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What Seemed Like A Surefire Investment Now Weighs On The Wallets Of Owners

A report from Mansion Global on New York. “Of the 16 contracts signed on homes asking $4 million or more in the week ending Sunday, seven were for trophy homes with eight-digit price tags, according to a luxury market roundup from Olshan Realty. Big price cuts continued to lure in buyers. The average luxury home last week was discounted 18% before going into contract. The second-highest deal was for a two-bedroom apartment at The Ritz Tower. The sprawling unit went into contract asking $24.5 million—down nearly 38% from its original $39.5 million asking price.”

From Patch Massachusetts. “Did you see our story on Tewksbury’s most-expensive house listing last week and decide $4 million was too much for you? Well you’re in luck: the price dropped $1 million in the two weeks since.”

The Los Angeles Times in California. “Herbet Wertheim must’ve really liked what he saw in Rancho Santa Fe. He just dropped $23 million on a 33-acre estate. The posh community’s previous record had stood for two decades after a 25-acre estate just down the street traded hands for $22 million in 2000, records show. He tried to sell the place for $60 million in 2015, but with no takers, ended up donating it to UC San Diego. The school’s governing board soon put it back on the market, most recently offering it for $30 million in September.”

The Denton Record Chronicle in Texas. “The evidence overwhelmingly points to a housing bubble in North Texas. The only real question is the severity of the disconnect. It is worth noting that Denton County has 16,000 fewer people with jobs. It would be easy to assume that anyone selling a home in the current market must be making money. That’s not exactly true. Over on the north side of Denton in the community of Beaver Creek, one unfortunate home seller apparently unloaded a home in 2020 for over $10,000 less than what they paid in 2017.”

“This LGI Homes community has a heavy investor presence. One of Wall Street’s biggest landlords, American Homes 4 Rent, owns 49 of the 339 properties in the neighborhood. When you leverage up to purchase a home with no money down, it can be tough to sell your home later when owner occupancy levels are low relative to the surrounding market.”

From SW News Media in Minnesota. “Joseph Boehmer personally owns and rents out six properties within Scott County with eight total tenants. He also manages approximately 80 properties throughout the metro area spanning into Carver, Washington, Hennepin, Le Seur and a few other counties. A couple of his tenants are just a few weeks behind as they’re now receiving smaller unemployment checks and three of them haven’t paid their rent since the shutdowns in March, he said.”

“‘You’re talking five months of trying to pay your mortgage while you’re not receiving any money,’ Boehmer said. ‘There’s no recourse.’ If a tenant’s unable to pay rent, he takes on the late charge from his mortgage company.”

“‘I’m going to take a hit and make sure my tenant doesn’t see it or recognize it because I can’t keep piling stuff. It’s kind of like a credit card situation, if you just keep piling stuff on them they’re eventually going to quit. It’s one of those things where you just kind of give up and then what do we do? We’re at the point of no return,’ he said.”

From Bisnow Washington DC. “An Alexandria office building has sold to a buyer that plans to turn it into condos, the latest in a string of office-to-residential conversions in Northern Virginia. The buyer plans to convert the vacant office building into a 54-unit condo project. The project is one of at least seven office-to-residential conversion projects to move forward in Northern Virginia over the last two years. The most recent one came Monday, when PRP announced it closed the financing to convert the office building at 4900 Seminary Road in Alexandria into 213 luxury apartments.”

“Northern Virginia has led the region in the office-to-residential conversion trend, as it has a large number of old, vacant office buildings with a relatively low cost basis, but experts say rising vacancy in the District could spur more conversions in the downtown office market.”

From Multi-Housing News. “The self storage sector ended 2020 on a high note, with notable improvement in street rate performance across the country. Although development activity maintained a steady pace across the country in December, a total of 23 projects were abandoned. The growing number of abandoned projects might be a sign of a slowdown in construction activity, although this might help oversupplied markets to restore the balance between supply and demand.”

The Globe and Mail in Canada. “Apartment vacancy rates in Toronto hit a record high late last year, spiking to 5.7 per cent as demand weakened during the pandemic and sent monthly rents tumbling. All that occurred as a record number of new condo units were completed and Airbnb hosts converted their spaces to long-term rentals when tourism evaporated. Toronto’s ultralow rental vacancy rate and soaring home prices had pushed real estate companies to develop condos and apartments. Last year, 23,000 new condo units were completed in the Toronto region and 22,434 are due this year, according to Urbanation. Many more are in the pipeline.”

