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It Is A Mistake To Bank On The Alchemy Because There Are No Guarantees

A report from the Wall Street Journal. “In an interview, Dallas Fed President Robert Kaplan mentioned mortgage purchases, which he believes contributed to rising home prices, ‘these purchases have unintended consequences and side effects.’ In an interview with CNBC on June 18, James Bullard, President of the Federal Reserve Bank of St. Louis, said: ‘According to some, it threatens the housing bubble here.'”

From Realtor.com. “Although asking prices for U.S. homes continue to rise, there are signs that the red-hot housing market has passed its peak, according to a report Thursday from Realtor.com. ‘Buyers should still expect to act quickly on their desired homes, but we are seeing signs that the peak of the frenzy may soon be behind us,’ the report said.”

The Daily Colorado News. “Metro Denver’s housing market has been changing in recent weeks, much like a cold front ending record heat, and could provide significant relief for buyers if this continues, local real estate agents say. ‘The market has started moving in the past two to three weeks and has been very noticeable for most brokers within the past seven days,’ said Bret Weinstein, CEO of BSW Real Estate in Denver. ‘There is absolutely a market shift going on.'”

“Weinstein said the larger market seems unaware of the shift that has occurred, as the three offers a home could have on average are as strong as the 15-20 generated earlier this year. Frightened buyers, out of habit or desperation, continue to unnecessarily offer house prices against phantom competitors. ‘Right now, we’re seeing the best offer win around $ 20,000 to $ 30,000 assuming there are other offers at that higher price when in reality they don’t,’ Weinstein said. ‘… the shift is on. For those sellers who think the market will keep rising forever, this is not the case.'”

From Austonia on Texas. “The median home price in the city of Austin hit an all-time high of $566,500 in May, rising more than $142,450 year-over-year, according to the Austin Board of Realtors. And prices across the five-county Austin metro are rising at an even faster rate. But there is room for hope. Local realtors report a small shift in the market in recent weeks. ‘Don’t give up,’ said Alex Gilmore, an agent at Paul Presley Realty. ‘Austin’s only going to get more expensive.'”

“Chris More, 44, and his wife recently purchased a new construction house in Pflugerville after a months-long search that included multiple rejections. The couple moved from California to Round Rock in 2017. Last year, when the market was hot but not scorching, they started looking for a new home with more privacy and a pool. ‘We were like, ‘We can still catch that wave,’ he said.”

“Using a VA home loan, the couple soon made their first offer: $75,000 over asking price on a home in the $600,000 range. They were immediately rejected but not discouraged. The couple eventually made five more offers, one as much as $220,00 above the list price, but found sellers were only interested in cash. Discouraged by the resale market, they looked into new construction and found a builder who had three properties available on a first-come, first-served basis. Unbeknownst to them, they were first in line and able to purchase a home using the VA loan for under $800,000. Although higher than their initial budget of $550,000, More said, ‘I just got completely lucky.'”

“Ashley Jackson, a Realty Austin agent, recently worked with a buyer who offered $50,000 above the list price for a South Austin home in the 78704 ZIP code. She later learned the seller had received multiple offers $200,000 above the list price. But her client now has a home under contract after she called the listing agent to ask for the real price—not the one listed but the one the seller would accept. ‘You have to walk the line between the brutal reality of our market … and the excitement of buying a home,’ she said.”

The Toronto Sun in Canada. “For the majority of my decade in real estate, it has seemed that all one needs to do to sell a house in this town is stick a sign on the lawn and wait for a herd of crazed buyers to appear. The problem, however, is that the market, while still hot, has cooled since its peak in March. New listings are down, sales are down. The number of showings has slowed, and so too have the number of offers registered, an important metric to capture buyer behaviour.”

“And it makes sense — at some point something had to give. Significantly, prices have now taken affordability to its upper limits. Buyers can only stretch so far, and between the June 1st increase to the mortgage stress test and an interest rate hike all but guaranteed, people need to keep a level head.”

“And from where I sit, having been busier than ever throughout this pandemic, the biggest challenge I am facing right now is, for once, not having to coach and emotionally support my buyer clients through rollercoasters of bidding wars and unsuccessful offers. No, shockingly, the hardest part of my job right now is navigating seller expectations.”

“And almost always, the number in the prospective client’s head is based on the outlier. The house that sold down the street on day one with an offer 40% above-list. The dilapidated shack that didn’t even have photographs attached to the listing yet sold for $1M. What they feel it should be worth.”

“It’s hard to convince sellers that, feelings aside, there’s still method to this madness. That banks must still appraise properties before funding the mortgages. That even in this wild time, a property’s valuation will land somewhere within a range (the science, if you will) and anything above that is based on the value a particular buyer ascribes to it and the opportunity it represents (the alchemy).”

“It is a mistake to bank on the alchemy because there are no guarantees. Especially now that things have tempered somewhat. It’s easy to get a listing if you promise the sun, moon and stars. It’s entirely another to deliver it. And that is why we are now seeing so many listings fall flat.”

From Vice Magazine. “Three months ago, most cryptocurrency investors were chatting about Lambos, trips to the moon and the insane ‘gains’ they were making, thanks to prices soaring to all-time-highs. But – as anyone with a family member, partner or friend who’s invested in crypto will be all too aware of – that situation has changed over the last month, with prices falling with nerve-wracking, incessant-phone-checking speed this week.”

“For the crypto-bros and gals who threw their savings and ‘stimmy’ cheques into cryptocurrency this spring, it’s been a brutal few weeks. One guy, chatting to CNN, said he lost over $167,000 in one day. And then there’s the great reset: the past year’s rapid rise in price meant a turnaround would always be inevitable.”

“Fear levels ultimately depend on when and how much you invested. ‘It always depends where you’re measuring from,’ says Mati Greenspan, a crypto analyst. ‘If you’re measuring from the high, then yeah – this is pretty brutal. But anyone who’s been in the market for more than a few months should be in profit at this point. There’s never any reason to panic, as long as you’ve investing responsibly. There’s the disclaimer: never invest more than you can afford to lose.'”

From ABC News. “Bitcoin is not money — it is a speculative asset that can be used by organised crime to launder money and launch ransomware attacks, the world’s top organisation of central banks says. The Bank for International Settlements (BIS) has released a scathing assessment of cryptocurrencies, saying their growing popularity is posing a problem for the world’s financial system.”

“The BIS said other developments were contributing to the changing monetary landscape. It singled out ‘stablecoins’ and the entry of large technology firms (big techs) into payment services and financial services. It warned stablecoins — which are supposedly pegged to a national currency, such as the US dollar, to reduce volatility — come with their own problems.”

“‘Stablecoins attempt to import credibility by being backed by real currencies. As such, these are only as good as the governance behind the promise of the backing,’ the report said. ‘They also have the potential to fragment the liquidity of the monetary system and detract from the role of money as a coordination device.'”

The Globe and Mail. “Markets threw a mini-tantrum after the U.S. Federal Reserve suggested last week that it was thinking about thinking about raising interest rates – not immediately, mind you, but maybe in a year or two. Commentators rushed to describe the Fed’s shift as a hawkish turn, but it was more an acknowledgement of the obvious. The world’s most powerful central bank was effectively saying that rates cannot stay at rock bottom levels forever, especially if inflation proves to be more persistent than originally thought.”

