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This Glut Of Inventory Means Prices Have Even More Room To Fall

A report from the Real Deal on Florida. “John Rosatt sold his waterfront mansion in Fort Lauderdale’s Las Olas Isles for $7 million, nearly five years after putting it on the market. He bought the home in 2015 for $12 million and listed it for $11.95 million the next year. He even hosted a live auction of the house in 2018. The most recent listing price was $7.5 million in August.”

The New York Post. “The Astor Suite at the Plaza hotel is back on the market for $19.95 million, down from its original $55 million in 2008. The current asking price also marks a loss. Fashion billionaire Jürgen Friedrich and his wife bought this suite for $25.49 million in 2007. In 2017, Friedrich slashed the price to $39.5 million. Sources tell The Post that Friedrich stands to lose even more money on the deal, since he invested around $8 million into renovating the residence along with a one-bedroom guest apartment next door.”

From Bloomberg on New York. “New York’s real estate market started 2021 with a whimper. Rents in Manhattan and Brooklyn had the steepest year-over-year drop on record in January, according to StreetEasy. Home prices in January also showed major declines compared to a year prior. ‘Inventory has been at record highs, and buyers have had more options,’ says Nancy Wu, an economist at StreetEasy. ‘What’s happening now is that sellers seem to be coming to terms with the fact that there’s record inventory on the market, and unless they reduce prices significantly, it won’t sell.'”

“This oversupply, Wu says, is particularly pronounced in the luxury tier, which StreetEasy pegs at over $3.7 million. ‘There’s 25% more inventory than last year in the luxury tier,’ she says. ‘This glut of inventory means that prices have even more room to fall, which would then lead to more contracts. So it’s a pretty busy market right now.'”

The Universal Hub on Massachusetts. “Perhaps the biggest reason why rents haven’t tanked in East Boston and elsewhere is that landlords have been creative with incentivizing renters. Vacancy rates in Downtown increased by 2600% while in outer Boston and the Suburbs, the effects were lightly felt, East Boston included. In February of last year, the East Boston vacancy rate was 1.19%, about the same as the city’s vacancy rate of 1.24%. Now the vacancy rate sits at 3.78%, while the city’s vacancy rate is an unthinkable 5.57%.”

“These short term uncertainties are fueling landlords to really lower the barrier of entry for renters. We’ve seen landlords offering no or reduced fees for a majority of listings, and we’ve even seen incentives for as much as 3 months rent for free to begin a lease.”

From Patch Illinois. “Chicago is among the cities to see the steepest decline in rent prices. In the past year, the cost of rent has decreased by 12.5 percent in the city. Jenna Weinerman, vice president of marketing for moving concierge app Updater, said for the first time in four years, more people moved out of Chicago than in. Some city landlords have been offering big perks, including up to five months of free rent for new leases, to attract renters, Ericka Rios, cofounder of Downtown Apartment Company, told the Chicago Tribune.”

From Reuters on California. “San Francisco was already a land of unaffordable housing before the coronavirus hit, with the median single-family home price still hovering above $1.5 million even as of December thousands of residents are leaving the Golden Gate city. Data from high-tech sources like cellphone location trackers to old-school change-of-address forms have started to put some scale around the reversal of fortune the City by the Bay now faces, with anywhere from 1.5% to perhaps 3% of its population exiting for surrounding counties or other states over the past year. Housing prices are beginning to follow suit.”

“‘The Bay Area is hurting,’ cellphone data firm Unacast said in an analysis concluding that about 46,000 people had left the Bay Area’s 10 counties, with more than 13,000 leaving San Francisco itself. ‘The exodus from both city centers and Silicon Valley is very real,’ and may have resulted in a blow to local incomes of around $12 billion.”

“In San Francisco it meant a nearly 7% drop in the median home price from November to December, a 23% decline in rents over the year, and a 15-year high in available condominiums, according to data posted online by Norada Real Estate Investments. Kansas City Federal Reserve Bank President Esther George said she saw a ‘worrying scenario’ if jobs, population, and work locations reshuffle to such a degree that homeowners cannot pay mortgages and businesses can’t afford leases.”

“‘Any significant change in the location of economic activity, regardless of its specific form, has the potential to significantly affect the valuations of residential and commercial real estate,’ George said, with implications, for example, to the stability of financial institutions.”

