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A Whole Bunch Of First-Time Buyers From Five Years Ago, Now They’re Stuck

A report from WGRZ on New York. “David Cohen says his catering business was basically shut down due to the pandemic, so he was counting on the three apartments he rents out, including one over his North Tonawanda business, to generate some income. However, he says one tenant has only paid partial rent for several months and nothing at all in recent months. Cohen says, ‘I’m not getting rent. And with the moratorium going to be extended until May, by the time evictions can start, we’re looking June, going to be over $13,000 I’m owed.'”

The Star Advertiser in Hawaii. “Lisa and Jed Stevens, who own Koloa Kai Vacation Rentals & Management on Kauai, had seen their income stream dry up from the end of March through October as travel demand plunged from fear of COVID-19 and government restrictions. They were just getting back on track in November, when Kauai Mayor Derek Kawakami announced that as of Dec. 2 the island was temporarily opting out of Safe Travels.”

“‘Occupancy had ticked up to 60% for December. We usually run about 85% or 90% in December, but we were headed back to a sustainable level,’ Lisa Stevens said. ‘Then the rug got pulled out from under us. We had to reach out to all our guests and let them know that we couldn’t host them anymore and we didn’t know when we might host them again. We estimate that we could go another month without additional relief.'”

From Forbes on California. “Yesterday the news was of Michael Jackson’s Neverland Ranch finally selling for $22 million, all the way down from its original $100 million price tag. Today there’s another $80 million price drop to report, this time in the Bel Air neighborhood of Los Angeles. This 34,000-square foot home, built as a flip house by plastic surgeon Raj Kanodia, listed two years ago for $180 million.”

“There was avid interest from local media when the home went on the market, but no serious buyers made it all the way through the purchase. Eventually the owner tried taking it off the market and listing it as a rental for $1.5 million per month, saying at the time it was most likely the most expensive rental in the country. But now he has put this nine-bed, 20-bath house back on the market with an ask of $99 million, along with a new team of listing agents.”

The Globe and Mail in Canada. “New buyers are seeing condo prices come within reach in downtown areas awash with vacant high rises. Prospective buyers who may be under the impression that real estate prices only go up should consider the plight of those who bought condos in Toronto before prices fell this year, cautioned Hilliard MacBeth, an investment adviser and author of When the Bubble Bursts: Surviving the Canadian Real Estate Crash.”

“While prices may be coming down for city condos, Mr. MacBeth said maintenance fees, insurance and taxes can still make them far from affordable compared to rentals. Plus, he says, young buyers could find they don’t have the equity to move up in a few years, if prices fall more. ‘A whole bunch of first-time buyers from five years ago, and three years ago and two years ago, that bought these condos in the centre of Toronto – now they’re stuck,’ Mr. MacBeth said.”

From Bloomberg on the UK. “On the edge of London’s Canary Wharf district, the tallest residential skyscraper in western Europe was due to open this year. The Spire London’s hype gushed about the possibility of drones delivering food to residents in between their visits to the tower’s cinema and swimming pool. Instead, all that’s rising from the board-up site owned by Chinese developer Greenland Holdings Corp is weeds.”

“Some projects would have struggled regardless because developers read the market wrongly or didn’t pick the right location, according to Peter Rees, Professor of Places & City Planning at University College London. ‘Brexit and Covid-19 are being used as convenient excuses for the failure of ill-conceived development projects,’ he said.”

The Majorca Daily Bulletin. “Rental prices in the Balearic Islands fell 7.3% to 11.7 euros per m2 in 2020, which is the biggest price drop in the country in the last 12 months, according to idealista’s pricing report. Prices dropped by 6.2% to 11.2 euros per m2 in Palma but the biggest fall in Mallorca was 11.8% in Manacor, followed by the Island of Ibiza with a 10.3% drop in Santa Eulalia del Río and 10% in Ibiza Town.”

“2020 has been a difficult year for the rental market and the biggest declines were in five of the most dynamic markets before the pandemic. Prices fell by 9.4% in Barcelona, 7.3% in Madrid, 6.2% in Palma, 5.6% in Malaga and 5.2% in Seville.”

From Biz News on South Africa. “A designer Clifton home boasting some of the best views in Cape Town is on the market for R200m. The luxury villa is located on Nettleton Road, SA’s most expensive street with selling prices averaging between R150m-R200m. According to Jo Lombard, Seeff Atlantic Seaboard luxury market specialist, the property is marketed as ‘price on application’. However, the seller is looking to get around R200m for the property. ‘Whether this can be achieved in the current market remains to be seen. If R200m is achieved, it would be the most expensive Clifton home ever sold,’ says Jo Lombard.”

“According to Propstats data, the last highest price paid for property was 3 Nettleton Road – which sold for R120m in 2017. ‘Clifton villa sold for R120m. One of most expensive properties in South Africa., yet less than half of that spent on Nkandla compound upgrade,’ said Peter Mansfield.”

