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The Higher Markets Flew During The Boom, The Harder They Will Fall

It’s Friday desk clearing time for this blogger. “The red-hot Houston housing market, which experienced a record-breaking run starting in the second half of 2020, has begun to cool, according to the Houston Association of Realtors. The volume of home sales has lagged behind year-earlier levels for four consecutive weeks. The decline mirrored a drop in pending home sales across the nation, which fell in June compared to both the month and year before, according to the National Association of Realtors.”

“‘The moderate slowdown in sales is largely due to the huge spike in home prices,’ said Lawrence Yun, chief economist for the NAR. ‘Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat.'”

“Joel Kan, associate vice president at the Mortgage Bankers Association, noted that the volume of mortgage applications to purchase a home had declined on an annual basis for the past three months and is now at its lowest level since May in 2020, despite mortgage rates remaining near record lows.”

“Pending home sales, showings and mortgage applications to purchase new home, three indicators of future home sales, also dropped. Over the same period, pending home sales fell by 19 percent and showings by 7 percent, according to HAR data. Mortgage applications during in the week ending July 23 were 18 percent lower than the same week a year before, said the Mortgage Bankers Association.”

“In Northern Virginia, inventory was up nearly 31%, according to the Northern Virginia Association of REALTORS®. However, weekly showings in Northern Virginia toward the end of June revealed a noticeable dip in activity. There were 3,610 new listings in June—37.4% above the 2,628 new listings last year. ‘Towards the end of June, we did see some softening, which likely is related to vacations,’ said Ryan McLaughlin, NVAR CEO.”

“Ask any real estate agent to characterize the current real estate marketplace and you’ll hear descriptions like ‘sizzling hot,’ ‘unbelievable,’ ‘phenomenal,’ and other superlatives. It might come as a surprise, then, that some homes have stayed on the market for months, even years. Joyce Styne, a real estate agent with Berkshire Hathaway, is selling a home in East Hills that was originally marketed for $2.1 million in November. The price was reduced three times: to $1.898 million, then $1.75 million, then to its current asking price of $1.699 million.”

“‘Unfortunately, I did not select the first price, and at this point of time it is now at the correct asking price,’ Styne says. ‘Had it started at the current price with its superb presentation, it would have long been sold.'”

“Le, and her partner Vu, live near Lake Murray at San Diego and own several other San Diego properties. They rented out portions of the estate and a pool house to five current tenants and also rented space to area visitors through the Airbnb system. Le and Vu said they wanted to maintain the over 10,000-square foot main house, pool house and 5 1/2 acre property and continue renting out space as a service to the Rancho Santa Fe community rather than allow developers to turn the historic property into new homes. However, records showed they were losing over $20,000 a month with their arrangement for a long period of time.”

“Vu said they had lost over $1 million on the property and were being heavily pressured by the buyer whose identity has not been disclosed to him, forcing them to take at least $1 million off the list price. He said the buyer who will not identify herself, and her agents, were continuing to try to drive down the purchase price by specifying changes such as gate repairs costing $6,000 and landscaping alterations Le and Vu needed to execute before the forced sale.”

“The mystery buyer was strong arming the El Camino property owners who desperately needed the cash sale or allow the property to be foreclosed, according to Vu. With his eyes turning red, Vu said he had received better offers but they were contingent on financing and he was forced to sell the property as quickly as possible.”

“TD Economics says Canadian housing sales have ‘begun their correction in earnest.’ And as far as bank economist Rishi Sondhi is concerned, the ‘interesting question becomes how steep the decline will be.’ Sondhi noted that since March 2021, Canadian home sales have dropped by 25 percent. ‘As it turns out,’ the bank economist wrote, ‘March seems to have been the absolute peak of the mountain in terms of activity.’ Sondhi noted that the pace of Canadian home sales in the first quarter of 2021 was clearly ‘unsustainable.’ ‘The question was how long it would hold up,’ Sondhi remarked.”

“The higher markets flew during the boom, the harder they will fall. Home sales have dropped 32% in Nova Scotia year to date, 20% in Quebec, and 17% in Ontario, Sondhi said.”

“The gap between house and unit rents across Australia’s capital cities is sitting at record levels, jumping well ahead of where they were a decade ago. Domain chief of research and economics Nicola Powell said this record gap meant people renting units were able to save more now than ever, thanks to the cheaper costs, which allowed them to buy into the market sooner. She also said the consistent decline of unit rents across some capitals had seen investors turn away from buying them.”