From Willamette Week in Oregon. “Parking data shows Portlanders are staying out of downtown. One reason downtown Portland feels so deserted: Its renowned dining scene remains largely shuttered. Another key indicator of how hard the industry has been hit can be found in liquor sales. In Multnomah County, sales to licensees, i.e., bars and restaurants, plummeted 86% from December 2019 to December 2020. In Portland’s central city, average rents are dropping. Perhaps we’re seeing the first effects of a construction boom that started four years ago.”

“But here’s another theory: People are still moving to Portland from out of state, but they’d rather not live too close to the tear gas.”

From My Northwest in Washington. “Local business owner Joey Rodolfo has lived and worked in Seattle for nearly four decades. But after a year that saw property destruction and crime escalate in the downtown core, he decided it was time to pack up and move his company to Arizona. For those still in Seattle, he remains concerned that tensions could come to a head sooner rather than later.”

“‘My wife and I have a condo downtown, and I will tell you, we have talked to plenty of people that live in the neighborhood that are sick and tired of being sick and tired,’ he described. ‘It’s a point of no return in the near future. My belief right now that our city is circling the drain, and it’s going to take something dramatic to turn this thing around.'”

This Post Has 107 Comments
  1. ‘sold his waterfront mansion in Fort Lauderdale’s Las Olas Isles for $7 million…He bought the home in 2015 for $12 million’

    Well it was cheaper than renting. Any given day the media will report that some city or area is red-hotcakes, when I can find reports of a$$-poundings in the exact same spot. We are openly lied to all the time.

  2. ‘The exodus from both city centers and Silicon Valley is very real,’ and may have resulted in a blow to local incomes of around $12 billion’

    Is that a lot? And what I remind myself of is that people would take that money and spend it. And those people would then spend. That’s all broken down.

    ‘In San Francisco it meant a nearly 7% drop in the median home price from November to December, a 23% decline in rents over the year, and a 15-year high in available condominiums’

    Eat yer crowz Thornberg…

    1. They make it sound like it is a total loss. Actually a large percentage 70-90% of the income is still there – but in outer surrounding towns or even further out working remote.

      It is the very expensive cities that will lose out – and will cause (for the general US population) a overall better standard of life

      1. for the general US population) a overall better standard of life

        Having a bunch of city dweebs move here from the city will not improve anything for me.

    2. Despite the collapse of tourism, a major industry in San Diego, I see little evidence the Bay Area price decline pandemic has reached us yet.

      Is it just a matter of time?

  3. ‘In Portland’s central city, average rents are dropping. Perhaps we’re seeing the first effects of a construction boom that started four years ago’

    It’s probably been a year and a half since I posted a report of a luxury apartment project in Portland being defaulted on before any work was done. They just walked away.

    1. The last time I went out to dinner in downtown Portland, which was several years ago, I was impressed that they had a denser population of homeless people out on the sidewalks than I have seen in similar areas of California cities including San Diego, Los Angeles, Santa Cruz or Berkeley.
      Progressive low growth housing policies exacerbate the Fed’s home equity wealth creation efforts, pricing the very same low income population which rich progressives love to pity out of the ability to afford a place to live in.

        1. The thing is that Portland could have been a great mid-sized city. It was a working class town with decent industry. It had nice neighbourhoods, they were starting to rebhab downtown (including Pearl etc) …

          But then they went overboard on crazy left-wing ideas. The literally drove out business to the suburbs and further. Folks with a certain mind-set moved there from all over the country.

          I am not sure how they work their way through this mess.

      1. which rich progressives love to pity”

        What happens to the gated rich when the moat of the middle class gets wiped out ? Look to S America to see real life examples.

  4. From the Seattle piece: “My belief right now that our city is circling the drain, and it’s going to take something dramatic to turn this thing around.”

    There’s not much confidence in the Progressive’s handling of things, so far.

    1. “My belief right now that our city is circling the drain, and it’s going to take something dramatic to turn this thing around.”

      I’m sure there’s a purple-haired tranny somewhere who can fix things.

