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A Market Value Based On The Greater Fool Syndrome

A weekend topic starting with GM Today in Wisconsin. “While prices and competition amongst buyers are still being driven by the low-supply, high demand market, the intensity of that competition is starting to ebb just a bit, at least across Waukesha, Racine, Ozaukee, Kenosha, Walworth, and Washington counties, where Greater Milwaukee Association of Realtors Realtors work. As for those concerned that there may be a housing bubble, Mike Ruzicka, president of GMAR says those fears are unwarranted. ‘When you look at what is needed to create a bubble, it’s speculation and easy money. There is no speculation. There is inexpensive money with low rates, but to access it you have to be a good risk.'”

The International Business Times. “Home prices across the U.S. increased by roughly 25% year-over-year to an average sale price of approximately USD $386,000. Mortgage rates have also reached record lows. This is because certain protective measures introduced by the government to counteract the catastrophic effects of the deadly virus have provided a ‘blanket of economic security’ for individuals, meaning that they now feel more comfortable purchasing homes- increasing demand and propelling prices significantly.”

“Inventory numbers are also beginning to increase for the first time in several months, but this is unlikely to lead to a significant fall in house prices according to market experts- at least not for quite a while (April 2022). This is because, whilst individuals who have been in the market for a long time are beginning to lose their enthusiasm, the housing industry continues to attract a very large amount of new buyers on a regular basis.”

The Santa Barbara Independent in California. “I walked my dog past the three vacation rentals opposite my rented home. There’s a new one at the corner. I circled the block, passing the fifth and sixth, converted two years ago. What happens when your neighborhood is all vacation rentals? Major cities like London, Amsterdam, and Barcelona report the same problem.”

“In Los Angeles, 67 percent of housing is owned by investment entities. Everyone, it seems, is into profitizing homes. Even public agencies that really ought to be thinking about the constituents they serve. People in Amsterdam, being pushed out of their homes, asked, ‘Who will be here, except for investors and tourists?'”

From New Geography. “In many ways, the discussion of housing in California has devolved into a thinly-veiled propaganda war on single-family neighborhoods. So why all of this rhetoric, with loaded phrases like ‘exclusionary zoning,’ and these toxic attempts to paint single-family neighborhoods as immoral, racist, and evil? Well, for one thing, this war on single-family neighborhoods serves the larger agenda of the Urban Growth Machine: the upzoning and deregulation of single-family neighborhoods, where developers could build a lot of profitable luxury condos, offers exciting new horizons in real estate ROI.”

“What is particularly ironic about the neoliberal move to deregulate housing is that it takes urban planning away from communities and puts banks and the real estate industry in charge. And yet what the WIMBY’s conveniently forget is that the top three densest urban areas in the US are already all in CA (LA, followed by San Francisco and San Jose, in that order), and that there are 1.2 million vacant units in the state vs. a housing deficit of 820k.”

The Vancouver Sun in Canada. “Justin Trudeau has abruptly switched into the role of housing-affordability radical. All federal parties’ housing platforms require scrutiny, but here are five reasons voters are justified in feeling suspicious about the prime minister’s sudden conversion to housing activist, a persona he adopted last week to profess: ‘You shouldn’t lose a bidding war on your home to speculators. It’s time for things to change.'”

“2. The Liberals have purposely increased ‘demand’ for housing. It was more than odd when Trudeau came to Vancouver in August and said “you’ll forgive me if I don’t think about monetary policy … You’ll understand that I think about families.’ It’s impossible to believe the prime minister doesn’t comprehend that monetary policy — in the form of extremely low interest rates and his government’s rapid printing of money in response to the pandemic — have helped jack up prices.”

“3. Ottawa has done little to combat money laundering via real estate. Former Vancouver Sun reporter Sam Cooper’s book, Wilful Blindness: How A Network of Narcos, Tycoons and CCP Agent Infiltrated The West, describes how transnational multi-millionaires and criminals, rooted in China, Mexico and elsewhere, have exploited the country’s real estate, which is ‘Canada’s soft spot for economic infiltration.’ Cooper’s book describe many egregious examples of how ‘dirty’ offshore money has been transformed into ‘clean’ money through Canadian housing, especially via property flipping.”

“Housing prices across the country have jumped more than 50 per cent cent on average under Trudeau’s watch. This glaring reality was captured in a recent devastating sound bite, when a heckler at a Trudeau rally in Ontario bellowed: ‘You had six years to do something. You’ve done nothing. These houses are worth $1.5 million. Are you going to help us pay $1.5 million? Are you, buddy?'”

The South China Morning Post. “Canadas tax agency has released details of a secret investigation by its auditors linking millionaire migration and suspected tax cheating to high home prices in Vancouver, now one of the world’s most unaffordable cities, after taking five years to fulfil a freedom-of-information request to hand over the material. The response to the South China Morning Post’s request, lodged on August 30, 2016, arrived by mail this August 17, a delay that a freedom-of-information expert called a ‘tragedy’ and ‘troubling,’ given the importance of the material.”

“The documents confirm the Canada Revenue Agency (CRA) knew 25 years ago that wealth migration and foreign money were playing a vast role in Vancouver’s luxury housing market, and that government millionaire migration schemes appeared connected to systematic tax abuse, with participants declaring refugee-level incomes.”

“But the process was allowed to continue for decades before the lucrative immigration programmes behind the phenomenon were halted in recent years, for the reasons identified by auditors so long before. It is the first time the CRA has acknowledged the existence of the 1996 study, which a CRA whistle-blower said was covered up then ignored by bosses.”

