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They Aren’t Getting Any Offers And Are Panicking

A report from 5280 on Colorado. “For single-family homes, CEO of BSW Real Estate Bret Weinstein notes that Denver’s housing market seems to be slowing down and finally experience the seasonality we were used to before the pandemic. ‘We’re finally reaching this point where we’re getting more inventory, we’re starting to slow down a little bit,’ he says.”

“Jon and CJ Bathgate to purchase a home this summer. The couple started casually looking at houses this spring with the goal of moving in the next 18 months, but the Bathgate’s felt pressured to buy a home—and fast. ‘The extra pressure sort of sped up our timeline a little bit because all these great houses were going so fast,’ CJ says. ‘We needed to act now.'”

“So they did. After putting in two offers and being outbid, the couple finally landed a home on their third try. The Bathgate’s said they bought a home near Cherry Hills Village for less than 10 percent more than asking price. ‘We ended up in our dream home,’ CJ says. ‘I keep saying it every day, ‘I can’t believe we got this place.’”

The Columbus Dispatch in Ohio. “Despite the frenzied pace for home shoppers, the report found more Columbus-area homeowners are sticking a for-sale sign in the yard. The number of homes listed in the Columbus area jumped 43% in July over a year ago, by far the biggest jump in the country and well above the U.S. average of 6.5%. July’s jump in Columbus-area home listings followed a 23% rise in listings in June.”

From Consumer Affairs. “Housing market trends continued to tilt in buyers’ favor last month as the number of homes on the market increased for a fourth straight month. Even more promising, inventory levels for starter homes rose. New listings grew 11.1% over July 2020 in the nation’s 50 largest metros, with more than half posting double-digit gains. Listings increased nearly 43% in Columbus, Ohio, nearly 37% in Baltimore, and nearly 36% in Cleveland. In fact, the biggest regional new listings increases were in the Midwest, where inventory rose 19.8%. Listings were up 11.3% in the West.”

From WMUR. “‘We’re seeing a little bit of balance, fortunately, for some buyers in the state. We’re seeing a little less attendance at open houses, a lot more New Hampshire license plates and less Massachusetts, Connecticut license plates,’ said Adam Gaudet from 603 Birch Realty. ‘So, while the inventory was really low in the beginning of the year, we’re seeing a much greater increase each week. Let’s say in the beginning of the year it was hovering around 1,000 single-family homes for sale any given week. Now, we’re more around 1,800 for sale.'”

From Inside Nova on Virginia. “A a sense of ‘normalcy’ may be returning after more than 18 months of a wild, COVID-infused ride in the NVAR region of Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church. ‘The housing market seems to be stabilizing after several months of atypical behavior – strong sales in mid-winter, price increases not seen since the boom of the early 2000s and unusual weakness for prime-location condos,’ said Terry Clower, director of the Center for Regional Analysis.”

“Inventory is anticipated to remain below 2020 levels, although it remains elevated in the upper-market condo sector throughout much of the region as many buyers have opted for other options.”

The Bend Source. “For the first time in over a year, the real estate inventory in Central Oregon increased—albeit a slight increase. Bend and Redmond hit close to a one-month inventory supply for the first time since July 2020. While this number hardly meets market demand, it could be signaling a transition in the market. Inventory trends tend to be the initial indications of a market shift; a stabilization of pricing, increases or declines.”

“Redmond’s median single family home price dropped to $436,000 in July from the record $451,000 set in June of this year. While Central Oregon’s real estate inventory shortage has been a persistent theme of 2021, July demonstrated a bright spot with a slight increase across the region. While this is a long way from a healthy and stable real estate supply, it could be signaling the beginning of an upward trend.”

The Spokesman Review in Washington. “While Spokane County’s median home price surged to another record high in July, a slight uptick in inventory and cooling sales may be signs of a market beginning to normalize, local Realtors say. ‘We are still seeing multiple offers on homes, but we’re not seeing quite as many,’ said Eric Johnson, president of the Spokane Association of Realtors. ‘We are seeing price reductions in some areas. Those have increased quite a bit. I think that’s partly because people are expecting 15 offers in the first two days (the home is on the market) and they aren’t getting any offers and are panicking.'”

The Tampa Bay Business Journal in Florida. “Nationwide foreclosure filings in July slightly decreased from the previous month but were still up 40% from a year ago, and in the Tampa Bay area, year-over-year foreclosure filings were significantly higher. In July 2020, there were only 20 foreclosure filings in the Tampa Bay metro area. In July 2021, there were 215, a staggering 975% increase. This was most pronounced in Pasco County, which saw a 1425% increase year-over-year, and least evident in Hernando County, which only saw a 150% increase. Still, Tampa Bay was not among the metros with the highest foreclosure rates. Those included Atlantic City, New Jersey, Macon, Georgia, and Las Vegas.”

“Florida had the second-highest number of real estate-owned properties, meaning the property is owned by a lender because it failed to sell in a foreclosure auction after the borrower defaulted. There were 172 REOs in Florida, surpassed only by Illinois with 230. Nationwide REOs are up 5% from last month and up 12% from last year, according to ATTOM, which conducted the study.”

From Yahoo Finance. “In many instances, these ‘mom and pop’ landlords are working class, and the fallout from COVID-19 has left them equally as cash-strapped and hard-pressed to pay bills as their renters are. ‘When they don’t receive rent, they still have to find a way to pay their mortgage for the property, pay the water, the lights, the insurance,’ said Lucinda Lilley, president of Southern California Rental Housing Association. ‘The problem is that sometimes if a renter is not willing to participate in that program, the rental housing provider doesn’t have any way to go ahead and collect that money so [landlords are] left holding the bag.'”

The National Post in Canada. “During the first week of August, a home seller in Hamilton received a purchase offer amounting to $100,000 above the asking price. But rather than thank the real estate gods for their munificence, the Steeltown homeowner rejected the bid, convinced that a better one was just around the corner. It was the latest instance, says Rob Golfi, the realtor whose office attempted to broker the deal, of how inflated expectations in still-hot-but-cooling Canadian markets such as the GTA are causing home sellers to miss out on otherwise profitable exchanges. As Golfi recalled the Hamilton case in an interview recently, the property in question remained unsold.”