    2. The thing is that Seattle ‘leaders’ led by the Seattle Times moved from center-left to upper-middle-class left (Durkin is the mayor now). They were cheering the BLM and socialist types through the 2020 protests (CHOP only being one of them). They cheered socialist policies like the head-tax and defunding the police. They were all for shutting down the economy …. and now with work-from-home and businesses failing … they are worried and want everyone to go all in on the recovery.

      —-
      https://www.seattletimes.com/business/local-business/will-downtown-seattle-bounce-back-after-the-pandemic/

  5. Does it seem peculiar or sustainable for TSLA to make more money gambling in Bitcoin than selling cars?

    And every fifth car on the road in California is a Tesla. I am wondering if there comes a point when the market is saturated. I’m not going to buy one.

    1. Tesla makes more money on bitcoin than on cars
      Tesla said that buyers of its vehicles, such as the Model 3, may soon by able to pay with bitcoin. The electric carmaker bought $1.5 billion worth of the cryptocurrency
      MICHAEL REYNOLDS/EPA
      James Dean, Chief Business Correspondent
      Saturday February 20 2021,
      12.01 am GMT, The Times

      Tesla is likely to have made a larger profit from its bitcoin investment in January than it did from selling electric cars in the whole of last year as the value of the cryptocurrency went through $1 trillion yesterday.

      Assuming that the electric carmaker holds as many bitcoins today as it did on January 31, it has made a paper profit of about $930 million, more than the $721 million profit it reported for 2020.

      1. B-school lesson: If a company is making more money outside of its core business, you should question its core business. Not that I needed a reason to question $TSLA’s business model. Hint: RICO. Don’t believe me? Read the SEC whistleblower filings of Karl Hansen and Sean Gouthro.

  6. New York Times — Don’t Go Down the Rabbit Hole (2/18/2021):

    “Critical thinking, as we’re taught to do it, isn’t helping in the fight against misinformation.”

    http://archive.is/9VBwI

    The 2020 election was stolen.

    COVID is a fraud.

    Realtors are liars.

    1. More pearl clutching and bedwetting.

      The Hill — Clubhouse’s rising popularity raises misinformation concerns (2/21/2021):

      “Unlike traditional social media platforms, where a user’s footprint is more permanent, Clubhouse’s chat room conversations are not recorded by the app, making it “essentially impossible” to discern the spread of false information or harassment, Emerson Brooking, resident senior fellow at the Atlantic Council’s Digital Forensic Research Lab, told The Hill.

      “Because your words don’t follow you the same way that they do with a Twitter account, you do feel more relaxed, and that means the app is working as intended. But of course, it means it also poses particular dangers,” Brooking added.

      Brooking said Clubhouse’s model allows users to feel inclined to speak freely, without necessarily contemplating whether they’re sharing accurate information — or the consequences of spreading misinformation.”

      https://thehill.com/policy/technology/539655-clubhouses-rising-popularity-raises-misinformation-concerns

      I’ve never even heard of this app before reading this article.

      Globalists and Real Journalists can not tolerate the existence of any narrative they can’t control.

      Globalists are anti Constitution, anti freedom, and anti America. President Donald J. Trump was, in fact, correct, when he said that “the media is the enemy of the American people.”

      1. That’s the truth. Like we never had any false statements until they started banning people left and right. Just where does this end?

          1. The globalists and their collectivist minions have a pathological need to control the Narrative and quash all expression or WrongThink that challenges their dogma.

            Live Not By Lies

            http://www.orthodoxytoday.org/articles/SolhenitsynLies.php

            Solzhenitsyn penned this essay in 1974 and it circulated among Moscow’s intellectuals at the time. It is dated Feb. 12, the same day that secret police broke into his apartment and arrested him. The next day he was exiled to West Germany. The essay is a call to moral courage and serves as light to all who value truth.