“One way to think of this is as a three-act play. The first act was the great panic that erupted when the pandemic hit just over a year ago. That was followed by the great euphoria of the second act, as policy makers rushed to keep their economies afloat on oceans of new spending and assurances of near-zero interest rates as far as the eye could see.”

“Central bankers suddenly got woke. Tiff Macklem, governor of the Bank of Canada, and Jerome Powell, chair of the Fed, started talking about social goals like reducing inequality and building inclusive economies. For folks who normally discuss yield curves and similarly dry topics, the shift in attitude seemed revolutionary. It suggested the authorities were prepared to live with persistently higher inflation so long as it helped advance broader social goals.”

“Now comes the third act: a great sobering up. Central banks must attempt to, ever so gently, take away some of the extraordinary stimulus they delivered in the second stage and remind people that, while the social stuff matters, they haven’t forgotten their more traditional roles as inflation fighters. Nineteen central banks around the world have raised interest rates so far this year, according to Bank of America. In Canada and the U.S., decision makers have yet to move, but are striving to prepare markets for what is to come.”

“The great unknown in all of this is how today’s suddenly woke central bankers will react if the current outburst of inflation persists. After the Great Financial Crisis, critics lambasted central banks for prematurely hiking rates before benefits of the postcrisis recovery could ripple through to lower paid workers. Policy makers appear determined to give today’s recovery more room to run. So long as they maintain that attitude, they are likely to move cautiously in reining in today’s exuberance.”

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This Post Has 134 Comments

  1. ‘We were like, ‘We can still catch that wave’

    ‘Unbeknownst to them, they were first in line and able to purchase a home using the VA loan for under $800,000. Although higher than their initial budget of $550,000′

    First in line – a winnah! ‘I just got completely lucky’

    VA loans are all subprime. You didn’t know VA loans could go up to 800k pesos? They remove the limit years ago. No maximum.

    ‘She later learned the seller had received multiple offers $200,000 above the list price. But her client now has a home under contract after she called the listing agent to ask for the real price’

    Open discussion of scumbag REIC practices.

    1. ‘continue to unnecessarily offer house prices against phantom competitors. ‘Right now, we’re seeing the best offer win around $ 20,000 to $ 30,000 assuming there are other offers at that higher price when in reality they don’t’

      We won honey, we just got lucky!

      1. You’re gonna get a lot more after the recent housing market moon shot follows cryptocurrencies and lumber futures into the sea.

    3. ‘We were like, ‘We can still catch that wave’

      We’re ready now
      Catchin’ a wave to ride on
      Steady now
      Headin’ where we decide on
      And I know that there’s something that’s just out of sight
      And I feel like we’re trying to do something right
      Come on make it if we hold on tight
      Hold on tight
      We’re Ready! C’mon we’re ready
      We’re ready

      Boston
      Third Stage
      We’re Ready

    4. As a noted economist stated so eloquently, “Realtors are liars and every closing is a crime scene.”

      He’s right.

  2. ‘Now comes the third act: a great sobering up…Nineteen central banks around the world have raised interest rates so far this year, according to Bank of America. In Canada and the U.S., decision makers have yet to move, but are striving to prepare markets for what is to come’

    I’ve said since this insane CCP virus started, these central bankers are gonna break it off in the gamblers a$$. Oh it’s inevitable says UHS. (They didn’t mention that a couple months ago). What goes up, red dawn in morning, ‘the hardest part of my job right now is navigating seller expectations’.

        1. The Wall Street Journal
          Markets
          Bitcoin Slumps Toward Another ‘Crypto Winter’
          Digital currency’s latest selloff points to possible period of flat trading
          By Paul Vigna
          June 26, 2021 5:30 am ET

          New bitcoin investors felt the thrill of the digital currency’s most recent epic rally. Now, they are experiencing the other side of that ride.

          Bitcoin rose from $5,000 in March 2020 to nearly $64,000 by April 2021. It then plummeted to as low as $29,002; Friday it settled at $32,212.

          As severe as the recent selloff is, though, it isn’t close to being the worst in the digital currency’s 12-year history.
          …

          2. Bitcoin rose from $5,000 in March 2020 to nearly $64,000 by April 2021.

            Pure, unfettered speculation in NOTHINGNESS.

        2. Regulation
          by Kevin Helms
          1 day ago
          Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges

          Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law.

          Japanese Regulator’s Warning

          – Japan’s top financial regulator, the Financial Services Agency (FSA), issued a warning notice to Binance Holdings Ltd. and CEO Changpeng Zhao on Friday.
          – The notice states that Binance has been providing crypto exchange services to Japanese customers without registration.
          – Under Japanese cryptocurrency regulation, companies wanting to provide crypto exchange services in Japan must register with the FSA.
          – This was not the first time Binance received such notice from the FSA. The regulator issued the same warning to Binance in March 2018.
          – In May, the FSA issued a similar warning to Bybit Fintech Ltd. and its CEO, Ben Zhou.

          British Regulator’s Warning

          – Britain’s financial regulator, the Financial Conduct Authority (FCA), issued a consumer warning on Binance Saturday.
          – The FCA states: “Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA … This firm is part of a wider group (Binance Group) … The Binance Group appears to be offering UK customers a range of products and services via a website, Binance.com.”
          – The FCA emphasized: “No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.”
          …

  3. ‘They also have the potential to fragment the liquidity of the monetary system and detract from the role of money as a coordination device’

      1. “…The intrinsic value of all cryptos “mined” to date…”

        Megawatts of perfectly good electrons wasted and sent to their new home in outer space.

    2. “not doing the maths”

      Is there a “maths” in speculation? I hate it when people try to be too cute.

  5. ‘never invest more than you can afford to lose’

    This still strikes me as a strange thing to say. In my right pocket, money I can’t afford to lose. In my left, annnd it’s gone.

    1. ‘A One America News Network personality denies he suggested that “traitors” who “stole” the 2020 election should be executed while he pushed the conspiracy theory that widespread fraud kept former President Donald Trump from a second term in the White House.’

      ‘Clips on social media that emerged Wednesday evening showed Pearson Sharp in a segment in which he said, “In the past, America had a very good solution for dealing with such traitors” who were “involved in these efforts to undermine the election.” And that’s “execution.”

      ‘But the television personality told the Washington Examiner on Thursday that such characterizations of his comments were inaccurate. “Neither I or OAN are suggesting anyone should be executed,” he said. “I’m simply reporting that conspiring against the government to overthrow an election, with the help of a foreign government, would be treason. If that is investigated, and if that is proven, then US laws maintain that execution is a legal punishment for those crimes,” he added in a written message.’

      ‘Sharp also said legal penalties are up to “the appropriate law enforcement agencies to determine,” and he said the network “is simply pointing out that if election fraud is proven, then it could very well constitute treason. And according to our laws, treason is punishable by death. If it is found that government officials coordinated with foreign countries to overthrow the election, then that would be the very definition of treason. Which, according to our nation’s laws, could result in execution.”