“Lombard says the busiest price bands in the luxury areas are Fresnaye and Bantry Bay for houses below R10 million. ‘The rand depreciation, coupled with approximately 20% property prices declines since 2019 has encouraged bargain hunting from foreign investors.'”

The Thai Examiner. “Bangkok has a property glut with up to 300,000 unsold properties as foreign buyers, mostly Chinese, are still trapped behind their own borders. Phairach Sakwit, a senior Vice President with Bangkok Bank estimated that there could be up to 300,000 unsold property units in the Greater Bangkok area alone between unsold condos and low rise residential property units.”

“Since the end of 2018, Bangkok property developers have been cutting back on lower value condo developments and focusing more on low rise residential property which is now where a new glut has developed. ‘Developers should think twice when they want to launch a low-rise project as the number of low-rise supply spikes,’ Mr Phairach said. ‘Today seeking a land plot for condo development is easier than for low-rise houses, as many developers have shifted from the condo to the low-rise market.'”

“This September, Dr Apha Atboonwong, who is President of the Thai Condominium Association in an interview with Channel 3 TV revealed that the closure of the country to Chinese buyers was having a devastating effect on the local condo market. She said that 98% of foreign buyers, in more recent times, were from China and indicated that unclosed sales on up to 10,000 condos existed after Chinese buyers halted stage payments.”

The Sydney Morning Herald in Australia. “Hundreds of Sydney apartment owners are facing an uncertain future after the collapse of a company linked to the builder of the Opal Tower, with allegations that it collectively owes them $30 million to repair seven defective builds across the city. The revelations come as another high-profile construction group, Ganellen, placed one of its companies into administration last week, midway through a court battle over defects and only days after it was fined over the worksite death of a young apprentice.”

“At a recent creditors’ meeting it was revealed that the former of the companies is being chased over alleged defects in apartments it built at Rosebery, Waterloo, Hurstville, Bondi, Lane Cove, Greenwich and Five Dock. The most substantial of those is a $20 million claim from the owners of the Otto apartments at Rosebery. The building made headlines last year when it was revealed that owners had been told it was unsafe to have more than three people standing on their balconies.”

“Administrator’s documents reveal GDC Group has current court action against it that has now been left in limbo. David Oliver was stunned when his lawyers informed him the company was being wound up, three days before Christmas. Mr Oliver is a member of an owners’ corporation that has been pursuing GDC Group through the courts since 2017 for over a million dollars’ worth of alleged defects in a North Shore apartment block.”

“‘We were meant to be heading to a settlement conference with them in February,’ he said. It is likely that the compensation claim will now be directed to the developer, Defence Housing Australia, which subcontracted Ganellen to build the block. ‘Now they’re left holding the baby – which is effectively the public purse,’ Mr Oliver said. ‘We’re lucky Defence Housing isn’t going anywhere.'”

This Post Has 117 Comments
    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/

      Dominion forensic report from Michigan (PDF):

      https://www.depernolaw.com/uploads/2/7/0/2/27029178/antrim_michigan_forensics_report_%5B121320%5D_v2_%5Bredacted%5D.pdf

      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

        Some videos worth watching:

        https://twitter.com/realDonaldTrump/status/1341948764068704256?ref_src=twsrc%5Etfw

        Rudy Giuliani Shuts Down Every Single Democrat And Troll In 6 Minutes

        https://www.youtube.com/watch?v=UUQqLNmap9c

        Sidney Powell On Her “Elevator Pitch” To The Supreme Court

        https://www.youtube.com/watch?v=qJg_E_u-2hM

        1. I watched this last night after it was posted here:

          Leigh Dundas – Election update, December 29th, 2020

          https://www.youtube.com/watch?v=gI-IKL4SudQ&feature=youtu.be

          She did good job summarizing a lot of points. Much of the stuff about who was replacing who has been documented by the Epoch Times as it went on. I didn’t know that the DNI was also refusing to work with Dpedo. She mentioned the myriad of clampdowns on the chicoms recently: I’m sure very few realize that every day more Chinese spies are busted, kicked out of he US, etc.

          In he beginning she talked about having the guts to stick out a war. Intestinal fortitude. I see that all the time. “Oh, this is taking longer than a netflix period docu-series!” So what? Grow a spine people. Sunshine patriots aren’t patriots. Hand wringing doesn’t help. Waffling doesn’t help. And if you can do something positive, get the hell out of the way.

          We hear things like “freedom isn’t free”. Well here we are. Did we fight to keep our 2nd amendment rights all these years just to be walked over by a bunch of noodle armed antifa wimps? Not me. Sure there’s a plan, many plans. Now’s the time for resolve.

          verb
          -settle or find a solution to (a problem, dispute, or contentious matter).
          noun
          – firm determination to do something.

          1. Car Caravans Forming for ‘Historic’ Protest in Washington

            “There are two things that Trump’s ever asked us to do. One was to vote for him and now, the other one is to be in D.C. on the 6th,” Enoch said. “That’s why I started organizing this.”