“Propertyology head of research Simon Pressley took a more pessimistic view saying it could take up to five years for the unit market and ents to recover from the impact of the pandemic. Prices could stay at low levels or even fall, even as the market recovers, he warned. ‘I think there’s a lot of people contemplating [buying an apartment] now … but they should be asking themselves, ‘how would I feel in two years time if I bought an apartment for $550,000 and it’s now worth $480,000’?’ Mr Pressley said. ‘The prices that are going up are for houses and not units, so that should be sounding alarm bells.'”

This Post Has 135 Comments
  1. ‘With his eyes turning red, Vu said he had received better offers but they were contingent on financing and he was forced to sell the property as quickly as possible’

    Stamp yer little feet Vu.

  2. ‘There were 3,610 new listings in June—37.4% above the 2,628 new listings last year’

    Shazaaam! that’s a lot of shacks! I read this morning that UHS say national listings increased 10% May to June. This is what one would expect after a parabolic mania blowout top.

    1. “37.4% above the 2,628 new listings last year’”

      Wha……!
      I thought we have a massive housing shortage.

      1. Shortage, shortage! Glut.

        As I said, the appearance of so many (thousands and thousands) sellers at a perceived top is a sign of speculation. The REIC won’t admit it, but what else is new?

        1. “The REIC won’t admit it, but what else is new?”

          Why should one expect the REIC to admit it?

    2. Every real estate investor wants to HODL while prices are rising at 25% per annum, but the moment prices start to crater, investors dump inventory on the market in a heartbeat.

      Nobody wants to ride a falling knife to the bottom of the crater.

  3. ‘As it turns out,’ the bank economist wrote, ‘March seems to have been the absolute peak of the mountain in terms of activity’

    The winnahs!

    ‘Sondhi noted that the pace of Canadian home sales in the first quarter of 2021 was clearly ‘unsustainable.’ ‘The question was how long it would hold up’

    Had you read the HBB you would have known March was the peak cuz so many K-dns were saying so, especially in BC. Good luck Nova Scotia winnahs!

  4. ‘Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat’

    Runaway, run away!

    ‘the volume of mortgage applications to purchase a home had declined on an annual basis for the past three months and is now at its lowest level since May in 2020, despite mortgage rates remaining near record lows’

    ‘Pending home sales, showings and mortgage applications to purchase new home, three indicators of future home sales, also dropped. Over the same period, pending home sales fell by 19 percent and showings by 7 percent, according to HAR data. Mortgage applications during in the week ending July 23 were 18 percent lower than the same week a year before’

    Similar mortgage trends were seen recently in Austin.

    FOOKED!

    1. Will be fun seeing what happens with a half-point up tick in rates. 1% disaster. 2% increase still near lows cataclysmic. Enjoy all you cocktail party boasting buyers!

    2. I’m feeling sorry now for our friends who bought in Austin when they moved there this spring. They felt like they had to buy, and were compelled by market conditions to waive their inspection. I wonder how that decision will look in retrospect, once the dust settles into the crater.

  5. File this under “diversity is our strength.” If the accused sailor was white, his mug shot would be all over the MSM, along with hints he was a “white nationalist” or Trump supporter.

    US Navy charges sailor with arson for fire that destroyed the $750M USS Bonhomme Richard, injuring 63 sailors and civilians

    https://www.dailymail.co.uk/news/article-9841701/US-Navy-charges-sailor-fire-destroyed-750-million-USS-Bonhomme-Richard.html

    The US Navy has charged a sailor with arson for setting fire to the USS Bonhomme Richard last July, destroying the $750million ship and injuring 63 people.

    The Navy has not released the name of the sailor, who was a member of the ship’s crew at the time, according to a news release.

  6. This article was written a week ago.

    Appeals court says CDC exceeded authority with eviction moratorium – UPI.com
    https://www.upi.com/Top_News/US/2021/07/23/appeals-court-evictions-CDC/6321627076480/

    (snip)

    “July 23 (UPI) — A federal appeals court ruled Friday that the U.S. Centers for Disease Control and Prevention overstepped its authority when it imposed a moratorium on evictions amid the COVID-19 pandemic.

    “The 6th U.S. Circuit Court of Appeals unanimously agreed that such a moratorium should come from elected officials, not the CDC.

