just redistribute equally to everyone.”

            Total BS, or course. The fact is that for every one lucky Bill Gates, there are a million middle-class workers out there who got educated,* are making a decent salary, and are living a good life — not much luck involved there. They don’t want their stuff being taken away. Thanks, I’ll stick to my meritocracy.

          4. They don’t want their stuff being taken away.

            According to the Davos crowd “You won’t own anything and you’ll be happy”, which sounds like Newspeak for “There will be widespread scarcity and you’ll be poor”

      1. HPE sold the Page Mill Rd HQ in Palo Alto last year. I think HP Inc. still owns its half of the site.

        Many years ago I attended a meeting at Page Mill Rd. During a break some of us went and looked at Dave Packard’s office, which at the time was more of a shrine than a working office.

  7. ‘69,004 residential properties, or 4.1 per cent of the 1,669,151 in the Victorian capital using less than 50 litres per day – the equivalent of a dripping tap. As many as 24,042 properties, or 1.4 per cent of the total, used zero litres of water per day’

    Seems kinda wasteful to me.

    1. From the article. So – is it foreign speculators? Is it unsold new condos? I would like to see a causal analysis in a few years – 2020 to 2022 might be the big tipping point.

      Melbourne’s vacant dwellings rose 13.3 per cent over the two years to 2019

  8. a couple of Canadian provinces have taxes for non resident owned housing – but a cross Canada tax might really tamper folks looking to speculate. But if it is caused by money laundering – i dont think that 1% tax on home value will deter this

    —
    “The government will take steps over the coming year to implement a national, tax-based measure targeting the unproductive use of domestic housing that is owned by non-resident, non-Canadians, which removes these assets from the domestic housing supply,” the update adds.

    1. How about the gobsmacking hypocrisy of the day?

      ‘Finance Minister Chrystia Freeland unveiled the tax targeting foreign speculators in the mini budget outlining her Liberal government’s economic recovery plan. The foreigner owner tax was part of Liberal Party’s federal election platform. “To limit the housing speculation that can drive up home prices, we will also put in place a consistent national tax on vacant residential properties owned by non-Canadians who don’t live in Canada,” Prime Minister Justin Trudeau’s party promised voters.’

      https://thinkpol.ca/2020/11/30/canada-to-tax-foreign-homeowners/

      Oh yes, the BC Liberals. Who for years put up howls of racism if anyone dared mention foreign buyers. All the while their major fund raiser was none other than REIC dog Bob Rennie, AKA the biggest asshole in Canada!

      A Long Rant About Bob Rennie : vancouver – Reddit
      https://www.reddit.com/r/vancouver/comments/…/a_long_rant_about_bob_rennie/

      May 16, 2016 – One year ago I was blood boiling angry with Vancouver “Condo King” Bob Rennie. I recall distinctly thinking “I want to … You’re just rambling about how people are misattributing the housing bubble as being the result of foreign investment and idolizing an asshole developer.

      Sep 13, 2017
      Brace for more housing shortages, warns Vancouver real estate guru

      torqcampbell on Twitter: “bob rennie: current title holder of the biggest …
      https://twitter.com/torquilcampbell/status/744880110449332224
      Jun 20, 2016 – … bob rennie: current title holder of the biggest asshole in canada

      ASKBiblitz on Twitter: “Crash! And take that asshole Bob Rennie with it …
      https://twitter.com/leobiblitz/status/613724921789743104

      And the “Winners” are … the Worst of Vancouver, 2015 | scamcouver
      https://scamcouver.blog/2015/09/…/and-the-winners-are-the-worst-of-vancouver-201…

      Sep 28, 2015 – BMW (possibly an M5, possibly belonging to Bob Rennie) … be an asshole.

      2013: The Scam Reviewed | scamcouver
      https://scamcouver.blog/2013/12/31/2013-the-scam-reviewed/

      Dec 31, 2013 – bob rennie is an asshole

      http://housingbubble.blog/?p=1393

  10. “It has also encouraged at least two of Vancouver’s largest longtime landlords to shove substantial portfolios onto the market, part of what Mark Goodman of Goodman Commercial Inc. in Vancouver calls an ‘avalanche’ of new listings. Goodman said that within a recent two-day period he heard from 12 apartment property owners who wanted to sell, and 11 of the buildings are in the city of Vancouver.”