      ‘In the Tuesday segment, he said there have been “numerous indications that foreign governments including China and Pakistan meddled in our election to install Joe Biden as president” and that “any Americans involved in these efforts … is guilty of treason.”

      ‘Sharp claimed, “simple facts point to massive and widespread problems.” “The radical Democrats left fingerprints all over the country, providing a trail of evidence that the 2020 election was not only tampered with but was actually overthrown,” he said.’

      “Which raises even more questions about exactly how many people were involved in these efforts to undermine the election. Hundreds. Thousands,” Sharp said. “Tens of thousands. How many people does it take to carry out a coup against the presidency? And when all the dust settles from the audit in Arizona, and the potential audits in Georgia, Michigan, Pennsylvania, Nevada, and Wisconsin. What happens to all these people who are responsible for overthrowing the election?”

      https://news.yahoo.com/oan-personality-denies-suggesting-executions-225500829.html

      1. AZ Audit Reveals 667 Different Versions of Ballots! Military Election Sting! Light Kills The Virus!

        https://www.bitchute.com/video/AXWI3UBJMWqJ/

        Some zing right there. After the Bob Hughes talk it goes into a bunch of religious stuff, but Hughes designed the ballot part of the audit so it’s significant. (Taken from the new Deep Rig film, BTW.)

        Especially interesting was the part on how individual ballots are so different due to down ballot races. Dog catcher races, etc. So we know how many should be out there for every precinct. If some one was just making mass copies, they wouldn’t have any idea of things like that.

      2. The 2020 election was stolen.

        This isn’t Facebook, this isn’t YouTube, this isn’t Reddit. We can talk about treason and executions, and there’s nothing you globalist Deep State sh*tbags can do about it.

        January 6th was only the beginning, the only good globalist is a dead globalist 🙂

    2. Chaotic scenes in NSW supermarkets as panic buying takes hold’

      The (allegedly) had 43 new Covid cases yesterday in all of Oz, the entire country, and for that they are locked down.

      1. Their official number of deaths has been zero since October. How long does it take to realize you’re not dealing with something fatal?

        1. It’s a perma-lockdown.

          I just had a zoom meeting, with some colleagues from around the world. Most of them are still locked down tighter than a drum, for trivial case numbers. When I told them that we are completely open here where I live, with no masks or social distancing at stores, restaurants, at church, etc., they were floored. They couldn’t believe it.

          2. Canada will prevent groups from gathering in order to stop the spread of ‘unauthorized information’.

            You don’t need a Bill of Rights as long as your ruling class is benign. Funny how Canaduh’s earlier, benign rullers are now being demonized as monsters, while the Trudeau regime has most of Canada under house arrest.

            My Irish colleagues are hoping that the Pubs will be allowed to reopen soon (They are open if you drink outdoors). I wouldn’t be surprised if they’re still closed for the rest of the year, because “safety”.

          3. “to stop the spread of ‘unauthorized information’.

            LOL@ globalist Deep State when they begin to understand what the Japanese Imperial Army allegedly said 80 years ago about the expected resistance of a ground invasion of the United States:

            “A rifle behind every blade of grass”

            If you live in DC or NYC you probably hate American national sovereignty anyway, by default based on living there if you are a self-hating white millennial.

            We don’t need you. You’re a parasite class. The only good globalist is a dead globalist 🙂

  7. Frightened buyers, out of habit or desperation, continue to unnecessarily offer house prices against phantom competitors.

    The stupid, it burns.

  8. “The median home price in the city of Austin hit an all-time high of $566,500 in May, rising more than $142,450 year-over-year, according to the Austin Board of Realtors.”

    The Fed sees no bubbles.

    1. A couple of things. These types of increases (or more) are being reported all over the world. No irony, no shock. Even though it’s bat sh$t crazy on the face of it.

      Why? They know and don’t care. Ripping up centuries of RE common law? Never going back to normal. Great reset, eat yer bugs and shaddap! Irrational fear pounded into the public relentlessly. Violating pretty much everyone on the planets rights still ongoing. Communism suddenly being pushed like it’s normal. Oh but get yer injection or yer a bad bad person! This doesn’t just stink folks.

      1. ‘People of color like King were hit especially hard with income losses during the pandemic, the Harvard researchers said. As a result, 17% of Black, 16% of Hispanic and 16% of Asian-American homeowners were behind on their mortgage in early 2021 — more than twice as much as the 7% share of White homeowners.’

        https://www.newson6.com/story/60ca6e863d56b273bb7df851/8-million-households-face-eviction-or-foreclosure-within-weeks

        ‘17% of Black, 16% of Hispanic and 16% of Asian-American homeowners were behind on their mortgage in early 2021’

        That’s some red hotcakes right there.

        1. I know it’s harsh, most of them should not have been loanowners to begin with.
          Gobmit support made them loanoweners….further gobmint support will let them continue in the hamster-wheel.

          Amerikkan exceptionalism #124

        2. “8 Million Households Face Eviction Or Foreclosure Within Weeks”

          I look forward to Biden whispering on the subject in the near future.

      2. “Communism suddenly being pushed like it’s normal.”

        Political leaders love themselves a good crisis. None of the usual rules apply, and they can enact whatever policies they choose with little opposition.

        1. Yeah, well I say any person who would exploit something like the CCP virus is a rotten dog who ought to be taken out and shot. Oh sure, let’s create a virus, release it, let it fly around the world. Have our globalist media spin fear 24/7 for over a year. Censor or shut down any signs of hope or notes of over exaggeration or actual medicines that could save thousands of lives. That’s nothing!

          We ain’t talking about shaving off some pork for a pet project. This is communism, which has killed many millions and never fails to kill.

          1. This is a pretty serious criminal takeover of this Republic that now controls the White House, Congress and Senate, the censored news, and Medical Fraud used as a weapon of mass destruction. Climate Change to be used also.

            Just listen to the way Biden speaks about over half the Country and the white race. Like they were a enemy force that needs to be eliminated. This very aggressive agenda by these invaders of this Republic has already killed thousand and thousands of people by this Medical Fraud being used as a weapon. This is treason.
            Globalist Monopolies in on it, Government and Government agencies in on it, and fake censored news to advance their outrageous and bizarre fraudulent narratives.

            The push back by the Trump election to their decades of planning this takeover apparently, just brought them out in the open to speed up this takeover of divide and conquer.

            I don’t think they will be able to pull off more lockdowns , but its obvious that they are building the Delta Strain fear mongering narrative for some purpose. Very highlighted in the news in California, I don’t know about other States.

            I think at some point the insanity and fraud they peddle will not work and than what will they do at that point is the question?

  9. Unbeknownst to them, they were first in line and able to purchase a home using the VA loan for under $800,000. Although higher than their initial budget of $550,000, More said, ‘I just got completely lucky.’”

    You keep telling yourself that, Chris, as the bottom drops out of Housing Bubble 2.0.

    1. Lucky to buy new garbage construction with Chinese drywall for 800k. Enjoy cancer

  10. The problem, however, is that the market, while still hot, has cooled since its peak in March. New listings are down, sales are down.

