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There Are Implications To Our Ability To Create Wealth If Our Houses Appraise For 50% Less Than Its Value

A report from Forbes on New York. “The former Manhattan pied-à-terre of late theatrical producer James Nederlander, listed for $27.5 million in 2019, will be auctioned off later this week with no reserve. The auction of #10 at 838 Fifth Ave., a condominium right by Central Park, will take place on Feb. 19. The current listing price is $16.99 million.”

The Auburn Examiner in Washington. “Due to the economics of scarcity, housing prices are soaring across Western Washington. That has many of us worried about the sustainability of our current market. To be fair, 15%+ year over year appreciation growth is NOT sustainable if it happened every year for years and years on end. But before throwing your hands up and declaring THIS market a bubble that’s bound to pop, let’s investigate What’s Possible?”

“Luckily for us, we have a near-perfect comparable city to benchmark off of about 850 miles to the south: San Francisco. For as long as I can remember, San Francisco has consistently been about 10 years ahead of us. Check this out: In January of 2011, the median price of a home in San Francisco County was about $750,000. In January of 2021, the median price of a home in King County was about $725,000. Not exact, but pretty darn close.”

“So given the similarities between cities, we have the opportunity to project what Seattle’s future might look like based on what things look like down in SFO. So how are things looking down there? According to Altos Research, their median SFR price is about $1.5m right now, and price per square foot is $954. Seattle’s median SFR price right now is about $810,000 with a price per square foot of $509. So for as unsustainable and ridiculous as OUR market might seem, we are a 45% off clearance sale compared to San Francisco.”

From ABC 7 in California. “Paul Austin and his wife Tenisha Tate Austin feel like they captured a slice of the American dream when they purchased their first home together in 2016. The couple secured an original Marin City pole home, but faced a number of challenges in obtaining the property. After moving in to their home, which was originally built in the 1960s, the Austins staged major renovations. Then, the Austins got the home appraised.”

“‘I read the appraisal, I looked at the number I was like, ‘This is unbelievable,’ said Tate Austin. The family tells ABC7 that their appraiser was an older white woman. The Austins are convinced race was a factor in her estimate. The home appraised for $989,000, or just $100,000 more than what the Austins got it appraised for prior to their renovations, despite $400,000 in costs. ‘It was a slap in the face,’ said Austin.”

“The family immediately called their lender and pushed back. After a month of escalating their complaints, The Austins were approved for a second appraisal. When the day came for inspection, they got creative with the process. ‘We had a conversation with one of our white friends, and she said ‘No problem. I’ll be Tenisha. I’ll bring over some pictures of my family,’ Austin said. ‘She made our home look like it belonged to her.'”

“The home appraised for $1,482,000, or roughly $500,000 more than it appraised for just weeks prior. The Austins were outraged. They believe this is another ugly result of larger, systemic issues in the United States. ‘There are implications to our ability to create generational wealth or passing things on if our houses appraise for 50% less than its value,’ said Tate Austin.”

The Globe and Mail in Canada. “Converting office towers into something new – whether it be to hotel rooms, condos or affordable housing – will help Calgary deal with a massive glut of empty office space. But they can be daunting projects. Beyond finding a building that will physically work, it’s tricky to make a financial case in a down economy. Despite no major new towers opening in the past two years, Calgary’s downtown office vacancy rate sits at 30 per cent, and the market is crowded with lessees trying to sublet their space. There are concerns the office vacancy numbers could get worse before they get better.”

“‘If you look at vacancy, it can be very, very daunting,’ said Mary Moran, chief executive of Calgary Economic Development, a not-for-profit corporation focused on attracting new companies and industries to the city. ‘We built office towers based on a $100 oil strategy, and primarily for white-collar workers. And the reality is, the energy industry is not going to be our mega-job creator.'”

“Developer Ajay Nehru said conversions are far from being a financial home run. As the owner of the mixed-use Westview Heights building at 825 8 Ave. S.W., he felt deep ambivalence about whether to convert the building’s four floors of empty office space to residential apartments. Even the residential rental market has weakened, he noted. But ultimately, Mr. Nehru said he decided to proceed with the project that began construction this week, because the building already has 300 rental suites. And it’s better than having the eight, ninth, 10th and penthouse levels of the 40-storey building sit empty.”