    “The agency enacted the temporary eviction moratorium in September after one under the congressionally passed CARES Act expired in July 2020. The CDC action followed an executive order by former President Donald Trump on Aug. 8 directing the agency to investigate the issue of evictions amid the pandemic.

    “The moratorium sought to help Americans financially impacted by the pandemic stay in their homes and facilitate their ability to maintain social distancing to limit the spread of the virus.

    “Regardless of the appellate court’s opinion, the CDC’s moratorium was set to expire July 31, so it’s unclear what practical effect the ruling will have.”

    July 31 is tomorrow. Stay tuned for further developments.

    1. Congress scrambles to extend eviction moratorium expiring Saturday

      WASHINGTON — Members of Congress scrambled at the eleventh hour Friday to extend the pandemic eviction moratorium, making a last-ditch effort to avert its expiration Saturday that could allow thousands of people to be kicked out of their homes.

      They’re not going to let this expire if they can somehow help it. EVER.

      1. There’s a lot of fuzzy thinking going on these days. The CDC doesn’t have the authority to do jack sh$t. Congress doesn’t have the authority. I’m a landlord in Arizona. All this stuff has been irrelevant for many months. Read the sob stories in the papers: even in commie-fornia there are loopholes to evict. If a local court will hold a hearing, and they will, you can evict. I haven’t had to evict anyone for a long time, but back when I did I usually just tell them to GTFO and they leave.

        OK, so lets think through: if this was theoretically a thing and forevah and what would happen? Complete crater of the residential market. All of it. Multifamily, everything. So what’s this really about? Meaningless showboating.

        And BTW, we got 75,000 mail in 2020 ballots in Maricopa county that the county didn’t mail out. And that’s just one part of the preliminary findings, there will be much more in the audit. The other day I tried to imagine what it would take to produce, fill out and file 75,000 fake ballots. You’d need lots of people. Offices, computers, printers (that all leave trace info), lists. Every time one of those babies was dropped into the mail system – felony! And if foreign countries were involved in any of this, and they were, it’s treason.

        1. “The other day I tried to imagine what it would take to produce, fill out and file 75,000 fake ballots. You’d need lots of people.”

          I’ve been wondering about this point exactly. How do you pull off something of that scale and not get caught? There are too many people who were in on it. Loose lips and all.

          Oh wait. My bad. They did get caught. The evidence is everywhere, except in the news coverage.

        2. We are way passed fuzzy thinking and in the zone of irredeemable imbecility. There are tens of thousands of untested and unjabbed people crossing the border illegally EVERY WEEK and they are being shipped around the country using government contractors and at the same time our government is telling us that if we don’t get the ham sandwich we are akin to murderers. You don’t need science to understand what is going on. You just need common sense.

      2. I’m with you. They have no authority, but they’re doing it anyway. It’s a sham. But there are landlords getting hurt badly by it out there. These filthy bureaucrats think they can just make up anything and laws don’t matter. Now that the courts ruled the CDC never had the authority, can they be sued? Something needs to give.

  7. I was expecting the DOW to drop because of Delta Delta Delta. But it’s flat. I guess Wall Street doesn’t have much respect for the CDC either.

    1. I was expecting the DOW to drop

      I am too. According to Jack Posobiec (credible???): White House chatter of lockdown 2nd week in August with blue states cooperating.

      1. I believe you, but is there any extra detail on that? I know that they said “lockdowns are not off the table,” but I don’t know if it’s gone beyond that. And I’m not sure even the blue states would cooperate this time. I think we’re more likely to see vaccine segregation before locking down the vaccinated.

        Meanwhile, Pfizer vaccine is falling down on the job, especially in Israel. My recommendation is that they “top off” with a J&J. 🤪

          1. what exactly is “vaccine segregation

            Vax passports. Another “conspiracy theory” that will become reality and we will be gaslighted and told that no one ever denied they were coming.

          2. My brother came back from a funeral in Europe. He said that they already have vax passports over there: official government issued, laminated cards with scan codes on them.

            Your papers, please.

          1. I’m looking at the comments on that tweet now. No corroborating sources or details. I saw only two good points: 1. Does Posobiec even have any WH sources, and 2. it’s just a trial balloon. Come on Jack, if you want confirmation, call a blue-state governor, since they are supposedly in on it.

          2. I don’t care for Jack Posobeic and discount the information accordingly. I did, however, decide not to book a trip that week because I was anticipating a lockdown and didn’t want to cancel another trip like I did in February 2020.