    No, REIC shills, the real problem is that when the central bankers’ Everything Bubble bursts, trillions in fake valuations created by fake money is going to be vaporized, but the lemming speculators who bought into the mania will still be on the hook for the massive loans they took out – putting the entire financial system at risk.

  11. REIC corruption can have fatal consequences. I doubt if any of the guilty parties involved will ever face consequences given the endemic corruption in our globalist-subverted judicial system.

    REVEALED: Developers of doomed Miami condo tower were accused of PAYING OFF officials to get permits as Miami urges inspections of all buildings taller than six stories and over 40 years old within 45 days

    https://www.dailymail.co.uk/news/article-9731621/Developers-collapsed-Miami-condo-tower-previously-accused-PAYING-officials-permits.html

    Developers of the 12-story Miami condo tower that collapsed were previously accused by building rivals of paying off officials to get permits, with the Florida city now urging structural inspections of taller condo towers within the next 45 days.

    The Surfside Champlain Towers South developers were accused of contributing to at least two town board members’ campaigns to get preferential treatment with the permit system during construction in 1981, according to The Washington Post.

      1. “…payments of anywhere from $80,000 for a one-bedroom unit to $330,000 or so for a penthouse…”

        The HBB and its readers have warned repeatedly for years about real estate holding costs.

        Assessments of this type are bound to become more common as HOA boards become increasingly nervous about deferred maintenance liability and holders of overpriced airboxes discover they have been handed the big willy.

        Going to be really interesting how the REIConplex spins this one.

        1. HOA boards become increasingly nervous about deferred maintenance

          If rebar and concrete need to be replaced, that sounds like more than routine maintenance. It sounds like junk construction.

          What I don’t get is that there are plenty of high rises in Acapulco that are 60+ years old, and they have endured not only humidity and brine, but they have survived numerous earthquakes. Why can the Mexicans build stuff that lasts. but Miamians can’t?

          1. Acapulco

            A building built on mud rises and falls with variations in ground moisture. I personally found out this is problematic for even a single story house (Louisiana).

          2. “…Why can the Mexicans build stuff that lasts. but Miamians can’t?…”

            It’s going to be incredibly interesting to see what final engineering report / failure analysis determines as root cause(s).

            Substandard building materials (concrete / rebar / structural steel elements, etc) + ‘brown envelope’ payoffs?

            40 years is a long time. Even if the bad actors can be identified, odds are most aren’t around anymore.

            As noted by other HBB posters, Miami appears to be a city that runs on graft. If graft is a major contributing root cause to structural failure, wouldn’t surprise me one iota.

            The only bonanza on the horizon is for attorneys who specialize in liability and contract issues.

          3. April 19, 2018

            “‘Palm Beach is completely on fire,’ said Todd Michael Glaser, a high-end homebuilder who made his name in Miami but has lately been concentrating on Palm Beach County. ‘I’ve never seen the amount of $8M to $70M homes as in the last three and a half, four months. It’s staggering.’ It’s not just single-family homes that are hot, but a new wave of high-end condos and mutifamily apartments, especially in downtown West Palm Beach.”

            “Kolter Urban President Bob Vail, who is developing the Alexander, said that there is something of an arms race for amenities in the new supply of high-end homes. ‘You see that across the U.S. There are [apartment] buildings in Atlanta, Denver and Dallas that are nicer and more fully amenitized than condominium units, because that’s what it’s going to take to get people to choose that building,’ Vail said. ‘It’s just sort of a differential advantage. It’s really become a race in those more in-demand markets.’”

            “Though the market is healthy now, the developers agreed a slowdown is possible as new supply takes time to be absorbed, construction costs rise and actionable sites get harder to find. Low salaries in Palm Beach County mean that not many workers can afford high rents. When an audience member asked whether they were concerned with an economic downturn, Vail responded half-jokingly, ‘Condo developers, we don’t forecast those kind of things, you know what I mean? We’re just go, go go,’ he said. ‘And the faster we go, the faster we get to the closing, and then, I’m not going to say we don’t care, but … ‘ The audience chuckled as he trailed off.”

            http://thehousingbubbleblog.com/?p=10407

    2. Developers of doomed Miami condo tower were accused of PAYING OFF officials

      The brown envelope strikes again!

      1. if you payoff the politicians – what happens to the civil engineers that were enforcing the safety standards? Surely they dont forget and go away –

    3. “The Surfside Champlain Towers South developers were accused of contributing to at least two town board members’ campaigns to get preferential treatment with the permit system during construction in 1981, according to The Washington Post.”

      Florida is a sunny place for shady characters!

    4. Debbie Wasserman-Shultz, the former DNC chair who rigged the 2016 primary for HRC, is Surfside, FL’s congressional representation. That’s all you need to know to understand how corrupt that area is.

  14. “…much like a cold front ending record heat, and could provide significant relief for buyers if this continues, local real estate agents say.”

    Anyone who has lived for any length of time in the Midwest knows that cold fronts following a period of record heat often bring in tornadoes.

  15. 542 Percent Increase in Convicted Sex Offenders Arrested at Border

    ‘A Del Rio resident said that prior to January he had seen two illegal aliens pass through his backyard. Now, he said, it’s hundreds a day.’

    “I have four daughters—does it concern me when you say there’s a 1,400 percent increase in sex offenders? Yes, it concerns me,” the resident said during a border update on June 24.’

    “I’m concerned about the single men who are running through my backyard, sneaking. And I’m about a 50 percent success rate on whether or not I get an agent to come out to my place when I call. And when they do, it’s awesome, they bring helicopters, they bring support. Otherwise, I’m sitting there unarmed and there’s a guy soaking wet in my backyard screaming at me in Spanish. I don’t know what to do with this guy.”

    https://www.theepochtimes.com/mkt_morningbrief/542-percent-increase-in-convicted-sex-offenders-arrested-at-border_3876489.html

  16. 8 hours ago

    An elderly hot dog seller who was situated at the city’s embattled Washington Square Park received a bust lip, bloody nose and was seen bleeding from his head after being punched in the face several times by a woman.

    The man could be seen standing next to the his food cart when he was suddenly caught off-guard and punched in the head almost knocking him off his feet.

    As he attempted to flee, he was pursued by a group of people before finally falling over onto the street where police ran to his aide. A woman yelled at him accusing him of using a slur.

    https://youtu.be/Pkic8qWqLJ4

    1. * just watched a few seconds of the screamfest hot dog seller video. . . geez !!
      here in N. Cal / Greater Sacramento area the hispanic rainbow umbrella cart vendors have multiplied exponentially over the past 5 years.
      they avoid the worst of the vibrant areas & pack-up at dusk.

      1. they avoid the worst of the vibrant areas & pack-up at dusk

        One would think that the hot dog cart guy knew better. He was probably doing brisk business, until his luck ran out.

    2. accusing him of using a slur Anyone can accuse anyone else of anything they want. Excellent way to launch a physical assault for no reason at all, and a basic principle of bar wars.

