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This Mass Exodus Has Left Owners And Landlords With An Accumulation Of Vacancies And Not A Lot To Stand On

A report from the New York Times. “In only a year, the market value of office towers in Manhattan, home to the country’s two largest central business districts, has plummeted 25%, according to city projections. Across the country, the vacancy rate for office buildings in city centers has steadily climbed over the past year to reach 16.4%, according to Cushman & Wakefield, the highest in about a decade. That number could climb further. ‘We are just going to be bleeding lower for the next three to four years to find out what the new level of tenant demand is,’ said Jonathan Litt, chief investment officer of Land & Buildings, a real estate investment firm that has taken a bearish view of the New York office market.”

From Bloomberg. “‘The terms of loans going in to CRE CLOs (commercial real estate collateralized loan obligations) were weak, and so there may have to be some comeuppance,’ said Dan Zwirn, chief executive officer of Arena Investors. In several property sectors, there is a new reality, he said. ‘Post-Covid, it’s plain for all to see: in office buildings in dense urban areas, for example, occupancies are lower, rents are lower, and if you dealt with people leasing space, there are enhancements on leases, such as tenant improvements, or they gave some free months or even free years,’ Zwirn said.”

“CRE CLO managers often own a large equity piece of the transactions, so usually have an incentive to avoid defaults. But while CRE CLO managers have done what they can — often buying out a loan from the pool, replacing it, or modifying it — that approach may not last forever. That means some borrowers may eventually have to face default. ‘Patience won’t be infinite on the part of the CRE CLO manager who wants to bring a positive return to the equity she or he owns,’ Zwirn said.”

From Bisnow New York. “Investment sales in the nation’s biggest real estate market dropped significantly in the first quarter of the year, hitting their lowest point in a decade following a glimmer of hope in the second half of 2020. ‘It’s not enough data to really support what’s going on here,’ Avison Young Tri-State Investment Sales Group principal James Nelson said. ‘Unfortunately, I think that with office sale prices it’s going to have to get worse before it gets better.'”

“Manhattan’s most active class was multifamily, with $667M changing hands across 13 buildings. The dollar volume was more than double the trailing average, and those assets are increasingly priced to move, with per-SF prices down 14% from the previous three quarters’ average. Cost of land dropped 8% in the first quarter as well, with 17% fewer transactions than the trailing three quarters.”

The Real Deal. “Manhattan’s biggest distressed hotel deal of the pandemic just closed for $175 million. Isaac Hera’s Yellowstone Real Estate Investments bought the 600-room Watson Hotel at 440 West 57th Street. Yellowstone bought the leasehold on the property as well as the mortgage held by HSBC, which shopped the loan around after Richard Born and Ira Drukier’s BD Hotels defaulted last year.”

From The Advocate in Louisiana. “Conference Center in north Lafayette has been sold and will be converted into over 200 apartment homes later this year. Covington-based Servio Capital and other investors bought the 244-unit hotel that served as one of three full-service hotels in the Lafayette area but had gone into foreclosure last year when hotels struggled during the coronavirus pandemic. The purchase is among several across the country that have either gone into foreclosure or sold at a discounted rate as a result of the pandemic.”

“‘I’ve been a real estate investor for over 20 years, and we did very well after the housing crash of 2008 with the foreclosure market,’ Servio CEO Ryan Enk said. ‘This is the same thing, only larger. Hotels are getting crushed. People are meeting less, and the Garden Plaza really thrived on the meeting business.'”

“Almost 20% of U.S. hotels with securitized mortgages were delinquent on their loans by November, according to the Wall Street Journal. That coupled with some markets that overbuilt — some in the Lafayette market have indicated it has too many basic hotels for its size.”

From Bisnow Boston in Massachusetts. “Combined with a peak of more than 8,000 units delivering this year and a hot single-family housing market, urban landlords are feeling the pressure to remain competitive with tenant-friendly deals. Multifamily leaders say a full recovery still feels a ways off. ‘Tenants are realizing that there are a lot of opportunities and a lot of deals that they can find right now,’ Senné Managing Director of Property Management Kate Pattison said.”