From Remax Canada. “A year ago, the monthly rent for a typical one-bedroom apartment or condominium in the Toronto real estate market was among of the highest in the world. What a difference a year makes, showing just how quickly a lucrative market can change almost instantly. Mom-and-pop investors have been walloped by the coronavirus pandemic that sent rents plummeting. What seemed like a surefire real estate investment, now weighs on the wallets of condo owners who are looking to rent or sell their units. Many are forced to decide if they can afford to pay more on their mortgage than they collect in rent, or sell the property and endure a loss on their investment.”

“As condo towers dominate Toronto and Vancouver’s skylines, tens of thousands of these units are sitting vacant during the COVID-19 public health crisis. Indeed, there might be light at the end of the tunnel, but if the economy fails to recover or the pandemic does not diminish by the summer, the vulnerabilities in Toronto real estate could be exposed.”

From Edgeprop Malaysia. “Industry leaders do not foresee the property prices continuing to move downwards as current price has bottomed. Real Estate and Housing Developers Association Malaysia (Rehda) Malaysia president Datuk Soam Heng Choon said the current property price has ‘hit the rock bottom.’ ‘The selling price now is the result of the input cost made of the spiking building material price and additional cost incurred due to the pandemic. All developers want a quick sale so that they can pay the contractors and so on to move the business,’ he said.”

“Also taking part in the session were Malaysian Institute of Architects (PAM) president Datuk Ezumi Harzani Ismail and Master Builders Association Malaysia (MBAM) deputy president Oliver Wee Hiang Chyn. Ezumi concurred that current property prices are affordable as the pandemic has already adjusted the market. ‘Whatever that is overpriced will not work anymore. The pandemic has adjusted the market and what we have now in the market is affordable and matches the income level of the local buyers,’ he shared.”

“Wee stressed that the property price may not reduce to the level which the market wishes for. ‘The selling price is a reflection of the additional construction cost due to the pandemic,’ Wee said.”

From Domain News in Australia. “A glut of vacant inner-city apartments once used as short-term accommodation has helped push Melbourne rental prices to a four-year low, with new figures showing more than half the short-stay listings in the CBD were withdrawn in the last year. And city agents are warning owners to take any tenant they can get now rather than hoping for a pick-up in demand for short-stay letting.”

“As many owners offered empty units for long-term lease, residential rents in the CBD fell by 27.3 per cent in the year to December, to a median $400 per week, on Domain data. Residential vacancy rates in inner-city Melbourne spiked to 14.1 per cent in December, up from 3.3 per cent a year earlier – the highest rate in the country.”

“Pawan Sinha runs a short-term rental business and has been forced to slash the number of properties he manages from 112 to 60 in less than a year. ‘I had 112 apartments before COVID started that I was using for short stay. One of the operations [in a South Yarra building] we had to permanently shut down,’ said Mr Sinha, who is also is a Victorian director of the Australian Short Term Rental Association.”

“‘The irony is most of those apartments are still available for lease. Releasing [them] to the rental market is not helping [landlords],’ he added. Operators who had taken up residential leases were in a ‘difficult situation’ according to Mr Sinha. While he had been able to secure some rent relief he was unable to request rent reductions or grants available to residential tenants due to the property being used for commercial activity.”

“As a result, he’s been forced to return the keys for many properties to agents with unresolved disputes over rent owing, resulting in 26 cases pending before VCAT, with the properties then being re-listed on the longer-term rental market.”

This Post Has 76 Comments
  1. ‘He tried to sell the place for $60 million in 2015, but with no takers, ended up donating it’

    He did give it away.

    1. He did give it away.

      I wonder what kind of tax write off he got for it? I suspect that since he donated it to UCSD there was probably a special deal.

      1. Wertheim was the buyer at $23M. The donor was a founder of Qualcomm who built the place in 2008. He tried to sell for $60M in 2015. It didn’t sell so he gave it to UCSD who listed for $30M in Sept. and eventually sold for $23M.