          3. I’ve also spoken with my financial advisor and derisked some of my accounts in anticipation of a choppy market ahead.

          4. I don’t have a twitter but my wife goes thru my pants pre-laundry. I’m sure all that change over the years will easily fund her escape w/some cabana pool boy in exotica.

            been scanning Craigslist personals for “Do You Like Pina Colada’s?” ads.

          5. FYI, you may have to type “twitter” and “name” in google to find a twitter feed. If you go to the main twitter dot com page you might not get past a sign-in page.

        1. I guess the scan codes are to prevent forgeries. Are they like regular dumb ink barcodes, or are they chip tracked? Will they ding your social credit score if you go to the wrong nightclub?

          HW, I made a joke playing on some recent media articles, where doctors are encouraging those who got the “inferior” J&J shot to get an additional mRNA shot to improve the immunity. The only booster shot I would agree to is a J&J tweaked for Delta.

      2. It’d be interesting if some states listened to the Feds and locked down and others didn’t. What does that do to the legitimacy of the Federal government? It further shows states can nullify whatever laws or decrees they want. I think that was happening back in the 1830s.

        1. Bad timing for Newsom but it looks like he has bigger problems.

          FiveThirtyEight: Gavin Newsom Has Reason To Worry
          Recent polls show the race is tightening and Republican voters are more energized.

          “Yet Newsom’s handling of the pandemic might not be his biggest liability. A slightly greater share of likely voters in the Berkeley poll agreed with the statement that Newsom should be recalled “because he has failed to adequately address many of the state’s longstanding problems,” such as homelessness, income inequality and wildfires (48 percent), than agreed with the statement that he should be recalled “because he greatly overstepped his authority as governor when responding to the COVID-19 pandemic” (44 percent).”

          No link.

          I just saw the damage up at Shaver Lake from the fire one year ago and it was devastating. In 2016, we saw how sick everything was and knew it would be a tinder box one day. Democrats have ruined this state. I hope fellow Californians have also had enough and actually get a choice this time.

          1. Who is the best choice to replace Nuisance?

            We did it with Arnold (have his signatureon my diploma) and we can do it again.

          2. Larry Elder is leading in the polls with John Cox and Former Mayor of San Diego Kevin Faulconer tied for second. California Republican leaders have backed Faulconer as a potential gubernatorial candidate since 2014. (See July 30, 20210 San Diego Union-Tribune column); that’s a red flag for me. I voted for Cox last time. I was hoping Ric Grenell would run this time. Larry Elder is sharp, knows what ails his community and this state, and would be the greatest middle finger to the establishment.

  8. “‘Unfortunately, I did not select the first price, and at this point of time it is now at the correct asking price,’ Styne says. ‘Had it started at the current price with its superb presentation, it would have long been sold.’”

    Haha, ever hear of a Dutch Auction?

    1. The only problem for many folks who try to sell this way is that they forget to keep reducing the price until they reach market value, at which point a sale can be made.

      I’ve often wondered if the name refers to the manner of selling tulips after Tulipmania collapsed?

    1. I’ve seen a few young families arrive from Mexico where the mother is considered under-age here in Washington state, and they get caught-up in our legal system. I don’t understand why they’re not deported as an intact family.

      1. I don’t understand why they’re not deported as an intact family.

        Because they are your replacements.

  9. CDC slides leaked by WaPo. See slide 4. In May, 15.1% of in-hospital deaths were fully vaccinated. That’s not what we’ve been told!

      1. Per Kimberly Klacik on Twitter, Biden yesterday credited Trump with the development of the vaccine. WaPo leaked the CDC document last night.

      2. I fully expect by next year the other side will blame Trump for all the vaccine injuries and deaths that the media currently denies are happening at all. Just look at the media’s about-face on the lab leak theory, or Democrat politicians claiming Defund the Police was a Republican idea.

        1. I’m not thrilled with Trump’s messaging on vaccines, but it’s hard to blame him when Fauci, other bureaucrats, social media and MSM shut down any consideration of therapeutics. Based on Trump’s view of vaccines pre-presidency, I highly doubt he’d be pushing these jabs as hard as Biden is. Trump wanted RFK Jr to head a committee to look at vaccine safety. Bill Gates proudly boasts in a televised interview that he stopped that from happening.

      1. Just 31 deaths in the past week in OK.

        In 2018 there were 67,000 overdose deaths in Oklahoma. That’s 1,300 a week.

