thehousingbubble@gmail.com
Blog

The Tide Has Gone Out For A Lot Of People

A report from the Wall Street Journal on New York. “Manhattan’s pulverized condominium market is opening the door for investors willing to buy individual apartments wholesale. Developers under financial strain are the most likely to entertain bulk deals, but in a choppy market where many apartments have gone unsold for long periods, many more are starting to consider the idea.”

“‘They might not admit it and it’s all very sort of confidential and behind the scenes, but almost every [developer] is trying to do the same thing right now. And that’s to do bulk transactions,’ said AnneMarie Alexander, a real-estate broker at Douglas Elliman Real Estate.”

From Creative Loafing on Florida. “A secluded island only accessible by boat or seaplane, is on the market in Central Florida. Bird Island is a 51-acre remote island in the middle of Lake Griffin, which is is part of the Harrison Chain of Lakes, just outside of The Villages. The 1,120-square-foot main house—the only house on the island—comes with two-bedrooms and one bathroom, as well as a wrap-around porch and vaulted ceilings. The island has been on and off the market for the past couple years and last month saw a 59% price cut from the asking price, which is now down to $2.7 million from $6.7 million.”

From Palo Alto Online in California. “Jon Goldman is a co-president of Premier Properties management company, which manages around 100 properties in Palo Alto and others in Redwood City and Menlo Park. It’s the worst crisis for commercial real estate in Palo Alto since the dot-com bust and the 2008 recession, he said. Availability rate, or the amount of space that can be advertised, in downtown Palo Alto alone is at an all-time high — around 15%, according to Goldman. But, he said, he’s almost certain the true rate is even higher.”

“Linda Nichols is a Menlo Park massage therapist who saw only 20% of her clients return when San Mateo County allowed personal care services to reopen last June, before she was promptly shut down again due to a spike in COVID-19 cases. The landlord waived a month’s rent, but the relief meant little as the costs stacked up over the year. By the end of this March, her savings depleted, she’ll be leaving the Bay Area to stay with her family in Texas.”

“‘My savings are gone,’ she said.”

From CTV News in Canada. “Vancouver and Toronto still top the list as the most expensive cities to rent, but the COVID-19 pandemic has eliminated nearly four years of price growth. PadMapper’s data found that the median price for a one-bedroom apartment in Toronto is currently $1,770 and in Vancouver is $1,940. ‘The last time Toronto one-bedroom rent was as low as it is in this report was in February 2017, when it was $1,700,’ Padmapper said in this month’s rental report. ‘And the last time Vancouver rent was this low was in April 2017, when it was at $1,940.'”

“The median price for a two-bedroom apartment in Toronto is currently $2,340 and in Vancouver is $2,630, which is down 21.5 per cent and 12 per cent over last year. ‘It seems the continuous rent price declines from renter migration out of Canada’s two most expensive rental markets have not stopped, even as COVID-19 vaccines have begun to roll out,’ the Padmapper report said.”

From Bisnow London. “Mark Dixon has seen a lot of upheaval in the 30 years since he started his flexible office business: the dot-com boom and bust, the 9/11 terrorist attacks, the 2008 Lehman crash and the rise of competitors like WeWork. But COVID-19 tops the lot, and it is the event on that list he thinks will change the world of work forever.”

“‘I described it to someone recently as a 100-year storm that has affected the office industry as a whole,’ the chief executive of IWG told Bisnow. ‘When you compare it to other recessions, it’s everything rolled into one.'”

“‘I think this year will be the year for distress, rather than last year,’ Dixon said, pointing to the fact that many countries have had legislation in place barring landlords from evicting tenants for not paying rent. In the UK and U.S., those moratoriums are due to expire at the end of March. ‘That will be judgment day,’ he said. ‘The tide has gone out for a lot of people.'”

From Domain News in Australia. “Melbourne schoolteacher Lauren Bird thought she’d done all her homework when it came to buying her first property. She’d looked all around her chosen area in Melbourne’s north-west, found an apartment building she liked and commissioned a building inspection report before she bought. But two and a half years on, she’s facing financial ruin. Her block’s owners are now taking its builders to court over allegations of severe defects in its construction, and she’s having to pay for both repairs and her share of spiralling legal fees.”