    Don’t all rush for the exit door at the same time!

    1. Don’t all rush for the exit door at the same time!

      This reminds me of the evacuation drills we do at the office. We would take our sweet time and calmly mosey out of the building, then chat in the parking lot until the all clear is called and we can get back to work.

      Somehow, I suspect if we could smell smoke and realize it’s not a drill, there would be stampede, with people tripping and falling down the stairs.

  11. Who is taking the big losses on the shadow inventory? But glad to see that people are openly talking about it in the business press.

    —–
    We know what you’re thinking, “But isn’t that a little over one in 20 available units in the borough?” Don’t worry, our math isn’t (that) bad. The 20 percent figure that Malin estimates comes from a phenomenon called “shadow inventory.” This is both a very good name for an evil big box store as well as what it’s called when landlords don’t list all their available units.

    Back in April, the New York Post estimated the “shadow inventory” in the city could contain as many as 38,200 units. That number is surely higher now given the overall real estate trends of the last nine months. One thing that may keep prices high? The city’s shadow inventory isn’t expected to hit the market all at once.

    https://www.timeout.com/newyork/news/one-in-five-manhattan-apartments-may-now-be-vacant-112520?fbclid=IwAR1KHMUthv2qClNgYMgyIyogUpt7QiStrXTyr20wanrBRKxgbPCleSrvH6c

  12. Insider trading to the 10th power:

    Top ECB Official Privately Called Investors, Banks After Key Policy Decisions

    FRANKFURT—The European Central Bank’s chief economist made dozens of private calls to banks and investors after policy meetings this year, an unusual attempt to buttress the central bank’s sometimes-puzzling public communications, according to three people with whom he spoke and a review of his schedule.

    The calls began in March, after ECB President Christine Lagarde flummoxed traders by suggesting at a news conference that the central bank wouldn’t prop up Italy’s bond market. Italian stocks and bonds slumped. Hours later, Philip Lane, the chief economist, placed separate calls to 11 banks and investors in which he sought to clarify the message.

    Former central bank officials said the calls risked privileging big investors with sensitive information. Typically, central bankers carefully control their utterances and try to make sure all market participants get information at the same time.

    The spokesman said Ms. Lagarde declined to comment.

    https://www.wsj.com/articles/top-ecb-official-privately-called-investors-banks-after-key-policy-decisions-11606832650?mod=newsviewer_click

    1. Over 40% of post-op trannies end their lives in suicide.

      And thousands of years from now, when some future anthropologist exhumes them, their skeleton will be recognizable as unmistakably male.

      Playing dress up is all fun and games (whatever happened to the HBB’s resident Lola?) but expecting other people to take your LARP seriously is too much.

      Get therapy.

      1. Over 40% of post-op trannies end their lives in suicide.

        It’s because it’s mental illness. Thinking you’re a different gender than you really are is a sign you desperately need professional help. It’s no different than a schizophrenic who’s very ill. They need help. In the case of schizophrenia, you don’t go along with their paranoid delusions and lend support to them, you try to help them recognize they are not based in reality.

        Yet, we have a bunch of freaks in the media, Hollyweird, big tech and the government telling us we need to support these trannies’ delusions. And if a psychiatrist dare go against that…well…CANCELED.

        1. Get therapy.

          We try to be more civil than 4chan here. Go be gay because NOBODY CARES, but if you need to project your LARP onto the public, get therapy. And stay away from children.

      2. This is a female–> male transition. And the person still looks female.

        btw, my pronouns are she/him/its and they must to be used in proper grammar and not mix/matched. Otherwise, you’re cancelled. 🤨

      1. No, they can double-think it.* In fact, “Elliot” said he/she was proud to be trans and gay. So she changed from being a straight female attracted to men, to a gay man attracted to men. Which makes me question whether there was any change at all.

