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If Sellers Keep Dropping Their Prices, It Can Start A Downward Spiral

A report from the Bay Area Newsgroup in California. “A federal court has authorized a receiver to seize control of the properties and operations of bankrupt Bay Area developer Sanjeev Acharya and his real estate firm, which are the focus of a wide-ranging fraud case launched by securities regulators. Receiver David Stapleton of Stapleton Group was ordered by U.S. District Court Judge Susan Illston to take over all of the assets of Acharya and the company that he heads, Silicon Sage Builders.”

“The action further undermines Acharya’s real estate empire in the Bay Area, a meltdown that came to light in December when the Securities and Exchange Commission filed a fraud complaint against Acharya and Silicon Sage Builders. ‘The SEC has submitted extensive evidence, including investor declarations, showing that defendants have likely engaged in fraud with regard to the offer and sale of securities,’ Illston wrote in a court order posted on Feb. 10.”

“An estimated 250 people who paid about $119 million to invest in projects launched by Acharya and Silicon Sage Builders face the prospect that they were defrauded through a financial web woven by the real estate developer, according to the SEC’s complaint.”

From Fintech Zoom on New York. “In a sign of the increasing pressure faced by Manhattan’s condo developers, the Elad Group is selling a large block of the remaining units at its Hell’s Kitchen new development for roughly $90 million. It’s believed to be one of the first big new-development bulk condo deals of the cycle, and could foreshadow more deals of its kind as sponsors look to move on from challenged projects.”

“Elad, headed by Israeli businessman Yitzhak Tshuva, is in contract to sell 70 units at its Charlie West tower to Tishman Realty for $87.37 million, sources familiar with the agreement told The Real Deal. The purchase price works out to about $1,100 per square foot, a significant discount from the listed price for condos in the building. The average price for the 11 units currently in contract at the tower is around $1,850 per square foot, according to StreetEasy.”

“The developer’s deal with Tishman could be a sign of more to come, as new development sponsors have become increasingly open to selling condos at struggling projects for a discount and moving on. For sponsors, such moves can often wipe out any remaining equity in the project. But for the bulk buyers, it represents an opportunity to come in at a time when large blocks of apartments can be picked up for a discount, then sold at below-market pricing.”

From KLAS in Nevada. “Even with the state and federal eviction moratoriums in place, thousands of valley residents face the threat of losing their homes, data obtained by the I-Team shows. Tina, who lives in Las Vegas and who did not want to reveal her last name, told the I-Team’s David Charns, holding back tears. With no job and facing eviction, Tina is like thousands of others across the valley.”

“Tina showed the I-Team documents indicating her landlord, whose name is concealed through a trust, attempted to create a payment plan with her, but Tina said the trust now wants to sell to avoid bankruptcy.”

From Yahoo Finance. “The year 2020 was, in many ways, a home buyer’s dream. Unfortunately, all of this occurred during a global pandemic, which made the housing recovery uneven. In some markets, prices shot higher, making it easy for sellers to unload their homes. However, other markets suffered greatly, due to a combination of business closures, population flight, evictions and/or high levels of unemployment.”

“GOBankingRates analyzed the 95 largest metropolitan housing markets according to Zillow’s Housing Data and found the 20 hardest places to sell a home. Primary factors considered were the difference between list and sale prices, average price cut and average number of days on Zillow. The resulting list of 20 cities is ranked in reverse order, with the most difficult city in which to sell a home listed last.”

“Depending on your point of view, these cities could represent opportunities for buyers, as sellers that have a tough time getting their list price are likely to drop it. However, if sellers keep dropping their prices in a market, it can start a downward spiral, meaning your home price could fall below what you paid for it.”

From Better Dwelling in Canada. “Thousands of Toronto’s short-term rental investors may call it quits. An Ipsos Survey, commissioned by the Toronto Regional Real Estate Board (TRREB), shows how investors plan to navigate the city’s new short-term rental rules. Only a third feel their investment won’t be impacted by the new rules. The remainder either plan on selling, or finding long-term tenants for their units. This could mean a lot of new housing supply will hit the market over the next year.”