“The average one-bedroom rent in Boston sits at $2,090, a decline of 16.4% since last year, according to Zumper. Average two-bedroom rents fell 10% to $2,600, slightly less than Cambridge and Brookline. Rents near Boston’s busiest downtown transportation hubs remain depressed. Average rates for apartments near four downtown MBTA transfer stations have declined more than 23%. Bower, a 321-unit Fenway complex, opened last August amid the beginning of the rent free fall. The complex is offering up to two months of free rent for new leases.”

The Commercial Observer on Florida. “The pandemic has taken its toll on the high-flying street, where rents in the last three to five years, pre-pandemic, had been as high as $350 per square foot, the brokers said. Rents on the street are now closer to $150 per square foot, or even $100 per square foot, although it is hard to pin down actual rents, said Larry Soroka, director of investment sales at Koniver Stern Group, a brokerage specializing in retail real estate.”

“In the last five or 10 years, the sale prices for buildings went up to $1,000 to $2,000 per square foot, while rents were priced from $200 to $300 per square foot, said one local broker. Today, as Lincoln Road is still feeling the effects of the pandemic, it is hard to know what tenants are paying, Soroka said. Some landlords are settling for much lower rents to keep their spaces filled, while others are leaving their spaces empty rather than settle for lower rents.”

The SFist in California. “In recent years, the real estate market in San Francisco has been extremely desirable for renters, as well as a lucrative investment for property owners — especially with the city’s chronic shortage of housing. SF has consistently ranked atop the list of most expensive cities to live in the United States. However, as pandemic fallout has seen unprecedented migration shifts and rent decline nationwide, SF property owners have been hit the hardest, with rents having decreased nearly 27% between early 2020 and early 2021.”

“This mass exodus of renters from San Francisco has left owners and landlords with an accumulation of vacancies and not a lot to stand on.”

From Livabl in California. “Los Angeles’ rental market may have started to bounce back after 12 consecutive months of stagnant or declining prices. The latest report from apartment rental platform Zumper indicates that one-bedroom median rent ticked up 0.5 percent on a monthly basis in March to $1,910. Although the price is down 15.1 percent compared to the same period last year. With the exception of March and November of 2020, when prices remained flat, one-bedroom rent had fallen every month since the start of the pandemic.”

“Median two-bedroom rent saw a continued monthly drop of 0.4 percent, amounting to $2,650. The price has plunged 12.8 percent from March 2020, representing a difference of $390.”

From Bisnow San Francisco. “Office and multifamily are still languishing in S.F. especially. Yet many in commercial real estate think that this too shall pass and quickly at that. ‘It’s going to be the Roaring ’20s all over again,’ Safehold & iStar Senior Vice President Tye Palonen said. ‘Hopefully, without the Great Depression to follow.'”

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This Post Has 102 Comments

  1. ‘It’s going to be the Roaring ’20s all over again…Hopefully, without the Great Depression to follow’

    Click!

  3. ‘In only a year, the market value of office towers in Manhattan, home to the country’s two largest central business districts, has plummeted 25%’

    Today more than ever, you have to think for yerself. The media lies constantly. So what does a 25% drop mean? Disaster. Recall the globalist WSJ report around a year ago that CRE had seen appraisal fraud mark up the paper as much as 40%. And that “owners” had been on a cash out refi spree. All across the US.

    1. Resale prices are at triple construction costs. You don’t get there without rampant appraisal fraud.

        1. Land never goes down, not usually, at least…

          “Cost of land dropped 8% in the first quarter as well, with 17% fewer transactions than the trailing three quarters.”

