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You Will Take Much Less In A Few Months

A report from Mortgage News Daily. “Black Knight says condos have seen a large increase in availability. This is especially apparent in some of those very cities, such as San Francisco, that homeowners are leaving in droves. While delinquencies spiked among all housing types in the spring, the gain among condos was more pronounced than for single-family units and the company says the migration away from city centers and the increased inventory of condos and townhomes was probably responsible. However, the delinquency rate for condos is still much lower (4.7 percent in October) than for single families at 6.81 percent. Two-to-four units properties have the highest rate at 9.06 percent, most likely because homeowners are having difficulties with financially distressed tenants.”

From DS News. “Foreclosure moratoria and forbearance programs eventually will come to an end, which could result in a foreclosure surge, say sources at Redfin. The Redfin study showed that 3.8% of homeowners nationwide fear foreclosure whereas some 13.5 % are delinquent on mortgage payments.”

“‘In my experience selling foreclosed properties, some people don’t take advantage of forbearance because they aren’t educated on what it entails,’ said Redfin agent Gina Sapnar. ‘There are people who are in forbearance who don’t understand how repayment works. For some people payments are tacked on to the end of the loan, but for others it may be a large payment due immediately at the end of forbearance as a lump sum, which could be very tough for people to repay. Some homeowners are underwater because they took on more debt than they could handle. I know of a restaurant owner who took equity out of his home to pay his workers during the pandemic. There are people suffering who have depleted their entire life savings, are drowning in debt and they aren’t paying their mortgages. But even those people have options.'”

From Housing Wire. “Mr. Cooper, the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 million to settle a lawsuit claiming it violated the rights of over 115,000 customers, some of whom it had illegally foreclosed on. When Mr. Cooper – then known as Nationstar – bought thousands of mortgages through MSR bulk purchases, it frequently failed to identify loans with existing modifications, according to the lawsuit, which was filed by the Consumer Financial Protection Bureau.”

“Mr. Cooper services over 3 million mortgages in the U.S., with a total of over $500 billion in unpaid balance.”

The Real Deal on New York. “If you think the interest charges on your loans are bad, try racking up fees of $17,000 per day. That’s what developer Levi Balkany of Happy Living Development is facing after allegedly defaulting on a $26 million loan for a 46-unit condo building in Harlem. An entity associated with lender Arena Investors filed a motion in New York State Supreme Court last week calling for summary judgment against Balkany, who personally guaranteed the loan last year.”

“According to court records, the lender issued the $26 million loan to refinance an existing construction loan and finish work on the project at 308-310 West 133rd Street. A short time later, the developer defaulted and ‘refused to make the required payments,’ per the lawsuit. The lender is now calling for all principal, interest and fees owed under the loan to be paid back, totaling $35.7 million, with interest accruing at a rate of $17,333 per day.”

“Balkany contacted Don Moses, Arena’s managing director of real estate, about renting the units in the building, but the lender refused. ‘If you let me rent it and get the tax abatement, we can be in a much better position to sell,’ Balkany wrote in an email to Moses. ‘Don’t you understand an empty building is a disaster?'”

“While many lenders have been working with distressed developers over the past year, some are now taking a more hard-line stance as talks break down. In the past month, mezzanine lenders on Wonder Works’ Vitre condo on the Upper East Side and on four of HFZ’s Manhattan condos have commenced UCC foreclosure proceedings, with both developers condemning the actions as predatory ploys to take over their buildings.”

“‘I am trying everything and anything,’ Balkany said in his email to Moses. ‘I went to a bunch of bunch of veterans in the business who told me to wait and you will take much less in a few months. Basically no one is writing me a check.'”

From CNBC on New York. “The seller of a luxury condo apartment on Manhattan’s Billionaires’ Row took a loss of at least $12 million to offload the property, according to public filings. The 4,500-square-foot condo at 157 W. 57th St., or One57, went into contract last week after being listed for $22.5 million, according the Olshan Luxury Market Report, which tracks Manhattan sales contracts. The purchase price is unknown, and brokers declined to comment on price or the identity of the buyers or sellers.”

“The apartment was purchased by the seller in 2014, at the peak of the Manhattan real estate craze, for $34 million. Assuming that it sold for below the listing price — which is likely in the current market — the seller took a loss of about $12 million or more. ‘This is the best buyer’s market I’ve seen,’ said broker Ryan Serhant, who advised the buyers. ‘The smart purchasers are taking advantage.'”