“‘I already have the building staffed. I have the management. Those are the benefits to me. But if I didn’t have those benefits, the economics would be extremely marginal,’ he said. ‘Some of the numbers I’ve seen on conversions, I’ve said, ‘that’s higher than doing a new build.’”

From Newstalk on Ireland. “Thousands of apartments due to be built in Dublin in the coming years will end up in the hands of large international funds rather than homeowners, according to a housing expert. It comes after an analysis by the Business Post found that more than 26,000 apartments due to be built in the coming years will cost significantly more than the mortgage-borrowing ability of most first-time buyers.”

“‘I think the honest answer is that it will end up being the institutional funds that end up buying them,’ said Dr Lorcan Sirr, DCU Senior Lecturer in Planning and Development. ‘The large international monied bodies, who have bought up 90% of all apartments in the last couple of years anyway, to rent them out, fairly expensively it has to be said, to punters looking for somewhere to live in the city. So, it is not going to be your average couple.'”

“He said there are a number of problems with Irish apartment living, noting that Ireland ‘bad history of building very shoddy apartments.’ ‘They are making the floor to ceiling height lower, there are less windows in them, they are darker and they are smaller – all that kind of stuff. People are not really buying into this. It is hard enough to get people to buy apartments already without making them into rabbit hutches.'”

“‘There is always a drive for new builds – we must build new, new, new – but there are about 200,000 empty houses around the country and Dublin alone has about 21,000 empty houses so they could make a start by getting the empty stock we already have – which is typically in established locations already,’ he said. ‘The second thing is that we have acres of land. Despite the fact we think there is no land in the city, there is tonnes of land around most cities in Ireland – it is just badly used.'”

The Malaysian Reserve. “The Johor property market is in for another bumpy ride this year with the absence of foreign buyers, particularly from Hong Kong and China. ‘The majority of the overhang property in Johor is located in the Iskandar region, which includes Johor Baru, and the fundamental issue or root cause of it is that the units were originally built with foreign buyers as the target market,’ property consultant Bruce Lee told The Malaysian Reserve. ‘The pandemic outbreak is one of the elements that made matters worse. The demand for unsold properties that were originally built for foreigners has become almost non-existence.'”

From Domain News in Australia. “The price gap between Melbourne houses and units has widened over the past year. Buyer’s advocate Cate Bakos says if you are looking to buy an apartment for yourself, ‘then now is a great time to buy because the disparity between housing and units hasn’t been this wide in some time.’ ‘There is a real window of opportunity while we don’t have international students arriving or money coming in from the mainland, because investor appetite is low, there is reduced competition, motivated vendors and even some discounting,’ she says.”

“‘The bad news is that, until we get overseas students returning, these places will remain out of favour and prices will remain low, so buying one for short-term gain is not a good idea,’ she says.”

“Miriam Sandkuhler, CEO and property advocate at Property Mavens, says the current low appetite among investors for apartments in many inner-city areas does provide a good opportunity for some buyers, as long as they ‘cherry pick’ the right kind of apartment.”

“‘Melbourne has seen an oversupply of apartments in some areas, particularly in inner Melbourne,’ she says. ‘And if you search for apartments in the CBD, for example, right now, there are hundreds and hundreds of apartments for sale. But, to be honest, there’s a lot of rubbish out there. There’s a lot of poorly built investment stock that doesn’t make a good home.'”

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This Post Has 101 Comments

  1. ‘San Francisco has consistently been about 10 years ahead of us’

    Shacks are a never ending escalator to the sky, as the REIC tells it. “We’re just catching up to Vancouver!” No mention of incomes, jobs, depreciation.

    1. why worry – according to this detailed analysis 🙁 , Seattle housing prices will go up 50% in < 10 years. And with low mortgage rates it is a no-brainer.

      Was the reporter fed this by some RE lobby group?

      According to Altos Research, their median SFR price is about $1.5m right now, and price per square foot is $954. Seattle’s median SFR price right now is about $810,000 with a price per square foot of $509. So for as unsustainable and ridiculous as OUR market might seem, we are a 45% off clearance sale compared to San Francisco.”

    2. No mention of incomes, jobs, depreciation.

      This is what really rankles me. You have places where median house prices are 10x incomes and more, and yet we’re supposed to accept that it’s totally normal that people cannot afford a house based upon wages. It’s the number one indicator that something is very, very wrong.