        The donor gets a charitable deduction for the fmv of non-cash property, i.e. it isn’t tied to the donor’s basis. He’s likely at the top tax rate for both US and CA, so combined 50%. Depending on what it appraised for, say $50M, his contribution would be worth ~$25M.

        1. ay $50M, his contribution would be worth ~$25M

          Which is much less of a headache than actually selling the property.

        2. I’m not saying you’re wrong or being critical in any way, however, I read the words you wrote and conclude that it’s a conclusion based on nonsense.

  2. ‘he’s been forced to return the keys for many properties to agents with unresolved disputes over rent owing, resulting in 26 cases pending ‘

    I think they called this arbitrage.

    ‘‘The irony is most of those apartments are still available for lease’

    Yer fooked Pawan.

  3. ‘A year ago, the monthly rent for a typical one-bedroom apartment or condominium in the Toronto real estate market was among of the highest in the world’

    Gosh, I hope no one overpaid for this sure fire investment. I can imagine the UHS who wrote this getting an email: “you dummy!”

    1. Or you could double down (is that poker or blackjack?). A 7.4% increase Y/Y could be considered large in a regular year – but it is ginormous in a pandemic year with unemployment over 10%.

      —-
      Statistics Canada said Tuesday that household mortgage debt increased 7.4 per cent in November compared to a year earlier, pushing the total up to nearly $1.66 trillion.

      The year-over-year pace of mortgage growth for November surpassed that of October (6.9 per cent), September (6.5 per cent) and August (6.1 per cent). It was also greater than that of any other month in 2020, as well as the 4.3-per-cent growth seen in the pre-pandemic month of Nov. 2019.

  4. ‘on the north side of Denton in the community of Beaver Creek, one unfortunate home seller apparently unloaded a home in 2020 for over $10,000 less than what they paid in 2017’

    Wa happened to my red-hotcakes? If you’ve never been up there, they can throw up shacks til they hit Oklahoma. And then start again on the other side of the Red River.

    1. they can throw up shacks til they hit Oklahoma

      There aren’t enough people in the whole country to fill that many houses.

  5. ‘An Alexandria office building has sold to a buyer that plans to turn it into condos, the latest in a string of office-to-residential conversions in Northern Virginia’

    They need more condos like a hole in the head.

    1. I am assuming that rentals need more water and sewer capabilities, than office buildings – so they will need to address that.

      I am guessing that it would only work if they create Loft units – and sell it at medium (not luxury) prices. But of course they wont

    1. “a $15,000 first-time homebuyer tax credit”

      These are not home “buyers” they are subprime borrowers.

    2. “Here it comes….”

      Biden looks to give a big boost to homebuyers and builders
      Published Tue, Jan 19 20212:39 PM ESTUpdated Wed, Jan 20 20217:51 AM EST
      Diana Olick

      Key Points

      [1] [Sleepy, creepy Joe] Biden is proposing a $15,000 first-time homebuyer tax credit, which could be accessed immediately by the buyer, thereby serving as down payment assistance.

      [2] The FHA could also reduce its monthly insurance premiums under the new leadership.

      [3] And then there is the elephant in the room — mortgage rates, which are now on the rise.

      – Do we really need additional housing market stimulus? Do we need to continue blowing housing bubble 2.0 to even more inflated levels? (Rhetorical). Mortgage rates have only gone up a little, and are still at record lows. Will rates ever be allowed to rise? YCC is coming if there are any issues, since our extremely debt-burdened economy “can’t handle the truth” of r* (the natural rate of interest). The centrally-planned, command-and-control economy continues apace.

      – Apparently we’re still targeting the “wealth effect” of growing asset bubbles in stocks and housing, which continues to only increase the great divide in wealth between the haves and have-nots. I guess we’re not yet to the “let them eat cake” phase yet… Moar asset price inflation. Must insure aspiring debt donkeys have every opportunity to climb on the ladder/hamster wheel, even if DTI and FICO are “out the window.” The taxpayer will always be there to backstop them. Absolutely no moral hazard here. /s

      https://www.bankrate.com/mortgages/todays-rates/30-year-mortgage-rates-for-monday-january-18-2021/
      Mortgages
      30-Year Interest Rates for January 18, 2021 | Rates go up
      “The average rate for a 30-year fixed-rate mortgage is 2.89 percent, up 2 basis points [0.02%] over the past seven days.”