            ‘At least three pro-Trump groups that are organizing protests in Washington on Jan. 6—MAGA Million, March for Trump, and Stop the Steal—have reached out to support and promote the caravans. “It might be one of the biggest caravans we’ve ever had here in America,” Enoch said. The president’s legal election challenges in Pennsylvania, Georgia, Michigan, Wisconsin, Arizona, Nevada, and New Mexico have so far borne no fruit. With each passing day of no progress in the courts, Jan. 6 has become increasingly significant. In more than a dozen interviews with organizers for the various caravan stops, the president’s supporters described the day as a historic last stand for Trump and the movement that he’s inspired.’

            “The whole event is going to be like our 1776 moment. It’s an important time to make sure that America stays America. It’s a crazy day, but I want to be part of it,” Dean, 55, of Charlotte, North Carolina, told The Epoch Times.’

            “I think if we don’t save our republic now, I don’t know when we can,” said Amelia, 22, of Fenton, Michigan.’

            “I’ve never served in the military, but I feel like I’m right now in the military,” said Shawn, 57, of Knoxville, Tennessee. “And I’m going into war. I’m going to battle for my country. I think we all feel that way. We’re going to get boots on the ground.”

            “Trump is not only the president of America. I believe he is the leader of the free world,” a Queens, New York, man, who didn’t want his name published and who goes by the nickname Storm on Twitter, told The Epoch Times. “If America falls, then the rest of the free world is going to fall to socialism and communism and the New World Order.”

            ‘Jake, of Chapel Hill, North Carolina, said he is taking his last two days off until June. Jake voted for Sen. Bernie Sanders in 2016 and changed his mind about Trump earlier this summer. “I just realized there’s this overwhelming hatred for him,” Jake said. “And I never really gave him a chance. And as soon as I did, a lot more things made sense.”

            ‘Harmony, 45, who’s organizing the stop in Gettysburg, said she’d be willing to lose her job in order to go. “If there was ever a day that patriots needed to be in D.C. in person, it’s on January 6,” she said. “This is the culmination of the fight that we’ve been in for the past four years.”

            ‘A couple of the organizers said they were confident about Congress changing the outcome of the election. “I’m honestly not worried. I think that if we had to take back this country I think that we could and we would,” Amelia said. “I think that there are a lot of Americans with me. I’m willing to do anything to save this constitution and to save our republic.”

            https://www.theepochtimes.com/car-caravans-forming-for-historic-protest-in-washington_3636696.html

          2. Advice to anyone visiting D.C. next week, be very aware of your surroundings. This is especially important when you are leaving the event and walking to a parking garage or the Metro station.

            Antifa and Burn Loot Murder will attack if you appear vulnerable or are outnumbered.

            NOTE: they never fight fair or fight one on one.

            If you are forced to defend yourself, understand that the police and prosecutors in D.C. are not on your side. Your attackers are all bankrolled with large bail funds. You will be doxxed for defending yourself, and your family and job / business will be threatened.

            I don’t like it, but it’s the sad truth.

          1. Modern network photocopying machines usually print copier serial number, lan tcp/ip source numbers, and job username in a non-visible color spectrum that can be audited with optical filters. Gotta find those paper ballots!

          2. I also think it would be relatively easy to differentiate a copy from an original. An original would be printed in ink, using spot colors. A duplicate would use toner, which would require screening/halftoning to reproduce the target colors, which could be easily detected.

          3. It might be a laser impression…I don’t know. But I have seen the OIG wearing nitrile gloves confiscate paper and carefully slip it into evidence folders. Later, at the coffee shop over lunch they said that they could examine the print job just like Blade Runner.

          4. print copier serial number

            So you could trace a fraudulent ballot to the actual copiers, probably in a business office? That would have blown some doors off.

          5. Looks like it can be bypassed:

            A Machine Identification Code (MIC), also known as printer steganography, yellow dots, tracking dots or secret dots, is a digital watermark which certain color laser printers and copiers leave on every single printed page, allowing identification of the device with which a document was printed and giving clues to the originator. Developed by Xerox and Canon in the mid-1980s, its existence became public only in 2004. In 2018, scientists developed privacy software to anonymize prints in order to support whistleblowers publishing their work

          6. I’m talking about network printers that can queue multiple print jobs with priority and security options, handle large print jobs with collate and stapling and handle heavier oversized paper stock. The auditing information is a non-visible barcode format with lots of details recorded. Think of Joe Sixpack the employee running a sheet of $20s carefully taped through the copier and then passing copies through the currency exchange machine at the local coin operated car wash? Happens frequently all across the country.

          7. ‘The Superior Court of Fulton County is set to hear a petition next week from a group of Georgian voters demanding a “forensic inspection” of mail-in ballots in the county from November’s presidential election.’