      1. ‘Was the reporter fed this’

        He’s a UHS.

        ‘places where median house prices are 10x incomes and more’

        The media used to discuss this a lot – over 10 years ago. A few years ago it was brought up again in one article. Turns out the highest price to income was the most expensive markets! Not flyover country, not the ghetto. The incomes weren’t that much higher in silicon valley, etc. The most out of whack area at the time? Mercer Island WA at 13 times income.

        Of course there’s a reason they don’t talk about it.

  3. ‘The home appraised for $1,482,000, or roughly $500,000 more than it appraised for just weeks prior. The Austins were outraged. They believe this is another ugly result of larger, systemic issues in the United States. ‘There are implications to our ability to create generational wealth or passing things on if our houses appraise for 50% less than its value’

    You do have the bay aryans. Sure is sorta arbitrary, isn’t it? A 1960’s shack. You got a communist guberment. Homeless people can steal yer sh$t and not get arrested. Oh but get that guberment backed “appraisal” and it’s GOLD Jerry!

    1. SMH at this whole article. It’s written by a “Race & Social Justice” reporter and concludes with the guberment is here to help.

      The Biden Administration has proposed a couple of plans that could increase home ownership in the Black community.

      President Biden has proposed a tax credit of up to $15,000 to help first-time home buyers with down payments and a $100 billion fund to build and upgrade affordable housing for buyers and renters.

      1. “Race & Social Justice” reporter

        I’m sure he’d never report on the reverse racism that I experienced applying for a government program. Thankfully, there was an appeal process.

        1. Anger And Fear As Asian American Seniors Targeted In Bay Area Attacks

          https://www.npr.org/2021/02/12/966940217/anger-and-fear-as-asian-american-seniors-targeted-in-bay-area-attacks

          No direct mention of the race that’s doing this, but we got this!

          “These attacks taking place in the Bay Area are part of a larger trend of anti-Asian American/Pacific Islander hate brought on in many ways by COVID-19, as well as some of the xenophobic policies and racist rhetoric that were pushed forward by the prior administration,” says Manju Kulkarni, executive director of the Asian Pacific Policy and Planning Council, a coalition of California community-based groups.’

          “Racist rhetoric from the pandemic has targeted us as being the reason for the coronavirus,” Wu says, singling out phrases used by former President Trump to describe the outbreak’s origins. “Asians across the board have been targeted by racial slurs, being attacked, being pushed around, being spat on.”

          ‘Civil rights advocate Kulkarni also shared criticism of politically charged speech. “Oftentimes, perpetrators have used the exact language of the prior president, words like ‘Wuhan virus, kung flu, China virus, China plague,’ “Kulkarni says. “And sometimes they have even weaponized the former president himself saying ‘Trump is going to get you, go back to your country.’ What President Trump did was to foment hate against Asian American communities and really put people in harm’s way. …We need so much work to be done to undo some of the harm of the prior administration.”

          So black yutes are doing this cuz Orange Man Bad! NPR sux…

          1. has targeted us as being the reason for the coronavirus,

            The Chinese Americans over at Sound of Hope say this is not a thing. Someone is lying.

  4. Am I supposed to feel the pain of racism because a black couple owns a 1.5 million dollar home?

    ““The home appraised for $1,482,000, or roughly $500,000 more than it appraised for just weeks prior.”

    2. They supposedly dumped 400k into the shack. Just how would you even spend that much? Put gold leaf on everything?

      3. The couple added an entire floor and more than another 1,000 square feet of space.

        They didn’t stop there, building a deck, new floors, a fireplace, and adding new appliances.

    4. “If we are aware that implicit bias exists in other systems, police, school, why wouldn’t they also exist in the housing market? And then what can we do to you know, fix that?” said Austin.

      They could file a lawsuit against the appraiser. Blacks in the home, +$100K. Whites in the home, +$500K. The Austins might have a case. The first appraiser would be fired and the lender would likely face a fine or other scrutiny. It wouldn’t fix all appraisal fraud, but it would fix the -ism.