      Average annual 30 year fixed mortgage rate, 2012-2019
      Year Average 30-Year Fixed Annual Rate
      2012 3.88%
      2013 4.16%
      2014 4.31%
      2015 3.99%
      2016 3.79%
      2017 4.14%
      2018 4.70%
      2019 4.13%

      https://twitter.com/LizAnnSonders/status/1351866845834473472
      Liz Ann Sonders
      @LizAnnSonders
      Median home list & sale prices have continued to accelerate swiftly since bottoming last year @Redfin
      @DataArbor
      5:19 AM · Jan 20, 2021·Twitter for iPad
      [See chart]

  6. I’m going backwards — 2020 college graduates are feeling stuck:

    “Before graduating, one of my professors said ‘Oh there’s a lot of jobs out there, don’t worry.’ There’s a lot of startups and hedge funds who are backed up and need help, but then all of a sudden COVID-19 hit and then there were significantly less jobs,” said Bryant Candia, a marketing graduate of San Francisco State University. “We were all very optimistic about us graduating and finding jobs, but now it’s been even more difficult to find a job.”

    “Applying for jobs takes a toll on me emotionally,” said Manuel Rendon, a sociology graduate from California State University East Bay, who temporarily moved back home with his parents in Central California to save money. “I usually get that rejection that says I won’t be considered for the position but that they’ll keep my resume on file, and yet I won’t hear back. You move on from the first interview, but then you don’t get the second one. You have to keep applying.”

    “I feel less hopeful now with the pandemic. It changed everything,” said Kayla McGrogan, a marketing graduate from San Jose State University. “It’s been hard for me to find a job in marketing, at least. I’ve gone back to my old retail job right now. I feel like I’ve gone backwards. I feel like I’m still in school but without any school responsibilities.”

    “My goal is to just find a more meaningful job because I feel like I’m past that part of my life,” she added. “I don’t know where to go or where to turn.”

    https://www.sfgate.com/education/article/I-m-going-backwards-2020-college-15856543.php

    No “pent-up demand” for $500,000 starter homes happening here.

      1. Hospitals, healthcare and other NGO/non-profit welfare outfits that do foster home work, homeless outreach, family support for terminal patients (think cancer) and roles along those lines.

        If you don’t hold an advanced degree, like a MFT, the pay is pretty poor. I have some distant relations that are doing that stuff.

        1. That sounds more like work for people with “social work” degrees. Don’t sociologists study larger trends, like historians?

          I suppose sociologists could be HS teachers, but that’s .gov

        2. It’s a fact that those students who graduate into a recession (or worse) will never advance through their career or earn the total income of those who are interviewed during a campus job-fair and hired right out of college.

    1. Marketing is the easiest and most worthless degree in Business.

      I was watching some videos on international stuff last night. One on Thailand said they usually get 3.2 million tourists in the high season (our winter). This year they got 400 a month. Tourism was 20% of their GDP.

  7. This was posted by Red Pill Economics yesterday, but it bears repeating:

    ‘IMHO, the global housing industry (REIC) is only a snapshot of the systemic problems in the larger, and encompassing finance, insurance, and real estate (FIRE) complex, which in turn, is symptomatic of the high levels of corruption, graft, crony-capitalism, and growing wealth concentration in government. The elite, ruling classes, are burying the facts in MSM narratives, and stealing elections in order to maintain and grow their power. There are no limits to their nefarious actions. Populism and rebellion continue to gain ground, but sooner or later, “the wheels come off the bus.” Duct tape and bailing wire, and all of that, when the real issue is that “the emperor has no clothes.”

    Here’s an epic rant from Dylan Ratigan from way back in 2013 which highlighted the problem then:

    https://www.youtube.com/watch?v=Rx4MxOUU0Ys

    1. Old Yellen suggests curtailing use of cryptocurrencies due to “terrorism concerns.”

      http://laissez-fairerepublic.com/TenPlanks.html
      The Ten Planks of the Communist Manifesto
      1848 by Karl Heinrich Marx [Unfortunately, not Groucho Marx 🙂 ]

      “Plank 5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”

      – Sorry, my BS detector is flashing red. Old Yeller doesn’t want any competition to the CB dollar monopoly. Don’t worry though, because Congress has got this. Hello? Anyone? Bueller? 🙂

      “The last duty of a central banker is to tell the public the truth.” – Alan Blinder, former Vice Chairman of the Federal Reserve, 1994 on the PBS Nightly Business Report

      “The first duty of a man is to think for himself” – José Martí

      1. Old Yeller doesn’t want any competition to the CB dollar monopoly.

        Never confuse Old Yeller, the heroic dog, with Old Yellen, an arch-fiend.