“‘How could this have happened?’ she said, bewildered. ‘This was my first time in the market and I thought it was going to be great. But instead, I seem to have bought into a nightmare that shows no sign of ending. This should have been one of the greatest achievements of my life, buying my own place. But I had no idea that the whole process was a game with changing rules, and I could end up having to sell the apartment to pay the bills and special levies.'”

“‘I realise now I was naive and badly informed,’ she said. ‘But I don’t think I’m alone in that. Apartments are often bought by younger people, or older people, and there’s so little information available in an easily digestible form. The government needs to protect us, empower us and give us more information so we can make informed choices.'”

“Apartment watchdog, the Australian Apartment Advocacy (AAA), says Ms Bird’s story is the tip of a very large iceberg, and it is now trying to help her. It’s also in talks with the Victorian Building Authority about providing its free education kit to all unit-buyers and owners through the Victorian Government.”

“‘If I’d have known about this, I would have known what questions to ask, and who to turn to, and I might not be in this mess today,’ said Ms Bird, whose building owners are suing its builders over allegations of leaking windows, car park floor cracking, a leaking roof, rising damp and wrongly installed flashing. ‘Financially, I’m terrified. I don’t know what the outcome is going to be, and every time I get a bill, I’m scared that I won’t be able to keep going. I’d hate to think how many more people will be caught before there’s more information put out there.'”

Related Posts
This Post Has 109 Comments

  1. I lost power last night so this is a bit abbreviated. I’ll try to catch up later.

    ‘They might not admit it and it’s all very sort of confidential and behind the scenes, but almost every [developer] is trying to do the same thing right now. And that’s to do bulk transactions’

    And this does what to previous buyers?

    1. “And this does what to previous buyers?”

      The landscape is littered with the empty skulls of broke, down crippled debt donkeys and degenerate gamblers.

    2. to buy individual apartments wholesale.

      Huh? Buying wholesale means buying in bulk, not individual units. That article is contradicting itself.

      1. Maybe the author means that buyers are buying stray (for lack of a better word) units that are empty. One or two empty units per floor sprinkled around an otherwise mostly occupied building. Buying in bulk implies buying an entire empty building.

        (I don’t know for sure, just guessing)

  3. ‘How could this have happened?’ she said, bewildered. ‘This was my first time in the market and I thought it was going to be great. But instead, I seem to have bought into a nightmare that shows no sign of ending. This should have been one of the greatest achievements of my life’

    Well, it was cheaper than renting Lauren. She asks ‘wa happened guberment?’ Long time readers will recall the guberment turned a blind eye to these shenanigans on a large scale, all across Australia. It’s a good thing everybody put 20% down.

    1. Yet cheap mortgages continue to drive crazy behaviour. The thing is government does not want to course correct

      ——-
      The Australian housing market is going gangbusters and all the signs are the boom is here to stay. When property data firm CoreLogic tracked 1,191 auctions last weekend, it found 86.1 per cent of properties that went under the hammer sold, a 2.3 per cent increase on the week before.

      The Australian housing market is going gangbusters and all the signs are the boom is here to stay. The company’s head of research, Tim Lawless, says it is a result not seen since 2015.

      …. YET
      Prof Hal Pawson from the University of New South Wales said this “cheap money” has been a big driver in the recent price spike – and one that may prove disadvantageous to renters and those living in regional areas.

      “Cheap money is the most important thing by far,” Pawson said.

      “It’s the ability to take out $150,000 more on a mortgage than you could have had a year ago on the same salary. The concern about this is that, for lower income earners in regional locations, they’re going to be put under pressure as the result of these changes and it doesn’t flow through [to renters] immediately.”

      https://www.theguardian.com/australia-news/2021/feb/16/the-australian-property-market-is-booming-but-the-gains-are-based-on-massive-debts?fbclid=IwAR2Uytrf0NxNu6dMANIkMOmYHLgrnPU47kkpi5OrPsNYLInPGYrsYO3FjpI

      1. It’s the ability to take out $150,000 more on a mortgage than you could have had a year ago on the same salary.

        So what happens to your adjustable rate Australian loan if interest rates go up?

    2. Instead of holding the corrupt government accountable for employing inspectors that sign off on such shoddy construction, Comrade Lauren demands that government make her problems its problems. The mindset of such libtards never ceases to baffle me.