  4. ‘one-bedroom median rent ticked up 0.5 percent on a monthly basis in March to $1,910. Although the price is down 15.1 percent compared to the same period last year’

    Here we go. I see it a lot. Ooh, the bottom is in! Yeah, well what’s the effective rents then? Here’s an example:

    https://www.bizjournals.com/sanfrancisco/news/2021/04/07/cmbs-club-quarters-blackstone-loan-hotel.html

    The REIC says, there aren’t many foreclosures (even though they pile up day after day). What they don’t say is a “market” needs to clear weak hands to recover. Sure, lenders are kicking the can cuz they would take a serious a$$ pounding trying to sell these overbuilt airboxes. But oversupplied they are, and you can’t have yer cake and eat it too.

  6. This is Miami, BTW:

    ‘the high-flying street, where rents in the last three to five years, pre-pandemic, had been as high as $350 per square foot, the brokers said. Rents on the street are now closer to $150 per square foot, or even $100 per square foot,’

    How do those 5% cap rates look now?

    ‘In the last five or 10 years, the sale prices for buildings went up to $1,000 to $2,000 per square foot’

    You had yer boom, enjoy the bust.

    ‘Some landlords are settling for much lower rents to keep their spaces filled, while others are leaving their spaces empty rather than settle for lower rents’

    That’s right landlords, don’t give it away. Of course, you aren’t really a landlord if you aren’t renting.

  7. ‘I’ve been a real estate investor for over 20 years, and we did very well after the housing crash of 2008 with the foreclosure market…This is the same thing, only larger. Hotels are getting crushed’

    This guy is right, it is larger.

    ‘Almost 20% of U.S. hotels with securitized mortgages were delinquent on their loans by November, according to the Wall Street Journal. That coupled with some markets that overbuilt — some in the Lafayette market have indicated it has too many basic hotels for its size’

    There are many examples of QE creating deflation, and hotels are a perfect example. Funny money looks for a place to die. Hotels pop up on every corner. Oversupply drives down the price of everything in sight. This was all in place prior to the CCP virus.

    http://www.hospitalitynet.org/news/4082501.html

    http://www.nrn.com/finance/restaurant-oversupply-worsens

    http://www.rstreet.org/2017/07/24/is-the-real-estate-double-bubble-back/

    1. A house for a rent, why is this a news?

      From the article. “They plan to come back. They love Weston,” said Debbie Rehr, the listing agent.”

      No Debbie you are a lion. They are not planning to come back. They can’t sell that’s why they are renting. They won’t be able to rent it either.

    2. well its a great location, a dead end street and as long as there is no barbed wire fence at the end of the road (in weston?) , they can walk 50 feet and get on school road to all 3 schools

  10. We have never seen a time when the major Media has been so unreliable, and often completely false in it’s reporting of news ,or anything …That’t why I like this site, especially the comments ,where ideas are often presented ,and not pushed on you so much

    1. Oh some still push their stupid beliefs even though they have been proven false.

      Some examples:

      “rents always go up”
      “2011/12 was the best time to buy”
      “most stringent loaning standards ever”
      “there are no sub-primes”
      “my zestimate is going up everyday”
      “the demand is natural and organic”
      “housing vacancy is at the lowest point ever”

      so on and on…..

      1. Median house prices to median household incomes confirms that housing is overpriced.

        It’s a bubble, and Realtors are liars.

    3. We have never seen a time when the major Media has been so unreliable, and often completely false in it’s reporting of news ,or anything

      It is sobering when you realize that everything you are told is a lie.

  11. Risk assessment in lending is not operative anymore. How do you think the Stock Market inflated in the 20’s. It was by giving every Tom , Dick, and Harry a 90 % loan to buy Stock. It artificially raised the price, until it crashed in 1929.

    They enacted the Glass Steagall Act after that to prevent lending from creating a false market. President Clinton got rid of the Glass Steagall Act, in spite of that Act serving this Country well for 70 years. Wall Street and Lenders were limited by the Glass Steagall Act in creating false markets.

    Now we have nothing but faulty lending and unsusttainable debt that creates a artificial bubble in prices. What do the market makers care when they can transfer the risk to the Government back loans, or get bailed out by the Government, as what occurred under the Obama Administration.