“‘Many [sellers] are realizing weeks later that they botched a great offer and regret becoming overly confident and unsatisfied with the offers they declined,’ says Golfi, whose firm, RE/MAX Escarpment Golfi Realty Inc., is a leading brokerage in the territory stretching from Halton Region to Niagara. He adds, ‘It’s difficult for sellers to understand that we are now in an adjustment phase.'”

“The trouble, according to some realtors and industry experts, is that many current sellers don’t seem to have gotten the memo. ‘Seller expectations are being impacted by how things were in previous months,’ Golfi says, adding that many homeowners are resisting the coaching of their agents in favour of unreliable anecdotal evidence. ‘They’re listening to their friends and family and not listening to the realtor. They’re seeing what their neighbours got for their homes in March and April and they’re saying, ‘I want that. I want more than that. My home is worth what they got if not more.'”

“‘But those deals,’ Golfi continues, ‘were sealed months ago. And what happened in March and April was far more supercharged than even the spring boom of 2017.'”

“Peer pressure aside, David Schooley cites another reason for why a seller might reject a good offer for an elusive better one. ‘I hate to use the word greed, but that’s what it often comes down to,’ says the Kitchener-based broker, who also sits on the board of directors of the Real Estate Council of Ontario. ‘People paid some pretty ridiculous prices for homes in the spring, as they did in 2017, so that fear of missing out [among sellers now] is a powerful thing to get over.'”

“Golfi agrees, noting that the gradual decline in home prices since the springtime peak has less to do with the typical summer real estate lull than a return to more realistic valuations. But as he also notes, ‘some sellers are stubborn. Even now, as we’re starting to get back to normal conditions, they’ll insist that we list their houses [at] overprice [rates]. As those listings just sit there, they’ll eventually have the realization that they’re not going to get the number they want, tha they’re throwing away good offers that won’t come again. But they often have to learn it through harsh reality.'”

“Anyone selling now would be wise to consider that old saying about a bird in the hand. Those who continue to overreach when it comes to valuations may find themselves reaching too far for their own good.”

This Post Has 144 Comments
  1. ‘I hate to use the word greed, but that’s what it often comes down to’

    As I was scrolling down this article I asked myself, will they say the G word?

    1. Ben / thank you so very much for your updates! Unfortunately, here in Cali homes are still selling extremely fast, and prices are moving higher. No slowdown here at all. Under the cover of delta, gamma, theta, zeta, beta, cold weather snd not weather all of the moratoriums for rent and mortgage foreclosures will of course keep getting extended. Interest rates have actually moved lower as the FED is all in at zero rates foreva. Unfortunately I just do not see a slowdown let alone a crash with all the government intervention. “There is nothing more permanent than a tempirary government program” – Ronald Reagan. Any Thoughts on where this insane market is going? Thx again!

      1. So Ben posts daily stories of bubbles popping everywhere, including CA, and you post that prices are still going up, that you “unfortunately just do not see a slowdown let alone a crash,” and then ask him for his thoughts as if you’ve ignored everything he has been posting for years? I think you are on the wrong site REALTWHORE.

      2. Would the oligarchs still be able to sustain “insane” housing prices and the stock market “highs” during a Civil War?

        Would the oligarchs even survive?

        All great empires eventually fail:
        https://www.washingtonpost.com/dc-md-va/2021/08/10/census-race-population-changes-redistricting/

        My father loved reading about history and he shared those books with me as I grew up. I would constantly ask him how the people (that I read about in those books who had created rich, dynamic and advanced cultures) could ignore the quite obvious consequences of decisions or inactions that would eventually lead to their ruination.

        Read the Post comment section. The majority posting there are celebrating the headline.

      3. There’s a large increase in homes for sale in my neck of the woods. East of Sacto. And in all price ranges. More homes sitting. More price reductions too.
        Love it!!

  2. ‘they bought a home near Cherry Hills Village for less than 10 percent more than asking price. ‘We ended up in our dream home…I keep saying it every day, ‘I can’t believe we got this place’

    It’s all yers CJ.

  3. ‘People paid some pretty ridiculous prices for homes in the spring, as they did in 2017′

    The winnahs!

    ‘so that fear of missing out [among sellers now] is a powerful thing to get over’

    Oh dear…

  4. ‘So, while the inventory was really low in the beginning of the year, we’re seeing a much greater increase each week’

    Harry Potter is flying across the country in his reindeer sleigh, “more shack there, and there!” Yet the REIC is oddly silent on their recent horsesh$t about a shortage.

    1. ‘So, while the inventory was really low in the beginning of the year, we’re seeing a much greater increase each week’

      – It’s been a lot like musical chairs in the housing market. Now the music is stopping and everyone is trying to find a seat. The seat in this case being speculators actually selling at the peak. The party was fun while the music was playing (liquidity from the Fed), but there’s always a reckoning, since “trees don’t grow to the sky,” and “to the moon” prices inevitably return to Earth, since economic gravity.

      “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing.” – Chuck Prince, former chairman and CEO of Citigroup (told to the Financial Times on July 10, 2007).

      – A bunch of speculators holding onto their “investments” are effectively removing inventory from the market. How many owner-unoccupied, empty shacks are out there? As someone famous once said: “Shadow inventory is a conspiracy theory.” Now sensing that the worm has turned, they’re suddenly trying to sell at the peak and unload essentially all at the same time. This is like someone yelling “fire!” in a crowded theater. Not everyone is going to get out through the exit at the same time. This is classic speculative bubble behavior. Prospective buyers also sensing the obvious sea change in the markets aren’t wanting to catch a falling knife either. Hence, inventory goes up, magically, since there was a “shortage” just a moment before. Of course the REIC/UHS cartel pretends to be clueless.

      “It is difficult to get a man to understand something when his salary depends on his not understanding it.” – Upton Sinclair

      – BTW, there’s also a record number of Realtors now. All the signs of a peak are in.