        1. Tell that to all the people who have had their cash confiscated and couldn’t get it back.

          Sure, there’s no law against hoarding Benjamins, but since it can so easily be seized by the police, it is defacto illegal.

        2. It’s already a crime to have a few thousand in cash on you.

          In Colorado is referring to Civil Asset Forfeitures. This is where the police can decide that your money “might” have been gained via an illegal activity and confiscate it. The police don’t actually have to charge you to take your money. Then you have to sue them to try and get it back. (Not an attorney just what heard and read)

          1. This is correct.

            It was a big thing right after Colorado legalized recreational weed. Lots of of people conducting legitimate business with cash got caught up in the cash grab, not just people making the return trip to CO with cash after moving pounds of weed out of state.

          2. Being accused or charged with a crime and committing a crime are two very different things. Again, carrying cash is NOT a crime.

        3. Again, carrying cash is NOT a crime.

          Of course it’s not actually a crime. But good luck defending yourself and getting your cash back if you are suspected of a crime and get your cash confiscated.

    1. Very, very long time lurker, first time poster, and only decided to post, because, for the first time in two decades, you reminded me of the Subhumans. I’ve always though that this album best defined the punk genre. Like if someone asked me for one punk album to describe all of punk, this album would be it.

      Sure the Sex Pistols were the most famous, and the Dead Kennedys perfected it, but this Subhumans album probably best captured the rawness garage band punk of the era. It is too bad Punk is Dead, because it is for anyone under 40, but that short lived movement was pretty cool.

  8. “The Denton Record Chronicle in Texas. “The evidence overwhelmingly points to a housing bubble in North Texas. The only real question is the severity of the disconnect. It is worth noting that Denton County has 16,000 fewer people with jobs.”

    [Link in this HBB post]
    Denton County housing bubble running out of oxygen
    By Aaron Layman 21 hrs ago [ Jan. 19, 2021 ]

    Denton home sales shot up 31% in the month of December. The median price of a Denton home rose 10.7% to a record $285,900. Average prices were up 12.9% to $307,368. The city of Denton now has less than a month (0.9) of supply at the current pace of sales. If you are looking at area home prices on a per-square-foot basis, the numbers are even more bubblicious.

    While home prices in Denton County managed to hit new highs, the supply of resale homes on the market crashed to just 0.6 months. There’s barely a half month of existing home supply in Denton County Texas as of December. Overall supply is down to just 0.8 months. Median and average home prices in Denton County were up 9.2% and 9.8% respectively.”

    Denton County is a perfect example of what happens when your central bank blows an asset bubble in the middle of a global pandemic. While driving sales and prices through the roof, available inventory has crashed. Both closed and pending home sales are falling off in Denton County because inventory is flying off the shelves. Closed sales were up 7% last month, while pending sales were roughly 6% higher.”

    “Many first-time home buyers are feeling dazed and confused with the rampant inflation in the housing market. Home sellers, on the other hand, have never had it better as the Federal Reserve continues to enrich existing asset holders.”

    New home builders are doing their best to meet the demand for affordable new homes, but there’s only so much you can do when the Fed has torched the markets with $7.3 trillion in liquidity. Cheap land is a distant memory, and so builders keep shrinking lots and homesites to maintain the illusion of affordability. Even with the record low rates we experienced the past few weeks, the affordability pitch is getting harder to sell.”

    “The North Texas housing bubble is now a bonfire looking for more oxygen. During the first week of the new year, we saw a bevy of Federal Reserve officials calling for more inflation in the economy while home prices were posting double-digit year-over-year gains. The inflation Fed officials keep asking for has already arrived in spades for the North Texas housing market. Ramping the Fed’s balance sheet up by over $3 trillion in a single year was the easy part. Now comes the hard part. What will the Fed do for an encore with rates in the basement? The Fed is still gobbling up $120 billion per month in Treasuries and mortgage-backed securities to keep the veneer from falling off the frame.