“Even before the pandemic, One57’s fortunes were turning. An even taller condo tower was rising next door and there was a glut of new condo apartments in midtown. State and local tax changes in 2017 made things even worse. Resale prices at One57 began to slide. Then came the coronavirus pandemic, and New York City residents moved to the suburbs. Apartment sales in Manhattan fell 46% in the third quarter, with average prices dropping anywhere between 5% and 10%.”

“An apartment on the 88th floor sold in May for $28 million, which was $19 million less than the seller paid in 2014.”

From Socket Site in California. “Measuring nearly 2,700 square feet, the three-bedroom unit #32B near the top of the Lumina tower at 201 Folsom Street was priced by the sale office at $5.385 million in mid-2017 and ended up selling for $5.25 million in August of 2018. The ‘premier’ unit returned to the market this past May priced at $5.595 million. Reduced to $5.395 million in July, dropped to $4.7999 million in September and then further reduced to $4.4999 million in October, the resale of 201 Folsom Street #32B now closed escrow with a contract price of $4.2 million or roughly $1,565 per square foot.”

“The unit’s HOA dues, which include valet parking in the building’s garage, are currently running $1,461 per month. And while $1,565 per square foot certainly isn’t ‘cheap,’ it was 20 percent cheaper on an apples-to-apples basis than in August of 2018 (while the index for Bay Area condo values is only down 2.7 percent over the same period of time and ‘median sale prices’ are up).”

From WAMU on Washington DC. “The prices for rental apartments are falling in nearly every corner of the city. The drop is driven primarily by price reductions in ‘Class A’ apartments — newly-built units that have more luxurious amenities: Think buildings like The Apollo on H St. NE, or The Hepburn in Kalorama. As of October, the average rent for apartments like these dropped from $2,669 to $2,387 per month. Certain neighborhoods have seen striking drops in Class A rental prices, according to Delta Associates.”

“Shaw, for example, has seen an average 16.2% drop in rental prices, while neighboring Dupont and Logan Circle saw a roughly 10.6% drop. The Southwest Waterfront and Navy Yard neighborhoods have also been particularly affected, with 12.8% and 11.9% drops, respectively. The vacancy rate in Southwest, for example, is near 12%, while Capitol Riverfront/Navy Yard is about 9%, per Delta Associates. (One exception is Shaw –– even though it has seen a staggering 16.2% drop in rent prices, it has a vacancy rate of only 5.7%, which is higher than the city’s average but lower than many other neighborhoods.)”

“‘In most of the neighborhoods that we track, rents are down in the double digits,’ says William Rich, president of Delta Associates, which surveyed a sample of 37,000 Class A apartments in the third quarter of 2020. ‘There are a few exceptions — upper Northwest, for example, rents there decreased [by 3.6%]. Also, in the Northeast, part of the District’s rents decreased by 8.8%, which is still a significant decrease, but not as significant as we found in other submarkets.'”

“Stephanie Bastek, an organizer with tenant advocacy group Stomp Out Slumlords, says organizers have frequently come across buildings whose managers are offering one to three months’ worth of free rent to new tenants without offering any rent forgiveness to current residents, many of whom are struggling to pay in the face of pandemic-related job instability. ‘Thus far the effect on current tenants is mostly to enrage them,’ Bastek says, ‘not offer less rent at all.'”

From Hawaii News Now. “The median price of a single-family on Oahu rose in November as prospective homebuyers offered over asking price in nearly half of transactions. ‘They’re not buying toilet paper anymore, they’re buying houses,’ said Hazel Unciano, a Locations real estate broker.”

“Eathan Ozawa with Better Homes and Gardens Real Estate Advantage Realty said the entire year has been unpredictable and he’s unsure what 2021 will bring. ‘You would think it would drop the market, but it didn’t,’ Ozawa said. ‘If renters aren’t able to pay their rent, and landlords aren’t able to make their mortgage payments, how is all that going to unfold when the moratorium is done?'”

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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 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.