      2. The fake news narratives are no different than false advertising, so I don’t understand how they get away with it.
        Here you have the the Medical Industry, in conjunction with Government, shutting down global commerce, schools, destroying business, making people wear masks and confining them in their homes, pushing rushed vaccines, over a flu they don’t even have a accurate test for..
        The trillions the Medical Cartel is getting by the Government is astounding.
        And all this over a flu that isn’t a real risk for 98.98% of the population. No explanation on why they have never shut down before over flu Pandemics that for decades have been killing older people , especially over 80.
        Right off the bat they had fake models on how many people were going to die from Covid if they didn’t deploy their extreme measures, that was fear mongering at its worse.
        And the lack of merit in pushing a mass vaccine program to jab 70 % of the globe over a flu that dies on its own, but their pushing the narrative of never ending strains for never ending vaccines.
        Their ought to be a law against Government having unjustified Lockdowns that profit the Medical Business and people like Bill Gates who is very heavy invested in vaccines.
        Political motives for the Pandemic are evident also , to actually destroy Trump’s economy, blame him for the deaths, loot the tax coffers, and make it easier to rig a election.
        All the false narratives, or the unjustified false narratives are crimes against humanity and the damage is overwhelming. They should have a trial like they did in Nuremberg over this .
        If the Government proceeds to not allow the populations to do anything unless they can prove they take never ending jabs of endless vaccines, than you have a for profit Big Pharma forcing their agenda , which should be against the Constitution.
        Same with fear mongering Climate Change that’s also a fraudulent narrative that’s misrepresents the entirety of facts.
        The false narrative of racism, white privilege, White people bad, America is bad, is one of the more absurd false narratives, used by Commies to justify overtaking the US.
        Commies have to break down normal Society to overtake it, so creating a enemy called White People is evident.
        Biden attacking 75 million Trump Voters, trying to make them the enemy.
        It’s all so obvious how much Government and Goverment Institutions have been corrupted by these Entities that should be arrested for the ongoing fraud.

      3. Clubhouse’s chat room conversations are not recorded by the app

        Must be why Musk asked to speak with Putin on it.

      4. That article is stunning. “How dare people have informal conversations with no permanent record! Somebody might say be saying something wrong! We must record and fact check it all for their own good (according to our arbitrary standards, of course.)!”

        I wonder how much they got paid to write this propaganda piece.

    2. And I used my critical thinking skills to consider that my source — The New York Times — is paid off by liberals and therefore I should look for liberal bias in any opinion piece. Sure enough, in each example cited in the article, the “wrong” source, the source that you’re supposed to doubt, is a conservative-leaning website. (and of course they cherry-picked the most egregious examples, like q-anon or anti-vax). You’re supposed to skip off that source right quick and find “real” sources. I assume they mean CNN and MSNBC.

      Back in my liberal days during the Bush II Administration, I recall that the same tactics were used by the conservatives. It was Daily K– who were the critical thinkers and trying to suss out the truth. Now, it’s Tucker and breit and the blue-collars who are looking for truth and merit, and liberals who are the propagandists. Ugh, I can’t keep track.

        1. The current false narratives are weapons of mass destruction , and these Entities responsible have just gone to far on this assault against humanity.

        2. That is definitely the case. And I can’t recall a time over the course of my life when the extremists on both sides lied more or took more extreme positions than today. If you are politically neutral, you have the feeling of being caught in no man’s land during combat. I personally fear the left wing crazies more than the right, though find both difficult to deal with.

          1. though find both difficult to deal with

            Left: collectivism/socialism/communism
            Right: individualism/liberty/freedom

            Am I missing something? Because that should be an easy choice.

      1. “The links on this page may be subversive, supremacist, seditious, scurrilous and lots of other words that begin with S. You should not follow the links. You must avoid them. If you can do that, you stand a better chance of staying out of the reeducation camps. Updated every few minutes.”

        News To Keep You Out Of The Camps:

        https://normalamerican.com/news/

  7. ‘This glut of inventory means that prices have even more room to fall, which would then lead to more contracts. So it’s a pretty busy market right now.’

    Falling prices are a great shot in the arm for home sales. The more prices drop, the more investors dump inventory to staunch the bleeding on their investment losses. But this additional inventory has to be sold, providing opportunities for the used home sellers who sell it to earn commissions. And if this inventory sells at a lower price than the previous comps, more investors will feel compelled to offload inventory before losing even more money.

    This virtual cycle of falling prices, increasing inventory and accelerating luxury home sales has the dual benefits of revitalizing the used home sales sector and making luxury housing more affordable. It’s clearly a win-win situation.