  18. Thoughts on what will become of asset prices when the central bankers withdraw their COVID-19 stimulus measures?

    1. The Financial Times
      Eurozone inflation
      Bundesbank boss calls on ECB to scale back bond purchases
      Jens Weidmann says ‘inflation is not dead’ and warns of risk that energy prices will rise
      Jens Weidmann, Bundesbank president
      Bundesbank president Jens Weidmann said German inflation could hit 4 per cent later this year
      Martin Arnold in Frankfurt
      2 hours ago

      The head of Germany’s central bank has called for the European Central Bank’s pandemic-related bond purchases to be “reduced step-by-step” and warned that inflationary pressures are mounting in the eurozone.

      Jens Weidmann said there were “upside risks” to the outlook for inflation and energy prices could be pushed higher than economists expect by governments’ policies to fight climate change.

      The ECB’s stimulus programme to ease the economic impact of the pandemic should end “as soon as the emergency situation has been overcome”, Weidmann said in a speech on Monday.
      …

    2. Can they do that? Or are they riding the tiger (i.e. once you get on, you can’t get off without getting eaten)?

  19. Roh roh, Shaggy!

    From the Dumver Post:

    Metro Denver’s housing market has undergone a shift in recent weeks, not unlike a cold front that ends a spell of record heat, and it could provide significant relief to buyers if it continues, according to local real estate agents.

    “The market has begun to move over the last two to three weeks and has been very noticeable to most agents within the last seven days,” said Bret Weinstein, founder and CEO of BSW Real Estate in Denver. “There is absolutely a market shift occurring.”

    So how many weeks away is “No one could have seen it coming.”?

    1. Prolly around the time when current sales transactions start showing up in official real estate price statistics…

    2. When even NAR and Redfin and other prominent real estate proponents talk of buying frenzies, one can safely conclude that the current market is a historically frenzied one. However, after a period of intense economic activity, it’s natural to expect a lull.

      The question is, is the Fed out of ammunition? We’ve talked about this in the past, this time it’s phrased as “Have we reached the limits of stimulus?” Balance sheet at 8 trillion and counting… why not 16 trillion? Buy more MBS – sure, why not? Mortgage rates around 3 percent – why not two, or one percent (they have them in some places in Europe) I don’t know the answers to these questions. But it does seem to me that the Fed’s money bazooka can make any otherwise unprofitable transaction profitable. But at what point do the side effects outweigh the intended effects?

      1. But at what point do the side effects outweigh the intended effects?

        Judging from what next year’s budget deficit will be, the answer is “not yet”.

        That said, I was in Sam’s Club the other day. The price of steaks of various cuts was up about 30-40% vs. not too many months ago. They were also out of chicken breasts, though they did have the loss leader rotisserie chickens available.

        2. We just ate our first “Beyond Meat” hamburgers yesterday, and they were pretty darned tasty.

          2. “Beyond Meat ”

            No way. They put to much soy in that fake meat. Soy isn’t that good for you. No way can they duplicate the nutrition in real meat.

            You will eat bugs, have nothing and be happy.

          3. We just drove through Western Kansas on Hwy 50 in last week’s extreme heat … To see the vast feedlots with the Fat Cattle all out in the hot hot sun like that ,makes me want to switch to some other kind of meat…That is not humane ,treating animals like that

          4. Must be the estrogen

            Beyond Meat
            Our food is simple. Made from plants. With no GMOs.
            No hormones. No antibiotics. No cholesterol.
            We believe it’s the future of food.

            Our Proteins
            Pea • Mung Bean • Faba Bean • Brown Rice
            By using a variety of plant proteins, our products deliver greater or equal levels of protein than their animal-based counterparts.

            Our Fats
            Cocoa Butter • Coconut Oil • Expeller-Pressed Canola Oil (uses pressure, not chemicals)
            Our fats create juicy plant-based burgers, beef, and sausages that sizzle in the pan or on the grill.

            Our Minerals
            Calcium • Iron • Salt • Potassium Chloride
            From taste to function, these minerals deliver the nutrients we expect from meat. Potassium Chloride is a naturally occurring mineral, added to provide a mineral balance close to that of animal meat.

            Our Flavors & Colors
            Beet Juice Extract • Apple Extract • Natural Flavors
            The flavors and colors in our food come from plants.

            Our Carbohydrates
            Potato Starch • Methylcellulose (plant fiber derivative)
            Our blend of carbohydrates helps hold our ingredients together, similar in function to cornstarch or flour, providing the right amount of texture so you can enjoy every bite.

            AND ALSO THESE!
            Sunflower Lecithin • A natural emulsifier to help prevent separation among ingredients and improve texture, similar to the function of an egg.
            Calcium Alginate • Plant-based casing made with seaweed.
            Yeast Extract • Adds B Vitamins and is a food flavoring made from the same yeast to make bread and beer.

    3. “it could provide significant relief to buyers”

      Significant, you say? We talkin’ a very usable 40-60% relief or the more common 5-10% relief seen as a bloodbath by the MSM?

  20. When they ushered in Commie Obama Care my hairs stood up on the back of my neck. Nothing but a loot job of the middle and upper middle class in US. Now looking back in retrospect, I think they always planned to bring on Medical Tyranny.

    The evidence shows they were planning a Panademic, based on their rhetoric going back to 2017. How can you plan a Panademic , sometimes 40 to 100 years stretch between Pandemics.
    They knew Trump would be hit with a Panademic ahead of time. They knew Biden would win and they said ahead of time that Biden’s votes would come in late after it would look like Trump was winning.
    I hate to tell you but you can’t trust the Medical system as long as they are extorting, threatening and bribing the Medical system.
    Its so obvious now that this is their main method of corruption in every area they apply it, and its based on fraud. Otherwise they wouldn’t need the censorship they employ.
    Many hospitals now are saying if you don’t take the vaccine they won’t treat you, for whatever you went in to be treated for, even if its for a life threatening condition that has nothing to do with Covid.
    So all the business that thinks they can deny service to anyone who doesn’t want to take a experimental vaccine, is the new extortion to take the vaccine. Concerted effort to punish anyone who doesn’t comply. Will they eventually say you can’t buy food if you don’t comply?
    This Panademic affects .50% of mostly a elderly population with co morbidities.
    I’m not going to do what these fraudulent Entities want because they have already needlessly killed thousand of people by withholding meds that were lifesaving for the needle in every arm campaign.
    I might have to abruptly leave the State I live in if theY mandate you can’t get food if your not vaccinated. That would be a threat to my life by starvation if I don’t comply. I can avoid plane travel and going to concerts, but food and water is pretty mandatory for survival, as well as life saving medical procedures no doubt.
    While you hear a bunch of lawyers say that they are in violation of the Nuremberg Laws and other laws, they are proceeding as if no law will stop them .
    They operate on violate the law and by the time its stopped they have accomplished their goals.
    Covid was used to make it easier to rig the election, as well as lock down populations that would not like a stolen election by the unjustified lockdowns.

    Countless Studies have come out that lockdowns and masks did almost nothing in terms of virus control. Doesn’t matter, only their fraudulent narratives matter.

    People Unite against Entities that think nothing of harming you and taking all you freedoms and even your life and income and independence.