        2. straight female attracted to men

          S/he came out as a lesbian in 2014 and is married to a woman.

      2. Having transgender self-identification issues (gender dysphoria) will prevent you from becoming an Airline Transport Pilot, e.g., the ATP certification, which is controlled by the FAA, a federal government agency.

        1. If the suicide rate is any indication, I can see why. It’s one thing to end it all, it’s quite another to take a planeload down with you. One of those was bad enough.

          1. “If the suicide rate is any indication, I can see why.”

            So we *can* discriminate under certain circumstances.

          2. So we *can* discriminate under certain circumstances.

            If it appears that People Who Matter could be negatively affected then it becomes an emergency and we can do what must be done. Otherwise no.

    1. All of the fraud is out there for the entire world to see, yet the powers that be choose to just gaslight the general public as they proceed forth with the election coup.

      1. “The media is the enemy of the American people” — DJT

        Stop giving them money. ANY money.

        Use ad-block on PC and phone browsers, if you use YouTube watch in a browser (with ad-block) not in the app. Use archive or a similar site to browse corporate media, this way the main site only loads once, copy and paste the links you want to read into archive.

        I’m not stopping reading or viewing your content, I’m just stopping you from making even a fraction of a cent of ad revenue from me.

        P.S. yes our esteemed blog host subscribes to paid content to give us our daily crater, but the rest of us don’t need to.

    2. ‘A mathematician who offered the results of his investigation regarding allegations of voter fraud in front of members of the Arizona State Legislature said that he’s been suspended from Twitter. “Just got suspended OFF TWITTER AGAIN…. Guess I’m no longer welcomed there anymore,” Bobby Piton wrote on social media website Parler.’

      ‘Piton, at the event on Monday, stated that based on his analysis, “I would have never certified” the election results in some battleground states. “I’d rather resign than certify those results,” he said, adding, “I believe they’re fraudulent … assuming that the data that I got is accurate.”

      ‘It appears that Twitter suspended the account following Piton’s remarks at the event, according to users.’ Arizona Gov. Doug Ducey, who was criticized by Maricopa County GOP Chairwoman Linda Brickman in Monday’s event for allegedly being “bought and paid for,” issued a statement after the event.’

      ‘Also in the hearing, several people testified, including a cybersecurity expert and retired Army colonel, who asserted that Dominion Voting Systems machines—of which some were used in Arizona’s Maricopa County—said that a user guide shows users how to connect to the Internet. Dominion has denied that its machines can connect to the Internet, while its CEO dismissed vote-switching or foreign influence in a recent opinion piece.’

      “The Dominion suite user manual is about an inch and a half thick. My team went back through the user manual and looked at all the instances where in the user’s manual, it tells operators to connect the ethernet cords to the router, and it is, the systems are connected to the internet,” said Phil Waldron, the cybersecurity expert, in front of members of the Arizona Legislature.’

      ‘Meanwhile, a woman who said she was an observer in Pima County claimed to have witnessed a large number of people who had recently moved to the state vote. Many of them, she alleged, didn’t even have Arizona drivers’ licenses or IDs and instead presented bills that suggested they lived in the precinct.’

      “I was having to allow people to vote who literally had just moved here. A large percentage had addresses from two apartment complexes,” poll observer Anna Orth said, adding that many were not “residents for more than a month,” which, if true, would be a violation of state law.’

      https://www.theepochtimes.com/mathematician-who-claimed-voter-fraud-to-arizona-legislature-suspended-from-twitter_3600283.html

      Ducey is a crook. BTW, this Waldron fellow showed that not only were these computers hooked up to the internet, which Dominion keeps saying couldn’t happen, the systems were crawling with hackers election night. Much like the affidavits the 305th guys have sworn too.

  16. I knew this guy was a deep state swamp creature. I mentioned it months ago. Trump should fire his asz TODAY:

    Attorney General William Barr said Tuesday the Justice Department has not uncovered evidence of widespread voter fraud that would change the outcome of the 2020 presidential election.