        ‘Response: Yes, our “White Hat” hackers – they have that traffic and the packets.”

        https://twitter.com/themodalice/status/1333505965857984512

        ‘Ruby Freeman Makes Video of herself Showing MOUNTAINS of GA ABSENTEE BALLOTS With NO RETURN ADDRESS’

        https://www.youtube.com/watch?v=HFYaxvxdfXY&feature=youtu.be

        Example

        Note the vote spike at the Atlanta treason:

        https://twitter.com/EricTrump/status/1334812236322381826/

        Corrupt Georgia Election Worker Seen Loading Same Ballots 3 Times into Machine

        Poll Worker Ruby Freeman Loads Up The Same Stack Of Ballots To Be Counted 3X

        https://www.youtube.com/watch?v=RiREC3Zy20E

        Ruby Freeman – “I need an attorney”

        “This is bigger than me. I need an attorney.” at 4:55.

        https://www.youtube.com/watch?v=xsU-CXcJ4Lg

        1. ‘The state of Texas on Tuesday filed an election lawsuit in the U.S. Supreme Court against Pennsylvania, Georgia, Michigan, and Wisconsin, alleging that the states unconstitutionally changed election laws, treated voters unequally, and triggered significant voting irregularities by relaxing ballot-integrity measures.’

          “Plaintiff State respectfully submits that the foregoing types of electoral irregularities exceed the hanging-chad saga of the 2000 election in their degree of departure from both state and federal law,” the Supreme Court motion (pdf) states. “Moreover, these flaws cumulatively preclude knowing who legitimately won the 2020 election and threaten to cloud all future elections.”

          ‘The lawsuit seeks a determination by the court that the four battleground states conducted the 2020 election in violation of the Constitution. Texas is asking the Supreme Court to prohibit the counting of the Electoral College votes cast by the four states. For the states which have already appointed electors, the lawsuit asks the court to direct the state legislatures to appoint new electors in line with the Constitution.’

          ‘Texas Attorney General Ken Paxton filed the challenge on the day of the so-called safe-harbor deadline. The cumulative electoral votes in the four states are enough to determine the outcome of the 2020 election.’

          “Trust in the integrity of our election processes is sacrosanct and binds our citizenry and the States in this Union together. Georgia, Michigan, Pennsylvania, and Wisconsin destroyed that trust and compromised the security and integrity of the 2020 election,” Paxton said in a statement.’

          “The states violated statutes enacted by their duly elected legislatures, thereby violating the Constitution. By ignoring both state and federal law, these states have not only tainted the integrity of their own citizens’ vote, but of Texas and every other state that held lawful elections,” he added. “Their failure to abide by the rule of law casts a dark shadow of doubt over the outcome of the entire election. We now ask that the Supreme Court step in to correct this egregious error.”

          https://www.theepochtimes.com/texas-files-supreme-court-election-lawsuit-against-four-battleground-states_3609460.html

          I listened to the court case yesterday, it was the first I’ve sat in on. The judge had already made up his mind and didn’t address the evidence at all. It was all jurisdiction mumbo-jumbo. We can cut to the chase:

          https://www.westword.com/news/dominion-voting-systems-fraud-donald-trump-lauren-boebert-snl-dominos-11856647

          ‘Since the election, Dominion Voting Systems — a privately owned American company whose systems are used in jurisdictions in 28 states across the country, including over sixty counties in Colorado — has been responding to the rumors with a “Setting the Record Straight” page on its website. What started as one paragraph — which addressed misinformation about Sharpie pens in Arizona — has turned into a 1,007-word statement discussing eleven different accusations about the company. It was last updated on December 3, to deny a rumor that votes are counted by a server in Germany.’

          ‘Numerous Dominion employees have removed their profiles from LinkedIn. And on November 20, Secretary of State Jena Griswold temporarily removed a Dominion document from her office’s website; it was reposted the next day, with personal information regarding Dominion personnel redacted.’

          ‘But Colorado officials stand by the security of Dominion’s system. Machines are not actually connected to the Internet, they point out’

          ‘But that isn’t all that’s disappearing. According to data from the Internet Archive, Dominion has been cleaning up other parts of its site recently, removing a brochure showing a diagram of its ImageCast Evolution system and a PDF related to Dominion’s Internet voting technology. The fact that Dominion’s Democracy Suite 5.5 hardware could be connected to the Internet was one reason that voting examiners recommended that Texas not adopt Dominion systems in 2019.’