    1. Real Estate
      Mortgage demand falls further as rates rise at the fastest pace in months
      Published Wed, Feb 17 2021
      7:00 AM EST
      Updated Wed, Feb 17 2021
      4:54 PM EST
      Diana Olick

      Key Points
      – The average contract interest rate for 30-year fixed-rate mortgages increased to 2.98% from 2.96% last week.
      – Total mortgage application volume fell 5.1% last week from the previous week, according to the Mortgage Bankers Association.
      – Applications to refinance a home loan fell 5% for the week.
      – Mortgage applications to purchase a home fell 6% for the week.

    2. The Financial Times
      US interest rates
      US mortgage rates jump on higher Treasury yields
      Thirty-year fixed loan returns to 3% as inflation concerns feed through to real economy
      A house for sale in Miami, Florida, in January 2019
      US existing home sales were up 24% in January from a year earlier
      © Getty Images
      Robert Armstrong in New York
      2 hours ago

      Mortgage rates for US homebuyers had their biggest jump in more than a year last week, as higher Treasury yields and a rise in inflation expectations begin to feed through to the real economy.

      The average 30-year US mortgage rate sat at 2.99 per cent on Friday, according to Bankrate.com, having hit an all-time low of 2.8 per cent as recently as February 10.

      The shift, lenders and analysts said, was driven by mortgage-bond investors concerned that as the virus subsides, higher growth and inflation could push interest rates up further, leaving them nursing losses. As bond buyers demand higher yields, mortgage lenders, who sell into the bond market, must charge borrowers more to protect their profits.

  8. “The Astor Suite at the Plaza hotel is back on the market for $19.95 million, down from its original $55 million in 2008

    Let us all please observe a moment of silence for all those dear departed Yellen Bux.

    1. Sources tell The Post that Friedrich stands to lose even more money on the deal, since he invested around $8 million into renovating the residence

      How do you spend $8M remodeling? Is everything gold plated? Are the rugs hand woven by the Dalai Lama?

  9. Kansas City Federal Reserve Bank President Esther George said she saw a ‘worrying scenario’ if jobs, population, and work locations reshuffle to such a degree that homeowners cannot pay mortgages and businesses can’t afford leases.”

    Hey Esther, maybe you worthless bastards at the Fed should be worried about the scenario of the real economy buckling under the weight of all the corporate and private debt that’s piled up since 2008, along with the speculative manias due to the Fed’s easy money policies.

  10. Wonder how many kept refinancing during rate free fall to purchase toys and keep up with the Jones’s? Hope they don’t need to refi again. Amazing how a mere 1% increase in rates can demolish a household budget.

      1. I know this time is different, but the last time the markets caught a good whiff of future inflation, stonks cratered.

      2. If the Jones’s salary rises with the inflation, then having a fixed rate mortgage is actually a good thing. But then, it matters which toys you bought with the borrowed money. Your toys better not depreciate faster than the dollars that bought them.

        1. Mafi babe, I’m not expecting a rise in wages at all. That’s why I said “if.” I see a lot of economists on youtube say tripe like “inflation is good; you can pay off the debt with inflated dollars.” Yeah, that works if you’re a corporation who can simply raise prices to make the minimums on your corporate debt. But if you’re a worker bee; forget it. They want you to do gig-economy piecework with no benefits. Your salary will stay the same, your mortgage payments will stay the same, but the prices on your food and expenses will take up more and more of your income. At some point you will need beg the government for a supplement, possibly passing a loyalty quiz to qualify for it. And that’s for the lucky mortgage holders. For those who continue to rent, hoo-boy. [and I’m talking 3-4 years from now. By then all the rent craters in major cities will have bottomed.]

    1. Hope they don’t need to refi again.

      It does seem that 3% is the floor for 30 year mortgages. But what is keeping the Fed from buying up mortgage bonds with negative interest rates from Freddie, Fannie and the FHA?

      Unless, of course, they are OK with the bubble ending now. It has to end at some point, after all.

    2. “…Amazing how a mere 1% increase in rates can demolish a household budget….”

      Mr. Banker wrote an eloquent piece yesterday here on the HBB about the internal gearings of a debt trap.

      Wouldn’t surprise me one iota that >>60% of all households are hopelessly ensnarled or are on the precipice of falling into a financial Venus Fly trap.

      I think a good indicator in the coming months is the amount of chatter in the MSM with respect to debt ‘forgiveness’ of all types.