    Barr: No evidence of fraud that’d change election outcome

    https://kstp.com/politics/attorney-general-william-barr-no-evidence-of-fraud-thatd-change-election-outcome/5938986/

          1. violence in the streets
            If that bullet isn’t bitten now, there will be even more such violence than there has been so far this year.

          2. We’ll be getting more, one way or another. The next time a cop shoots a black dude, regardless of circumstances, the blm’ing will resume in full force, while the PTB try to gaslight us and tell us everything is fine. A lot of people voted for pedoman hoping that his coronation would make the mayhem stop. They are going to be very disappointed.

          3. Would you like even more violence in the streets?

            Feels to me like we’re rapidly approaching the point where it doesn’t matter what anyone “likes”. We’ll get whatever we get based on which color pill we choose no matter what we like.

    3. Fake news.

      https://twitter.com/CBS_Herridge/status/1333937356185997312:
      #Election2020results From a DOJ spokesperson: “Some media outlets have incorrectly reported that the Department has concluded its investigation of election fraud and announced an affirmative finding of no fraud in the election. That is not what the Associated Press reported nor what the Attorney General stated. The Department will continue to receive and vigorously pursue all specific and credible allegations of fraud as expeditiously as possible.” @ClareHymes22
      @CBSNews

  17. Trump needs to fire Barr right now, today. Trump is steering this vessel in what amounts to stormy seas in the middle of two hurricanes converging. There is no time for inaction. It’s time for the nuclear option. He needs to use every power he has.

  18. I remember a long time ago I heard Bush Senior taking about a One World Order. He never went into details, so you thought he must be talking about the goal of World Peace, or something like that.
    So, it’s amazing how many people end up being enemies of the State in the final analysis.So, William Barr, who knows. Is everybody a plant against Trump?

    1. “So, William Barr, who knows. Is everybody a plant against Trump?”

      Looking at what Barr actually said, I would have to say the BIG MSM headlines are a spin job.

      “To date, we have not seen” and “so far, we haven’t seen anything to substantiate that” doesn’t sound like they are done looking, in fact it sounds very much like it is an ongoing process.

      Damn sure doesn’t sound like the headline that was posted above…

      “Barr: No evidence of fraud that’d change election outcome”

      Here are Barr’s actual quotes…

      “To date, we have not seen fraud on a scale that could have affected a different outcome in the election,” Barr said.

      “There’s been one assertion that would be systemic fraud and that would be the claim that machines were programmed essentially to skew the election results. And the DHS and DOJ have looked into that, and so far, we haven’t seen anything to substantiate that,” Barr said.

      1. Zuckerberg’s Ballot Harvesting was happening in the cold light of day; no sneaking around. Voter Fraud, on the other hand, requires collusion, which is a serious crime, which would require a sizeable reward for each participant to offset the risk; too difficult to manage.

      2. Looking at what Barr actually said, I would have to say the BIG MSM headlines are a spin job.

        I’m going to go ahead and believe what Trump and his attorneys posted yesterday, rather than some weaseling by Barr and his clan to try to walk back his words. Bottom line, he needs to shut up.

  19. ‘Phill Kline, the director of the legal group Thomas More Society’s Amistad Project, has claimed that as many as 280,000 ballots were transported from New York to Lancaster, Pennsylvania, where the ballots “disappeared.”

    Kline, a former district attorney and Kansas attorney general, said he received evidence that between “130,000 to 280,000 completed ballots for the 2020 general election were shipped from Bethpage, New York, to Lancaster, Pennsylvania, where those ballots and the trailer in which they were shipped disappeared” on Oct. 21. Kline cited the statements from a USPS subcontractor that he described as a whistleblower.’

    ‘Kline also asserted in a news release that USPS workers engaged in “widespread illegal efforts” to influence the election. At least one of the whistleblowers said that they transported thousands of prefilled ballots across state lines, which, if true, would be a federal crime.’