      1. Those are small outbreaks your talking about. I talking on the level of a Black Plague or the Spanish flu.

          1. Well, lots of disagreement on how big it was and if it was adding all the respiratory ailments and just labeling it one big Covid.

          2. and if it was adding all the respiratory ailments and just labeling it one big Covid.

            Even then it wasn’t all that. I wonder how much money was wasted turning the Dumver Convention Center into a giant Covid hospital, which was never used. I believe it has been quietly removed as conventions are already being scheduled for the remainder of the year.

      2. “…40 to 100 years stretch between Pandemics”

        There hasn’t been a real Pandemic since the 1918 Spanish Flu. When all the dust settles around Covid-19, researchers will probably find that the magnitude of the Covid-19 “Pandemic” was probably like a souped up Influenza pandemic. Perhaps 2 to 3 times as severe as a bad flu season.

        The reason why governments like the UK, Australia and Canada are behaving with such draconian measures has nothing to do with the virulence of Covid-19, but because this little outbreak has revealed just HOW HORRIBLE THEIR SOCIALIZED HEALTHCARE SYSTEM REALLY ARE!!

        All we’ve hear for 50 years was how great the “Universal Access” of care was in all of these countries that had health insurance for everybody! They weren’t like America where people were dropping dead left and right because they were too poor to afford health insurance.

        Well it was always a commie lie that people were dying because they didn’t have health insurance in this country. And it also was a lie that healthcare was superior in countries like Canada and the UK. So, Covid-19 comes along and floods their hospitals with sick people. Their system is overrun because their healthcare system was built ON THE CHEAP! They never built enough hospital beds or trained enough people to provide services in the event of a serious outbreak!

        In the USA, there were some hospitals that filled their ICUs (I personally know from physicians who work at major hospitals in this state that at the height of the outbreak, they had people on ventilators in the ICU hallways), but overall our system had the capacity to treat everybody and nobody died because they couldn’t get an ICU bed. Why is this? Because if you look at the number of acute care hospital beds per capita, this country has 2 to 3 times (maybe more) beds than these countries with socialized systems.

        I know a professor at Cambridge University in England and he said his physicians friends were working around the clock and were overwhelmed with too many patients. They also were running out of ventilators across the country. I said, “Why don’t you just send 4 FedEx DC-10s here and load them up with 1000 ventilators–just buy them and have them delivered overnight?”

        He said that would only solve HALF the problem. The other problem is that they didn’t have enough trained nurses and technicians to run the machines! So the UK not only doesn’t have enough beds, they don’t have enough equipment, supplies AND personnel!

        So the governments in these places is locking everybody up because if their people ever found out that they’ve been had by a bunch of corrupt politicians, bureaucrats and health executives, they’ll riot in the streets and put their heads on poles.

        What was America’s response? The government (Public Health Service and the Navy and Army) set up 78 field hospitals all around the country all fully staffed and ready to go. The Navy got their two 1000 bed hospitals operational in weeks. And virtually none of the beds in these facilities were needed or used. That’s because our platinum plated healthcare system was able to handle the emergency. And I can tell you, that it wasn’t easy at the impacted hospitals–but they train and plan for situations like this.

        So just be thankful for all of the dedicated physicians, nurses, technicians, therapists and support personnel that work in our healthcare industry. Just be glad you ain’t in the U.K. or Canada.

    2. “Many hospitals now are saying if you don’t take the vaccine they won’t treat you, for whatever you went in to be treated for, even if its for a life threatening condition that has nothing to do with Covid.”

      That’s complete nonsense. Where did you hear that? On the tin foil grassy knoll radio broadcast? In this country, all hospitals have to treat anyone who shows up at their front door who is in an obvious state of distress from illness or trauma. You can have Ebola Virus and they have to see you in the Emergency Department.

      Your personal medical data is private and NO ONE has the right to view it except in a very limited number of circumstances which mainly are concerned about school vaccines like measles. Back in the day I worked for a large health department doing AIDS surveillance. A person’s HIV status was private data–no one had the right to access a person’s status, not even the Red Cross (at blood donation sites). Universal precautions was the rules of the day–in other words, you assumed that EVERYONE’S blood was contaminated with HIV. The only people who knew the identity of who had AIDS in the county was the County Health Department. We reported the cases to the CDC (with personal identifiers stripped, anonymously) but the identities of the cases remained confidential. In reality nobody was interested in the 10,000 names we had of people who had AIDS since for virtually all individuals, lots of people knew that the patients had the disease.

      So my HMO where I got my Covid-19 shot can’t deny me services or force me to be vaccinated. Also, lots of people can’t be vaccinated for medical reasons and lots of people who ARE vaccinated will not end up protected–the vaccine doesn’t work all the time. In fact, it probably doesn’t work in lots of people that’s why there are cases everywhere in people who were fully vaccinated.

      All they can now say is that “Vaccinations are mandatory….”, but it’s on the honor system. If the big financial firm in NY which recently made it mandatory to be vaccinated in order to come to work somehow got your medical records which showed that you had not been vaccinated and then fired you, you could sue them for all they are worth and the people that accessed your records could go to jail.

      This is all Bull$hit about these rumors of forced vaccination. Here’s an idea, go to your doctor and tell him that you’ve had several anaphylaxis episodes 20 years ago and that you were allergic to several of the ingredients in the vaccines. Then he will write down that you are ineligible for the vaccine. Problem solved.

      Everybody in healthcare today is paranoid about HIPPA rules and being sued for unauthorized disclosures of private medical data. Look what happened to that medical clerk that leaked Michael Jackson’s chart. She got fired and went to jail. I have a friend that was doing a rotation at a Kaiser Permanente hospital during her residency. She looked up her own medical chart to look at something (she had had a minor procedure once upon a time). Within HOURS, she got a call from Kaiser informing her that she had made an unauthorized entry into medical records and that she better not do it again. It didn’t matter that it was HER OWN chart since all medical personnel are only authorized under law to access medical data for patients that they are currently treating.

      If she wanted to look at her own chart, she would have to make a request at medical records like everybody else does and get it there.

      All of this panicking about Covid-19 will go away when the disease disappears by the end of summer. Vaccinations won’t be needed because the disease is gone. When’s the last time you got vaccinated for the 1918 Spanish Flu? Never because it is no longer present in the environment.

      You would literally have to tear up the Constitution to make mandatory vaccinations to Covid-19 the law of the land. Vaccinations against childhood illnesses and polio are a completely different matter. In the case of these diseases, after decades of research and observation it has well been established that the costs (dying or getting seriously ill from the vaccine) of having everyone vaccinated are far lower than the benefits of having the population protected. These kinds of decisions are made all the time in medicine, most people just are ignorant of the situations where these issues arise.

      Everything that modern medicine does has risks. there’s no such thing as 100% beneficial and 0% risk. Nobody gets out of this life alive. In the case of the Covid-19 vaccine, it’s obvious to everybody that it has a horrible safety record and that it probably doesn’t work very well. It will never get approval from the FDA. A year ago the situation was looking grim, but today it is clear that the worst of the epidemic is behind us and this did not occur because of the vaccine or the mythical “herd immunity”.