“The study was marked as a confidential and a ‘protected’ document, a classification that the material is expected to ’cause injury to an individual, organisation or government’ if compromised. The research was triggered by the auditors’ concerns about tax cheating under Canada’s Immigrant Investor Programmes (IIP), the whistle-blower previously said.”

“But instead of being curtailed as a result of the auditors’ findings, the lucrative schemes would become the world’s most popular millionaire migration vehicles over the next two decades. ‘If this audit had been made available at the time, as opposed to the government keeping it secret so long … then maybe we would have had a completely different story about home prices in Vancouver than we have right now,’ said Sean Holman, Mount Royal University journalism professor.”

The Whitehorse Daily Star in Canada. “Buying a home in Whitehorse and the Yukon has become substantially more difficult to do in the last year. The latest real estate numbers show the average price of a home in the city is now just over $650,000. That marks an increase of more than $100,000 since 2020. It’s also a jump of $60,000, or 10.2 per cent, compared to the first quarter of 2021 ($590,700).”

“‘We know what the cause is. Demand is outstripping supply,’ Marc Perrault, the president of the Yukon Real Estate Board told the Star.”

A comment: ‘Oh here we go again… the story about real estate gets all the bees buzzing like they’re the only one to see honey. Real estate is up almost all over the world. All across canada this is an issue. We can blame real estate agents, but more and more there are people selling their homes through apps or privately or telling the real estate agent they want x amount so ask for that plus your commission. So it’s a bit disingenuous to say they’re the cause of the increased cost.'”

“‘Greed is at the bottom of it, the fear of missing out and the fever of wanting, nay, absolutely having a house of ones ‘dreams.’ These are fueled by foolish television playing on peoples fickle nature (you must constantly renovate and flip! To be a millionaire). They are sustained by insurance companies willing to insure homes for a market value that is based on the ‘greater fool’ syndrome. They are fed by banks who act as drug dealers with low interest financing and promises of payments for life with no debt relief in site. Real Estate agents are just the symptoms of a much bigger illness, not just in major institutions, but in every household that calculates their inheritance based off the market value of their parents hard paid for home.”

“Every household that feels they’re entitled to a $100,000 increase in value because HGTV says so. Every household that leverages itself to the extreme to get multiple homes for a chance to make a quick buck. This isn’t just a Yukon problem, it’s a world wide greed problem.'”

This Post Has 74 Comments
  1. I had a lot of other links I could have put into this topic, but if it’s too long it doesn’t work.

    ‘instead of being curtailed as a result of the auditors’ findings, the lucrative schemes would become the world’s most popular millionaire migration vehicles over the next two decades’

    This is worth reading in full. The whole K-dn money laundering debacle was guberment sanctioned and encouraged from the start. Long time readers might remember that last decade, if a person flying into Vancouver from China was caught with a suitcase of cash, the guberment would skim a few thousand and away they went.

    1. I had a lot of other links I could have put into this topic, but if it’s too long it doesn’t work.

      Talk dirty to us, Ben.

      1. I’ve learned the hard way what’s overkill, or at least I hope I have. When I get an idea about a weekend topic, I’ll save relevant links. Then I try to put it all together and much gets cut. For instance, short term rentals. I have several examples. STR are just one example of speculation. I’ve got an article saved on NYC where people are talking about buying a second airbox a few blocks or miles from their current one. This harebrained concept floated up several years ago in NYC and we rightly mocked it as a flimsy excuse to gamble with borrowed money.

        1. My x-BIL is playing the same speculative investment game in the greater St. Louis, Missouri area, buying extra homes that go up for sale in his area with a nearterm plan to flip them at a higher price. I suppose when the Fed is running the printing press at high blast and concentrating its liquidity firehose on housing, it’s not a bad strategy for trying to capture a personal share of the QE, and hedge against deliberate dollar inflation.

          Early on in the mania, this kind of speculation was limited to the coast, but now it’s ubiquitous, even extending to the frozen tundra of the Yukon!

  2. Sometimes seeing the REIC talking points repeated in a sh$thole is all you need:

    ‘Second, Perrault said, there’s another subset of people moving to the Yukon to retire. They’re often flush with money from the sales of their homes wherever they’re coming from, and can also afford to pay more than market rates.’

    ‘Perrault said he sees both of these scenarios as hugely influencing real estate prices, but he insisted “that’s not the real market.” The Yukon is basically a tiny market, and even a few real estate deals closing over market prices can have a sizeable impact on overall numbers that’s disproportionate to what’s actually happening, he said.’

    “That’s for a smaller number of homes, but it’s really distorting the picture of what’s going on,” Perrault emphasized. “It’s not an accurate view of the market, though.”

    ‘Another factor driving the red-hot market is simply the movement of people into the Yukon. The territory is viewed as a desirable location, and it’s always been stable economically, he said. He called the lure of the Yukon as being “de-urbanization”, although of course most people will end up in Whitehorse.’

    ‘Perrault said he doesn’t see the market cooling off any time soon, but he’s confident eventually it will adjust.’

  3. ‘When you look at what is needed to create a bubble, it’s speculation and easy money. There is no speculation. There is inexpensive money with low rates, but to access it you have to be a good risk’

    March 26, 2020

    “As America heads into a deep recession, the $11 trillion residential-mortgage market is in crisis. Investors who buy home loans packaged into bonds are dumping even those with federal backing because of panic that millions might not make their payments. Yet one risky sector had started to show cracks long before the coronavirus pandemic sparked the worst financial meltdown in 12 years: the federal government’s largest affordable-housing program, whose lenient terms are geared toward marginal borrowers.”