          ‘In the City and County of Denver, the risk-limiting audit process, as well as other safeguards — including a 24-hour live stream of the process — ensure “total transparency,” says Alton Dillard, communications manager for the Denver Clerk and Recorder’s Office. “It is very important to note that our system is totally air-gapped, meaning nothing is connected to the Internet,” Dillard says.’

          OK, they keep saying that. If you read the 305th affidavit, not only was the whole system connected to the internet it was crawling with hackers prior to and election day and night.

          So, can it not be simply confirmed there was internet activity? We can confirm that for any shack or coffee spot and also an election site.

          2. I listened to the court case yesterday, it was the first I’ve sat in on. The judge had already made up his mind and didn’t address the evidence at all.

            I’m losing track of who’s doing what. Ben are you saying that YOU were the one listening in on the Texas Court case? So which judge had already had his mind made up? Not the Supreme Court, because evidently Texas re-filed.

            And yes, this is going to have to go to the Supremes. ALL of it. We can already see that no other judge or court — and I mean NOBODY — is interested in being impartial.

          4. I listened to the court case yesterday, it was the first I’ve sat in on. The judge had already made up his mind and didn’t address the evidence at all. It was all jurisdiction mumbo-jumbo. We can cut to the chase:

            I think that was the plan all along – rig the election knowing the deep state courts had your back. This is systemic. This isn’t a coup in progress, the coup already happened when they stole the government.

          5. Can’t be stolen:

            ‘Importantly, the Preamble declares who is enacting this Constitution—the people of “the United States.” The document is the collective enactment of all U.S. citizens. The Constitution is “owned” (so to speak) by the people, not by the government or any branch thereof. We the People are the stewards of the U.S. Constitution and remain ultimately responsible for its continued existence and its faithful interpretation.’

            https://constitutioncenter.org/interactive-constitution/interpretation/preamble-ic/interps/37

            As I was watching the Arizona gathering yesterday, I realized I have never seen people this fired up. We realize what’s going on, what’s at stake.

          8. because evidently Texas re-filed

            Texas approached the Supreme Court directly because Article III provides that it is the court of first impression on subjects where it has original jurisdiction, such as disputes between two or more states.

          10. Can’t be stolen:

            I should have said “infiltrated.” When we consider this coup, it’s obvious that it goes back to the Obama administration. They seeded the government with anti-American traitors.

          1. BY AILA SLISCO ON 12/8/20 AT 12:20 AM EST

            Senator Lindsey Graham (R-S.C.) urged Republican Georgia Governor Brian Kemp to take steps to end a Republican “civil war” by overturning President-elect Joe Biden’s victory, shortly after he had certified the election for the Democrat a second time.

            Graham made the remarks during a Monday night appearance on Fox News’ Hannity. The senator warned that not calling a special legislative session focused on overturning the election outcome or ordering a signature-focused audit of results, which the governor has called for but cannot order himself, could have dire consequences for Kemp’s political future because it will displease supporters of President Donald Trump.

            “If you’re not fighting for Trump now when he needs you the most as a Republican leader in Georgia, people are not going to fight for you when you ask them to get reelected,” Graham said. “There’s a civil war brewing in Georgia for no good reason. It’s not unreasonable to ask the legislature to come back in and order an audit of the signatures in the presidential race to see if the system worked. What is unreasonable is to sit on your ass and do nothing when you’ve got a chance to save the country.”

            https://www.newsweek.com/lindsey-graham-blames-governor-kemp-gop-civil-war-brewing-georgia-1553035

          2. Why not shunt aside Senile Joe & Comrade Kamala, and let the CCP-globalist oligarch-Deep State cabal rule over us directly? At least that way we know exactly who our Overlords are.

            https://www.thegatewaypundit.com/2020/12/watch-video-deleted-chinese-social-media-professor-saying-china-people-top-americas-core-inner-circle-power-influence/

            Fox News host Tucker Carlson ran a segment on a video deleted from Chinese social media of a professor saying that China “has people at the top of America’s core inner circle of power and influence.”

          3. ‘The Insurrection Act of 1807 is a United States federal law (10 U.S.C. §§ 251–255; prior to 2016, 10 U.S.C. §§ 331–335; amended 2006, 2007) that empowers the President of the United States to deploy U.S. military and federalized National Guard troops within the United States in particular circumstances, such as to suppress civil disorder, insurrection and rebellion.’