    Its a method of looting by the Fat Cats, whereby than the loss gets socialized to the tax coffers. Its rigged to create wealth for the Chosen at the expense of Society.
    So, Society is cheated out of reasonable housing costs and lured into buying into a contrived bubble market that will crash eventually. These are rigged markets where lending risk is a joke.
    Not only do you get your rents artificially raised by this insanity, the ability to even buy shelter is based on reckless lending . Same old story of giving people loans they can’t afford, than it crashes and the Bag holders get creamed. No different than 1929 when no regulation existed on lending that raised the Stock Market to the sky.

    We are back to the deranged concept of real estate always goes up, and get in now or you will be priced out forever. And the lending gets more fraudulent as Greater Fools are needed to keep the bubble going.

    So, in every way this Oligarchy we live in has screwed up markets and Government failed at protecting the public . And now the Globalist Monopolies want to rule and Monopolize everything and control the populations in everyway while they take freedom after freedom.
    I think they will fail , but I don’t exactly perceive how that will take place yet. They seem to be winning right now in advancing their Tyranny . That treasonous creep jerk Puppet Biden in the White House is going to do a lot of damage no doubt.

  12. Will the Biden regime emulate the example of its CCP ideological comrades and attempt to curb the housing bubble?

    Beijing orders five Chinese cities including Guangzhou, Dongguan to rein in their runaway house prices

    https://www.scmp.com/business/china-business/article/3128926/beijing-orders-five-chinese-cities-including-guangzhou

    China’s central government has told the leaders of five cities to rein in their overheated residential property markets in a move analysts believe signals Beijing is prepared to intervene directly where required.

    The deputy housing minister summoned top officials from Guangzhou, Hefei, Ningbo, Dongguan and Nantong on Thursday and instructed them to to roll out cooling measures where needed, according to the Xinhua state news agency.

  13. so there may have to be some comeuppance,

    Finally, the word used correctly. Last week or so, an article quoted someone saying “We want our comeuppance.” Nobody wants a comeuppance.

    (but to be fair, I believe it was a minority who said wanted a comeuppance. POC culture uses the word “come-up” to describe a swift rise from being poor to being bling-rich. I guess “comeuppance” is that noun form of that concept.)

  14. Lumber Shortage??? Stacks On Stacks On Stacks

    18,566 views•
    Apr 9, 2021

    409 Comments

    boilednuts
    19 hours ago

    reminds me of the early 70’s when we had long gas lines and oil shortages but in fact the oil refineries were bursting at the seams with oil products. They were in trouble of shutting the refinery down (which is very costly after starting everything up again) because they were out of storage space. There is so much evil in our world.

    Derrick Morrison
    20 hours ago

    I installed a new photocopier at a lumber mill in Nova Scotia last week. They seemed to have lots of lumber in their yard and told it was about average in anticipation of a typical spring building season. The inventory was neither high nor low.

    Adam Watts
    15 hours ago

    what mill was that?
    I know Delco forest products are offline for 3 weeks. Didn’t asked why just took what I was given.

    Derrick Morrison
    15 hours ago
    Taylor Lumber, Middle Musquiodobit. They supply LumberMarts in Nova Scotia.

    https://youtu.be/9nW4drJW37U

    1. early 70’s when we had long gas lines and oil shortages but in fact the oil refineries were bursting at the seams

      I was there, at the Exxon Bayway refinery in Jersey.

    2. reminds me of the early 70’s when we had long gas lines and oil shortages but in fact the oil refineries were bursting at the seams with oil products.

      The more things change, the more they stay the same.

    3. “…reminds me of the early 70’s when we had long gas lines and oil shortages…”

      Yeah, that was during the 1973 Yom Kippur war when the U.S. supplied Israel with sophisticated arms pushing the OPEC countries to an oil embargo. France used to supply their weapons, but they wanted to be paid for them; enter the U.S. arms industry.