      After all, how can a Venus Fly Trap survive without an endless supply of new flies willing to sign on the dotted line?

  11. “Kansas City Federal Reserve Bank President Esther George said she saw a ‘worrying scenario’ if jobs, population, and work locations reshuffle to such a degree that homeowners cannot pay mortgages and businesses can’t afford leases.”

    This is only a problem due to the massive leverage that was pumped into the housing market in the form of federally guaranteed loans. If people stop paying their mortgages, then I guess those guarantees will be triggered. Could the Fed just buy up the bad mortgage debt to make good on the guarantees?

    1. “Could the Fed just buy up the bad mortgage debt to make good on the guarantees?”

      It’ll come to this possibly sooner than we think. What mortgagees want to know is, “Will they be able to keep their homes?”

      1. With the Democrats in control, it seems like mortgage payment moratoriums could become permanent. Free housing for everybody!

        1. Footnote: To the degree they aren’t already, Millennials would be even more priced out of the housing market forever.

          But nobody can stop them from buying their Gamestonk and Bitcoin.

      2. “Could the Fed just buy up the bad mortgage debt to make good on the guarantees?”

        I bet they will want something in return

        1. What they get is avoiding a collapse in housing prices that normally occurs when millions of households stop paying their mortgages and lose their homes.

    2. My wife read a Wall Street Journal quiz to me and my son yesterday. One of the questions regarded what share of U.S. mortgages were federally guaranteed. Among the answers were 25%, 50%, and 75%. My son and I both guessed low at 50%.

      1. With home prices at these levels it’s a certainty that a government “bag-holder” entity is involved. Fanny and Freddie investors aren’t entirely stupid.

      2. My son and I both guessed low at 50%.

        IIRC, Ben posted an article that loans not backed by the Fed are not eligible for mortgage forbearance. The article itself confirms that 25% of loans were not federally backed, which mean 75% are.

        But that may change soon. The Fed is printing money and telling banks to lend it out. But banks don’t want to lend to a general public which can’t pay the loans back. So banks are kicking money back to the Fed. The Fed has to do something with it, so they are buying EVERYTHING, even junk bonds, just to get any kind of yield. So it wouldn’t surprise me if they are already buying the bad debt.

    1. I think that a Mars bar would be more valuable and sought after in a Martian colony than a make believe currency.

      On that topic, if you’re a foodie you might not want to be a Martian colonist.

      1. Earth bars are also more valuable than make believe currencies, which makes me wonder about the New York bar owner’s decision to accept payment in Bitcoin for his two locations. Maybe he is so rich from his crypto HODLings that he doesn’t need the money.

        1. My point was that on Musk’s imaginary Marian colony, a candy bar might be worth its weight in gold, as there simply won’t be any (A Mars bar is similar to a Milky Way candy bar)

    1. My friend who took the vaccine said he still has to wear a mask.
      So, that’s crazy because aren’t you suppose to be protected after you get the shot?
      In summary, my friend was saying that he didn’t understand it either. And this guy has breathing problems to begin with.

      1. Masks do have the annoying effect of creating breathing problems where there were none.

        I am a longtime blood donor who has given over 3 gallons to the San Diego Blood Bank over the past 15 years. The last time I went in to donate, they required me to wear a mask. When mask-induced laryngitis kicked in, they decided I might have COVID-19 and wouldn’t let me donate.

        I’ve notified them that I won’t attempt to donate again until the mask requirement ends, which I guess could be forever.

        1. They only want my blood if I agree to sit for hours while they spin the plasma out and inject the rest back in. I’ll give a pint takes minutes but I wont sit for hours during a plasma donation.

      2. There’s a fair amount of confusion about whether the vaccine reduces the risk of getting COVID-19 or just makes your case more mild if you get it. The latest I have read suggests likely both.

        1. My mom and stepdad both had COVID last September. They are in their 70s, they recovered, and have both been vaccinated. Those of us under the age of 50 (that’s a 99.98% survival rate for all the Reddit neckbeard lockdown lovers) are moving on with our lives.

          I predict that Denver will be the last city in the state to lift the mask mandates, and I can also predict with 100% accuracy I will not be spending money in and generating sales tax revenue for the City of Denver. I’ll drive down to Douglas County to do my grocery shopping before I give my money to the tyrants that run Dumver.