            ‘The act provides a “statutory exception” to the Posse Comitatus Act of 1878, which limits the use of military personnel under federal command for law enforcement purposes within the United States.[1][2]’

            Before invoking the powers under the Act, 10 U.S.C. § 254 requires the President to first publish a proclamation ordering the insurgents to disperse. As part of the Posse Comitatus Act of 1878, these provisions are now codified as amended.

            ‘There are Constitutional exceptions to Posse Comitatus restrictions rooted in the President’s own constitutional authority. Defense Department guidelines describe “homeland defense” as a “constitutional exception” to Posse Comitatus restriction, meaning that measures necessary to guarantee National Security from external threats are not subject to the same limitations.’

            ‘The Act empowers the U.S. president to call into service the U.S. Armed Forces and the National Guard:

            -when requested by a state’s legislature, or governor if the legislature cannot be convened, to address an insurrection against that state (§ 251),
            -to address an insurrection, in any state, which makes it impracticable to enforce the law (§ 252), or
            -to address an insurrection, domestic violence, unlawful combination or conspiracy, in any state, which results in the deprivation of Constitutionally-secured rights, and where the state is unable, fails, or refuses to protect said rights (§ 253).’

            ‘In 2016, Public Law 114-328 was amended to include Guam and the US Virgin Islands under Ch. 13 jurisdiction. §252: “Use of militia and armed forces to enforce Federal authority” currently reads:

            ‘Whenever the President considers that unlawful obstructions, combinations, or assemblages, or rebellion against the authority of the United States, make it impracticable to enforce the laws of the United States in any State by the ordinary course of judicial proceedings, he may call into Federal service such of the militia of any State, and use such of the armed forces, as he considers necessary to enforce those laws or to suppress the rebellion.’

            https://en.wikipedia.org/wiki/Insurrection_Act_of_1807

  2. ‘Mr. Cooper services over 3 million mortgages in the U.S., with a total of over $500 billion in unpaid balance’

    Is that a lot? Good thing this is a non-bank. They can always sell those coffee pots and ficus trees to make up the loss.

    2. who takes the hit? I am assuming as the servicer – he just collects the mortgage payment – someone else has the negative cash flow.

      Am i incorrect

      1. ‘Mr. Cooper – then known as Nationstar – bought thousands of mortgages through MSR bulk purchases’

        Sounds like he owns it. This non-bank debacle has been in the making for years. I used to see Nationstar all over the paperwork for shacks I did foreclosure work on. Mostly subprime, probably still is.

  3. ‘it was 20 percent cheaper on an apples-to-apples basis than in August of 2018 (while the index for Bay Area condo values is only down 2.7 percent over the same period of time and ‘median sale prices’ are up).’

    In other words the UHS are a lion. Eat yer crowz Thornberg!

  4. ‘I am trying everything and anything…‘I went to a bunch of bunch of veterans in the business who told me to wait and you will take much less in a few months. Basically no one is writing me a check’

    Have you tried stamping yer little feet Levi?

    2. “He said buyers had been offered a chance to rescind their contracts the month before, as required by law when a condo doesn’t meet its projected first year of operation. Five buyers took him up on the offer, meaning the building fell under the “effective” threshold — a term used to describe when 15 percent of units are in contract — and closings couldn’t begin. Last November, with no closings in site, the developer canceled the remaining contracts.”

      No door man? No closings!

  5. ‘The seller of a luxury condo apartment on Manhattan’s Billionaires’ Row took a loss of at least $12 million to offload the property’

    Well it was cheaper than renting.

    ‘An apartment on the 88th floor sold in May for $28 million, which was $19 million less than the seller paid in 2014’

    Ooh, maybe not!

  6. ‘Stephanie Bastek, an organizer with tenant advocacy group Stomp Out Slumlords’

    Steph is a commie.

    ‘organizers have frequently come across buildings whose managers are offering one to three months’ worth of free rent to new tenants without offering any rent forgiveness to current residents, many of whom are struggling to pay in the face of pandemic-related job instability’

    Hmm, so these free months aren’t included in the sawin’ and a slashin’. What’s that add up to, 50% off?

    ‘Thus far the effect on current tenants is mostly to enrage them’

    Stamp em’ you little commie!