  4. ‘It’s the worst crisis for commercial real estate in Palo Alto since the dot-com bust and the 2008 recession’

    I said when this whole phony CCP virus thing was rolled out it would be worse than September 11, 2001, because it was every city, all around the world, at the same time. These people running this sh$t-show have screwed up big time. You can’t shut down the global economy. Millions of people are dying right now as a result.

    1. “You can’t shut down the global economy.”

      Wrong term; try the term “reset” as in “You can’t reset the global economy.”

      “Millions of people are dying right now as a result.”

      (yawn) Collateral damage.

      1. Yep. Few people remember that in October 2019, right before Wu-flu surfaced, the Fed was pumping $105 billion A DAY into the re-po market to stop a 2008-style liquidity seize-up. Then as if by magic along came a pandemic that justified coordinated, massive liquidity pumping by all the central banks. The Great Reset started being touted by the usual globalist mouthpieces within months. But if you start connecting the dots, you’ll be called a conspiracy theorist.

        1. Yup. Been saying this for a year. What an amazing coincidence repo-market-reset-vid-19 came along!

      2. “Millions of people are dying right now as a result.”

        (yawn) Collateral damage.

        Remember , the Davos crowd has concluded that there are far, far too many little people in the world, which as far as they are concerned, belongs to them and which we are spoiling with our presence.

          1. Small people. Is he talking about midgets, children under 4 feet. Regular height people with small incomes.

      3. Yep, it’s looking increasingly likely that there will be some sort of currency change sprung “out of nowhere” because (insert emergency here). The central banks and the other big banks have spent the last couple of years boning up their people on blockchains and crypto currencies. It will be some invention of their own with every transaction tracked for your protection.

    2. I agree with you Ben that you can’t shut down the Global economy , without extreme damage, like people dying, people being destroyed financially and mentally and physically.
      Making people wear diapers on their face, with grocery workers wearing them 8 to 10 hours a day is sadistic, and not following the Science.
      And I believe, as many do, that Covid Pandemic is a Medical Monopoly scam to get control of the populations, force experimental vaccines, or useless vaccine, or vaccines that kill and injure people.
      So a handful of rich power mongers, like Gates, Soros and Klaus Schwab, In collusion with Globalist Monopolies, want to rule the World and bring on the Great Reset, against the will of the people, in their vision of a World , thats insane and inhumane and Nazi/Stalin/Mao like in tactics.
      Gates doesn’t care how many people die from vaccines, and he has proven this in other Countries where the vaccine programs he sponsored resulted in a lot of deaths. They kicked him out of India because of it. But Gates knows all about how to get news suppressed. Actually the evidence shows Gates is a Guy that wants population reduction. The other 2 guys , being Soros and Klaus Schwab, as the figureheads and masterminds of the Great Reset, are Nazi like characters, who think their vision of the World should be adopted or forced on the populations.
      But, to bring on a agenda like this, you have to corrupt the government of the Country you want to force your agenda on.
      So, I don’t think these Big Reset masterminds care one bit about any damage or death they cause in the interest of their power grab.
      Biden, their Puppet ,doesn’t give a rat’s ass how much damage he causes in his treasonous agenda against over half the Country. With fake news backing Biden,he can do no wrong.

        1. I have been wondering about the Rothschild. This is a family that never comes out in the open and it’s a curious thing how much influence they have.

    3. The death of millions is a feature, not a bug.

      They may have miscalculated though, nc the dead are the most likely to also be the weak. This is a culling founded on hubris, and I have faith that in it the cullers have sown the seeds of their own destruction.

  5. ‘The island has been on and off the market for the past couple years and last month saw a 59% price cut from the asking price, which is now down to $2.7 million from $6.7 million’

    You couldn’t give me this mosquito ranch.

    1. You couldn’t give me this mosquito ranch.

      No kidding. You have to wonder how much pesticide Disney sprays on its property. It must be mind boggling.

      1. As a native Floridian (75 years), I really wish all the Northern transplants had bought in to this over-hyped myth of mosquitos in Florida and not moved here (and moving now in vast quantities). The population increase keeps house costs (not values) going in to stratosphere and keeps real families out of the market. Mosquitos are not generally a problem. The island mentioned may or may not have mosquito problem depending on how much standing water is on it.