      – House price declines follow sales declines. With speculators bailing out (i.e. listing properties) and inventory commensurately rising, we’re there. Now add an “unexpected” decline in stonks this Fall (my wager) and the housing price declines will only accelerate, since stonks and housing prices are highly correlated. This should be interesting: Dot com bubble + housing bubble 1.0 together as “The Everything Bubble.” I’m sure it will be fine. Heck of a way to run an economy; from bubble to bubble, and with increasing magnitude, since debt must keep increasing to keep the Ponzi scheme going. I don’t think there can be another bubble after this, so all of the talk about “The Great Reset” has some merit, IMHO.

  5. ‘the rental housing provider doesn’t have any way to go ahead and collect that money so [landlords are] left holding the bag’

    There’s crowz in that bag Thornberg…

  6. ‘We are seeing price reductions in some areas. Those have increased quite a bit’

    Note how fast this can change. I bet even a month ago this same paper was singing the red hotcakes tune.

    1. Note how fast this can change.

      Yep. And the statistics are always a lagging indicator. My favorite massive crash happening right this moment is in used car prices. Manheim auction prices are down 3% month over month. That’s a 36% annual decline, assuming prices don’t start dropping more than 3% per month.

  7. Never mind that the 2007-2009 financial collapse was led by a housing bust. Central bankers assure us that housing price instability is of little concern.

    1. This is why I think the deranged FED is continuing to buy MBS. They know a crash is coming so this time they are just going to buy them all the way up, through and past the bust. These fools are focking everything up so bad they should be shot.

  8. The Financial Times
    House prices: Raising the roof
    FT Series Global house prices: Raising the roof
    Global Economy
    Why central bankers keep their cool over rising house prices
    Soaring cost of home ownership has little effect on official inflation
    Chris Giles in London August 11 2021
    House prices are rising in many major economies. This FT series explores whether these increases are sustainable.

    Inflation-obsessed central bankers are growing sympathetic to the plight of millions of buyers squeezed out of property markets by soaring house prices. Taking action, however, is another matter.

    Janet Yellen, US Treasury secretary, spoke last month of her concern over “the pressures that higher housing prices will create for families that are first-time homebuyers or have less income”.

    She followed European Central Bank president Christine Lagarde, who acknowledged in June that “the disconnect between housing prices and broader economic developments during the pandemic entails the risk of price corrections”.

    But because house prices are not directly included in the headline inflation measures that shape central banks’ mandate in advanced economies, those institutions are not required to seek to quell prices when they rise.

    They have a mandate to maintain financial stability, but most do not see the housing market as a prime source of risk. Economists also cite statistical reasons for keeping house prices out of inflation measures.

    1. “Inflation-obsessed [creating] central bankers are growing [un]sympathetic to the plight of millions of buyers squeezed out of property markets by soaring house prices. Taking action, however, is another matter.” [There! fixed it for you!]

      – The arsonist in charge of the fire brigade.
      – The Fed is no more a government ag’cy. than FedEx. The Fed represents capital, Wall St., and the banking cartel. Labor and Main St., not so much. Know your place, peasant!
      – The Fed is unelected and unaccountable to the American people, but they’ve become a Fourth Branch of government thanks to our corrupt, self-enriching Congress looking the other way. Their policies enable both Socialist government policies and the strip-mining the wealth of the 99%, or what’s left of it, but I repeat myself. They’re not your friend.

      “Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.” – James A. Garfield

      “The last duty of a central banker is to tell the public the truth.” – Alan Blinder, former Vice Chairman of the Federal Reserve, 1994 on the PBS Nightly Business Report

      “I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. … You are a den of vipers and thieves.” – Andrew Jackson, 1834, on closing the Second Bank of the United States; (unabridged form, extended citation)

      “The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” – Lord Acton

      “And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that. All power corrupts; absolute power corrupts absolutely.” – Lord Acton

      “When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.” – Frederic Bastiat

      “People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.” – John Kenneth Galbraith

    2. Janet Yellen, US Treasury secretary, spoke last month of her concern over “the pressures that higher housing prices will create for families that are first-time homebuyers or have less income”.

      Now that’s fockin’ rich right there. This is the same old troll-faced hag who said to “go big” on the money-printing.

  9. Making children wear masks in the classroom is ‘child abuse’: Report in Ireland says it can worsen existing health issues, stunt language skills and cause psychological harm

    https://www.dailymail.co.uk/news/article-9887207/Making-children-wear-masks-classroom-child-abuse.html

    Making children wear masks in the classroom can stunt language skills and exacerbate anxiety, a health report commissioned by the Irish government has found.

    The Health Information and Quality Authority’s report published in March informed Dublin’s decision not to mandate masks for children in elementary schools.

    1. NJ Governor Ex Order # 251
      When the individual is under two (2) years of age;
      e. When the individual is engaged in activity that
      cannot physically be performed while wearing a
      mask, such as eating or drinking, or playing a
      musical instrument that would be obstructed by a
      face mask;
      f. When the individual is engaged in high-intensity
      aerobic or anaerobic activity;
      g. When a student is participating in high-intensity
      physical activities during a physical education
      class in a well-ventilated location and able to
      maintain a physical distance of six feet from all
      other individuals; or
      h. When wearing a face mask creates an unsafe
      condition in which to operate equipment or execute
      a task. The Health Information and Quality Authority’s report published in March informed Dublin’s decision not to mandate m

  10. Let he who has never lost a laptop to Russian drug dealers after overdosing on drugs while partying with prostitutes cast the first stone.

    ‘The Russians have videos of me doing crazy f***ing sex!’ Hunter Biden is seen in unearthed footage telling prostitute that Russian drug dealers stole ANOTHER of his laptops

    https://www.dailymail.co.uk/news/article-9881213/Unearthed-video-shows-naked-Hunter-Biden-claiming-Russian-drug-dealers-stole-laptop.html

    Hunter Biden claimed Russians stole another one of his laptops for blackmail while he was close to overdosing in a Las Vegas hotel room, DailyMail.com can reveal.

    The alleged incident would mean Hunter lost a total of three computers – the first abandoned at a Delaware computer store and the second seized by federal agents – each likely to hold sensitive information on President Joe Biden and the embarrassing pictures, videos and communications of his son.

    1. This is the one area that feel sorry for Joe Biden. He was a real family man but had incredible losses in his family. He lost his first wife and infant daughter in a car accident. His two sons survived, but the “better” son Beau died young. We’re left with Hunter, who seems like a ne’er do well from the start. I’m sure this is driving the failure in Joe’s faculties. The should never have allowed him to rise this far.