    “As real estate prices soared in recent years, working-class adults everywhere have increasingly relied on mortgages backed by the Federal Housing Administration — and U.S. taxpayers. Since 2007, the FHA’s portfolio has tripled in value to more than $1.2 trillion, almost 11% of the market. While private lenders make these loans, they are packaged into Ginnie Mae bonds, common in mutual funds and pensions.”

    “Before Covid-19 started roiling China, a November FHA report found that 27% of borrowers last year spent more than half their incomes on debt, a level it describes as ‘unprecedented.’ The share of FHA loans souring in their first six months has doubled over the last three years to almost 1%.”

    “Not long ago, Alex Castillo drove his shiny black Infiniti SUV through an office park north of the San Antonio airport, along a busy seven-mile stretch of highway that loan officers call ‘Mortgage Row’ because of its abundance of small independent mortgage companies that dominate FHA lending. Castillo, who has the words ‘The Dream Starts Here’ stitched into his jacket, works for Pennsylvania-based American Residential Lending. Oddly, amid the pandemic, his business is booming. His customers locked in FHA mortgages after interest rates plunged this month — adding to federally backed mortgage debt.”

    “‘If the government tells me you’re good enough to get a loan, I have to trust and believe in the government,’ Castillo said. ‘Then we just hope and pray that the client doesn’t get foreclosed on.’”

    “In downtown San Antonio, scores of investors stood on a parched lawn beside the city’s historic granite-and-red-sandstone courthouse. It was the first Tuesday of February, the day of the foreclosure auction. Matt Badders, a San Antonio lawyer who represents lenders, auctioned off two houses. The failed mortgages remind him of the run-up to the financial crisis 12 years ago, when lending to customers with spotty credit nearly brought down the world’s financial system. ‘We’re almost back to 2007, when mortgage originators are waking people up on park benches, saying sign here,’ Badders said.”

    “At the auction, the crowd bid on 338 homes, a third with FHA mortgages, according to Roddy’s Foreclosure Listing Service. One house had dual master bedrooms, a game room and granite kitchen counters. It sold for $202,000 — $52,000 less than the homeowner borrowed only two years ago. The taxpayer-backed FHA insurance fund will take a loss.”

    “Dave Stevens, FHA commissioner under President Barack Obama and former chief executive officer of the Mortgage Bankers Association, said a recession will expose hidden risks in home lending. ‘This should be an alarm bell to policymakers,’ Stevens said. ‘Sometimes you get blinded by a good economy and suddenly look at it and see a bubble of defaults coming.’”

    “The federal government has decided it doesn’t want to pursue — and has asked a judge to dismiss — a lawsuit against Utah-based Academy Mortgage Corp. The judge refused. The suit claims the company’s staff would repeatedly feed information into an automated federal underwriting system, manipulating it until the computer gave the green light. ‘Decline is a curse word,’ Plaintiff Gwen Thrower, a former underwriter, quoted a manager as saying. ‘We don’t use it.’”

    http://housingbubble.blog/?p=3070

  4. ‘What is particularly ironic about the neoliberal move to deregulate housing is that it takes urban planning away from communities and puts banks and the real estate industry in charge’

    Globalism isn’t embarrassed by hypocrisy. And it’s not new nor is it liberal. Remember a few years back when I caught on to the media repeatedly calling these scumbags “elite”? They’re still doing it.

    ‘And yet what the WIMBY’s conveniently forget is that the top three densest urban areas in the US are already all in CA (LA, followed by San Francisco and San Jose, in that order), and that there are 1.2 million vacant units in the state vs. a housing deficit of 820k’

    That’s some shortage.

    1. Remember a few years back when I caught on to the media repeatedly calling these scumbags “elite”? They’re still doing it.

      Sadly I see a lot of people parroting this/having accepted it. They talk about “the elite” and use the label implying they’re somehow better — it’s unearned and unfortunate

      1. It’s a subtle change, but significant. Telegraphing to the masses that we have masters. Why? Cuz they’re, uh, so smart? Rich? None of these things made somebody better than anyone else for generations in the US anyway. We grew up with the notion that in these united states, we don’t have royalty. It’s central to the modern western character. So these media can alter that with no one calling BS? And notice that the subjects of their fawning haven’t rejected the term.

        Oh no, all these people are dogs who need to be put down like dogs.

        1. Oh no, all these people are dogs who need to be put down like dogs.

          Comparing dogs, who for the most part are loyal and lovable creatures, to the gold collar criminals running this country like their private looting preserve is grossly unfair to the former.

      2. They talk about “the elite” and use the label implying they’re somehow better — it’s unearned and unfortunate I have the habit of editing things I read & hear so that “elite” is transmogrified into “garbage elite” in my mind.

        1. No one I know says “elite” as if the sociopaths in question are a higher caste. The term has become pejorative.

  5. ‘The Liberals have purposely increased ‘demand’ for housing. It was more than odd when Trudeau came to Vancouver in August and said “you’ll forgive me if I don’t think about monetary policy … You’ll understand that I think about families.’

    I look forward to the day they string you up and leave you for the penguins.

    ‘It’s impossible to believe the prime minister doesn’t comprehend that monetary policy — in the form of extremely low interest rates and his government’s rapid printing of money in response to the pandemic — have helped jack up prices’

    Here’s some things I’ve thought about: we often ask questions that miss the point. Of course he “comprehends.” It is jacking up shack prices that keeping him out of tar and feathers. And notice that QE is no longer the “tool” of the US and China and a few others. It’s every chicken sh$t outpost on the planet that’s getting away with rampant counterfeiting.