      If you don’t want the vaccine, don’t get vaccinated. Just tell everybody that you got it at the local Rite Aid.

    3. What everybody should be worrying about is whether or not Covid-19 will disappear like all other respiratory viruses inevitably do. Even pandemics like the Black Death, the great typhus and cholera epidemics of Europe ended on their own when they ran out of susceptible people. All pandemics and epidemics are self-limiting.

      However, because Covid-19 was created in a lab and is not the product of nature, it’s not possible to predict how this thing is going to behave since this has never happened before. Theoretically it could mutate into an even more virulent and deadly form and it might not behave like other respiratory viruses.

      The scientists and medical community wasted over a year not researching the Wuhan/China Virus all because they wanted to make Trump look bad. Same with therapy development. Because of politics, millions of more deaths could occur in the future. This could turn into a bad 1960s scientific nightmare film about a monster disease created in a lab that got out of control.

      Nobody can predict precisely the future of Covid-19 since there is no data on its natural history. And people like Fauci, WHO, Democrats and the medical establishment are completely to blame for the late start that’s occurred into investigating the origins and risks of the Wuhan/China flu.

      Everybody should be concerned about this possibility.

      1. “Everybody should be concerned….”

        Are you talking about the Delta strain continuing the Panademic and it being more deadly?

        So your point is because this was a lab made virus that nobody knows what the course will be?Also ,Im hearing about a lot of variant strains, and is this normal for this many? I might be asking to many questions for your opinion if your around.

        And given the timing of the release of this virus, do you think it was accidental or deliberate.

        1. Think about it logically, if the Chinese wanted to release Covid deliberately as part of a germ warfare attack, would it make sense to first expose your own population to start the outbreak? Or would you go down to Wuhan International Airport and expose all international travelers who were leaving China for foreign countries? If they did it deliberately it would have been much easier to just stand next to the boarding gate with an atomizer spraying a mist into the air (e.g. like an air freshener)–that’s a lot more efficient than releasing it in Wuhan and waiting for it to spread around the world. I think it was definitely a leak from the lab. Preventing a leak is really difficult–it’s why we don’t do gain of function research in this country.

          As for variants and the “is this normal” type of question, since nobody has ever created a virus like this in the lab before, it is impossible to say what is “normal” behavior! Now I’m no expert at of any of this stuff, but when experts say things like Covid-19 has sequences that are never found in nature, this makes me really nervous. If the Chinese manufactured a virus that doesn’t follow the normal rules found in nature, is this Covid-19 thing some kind of Frankenstein bug?

          The Chinese short circuited nature and natural processes and the result was Covid. Who’s to say how it will be expected to behave now that it’s out and infecting the world. It looks like it is behaving like an ordinary influenza virus, and it should then disappear on its own just like every other flu virus does. But it may linger in the environment and not disappear.

          After all, Covid-19 didn’t come from some animal reservoir or use a vector like is the case with other infectious diseases. This thing potentially can turn into something far worse than these variants. Scientists around the world are so unwise that they let “Orange Man Bad” blind them to reality. It would be a mistake to now have confidence that these same scientists can act rationally about a far more complex issue.

          2. a leak from the lab

            IIRC, they were handling the viruses in a BSL-2 rather than a BSL-3 laboratory.

        2. Look at these two curves:
          https://ourworldindata.org/grapher/weekly-covid-deaths?tab=chart&country=SWE~GBR
          The epidemic in Sweden and the UK both follow the same pattern–Covid-19 first arrives, then there’s a summer lull, then it takes off in the fall (flu season), peaks sharply in January, then crashes to where we are now which is hardly any cases.

          It crashed because it ran out of susceptible victims–millions had already gotten sick and developed immunity, but even many more millions got infected, developed immunity and DIDN’T get sick. So the vast majority of people are already protected.

          This should mean that Covid-19 is on its way out, deviants or no deviants. The only caveat is that this is not a naturally occurring virus. But I’d put money that it will be essentially gone by the end of summer. Or, if it still lingers, it won’t be of much importance at all. Fear Porn or not….

          1. My county has more new daily Covid cases than all of Australia. While we are fully open, Oz is in lockdown. Anyone who hasn’t figured out what’s happening just doesn’t want to see it.

          3. “Get Used to Being Handicapped”
            Awful, poor woman. I feel for her. I told my daughter if she even makes a move toward the jab, I’m going to handcuff her to a pipe.

            I don’t know what is going on with doctors. If you’re lucky they actually look at you (I mean look at you when/if talking to you.) It’s weird. They won’t volunteer any information unless you press them with very specific questions. Then if you bring up something you’ve read, they tell you to stay off those sites, your 15 minutes is up, make an appointment on the way out 😡

          4. I don’t know what is going on with doctors.

            I know what you mean. My GP of 20 years used to be jovial and seemed genuinely interested in my health. The practice he was with was sold to a big healthcare org. Not it’s just a job for him.

          5. I know what you mean.
            I’m not without sympathy for them and the overreaching bureaucratic BS they have to endure. I don’t even care if they remember me – after all most have hundreds of patients – but they could at least look at your chart beforehand.

          6. “I don’t even care if they remember me – after all most have hundreds of patients – but they could at least look at your chart beforehand.”

            Hehe…sounds just like relying on a public defender. If you’re going to do the crime you’d better have some cash tucked away so you can buy some sympathy later on.

          8. As the next defendant’s name and case# is called in the courtroom, the couple of overloaded Public Defenders present can be seen shuffling through their alphabetically sorted case files. They don’t even remember their defendant’s names! LOL!!

            Hence, you better have some money saved for a real lawyer if you expect any of the judge’s sympathy.

          9. I got all that. I didn’t understand the cash and sympathy references. Never mind, life’s too short.

    1. 1 million bitcoins? Wouldn’t it be funny if they were lost with him, stashed on encrypted drive(s) whose passwords he took with him to the grave?

  23. Do the recent crashes in cryptocurrency and lumber futures have implications for traditional risk assets, like stocks, bonds, and real estate?

    Or is it safe to assume traditional assets are fully decoupled from the casino gambling asset class?

    2. Posted on June 26, 2021
      High lumber prices ease
      Business, News
      Here’s what it means for homeowners and homebuyers
      By Jeff Ostrowski – Bankrate.com
      Stacks of plywood sit at a work site in Connecticut. Lumber prices finally are cooling a bit as lumber mills ramp up production to meet the frenzied demand.

      Home prices are soaring, pushed higher by a combination of record-low mortgage rates, strong demand from buyers and a lingering lack of new construction.

      In 2021, a new factor put pressure on home prices: Month after month, lumber prices jumped to new highs. Lumber costs soared more than 30 percent from January through May.

      However, lumber prices finally are cooling a bit as lumber mills ramp up production to meet the frenzied demand. In June, futures prices for lumber dropped below $1,000, off 45 percent from their springtime peak.

      Even so, the National Association of Home Builders says steep lumber prices still tack thousands of dollars onto the cost of a new home, an unwelcome increase for buyers already struggling to find homes they can afford. The trade group has lobbied President Joe Biden and Congress to end tariffs on Canadian wood sent to the United States.