“The biggest group said they would sell the property over the next year, coming in at 40% of respondents. A much smaller, but still substantial, 26% of investors said they’ll look for long-term tenants. This can add a lot of supply to the market without any additional building. Analysts like FairBnB estimate between 14,000 and 20,000 short-term rentals in Toronto. Using the survey to estimate, that could mean between 5,600 and 8,000 units would go to market. Another 3,640 to 5,200 units may go to rental. This can add almost a year of housing supply, in just a few months.”

“One important note is this particular type of sale is a net benefit to supply. When investors sell, they aren’t likely to buy another place immediately, unlike homeowners. Toronto isn’t just expecting investors to sell short-term rentals either. The same survey found a significant number of general investors plan to sell over the next year. For the first time in a very long-time, Toronto’s real estate market may be well supplied.”

Related Posts

Housing Market Is RED HOT?

https://www.youtube.com/watch?v=KFZa44-ihMs https://www.youtube.com/watch?v=3-d1J-e9QVs https://www.youtube.com/watch?v=445N69PItdo https://www.youtube.com/watch?v=meXp7Z0agdU

This Post Has 96 Comments

  1. ‘The purchase price works out to about $1,100 per square foot, a significant discount from the listed price for condos in the building. The average price for the 11 units currently in contract at the tower is around $1,850 per square foot’

    So what happens to these lucky winners?

  2. ‘An estimated 250 people who paid about $119 million to invest in projects launched by Acharya and Silicon Sage Builders face the prospect that they were defrauded’

    Red-hotcakes.

  3. ‘her landlord, whose name is concealed through a trust, attempted to create a payment plan with her, but Tina said the trust now wants to sell to avoid bankruptcy’

    I thought everybody was supposed to stop paying everything? I guess that only works for so long.

  4. ‘that could mean between 5,600 and 8,000 units would go to market. Another 3,640 to 5,200 units may go to rental. This can add almost a year of housing supply, in just a few months’

    Wa happened to my shortage Toronto?

    ‘Toronto isn’t just expecting investors to sell short-term rentals either. The same survey found a significant number of general investors plan to sell over the next year’

    General investors?

  6. I do open recent buyers didn’t overpay…

    “The purchase price works out to about $1,100 per square foot, a significant discount from the listed price for condos in the building. The average price for the 11 units currently in contract at the tower is around $1,850 per square foot, according to StreetEasy.”

  7. From the article – Most difficult places to sell your home:

    1. NYC
    2. Stanford
    3. Chicago
    4. LA
    5. Miami

    If only there was a common denominator…

    1. NYC was interesting. Besides the difference between list and sales price, the big surprise was the low sales price. i was expecting in the $1M range – but i suppose that older condos and townhouses in the outer boroughs bring this all down

      New York, NY
      Median list price in 2020: $605,591
      Median sale price in 2020: $452,742
      Difference between list price and sale price: $152,849
      Average number of homes on the market in 2020: 53,853
      Median days on market: 45
      Percentage of listings with price cut: 10.53%
      Median price cut in 2020: 3.01%

  8. So cheap and easy money pulled in housing demand from the future?

    For the sweet equity?

    Who would have thunk it?

    “When investors sell, they aren’t likely to buy another place immediately, unlike homeowners. Toronto isn’t just expecting investors to sell short-term rentals either. The same survey found a significant number of general investors plan to sell over the next year.”

    1. sell short-term rentals either. The same survey found a significant number of general investors plan to sell over the next year.”
      Based on how Contact Law was trashed in relationship to Landlord’s property rights, there is no way I would ever be a landlord. My question is: What’s next to be taken/trashed in the name of safety/equality?

      1. Student debt? Kids who partied their ways into a Studies degree get a nice payout. Meanwhile, parents who sacrificed vacations, or hocked the house to send junior to college, students who persevered and paid their own loans back, or those who skipped college altogether to honor their debt contracts, get screwed.