      1. It’s not fraud to up it 500k cuz they had some whitey photos on the wall? Appraisers just want to get paid. Not to mention opening themselves up to be sued is something they are well aware of. So could the various numbers they’re getting be a result of local crater? Or just the arbitrary wild amounts of cash being thrown at any old wooden structure out there? I’m not buying the “it was an old racist bay aryan woman” thing.

    5. Good thing they’re in California. In any other state, tax appraisers might take that new appraisal value to heart and hit the Austins with 1.5x the property tax. (IIRC, California never raises prop taxes.)

  6. Dear Gawd…this is not a good thing!!!!

    “So given the similarities between cities, we have the opportunity to project what Seattle’s future might look like based on what things look like down in SFO.”

    1. just scroll down the “Seattle looks like s***” facebook page. Long time folks in Seattle, who dont visit a lot of neighbourhoods, just dont appreciate how bad some of them are.

      On the page mentioned above look at the burn outside Ballard Blossom – which is in a upscale area.

  7. Converting to affordable housing…

    BAHAHAHAHAHA

    “Converting office towers into something new – whether it be to hotel rooms, condos or affordable housing…”

    1. Here’s what’s crazy: I remember reading in the same paper just as oil fell off the cliff that there was a couple million square feet of offices just finished and much more on the way. What did they say? “Oh we gotta finish it!” And here we are all these years later. They’ve been maintaining it, paying taxes on it, heating it. That’s a lot of money thrown down a rat hole if you ask me.

      But you might remember: before Vancouver, before Toronto, Calgary was the shining star in the never ending real estate miracle that was Alberta. They never talk about that anymore.

    2. Why the Bahahahah? Sure there’s some barriers to converting and office tower to 1-bed apts (plumbing comes to mind) but it’s doable. Hasn’t HBB been angry at developers building only Class-A apts, and value-add converting Class-B into Class-A? So what’s wrong with converting an office building into affordable apts and condos?

  8. ‘‘The large international monied bodies, who have bought up 90% of all apartments in the last couple of years anyway, to rent them out’

    Get out yer “rich people gonna vampire squid all yer airboxes” routine. Then he says:

    “He said there are a number of problems with Irish apartment living, noting that Ireland ‘bad history of building very shoddy apartments’

    OK so these “monied” idiots own a bunch of crap. Nobody mentions safe deposit boxes in the sky anymore.

  9. ‘To be fair, 15%+ year over year appreciation growth is NOT sustainable if it happened every year for years and years on end’

    It has happened that way.

    ‘every year for years and years’

    Add in compounding and – oh dear. So where are the appraisers on this? Oh right, the GSE’s are waiving appraisals these days. But there’s no subprime! See, it’s not a problem unless it stops going up. And when it does you get Manhattan.

  10. ‘There are implications to our ability to create generational wealth or passing things on if our houses appraise for 50% less than its value,’

    Read the Zestimate and weep.

    Easy come, easy go…

  11. ‘We built office towers based on a $100 oil strategy, and primarily for white-collar workers. And the reality is, the energy industry is not going to be our mega-job creator’

    Eat yer crowz Dan. But you can always make solar panels or self driving taxis or something.

    1. If only Canada could build some pipelines to get their products to market….

      BAHAHAHAHAHA.

      Stolen elections have consequences.

  12. “Due to the economics of scarcity, housing prices are soaring across Western Washington. That has many of us worried about the sustainability of our current market.

    “Economics of scarcity”? Enough with the lies, Real Journalists. This is due solely to the Fed’s debasement of the currency and the destruction of Americans’ purchasing power by these Keynesian fraudsters.

  13. “He said there are a number of problems with Irish apartment living, noting that Ireland ‘bad history of building very shoddy apartments.’

    That’s not exactly unique to Ireland. Since Housing Bubble 1.0 that’s been the norm everywhere to maximize developer profits.

  14. But, to be honest, there’s a lot of rubbish out there. There’s a lot of poorly built investment stock that doesn’t make a good home.’”

    You don’t say….

    1. This guy is a fookin’ joke. He used his overvalued company’s cash to speculate in crypto. Is that even legal?

      1. company’s cash to speculate

        We handed the cash to him in eco credits, which he promptly sold to real car companies. You and I seem to be unfit to run a country!

  16. So…Texas having power outages due to cold weather.

    And guess what.

    Solar panels don’t work with snow on them or at night when it is the coldest.