    ‘The whistleblower, Jesse Morgan, a truck driver for a subcontractor with the USPS, said at the news conference that he was driving a truck filled with potentially upward of 288,000 ballots on Oct. 21, according to Just The News. The truck—and ballots—disappeared from a parked location in Lancaster at a USPS depot after he dropped it there, he said.’

    ‘Morgan added that USPS personnel exhibited “odd behaviors” that “grossly deviate[d] from normal procedure and behavior” on that day. The driver said he was transporting completed mail-in ballots with addresses in Harrisburg but he had to deliver his ballots to Lancaster, which he felt was unusual. That was before the trailer “disappeared,” in Morgan’s words.’

    ‘Another USPS whistleblower, Ethan Pease of Madison, Wisconsin, said in the Tuesday news conference that he works as a USPS subcontractor and alleged that he was told the postal service was planning to backdate tens of thousands of mail-in ballots before the Nov. 3 election. Pease and Kline asserted that it was a bid to circumvent the submission deadline for ballots.’

    ‘In the news release, the Amistad Project stated it obtained sworn testimony that suggests “over 300,000 ballots are at issue in Arizona, 548,000 in Michigan, 204,000 in Georgia, and over 121,000 in Pennsylvania.”

    https://www.theepochtimes.com/up-to-280000-ballots-disappeared-after-being-transported-from-ny-to-pennsylvania-amistad-project-director_3600718.html

      1. “AZ State Rep. at Election Hearing: “We’re Going to Fight; I Will Not Let this Country Go Down”

        Good to hear because out in the real world I am running into more apathy than I would care to,

  21. #Resist

    Redondo Beach Restaurant Owner Chooses to Stay Open, Defy Outdoor Dining Ban (12/01/20):

    https://www.nbclosangeles.com/news/local/redondo-beach-restaurant-owner-chooses-to-stay-open-defy-outdoor-dining-ban/2473495/

    Note to HBB’ers: make your URL’s as generic as possible. Trim off the junk at the end of it. Anything in the URL string beyond where it ends in “.html” or a date or number string is information that doesn’t need to be shared.

    Let’s stop giving them money, let’s really try.

    1. When a link loads from another site, there is often a string of junk tied to the end of the URL. Trim it down, reload to make sure it loads (using an archive or similar site), then share the link.

      Being lazy gives them money.

      Let’s stop giving them money.

  22. Lockdown lovers hate America.

    They live on their couch, pretending to “work from home” and hate anybody who goes outside. They hate fresh air. They hate sunlight. They hate exercise. They hate nutrition.

    They hate small business, they hate people trying.

    The closest contact any of these people have had with a non-white person is when their DoorDash driver left their groceries outside their door for the fifth time this week.

    History has always had a way of taking care of this degenerate parasite class. Let’s get it over with quickly this time.

    1. True, that health care director for LA looks like she died 5 years ago. Neck like a pencil. Maybe related to Schiff? Mayor of Chicago looks like she got hit by a bus. The rest are jabba the hut types, scary. The deranged trannies are all on the left and love shutting down society. And masks? its a good way to cover up the ugly!

        1. The first time I saw a video of the woman I couldn’t believe that she is the mayor. Are Chicagoans really that brain dead? Or is it just institutional voter fraud, so that when the machine decided that she was the candidate, it was over.

  24. https://www.nature.com/articles/s41586-020-2818-3

    A separate study (COVID-19 Host Genetics Initiative)2 comprising 3,199 hospitalized patients with coronavirus disease 2019 (COVID-19) and control individuals showed that this cluster is the major genetic risk factor for severe symptoms after SARS-CoV-2 infection and hospitalization. Here we show that the risk is conferred by a genomic segment of around 50 kilobases in size that is inherited from Neanderthals and is carried by around 50% of people in south Asia and around 16% of people in Europe.

  28. This is a bedwetting article.

    Washington Post — Someone’s going to get killed: GOP election official in Georgia blames President Trump for fostering violent threats (12/01/20):

    “A top Republican election official in Georgia lashed out at President Trump during a news conference Tuesday in Atlanta, blaming him for a flood of threats that have besieged his office and calling on the president and other Republicans to condemn the behavior.