            “We have just received notice that we will be granted a hearing Monday, Jan. 4 at 11 a.m. on our Emergency Petition to visually inspect and forensically examine all Fulton County mail-in ballots,” Garland Favorito, one of the petitioners, told The Epoch Times. “That includes those processed at State Farm Arena and those that auditors detected as potentially fraudulent.”

            ‘The petitioning voters, organized by VoterGA, are seeking to visually inspect all Fulton County’s mail-in ballots, rescan them for a forensic exam, and obtain electronic copies of the Dominion ballot images and standard election reports. They cited a resolution unanimously passed by Georgia Senate’s Election Law Study Subcommittee this Wednesday, which demands the county to make its ballots “available for inspection” in a way that’s almost identical to the relief sought in the petition.’

            ‘The questions regarding the integrity of Fulton County’s mail-in ballots arose from security camera footage of workers processing ballots on election night. The viral video showed suitcases, purportedly holding tens of thousands of ballots, being taken out from underneath a skirted table by a group of workers, who appeared to be scanning the same batches of ballots repeatedly after poll watchers and media were told counting was done for the day.’

            ‘While the repeated scanning could have been a legitimate action due to machine errors, workers in such a scenario are supposed to discard the whole batch of scans and scan the ballots again. The video quality, however, makes it hard to tell if that was indeed the case in each instance.’

            ‘Digital ID systems inventor Jovan Pulitzer, who testified before the subcommittee, said that he and his team could detect if that was the case, and that it can be done in hours.’

            “We would be able to tell if they were folded, if they were counterfeit, whether they were filled out by a human hand, whether they were printed by a machine, whether they were batch-fed continually over and over, we can detect every bit of that,” Pulitzer said.’

            ‘The ballot paper itself, when scanned, becomes a piece of code, he explained. Every time the paper is physically handled, such as folded or written upon, the code would change and the change can be detected.’

            ‘Georgia is one of the states where election results are being contested by the campaign of President Donald Trump and others. The current count in the state shows former Vice President Joe Biden ahead by some 12,000 votes.’

            https://www.theepochtimes.com/georgia-court-to-hear-on-petition-to-inspect-fulton-county-absentee-ballots_3639711.html

          8. It should be noted that if a group is going to claim the elections were clean they should have to prove it. The county election people should have called for this guys services. All these states should be falling over themselves to have their voting machines audited to prove how clean everything was. The fact they aren’t and actually fight tooth and nail to prevent any scrutiny indicates guilt.

          9. Think of Joe Sixpack the employee running a sheet of $20s carefully taped through the copier and then passing copies through the currency exchange machine at the local coin operated car wash?

            Wouldn’t those barcodes on the margins be removed as the sheet is cut up? And wouldn’t a part time counterfeiter just use a simpler machine? AFAIK, the printer/copiers you can buy at the store don’t have any functionality to print invisible bar codes.

          10. they said that they could examine the print job just like Blade Runner

            If by that you mean that they can blow up the page to reveal otherwise invisible information, there is only so much information in bitmapped image.

            That said, it is possible to identify the printer a page was printed on, by matching imperfections on the page from printer’s drum. That is a fingerprint. Kind of like how ballistics teams can match a bullet to a gun.

          11. When I first started our drawings were done on a plotter that rolled the sheet back and forth while the various colors were applied separately. It was actually kind of fun to watch; lots of vector math was taking place under the hood. Then it was WYSIWYG followed by network and security controls. Moore’s 18-months of doubling computing power has morphed into micromanagement. My former co-workers are now required to run an GPS app or carry an ELT when outside the office; it’s for employee safety. Reminds me of the painting of a range cowboy staring at a barbed wire fence.

          12. lots of vector math was taking place under the hood

            There is a printer language made for that: HPGL. Many laser printers also support it, along with PCL and Postscript.

            These days the plotters don’t use pens anymore and instead use inkjet technology. I don’t know if it is still the case, but in the past HP would internally refer to inkjet cartridges as “pens”

          13. Yep, modern color copier/printers will also refuse to copy currency. And they do use patterns of dots that uniquely identify the printer. Do NOT use a color copier/printer to send a ransom note!

          14. “Do NOT use a color copier/printer to send a ransom note!”

            Or anonymous x-rated love letters to a subordinate employee.

  1. ‘Now they’re left holding the baby – which is effectively the public purse,’ Mr Oliver said. ‘We’re lucky Defence Housing isn’t going anywhere.’

    Yer fooked Dave.

  2. ‘Then the rug got pulled out from under us. …We estimate that we could go another month without additional relief’

    Yer fooked too Lisa and Jed.

  3. ‘New buyers are seeing condo prices come within reach in downtown areas awash with vacant high rises. Prospective buyers who may be under the impression that real estate prices only go up should consider the plight of those who bought condos in Toronto before prices fell this year’

    I don’t see the problem really. Shirley, the REIC scumbags that taunted these weak minded fools into borrowing will help them out. Plus, what can an airbox in Toronto cost, 10 or 20k pesos?