    Wind turbines have froze up.

    If only there were some lessons in there…

    2. I’m in north Texas right now and it is cold. Must be global warming. There’s a bunch of wind turbines out west. This was phony pesos going to money heaven too. I know, let’s ban fracking!

    3. Solar panels don’t work with snow on them or at night when it is the coldest.”

      Or when the sky is filled with smoke like in CA last year. Green energy is going to be expensive .

      1. Green energy is going to be expensive .

        And it’s going to take a whole lot of oil and coal to produce. No matter, someone will get rich.

    4. “Solar panels don’t work with snow on them or at night when it is the coldest.”
      “Wind turbines have froze up.”
      “If only there were some lessons in there…”

      https://nypost.com/2021/02/09/bidens-climate-fix-is-fantastically-expensive-and-perfectly-useless/
      Opinion
      Biden’s climate ‘fix’ is fantastically expensive and perfectly useless
      By Bjorn Lomborg
      February 9, 2021 | 7:43pm | Updated

      “Across the world, politicians are going out of their way to promise fantastically expensive climate policies. President Biden has promised to spend $500 billion each year on climate — about 13 percent of the entire federal revenue. The European Union will spend 25 percent of its budget on climate.”

      “Most rich countries now promise to go carbon-neutral by mid-century. Shockingly, only one country has made a serious, independent estimate of the cost: New Zealand found it would optimistically cost 16 percent of its GDP by then, equivalent to the entire current New Zealand budget.”

      – My comment: There’s so much politics in science today, that’s it’s no longer science. No one mentions Germany’s “green energy” program, where nuclear has been replaced by “renewable” energy, France is on the same path. and yet they can’t meet demand, ’cause renewables aren’t available 24/7 (i.e. no sun at night (insert my shocked face here), and sometimes no wind during the day). What a bunch of morons.

      – Nuclear is the best option today for energy and electricity until we get fusion technology working. The (fission) reactor technology today is far superior to water cooled (Fukushima Daiichi/China syndrome) or graphite moderated (Chernobyl) reactors of old.

      – Renewables aren’t ever going to replace 100% of capacity.

      – Electric cars (EVs) are manufactured and charged largely with energy from fossil fuels.

      – But “narrative” and control of your life. It’s what progressives live for. These people need to be run out of town on a rail, tarred and feathered first, or worse.

      – Finally, we may be entering into a new grand solar minimum over the next few decades. The sun trumps all other climate drivers. Something to think about, but “narrative.” Dumb ’em down and continue with “the mushroom treatment.”

      3. And for what? If all the rich countries in the world were to cut their carbon emissions to zero tomorrow and for the rest of the century, the effort would make an almost unnoticeable reduction in temperatures by 2100.

        This is because more than three-quarters of the global emissions in the rest of this century will come from Asia, Africa and Latin America. These nations are determined to lift their populations out of poverty and ensure broad development using plentiful energy, mostly from cheap fossil fuels.

    1. Only read one article there re: housing, but it seems like they look forward to your comments and finding none (?), miss you 😢🤣

      I love your avatar. I think of my grandfather patting his big belly and saying “It’s all paid for.”

      (Just a text quote from a very old article from the Guardian, nothing sinister.)

  18. ‘The majority of the overhang property in Johor is located in the Iskandar region, which includes Johor Baru, and the fundamental issue or root cause of it is that the units were originally built with foreign buyers as the target market’

    This was another disaster anyone could have seen coming. Literally tens of thousands of airboxes were planned and created for people who wouldn’t live there. It was pretty much an environmental clusterfark too. But it was a commodity! It only goes up. Where have we heard that before?

    1. I’m watching a documentary on George Washington right now in how he came to be such a good military General.
      I don’t think anybody could of been better to beat King George considering the odds against the Revolution winning. And these bastards want to tear down George Washington Statues
      No appreciation at all for such a unique person.

      1. It’s even worse in Britain, where they want to cancel Winston Churchill on the basis that he was a wht supr. I guess they would rather have been taken over by that other wht supr.

        1. Right, they would of rather been taken over by Hitler.Or they would rather be under British Monarch rule. Or, they would rather have a Mao type cancelling of China history by killing millions and millions.