    Gabriel Sterling, a voting systems manager for Secretary of State Brad Raffensperger, was visibly angry and shaken as he approached a lectern in the Georgia Capitol.

    “When the president called Brad Raffensperger, who is a fine, upstanding, lifelong Republican, an ‘enemy of the people,’ that helped open the floodgates to this kind of crap,” Sterling said. “It takes people who are already spun up. . . . There are some nut balls out there.”

    http://archive.is/LDUYr

    The Washington Post (owned by Amazon CEO Jeff Bezos) is the enemy of the people.

    1. Meanwhile, BLM and Antifa have actually committed all sorts of violence, and the “Real Journalists” gaslight us while inventing imaginary threats from the right.

  29. The Hill — Economy faces new COVID-19 dangers (12/02/20):

    “Economic experts are increasingly worried about the possibility of a double-dip recession, a scenario that would make the first months of [REDACTED: the Associate Press does not decide elections]’s time in the White House even tougher.

    Mark Zandi, chief economist at Moody’s Analytics, said there are already signs of the economy “throttling back” — and that he expects to see more such evidence when the latest monthly job numbers are released on Friday by the Bureau of Labor Statistics.

    The unemployment rate in October was 6.9 percent. This was far below the pandemic peak of 14.7 percent in April, but it was almost twice as high as the 3.5 percent unemployment rate in February, before the pandemic hit with full force.”

    https://thehill.com/homenews/the-memo/528274-the-memo-economy-faces-new-covid-19-dangers

    The rest of the article is the same stale, predictable #Narrative of gibs, includes a CCP Flu national lockdown teaser, and omits any mention of jobs, employment, small business.

  30. This is a bedwetting article.

    Linked from The Atlantic’s home page and titled “Go Home Now” (12/01/20):

    http://archive.is/bcV8q

    No excerpt provided with this post, but if you click on the link (archive site used to deny page loads and ad revenue), look at the soy face of the article’s author.

    Who does Mr. Thompson NOT want to “go home now?”

    His Uber Eats driver. His InstaCart grocery shopper. His Amazon warehouse worker. The electrical linemen and water treatment plant employees that make his soy life possible.

    Click on his soy bio and we are told “Derek Thompson is a staff writer at The Atlantic, where he writes about economics, labor markets, and the media.”

    Economics and labor markets? Within the article subtitle is the admonition “It’s time to hibernate.”

    Must be nice knowing that you’re better than everyone else.

  32. It literally never ends.

    “Trans men, trans women and non-binary individuals may choose to breastfeed or chestfeed their babies,” they write. “You do not need to have given birth to breastfeed or chestfeed, as we can also see in the experiences of those nursing adopted babies.”

    LLLGB uses the term “chestfeed” to acknowledge those who have undergone transition and prefer not to use the word “breast.” They also advise those determined to chestfeed on how to “stimulate their milk supply” via hormones.

    https://nypost.com/2020/12/01/breastfeeding-group-attacked-for-including-trans-women/

    At the height of Imperial Rome, people probably thought that their civilization would endure too.

    We’re almost there.

    1. Reminds me of the movie Cabaret, and the degeneracy and debauchery that actually helped the Nazi’s gain support and rise to power. Had Germany been in a good place instead of being overrun with Marxists and perverts, Hitler would have been a mere footnote in history.

      1. “Had Germany been in a good place instead of being overrun with Marxists and perverts, Hitler would have been a mere footnote in history.”

        Reparations in the Treaty of Versailles “shoe-horned” Hitler and set the European stage for WWII.

    2. This one has me puzzled. How do you chestfeed if you’ve essentially had a double mastectomy or you have fake boobs? Are hormones sufficient? Have surgeons gotten that good?

      1. It’s a #Narrative.

        Erase gender. Erase biology. Erase the nuclear family.

        This is how civilizations DIE.

        1. This is how civilizations DIE.

          I wonder how will it end? A civil war? A foreign invasion? Or will it be a steady slide into oblivion?

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