    1. Condos are a [good] start. But still a long way to go still. Detached houses in the Toronto ‘s suburbs went up 15-20% in 2020. as people believed that they needed bigger houses in the pandemic / work from home.

      1. Sure they did. So how did they appraise?

        We recently read about some area of NYC with asking prices down double digits but the median up over 70%.

        1. So how did they appraise?

          Houses in small town Ontario are still going for 10+% over asking, with no inspection and no contingencies. Covid, WFH, escape from Toronto is still a major sideshow.

          1. How are the central planners going to herd everyone back into low carbon footprint micro apartments in urban smart cities after this?

  4. ‘there’s another $80 million price drop to report…There was avid interest from local media when the home went on the market, but no serious buyers made it all the way through the purchase’

    But, avid interest from local media?

    1. More ill-conceived:

      ‘Some projects would have struggled regardless because developers read the market wrongly or didn’t pick the right location, according to Peter Rees, Professor of Places & City Planning at University College London. ‘Brexit and Covid-19 are being used as convenient excuses for the failure of ill-conceived development project’

      So what was going on back then? Safe deposit boxes in the sky. Money laundering out the ying yang.

      1. Ahem…

        ‘the closure of the country to Chinese buyers was having a devastating effect on the local condo market. She said that 98% of foreign buyers, in more recent times, were from China and indicated that unclosed sales on up to 10,000 condos existed after Chinese buyers halted stage payments’

        1. The key question. Were these condos purchased by Chinese – for speculation and being left empty while they appreciated? If so, nothing really changed except the bag holder.

        2. She said that 98% of foreign buyers, in more recent times, were from China and indicated that unclosed sales on up to 10,000 condos existed after Chinese buyers halted stage payments’

          China has cheated the world. No country has printed more currency than the CCP, and the world refuses to acknowledge it. They take their Monopoly money and convert it to other currencies and buy up all the assets the world over.

          1. No country has printed more currency than the CCP, and the world refuses to acknowledge it.

            It does help that they are net exporters and hold trillions in non Chinese financial instruments.

          2. I’ve given up on fashion and just wear sweatpants and T-shirts from Wal-Mart. Surprising, they were made in Jordan, Egypt, and Honduras. No China.

          3. “…and hold trillions in non Chinese financial instruments.”

            …i.e., sovereign debt. “They gotcha by the balls!”

    1. New data shows scope of economic devastation in NYC during COVID pandemic (12/30/20):

      “The COVID outbreak led to the loss of nearly one in five payroll jobs in Manhattan and Queens, and to a similarly jarring loss of employment in the rest of the city, according to recently released data from the U.S. Bureau of Labor Statistics.

      In the 12 months ending in June, employment dropped 18.8% in Manhattan and 18.2% in Queens, the feds found. It decreased 15.7% on Staten Island, 14.6% in Brooklyn and 11.5% in the Bronx.

      The job loss came as the authorities shut down restaurants, entertainment venues and many other businesses deemed “nonessential” starting in March. New York City fared worse than the country as a whole, where employment decreased 9.4% from June 2019 to June 2020, according to the Bureau of Labor Statistics.”

      https://www.nydailynews.com/news/politics/new-york-elections-government/ny-nyc-unemployment-statistics-covid-20201231-dxgkberkb5aivlsqvibj6dfk2a-story.html

      Will the last taxpayer leaving New York please turn out the lights?

      1. ‘Dark period’: Killings spike in NYC amid pandemic, unrest (12/29/20):

        “Heralded as the safest big city in America in recent years, New York City is closing out its bloodiest year in nearly a decade, grappling with a surge in homicides and a pandemic authorities say has helped fuel violence.

        The city had recorded 447 killings as of Tuesday, a 41% increase over last year and the largest number since 2011. The number of people shot has more than doubled last year’s total, nearing a 14-year high.

        The spike in violence started just as the pandemic began disrupting lives and shuttering businesses, and it reached a crescendo over the summer, as the city recorded an average 57 killings per month in July, August and September. By comparison, each of those months averaged 33 homicides in 2019.”

        https://apnews.com/article/new-york-shootings-new-york-city-violence-coronavirus-pandemic-b1c52b8071219052fd713a6b83999698

        Happy 9 month anniversary of “2 weeks to flatten the curve”

          1. Some of her co-workers have also declined to take the vaccine because they’ve gone months without contracting the virus and believe they have a good chance of surviving it, she said. “I feel people think, ‘I can still make it until this ends without getting the vaccine,'” she said.

            I think a lot of people are thinking that way. And it’s not just “uneducated” deplorables.

      2. These lockdowns are a complete farce. Who the hell are we protecting that can’t be sheltered away in a manner that doesn’t affect the 99.9% that aren’t vulnerable?

        I had this crap back in March, and then I caught it again in November at the same time as my wife, 54, and son, 21. This was 3 weeks after I had major invasive colon surgery. They tested positive, yet I somehow did not.