      2. George Washington was one of the richest men of one of the richest families in the Colonies.

        When he became commander of rebels, ALL his family properties and wealth was confiscated.

        His family went on the run.

        If caught, he would have been hung.

        Can you imagine a Gates, Bezos, Buffet or Musk doing the same?

        Me neither.

        1. How dare that bribed traitor in the White House ,being Biden, try to undo what George Washington did at great risk to himself and with unbelievable Courage.
          These Globalist rich guys like Gates, Soros and Klaus Schwab are more like Hilter,Stalin and Mao. They have no character.

          George Washington turned down power repeatedly.
          My heart just broke every time I saw them tear down a George Washington Statue, or deface one with red paint.
          And these are the rioters that Biden/Harris and Globalist Corporations donated to and endorsed.
          Sometimes I think these Entities are trying to start a Civil War here in the US.
          The current talking points is that Trump Voters are insurrectionist terrorist. So about 200 dumb asses stormed the Capital, so 75 million are guilty.

        2. “We must, indeed, all hang together or, most assuredly, we shall all hang separately.” – Benjamin Franklin

        3. The final line of the Declaration of Indepencence:

          “And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor.”

  19. “With the resurgence of the Covid-19 cases, the five-year trend now is definitely looking downward, especially for the high-rise units, which contributed the most to the unsold properties in Johor.”

    From the Malaysian Article: They RE Pros are predicting 5 years of lower prices. Not see those forecasts in the US yet.

  20. Australian Pro: Buyer’s advocate Cate Bakos says if you are looking to buy an apartment for yourself, ‘then now is a great time to buy because the disparity between housing and units hasn’t been this wide in some time.’

    Big variance in forecast/advice from Malaysian RE Pros and Australian RE Pros. RE Pros from the west: It’s always a good time to buy.

    1. And yet again, the pool is over a hundred feet from the house, and what looks like downhill over rough terrain. I can’t get a good look at the property, but I see no sign of a sizable poolhouse or pathway. What good is a heartshaped pool if you have to walk uphill for a hundred feet to take a potty break or get a drink?

      1. what looks like downhill over rough terrain

        Actually, the paved path is visible going up alongside the tennis court to a sizable outbuilding. Don’t you think you could make it 80 ft to the toilet most days?

  25. Principal of NY School Demands Parents Become “White Traitors”

    by Paul Joseph Watson
    February 15th 2021, 5:09 pm

    Demented woke manifesto shared as “tool for action.”

    The principal of East Side Community School in New York sent white parents a manifesto that calls on them to become “white traitors” and advocate for full “white abolition.”

    “This is the new language of public education,” tweeted Christopher F. Rufo along with an image showing “the 8 white identities,” which range from “white supremacist” to “white abolition.”

    The two final stages, “white traitor” and “white abolitionist,” demands that white people “subvert white authority,” “dismantle institutions,” dismantle whiteness and not allow whiteness to reassert itself.

    Teaching of such self-hatred is now becoming commonplace in schools as kids are brainwashed that they’re inherently bad for being born white.

    As we highlighted earlier this month, the San Francisco Chronicle published an article by a public school teacher which asserted that Bernie Sanders’ inauguration mittens were a symbol of “white privilege.”

    Last year, we revealed how children at an elementary school in Virginia are being taught that traits such as “objectivity” and “perfectionism” are ‘racist’ characteristics of “white supremacy.”

    Meanwhile, school districts across America are eliminating grading standards in order to “combat racism”.

    The move was announced in San Diego after it was revealed that just 7% of D or F grades are handed out to white students, while 23% went to Native Americans, 23% of failing grades went to Hispanics and 20% went to black students.

    https://www.infowars.com/posts/principal-of-ny-school-demands-parents-become-white-traitors/

    1. grades are handed out to … grades went to

      Lovin’ the word choice here. Grades do not “go” somewhere, anymore than that 22-year old “found” herself with two kids.

      When I was in school, the teachers beat it into our heads that they did not “give” us grades or “hand out” grades; we earned those grades ourselves. If the grades were bad, it was our fault and no one else’s. And I remember taking loads of standardized tests with that ubiquitous Number Two Pencil. Are Scan-trons –ist too now?

        1. What else would they use for a multiple-choice test? Are the students taking these tests directly on computers now? If so, then are the computers -ist too? At a more basic level, how do you make a multiple-choice test -ist? I guess multiplication tables act white.