        1. I hate that treasonous, criminally corrupt, arrogant and to ugly to watch piece of trash called Biden .
          I would love to see his eyes poked out on National TV. Bad bad bad to the bone.

      1. Nooope. He was always an idiot. Exaggerating his academic record. Plagiarizing speeches. Adultery. Aggression toward citizens.

        The first time I heard about him was when he got his first plugs (a very vain and unusual thing for a man to do back in those days.) For starters:

        Death and the All-American Boy・Kitty Kelley, June 1, 1974
        Joe Biden was a lot more careful around the press after this 1974 profile.
        https://www.washingtonian.com/1974/06/01/joe-biden-kitty-kelley-1974-profile-death-and-the-all-american-boy/

        There’s lots more. The Kwame Brown/Judge Joe Brown interview (calls Joe racist). The neilabiden.com website (a little weird, but…)

        A real family man. Ask Ashley. I always forget the pedophilia, don’t like to think about it. No govt officials’ kid goes unmolested 🤬

        1. No sympathy. Who would impugn an innocent truck driver and slander him for years? Who talks about his dead wife’s great body 🤮 ? I think Joe’s 10% human; he has the depth of a puddle. Even as president, he’s constantly looking for people to suck up to.

          People in power succeed due to their utter lack of shame.

    1. +1 for posting Bitchute links.

      The censorship and ban hammer has been coming down hard lately on all corporate websites. YouTube blocking Rand Paul, Reddit quarantining the NoNewNormal sub, et cetera.

  11. Tallahassee, FL Housing Prices Crater 15% As Residential Real Estate Rot Ravages US Housing Market

    https://www.movoto.com/fl/32309/market-trends/

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

  12. Has the housing market run out of greater fools yet who pat themselves on the back for overpaying on a house purchase?

    “So they did. After putting in two offers and being outbid, the couple finally landed a home on their third try. The Bathgate’s said they bought a home near Cherry Hills Village for less than 10 percent more than asking price. ‘We ended up in our dream home,’ CJ says. ‘I keep saying it every day, ‘I can’t believe we got this place.’”

  13. It’s been a number of years since I was here. Figured we’d provide an update: multifamily we bought in 2004 is finally up for sale. It’s been an interesting ride, watching the value go up through 2007, down through 2010, recover and surpass the high of 2007 in 2020 and then continue to climb. Today, we’re looking at selling at $500k+ what we acquired (at a too-high premium at the time) for $330k.

    From a pure return perspective, I think we would have been better off buying an SFH in an upscale community as price appreciation has been significantly higher than in multis. However, from a cash-flow perspective, the multi has worked well for us, grossing us an extra $25-30k/yr and providing significant tax deductions/depreciation. We’ve probably sunk $50k into the property over the years in maintenance and rehab which detracts a bit from the return.

    We’re selling, locking in our gains and moving back in with my folks for a year or two while we wait to see what the market does, look for land to build an SFH with in-law for my folks who are retired, etc. They own their SFH outright, but it’s too big for them to maintain in retirement.

    Lessons learned?
    1. Being a landlord sucks, especially when the .gov is on the side of the renters, never mind eviction moritoriums, etc.
    2. Don’t fight the fed, but hedge the crap out of their inflation plans, as that is really their only tool in the toolbox: blow bubbles, bail out, inflate, rinse and repeat.
    3. Last, real estate is a long term game. Go into every purchase with a mindset of having to live there for 10 years (or longer).

    While all real estate is local, it seems it takes 18 years or so between major peaks/declines (using ’90 and ’08 as the data points), so about a generation to forget the lessons of the prior generation. That would put the timing of the next peak some time around ’25/26. No idea if this theory will hold, but it seems as likely as anything else given the Fed’s penchant for bailouts and the inflation currently happening.

      1. I’m not sure… seems too early in the cycle for another real estate crash. It’s 2021… we’re only 13 years past the last peak and crash. The Fed is monetizing and inflation is rampant. If you look at housing price data from the 70’s, housing didn’t drop until ’80 due to the rampant inflation, then another run up to ’90.

        I’m not saying this isn’t the peak, but it doesn’t feel like it to me. I remember thinking back in 2000 that prices were too high after almost a decade of appreciation and it took another 8 years to peak. As I stated above, don’t fight the Fed. The Fed is inflating everything in sight and I don’t see that stopping anytime soon. As long as that is happening, my gut says housing continues to go up in inflated dollars a bit longer before reversing trend.

  14. CJ is reflective of south Denver – housing prices are insane here on the Front Range – period!!!

  15. Two things predictably happen when we go on vacation:
    1) The weather is great.
    2) The stockmarket tanks.

    I don’t have any explanation…it’s just an empirical regularity I’ve noticed over the years.

      1. When is your next vacation?

        Don’t know about PB, but mine is in a few weeks. When people ask me if I’m not afraid to go out, I tell them that my only concern is that there might be a brawl on the airplane and that some will have to be duct taped to their seats.

  16. Today is Thursday, August 12th and Joe Biden is not the legitimately elected president of the United States.

    The 2020 election was stolen.

  17. ‘The extra pressure sort of sped up our timeline a little bit because all these great houses were going so fast,’ CJ says. ‘We needed to act now.’”

    I am going to take great pleasure in watching the financial destruction of sheep and lemmings like these. The idiot quotient in our society is off the charts, and there’s nothing like financial ruin on a grand scale that will impress on the sheeple the consequences of blindly being manipulated.

  18. ‘We ended up in our dream home,’ CJ says. ‘I keep saying it every day, ‘I can’t believe we got this place.’”

    You might have to make some unseemly moral compromises, CJ, if you want to hang on to that insanely overpriced shack after the Fed’s Everything Bubble bursts.

      1. They must be zombies, then, because per The Narrative, they HAD to have died. This wasn’t a BLM mostly peaceful protest, after all.

  19. Realtors say. ‘We are still seeing multiple offers on homes, but we’re not seeing quite as many,’ said Eric Johnson, president of the Spokane Association of Realtors. ‘We are seeing price reductions in some areas. Those have increased quite a bit. I think that’s partly because people are expecting 15 offers in the first two days (the home is on the market) and they aren’t getting any offers and are panicking.’”