        We all had the same symptoms. Guess what, none of us are dead. It lasted about 2 weeks then we felt fine. We must be super-human according to the MSM.

        1. Their argument is “but it could kill anybody!” BFD, so can the flu. This isn’t about the virus, it’s about control fraud and getting rid of Trump.

  5. We’ll leave the light on for you,

    Homeless Advocacy Group Occupies Family Hotel, Refuses to Pay Bill

    by Paul Joseph Watson
    December 31st 2020, 7:01 am

    A small family-run hotel already on its knees as a result of the pandemic was suddenly occupied by a homeless advocacy group which booked 16 rooms and then refused to pay the bill.

    “On Christmas Eve, a homeless advocacy group booked 16 rooms at the Travelodge Motel at 3518 Pacific Hwy. E. and paid for one night,” reports KIRO 7.

    Motel manager Shawn Randhawa told city authorities that the motel only has 10 employees and is already struggling as a result of COVID-19 lockdowns. The occupation could be the final straw that forces Randhawa to shut the business down.

    “They may have to close up shop because with no revenues coming in, with their margins where they are, they may have to close operations,” said Fife City Manager Hyun Kim. “So, I’m trying to buy some time. It starts with conversations with both sides.”

    However, the occupiers are demanding nothing less than permanent free shelter and refuse to leave, saying that the city should pay the motel bill.

    https://www.infowars.com/posts/homeless-advocacy-group-occupies-family-hotel-refuses-to-pay-bill/

  6. “But now he has put this nine-bed, 20-bath house back on the market with an ask of $99 million, along with a new team of listing agents.”

    And still not a buyer in sight.

    Try not to catch yourself a falling knife in 2021.

    1. “Today there’s another $80 million price drop to report, this time in the Bel Air neighborhood of Los Angeles. This 34,000-square foot home, built as a flip house by plastic surgeon Raj Kanodia, listed two years ago for $180 million.”

      It’s too early to say how large the price drop was. The only thing one can say at this point is that the price drop is AT LEAST $80 million. Until a buyer is forthcoming, there will be no price discovery.

  7. Is your FOJI* keeping you on the sidelines when the stock market is hitting a new high every day?

    * Fear Of Jumping In

    1. Yes, it is. In fact, I’m taking my decision to not go all in on stocks and crypto to my grave. Thus far, I have missed out on massive profits. I still think Bitcoin is a Ponzi scheme. Nothing will ever change my mind short of all world governments getting together and deciding to accept Bitcoin as the world’s currency. Pigs would fly before that happened.

      1. My greatest fear is getting dragged down in the insanity that permeates every facet of society. Moliere said it best

        Betrayed and wronged in everything,
        I’ll flee this bitter world where vice is king,
        And seek some spot unpeopled and apart
        Where I’ll be free to have an honest heart.

      2. Nothing will ever change my mind short of all world governments getting together and deciding to accept Bitcoin as the world’s currency.

        Since they and the central banks have no control over its creation, that is unlikely to happen. As the saying goes: don’t steal, the government hates competition.

      3. Governments want floaty currency they can print away to Weimar, not currency that is fixed. Since Bitcoin is limited to 21 million coins total, I don’t see them adopting it as a solid currency or a backing for currency. They might allow it to be used a medium for exchange, like Tide Pods for the rich.

        If governments want to back their currency with something, they may as well return to gold. Indeed, if you take the Bank of International Settlements seriously, they are already preparing to do just that.

    2. “Is your FOJI* keeping you on the sidelines when the stock market is hitting a new high every day?” * Fear Of Jumping In

      – OK, I’ll bite. Mostly it’s people’s psychology of FOMO and TINA. I’ve no desire to “jump in” to this ridiculously overvalued and over-hyped casino. Please don’t call these “markets.” Venezuela’s stock market is ripping, but how does that jive with their cratering Socialist economy (rhetorical)?

      https://www.bloomberg.com/opinion/articles/2020-12-28/one-number-mattered-to-global-markets-in-2020?sref=qpbhckVU
      Markets
      Only One Number Mattered to Global Markets in 2020
      The remarkable rally in risk assets this year comes down to one thing. Ask global central bankers what it is.
      By Robert Burgess | December 28, 2020, 3:00 AM MST

      When it came to financial markets in 2020, the most frequently asked question was why. Why, in the midst of a global pandemic that has killed some 1.7 million people worldwide and plunged the economy into the worst crisis since the Great Depression, did equity markets stage a historic rebound to reach new highs and become completely disconnected from reality?  And it wasn’t just stocks, as anything smacking of carrying any semblance of risk, from junk bonds to Bitcoin, had epic rallies.”

      “Everyone has an explanation for how markets performed. They range from the cerebral (markets are “forward-looking” and investors are anticipating a roaring economy once Covid-19 has been eradicated) to the cynical (just buy the dip). True, the market is always about what will happen rather than what has happened, and it’s been highly profitable in recent years to buy whenever the market pulls back. Still, neither adequately explains the jaw-dropping 66% surge in the MSCI All-Country World Index of stocks from its low in late March, the record-low yields in junk bonds, the more than five-fold increase in the price of Bitcoin or any of the other seemingly inexplicable market moves.”