          1. I did search and according to what I found they do spray, though they also use other ways to control pests.

    2. Insects are not always an indicator of heat. Aren’t the worst flies and mosquitos found in northern Canada and Alaska?

    3. “..The island has been on and off the market for the past couple years and last month saw a 59% price cut…”

      They perfect fit for every wannabe Robinson Crusoe. Your own island, the ultimate romance, right?

      You could price cut 100% and your very own ‘secluded island’ makes zero economic sense.

      Alright then, better be prepared to spend the big bucks, and I mean the big bucks for the over the top logistical costs to bring in everything you need right down to bug spray and champagne. Plus, you got to haul all the created waste back to the mainland.

      Here’s a rule of thumb: Cost of living in Hawaii, which has a very well developed infrastructure is about 150% of that of living in LA (which is already insanely high). Your own private island cost factor will certainly be 200% or even 300%.

      No thanks. Someone else can own the island, I’ll just come and visit on the weekends. (by private helicopter of course).

      1. over the top logistical costs to bring in everything

        It just means you need a boat AND a pickup truck. The tough logistics come to play where the lake freezes and there are times on either end of that when you can’t boat or drive conveniently.

          1. Lakes don’t freeze in Florida.

            If you had assumed I wasn’t an idiot, then you would conclude that I was making a case that an island home in Florida wasn’t such a logistical nightmare.

  6. ….. because falling prices is never a crisis.

    Kenmore, WA Housing Prices Crater 22% YOY As Seattle Housing Market Simmers In A Cauldron Of Mortgage And Appraisal Fraud

    https://www.movoto.com/kenmore-wa/market-trends/

    As a noted economist stated so eloquently, “Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.”

    1. Nobody talks about the reasons why this is an unsustainable bubble…except maybe permabears watching in amazement, such as myself.

    2. The US 10-yr bond rate just spiked to 1.3%. Still far below the rate of real inflation, but that’s the sharpest one-day rise since last March, right before the markets cratered.

  8. “In the UK and U.S., those moratoriums are due to expire at the end of March.”

    Can’t moratoriums be renewed? Why wouldn’t they just kick the can if given the choice? Are Democrats in power likely to side with rich, greedy landlords, or poor, victimized tenants?

    My hunch is that the landlords will eat this one. Lots of them are Chinese and other foreign nationals. Nobody put a gun to their heads and forced them to assume the risk of nonpayment of rent due to a force majeure.

    1. Many of them are Mom and Pop retirees who acquired rental property with sweat equity as a means of retired support and now have their income stopped by unconstitutional “taking” by government fiat.

      1. I don’t agree with government interference in private contracts. But apparently, people in high office feel differently about their alternatives, and have summarily asserted their authority to transfer property rights from landlords to renters.

        Who is going to stop them and how?

      2. Unconstitutional is the current admin’s middle name. And I know that saying such things can get me cancelled.

  9. Yet – cheap money is making things worse. Why cant policy makers just do common sense analysis? Effective unemployment is ~15%, most business revenue is down …. but people with good paying jobs can get mortgages at 2.5%.

    —
    Today: “OTTAWA — The Canadian Real Estate Association says home sales in January hit a new record high for the month as prices also set a new high water mark.

    The association says January sales were up 35.2 per cent compared with a year earlier, and sales for the first month of the year were also up 2.0 per cent compared with December.”

    The actual national average price of a home sold in January was a record $621,525, up 22.8 per cent from the same month last year.

    CREA says excluding Greater Vancouver and the Greater Toronto Area, two of the country’s most active and expensive markets, cuts $129,000 from the national average price.

    —
    At the same time – From the article above “Vancouver and Toronto still top the list as the most expensive cities to rent, but the COVID-19 pandemic has eliminated nearly four years of price growth.”

    1. “Yet – cheap money is making things worse.”

      Wrong, cheap money is creating wealth. Let’s take a look …

      “The actual national average price of a home sold in January was a record $621,525, up 22.8 per cent from the same month last year.”

      Presto! All the comps just got a jump in equity wealth of 22.8 percent. This equity wealth is something that can be cashed out and spent. PFM at it’s best.

      (PFM = Pure F*cking Magic)

      1. Gee, silly me, and here I thought that creating goods and services that customers want and are willing to pay for is what creates wealth

  10. legislation in place barring landlords from evicting tenants for not paying rent. In the UK and U.S., those moratoriums are due to expire at the end of March.