  15. boots:
    Listing inside an area 5 miles square around my house.
    52 Existing SFH For sale not yet pending
    114 Existing SFH Pending
    254 SFH sold in the past 90 days
    123 Existing condo/townhome for sale not yet pending
    117 Existing condo/townhome for sale pending
    235 Sold in last 90 days

    Conclusion: errr, red hotcakes. SFH seem a little more popular. People want yards I guess.

    1. Conclusion: errr, red hotcakes.

      In my neck of the woods it depends on the price point. Below 400K seems to sell quickly. On my street (600-900k) it takes about a month or two to sell.

      2. Yes, I am the loan owner of an SFH with a yard. But that doesn’t change those stats from Zillow, which are real. SFH with yard are going under contract very quickly these days.

  17. Off topic here, but relevant to the current situation we are in. I turned on a Yankees baseball game a few days ago at the behest of my nephew. Personally, I have completely turned off all sports after the woke BS, but I don’t want that to impact my relationship with my young nephews so I turned it on for him, albeit briefly. I was floored. During the broadcast, they brought a doctor into the booth who was urging everybody to get the jab, and really talking up “the science.” That was all I needed to see to realize that my decision to avoid this like the plague is a good one.

    On another note, I saw that the SF Giants are requiring either a vaxx certificate or proof of a negative COVID test if you want to enter their ballpark. Not that I had ever intended to, but no way in hell I will ever show a business anything about my personal health situation. Can you imagine if they did that to AIDS patients? This stuff is out of control.

    1. No cable, no MLB. Once in a while I’ll peek at the local evening news (I have an antenna). All they talk about is the vaccine.

        1. I’m certainly NOT going to subscribe to the MLB’s (or any sportsball) streaming channel.

          Never willingly give your money to people who hate you.

          2. It’s all free.

            That’s not my experience. When you try to watch online, they ask for your cable/satellite subscription info.

          4. That’s not my experience. When you try to watch online, they ask for your cable/satellite subscription info.

            I’m not sure what you’re doing, but you’re doing it wrong. I have been watching any game I want online for free for 6 or 7 years until they all went woke. Then I stopped caring.

            Sportsurge dot net has every game of all major sports, and you can even choose home or away announcers. There are multiple streamers for every game. Again, live streamers have been doing this since before I cut the cable cord 7 years ago or whatever.

          5. ’m not sure what you’re doing

            Say I go to the CBS sports website and try to watch a game. A login pops up and asks me for my cable provider. Since CBS pays top dollar for broadcast rights, I suspect there is a catch with sportsurge. Are the games live?

          6. Going to CBS and expecting to watch something for free would be like showing up to Netflix and doing the same. No bueno. 🙂

            There are no “catches” or gimmicks, all the games are live, and they are in 1080 and HD. I recommend an ad blocker. Go check it out. Click on “baseball” and “Nationals at Dodgers” and choose a stream. As long as you have a high speed internet connection, you’re golden.

            And like the poster Deplorable talks about, this is giving no ad revenue or money to the globalist media cvcks. They get no grift off this for their bad whitey/woke narrative.

          7. I recommend an ad blocker.

            Ah, there’s the catch. But circumventable. But, in any case, I wouldn’t watch anyway.

          8. I did a little research on sportsurge. From what I read, their streams are pirated and are thus illegal. So I guess that technically it’s “free”, just like how attending a game at a stadium is free if you sneak in.

            Anyway, so while I won’t pay to see games, I also won’t pirate them.

          9. “Ah, there’s the catch.”

            Ads are not a “catch.” They’re on every website and blog. They’re right here on this blog, yet I don’t see the “catch” with Ben’s blog. Alas, I think you just wanted to argue and nitpick and “be right” so I am sorry I even went to the effort to talk to you. I will avoid that in the future.

          10. Ads are not a “catch.”

            Fair enough. But as I mentioned above, after doing a little research I learned that sportssurge’s “programming” is pirated. That isn’t free, it’s stolen.