      The Labor Department’s producer price index shows lumber more than doubled from May 2020 to May 2021. The National Association of Home Builders says the price tripled in just 12 months.

      Activity on the futures markets has been even more eye-popping. The price of lumber for March delivery resembles a price chart for bitcoin or Gamestop shares.
      …

      1. What’s the net effect of a 30% increase followed by a 45% drop?

        (1 + 0.3) × (1-0.45) – 1 = -28.5%.
        I.e., we’re talking about a major bear market, even after netting out the retracement to beginning of 2021 prices.

        1. a 30% increase

          Went from $700 Jan 2021 to $1700 (in the future’s market). Seems like more than 30%.

  24. Flashback: Bill Barr Says Mail-In Voting Scheme “Reckless and Dangerous”

    Infowars.com
    June 28th 2021, 12:37 pm

    According to an upcoming book by CBS fake newser Jon Karl, Barr said near the end of Trump’s presidency that “there was nothing there” when it came to fraud in the 2020 presidential election.

    “My attitude was, it was put-up or shut-up time,” Barr reportedly said. “If there was evidence of fraud, I had no motive to suppress it. But my suspicion all the way along was that there was nothing there. It was all bullshit.”

    But Barr had a totally different take in September 2020, when he appeared for a heated interview on CNN’s “Situation Room” to warn of the many risks and dangers that come with universal mail-in voting pushed by the Democrats in the name of protecting public health.

    “Wolf, this is cheap talk to get around the fundamental problem,” Barr told host Wolf Blitzer. “Which is the bipartisan commission by Jimmy Carter and James Baker said back in 2009 that mail-in voting was fraught with the risk of fraud and coercion.”

    https://www.infowars.com/posts/flashback-bill-barr-says-mail-in-voting-scheme-reckless-and-dangerous/

  25. Hunter Biden Investment Firm Financially Tied To Wuhan Lab & EcoHealth Alliance

    No wonder Biden wants to hide the true origin of COVID-19!

    By Kelen McBreen | INFOWARS.COM Monday, June 28, 202

    y Kelen McBreen | INFOWARS.COM Monday, June 28, 2021
    A company co-founded by Joe Biden’s crackhead son Hunter has financial ties to the notorious Wuhan Institute of Virology as well as Peter Daszak’s controversial nonprofit EcoHealth Alliance (EHA).

    Rosemont Seneca Technology Partners (RSTP), the investment firm Hunter co-founded with Senator John Kerry’s stepson Christopher Heinz in 2009, was the center of a massive scandal last year after it was revealed the wife of the former mayor of Moscow mysteriously wired $3.5 million to the firm.

    Now, Natalie Winters of The National Pulse has discovered Hunter Biden’s RSTP funded a San Francisco-based company called Metabiota, which specializes in detecting, tracking, and analyzing potential disease outbreaks.

    A June 2015 financial report shows RSTP gave Metabiota $30 million to help “protect the world from the spread of epidemics.”

    One year before RSTP began funding Metabiota, the disease tracking company partnered with EcoHealth Alliance under the USAID’s Predict Project.

    In 2014, Metabiota, EHA and the Wuhan Institute of Virology were all named as researchers studying infectious diseases deriving from Chinese bats.

    https://www.newswars.com/hunter-biden-investment-firm-financially-tied-to-wuhan-lab-ecohealth-alliance/

    1. Biden wants to hide the true origin of COVID-19!

      The truth remains that the CCP knowingly unleashed their little problem on the world. I sort of think the lab origin question is simply a distraction, leading nowhere.

  26. ‘You have to walk the line between the brutal reality of our market … and the excitement of buying a home,’ she said.”

    Translation: buyers’ and sellers’ realtors will collude to extract the maximum sales price possible from the shack-buying mark, er, client.

  27. As I lay here listening to the neighbor couple having sex, I’m reminded of recent wise comments here:
    “If you share a wall with stranger, you don’t own shit.”
    and
    “Never share a wall or a wife.”

    Luckily I’m just renting and moving soon.

  28. ” The couple eventually made five more offers, one as much as $220,00 above the list price, but found sellers were only interested in cash. Discouraged by the resale market, they looked into new construction and found a builder who had three properties available on a first-come, first-served basis. Unbeknownst to them, they were first in line and able to purchase a home using the VA loan for under $800,000. Although higher than their initial budget of $550,000, More said, ‘I just got completely lucky.’”

    WHAT AM I READING!!! first off, their offer was rejected for only offering 200K above asking. now they feel lucky that they bought a home above budget but were first in line to sign contract for a (near term) depreciating asset. these buyers will be feeling regret come september

  29. ‘The demise of the i8 last year would, you might have thought, signalled the end of the i3 too as BMW rolls out its new EVs, but it seemed last year BMW were very bullish about the i3’s future.’

    ‘Rather than binning the i3 along with the i8, BMW was clear that production would continue until 2024, and that they had the capacity to double production to meet demand as i3 sales remained strong despite its age.’

    ‘But a year’s a long time in the car world – now, more than ever – and it looks like BMW are planning to dump the i3 sooner rather than later.’

    ‘According to BMW Blog – and subsequently confirmed by BMW – sales of the i3 are to end in the US next month (July 2021) and, although not confirmed by BMW, it’s expected the i3 will leave the market altogether in 2022.’

    ‘For now, though, the i3 is still available, and with the recent price cut for the i3 it’s more affordable too.’

    https://www.carsuk.net/electric-bmw-i3-axed-in-u-s-next-month-uk-and-europe-to-follow-next-year/

    My self driving flying taxi gets farther way every day…

    1. VW sure is pushing its electric SUV really hard in advertising. It’s expensive and its range in a full charge is still short of 300 miles, probably more like 200 on a “rapid” charge. That has to make for a fun road trip.

      And if you live in Clownifornia, you are being told to not charge your electric car, because there is a power shortage.

  30. Dallas, TX Housing Prices Crater 11% As US Housing Demand Plummets On Soaring Fraud

    https://www.movoto.com/tx/75209/market-trends/

    As one national broker disclosed, “There are no bidding wars nor has there ever been… It’s just something we deliberately misrepresent to get the buyer to pay far more.”

  31. gets farther way every day…

    Don’t give up. There are still plenty of creative ways to spend more money that you don’t have on wasteful things that you don’t need. You just have to try harder.

  32. REIC corruption kills, but will go unpunished in a Democrat-corrupted judicial system.

    REVEALED: Owners of condos in collapsed Miami tower were warned they would need to pony up $15m for repairs weeks before it collapsed as it’s revealed developers skirted building codes to add penthouse

    https://www.dailymail.co.uk/news/article-9735721/Miami-condo-owners-told-April-need-pay-15-million-renovations.html

    Residents of the Miami condo building that collapsed in the early hours of Thursday were warned in April that they would have to pay $15million in repairs, it emerged on Monday – as new documentation showed a penthouse was added at the last minute in violation of planning rules.

    The Champlain Towers South condo was due this year for its 40-year inspection, as mandated under Florida law.

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