    Why reduce price if you are still getting multiple offers??? Don’t you just need one offer? Somebody is lying here.

  20. https://ktla.com/news/local-news/l-a-city-council-votes-to-have-city-attorney-draft-ordinance-requiring-proof-of-covid-vaccine-indoors-at-restaurants-gyms/

    “COVID-19 hospitalization numbers throughout L.A. County continue to climb, and health officials say it’s mostly unvaccinated people who are ending up seriously ill.

    Only about 0.009% of all fully vaccinated people in L.A. County ended up hospitalized for COVID-19, according to the L.A. County department of Public Health.”

    OK whats the problem? If you are vaccinated, then you should be safe! Why force people to vaccinate?

    1. Because, while the vaxxed are getting headaches and stuffy noses at home, the unvaxxed are filling up the ICUs.

        1. In Virginia,
          7951 hospitalizations were unvaccinated people
          218 hospitalizations were fully vaccinated people.

          In Maryland (approximate),
          12,000 hospitalizations were unvaccinated people
          516 hospitalizations were fully vaccinated people.

          What narrative would you write for this data?

          1. https://sanfrancisco.cbslocal.com/2021/07/15/covid-homeless-shelter-outbreak-sam-jones-hall-santa-rosa/

            “At least 59 residents at a homeless shelter in Northern California have tested positive for the coronavirus, half of whom were vaccinated, health officials said.

            Of those infected at the shelter in Santa Rosa, 28 were fully vaccinated, Dr. Sundari Mase, Sonoma County’s health officer, said Wednesday. Another 26 possible positive cases were being reviewed by officials.”

          2. Source

            Her sources are behind the curve. Countries with high vaccination rates prove she’s wrong. Meanwhile, it’s come out that Dr. Malone is risking a Nobel Prize for speaking out, but oxide thinks he’s just “some ‘consultant.'”

          3. What narrative would you write for this data?

            Get vaxxed, or you will die a horrible death!

            It would be nice if they were consistent with their fake numbers. It wasn’t too long ago that there were officially NO vaxxed people in the hospital. Before pivoting, the Narrative was that the vaxxed only got the sniffles.

          4. Meanwhile, it’s come out that Dr. Malone is risking a Nobel Prize for speaking out

            I’m sure he can kiss it goodbye.

          5. What narrative would you write for this data?

            We don’t see it here, so it’s not happening elsewhere.

          6. https:// twitter.com/ RWMaloneMD/ status/ 1425887820661538823:
            I was very aware of this risk and discussed it with Bret and Steve right before the infamous Dark Horse podcast, indicating that the stakes were too high to worry about a Prize when trying to save the lives and health of our children. This was a conscious decision to take risk.

          7. Your data is very misleading by design

            “519 cases hospitalized, representing 4.3% of all COVID-19 cases hospitalized”

            It doesn’t say when the data was collected. For example, 11,000 of the unvaccinated hospitalized cases could be before 2021 when the vaccines were not available. It doesn’t mean right now, there are 12,000 ICU beds taken by these evil unvaxxed folks.

            I used to live in MD and the population is like 1/10 of CA where I live now. Even with the “surge” in cases, the number of hospitalized is still low and the ratio is 4 – 1.

            https://www.msn.com/en-us/news/us/covid-19-hospitalizations-rise-sharply-across-southern-california-as-surge-continues/ar-AAN7Urn

            “Hospitalizations shot up from 239 on July 26 to 484 on Sunday in San Diego County, and have also at least doubled over the last 15 days in Riverside, San Bernardino and Ventura counties.

            Southern California isn’t an outlier. Across the nine-county San Francisco Bay Area, there were a combined 436 COVID-19 patients hospitalized on July 22. By Sunday, there were 881.

            Similarly, in Sacramento County, hospitalizations doubled from 148 on July 24 to 315 on Sunday. In Fresno County, they doubled from 100 on July 28 to 214 on Sunday.”

            “The hardest-hit counties are in and around the Central Valley, including Sacramento, Fresno, San Joaquin, Stanislaus, Solano, Placer, Butte, Kings, Nevada, Yuba, Tuolumne and Amador counties, as well as Lake and Del Norte counties in Northern California.

            Some experts have said that when COVID-19 hospitalizations exceed 5 hospitalizations for every 100,000 residents, that’s a time to consider returning to universal masking.

            The most populated Southern California counties have more than doubled or tripled that threshold, with Ventura County reporting 12 hospitalizations for every 100,000 residents; Orange County, 14; Los Angeles and San Diego counties, 15; Riverside County, 18; and San Bernardino County, 19.”

            So you’re full of shit with this fearmongering.

          8. Countries with high vaccination rates prove she’s wrong.

            Yeah, this misleading stat is tough to explain. So let’s do a numbers thought experiment.

            Simplified example:
            We have a vaccine with 80% protection. That is, if you are not vaxxed, you have 10% chance of going to the hospital. If you are vaxxed, you have 2% chance of going to the hospital.

            T=0
            1000 people, nobody is vaxxed. We would see:
            Unvax: 100
            Vax breakthrough: 0
            Total: 100
            % patient vax breakthrough: 0%

            T=1 month: Let’s assume the cases resolve, the hospital is empty, and 250 people get vaxxed.
            1000 people: 250 vax and 750 unvax. We would see:
            Unvax: 75
            Vax breakthrough: 5
            Total: 80
            % patient vax breakthrough: 6.25%

            T=2 months: Again, clear the hospital, and 250 more people are vaxxed:
            500 vax, 500 unvax. You would see:
            unvax: 50
            vax breakthrough 10
            Total: 60
            % vax breakthrough: 16.6%

            t=3 months: Again clear the hospital, and 250 more people get vaxxed.
            250 unvax, 750 vax. We would see:
            Unvax: 25
            vax breakthrough: 15
            Total: 40
            % vax breakthrough: 37.5%

            t=4 months. One last time. Clear the hospital, and the remaining 250 get vaxxed.
            1000 vax. We would see
            Unvax: 0
            Vax breakthrough: 20
            Total 20
            % vax breakthrough: 100%

            Trends:
            It’s a simplified example, but you get the idea. As more people are vaxxed, YES, the fraction of breakthrough hospitalizations increases: 0%, 6.25%, 16.6%, 37.5%, 100%. Antivaxxers love this stat because it makes the vax look bad. But this stat is false and misleading. The TOTAL number of hospitalizations has decreased: 100, 80, 60, 40, 20. That frees up the ICUs. And, antivaxxer conveniently forget that the hospitalization rate is the same 2% for vax compared to 10% for unvax. Yup, look at all those people who would have gone to the hospital, but didn’t have to because they were vaxxed. Antivaxxers ignore them too.