    2. Principal of NY School Demands Parents Become “White Traitors”

      As if families need any more reasons to GTFO of New York, or any other Dem controlled sh!tholes, and take their tax dollars with them.

  26. “dismantle whiteness and not allow whiteness to reassert itself.”

    WTF is whiteness ? These idiots put this out to get attention and some kind of reward from other Idiots ?

    1. Google currently has a “Search for Black-owned shops near you” link on their home page now. They’ve unwittingly become the largest purveyor of racism on the Intertubes. I’ve got money that says we’ll never see one for “White-owned”. I’ll hedge on seeing “Asian-owned”…

      Back in the day, you’d use the Yellow Pages to find a business. They didn’t categorize by race, just alphabetically by business type.

    2. WTF is whiteness ?

      A lot of mestizo Hispanics self identify as “white”. Are they also supposed to be abolished?

    3. “WTF is whiteness ?”

      This will all be explained by the “truth commission”

      Democrat Congresswoman Calls for ‘Truth Commission,’ Reckoning with ‘Racial Injustice, White Supremacy’

      JOSHUA KLEIN
      15 Feb 2021

      Congresswoman Sara Jacobs (D-CA) in an interview Sunday with CNN reiterated calls for a “truth commission” aimed at community-wide conversations about “our history” in order to reach “a common narrative moving forward of what we want our country to be” as well as a “reckoning with the racial injustice and white supremacy of our past.”

      Stelter introduced Jacobs as “a congresswoman who went to study extremism abroad and then came home and found it here in the United States.”

      Claiming “there’s something very broken in our democracy” regarding the former president’s acquittal this week in his second impeachment trial, Jacobs implicated “far right media” and the social media “ecosystem” in the Capitol riot in early January.

      “I think we need to look at far right media, which I know, Brian, you have been such a leader on calling out,” she said.

      “And also the role of social media and the whole ecosystem of social media where the kinds of information and the kinds of posts that get the biggest reactions are the ones prioritized by their algorithms.”
      Stelter introduced Jacobs as “a congresswoman who went to study extremism abroad and then came home and found it here in the United States.”

      https://www.breitbart.com/politics/2021/02/15/democrat-congresswoman-calls-for-truth-commission-reckoning-with-racial-injustice-white-supremacy/

      1. What no one is talking about is that Hispanics are taking over black neighborhoods and running blacks out of California. In manty cases the cops who are harassing blacks are Hispanic cops. But since that does not fit into the BIPOC rainbow narrative, is is never discussed.

  29. First the covid, and now EBOLA!!!
    What’s the world coming to?

    However, so long as stoxx and real estate keep going up and we got stimulus monies, we’re saved!

  30. Don’t you just hate when you can see all the looming signs of financial crisis but have no clue as to when it will blow up?

    For some reason, October is a popular time for these events, though it seems like the onset of the tech stock collapse was earlier in the year when it started.

    1. The Financial Times
      Runaway Markets
      Capital markets
      Riskiest borrowers make up biggest share of junk-bond deals since 2007
      Investors say ‘weakest and most fragile’ groups are now tapping red-hot capital markets
      Yield-starved investors hunting for returns further down the ratings ladder are driving the fundraising binge
      © Justin Lane/EPA-EFE
      Joe Rennison in London and Eric Platt in New York yesterday
      This article is part of the FT’s Runaway Markets series

      The riskiest borrowers in corporate America are making up their largest share of junk-bond sales since 2007 as yield-starved investors hunt for returns and bet on an economic recovery.

      More than 15 cents of every dollar raised in the US high-yield bond market has been sold by groups with ratings of triple C or below since the start 2021, a Financial Times analysis of Refinitiv data shows. That marks the highest share of deals in any year since the eve of the financial crisis, when loose lending standards set off a race by weaker companies to borrow cash.
      …

      1. “The riskiest borrowers in corporate America are making up their largest share of junk-bond sales since 2007 as yield-starved investors hunt for returns and bet on an economic recovery.”

        Riskiest borrowers meet up with yield-starved investors to have a love fest. What could go wrong?

        Riskiest borrowers = Zombie companies: companies that survive only because they have continuous access to borrowed money.