        1. “Meanwhile, parents who sacrificed…”

          I’d let my two young adults take-out student loans if they would be graduating into a healthy and robust job market. But I have no business encouraging them to attend University, and then not supporting them financially in this current environment. Good thing I was a 401k saver, and I paid-off the house ASAP. They both have watched me “lead by example.”

        2. “Get screwed”
          Colleges can continue to offer worthless degrees
          knowing the loans are still available for future students who may or may not have to pay them back.

        3. Like all bailouts, those who borrowed profusely and spent recklessly are rewarded, while those who exercised thrift and restraint get hosed.

          1. get hosed

            Those without insight, morals or thrift are empowered so as to support a ruling class that fits like a glove.

          2. “Like all bailouts, those who borrowed profusely and spent recklessly are rewarded”

            Because the central bank looks at the economy from a bank/lending-centric perspective. They think the only “safe” way to inject money into an economy is through debt. So debtors are their favorite people.

            Reminds me a joke: “Two economists walking down the street see a pile of dog excrement. One says to the other, ‘If you eat that, I’ll give you 20,000 dollars. The other shrugs, takes the challenge, devours the excrement, pockets the 20,000 dollars. They continue walking, spy another pile of dog excrement so this time, the second economist issues the same challenge. The first economist takes it, devours the excrement, pockets 20,000 dollars. They continue walking. The second economist says, “I don’t feel so good. We both still have the same amount of money we started out with, but we’ve both eaten dog excrement.” The first one responds, ‘Yes but we’ve increased GDP by 40,000 dollars!'”

            Current monetary policy reminds me of a saying: “You can shear a sheep many times, but you can only skin it once.” The central bank was created to provide a reliable source of funds to the government, and to backstop Wall Street. Their policies enable the continued shearing of the populace but with the unrest we’ve seen from both sides of the political spectrum, I have to wonder, are they getting close to skinning it? They are very astute however, so the shearing could go on for some time, indefinitely even.

            Finding out the central bank is a huge, active, though stealthy player in the economy has been an important, expensive lesson, along the lines of “player 3 has entered the game.”

            Pursuing policies that increase the price of shelter (rent and purchase), while also crushing interest rates to achieve financial repression, affects a lot of people it seems to me. I was looking at my own finances. My monthly expenses have gone up significantly over the past 10 years, despite not changing my lifestyle. My income has not kept pace. I have more of a buffer than younger people, but I think this effect may be common and a significant piece of why there is discontent on both sides of the political spectrum.

    1. The real estate market is just another rigged market of fake wealth creation that will crash . It’s not different than the rise of stocks in 1929 that was fueled by Margin lending by Wall Street Investment houses.
      Bill Clinton administration took away the Glass Steagal Act that served this Country well for over 70 years to keep lending separated from investment. It only took 7 years for the 2008 crash to take place, and they bailed out the lending culprits, and never corrected the mistake of getting rid of Glass Steagal Act. So now just another bubble again.
      People just don’t seem to understand why you have to separate lending from investment.
      So, the fact that in 1929, they were a allowing any Tom , Dick, and Harry borrow 90 % to purchase stock, was the reason the stock rose in value. Than when the 1929 bubble started to crash, they made a call on the highly leveraged loans to buy stock. This created a run on the Banks that got wiped out.
      So , even if you weren’t a Stock market investor, your savings in the Bank got wiped out because of these highly leveraged stock market loans to buy a stock.
      So , after much investigation and trials in the aftermath of the crash of 1929, that they had to separate lending from investment, because lending could make a investment rise beyond true value.
      So Glass Steagal made it so that a loan applicant had to qualify for the loan apart from the future or current value of the investment.
      So Bill Clinton overturned that long standing law, and it only took 7 years for real estate to crash and burn just like stocks in 1929.
      So Obama/Biden bailed out the Lenders in the trillions, and didn’t bring back Glass Steagal Act to prevent it from happening again.
      So, again within 7 to eight years after the 2008 crash, we have the current real estate bubble. So, again a false value of real estate based on highly leveraged faulty lending.