    1. “I look forward to the day they string you up and leave you for the penguins.”

      Trudeau is a big Tech Limpwrist.

    2. It was more than odd when Trudeau came to Vancouver in August and said “you’ll forgive me if I don’t think about monetary policy … You’ll understand that I think about families.’

      The globalists must high-five among themselves when they see their Quislings putting across such whoppers, and the cattle accept this with bovine stupidity.

  6. More QE madness:

    ‘The U.S. government’s road safety agency has added another fatality involving a Tesla to the list of crashes it is investigating due to the use of partially automated driving systems.’

    ‘A special crash investigation team was dispatched to a July crash on the Long Island Expressway in New York in which a man was killed by a Tesla Model Y SUV, the National Highway Traffic Safety Administration said Friday.’

    ‘The death brings to 10 the number of fatal crashes to which the agency has sent a team, nine of which involved Teslas. A total of 12 people were killed. The only fatal crash in which a Tesla wasn’t involved was in March 2018, when an autonomous Uber test vehicle ran down a pedestrian in Tempe, Ariz.’

    ‘The New York Police Department said that early on July 26, a 52-year-old man was struck by a Tesla and killed while changing a flat tire on his vehicle, which was parked on the left shoulder of the Long Island Expressway in Queens.’

    ‘A message was left Friday seeking comment from Tesla, which is based in Palo Alto. In the past the company has said that Autopilot is a driver-assist system and that motorists must be ready to intervene at all times. Tesla has been criticized by the National Transportation Safety Board and others who say it needs a stronger system to watch drivers to make sure they are paying attention.’

    https://www.latimes.com/world-nation/story/2021-09-03/feds-probe-new-y-tesla-crash-that-killed-man-changing-flat-tire

    See, we don’t need self flying taxis. This is cooked up as a way to cash in on the phony money. If people gotta die, so be it. Take the uber crap. We don’t need to replace taxis with different taxis driven by people using their own car and earning sub-minimum wages. But somewhere there are some crooks hoping to rake in billions and guberments who want a cut.

    1. Those things melt thru the asphalt when they go up in flames. Always be on the lookout for them when you’re driving just as a matter of personal safety.

  7. ‘Ottawa has done little to combat money laundering via real estate. Former Vancouver Sun reporter Sam Cooper’s book, Wilful Blindness: How A Network of Narcos, Tycoons and CCP Agent Infiltrated The West, describes how transnational multi-millionaires and criminals, rooted in China, Mexico and elsewhere, have exploited the country’s real estate, which is ‘Canada’s soft spot for economic infiltration.’ Cooper’s book describe many egregious examples of how ‘dirty’ offshore money has been transformed into ‘clean’ money through Canadian housing, especially via property flipping’

    Of course some media up there viciously attacked this guy as racist. Here’s something they don’t connect often: these are largely Chinese mafia, which are state sponsored by the CCP. And they make massive amounts of money selling drugs like fentanyl. One would think these caring guberments might shut down money laundering just because of that:

    The Drug Overdose Toll in 2020 and Near-Term Actions for …
    https://www.commonwealthfund.org › blog › 2021 › d…
    Aug 16, 2021 — In August 2021, the CDC also released provisional demographic data for overdose deaths through December 2020. These estimates indicate that …

    Overdose rates on pace to break another record in 2021
    https://www.doh.wa.gov › Newsroom › Articles › Over…
    Jul 20, 2021 — Of the 418 overdose deaths in 2021, 46% (191) of these deaths are linked to fentanyl. The increase in overdose deaths was also highest among …

    Issue brief: Reports of increases in opioid-related overdose
    https://www.ama-assn.org › system › files › issue-…
    PDF
    Aug 4, 2021 — to-treat-addiction April 26, 2021. • Overdose Deaths Surged in Pandemic, As More Drugs Were Laced With Fentanyl.

    Data Overview | CDC’s Response to the Opioid Overdose …
    https://www.cdc.gov › opioids › data
    Overdose deaths involving opioids, including prescription opioids, heroin, and synthetic opioids (like … MMWR Morb Mortal Wkly Rep 2021;70:202–207.

    A Proclamation on Overdose Awareness Week, 2021 – The …
    https://www.whitehouse.gov › 2021/08/27 › a-proclam…
    Aug 27, 2021 — In recent years, we have seen synthetic opioids, such as illicitly manufactured fentanyl, drive many overdose deaths with cocaine- and …

    ‘It’s Huge, It’s Historic, It’s Unheard-of’: Drug Overdose Deaths …
    https://www.nytimes.com › 2021/07/14 › upshot › drug-o…
    Jul 14, 2021 — By Josh Katz and Margot Sanger-Katz July 14, 2021 … Drug overdose deaths rose nearly 30 percent in 2020 to a record 93,000, according to …

    Thirty-four King County residents died from fentanyl Drug …
    https://publichealthinsider.com › 2021/08/17 › thirty-fo…
    Aug 17, 2021 — The year 2021 is on track to be the deadliest year for fatal fentanyl overdoses with over 200 deaths so far this year in King County.

    US Overdose Deaths Hit Record 93000 in Pandemic Last Year
    https://www.usnews.com › News › Health News
    Jul 14, 2021 — According to a report released by the Centers for Disease Control and Prevention on Wednesday, July 14, 2021, drug overdose deaths soared to …

    Drug overdose deaths hit highest number ever recorded – CNN
    https://www.cnn.com › 2021/07/14 › health › drug-overd…
    Drug overdose deaths in 2020 hit highest number ever recorded, CDC data shows. By Maggie Fox, CNN. Updated 7:07 AM ET, Sat July 17, 2021.