    I suspect these Moratoriums will be extended until the End of June. But, by the end of June, the CCP virus will be done and then, things will get “interesting in July.”

    1. I can’t analyze anything without considering the agenda of the Big Reset masterminds , who I think was behind the election steal.
      So, if they want to subject people to masks for another year, or five years, this is what will be promoted.
      They are already starting the narrative that we have 7 new strains of Covid. No doubt grounds for future Lockdowns, or maybe a false narrative to explains deaths caused by the vaccine, or a cover for the useless and maybe dangerous vaccine.
      So, why let a good fake control weapon die but like the Covid 19 fake Pandemic.
      Use Covid to take right to do anything without doing what they say. Keep the Covid scam going for years as a weapon. Put mandates you can’t travel, can’t get groceries, can’t work, etc unless you comply with vaccines, or any kind of order they dream up.
      I’m one that believes that Covid is being used as a weapon to destroy normal society to be replaced by something that nobody in their right mind would vote for.

      1. There are new strains of COVID all the time. But usually one strain is more contagious and out-competes the other strains. John Campbell believes that there have been many more strains, but whatever mutation makes them less contagious and they die out quickly. So far, the only strain of concern is the South African strain, and only then because the vaccines are less effective against it. Pharma companies are making South African boosters as we speak. The pandemic will likely die down in summer again, with the sunlight and fresh air, and simply not come back in the fall as everybody gets vaccinated.

        2. But usually one strain is more contagious and out-competes the other strains. “usually” is the key word here. Is there any scientific reasoning that supports the statement or is it just referring to what is “usually” observed.

          1. The scientific reasoning is just generalized evolutionary pressure. If you’re a virus, the easier it is to infect a host, the more likely you are to multiply and pass your genes on to the next host. If you’re a very contagious virus, you infect a lot of hosts. Then, if a less contagious version of the virus comes along, it is more likely to be in an environment of hosts which have already developed immunity, the less contagious virus has no babies, and goes extinct. This is why 95% of the South Africans who have COVID have the South African strain. [The worst part of the SA COVID is that European or Chinese COVID do not provide 100% protection against it. Reinfection is possible.]

      2. Stay scared . Stay under control. Why governments think this is a good strategy in a competitive world economy ??

        “Experts issue warning to prevent 4th wave of COVID

        COVID-19 infection and hospitalization rates are falling nationwide, but health officials talk in dire terms about what will happen if variants of the virus are allowed to surge this spring.”

        1. This is the thing. This variant theory is weird because it seems to have a Country of origin. The African strain, the UK strain, the Australian strain, the Big Bear California strain, etc . So, we have a lot of different Countries and Cities in this World giving the potential for thousands of strains.
          So instead of taking a bunch of never-ending vaccines to respond to the never ending strains, I’m just going to let my immune system deal with it. Right now I’m dealing with the San Diego strain, but hell tomorrow it might be the Big Bear strain, and the Glendale strain is just snarly.
          Seriously, I think these people are lying.

    2. Things will definitely get interesting in July. By then the vaccines will be singing along at millions/day. The economy will look great, but that means that Congress won’t pass any more freebie stimuli. Jerome and Janet might even try another taper. If he does, watch out.

      Normies have this notion that all the money printing is happening only because of the pandemic, and therefore the end of the pandemic means that we can stop the printing and DOW will be able to sustain itself with no further help. Sure. The DOW can sustain itself … at about 15000. Because that’s about what goods and services will support.

      1. Interesting how the Asian flu in 1968, never came back and we didn’t have never ending strains . The Black Plague took 20 years to come back the first time and forty years the second time.
        The Spanish flu was gone after about 18 months, no variants hounding us. .
        And why is it that you have all these vaccines like measles, mumps, small pox etc, that you only had to take vaccine shot once, no variants or new strains to deal with.
        I’m just saying that this never ending mutation or variant theory would be requiring never ending Lockdowns and vaccines, and it doesn’t match the historic Pandemics that just died and went away and people weren’t plagued with never ending variants or strains. How come we aren’t taking never ending vaccines for the Black Plague, Spanish flu, Asian flu, etc, the suckers would just die out by herd immunity apparently. So I’m just saying herd immunity seem to be far more effective in killing off these bugs than never ending vaccines.