      You can raise just about anything by faulty lending. You can raise the price of a College education by handing out government backed loans handed out like toilet paper, in which useless degrees handed out in which the loan application can’t get a job that can reasonably pay back the loan, again faulty lending that enriched the Universities, while they transferred the risk to the US Government, who backed the loans. So now they want the tax payers to pay for those student loans that enriched the Universities in being able to charge fake gouge pricing .
      So, it’s all about using faulty lending and debt so that fake pricing or value can be created.
      I call this a rigged system and it doesn’t come close to being capitalism, because the risk is being transferred to the Pawn Government, by the Monopolies and lenders, and basic looters of wealth in this Country.
      The Obamacare was another monopoly scheme to gouge on cost of health care, by charging based on income enforced by the IRS.
      So, when are people going to realize that we are being looted by economic systems that are designed to enrich the looter Monopolies, with the damage from this either charged to the Gov, or the tax coffers.this is the sole reason the Monopolies want Commie programs.
      It’s really outrageous that the Monopolies want to loot and gouge, than charge the victims of these schemes, the tax payer for the damage.
      This is why they work 24/7 to demonize the Citizens of the US, and the Country itself.

      1. “You can raise just about anything by faulty lending.”

        “Tulip mania was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels, and then dramatically collapsed in February 1637. It is generally considered to have been the first recorded speculative bubble or asset bubble in history. It is important to note that until about the mid-1700s, the Dutch Republic’s economic and financial system were the most advanced and sophisticated ever seen in history.” —wiki

        1. OK, I should say that there are a couple other factors that can create a mania or bubble, other than faulty lending .
          The perception of scarcity of something can cause price to rise , example, toilet paper, diamonds , limited supply of housing etc.
          A mania, like tulip bulbs where there was no logic to it at all.
          A situation where you have excess dollars in the system chasing where to put the bucks. Example Fed printing money and the excess bucks get invested driving up something like the Stock market.
          Lack of investment choices causing investment price to rise artificially by lack of other choices. Example is bank interest is low causing transfer to higher risk investments.
          So, I just wanted to add this to my other post about bubbles and faulty lending.

      2. The Financial Times
        Opinion Inside Business
        Are leveraged Gen Z traders the next systemic risk?

        Magnified bets on a soaraway market by have-a-go investors may be a broader threat to stability

        As small investors drive equities to uncharted highs, might they be a risk to the system as well as themselves?

        Patrick Jenkins yesterday

        Back in 2008, the world’s biggest banks were, infamously, leveraged to the hilt. Barely 3 per cent of their assets were funded with equity, down markedly on the level of prior years, as managers gorged on cheap debt finance to maximise profits and bonuses. Spoiler alert: it ended in tears.

        Excessive leverage has often ended that way — from the panic of 1772, when an international credit squeeze helped trigger the American war of independence, to the global financial crisis, when losses rooted in the US subprime mortgage bubble caused economic turmoil.

        So what about now? The debts of governments and companies have spiralled, exacerbated by the economic pressures of the pandemic. Average consumer debt may be down a little in some countries, thanks to injections of government support, but the trend is likely to be shortlived.
        …
        There is one subset of personal debt that is particularly worrying: that taken on by have-a-go investors to magnify their bets on the soaring stock market.

        Much attention has been paid to the recent “populist” investment craze focused on a few unloved stocks. GameStop shares jumped from about $20 to $480 in a fortnight, before collapsing rapidly. Swapping ideas via adrenaline-fuelled chat rooms, and using slick mobile phone apps such as Robinhood, an army of young private investors have talked of retribution against the financial establishment.

        And no wonder: young people have found the odds increasingly stacked against them; years of ultra-loose monetary policy have boosted the value of the property, equities and bonds hoarded by older generations. There have been spates of popular equity investment before. But this one is larger — and far more powerful — for all of the above reasons, plus another: more leverage.
        …