    US drug overdose deaths rise 30% to record during pandemic
    https://www.reuters.com › world › us-drug-overdose-deat…
    July 14, 20213:30 PM PDTLast Updated 2 months ago … While overdose deaths were already increasing in the months preceding the COVID-19 outbreak, …

      1. ‘A report quietly released last week by Public Health Ontario (PHO) tallies the number of people in the province who have presented to hospital with heart inflammation following mRNA vaccination, and it skews heavily towards young people.’

        ‘As of Aug. 7, there were 106 incidents of myocarditis/pericarditis in Ontarians under the age of 25. That’s slightly more than half of the total of all such incidents. Broken down further, 31 of these cases were in 12- to 17-year-olds and 75 were in 18- to 24-year-olds. The vast majority — 80% — were in males.

        The report explains that PHO issued a directive in June for public health units to increase their surveillance of this side effect following reports from the United States and Israel of similar concerns unfolding in those countries.’

        “The reporting rate of myocarditis/pericarditis was higher following the second dose of mRNA vaccine than after the first, particularly for those receiving the Moderna vaccine as the second dose of the series (regardless of the product for the first dose),” the report explains.’

        ‘PHO adds that the reporting rate for heart inflammation in those 18-24 was seven times higher with Moderna than with Pfizer. (The only vaccine currently used for 12- to 17-year-olds in Ontario is Pfizer.) While PHO initially worked with reports of 314 such incidents, upon further investigation they narrowed that number down to just over 200.’

        ‘There have in total been 202 emergency room visits across all age groups for such issues following vaccination, with 146 leading to hospitalization. Three of these have led to ICU admission. The highlights section of the PHO report conclude with a note that “COVID-19 vaccines continue to be recommended and are highly effective at preventing symptomatic infection and severe outcomes from COVID-19 disease, which is also associated with a risk of myocarditis.”

        https://torontosun.com/news/provincial/over-100-ontario-youth-have-been-sent-to-hospital-for-vaccine-related-heart-problems

        Get yer wills amended to include HBB. I will use the funds to finance my earth re-population campaign. Con mucho gusto!

        1. Huge crowds as Toronto police officers join rally for freedom against vaccine passports

          ‘The only thing that’s going to get us out of this tyranny is if every individual ensures their liberties.

          ‘Talking about the government’s continued plan to dismantle the rights of Canadians, which includes Premier Doug Ford’s installation of a vaccine passport system in Ontario, Sky outlined the timeline of events from his perspective, referencing public statements he has made.’

          “[18-months ago] the mere words ‘vaccine passport’ made me a ‘crazy conspiracy theorist’,” said Sky. “Now that it’s here, even six weeks ago [when] Doug Ford said we’re not gonna do a vaccine passport, I told you all that’s called ‘pacification followed by predictive programming’,” he added.’

          ‘“Do you see where compliance leads you?” Do you really need to comply any longer to see where it’s going to keep leading you?” Sky asked the crowd, illustrating how without resistance, the measures have continued tightening. Sky, who has been one of those at the forefront of the freedom movement in Canada, told the crowd of the consequences he has faced for refusing to mask, refusing to be tested, and for holding rallies across the country encouraging people to do the same, in an effort to put an end to these measures.’

          “I’ve been arrested over a dozen times, I’ve accumulated over $100 thousand dollars in fines, and legal fees close to that. I’m currently on six separate bails, each one of them with their own conditions, including things like not being able to drive, not being able to fly, having my house raided and all my legally owned firearms taken,” he stated.’

          “Why are they doing this to me? Because they want to make an example of people who stand up. But all they’re doing is proving that really, they can’t do anything. They haven’t stopped me from speaking, they haven’t stopped me from spreading the word,” he added.’

          ‘In response, the crowd started chanting “Just say no!” which was the phrase Sky developed at the beginning of the COVID-19 measures, to encourage Canadians to resist the measures from becoming “the new normal.” “It works! And that’s all we have to do!” Sky shouted in response to hearing his chant.’

          ‘Also in attendance was constitutional rights attorney Rocco Galati, who is currently suing the federal government, the British Columbia provincial government, as well as Trudeau and government public health officials, over the imposition of these illegal COVID-19 measures. “It’s a very simple fight; It’s about who controls your body, your mind, and your will, you, or the friggin state,” exclaimed Galati.’

          “Thomas Jefferson said that when ‘people are afraid of the government, you have a tyranny, and that when government is afraid of the people, you have a democracy’, and what we’ve got right now is a dictatorship,” he added.’

          ‘Referring to the “Genetic Non-Discrimination Act” Galati reminded the crowd that under Canadian federal law, forcing someone to take a “PCR test or any other COVID-19 test” is a criminal offence punishable by 5 years in prison. “There is no magic wand,” said Galati, “the only thing that’s going to get us out of this tyranny is if every individual ensures their liberties.”

          “You can’t sit at home and expect somebody else to do it for you, everybody’s got to do it for themselves,” he continued.’

          https://www.lifesitenews.com/news/huge-crowds-as-toronto-police-officers-join-rally-for-freedom-against-vaccine-passports/

          1. ‘The only thing that’s going to get us out of this tyranny is if every individual ensures their liberties.

            Word. There’s a reason the globalists and their Quislings are going all-out to disarm the population, as what they’re doing now pales in comparison to what they intend to do once potential resisters are defenseless.

          2. Quoting Bruce Springsteen, Galati concluded his address to the crowd, “No retreat, no surrender.”

            Ironic that a pro-freedom rally quotes Bruce Springsteen, the so-faux “rebel” who in reality is a globalist salad-tosser who bars the unvaccinated from his concerts.