        They want us to lock down for this? Just say no. Refuse the mask.

        1. There’s always a 3-week time lag from cases to deaths. It might be longer than 3 weeks now that the hospitals have better meds. And according to the paper, Delta is still only 50% of Oklahoma. Cases are likely to pick up as Delta out-competes the others. I guess the this is what the CDC is trying to get out in front of.

        2. You’re numbers are grossly off. In 2020, there were a total of 93,000 drug overdose deaths in the entire US.

          1. You’re right. I was reading an article about Oklahoma OD death, and the number quote was the nationwide count.

  10. They brought the place for $4M in 2005. What’s the monthly carrying cost? They rent it out like it’s a dorm LOL too. Losing $20k per month is probably real but I didn’t understand why they didn’t jiggle-mail the keys back to the bank.

    It looks like they will sell it for $3.6M as the buyer wants to chop one million off the listing price. Still overpriced for sure. Have fun with the $38K in property taxes per year.

    https://www.zillow.com/homes/15350-El-Camino-Real-Del-Mar,-CA-92067_rb/16732548_zpid/

    Price history
    Date Event Price
    7/2/2021 Pending sale $4,599,000$560/sqft
    Source: CRMLS #NDP2107156 Reporta problem
    6/22/2021 Listed for sale $4,599,000 (+18%)$560/sqft
    Source: CRMLS #NDP2107156 Reporta problem
    8/1/2019 Listing removed $3,899,000$475/sqft
    Source: Michael Wayne Williams, Broker Reporta problem
    4/27/2019 Price change $3,899,000 (-2.5%)$475/sqft
    Source: Michael Wayne Williams, Broker Reporta problem
    3/22/2019 Price change $3,999,999 (+33.3%)$487/sqft
    Source: Michael Wayne Williams, Broker Reporta problem
    3/12/2019 Price change $2,999,999 (-25%)$365/sqft
    Source: The Guiltinan Group Reporta problem
    11/3/2018 Listed for sale $3,999,999 (+8.1%)$487/sqft
    Source: The Guiltinan Group Reporta problem
    3/10/2018 Listing removed $3,699,900$451/sqft
    Source: Avenue3 Realty Reporta problem
    9/14/2017 Price change $3,699,900 (-9.8%)$451/sqft
    Source: Avenue3 Realty Reporta problem
    8/14/2017 Listed for sale $4,100,000 (+17.2%)$499/sqft
    Source: Avenue3 Realty Reporta problem
    3/10/2017 Listing removed $3,499,000$426/sqft
    Source: Pacific Sotheby’s International Realty Reporta problem
    11/22/2016 Listed for sale $3,499,000 (-16.6%)$426/sqft
    Source: Pacific Sotheby’s International Realty Reporta problem
    10/1/2013 Listing removed $4,195,000$511/sqft
    Source: Prudential California Realty Reporta problem
    6/5/2013 Price change $4,195,000 (-0.1%)$511/sqft
    Source: — Reporta problem
    1/27/2013 Listed for sale $4,200,000$511/sqft
    Source: — Reporta problem
    4/17/2012 Listing removed $10,000
    Source: Barry Estates, Inc. Reporta problem
    4/15/2012 Listing removed $4,200,000$511/sqft
    Source: Barry Estates, Inc. Reporta problem
    10/6/2011 Listed for rent $10,000
    Source: Barry Estates, Inc. Reporta problem
    10/5/2011 Price change $4,200,000 (+41900%)$511/sqft
    Source: Barry Estates, Inc. Reporta problem
    10/2/2011 Price change $10,000 (-99.8%)$1/sqft
    Source: Barry Estates, Inc. Reporta problem
    9/27/2011 Price change $4,200,000 (+41900%)$511/sqft
    Source: Barry Estates, Inc. Reporta problem
    9/24/2011 Price change $10,000 (-99.8%)$1/sqft
    Source: Barry Estates, Inc. Reporta problem
    9/23/2011 Price change $4,200,000 (+5%)$511/sqft
    Source: Barry Estates, Inc. Reporta problem
    8/12/2005 Sold $4,000,000$487/sqft
    Source: Public Record Reporta problem

    1. At those numbers? You know theres fraud involved. Where theres realtors and mortgage pimps, there’s crime….. every single time.

      1. “[I]t was once the exclusive Hollywood resort for many top celebrities i.e., John Wayne, Betty Davis, Bing Crosby and the list goes on.”