          11. I learned that sportssurge’s “programming” is pirated. That isn’t free, it’s stolen infringed

            ftfw 🙂

    2. During the broadcast, they brought a doctor into the booth who was urging everybody to get the jab, and really talking up “the science.”

      During a sports event I’d expect a $2,500 coupon good for 60-days at your local Ford truck dealer for getting the jab.

  18. Who ever said that vaccination of 7 billion people is the remedy on a flu that mostly is a risk for under .01 % of the population, mostly very old people with other terminal conditions. This is especially true when its a new technology and a experimental vaccines that wasn’t time tested.

    This is a outrage how the profiteers of Vaccines got a unjustified Emergency Pandemic declared to get around normal FDA requirements, using a bogus test to up the numbers, and bogus projections on the death risk. They were not justified with extended lock downs, mask mandates and destruction of business and peoples freedoms. Plus remember they have no liability for damage cause by their vaccine product.

    After hearing a number of Doctors disclose that its a big money making scheme by Big Pharmacy , and forcing vaccines repeatedly and controlling people , and its not really for health or saving lives.

    One third of most Doctor practices depends on profit from vaccines, especially Pediatricians. The other third of revenue comes from dealing with inflammation and immune function problems, probably caused by the vaccines and toxic products people consume, which includes some of the meds prescribed.

    These days Doctors are so bullied to abide by the Standard of Care outlined, as well as the Schedule of Vaccines outlined. The Medical board keeps close taps on the Doctors. They subject the Doctor to a Medical Board kangaroo Court if they don’t push the recommended standard of care, which usually involves prescribing meds on a long term basis.
    In fact the Doctors don’t get a lot of education on vaccines in Med School, and they are told its safe and effective and doesn’t cause any damage until they start noticing incidents of adverse reactions over and over again when they get in practice.. Than they make the decision if their paycheck is worth doing things they are bullied into and don’t actually agree with. After spending about 10 years to become a Dr. to begin with, its hard to buck Big Pharmacy Medical Cartel . This is why you get a lot of silence from Doctors that don’t actually agree with what is going on.The Doctors who are talking are being censored big time.

    I’m just repeating the disclosures from numerous Doctors I have heard in the last year. You ought to hear how much aluminum they pump into you with a vaccine, which is toxic to the body.

    1. I’m still amazed that people are tripping over each other for vaccines that is officially experimental, and for which they have to sign away, acknowledging that the vaccine could kill them and that they can’t sue.

      A colleague in Clownifornia drove a freaking hour to get a shot.

        1. You have a much greater chance to die from COVID-19 than from the vaccine.
          Agreed. My Dr looked at my data and said in a very matter of fact tone: “you have a 2 in 100 chance of dying if you get Covid. Try not to get it.” Yes I have gotten my first shot.

          1. “you have a 2 in 100 chance of dying if you get Covid…”

            That’s a meaningless statement since it implies that everyone is at equal risk of death. Your doctor flunked his biostatistics class since he’s making a sweeping generalization that is false. Ask your doctor about the “risk factors” for bad Covid-19 outcomes. Covid-19 is a very unequal opportunity disease–the risk of death varies enormously by age. Virtually no young children die of it and you’re almost guaranteed to kick the bucket if you’re 90+.

            For certain people the risks out way the benefits for getting the vaccine. Governments are doing the “thinking” for the masses since they think that people are too stupid to understand the concept of “risk factors”. So all the governments around the world have come up with a universally stupid response to this “pandemic”.

    2. “…on a flu that mostly is a risk for under .01 % of the population, mostly very old people with other terminal conditions.”

      What flu are you talking about?

      Fyi, around 1 out of 578 U.S. citizens died of COVID-19 since last winter.

      1. “.01 %”

        That’s only 1 flu case per 10,000 people? Doesn’t seem worth worrying about.

        By contrast, about 1 in 10 U.S. citizens have had COVID-19, including 1 out of 3 of my own family members.

        1. Professor Bear,
          I’m talking about the death rate from some respiratory diseases they are calling Covid.
          I’m not talking about all the people that tested positive, many who weren’t even sick, by that bogus inaccurate PCR test they use.