      2. It was inevitable that they’d eventually have to admit it, the jab is forever. Two weeks to flatten the curve has turned into being chased around for the rest of your days by Idiots with needles. Just in case anyone thought it was hyperbole when I said this is never going to end, here you go…straight for horse’s mouth…

        https://twitter.com/razorback11111/status/1432161229179539460?ref_src=twsrc%5Etfw

        Anyone who got suckered into thinking getting jabbed was going to give them “the keys to the city” is waking up to the reality that the city is a permanent penal colony.

        1. 6th tweet: Lying b!tch. Recent data shows natural immunity is 20x better than vaccine-induced immunity.

    1. “Elder has faced his own scrutiny in the race as well over a claim from his former fiancée that he pointed a gun at her once and statements he’s made about women.”

      Gotta wonder how many “political paleontologists” are on the DNC’s payroll these days?

  8. So is it a safe plan to load up on investment properties now and wait for profits, so long as you offload before April 2022?

    “Inventory numbers are also beginning to increase for the first time in several months, but this is unlikely to lead to a significant fall in house prices according to market experts- at least not for quite a while (April 2022).”

  9. California has a housing allocation problem, not a shortage. Excess supply at unaffordable prices is a natural consequence of a mania forcing prices to ever less affordable heights. The market will not clear until prices fall back down to earth.

    “…there are 1.2 million vacant units in the state vs. a housing deficit of 820k.”

  10. Is it too late now to snap up a few residential investment properties in the Yukon?

    The pandemic-driven tsunami tide of Powell bucks seems to be spreading across global property markets without limits this time around.

    “Buying a home in Whitehorse and the Yukon has become substantially more difficult to do in the last year. The latest real estate numbers show the average price of a home in the city is now just over $650,000. That marks an increase of more than $100,000 since 2020.”

    1. I drove across the Yukon diagonal once. While it’s true they aren’t making any more of it, there’s plenty to go around. When you get toward Alaska, it’s not nice country like BC. Kinda other-worldly.

    2. I get homelessness in coastal California, where winter temperatures rarely dip below 40 degrees Fahrenheit. But how does it work in the Yukon, where I assume negative Fahrenheit temperatures are commonplace in the winter? Homeless survival doesn’t seem feasible.

      1. Homelessness remains ‘a persistent injustice’
        By Tim Giilck on August 25, 2021

        The latest figures on homelessness in Whitehorse are out, and it’s not a particularly flattering portrait.

        The numbers were the focus of a news conference and release Tuesday morning by advocates for the homeless.

        On April 13 and 14, the Reaching Home Community Advisory Board, the Safe at Home Society and 24 local volunteers conducted Whitehorse’s third Point-in-Time (PiT) Homeless Count.

        The count found that at least 151 people were homeless during a 24-hour period.

        According to those numbers, five people were unsheltered (living on the street, in vehicles, public spaces, or tents) and 38 people were emergency-sheltered at one of three local shelters.

        An additional 108 individuals were provisionally accommodated in transitional housing, in a hotel/motel, staying at someone else’s place or in a public institution such as the Whitehorse Correctional Centre and Whitehorse General Hospital, or in programming at Mental Wellness & Substance Use Services.

        “This count really gives us a sense of how hidden our homeless population is,” said Kate Mechan, the society’s executive director.

        “The vast majority of respondents said they were couch-surfing or living in hotels or motels – these locations are often unsafe and don’t come with the same subset of supports.”

        Helen Slama of the Yukon Anti-Poverty Coalition said “this count is a snapshot of homelessness in our community.

        “It’s intended to help us understand the challenges facing homeless communities and their families. Homelessness is a persistent injustice, and addressing the root causes of homelessness is more complex than building more affordable housing.”

  11. Is it a safe bet that the delta variant will give the Fed a perfect excuse to keep Unlimited Quantitative Easing in place indefinitely?

    Should be great for driving down longterm Treasury yields even farther. Don’t miss out on the ongoing longterm Treasury rally!

    1. The Financial Times
      US economy
      Jobs slowdown puts Fed’s taper timeline in doubt
      Analysts predict US central bank could hold off announcing withdrawal of stimulus until end of the year
      The drop in employment growth has cast doubt on Fed chair Jay Powell’s view that the Delta virus variant may have a muted economic effect
      Colby Smith in New York yesterday

      A sharp slowdown in US jobs growth precludes the possibility that the Federal Reserve will announce plans this month to begin scaling back its pandemic-era stimulus, economists say, as the spread of the Delta coronavirus variant muddies the economic outlook.

      Following very strong payrolls reports in June and July, the US central bank readied for a reduction this year of its $120bn a month asset purchase programme, which it said it will keep in place until it saw “substantial further progress” on its goals of maximum employment and average 2 per cent inflation.

    2. I don’t understand why anyone would “invest” in U.S. government debt that is going to be printed away by the Fed.

  12. ** “the top three densest urban areas in the US are already all in CA (LA, followed by San Francisco and San Jose, in that order), and that there are 1.2 million vacant units in the state vs. a housing deficit of 820k.”

    As a longtime CA resident I am quite aware of how tenants can easily game the long, expensive & convoluted eviction process to their advantage.

    The media always portray tenants as poor, single mothers with kids who, through no fault of their own, just happen to stumble into a bad situation but, with a little understanding & compassion from the rich, mean landlords will finally get it together.

    The truth is quite the opposite, so the properties remain vacant as it’s less risky to just rely on slow but safe & steady rise in equity, rather than wage a costly legal battle against a stacked deck.