    1. one to three months’ worth of free rent to new tenants without offering any rent forgiveness to current residents,

      This has been going on for decades. We even discussed it here on HBB — how some tenants can only afford the rent by moving every single year to take advantage of the move-in specials.

      1. LOL@ people who rent from corporations.

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

        From your own description, on this blog, you live in a Central American ghetto.

        1. Yes, that’s why I bought a house. To stop renting from corporations. I know that I won’t have enough income to pay rent or a mortgage when I stop working, and I don’t have some juicy inheritance coming to me either. So for me, home equity/paid off house is the best way for a comfy retirement.

          And please at least stop calling me a realtor.

        2. Which is why I think Oxy should sell and rent for a while since rents are cratering. Bank those gains and eventually buy somewhere that doesn’t resemble El Salvador.

          1. It’s a worthwhile idea Rip, but it doesn’t pencil out for me specifically. I’ve been in the house long enough that my mortgage costs about the same as renting a two-bedroom apartment. The only rents which are lower are Grade B-minus in an even worse Central American barrio than I live in now.

            The pandemic has made the US gov much more amenable to full-time telework. A much better option would be for me to take full-time telework, sell, and use the profits to buy something outright, perhaps in a resort town.

    3. Struggling? They are probably not even paying their current rents. Otherwise, they can just move to get the 3 months discount.

    4. ‘Thus far the effect on current tenants is mostly to enrage them’

      Stamp em’ you little commie!

      As the housing bubble bursts, I foresee real potential in start-up companies that design and build turbines capable of harassing the kinetic energy released by the stamping of tiny feet. Think of the micro-grids and battery banks you could install around every “luxury condo” complex.

  7. ‘the delinquency rate for condos is still much lower (4.7 percent in October) than for single families at 6.81 percent. Two-to-four units properties have the highest rate at 9.06 percent’

    These people are fooked.

    ‘Foreclosure moratoria’

    So I guess that’s plural for moratorium.

  8. BTW, it’s normal for reporters to get lazy during holidays but now the crater has resumed faster than I can post it. Lots of international crater coming in.

    ‘If renters aren’t able to pay their rent, and landlords aren’t able to make their mortgage payments, how is all that going to unfold when the moratorium is done?’

    Strategic default?

  9. The lender is now calling for all principal, interest and fees owed under the loan to be paid back, totaling $35.7 million, with interest accruing at a rate of $17,333 per day.”

    Color that money gone, lender. Next up: cratering securitized collateral on all those non-performing loans.

    1. Color that money gone, lender. Next up: cratering securitized collateral on all those non-performing loans.

      Next up: Credit event which triggers derivatives market meltdown.

    2. On July 12, 2019, GA Gov Kemp met Houston Consul General Li Qiangmin at rumored Chinese spy hub consulate in Houston.

      On July 29, 2019, GA signs contract for Dominion Voting Machines statewide.

      This guy should be facing a firing squad if this is true.

    3. Gov Kemp met Houston Consul General

      That could be part of his day job, right? If his family members got money from China, that would be more interesting.

    1. She’s become the new Cory Garner of the r/Denver sub-Reddit.

      Funny because they can’t vote her out, they can only seethe.

    1. What’s remarkable is that Twitter has left this up. Given how pissed off people are at the election steal, Twitter execs might want to think twice about being perceived as being openly in league with the treasonous CCP-globalist oligarch-Deep State conspirators.

  15. You would think the FBI and DoJ would be concerned about the national security implications of Democrats being co-opted by Chinese intelligence operatives, but evidently hoax hate crimes take precedence.

    Chinese spy targeted California politicians

    https://www.axios.com/china-spy-california-politicians-9d2dfb99-f839-4e00-8bd8-59dec0daf589.html

    A suspected Chinese intelligence operative developed extensive ties with local and national politicians, including a U.S. congressman, in what U.S. officials believe was a political intelligence operation run by China’s main civilian spy agency between 2011 and 2015, Axios found in a yearlong investigation.

    2. China targeted politicians, business leaders, academia. Saw it first hand over the last 25+ years. Previous company I worked for had what I believed to be a chinese spy – resume was an elaborate hoax. I saw through her and eventually she was let go as she had no skills, contrary to her vaunted “career”.