          Show me 1 in 10 got Covid by proving it with a blood sample under a microscope.Certainly one in ten didn’t end up in ICU being under threat of dying.
          Yes I know your family got sick this year because I remember you talking about it. I’m glad you all recovered.

        2. Nobody knows how many people have died of Covid-19 in this country or any other country around the world because the World Health Organization made the idiotic mistake of changing the ICD coding rules for people infected with Covid-19 who happen to die. WHO changed the rules of the “counting dead people” game right in the middle of the 5th inning.

          Even figuring out the number of excess deaths that have occurred in 2020 isn’t possible right now. If you can’t even figure out the number of excess deaths that have occurred you sure as hell can’t figure out how many of those “excess deaths” were caused by Covid-19.

          The data being produced by governments is just garbage. The lockdowns are stupid. Limiting the number of people in supermarkets is like black magic potions. Nothing being done to combat Covid-19 has an ounce of scientific evidence and proof behind it.

          It’s only effect has been to turn entire nations into sheep who just got their civil liberties clipped. Funny how people will just walk into the slaughterhouse and have their jugulars cut.

          1. ‘Even figuring out the number of excess deaths that have occurred in 2020 isn’t possible right now’

            Notice the lack of life insurance companies going under. No bring out yer dead carts – evah!

      2. 1 out of 578 U.S. citizens died

        For what it’s worth, the past is not a prediction of forward risk. Also FWIW, since the number of deaths in 2020 isn’t significantly higher than expected, it’s impossible to judge risk of death with any of the numbers provided by Big Brother regarding this Plague of all plagues. One thing only has been crystal clear and that’s the hysteria.

  19. I was interested in a house 18 months ago that was taken off the market shortly after I saw it because of an ill parent. Well, it went back on the market yesterday with a 45% price increase!

    1. You should get a life crushing mortgage and buy it. Add another 10% so you can come back here and wear it like a badge of honor and say “I paid over asking!”

          1. Have either of you been to AZ, Boston, DC or NYC in the summertime? Poway is not that hot.

          3. I’ll take the 10 degrees in temperature not to have the homeless problem and traffic that Encinitas does.

          4. the homeless problem and traffic that Encinitas does

            Bummer, I remember when Encinitas and Leucadia were very chill. And you didn’t have to be a millionaire (or homeless) to live there.

      2. It has very dated 1990s Tuscan decor as well as a pool and tennis court that both need resurfacing.

  20. Home
    Real Estate
    A California couple bought a home over a year ago, but because of a legal loophole the previous owner refuses to leave
    Mary Meisenzahl
    Mar 20, 2021, 11:10 AM
    for sale sign
    Willowpix/Getty Images
    – A couple bought a home for half a million dollars in California in 2020, but haven’t moved in.
    – The seller refuses to leave the property, though its been over a year.
    – The couple’s real estate agent says the seller is taking advantage of the state’s eviction moratorium.

    A couple bought a home in Riverside, California, in January 2020, but over a year later they haven’t been able to move in because the seller refuses to leave, Fox 11 LA reported.

    Tracie and Myles Albert bought the four-bedroom home in cash for the asking price of $560,000, real estate agent Chris Taylor told Fox 11. After the sale went through, though, the seller refused to turn over the keys or leave the home, the agent said.

    “It’s genuinely unfathomable to me that we live in a state where something like this is even possible. They closed escrow on this home January 31, 2020,” Taylor told the news station. The couple closed on the house weeks before state-mandated lockdowns and other measures — including a moratorium on evictions — were enacted to deal with the coronavirus pandemic.

    Meantime, California Gov. Gavin Newsom has signed a bill extending the state’s eviction moratorium through June 30, 2021. The couple and real estate agent say that they’ve tried to get the seller evicted, but authorities say their hands are tied.
    …

    1. There are just too many real estate victims in California to begin to count them all…

    2. the seller refuses to leave

      Doesn’t pass the smell test. The new owners are not “landlords” and the sellers that sold are not legitimate “tenants” to be protected from Covid income loss. Sounds like fraud and breach of contract, or something.