    2. That is ugly AF. You always know it’s ugly AF when the first realtor picture is NOT the front door. I see it in my area too — if the first pic is the Home Cheapo trophy kitchen, you know it’s plain jane. But at least it looks like you’re getting a lot of square footage for the money, compared to the Poway stuff that Red’s looking at.

        1. Or a price tag that’s $500K less. But I don’t have a good handle on the prices. But as a house, it’s really nice. Good backyard for entertaining. The only thing I don’t like is the placement of the kitchen sink. There’s got to be a better way to lay out the kitchen.

          1. There are lots of beautiful homes in Poway with large yards. They predate the evil Housing Bubble-era coalition between Wall Street favored, nationally positioned homebuilders, like Tool Brothers, Hovelnanian, etc.; communistic governments; and New Age urban planners who brought us buttloads of fugly, overpriced McMansions on postage stamp-sized lots.

            My lone professional musician gig in 2020, during a forty year career drought, was to play for a wedding in someone’s large Poway backyard. (Drought continues, btw…I don’t even identify as a professional musician any longer.)

            Redpilled will get her place if she’s patient. Many of these places are occupied by people who are nearing or beyond the ends of their effective homeownership years, who are mainly HODLing at this point to capture the high recent rates of Fed-funded appreciation. Once the market turns, Poway will morph into Dutch auction city, resembling other wealthy areas whose falling home prices have been the subject of numerous posts here.

          2. Many of these places are occupied by people who are nearing or beyond the ends of their effective homeownership years

            I knocked on one door because I saw different vehicles in the driveway every day; a health worker answered the door and the husband jokingly asked for $3M. I left a letter in another mailbox seeking to do a 1031 exchange knowing they’re in default. Which reminds me, I need to call their trustee next week if foreclosure moratoriums do indeed expire today.

          3. “Which reminds me, I need to call their trustee next week if foreclosure moratoriums do indeed expire today.”

            Gotta wonder how many “high brow” folks are playing the moratorium game?

          4. That one of Valle Verde is too fancy for its square footage. The waterfall into the pool is cute but I would be too tempted to convert it into a waterslide. As for maintenance, all I can think about is the amount of roof flashing you would need to inspect… yikes!

          5. I recall recently seeing a “purge the wealthy” movie trailer that was in Spanish language. It looked like something Quentin Tarantino might produce, e.g., lots of violence toward those living a hedonistic lifestyle.

          6. This new listing is so tempting but I know better:

            Yuck. Builder beige, faux stone, granite countertops, fake asz particle board (mdf) wainscotting, Home Cheapot looking cabinets on a $2 million house? Pfffft……

          7. The waterfall into the pool is cute but I would be too tempted to convert it into a waterslide.

            It has a waterfall and waterslide. My son would be in immediate heaven and relatively speaking the house doesn’t require extensive renovations. The unused acreage would make a nice tree orchard and garden.

    3. “…Have fun with the $38K in property taxes per year….”

      Nice place, to be sure, but just external maintenance alone (ie gardener, pool, paint, roof, etc) has just got to be a killer.

      For some reason, many folks who buy these places get stars in their eyes and suspend all common sense.

      The only person who really makes out on deals like this one is, once again, Mr. Banker

      1. Perfect, albeit oversized, example of SD’s lipstick on a pig ranch homes. The kitchen is nice but where would I store all of my dishes and other kitchen crap? It has high end appliances but a real cook would not like that kitchen. The asphalt driveways look like they need a lot of work. Prime location though!

        1. lipstick on a pig ranch homes

          Speaking of, the pig I live in is getting new lipstick this week. My 90ish landlady and her daughter in CT picked the colors against my advice and it’s FUGLY.

        2. The photos are pretty bad. They don’t even show a pic of what appears to be a two-story great room with a wall of windows. I don’t like the brick in the kitchen. I guess there are enough undercabinets to store the dishes IKEA-style. And there’s a butler’s pantry with a warming oven(?) so I guess the lady of the house isn’t bothering with dishes.

        3. “The asphalt driveways…”

          Oily mess!

          In addition to being aesthetic cobblestone has that “manual labor” look to it.

      2. “The only person who really makes out on deals like this one is, once again, Mr. Banker.”

        Always.