    There are now dozens of big institutional players in the single-family leasing game. This was the result of horrible housing policy following the Great Recession when over 9 million Americans lost their homes to foreclosure. After being bailed out by the Fed, private equity and other big institutions swept in and snatched up many of those homes on the cheap.”

    “In 2020 we experienced another round of upward wealth redistribution in the housing market as the Federal Reserve once again bailed out wealthy investors while leaving many individuals and small businesses with inadequate resources to survive.”

    “Helping the poor is not more challenging, it’s just not a priority. Many of our “representatives” in Congress choose to distribute aid disproportionately at the behest of wealthy donors. The growing number of millionaires in Congress creates conflicts of interest and “representation” that is often skewed. Too many politicians in DC choose to not understand the problem while the Fed doesn’t seem to care at all about the destruction of the social fabric caused by their trickle-down policies.”

    – Spot-on commentary that you generally won’t find in the MSM, but fortunately will find on the HBB. As they say, “Read the whole thing.”

    1. agreed – great article find with good observations.

      It would be interesting to see if there is a corresponding increase in new housing starts.

      1. So what’s going to be the new debt to income ratio? Will it be acceptable to spend 50%+ of gross on servicing the mortgage?

    2. “New home builders are doing their best to meet the demand for affordable new homes, but there’s only so much you can do when the Fed has torched the markets with $7.3 trillion in liquidity. Cheap land is a distant memory, and so builders keep shrinking lots and homesites to maintain the illusion of affordability. Even with the record low rates we experienced the past few weeks, the affordability pitch is getting harder to sell.”

      These central bankers are totally out of control, and they are indicating more and more trillions. I have no idea why gold hasn’t rocketed.

      This whole game is to protect the wealth of the hundred millionaires and billionaires. These people are living high on the hog like never, ever before.

      I’ve given up on any meaningful change of policy until some even forces their hand – a currency collapse, rioting the likes we’ve never seen, etc. Apparently the outrageous homelessness isn’t an indication to them that anything is wrong. These people want everybody living in a cage like in Hong Kong, apparently.

      1. I’ve given up on any meaningful change of policy until some even{t} forces their hand – a currency collapse That class of event is a complete overturning of a way of life, far beyond any mere change of policy

    1. [thanks for finding]
      very scary and could cause major issues across Asia and indeed the world if they dont get it under control. I wonder how much of this ‘value’ was taken out of China by individuals to buy properties and stock in the Western world.

      “If a developer crosses all three red lines, its total debt level would not be allowed to increase any more,” said S&P Global Ratings’ director Esther Liu, adding that only 6.3 per cent of all rated Chinese developers can comply with the limits. “This means the developer cannot borrow more from banks or other financial institutions if its existing debts have not been paid, or if its overall leverage has not improved.”

      The real estate and construction industry contribute to about 29 per cent of China’s economic output.

  9. Hadn’t heard from the GOP/RNC in a week after daily emails with surveys and solicitation for $$ for a year leading up to the election. Not a peep.

    Today, within 5 minutes after installation of the appointed President, I get an email from GOP.

    ———————————————————————————-
    xxxxxxxxxxxx,

    Today begins a new chapter in our Country.

    While the Left promises to implement their Big Government Socialist Agenda, the Republican Party will need to come together and work even harder if we’re going to continue putting America FIRST.

    The Democrats have control of the White House, the Senate, and the House, and our Party will be relying on you now more than ever. YOU are going to play a vital role in our efforts to preserve all of our historic accomplishments over the last four years, and it’s critical that we have your support.

    We need your help to send a STRONG message to the Left that Patriots, like YOU, stand with the Republican Party 100%.

    —————————————————————————————–

    FUUUUUUUH-Q

    Meanwhile….

    https://www.newsmax.com/politics/patriot-party/2021/01/19/id/1006346/

    1. “WSJ: Trump Has Talked of Forming ‘Patriot’ Party”

      What he needs is a voting machine company that has a contract with the swing states.