          1. Pathogenic priming likely contributes to serious and critical illness and mortality in COVID-19 via autoimmunity:

            In SARS, a type of “priming” of the immune system was observed during animal studies of SARS spike protein-based vaccines leading to increased morbidity and mortality in vaccinated animals who were subsequently exposed to wild SARS virus. The problem, highlighted in
            two studies, became obvious following post-vaccination challenge with the SARS virus [2]. found that recombinant SARS spike-protein-based vaccines not only failed to provide protection from SARS-CoV infection, but also that the mice experienced increased immunopathology
            with eosinophilic infiltrates in their lungs. Similarly [3], found that ferrets previously vaccinated against SARS-CoV also developed a strong inflammatory response in liver tissue (hepatitis). Both studies suspected a “cellular immune response”.

            These types of unfortunate outcomes are sometimes referred to as “immune enhancement”; however, this nearly euphemistic phrase fails to convey the increased risk of illness and death due to prior exposure to the
            SARS spike protein. For this reason, I refer to the concept as “pathogen priming”; the peptides with pathogenic potential therefore are referred to as “putative pathogenic priming peptides”.

  11. ‘The New York Times on Sunday finally admitted that Capitol police officer Brian Sicknick was not killed by “pro-Trump rioters” who “struck him in the head with a fire extinguisher” — long after they spread the false claim to millions.’

    http://www.informationliberation.com/?id=62048

    Anyone who bothered to look into his death knew weeks ago this was a lie. The other deaths were two heart related and the woman shot by a federal agent of some sort. So zero deaths caused by the “rioters”. This is the sort of dis-information we are barraged with anymore. Did you know they are spending 7 million$ – each day – to surround the capital with troops? For nothing but a sick show based on lies.

    1. The Pedocrats do and say anything to condition the public to normalize their sick doctrine.

      Poverty, fraud, theft, destruction pedophilia, rape, murder, loot…. it’s the Pedocrat Party way.

    2. Nancy’s putting together a 9/11 style Commission to find all the facts about what happened. Be careful what you wish for, Nancy.

    3. IIUC, Congress used that misinformation in the NYT as evidence at Trump’s second impeachment trial. Makes me wonder who those “anonymous sources” were.

      It wouldn’t be the first time that politicians have used NYT’s supposed impeccable reputation to spread misinformation. How quickly the Dems forget that Dickwad Cheney planted fake news in the NYT, and then got on the Sunday talk shows and pointed to that same NYT fake news to convince Congress to invade Iraq.

  12. “Snow is starting to disappear from our lives. Sledges, snowmen, snowballs and the excitement of waking to find that the stuff has settled outside are all a rapidly diminishing part of Britain’s culture, as warmer winters – which scientists are attributing to global climate change – produce not only fewer white Christmases, but fewer white Januaries and Februaries … Global warming, the heating of the atmosphere by increased amounts of industrial gases, is now accepted as a reality by the international community … According to Dr David Viner, a senior research scientist at the climatic research unit of the University of East Anglia, within a few years winter snowfall will become ‘a very rare and exciting event’. ‘Children just aren’t going to know what snow is,’ he said.”

    😁

    CHILDREN JUST AREN’T GOING TO KNOW WHAT SNOW IS | Daily Telegraph
    https://www.dailytelegraph.com.au/blogs/tim-blair/children-just-arent-going-to-know-what-snow-is/news-story/5a16c85680b7cc94f345240a727fb09d

        1. So they can freeze their a$$es off in the dark thanks to green energy lunacy and the financializaiton of the energy sector.

          1. green energy lunacy

            My son explained to me how they de-ice a windmill. Supposedly, they drop a crap load of jet fuel on it by helicopter. Sounds environmentally friendly!

  15. Demand is ‘exceeding supply’ amid blackouts in Texas: Generac CEO

    Homeowners rush to buy home generators. Green energy did this .

    Gas powered generators

  16. “The median price for a two-bedroom apartment in Toronto is currently $2,340 and in Vancouver is $2,630, which is down 21.5 per cent and 12 per cent over last year.

    Is that a lot?

  17. One of the many reasons marionettes like Joe Biden and Alexandria Ocasio-Cortez should not be in charge of our Nation’s energy policy.