      I looked up one possible spy that I worked with many years ago – communist party officials even came out for some pow wow to let him know they were keeping an eye on him. He works in the NASA airborne science program now. A key giveaway is if their work is a poor recycling of previously established methods. Some get paid big $$$ by universities and poach anything their smart grad students come up with.

    2. That there even are publicly traded shack builders strikes me as very odd. Then again we have all kinds of odd publicly traded companies.

      Interesting that SpaceX is privately held. I guess Mush doesn’t want to have to deal with shareholders and elected boards as he plans on colonizing Mars.

  19. Clown World Chronicles — Tuesday Edition:

    “Though she’d never had much use for social media before, on Reddit she found a forum—or “subreddit”—where tens of thousands of members, predominantly women, were devoted to the insistence that trans women are not women. “I first found the community while I was still looking for answers,” Fain said. These women were asking the same questions that she was, going through the same uncomfortable situations with their friends, feeling the same moment of disenchantment. They had experienced the same guilt over breaking with their communities, and now they had one another.

    Among other online feminists, the common name for this group Fain found is “trans-exclusionary radical feminists,” or TERFs. The name the community has chosen for itself is the somewhat more palatable “gender critical,” though, as other feminists often point out, that name means nothing; all feminism is critical of gender. TERFs constitute “a minority of a minority of feminists,” says Grace Lavery, a UC Berkeley literature professor and writer. Nevertheless, this tiny group has attracted a disproportionate amount of attention in the past several years, in large part thanks to social-media platforms.”

    https://www.theatlantic.com/technology/archive/2020/12/reddit-ovarit-the-donald/617320/

    Women don’t want to be around men who LARP as women, and Real Journalists don’t like it.

    Real Journalists want Weimar. Real Journalists want Fall of Rome.

    The Day of the Rope is coming…

    1. trans women are not women.

      Try 40 years of pain and bleeding. Then they can claim they’re women. And not before. This doesn’t even include childbirth. Or thousands of years of being short, weak, hated, mocked, and raped.

      2. thousands of years of being short, weak, hated, mocked, and raped.

        That sounds quite unfortunate. The women of my family were strong, successful, loved and respected.

        And rms, that menopause can take its toll on the husband too.

  21. Globalist media outlets continued to shed Real Journalists during the pandemic as the general public grew increasingly disenchanted with being fed a diet of lies, omissions, and DNC talking points. Citizen journalists and truth-tellers on the Internet, on the other hand, are seeing their audiences grow exponentially.

    Figures Show Newsroom Jobs Took Massive Hit During Pandemic

    https://www.newsmax.com/finance/streettalk/journalism-jobs-coronavirus/2020/12/08/id/1000590/

    The coronavirus pandemic helped decimate already declining U.S. media jobs in digital, print, and broadcast newsrooms, according to new data.

    According to the figures provided by Challenger, Gray & Christmas, Inc. and posted by Axios, 16,000 newsroom jobs were lost in 2020 — higher than the last peak in 2008, when 15,000 newsroom jobs disappeared.

    The data showed 14,000 “other media jobs” were lost this year as well, a category that includes jobs in television/film/streaming production, advertising, and book publishing. Those categories got whacked in 2008 as well, shedding nearly 15,000 jobs.

    1. It’s a dead business model.

      By choice, and not much effort, I have practically eliminated advertising from my life. Stop giving these people money, any money.

    2. 16,000 newsroom jobs were lost in 2020

      The question is: How many more must be shaved away before newspeople will simply and honestly report news rather than agenda?

    1. Businesses want customers, not gibs.

      Reddit wants gibs. Reddit has not been in direct sunlight in nine months and hasn’t bathed in a week. Reddit’s neckbeard is getting itchy wondering why it’s taking the DoorDash delivery so long.

        2. TBH, I wouldn’t object to giving them more gravy through the pandemic. I would much rather give the money to the people, than for the Fed to print basically spend on inflating the S&P.

          But when almost everyone who wants one of the vaccines can get one (say, end of June), it’s DONE. After that it’s a regular recession and they should be on their own. And I *still* don’t like the idea of rent moratoriums on top of $2400/mo.

          1. I wouldn’t object

            Raining money on individuals or the S&P to quiet unrest over shutdowns that aren’t necessary or helpful is absurd. And we don’t have the money.