    1. OMG. I always thought that only the patient, or the family could make a order like that.
      I mean I missed that it was legal for the Medical system to make a ” do not resuscitate ” order on patients.
      I’m pretty shocked because if this is true we will get prejudicial orders from the Medical Cartel on who they want to eliminate.
      If you ask me they were already making choices on the denial of medical care by the games they were playing with seniors in the last decade I noticed with seniors.
      While it’s true that we have a unsustainable Medical system, in part due to the gouge in pricing, they now have the right to pick and choose who gets medical care?
      I mean the problem needs to be discussed in a honest way.
      For instance, should the system spend 300k to keep a terminal patient alive for another three months?
      But for example should a disabled person be denied medical care, when they aren’t terminal and have many years of life left.
      This is just a set up for the Medical Cartel to in a prejudicial manner to pick and choose who will live and who will die.
      But, that’s one of the reasons I didn’t want Government run health care because who wants the Big State to choose who will live and who will die. And no telling how bizarre that could get .

      1. I always thought that only the patient, or the family could make a order like that.

        In the US. In other countries the rules are different, very different. And the UK’s NHS has a limited budget, so they have to decide who to treat and who not to treat. From what I have heard private insurance is becoming a popular employment perk for the better paid in the UK. It allows them to circumvent the NHS and its waiting lists.

          1. I think it was once forbidden in Canuckistan, which why well to do Canadians would come to the US for private treatment, as you were not allowed to pay healthcare providers in Canada out of your own pocket.

            I’m gonna guess that they changed the rules when the waiting lists became unbearable.

      2. “I didn’t want Government run health care because who wants the Big State to choose who will live and who will die. And no telling how bizarre that could get .”

        Because it can get “bizarre”.

        At the beginning of World War II, individuals with mental or physical disabilities were targeted for murder in what the Nazis called the “T-4,” or “euthanasia,” program.

        The Euthanasia Program required the cooperation of many German doctors, who reviewed the medical files of patients in institutions to determine which individuals with disabilities should be killed. The doctors also supervised the actual killings. Doomed patients were transferred to six institutions in Germany and Austria, where they were killed in specially constructed gas chambers. Infants and small children with disabilities were also killed by injection with a deadly dose of drugs or by starvation. The bodies of the victims were burned in large ovens called crematoria.

        Despite public protests in 1941, the Nazi leadership continued this program in secret throughout the war. About 200,000 people with disabilities were murdered between 1940 and 1945.

        https://encyclopedia.ushmm.org/content/en/article/the-murder-of-the-handicapped

      1. Everyone should share this article and the Charlie Gard story with all the people who support Medicare-for-All. Socialized medicine is eugenics.

      2. From the article: “People with learning disabilities already get a raw deal from the health services. Fewer than two in five people with a learning disability live until they are 65.”

      3. My German wife has beautifully aligned teeth set along a wide radius mandible and palate, and she has excellent regular hygiene habits. A social dentist looking to generate added income installed ugly amalgam fillings that she didn’t need in multiple teeth on the top and bottom masticating surfaces. I spent $5k getting them removed, and replaced with a composite base and ceramic outer surface.

        1. Perhaps you should reconsider this comment. You’re comparing unnecessary treatment with the extermination of the disabled.

  11. everywhere i go there are job ads for grocery cashiers, overnight stock, customer service, so there is something she is not telling us, a criminal record, suspended driver license and no buses near by, ———–Tina, who lives in Las Vegas

      1. It’s an incomplete story, to be sure. Payments missed years ago? Problem with SS card?

        I’ve heard employers here in Las Vegas do have a hard time hiring because so many can’t pass a drug test. I thought that would have improved due to MJ legalization. Maybe it’s that morning poppy seed roll.

        1. problems with ss card? that needs an explanation. worked on the strip and got laid off? problems with unemployment? sounds like the typical reporter 10 years ago, oh the evil bank wants to throw me out, but will never ask where did the heloc money go?

          Lost ss card my gf went to vital records on the city she was born they asked questions and got a birth certificate to show ss….problem solved.

          1. Right.

            The layoffs here have been massive, though. All the jobs offered are only better than none.

            My daughter works for MGM in their corporate offices. It looks like her small department in this huge building is the only one still there. There are also a few exec types wandering around. MGM also has another huge building across from it. The HR dept’s there, don’t know how full it is. Doesn’t seem as busy.