    Texas electric grid operator says frozen wind turbines are hampering state’s power output: report

    Over 2.5 million people in Texas have been left without power from the storm’s frigid temperatures

    By Lucas Manfredi
    FOXBusiness

    RENEWABLE ENERGY
    Published 20 hours ago

    The Electric Reliability Council of Texas (ERCOT) told the Austin American Statesman that roughly 12,000 megawatts of Texas’ wind generation capacity had been hampered as of Sunday due to frozen wind turbines.

    It is estimated between 2.5 and 3.5 million people in Texas have been left without power amid the storm’s frigid temperatures. An ERCOT spokesperson did not immediately return FOX Business’ request for comment.

    https://www.foxbusiness.com/energy/texas-electric-grid-operator-says-frozen-wind-turbines-are-hampering-states-power-output-report

    1. Freezing to death in Texas will kill you a lot quicker than Covid19. So, getting rid of gas is our next great existential threat .

      1. Hopefully the Democrats are just talking the dumb Green game, and won’t make good on threats to self exterminate.

    2. What is really sad is that conventional power plants are there, but offline for the winter. They can’t be turned back on with the flip of a switch. So if the windmills fail, It can takes days to get the other sources up and running.

  19. “The Centennial Project at Tejon Ranch will provide 19,333 new single-family homes, townhouses, and apartments at market and affordable rates. Importantly, it will include 2,900 affordable units. That’s more affordable units than have been built in LA County in the last two decades.”

    San Andreas fault who cares right ? back in the day they lost a cow in a crack that opened up at fort Tejon during the last Big One but most of the cows are gone now so its all good..

    1. red tape or green tape I guess ?

      https://scvnews.com/conservationists-sue-to-invalidate-centennial-projects-environmental-impact-report/

      “The California Native Plant Society and the Center for Biological Diversity filed a lawsuit seeking to invalidate the project’s environmental impact report, claiming it violated the California Environmental Quality Act.

      Among many arguments, the environmental advocacy groups said the planned development would impact a critical wildlife corridor and the EIR authors did not adequately study how the project would impact native wildflowers in the area.

      Another environmental group, Climate Resolve, also sued the county over what they called a confusing and misleading measure of greenhouse gas emissions.”

      1. Good place to get Coccidioides or valley fever. Palmdale had to evacuate all the vibrant from the jail up there because apparently they get valley fever worse than white people ( white privilege ? )

        Digging up the desert does that . UC Davis only place that can test for it . Believe me I know but that’s a whole other story

  20. LMAO

    Tucker is talking about the MSM slobbering over the Bidens and how the coverage of their love was in no way meant to cover up Joe Biden’s senility and then he said…

    Jill and Joe Biden’s love is as real as Climate Change!

    1. Aren’t Jill and Joe just so special. The real truth is they can’t ask Joe Biden any hard questions. It’s all about him writing a bunch of Executive Orders with no hard questions.
      Aren’t Joe and Jill so peaceful, in a nursing home type way.

    2. Jill and Joe Biden’s love
      Website telling Jill, Joe and Neilia (first wife) tales is presented in “conspiracy theory” style; appalling if even half the stories in it are true. With pictures!
      https://neiliabiden.com/

  21. https://www.freep.com/story/money/cars/general-motors/2021/02/16/gm-fort-wayne-plant-closure-weatehr/6762152002/

    “A severe winter storm is delivering arctic temperatures, snow and ice accumulation that can hinder operations, create dangerous driving conditions for workers and impede parts delivery to plants.”

    🤣🤣🤣🤣

    Auto demand is collapsing so they blame it on this new phenomenon called snow.

    Housing demand and prices are collapsing everywhere and you’d never know it from looking at the headlines.

    Did I mention zeroguts?🤣

  22. I just returned to my Home Region (Region VIII, if you want to get Regional about it) after visiting Atlanta for five days.

    That place is too busy and too paved.

  23. Good point! The covid pandemic was perfectly timed to provide cover for the Go Big intervention needed to treat Mr Market’s case of repomortis.

  24. Stock futures suggest Mr Market is pricing in a mini dip. Is it safe to assume this is a good time to buy the dip?

    2. Only if you’re a trader. Mini-dips aren’t dippy enough for amateurs. For amateurs who don’t have the tools or experience or desire to time the market and sell quick (i.e. me), mini-dips aren’t dippy enough.

Comments are closed.