    Include me among the those with a vacant house . . which will remain vacant for the foreseeable future.

    1. “The media always portray tenants as poor, single mothers with kids who, through no fault of their own, just happen to stumble into a bad situation.”

      A borrower occupying an SFR is a tenant.

      Get packing…. Giddyup DebtDonkeys.

    2. “The media always portray tenants as poor, single mothers with kids who, through no fault of their own, just happen to stumble into a bad situation…”

      The morbidly obese, mouth breathing hordes do appear to have a penchant for residing in a floodplain or tornado alley.

  13. “Billionaire philanthropist” George Soros & his ilk are funneling billions to communist insurrectionists like BLM & Antifa, while the FBI is covertly funding key figures in the neo-Nazi scene. Looks to me like the globalists & Deep State have decided to employ the British Empire’s classic “gang-vs. counter-gang” strategy of chaos so they can create the conditions to “suspend” the Constitution, declare emergency rule, and annul the 2nd Amendment.

    FBI funded neo-Nazi book publisher, court docs reveal

    https://nypost.com/2021/08/26/fbi-funded-neo-nazi-book-publisher-court-docs-reveal/

    A man with close ties to white supremacist organizations has received more than $100,000 from the Federal Bureau of Investigation as an informant, court documents have revealed.

    Joshua Caleb Sutter, of Columbia, SC, has worked with the FBI since 2003, according to records obtained by investigative journalist Ali Winston. Records indicate that the FBI had hoped to target others involved in an occult neo-Nazi publisher in the state, Martinet Press. Among many controversial works, their catalog includes “The Devil’s Quran,” a book that promises to provide “a path for those who are willing to enter Hell and claim the Devil as their lord,” according to its description online.

  14. As for those concerned that there may be a housing bubble, Mike Ruzicka, president of GMAR says those fears are unwarranted. ‘When you look at what is needed to create a bubble, it’s speculation and easy money. There is no speculation.

    Saying “Realtors are liars,” while true, doesn’t adaquetely convey the sheer magnitude of the lies and falsehoods from the NAR, an industry of dissemblers.

  15. “Home prices across the U.S. increased by roughly 25% year-over-year to an average sale price of approximately USD $386,000.

    Jerome Powell & Yellen the Felon see no bubbles and assure us surging inflation is “temporary.”

  16. This is because certain protective measures introduced by the government to counteract the catastrophic effects of the deadly virus have provided a ‘blanket of economic security’ for individuals, meaning that they now feel more comfortable purchasing homes- increasing demand and propelling prices significantly.”

    I’m glad to see the ex-journalists from the defunct USSR propaganda outlet “Pravda” landed on their feet and are still pursuing their craft.

  17. This is because, whilst individuals who have been in the market for a long time are beginning to lose their enthusiasm, the housing industry continues to attract a very large amount of new buyers on a regular basis.”

    Those “new buyers” will be walking away from their overpriced “purchases” in their millions once the central bankers’ Everything Bubble bursts and trillions of make-believe Yellen Bux valuations are being vaporized from Housing Bubble 2.0. The resultant financial carnage is going to make 2008 look like a walk in the park.

    1. When the stimmy checks finally stop going out, subprime auto delinquencies are going to start rising again. More repos should help fix the ridiculous inflation in used car prices.

    2. Those who have great credit scores and 20% for a down payment can drive fresh new cars because residual values for lease returns and used cars are remarkably high right now.

  18. The Orwellian creepiness around these “COVID-19 prevention measures” gets more intrusive by the day – and still the sheeple slumber on. When will the globalists’ creepy Orwellian tech companies employ drones able to scan beachgoers for evidence of BadThink?

    Flying drone to ‘automatically’ check holidaymakers’ temperatures on Italian beach in case of Covid & other emergencies

    https://www.rt.com/news/533836-italy-drone-covid-temperature/

    Italian officials want a drone to fly around and measure the temperatures of people relaxing on a beach near Rome in order to track Covid-19 and prevent health emergencies.

    The ‘medical’ drone was scheduled to patrol the beaches of Ostia, a suburb of Rome, on Saturday and Sunday, but the experiment was postponed due to a bad weather forecast.

      1. Fever is not a common symptom of Delta variant

        I didn’t have one. Damn cough won’t go away though.

        1. I didn’t have one. Damn cough won’t go away though.

          I didn’t have a fever either and mike cough has finally disappeared.

      2. Yes….because delta variant is just a rebranded cold. Just like the WuFlu is just the seasonal flu. Oxide go bahhh……

        1. Delta is a rebranded cold IF you’re vaccinated (or previously infected). If you’re unprotected, there’s some evidence that Delta is worse than Alpha.

  19. Any amount over about 50% of the present market value is the equivalent of that password-protected cartoon rock image that sold for $1.3M.

  20. The Rockefeller Business Model of destroying your competition by any means , than forming a dictorship by the Monopoly , is the greatest weapon to take over .
    First the Globlist piig men transferred the manufacturing to places like China to create a Monopoly in manufacturing. Same with financial systems being Globalised..
    So than Monopolize the news to destroy any news other than the fake narrative brainwashing. Fake news is destroying the competition of any dispute to the fake news.
    Have a Medical Monopoly that dictates a Pandemic, with forced lockdowns and vaccines, and destroy the competition of cheap safe drugs that work by suppression , smearing of the drugs, , for the one Monopoly solution of untested vaccines.
    Destroy small business by lockdowns and mandates, making the monopolies even bigger and more powerful, by this collusion of Monopolies.
    The Monopoly model is designed to crush capitalism and healthy competition for a concentration of power in few hands. IIt than creates a dictorship.by Globlist Monopolies that want to dictate every aspect of life by control of all resources and Government.