          9. It doesn’t say when the data was collected.

            “Maryland’s first post-vaccination infection was identified on January 26, 2021. The information below reflects cases tested from January 26 – August 8, 2021.”

            If you’re going to demand a source, the least you can do is grant me the courtesy of reading it. It’s even in big print just for you. 🙄

          10. The question, of course, is whether or not we trust the numbers the government is publishing.

            I know I don’t. Not for a second. What they want to do to us is very evident.

          11. Your data is very misleading by design. I used to live in MD and the population is like 1/10 of CA where I live now.

            California population: 39.5 million
            Maryland population: 6.05 million
            Doesn’t look like 10% to me.

            Over what amount of time were these California hospitalizations recorded? And is there a breakdown for vax vs. unvax?

          12. The question, of course, is whether or not we trust

            We’ve been lied to since January 2020 about anything and everything COVID related. I don’t even trust the numbers coming out of Israel, but they’re the best we’ve got for anticipating where we’re headed.

          13. We’ve been lied to since January 2020

            Exactly. And I’m not getting the jab for a $100 Walmart gift card.

          14. The evolving narrative (not mine):

            Vaccines are to protect you and your friends and family from getting and spreading covid!
            … They are to protect YOU from serious symptoms
            … They are to protect you from going to the hospital
            … They are to prevent death
            … They are to protect you from *worse than death*

            You have to get vaccinated to protect your friends and family… but you can still catch and spread covid vaccinated, so please get weekly tested!

          15. They are to protect you from *worse than death*

            https:// twitter.com/ AlexBerenson/ status/ 1425811441156767750/ photo/ 1 (embedded photo, emphasis added, original source has since been modified):

            A woman’s fully vaccinated father died from COVID-19.

            Doctors said the condition of the father could have been worse if he was not vaccinated.

            The father was mostly indoors and wore a mask, his surviving daughter said.

          16. Even my very pro-vax friend, who works in a major hospital in NYC, sounds like she’s wavering. She was always encouraging me to do it, with what she was seeing there last fall. Now, not so much.

  21. Oregon students can now graduate high school without being able to read or do math

    Angela Morabito | Higher Education Fellow and Spokeswoman
    Wednesday, August 11, 2021 3:40 PM

    This school year, Oregon high school seniors who cannot read or do math will still be allowed to graduate in accordance with a new law that suspends key academic graduation requirements.

    According to Senate Bill 744, signed by Gov. Kate Brown without any announcement last month, states that “a student may not be required to show proficiency in Essential Learning Skills as a condition of receiving a high school diploma” through the next three school years.

    The move follows Oregon State University and the University of Oregon going “test-optional” last year, meaning that applicants to those schools are not required to submit SAT or ACT scores.

    Oregon students aren’t alone.

    Thousands of American students will encounter declining academic standards when they return to school this fall.

    https://campusreform.org/article?id=17964

    1. Oregon students can now graduate high school without being able to read or do math

      A steady flow into the pool of the unemployable and future UBI recipients.

      1. “A steady flow into the pool of the unemployable and future UBI recipients.”

        Yep.

        Fortunately, it’s illegal to pump your own gasoline in Oregon, so there are a few job opportunities available, and the forest does a good job of keeping the toothless, single-wide families out of sight, out of mind for those motorists passing through.

        1. In other news, the Asian kid whom I have been tutoring in college level mathematics for several years is enrolled as a freshman at a local community college this fall, since all of his UC applications were rejected. With his 5s (top possible scores) on the AP calculus and statistics exams, plus general brilliance in mathematics, he would have been admitted to a UC in a heartbeat if he satisfied a diversity and inclusion criterion.

          1. I have to say, if I was Asian, I would be even more ticked off than I am now.

            Why stay in California? As the Nomad Capitalist (a youtuber) says: Go where you are treated best.

          2. I’ve known more Asian American college bound students than I can count. The vast majority applied to and were accepted at UC campuses. UCLA, UCI, UC San Diego, UC Berkeley, UC Davis, UCSB and even lowly ole UC Reject (Riverside). Down here in So Cal, UCI is probably the most popular campus being just down the street from the large Asian population in O.C. The wife of a relative graduated from UCI–she called it the University of Civics and Integras! OUCH! Go down to OC and you’ll see what that means.

            I haven’t hear of any Asian kid with good test scores and GPAs not getting into a UC if that’s all they were applying to–they might not have gotten their top choice, but they made it into one of their alternate campuses. Not all the Asian kids applied to or were accepted at a UC–many ended up Cal Poly (San Luis Obispo, Pomona, excellent engineering departments), Long Beach and Northridge.

            Even with the increased competition and anti-Asian admission policies at the UC, it’s impossible to stem the tide of Asian students. So I don’t know what went wrong with your student. Getting into a second tier UC like UC Riverside has never been very difficult. But given a choice, one of the better Cal State schools are a superior option and graduates from places like Cal Poly Pomona and Long Beach compete very well against UC graduates. The son of my brother’s best friend attended Cal Poly Pomona in engineering. He had multiple offers and ended up with an excellent position at Boeing. That’s not atypical.

            It’s better to graduate from a good Cal State school with an 3.5 average than it is to graduate from UCLA with a 2.75. Or the other very popular route is to get your bachelor’s at a Cal State and go to graduate school at UC. That’s what I did–went to CSUN and then to graduate school at UCLA. I know scores of people who went this route.

            These days attending graduate school is almost an imperative in many fields, and nobody cares where you got your bachelors. In this country the most important school you attended was the LAST one you graduated from. In places like Japan or China, the most important school is the FIRST college you graduated from.