        2. many can’t pass a drug test. I thought that would have improved due to MJ legalization

          My understanding is that they can still make you take a drug test, even if it has been legalized locally, since it’s still a federally controlled substance.

          1. Local talk is they’ve dropped that from the list, but I hear ya. It still is done for jobs involving risk to co-workers/public. Makes sense. When we first got here, I worked temp at a place they regularly tested all the employees – quite the expense.

          2. many can’t pass a drug test. I thought that would have improved due to MJ legalization

            My knowledge, is that private companies can still test you. Think Liability of Truck driver, Construction equipt. operator.

          3. When we first got here, I worked temp at a place they regularly tested all the employees – quite the expense.

            In my industry drug tests are long gone, unless you do contract work for the fedgov. Big Red is considered a “conservative” tech firm and it hasn’t been done here in ages.

      2. Or hepatitis. They can’t bag groceries, work in fast food, etc., so they are usually placed on SSDI to limit infecting others. It really should include its own scarlet letter too.

  12. Should the government get rid of the student loan program and have college aspiring kids depend on gofundme accounts? In the long run, would that drive down the inflating cost of college?

    1. Half of all existing colleges need to close. And of those that remain they need to lay off half of their administrative, non-instructor staff.

      1. But that would cast tens of thousands of otherwise unemployable Cultural Marxist “educators” into the Outer Darkness that is our oligarch-looted economy to fend for themselves. That would be unspeakably cruel.

        1. “The Eloi are humanlike creatures who are small, unintelligent, uncurious, weak, and also, importantly, benevolent and happy. They are the evolutionary descendants of the British elite, who exploited the British poor for so long that the poor evolved into a race of humanoids called the Morlocks.” —H. G. Wells’ 1895 novel The Time Machine

        1. A third tier school folded in Denver last year: Johnson and Wales. They have a nice campus. I wonder what will happen to it. Will it be bulldozed for a Super Target shopping center?

        2. I thought 1/3 would close by the end of last decade 2019….. I really dont see the value of a liberal arts/humanities education past the first year anymore. what is needed is apprentice type programs 40 hours a week studying and hands on training for your life. You love gaming well coding and producing music, art , animation for games should be your main focus for a least a year or two… project after project to get a job. Business courses to start your own start up. Things are moving super fast today so a 4 or 6 year degree is pretty much out of date when your receive it.

          1. Easy solution: simply double-major. Major in your passion AND in a job-related field. Art and physics. Gender studies and accounting. Psychology and biology. If you start the double major when you’re a freshman you can arrange your classes correctly. Add in a couple summer classes at the community college, and you can get a two degrees for not much more $$ than one. It also makes you stand out in any field of applicants. I give this advice to every high-schooler I see.

    3. “Major in your passion AND in a job-related field.”

      Friend of mine who did that started in a boring, lucrative STEM job and ended up making a living in LA as a songwriter, with a major emphasis on cutting edge electronic production technology. I more or less did the same (music minor, not major) and went on to have a steady STEM job with music as my lifetime avocation.

      I believe we are both much richer in life experiences due to pursuing our bifurcated interests.

  14. However, if sellers keep dropping their prices in a market, it can start a downward spiral, meaning your home price could fall below what you paid for it.”

    Oh, the humanity!

    1. “…your home price could fall below what you paid for it.”

      Happened all the time back when buyers had to ante-up 20% for a down payment.

      1. when buyers had to ante-up 20% for a down payment

        When was this mythical time? I ask because my parents bought a house with an FHA loan in the 1960’s.

    2. I don’t disagree, but these kids are raised on debt. You could’ve worked summerjob and paid tuition. They can’t, especially since way too many of them believe they are entitled to the full college live-on-campus-at -exorbitant-prices experience. And its just so easy to get that loan…

  17. Lockdowns destroying lives in Europe:

    https://www.msn.com/en-us/news/world/despair-deepens-for-young-people-as-pandemic-drags-on/ar-BB1dFUt0

    Despair Deepens for Young People as Pandemic Drags On

    Many feel they’re paying the price not of the pandemic, but of the measures taken against the pandemic,” said Dr. Nicolas Franck

    I’m sure all these snowflakes were fully supporting the lockdowns a year ago, casting their votes for wise, compassionate progressives. Now their economies, which were brittle to begin with and good jobs were already hard to find, are now in tatters, decimated with no hope of a recovery back to the previous meager state.