          And to all the people who drive around Denver alone while wearing a mask, I suggest a plastic bag over your head with a ziptie around the neck instead. It’s 100% effective against getting infected with the CCP Flu.

      3. I listen to John Campbell so you guys don’t have to.
        FYI, please pass this on:

        The vaccines are effective, but they are slow-acting. New data just came from Israel, a country that is vaccinating like mad. They are finding that the Pfizer vaccine doesn’t provide any immunity for at least two weeks. Then, the effectiveness skyrockets from ~0% to 90% in the third week. Indeed, Israelis who got the Pfizer vaccine were more likely to get COVID in those first couple weeks than those who didn’t get the shot. Reason: those who got the shot instantly ripped off the mask and went to have a cold one, before the immunity kicked in. And, oh, alcohol decreases the effectiveness of the vaccine. And so they got COVID.
        So if you get a shot, mask up and no booze for those three weeks.

        Similar data was identified in the trials for the J&J vaccine. My guess is Moderna and Astra-Zeneca are the same.

        Plus, we’re still not sure whether vaccinated people spread COVID. That’s why the masking is going to go on for a while. Ideally, we would stay masked until 70-80% of the population gets at least one shot and waits those 3 weeks. (won’t happen, but that’s the ideal). But even that should be done by this fall. 2022? Fauci is pooping out of his mouth.

        ——————

        If you don’t want to watch the video, Dr. Campbell puts his notes in the description:

        https://www.youtube.com/watch?v=Xo2QQTmbECQ&ab_channel=Dr.JohnCampbell

        1. ‘Covid’ doesn’t exist. It’s just the rebranded seasonal flu/cold. The stats back this up. Sweden/Florida/SD….the world actually. Wake up.

          You can have my dose.

    2. I expect Chinese Americans to cower behind their masks next flu season, just like they do every year. Not so much the rest of us…

      1. My health care provider the other dat was nagging me to get a flu shot. Given that almost no one has been getting the flu, I don’t see the point.

        1. Now we know that if most of us hide out under our beds all winter and only go out wearing one or maybe two masks plus a plastic face shield, we needn’t bother with those pesky flu vaccines any more.

        2. I will not take a vaccine that’s a. byproduct of a false narrative news system thats bought off by Monopolies that have corrupted the Government.
          If the tests aren’t accurate the very premise of a Pandemic is BS to begin with.
          When it comes to taking a rushed vaccine , I wouldn’t take even a cough drop from these crooks.
          It’s all about fear mongering to get people to suspend their common sense so Big Pharma can jab you endlessly as well as control you life with corrupted Big Government. Nothing adds up, yet people are willing to be injected by a for profit Big Pharma that has no liability for any damage they cause by a vaccine. Would you normally take or buy something that the producer has no liability. And if they had to suppress all facts and dispute is that a Entity you can trust with your life, Hell No. unreal.

          1. With no liability and limited, if any, preclinical and clinical trials, these vaccines are a financial windfall for the pharmaceutical industry.

  12. We have a Atlas Shrugs brake down of systems in part due to Socialism/ Big Government.
    In the book Atlas Shrugs, all the rich inventive Capitalists disappeared and went to their own island under a leader called John Gault. So, the weigh of Commie and Socialist programs was causing failures because the Capitalists decided to leave.
    The only problem with the capitalist of today is they are parasitical looters corrupting Government to cheat and power grab
    Ayn Rand in Atlas Shrugs portrays the Capitalist as noble creatures who wouldn’t think of creating Monopolies or cheating by rigged systems, or wanting power for a One World Order of looting.
    The Commies/ Socialist were always the Bad Guys in her books, but never the Fat Cats who just wanted to produce and not cheat or loot the Society.
    I think Ayn Rand would be shocked at the Globalist Monopolies Capitalist that are as evil as the Commies portrayed in her books.
    But, Ayn Rand did show the evil of Communism or any parasite mentally, but she didn’t perceive parasite looting Monopolies that corrupt government to steal just like the Commie do.
    Ayn Rand was born in Commie Russia, than came to America, and she had good insight about the evils of Communism, but not about Monopolies.

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