      The answer is much simpler and comes down to one number: $14 trillion. That’s the amount by which the aggregate money supply has increased this year in the U.S., China, euro zone, Japan and eight other developed economies. To put the surge in perspective, the jump to $94.8 trillion exceeds all other years in data going back to 2003 and blows away the previous record increase of $8.38 trillion in 2017, according to data compiled by Bloomberg.”

      Knowing what was behind the performance of markets is only part of the story; it’s also important to understand the mechanics. The place to start is with the central banks, which were instrumental in printing the money they needed to inject directly into the financial markets by purchasing bonds and other assets on a scale never seen before. As of Nov. 30, the collective balance sheet assets of the Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England stood at 54.3% of their countries’ total gross domestic product, up from about 36% at the end of 2019 and about 10% in 2008, data compiled by Bloomberg show. The Fed alone is pumping at least $120 billion a month into the financial markets through its purchases of fixed-income assets.”

      – The Fed and other CBs pulling $Ts of $ out of their a$$es isn’t the same as earned income $. This is fantasy $. It’s created ex nihilo, out of thin air. Debt isn’t wealth; it only pulls demand forward from future consumption and investment. History is littered with the corpses of those governments that used a centrally-planned, command-and-control economy to run their country, aided and abetted by nefarious CBs. I’m sure it will end will this time too. 🙂

      – Best wishes for the New Year, but watch your financial back. RPE.

  8. If this happened to Mary Ann I wonder what kind of financial shape the other 82 year-olds are in this country?

    Dawn Wells, Mary Ann on ‘Gilligan’s Island,’ Dies at 82

    11:11 AM PST 12/30/2020 by Paul Bond

    In August 2018, Wells took a fall and revealed that she was having difficulty paying for the two months of hospital rehabilitation that she needed. She said she was flabbergasted when folks raised $197,000 for her in a month after a friend created a GoFundMe page.

    “I am amazed at the kindness and affection I have received,” she told Fox News. “I don’t know how this happened. I thought I was taking all the proper steps to ensure my golden years. Now, here I am, no family, no husband, no kids and no money.”

    https://www.hollywoodreporter.com/news/dawn-wells-dead-mary-ann-gilligans-island-was-82-1149549

      1. I was wondering about that, and if it was just a scam she came up with to raise some cash to pay other bills. In the end it doesn’t matter, though I wonder if her wholesome girl next door image was a complete farce.

        1. I wonder if her wholesome girl next door image was a complete farce.

          I don’t know. Isn’t every promotional public image/persona a farce to at least some degree?

          1. Isn’t every promotional public image/persona a farce to at least some degree?

            Of course. But she’s gone now, having her final Andy Warhol moment, and will soon be forgotten.

            I wonder how many teens today know who Orson Wells was or have seen Citizen Kane.

          2. Isn’t every promotional public image/persona a farce to at least some degree? The vast majority of us all share in this farce. We all present our persona to those we meet in everyday life. It’s all show biz, in other words.

    1. The only place I’ve seen emojis used at work is on Slack, and they are usually of the smiley face variety.

    1. I just looked at the weather forecast for Minneapolis, not gonna get above freezing for daytime highs and overnight lows in the teens for the next few days.

      Not the best weather for looting, but there’s always arson to help stay warm…

      1. “…weather forecast for Minneapolis…”

        It is remarkable how many dark complexioned people withstand the freezing Minneapolis winters. I occasionally worked with an IT guy from India who eventually moved his family to the Seattle area from the Columbia Basin because they just couldn’t adapt to our long subfreezing winters. He carefully described in detail the dark skin vs freezing weather issue, which was both physiological and psychological.

        1. It is remarkable how many dark complexioned people withstand the freezing Minneapolis winters.

          I suppose that the Gibs are more generous there than say in Alabama or Mississippi.

          1. refugees from Somalia

            Being Muslims they probably wouldn’t fit in at all in the deep south, while Minnesota bent itself backwards for them. I seem to recall reading about footwashing facilities set up in the airport for Somali taxi drivers.

  9. Who would be threatened by Trumps ” Make America Great Again”, but forces intent on overthrow for their self serving interest who want to loot and weaken the USA.
    I think this power grab is a bit premature because they hadn’t brainwashed enough people yet, or they wouldn’t of needed to rig the election and control the news.
    This is warfare and the power grabbers are enemies of the State. If they can take over from within they don’t have to engage in a military battle.

    1. “This is warfare and the power grabbers are enemies of the State. If they can take over from within they don’t have to engage in a military battle.”