  11. DR. ZELENKO DISCUSSES HIS AFFORDABLE COVID TREATMENT AND THE CENSORSHIP THAT FOLLOWED

    https://rumble.com/vkfzi9-dr.-zelenko-discusses-his-affordable-covid-treatment-and-the-censorship-tha.html

    Dr. Vladimir Zelenko talks with author John Leake about treating his patients for Covid-19 and then sharing his insight with the White House. In spite of (or because of) President Trump’s initial embrace of Dr. Zelenko’s treatment protocol, government agencies such as the NIH and FDA first dismissed it, and then prevented public access to its key ingredient, hydroxychloroquine. This deliberate suppression of a life saving medication led to the preventable deaths of hundreds of thousands of Americans.

    Dr. Vladimir Zev Zelenko was born in Kiev, Ukraine and grew up in New York City. He earned his M.D. from the State University of New York at Buffalo. His Zelenko Protocol is a five day course of the following medications:

    –200 mg Hydroxychloroquine twice daily

    –250 mg Azithromycin twice daily

    –230 mg Zinc Sulfate once daily

    1. That was a mindblowing interview of Dr Zelenko , in so many ways. A great example of when good men do something. Same with Dr McCullough .

  12. “…live near Lake Murray at San Diego and own several other San Diego properties. They rented out portions of the estate and a pool house to five current tenants and also rented space to area visitors through the Airbnb system.”

    Do you ever wonder how many of your neighbors own multiple homes, because…hotcakes!

    Housing is the New Age California Gold Rush. And the late entrants are destined to lose alot of money, just like in Gold Rush 1.0.

    1. My husband has a handful of clients wanting to sell their rental properties, but some can’t evict their tenants because of a county ordinance. Watch out when these moratoriums expire.

  13. This freaking clown, I want to have his job. Gotta be easy to be combination of captain obvious with propaganda mouth piece…what a joke to call him an economist.

    “‘The moderate slowdown in sales is largely due to the huge spike in home prices,’ said Lawrence Yun, chief economist for the NAR. ‘Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat.’”

  14. Sorry, ran out of my crocodile tears for you long time ago…instead of sympathy/empathy goes out to those needy homeless folks that will now be criminalize for being homeless in LA.

    ““Vu said they had lost over $1 million on the property and were being heavily pressured by the buyer whose identity has not been disclosed to him, forcing them to take at least $1 million off the list price. He said the buyer who will not identify herself, and her agents, were continuing to try to drive down the purchase price by specifying changes such as gate repairs costing $6,000 and landscaping alterations Le and Vu needed to execute before the forced sale.””

    1. So they wanted to sell the place in 2011. So lets assume the loss started piling up 10 years ago (remember they brought it in 2005).

      10 years x 12 months x $20,000 = $2,400,000.

      I mean, if you lose $20,000 per month (assuming it is rented out every month), that’s a $240,000 loss per year. Did he/they not do the math when they brought this hideous looking place?

  15. “Ask any real estate agent to characterize the current real estate marketplace and you’ll hear descriptions like ‘sizzling hot,’ ‘unbelievable,’ ‘phenomenal,’ and other superlatives.

    Realtors are liars.

    1. I’m not sure if he’s going to right about “the same amount of death.” I think there’s going to be less death, even in low-vax areas, simply because the elderly vaxxed at a high rate everywhere. So, tons of spread, tons of cases, moderate amount of breakthrough cases, but less death.

  16. The globalists and their Democrat-Bolshevik Quislings won’t like this one bit.

    Sixth Circuit Rules CDC Eviction Moratorium Is Unconstitutional

    https://tennesseestar.com/2021/07/27/sixth-circuit-rules-cdc-eviction-moratorium-is-unconstitutional/

    The Sixth Circuit Court of Appeals unanimously ruled that the national eviction moratorium mandated by the U.S. Centers for Disease Control and Prevention (CDC) is unconstitutional. The court said in its ruling that the matter ultimately needed to be resolved by Congress.

    The three-judge panel ruled that the CDC engaged in federal overreach by mandating that tenants who are unable to pay their rent and are in breach of their rental agreements may not be evicted. The CDC had implemented a moratorium in response to millions of people losing their jobs due to governors shutting down their state economies to slow the spread of COVID-19.

  17. At 58 I’m too old for someone to tell me what to put in my body and have lived long enough that the consequences of shooting them in the face for trying won’t faze me.