  26. Libtards reaping what they voted: Portland Edition. Squatters moved into a vacant shack in a residential neighborhood; after multiple complaints police moved to eject them. The Antifa scum, emboldened by their cozy relationship with the Soros-installed DA and their fellow collectivists in City Hall, fought back.

    Chaos In Portland As Antifa Terrorists Attack Police To Prevent Squatter Eviction (VIDEO)

    https://www.thegatewaypundit.com/2020/12/chaos-portland-antifa-terrorists-attack-police-prevent-squatter-eviction-video/

    Antifa terrorists and their associates pelted Portland police with projectiles and sprayed them with fire extinguishers during an attempted eviction Tuesday morning. The terrorists also slashed several tires on SUV cruisers and hurled objects at them, breaking several windows and doing substantial damage. Officers were forced to retreat as the unruly mob continued to pose a threat.

    1. “The terrorists also slashed several tires on SUV cruisers and hurled objects at them, breaking several windows and doing substantial damage.”

      If you allowed toddlers to throw temper tantrums, throw and break things without any consequences toddlers would continue to throw temper tantrums, throw and break things.

      Temper tantrums in toddlers: How to keep the peace
      Temper tantrums are a normal part of growing up. Find out how to respond to temper tantrums — and what you can do to prevent them.

      By Mayo Clinic Staff

      Why do tantrums happen?

      A tantrum is the expression of a young child’s frustration with his or her limitations or anger about not being able to get his or her way. Perhaps your child is having trouble figuring something out or completing a task. Maybe your child doesn’t have the words to express his or her feelings. Frustration might trigger an outburst — resulting in a temper tantrum.

      What if my child becomes destructive or dangerous?
      If a tantrum escalates, remove your child from the situation and enforce a timeout:

      Select a timeout spot. Seat your child in a boring place, such as in a chair in the living room or on the floor in the hallway (or County Jail). Wait for your child to calm down. Consider giving one minute (or month) of timeout for every year of your child’s age.

      https://www.mayoclinic.org/healthy-lifestyle/infant-and-toddler-health/in-depth/tantrum/art-20047845

      1. Select a timeout spot. Seat your child in a boring place…

        Timeout spot children will not be prepared for real life, where consequences are often swift and painful. At least in the world I came from.

      2. The cops need to be bustin’ purple-haired tranny heads. Stack ’em up like cordwood. They’ll fall into line after a few days of that.

    1. Ah Westchester, where Sandy or I mean that underprivileged kid AOC from the Bronx actually attended Yorktown High School before being shipped off to that dungeon where many poor kids go, Boston University.

    1. As long as housing prices continue cratering, all is well.

      Allen TX Housing Prices Crater 10% YOY As Dallas Housing Market Turns Toxic On Rampant Mortgage Fraud

      https://www.movoto.com/allen-tx/market-trends/

      As a noted economist said, “Nothing has created more personal bankruptcies and poverty like the 15 and 30 year mortgage. Nothing.”

  31. “Get woke, go broke”: Fox News is paying the price for jumping on the Orange Man Bad MSM bandwagon, as its ratings have plunged and it has now been surpassed by the conservative Newsmax media channel. Moreover, as more Americans cut the cable as a cost-cutting measure or as a middle finger to globalist media’s near-monopoly on news and information, Internet-based truth tellers could see their following explode while legacy MSM globalist propaganda purveyors could see their market share and audiences continue to slump.

    https://www.fastcompany.com/90583057/newsmax-fox-news-cord-cutting

    You wouldn’t know it by looking at cable TV ratings, but Fox News has a problem on its hands.

    While the conservative news giant enjoyed record Nielsen ratings in November thanks to the presidential election, its dominance is now being tested by Newsmax, a scrappier competitor that’s had fewer reservations about questioning Joe Biden’s victory. That stance has earned the channel praise from Donald Trump, rumors of an acquisition or investment by Trump allies, and a flurry of stories examining Newsmax’s ascent in the TV news pecking order.

    1. Geeze, even that article is biased. “when extremism wins… right-wing election fraud hysteria… amplification of stolen election claims.”

      Plus a bunch of hooey about bundles and streams. I give up. I’d rather read a quick news story or a short YouTube video. Live news content of any platform is too much filler.

      1. or a short YouTube video

        YouTube is in the sh!tter. Their censorship is off the charts now. I’m slowly weening myself off them and plan to completely eliminate the site from my rotation.

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