    Many European countries went into the fall with the illusion that they had curbed virus outbreaks, only to face an even larger wave of infections this winter. That led to mistaken expectations, young people said, that harsh restrictions would soon end.

    Suckers.

    1. In Colorado,
      Thanks for posting that article. The damage these Lockdowns have done is incredible in so many ways.

  18. No wonder they’re leaving troops in DC.

    “In addition to calling for background checks and an assault-weapons ban”

    Biden calls for tougher gun laws on Parkland massacre anniversary

    By Jackie Salo
    February 14, 2021 | 3:57pm

    In addition to calling for background checks and an assault-weapons ban, Biden also pushed for lawmakers to ban high-capacity magazines and hold gun manufacturers liable for the role their weapons play in violence.

    “This Administration will not wait for the next mass shooting to heed that call. We will take action to end our epidemic of gun violence and make our schools and communities safer,” the president said.

    https://nypost.com/2021/02/14/biden-calls-for-tougher-gun-laws-on-parkland-massacre-anniversary/

    1. Told you they were going go for the guns. What better way but to disarm people you don’t want to be able to protect themselves.
      At the same time they are letting criminals out, and not deporting criminal illegals crossing the border.
      This Biden is either not working with a full deck, or is a total Puppet treasonous traitor to this Country.
      What can you expect from people who would criminally steal a election so they would have absolute power to force their horrible agenda on US Citizens.

      1. “This Biden is either not working with a full deck, or is a total Puppet treasonous traitor to this Country.”

        Biden is a Marionette and what started out as the Weather Underground is pulling the strings.

      2. He’s a puppet. I wonder how many of these laws will go to the Supreme Court. “Infringe” is a pretty strong word. Infringe means you can’t just ban everything except muskets, call that “bearing arms,” and think that satisfies 2A.

        1. Well, that’s why these bastards want to stack the Supreme Court , so they can eliminate Constitution protections. Destroy the check and balance by the high Court.
          I view these creeps as being insurrectionists , treasonous traitors to the US, and worse they are aiding and abetting Foreign enemies like China.

  19. Wait till the felon gang members in the cities find out the law abiding citizens of this country have been disarmed.

    It’ll be open season on the middle class.

    “The latest shooting victim figures told the same story, with the year ending with 4,033 shooting victims compared with 2,598 the year before.”

    Chicago ends 2020 with 769 homicides as gun violence surges

    By DON BABWIN Associated Press
    January 1, 2021, 1:42 PM

    After three years of falling homicide totals, 2020 ended with 769 homicides — 274 more than the previous year and the most since the 784 homicides in 2016. The latest shooting victim figures told the same story, with the year ending with 4,033 shooting victims compared with 2,598 the year before.

    The year ended in Detroit, Washington, D.C., New York, Milwaukee and other cities with more killings than the year before. The same held true in smaller cities, including Grand Rapids, Michigan, and Rockford, Illinois. Chicago, the nation’s third-largest city, saw hundreds more homicides than either New York or Los Angeles.

    https://abcnews.go.com/US/wireStory/chicago-ends-2020-769-homicides-gun-violence-surges-75005949

  20. “Depending on your point of view, these cities could represent opportunities for buyers, as sellers that have a tough time getting their list price are likely to drop it. However, if sellers keep dropping their prices in a market, it can start a downward spiral, meaning your home price could fall below what you paid for it.”

    Translation: If you buy now, you could soon find yourself owing more on your loan than the market value of the house. If you had to sell, you’d have to either do a short sale or bring money to the closing table.

    Try not to get stucco!

    1. ““Depending on your point of view, these cities could represent opportunities for buyers, as sellers that have a tough time getting their list price are likely to drop it.”