        Yield-starved investors = The pukes that supply the money to the zombie companies that need it in order to survive. This money is made available because it belongs to somebody else. The managers of the yield-starved investor’s money get to collect hefty fees while passing on the hefty risks. When things go south the managers still get to keep their hefty fees.

        This entire situation is askew: The zombified borrowers are destined to die and are only kept alive by deluded investors who are destined to lose their financial asses. Each party depends on the existence of the other, and each party is facing doom.

      2. No doubt the Globalist Monopolist knew that White Citizens in the US might be the biggest objectors to their power grab looting of the US and the corruption of the Swamp in Washington DC.
        So, they weaved false narratives in from their Monopoly owned fake news that it was White privileged racism that was causing all the problems in the US, while they looted the Country.
        Climate Change was the other big lie , not really backed by Science, , that these Entities were using for fear mongering to take control of the energy systems in the US.
        But than these Monopolies found a better false narrative to take control of Citizens, and that was a medical Pandemic called Covid.
        So, you got three major false narratives. White racism, Climate Change, Fake Pandemic.
        A fraudulent power grab to destroy all Government by the people and usher in Top Down control by corrupted Government, Globalist Monopolies, partnering with Foreign and Domestic enemies like Commies and Communist China.

        So the White Race in the US was viewed as the biggest enemies to their takeover being that they wouldn’t vote against being destroyed or having the Constitutional Republic destroyed.
        So, a false Narrative of White people Racism and privilege was launched, brainwashing in the school systems, to literally paint While people as the Enemy. Also, a brainwashing campaign of Marxism, as a attack on capitalism and traditional US government by the people.
        A communist Government would violate a Constitution protected Republic in every way.
        Commies want to take all means of production and resources and have a Top Down Government control that doles out what people will get, under a theory that it creates more equity. History shows that Communist Governments for most part have failed. The exception might be Communist China, but they had to employ capitalism to create a manufacturing monopoly to further their goal of being number one power in the World.
        Right now 40% of Texas is freezing and people are dying because wind and solar doesn’t work if it gets to cold.
        Millions have died by Commie takeovers in Countries, because it has to be done by force, murder and mayhem.
        So, this manufactured enemy, being the White Race or 75 million Voters of Trump, is the warfare of the criminal insurrectionists that stole the 2020 election.
        The Puppet Biden has been placed in the White House to further the agenda of this criminal power grab, while asserting the big False Narratives I outlined above.
        First, anything false, while dispute and all facts are censored, as is occurring now, is evidence that they have be fraudulent to cram their fake narratives down the throats of the public.
        Their fake narratives are , absurd, blatant fear mongering, deliberate censoring of dispute by all facts. A fraudulent attack on the first amendment, with punishment to anyone that doesn’t endorse their false narratives.
        This is Stalin, Hitler and Mao tactics employed and used for this power grab.
        So, I’m just saying that all their fake narrative are lies, and they use the big three fake narratives to divide, conquer, control and take over.
        The only question becomes how to stop this criminal and fraudulent power grab, where they even rigged the voting machines.

        1. Stalin, Hitler and Mao tactics

          One of their characteristics is that they and their followers have no immutable standard of what is right and what is wrong. So how does someone with no cultural traditions or ages old “religion” or other constant moral reference decide what is right/wrong?

    1. When are people who are not White going to figure out that the fake narratives are designed to turn minorities against White people.
      The manufacturing of a enemy to defeat. A enemy to blame to deflect from the real culprits.
      And all things are bad because they are white.
      So, any invention from a white person in the last 2 thousand years is bad and a byproduct of white privilege . But, I guess we get to keep the cotton gin because that was invented by a Black man.
      What is the point here? That we would of had a much better Society had non white people invented everything, I guess the works of Shakespeare should be banned because he was White or Mozart .
      That apparently that only culture, inventions, and works of the non white are worthy.
      And that non whites did not benefit from inventions, culture and Scientific development from whites, but it must be torn down because it’s White even if it was beneficial to all races.
      And the US is bad because at one time it had slavery, as most Countries in the World did .
      Whats interesting is just how much Globalist Monopolist just love that low wage labor, that is not much better than slavery labor. or feudalism .

      1. What is the point here?

        For one thing, to kill the legacy of MLK, that people should be judged on their individual merit.

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