            So tell you student to ACE all of his courses and transfer. Entry to even the best UC grad school isn’t hard starting out at a junior college or Cal State.

          3. So I don’t know what went wrong with your student.

            There are only so many seats at UC. Stories of straight A kids not getting in are not new. I’m sure that many are going to State (where some schools are better than others).

      2. My Lil Sis is retiring after thirty years of teaching community college maths. One reason she is happy to leave is that her school’s administration has decided it’s the teacher’s fault if students don’t study, cheat on all the homework assignments, and fail the final exam. The proposed remedy is to lower the pass bar in order to enable students who didn’t master the material to pass the course, en route to becoming either an incompetent member of the American workforce or a permanent UBI recipient.

        1. Way back in the stone age I was a math tutor at Mesa College in San Diego. Even back then, almost all the students tried to get me to do their homework for them. And a lot of them were Vietnamese. When we were hired, we we warned about this. Once word got out that you wouldn’t do their homework for them, students wouldn’t sign up for tutoring with you. After one semester I quit.

          1. How did these students do on the exams? Even if they did find a tutor to do the homework for them, that doesn’t help when they take the exams.

          2. How did these students do on the exams?

            I’m gonna guess that they knew how to game the system. Here’s my guess: get A’s in the homework, C’s in the tests, pass with a B.

          3. You must have had the dumb Vietnamese students then. BTW, what were you doing at such a prestigious institution?

            One of my physicians is from Vietnam–her family fled South Vietnam when she was a baby and ended up in a refugee camp in Malaysia. They eventually got to America and were housed at Camp Pendleton refugee camp. They settled in Orange County, California. Nobody in my doctor’s family had ever been to high school or spoke English.

            My physician went on to graduate from high school, graduated from UCLA and then attended UCLA Medical School where she got her MD degree. In the lab I worked in we had a Vietnamese-American clinical fellow–her family fled South Vietnam as well and settled somewhere on the East Coast. Her dad got into trouble when he killed a couple of ducks in a pond in their town–he made dinner with them. Nobody told him that it was illegal to kill wild ducks.

            Anyways, this clinical fellow went to school back east and graduated from the University of Pittsburgh Medical School. She buys her ducks at the supermarket.

            Over the years I’ve noticed that all of the white guys working at the muffler shops I’ve been to never attended UCLA or even junior college. They had names like “Mike” or “Tex”. My guess is that they didn’t take calculus in high school. I don’t want to make sweeping generalizations about white muffler shop guys since they could’ve been practicing orthopedic surgeons who were just moonlighting at the muffler shop. You never know…

          4. BTW, what were you doing at such a prestigious institution?

            I wasn’t a student at Mesa. I was a tutor. The job was posted at my school.

            Anyway, every single one of my Vietnamese students wanted me to do their homework for them. And they were the bulk of the students who came to the tutoring center. Why? Beats me.

            Keep in mind that I’m not saying all Vietnamese students were cheaters. I’m sure the ones smart enough to do their own work didn’t come to the tutoring canter.

  22. Remember when the military was there to defend sovereign nation-states and their people, rather than serving as armed enforcers for globalist Quisling regimes? Neither do I.

    MORE TROOPS TO BE DEPLOYED AGAINST THE PEOPLE IN SYDNEY, AUSTRALIA AFTER ONE NEW CASE OF COVID POPS UP

    https://www.shtfplan.com/headline-news/more-troops-to-be-deployed-against-the-people-in-sydney-australia-after-one-new-case-of-covid-pops-up

    The police state is descending rapidly upon Australia. More troops will be deployed to the streets to enforce the tyrannical and draconian control of the slaves after one case of COVID-19 pops up.

    Lockdown violators will be facing a mounting police state and utter enslavement as the ruling class rolls out their hired thugs to keep people from violating its dictates.

    1. I wonder how many Aussie Olympians chose to not return home after the games ended?

      Australians requesting asylum. Who woulda thunk?

        1. The theory is that the vaccines are losing effectiveness because the two shots are being administered too close together

          You mean they haven’t already?

    2. October 5, 2017
      SYDNEY (Reuters) – Australians turned in 51,000 illegal firearms, ranging from 19th-century weapons to a rocket launcher, during a three-month amnesty that ended on Friday, and which Prime Minister Malcolm Turnbull said had helped avert Las Vegas-style mass shootings.

      The cache, representing about a fifth of illegal firearms, was collected during Australia’s second amnesty since its worst ever massacre, when a lone gunman killed 35 people in the island state of Tasmania in 1996.

      The firearms gathered in this year’s amnesty will be destroyed. Those who still own such guns face jail time, and the government is pushing for harsher penalties for gun traffickers.

      https://www.reuters.com/article/us-australia-guns-idUSKBN1CB06I

  23. Why does the stock market keep hitting new highs?

    Because the bull market is unstoppable.

    Why is the bull market unstoppable?

    Because the stock market keeps hitting new highs.

    1. Why does the stock market keep hitting new highs?

      Because the money printing machine goes brrrrrrt?

  24. https:// www. geertvandenbossche. org/ post/ c-19-pandemia-quo-vadis-homo-sapiens (1h ago, emphasis added in bold):

    The WHO’s mass vaccination program has been installed in response to a public health emergency of international concern. As of the early days of the mass vaccination campaigns, at least a few experts have been warning against the catastrophic impact such a program could have on global and individual health. Mass vaccination in the middle of a pandemic is prone to promoting selection and adaptation of immune escape variants that are featured by increasing infectiousness and resistance to spike protein (S)-directed antibodies (Abs), thereby diminishing protection in vaccinees and threatening the unvaccinated. This already explains why the WHO’s mass vaccination program is not only unable to generate herd immunity (HI) but even leads to substantial erosion of the population’s immune protective capacity. As the ongoing universal mass vaccination program will soon promote dominant propagation of highly infectious, neutralization escape mutants (i.e., so-called ‘S Ab-resistantvariants’), naturally acquired, or vaccinal neutralizing Abs, will, indeed, no longer offer any protection to immunized individuals whereas high infectious pressure will continue to suppress the innate immune defense system of the nonvaccinated. This is to say that every further increase in vaccine coverage rates will further contribute to forcing the virus into resistance to neutralizing, S-specific Abs. Increased viral infectivity, combined with evasion from antiviral immunity, will inevitably result in an additional toll taken on human health and human lives. Immediate action needs, therefore, to be taken in order to dramatically reduce viral infectivity rates and to prevent selected immune escape variants from rapidly spreading through the entire population, whether vaccinated or not. This first critical step can only be achieved by calling an immediate halt to the mass vaccination program and replacing it by widespread use of antiviral chemoprophylactics while dedicating massive public health resources to scaling early multidrug treaments of Covid-19 disease.