      1. This story has been posted a couple of times. There were plenty of red flags, including the realtor.

  21. Interview by Patrick Delaney on LifeSiteNews of Dr Mike Yeadon.
    “Exclusive -Former Pfizer VP: ‘Your government is lying to you in a way that could lead to your death.’

    I put where you can find this interview with Dr Mike Yeadon, Priest’s former bland Chief Scientist for allergy& Respiratory who spent 32 years in the industry leading new medical research and retired with ” the most senior research position”, in his field.”

    The interview is chilling and it deserves a read where its located that I mentioned above..But here is a brief summary of some of the stuff talked about.

    (1) why the Mutant Variants from Covid are not a threat, and how they plan to make these booster shots when the know they aren’t needed.
    (2) no reason for vaccine passports and this” could
    Issue in a totalitarianism unlike the world has ever seen.
    (3)The Dr says the Government is lying to us
    Many other things said.

    He also said ,”I’m very worried …that pathway will be used for mass depopulation, because I can’t think of any benign explanation.”

  22. Professor Bear,
    I’m talking about the death rate from some respiratory diseases they are calling Covid.
    I’m not talking about all the people that tested positive, many who weren’t even sick, by that bogus inaccurate PCR test they use.

    Show me 1 in 10 got Covid by proving it with a blood sample under a microscope.Certainly one in ten didn’t end up in ICU being under threat of dying.
    Yes I know your family got sick last year because I remember you talking about it. I’m glad you all recovered.

  24. Because the best way to depopulate is to invent a disease that old people die from and young people

    1. If the Monopolies have a depopulation plan by using the Medical Monopoly to accomplish that goal, than that would be more evil than Hitler, or any villain from History.

      If the Medical Tyranny is designed for a profit making, and control of populations, and taking of freedoms by forced vaccine, than that evil also.

      It appears that all the Monopolies are working in conjunction to control free speech and information, and Government Agencies are doing what these Entities want.

      These Entities have had a long term plan apparently to have a One World Order under their ruleship. Just hearing some of them talk about the 4th great Industrial Revolution, and the Great Reset is crazy. They want to alter the human race by some God like Dictorship . Altering humankind to their vision by social engineering and even perhaps altering the DNA, is on the agenda.
      It looks like they want to mess with mother nature in every way, but not in a good way.
      Its noticeable that they look at humankind like a bunch of cattle that is there to screw with.
      I think there will be major rejection of their agendas in the long run because they are anti human and arrogant.
      One of them said in essence that Science shouldn’t be in the business of healing life, but should be in the business of pro death, so that a greater version
      of humans can be created. Doesn’t that sound so Hitler like and mad hatter Scientist cult of destruction to create a Super race, no doubt using Robots in the mix of this contrived World.

    2. Culling the older population helps the bottom line by reducing social security payments and Medicare expenditures. Infertility in the younger generation is a scientifically legitimate concern.

      1. Infertility in the younger generation is a scientifically legitimate concern.

        Not if depopulation is the goal.

      2. I’m not sure if oxide was saying that young people are affected or unaffected by COVID. My point was that they are affected indirectly via the jabs.

    1. Dr. Geert Bossche

      His impressive resume includes, inter alia, GSK, Novartis, Solvay, Bill & Melinda Gates Foundation, and GAVI.

    2. Upshot: the jabs are driving more infectious variants while suppressing our innate ability to handle those more infectious variants.

      1. Thanks for posting. It’s definitely worth watching even thought I don’t agree with some of Del Bigtree’s characterizations and hyperbole. Dr. Bossche appears to be experiencing cognitive dissonance by the end.

        1. I think the Dr just got a little emotional.
          But , based on what was discussed , I have a far greater understanding on how vaccines work, and the downside of what they do. The potential down side was the part of the interview that was pretty chilling.

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