      VIDEO: Seattle Antifa Builds ‘Snow Wall’ To Keep Police, Emergency Vehicles From Leaving East Precinct

      by National File
      February 15th 2021, 2:17 am

      In one video, a group of shrill female voices mocks the police, telling them that Antifa is aware they cannot arrest individuals without committing “violent offenses.” As the police leave, Antifa members proceed to throw a snow ball at a police vehicle.

      Another clip reveals the Antifa members built a “snow wall” that appears to be between 3′ and 4′ high. A police cruiser, potentially leaving the precinct building to respond to an emergency somewhere in the City of Seattle, gets stuck on the wall, prompting cheers and jeers from the Antifa members.

      Once the vehicle became stuck in the snow, the Antifa member began pelting it with snowballs.

      https://www.infowars.com/posts/video-seattle-antifa-builds-snow-wall-to-keep-police-emergency-vehicles-from-leaving-east-precinct

  22. Biden is even worst than I thought he would be. He is going the radical route rather than being more middle of road.
    In a speech the Puppet Biden attacked capitalism, attacked libertarians, and Trump Voters political views and labeled them terrorist .
    So, his pre election threat that he was going to fundamentally change America was true.
    So Commie top down Control , with Globalist Monopolies in partnership with Foreign Commie enemies like China have their Puppet in the White House.
    There is no way the Majority Voters voted for this, and that’s why they stoled the election.
    So these Commie traitors that have captured the Majority power in Fed Government are going to do battle to destroy the Traditional America, in favor of Commie/Monopolies rule.
    Unreal, just unreal.
    The first amendment is being attacked, the second Amendment , all the amendments and the Constitution. No honoring of their Constitutional oath to defend the Constitution.
    This Government that was formed so many years ago wasn’t based on a One World Order of Monopolies and Commies having Top Down control of the Citizens. It was not conceived to have a Medical Cartel take your freedoms either,or nuts like Gates, Soros and Klaus Schwab. These Hilter like characters who have amassed great wealth under capitalism , want to rule the World .
    And their vision of the World is they get to dictate resources, what a individual will get, and what populations will be subjected to in terms of Medical Mandates.
    Just unreal.

        1. In September 2018, Secretary of State Mike Pompeo named Khalilzad as the Special Representative for Afghanistan Reconciliation, a newly created envoy with the mission of securing a peaceful resolution to the conflict in Afghanistan.

          1. I’m thinking about how Abraham Lincoln kinda pushed against the first amendment right of a free press when he arrested the Journalist during the Civil War.
            I guess the press was acting like a military campaign in trying to prop up the enemy against the North.
            So, maybe there are a few exceptions, like during a Civil War, where the first Amendment has to be suspended in the interest of it not being used as a weapon of War against sides.
            But, fast forward to today.
            We have Monopoly fake news, Big tech censoring any dispute or facts against their narratives. A attack on over half the Country Citizens for being insurrectionists, as if we were engaged in a great Civil War.
            And than Biden surrounds the Capital and White House with 30 thousand military.
            So, all these Acts that point to the fact that the Entities that stole the election are at war with over half the Country and view a high % of Citizens as the enemy?
            I mean is it capitalist verses Commie, white privileged racist verses everybody else, is it Citizens verses open borders, is it bring back jobs verses don’t bring back jobs from China or China verses the US., Is it Monopolies should rule verses the Citizens should rule.Is it One World Order verses sovereign Country, is it Climate Change verses Climate Change non believers.
            So, they are acting like they already took over America, and how dare over half the Country not want their treasonous agenda, so they are the enemy.
            And because their narratives are so entirely false , and their agenda loots and weakens the US, and doesn’t do anything for the interest of the Citizens, they are the insurrectionist, not Trump Voters.

          2. they are the insurrectionist

            No, they think they have taken over the country. Worse, they already had taken over the country and we misbehaved. So for them we are the insurrectionists, just like the founding fathers were insurrectionists and they are the royalty. Corrupt and vile as they are, they will insult us. Embrace being an insurrectionist. Things get pretty simple, and no, somebody else is not going to fix it while you sit and complain (to us who agree with you). We have work to do to fix things.

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