      “The future ain’t what it used to be.” – Yogi Berra

      “It’s like déjà vu all over again.” – Yogi Berra

      “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” – Thomas Jefferson


      “And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that. All power corrupts; absolute power corrupts absolutely.” – Lord Acton

      “A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly.” – Marcus Tullius Cicero, 106-43 BC

      “When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.” – Frederic Bastiat

      “People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.” – John Kenneth Galbraith

      Malo periculosam, libertatem quam quietam servitutem. [translation: “I prefer the tumult of liberty to the quiet of servitude.”] – Thomas Jefferson to James Madison, January 30, 1787

  10. COVID-19 outbreaks at Colorado’s 2 In-N-Out restaurants grow to 122 employees

    I’m sure everyone who works there wears a mask. So, how did this happen?

      1. It’s right there in the name.

        We had a joke in the army band field in the 80s when they started testing soldiers for HIV. “In the band you only need to test one”.

  11. My question would be ,”Is any of the 122 workers actually sick?” And do they have to go home in spite of not being sick?
    Again, if the Covid-19 test isn’t accurate ,than this is just a fraudulent and malicious con job.

    1. Quite possible, especially considering that the two burger joints did not close.

      I saw a sign at the local Safeway, announcing home Covid tests, with results in 48 hours (not sure about the cost, I did not inquire). For a split second I was curious, wondering if perhaps I was one of those symptomless people. But my confidence in the test is lower than a submarine’s basement, so I didn’t bother.

  12. Another violent far-left riot in Portland last night.

    2021 will be the year of the collapse of this and other cities that refuse to protect the lives and property of their taxpayer citizens.

    No more property taxes, no more income taxes, no more sales taxes for you. Nobody wants to live there, everybody with money is leaving.

    Enjoy your collapse into third world squalor, it’s what you voted for.

    1. Enjoy your collapse into third world squalor, it’s what you voted for.

      Having a judiciary controlled by officials affiliated with a criminal enterprise masquerading as a political party yields predictable results.

      Charged with murder, stabbing? In NYC, you’re free to go

      https://nypost.com/2020/12/29/charged-with-murder-stabbing-in-nyc-youre-free-to-go/

      Criminal-justice “reform” in New York has turned our courts into a merry-go-round, with violent offenders free to jump off at will.

      The latest outrage took place in The Bronx, where 16-year-old Jordon Benjamin allegedly stabbed Amya Hicks in mid-December. Arrested a few days later, he was charged with felony assault and assorted lesser charges. Amya Hicks needed surgery and spent several days in the hospital. Benjamin was less inconvenienced: He only spent a few hours in a holding cell before being released on his recognizance, without having to post bail.

  13. 2021 will be the year of the collapse of this and other cities that refuse to protect the lives and property of their taxpayer citizens.

    To everyone who cheered on the end of 2020, please be advised that the movie “Mad Max” was set in 2021.

    1. I read somewhere that the Portland PD is asking citizens to help them fight crime.

      In Soviet Portland you don’t call the Police, the Police call you.

      1. In Soviet Portland you don’t call the Police, the Police call you the BLM and Antifa beat, burn and rob you. FIFY.

  14. Happy New Year to Ben and the wonderful group of people that post here. Even you Mr Banker, he he he.

  15. Thousands of North Koreans gathered in Pyongyang’s main square to spell out a slogan seen from outer space. While initially they spelled out “to defend with one’s life,” a much larger crowd gathered later to spell out “Realtors are liars.”

    https://sputniknews.com/asia/202101011081625172-north-koreans-form-huge-slogan-seen-from-space-ahead-of-party-congress-claims-monitoring-website/

    Thousands of people were observed at Kim Il Sung Square apparently practicing for an upcoming event—those in formation spelled out “결사옹위,” which means to defend with one’s life.

  16. People all over the World don’t really want TOP DOWN control of their lives.
    People know what their needs and self interest are, and TOP DOWN control never delivers, it’s just a big Con job by the POWER MONGERS.
    Do you want a Globalist Monopoly or a creep like Bill Gates running your life, or worse yet a Foreign enemy.
    This is not what the US Government was founded on, but the Government was corrupted by these forces.
    Washington DC has just become so betraying to the US Citizen that most of them need to be purged. But they are going to prevent that by rigged elections no doubt if it isn’t stopped .
    The forced narratives from the fake news are so ridicules that it’s insulting. So, they own the news and a high percentage of Washington DC. and other institutions.
    I believe that the Trump election made them show their true colors like never before. They have to lie, cheat and just make up shit 24/7,but they are the ones that are screwing up the US, and destroying people’s lives with their agendas.

    1. People all over the World don’t really want TOP DOWN control of their lives.

      I hate to say this, but I know a lot of people who are A-OK with that. And if they are, they are fine with rigged markets and having .gov chose who will be the winners. These are the people who are screeching for their $2000 check and other enhanced gibs. They are not demanding that the economy be reopened. They are perfectly happy to stay home, order Wendy’s for delivery and play XBox all day.

      Meanwhile, my unvested RSU’s appreciated 20% last year.

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