    1. Jerome Powell assures us that inflation is “low” and “transitory.” So those skyrocketing shipping costs and supply chain disruptions shouldn’t matter.

  25. While the CDC is telling ‘Muricans to wear masks and take the jab, the Biden Administration is flying and busing illegal alien COVID-19 vectors to every red state.

    Forty percent of migrants released in Texas border city test positive for COVID-19, officials say

    https://www.washingtonexaminer.com/news/texas-city-officials-40-of-migrants-test-positive-for-covid-19

    AUSTIN, Texas — The city of Laredo, Texas, has refused to take in migrants who have been bused in from elsewhere on the border after discovering 40% of them tested positive for the coronavirus, according to two local government officials.

    “That was very high,” Laredo Mayor Pete Saenz said in an interview, referring to the infection rate among migrants dropped off by the Border Patrol last week. Laredo health authority, Dr. Victor Trevino, confirmed the numbers.

      1. I was asking about the kill rate.

        But it looks like the Israeli phenom is happening in Minnesota and Florida too. The theory is that the vaccines are losing effectiveness because the two shots are being administered too close together. UK gave their shots 3 months apart and they don’t seem to be having this issue.

        Meanwhile, J&J is doing ok in South Africa. It’s not spectacular, but it’s not decreasing. Data is very prelim so it could still go bust.

  26. https://www.journalofinfection.com/article/S0163-4453(21)00392-3/fulltext:

    Highlights
    • Infection-enhancing antibodies have been detected in symptomatic Covid-19
    • Antibody dependent enhancement (ADE) is a potential concern for vaccines
    • Enhancing antibodies recognize both the Wuhan strain and Delta variants
    • ADE of Delta variants is a potential risk for current vaccines
    • Vaccine formulations lacking ADE epitope are suggested

    From the Abstract: [I]n the case of the Delta variant, neutralizing antibodies have a decreased affinity for the spike protein, whereas facilitating antibodies display a strikingly increased affinity.

    1. Antibody-dependent enhancement (ADE) is why we haven’t had coronavirus vaccines until now. It’s the #1 safety concern.

      1. There isn’t just one type of neutralizing antibody; there’s a whole panel on antibodies, with each type specifically tailored toward a different piece of the spike protein. The paper you cite concentrates on ONE of those antibodies. Even if that one antibody displays more affinity, it is overwhelmed by antibodies which neutralize properly. There’s always one rebel, I guess.

        The paper appears to be very early work that is not inconsistent with existing data, but hasn’t borne out in clinical studies. The authors are careful to frame it as only a potential scenario.

        In the conclusion, the authors recommend re-designing the s-protein in the vaccine to prevent these rebel antibodies from attaching to the spike. That is, “Sure, there might be some ADE from a couple antibodies, but we’ll just design the vaccine to prevent it.”

        Oh, wait, the authors are pro-vaccine?

        btw for lurkers, here’s a plain-language primer on ADE: https://davidson.weizmann.ac.il/en/online/reasonabledoubt/ade-and-corona-vaccines

        1. There isn’t just one type of neutralizing antibody; there’s a whole panel on antibodies, with each type specifically tailored toward a different piece of the spike protein.

          And this is why your “vaccine” immunity is inferior to natural immunity. I don’t need you of all people lecturing me on the immune system. Unlike your year of Google research, I have decades of working with these biotechnologies.

          1. If a lurker were to read your comment without knowing there is a panel of many different antibodies, they would potentially be led to believe that there’s a single antibody, that the single antibody is causing ADE, and that the sky is falling. Of course they would think that. Your comment was biased toward that intention.

            My answer merely provided extra context, from the same paper, so that anyone reading it would have a more complete picture before making a decision. If that pushes your buttons, I’m gonna buy some 🍿.

            I for one am eager for all of the unvaccinated to experience this superior natural immunity for themselves. This whole mess would be over faster.

  27. Washington Post’s Jennifer Rubin Celebrates Demographic Decline of White Americans as “Fabulous News”

    Paul Joseph Watson
    August 12th 2021, 4:39 pm

    Washington Post journalist Jennifer Rubin celebrated the fact that the white population in America has fallen for the first time since 1790 as “fabulous news.”

    “New U.S. census data released on Thursday show the white population declined for the first time in history last decade, with significant increases among people who identify as multi-racial, Hispanic and Asian driving much of the population growth between 2010 and 2020,” reports Reuters.

    Jennifer ‘pro-voting’ Rubin
    @JRubinBlogger
    a more diverse, more inclusive society. this is fabulous news. now we need to prevent minority White rule.

    As Chris Menahan notes, Rubin had previously enthusiastically shared a tweet by fellow WaPo columnist Max Boot which asserted that the Trump era “will be seen as a sad last gasp of white resistance” and that “hard-working Latin American” illegal immigrants should replace “contemptible Republican cowards” in order to “enhance America’s greatness.”

    “A few decades from now, when the entire country is majority-minority, the Trump era will be seen as a sad last gasp of white resistance — a reprehensible episode that will be recounted alongside the McCarthy era, the internment of citizens and noncitizens of Japanese descent during World War II, and the Palmer Raids,” Boot said.

    https://www.infowars.com/posts/washington-posts-jennifer-rubin-celebrates-demographic-decline-of-white-americans-as-fabulous-news/

    1. “Rubin was a conservative, but she has also stated that the term has been “ruined” by pro-Trump conservatives and that she would “prefer to be a 19th century liberal or a wet Tory.”” —wiki

      1. yes, she’s great and fortunately, she’s not alone. more and more parents are finding out these traitors have invaded and taken over our schools. now the kids need to be deprogrammed.

        1. She was sent a beautiful compliment about being a candle of light, igniting others but not diminishing.

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