  18. Charlotte, TN Housing Prices Crater 21% As Rural Lot And Bulk Land Values Plunge

    https://www.movoto.com/charlotte-tn/market-trends/

    As a national land broker explained, “There is a globe full of land were fully 95% of it goes undeveloped. Land is essentially worthless dirt. If you paid more than $500 an acre, you got ripped off.”

  19. Is anybody seeing signs of a slowing market?

    Wait, let me rephrase that: Is EVERYBODY seeing signs of a slowing market? All at the very same time?! Lolz

  20. And good luck to all the porcine beauticians who are bravely executing their job duties by standing in the track while awaiting the arrival of the fast moving train.

  21. RR,
    Thanks for posting that Frontline Dr. Conference.I have listen for hours so far. Gives A lot of insight to what Drs on the front lines were dealing with.

    1. As far as the globalists are concerned doctors are just another cohort of laborers who are wearing white hospital smocks.

      1. are just another cohort of laborers

        They truly are. I have seen many a private practice here get bought out by some giant healthcare provider, like Banner Health.

        1. I think they were trying to destroy independent doctors, just like the destruction of small business.
          They want all Doctors under the gun of the Big Pharmacy Medical Monopoly doing the narrative of Big Pharmacy.
          The corruption of the Medical System to force the standard of care that a drug and vaccine private party manufacturer monopoly wants.

        2. And then once paychecks come from corporate doctors are corporate stooges. AFLDS’ White Coat Summit highlights the need for independent doctors and pharmacists.

          1. Right. Its all about making monopolies of power, and getting rid of alternatives.
            The Monopolies were enriched by the lockdowns and the Government relief packages to them .
            If consumers have no other choice than monopolies, they dictate
            Same with fake news just one big monopoly of fake and censored news .
            And the corrupted Government under that treasonous demented Biden isn’t doing their job to break up monopolies.
            The game plan they have is so evident .

  22. I believe the plan was to throw us into a Panademic. Lockdown and destroy smaller business, while enriching the big Monopolies .
    Also bring on the medical Tyranny of Big Pharmacy as a weapon of control, surveillance, police state, and forced injections.
    Fake and censored monopoly news to fear monger and control! dispute to their fraudulent narratives.
    Invasion of the borders to undermine a sovereign state.
    Rigged election so Biden and majority rep. could implement new laws against Citizens, maybe stack the Courts, and openingly attack over half the nation for being white Innsurrectionist or Trump voters , to create a one party system of Democrat traitors to usher in Marxist Dictorship gov.
    They wanted to promote crime, chaos, and fear, while they tried to undermine law and order and corrupt judicial process by unequal justice. Remember how the Big Corporations were the ones making donations to the non peaceful protesters and BLM committing a lot of crimes.
    Release as many harden criminal and release criminal rioters, to create chaos. Defund the Police to create more crime.
    Create division by false Racism narratives, and demonize groups that are innocent . Brainwash in school system to have useful enforcers of false narratives.
    Loot as much tax dollars as possible to be transferred to the Globalist Monopolies.
    Keep China as the manufacturing monopoly of the world, to weaken US.
    Dr Fauci giving gain of function and funding to a foreign Country lab , act of treason and GOF activities were illegal in US. They unleashed a bio weapon.
    Use the Panademic to help rig the 202o election to get lack of over site of fraudulent ballots.
    Suppress viable drug treatment for Covid to get EUA for experimental new technology vaccine. Have bogus PCR tests and test the nonsick and falsely claim they are super spreaders.
    Bribe hospital with money incentives to lable everything Covid. Harass and threaten any medical personnel that doesn’t go along with Big Pharmacy
    ” final solution ” of untested vaccines.
    Have FDA have a conflict of interest by being funded in part. by big Pharmacy.
    A jab in every arm, including children with no medical justification to do so.

    More lockdowns planned, and vaccine passports so they can control your life by this Medical fraud.
    Collusion by all the Global Monopolies, Banking Cartel, Wall Street , Elites, and Foreign Countries.
    All this for A one World Order of Monopoly rule in US and Europe.
    All this murder and destruction so Monopolies and Rich People can take over peoples right to live as they choose.
    I probably left out some stuff they have done, but this is like a planned out military operation of takeover. And they are insane, criminal, fraudulent and dangerous.

  23. Than……..
    After the enemy breaks down the US by medical tyranny and economic destruction, etc. than comes the BIG RESET when they take over completely in every way.
    The BIG RESET can only take place if they get the set up for it.

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