      1. TR didn’t pull it off. Instead, he acted as a spoiler to Taft, putting Democrat Woodrow Wilson into office. But TR got a nice souvenir bullet out of it, which he carried within him life.

      2. “Can DT pull off a TR?”

        – Ha! Ha! They say that history doesn’t repeat, but it does rhyme! (Mark Twain). I’m a fan of Teddy Roosevelt.

        – What we have now is similar to The Gilded Age 2.0 with high tech trusts and monopolies, oligarchs, plutocrats, etc. seriously needing to be busted up. Unfortunately, we also have way more debt, a more powerful Fed (Oz?), and an even more corrupt “Republi-crat” party. The Deep/Administrative State wants to continue with the status quo, while The Swamp still needs draining. A third party that challenges the deeply entrenched bureaucracy inside the beltway would be most welcome, but those in power aren’t going to give it up easily. Another outsider running on a third party ticket, the “Les Deplorables” party, for example, would fit the bill for at least 74M voters.

  10. Last night part of an archived thread was posted on 4chan that seemed to predict at least part of what was going to happen with regards to the election and Biden, and now the talk of combatting so-called domestic extremism and white supremacy.

    I found the archived thread from October 17. Can this be altered? Because if not, the original poster seemed to know what was going to happen, and thus privy to the information.
    The media’s complete lack of election fraud coverage along with their lies about the Capitol protest (complete with agent provocateurs), lend credence to the comments.

    https://archive.4plebs.org/pol/thread/283094018/

    If this is all legit, then the question is who is behind all of this?

    From the thread:

    “The election results won’t be announced the night of because of the mail-in counts. Will be a tense period. Biden will be ‘announced’ as the winner. (He’s obviously not the winner and you will all know that.)”

    “It is also part of the point to make you feel that Biden is not the winner, he’s clearly not. You are supposed to feel that way, so that you act. It is psychological. The thinking is that the one factor which will force the right to get violent is if they can no longer rely on voting itself. It is within that context, and of feeling a coup has removed Trump and installed Biden, that white supremacist terror attacks will be blasted all over the news.”

    “My GUESS is that Trump’s role will initially be to encourage action. But then he and most conservatives will end up disavowing once the white supremacist terror factor emerges.”

    Lucky guesses? Altered? Not sure what to make of this.

  11. Below is the response Biden’s pick for assistant health secretary, transgender doctor Rachel Levine would get from a father making a healthcare decision for his family after “she” sent Covid19 patients to nursing homes and infecting others while taking “her” own Mom out of one and putting her in a hotel while “she” was Pennsylvania’s secretary of health.

    https://youtu.be/1b2OVCn5xI0?t=9

    1. If Dr. Richard Levine’s skeleton were to be exhumed centuries from now forensic scientists would identify it as male.

      1. Exactly. Because mutilating flesh and applying make-up and changing your personality due to mental illness does not change your gender.

    1. “Leftist protesters wreaked havoc on the streets of Portland Wednesday evening, smashing windows at the state’s Democratic Party headquarters while chanting anti-cop slogans, according to police and a local report.

      Eight protesters were arrested on a range of charges as hundreds of black-clad demonstrators marched in the northeast section of the city, the police department said.

      Some of the arrests were related to vandalism at Oregon’s Democratic Party headquarters, where protesters shattered windows and defaced the building, the police said.”

      https://nypost.com/2021/01/20/leftist-protesters-wreak-havoc-confront-cops-in-portland/

    2. “Are the DNC’s Antifa Red Guards starting to slip the leash?”

      Without the Soros funding a mouse fart will make more noise than Antifa.

      1. I seem to recall that BLM raised $11B in 2020. That is quite a war chest for urban unrest.

        It will be interesting to see what happens the next time a vibrant gets shot by a cop. I do expect the MSM to do its best to memory hole it, even if there are riots.

  12. Infowars.com
    January 20th 2021, 5:25 pm

    ‘It’s a big club — and you ain’t in it!’

    A creepy new video compilation features numerous world leaders repeating the mantra “Build Back Better,” in a transparent effort to brainwash humanity into accepting The Great Reset.

    Roosh
    @rooshv
    ·
    21h
    It’s a big club, and you ain’t in it.

    https://twitter.com/rooshv/status/1351745397253931017

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