    Its like Communism where the Government controls and dispersed all resources , but its worse because Private Party Monopolies want to control all resources . The Government is their pawn in a looting scheme by Monopolies to get tax revenue and Government dictating the dictates of the Monopolies. Its no longer Government by the People, but this corruption of Government becomes Government by the Monopolies.

    Basically the Monopolies teamed up with Communist China , and corrupted Government and Agencies, to overthrow the Constitution Republic of US.
    This is why you get the constant badmouthing of the US and a open attack on US Citizens as being White Racist Innsurrectists and attack on a long term Political Party or Trump supporters.

    Its the divide and conquer Playbook to first brainwash people into denouncing their own Country , hating the Constitutional Republic , and to hate fellow Citizens who don’t want Communist. style dictorship.
    Divide the vaccinated from the non vaccinated , or any sort of division to prejudice and punish people trying to preserve freedoms.
    It isn’t logical for Citizens of a Country, to vote for a Dictorship by Psychopathic Private Party Monopolies and have no freedoms.
    They had to criminally steal the election, and their treasonous Puppets in high places like Biden are advancing the Agendas of this treasonous take over of the US and other Countries.
    The fake narrative Monopolizing of News, with censorship of facts and dispute is a taking of the first amendment right off the bat . Fraudulently deprive the Public of anything but false narratives that promote the agenda of these Monopoly Innsurrectist, that have corrupted Government into their camp.
    So, over half the Country is being demonized by this outrageous take over by Private Party Monopolies and the Elite. They are threatening loss of job, banning commerce, threat of Covid camp imprisonment, or imprisonment by further lockdowns or forced vaccines to be able to engage in life.

    Apparently now the UK Health officials are pushing back on vaccination of 12 and under children, as well as the booster shot, as is Japan.
    2 big FDA heads just quit, and the word is they don’t endorse children vaccines or the booster shots.
    The Dr. Fauci Cartel, the CDC and WHO suppression of good medications for the final solution global vaccines, where we are just guinea pigs for these vaccines not tested , is getting a little push back now.
    The vaccines are failing and how much longer can they suppress the adverse reactions and deaths caused by these injections, as well as depriving people of drugs that work.

    This was a well planned deliberate unjustified Pandemic, using bogus PCR tests, bribery of Hospital systems to kill respiratory patients by non valid treatment that killed them, for the one solution vaccine. Extortion , bribery or threat of loss of job to the Medical Community to go along with the Medical Fraud was done, and is still going on.
    So the Public has to know who the enemy is that they are combating, and what weapons they are using for this takeover.
    Don’t comply and seek and support any alternative to their rigged systems of takeover and even outright murder.

  21. As Democrat-Bolshevik bureaucracies become more bloated and the Comrades of Proven Worth (D) require ever-more extravagant salaries and pension plans, along with funding freebies for the ever-expanding votes-for-entitlements classes, shacks in commie-controlled states and cities are going to be low-hanging fruit for the tax man.

    SUBURBAN RESIDENTS RISK LOSING HOMES OVER RISING PENSION COSTS

    https://www.illinoispolicy.org/suburban-residents-risk-losing-homes-over-rising-pension-costs/

    Patricia Hill grew up in Chicago’s Hyde Park neighborhood dreaming of one day owning a home. She and her husband accomplished that dream in 2003 when they moved to the suburb of Matteson to raise their two daughters. They bought a two-story home in a quiet neighborhood for $315,000. Her property taxes were $7,800 for 2004.

    But Hill’s home is now worth less than she paid for it back in ’03. Meanwhile, her property taxes have done anything but decline. She now pays nearly $10,000 in property taxes.

    1. Illinois’ main street Sixpacks are in good hands with folks like Rod Blagojevich or current JB Pritzker pulling the strings.

    1. Today is Saturday, September 4th and Joe Biden is not the legitimately elected president of the United States (posting from elevation 12,000+ in the Rawah Wilderness / Roosevelt National Forest).

      The 2020 election was stolen.

  22. Oh dear…imagine the shock of the Democrat-Bolsheviks and their Establishment GOP fellow globalist Quislings as they look up from servicing their corporate and Wall Street donors long enough to see The Great Unwashed preparing to Cantor sell-out RINO incumbents in their primaries. (Marlon Brando VoiceOver: “The horror…the horror.”)

    Liberals Fear The Thousands Of Trump Supporters Taking Over Local GOP Positions

    https://www.thegatewaypundit.com/2021/09/thousands-trump-supporters-taking-local-gop-positions/

    ProPublica contacted GOP leaders in 65 key counties, and 41 reported an unusual increase in signups since Bannon’s campaign began. At least 8,500 new Republican precinct officers (or equivalent lowest-level officials) joined those county parties. We also looked at equivalent Democratic posts and found no similar surge.

    “I’ve never seen anything like this, people are coming out of the woodwork,” said J.C. Martin, the GOP chairman in Polk County, Florida, who has added 50 new committee members since January. Martin had wanted congressional Republicans to overturn the election on Jan. 6, and he welcomed this wave of like-minded newcomers. “The most recent time we saw this type of thing was the tea party, and this is way beyond it.”

  23. I took 18 trips to Hong Kong in the 1980’s. It was well known then that wealthy Chinese in Hong Kong anticipated England losing its territory and in consideration of that, capital flight had started and the number one destination was Vancouver and the rest of Canada

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