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Demand From Ordinary Buyers Is Subdued, No Matter What The Media Might Be Telling You

A report from Bloomberg. “No city exemplifies the mania of the Covid-era U.S. housing market better than Boise, Idaho. But in a sudden reversal, buyers are now the ones with power. Asking prices for houses are being slashed. Demand has slowed so much it’s like a light switch suddenly turned off, said Dominic Zimmer, a local Realtor. ‘You’re seeing the fear of missing out switching from buyers to sellers,’ Zimmer said. ‘Now sellers are afraid of not scoring the way they saw their neighbors do a year ago.'”

“In some destinations builders who could hardly put up homes fast enough now have inventory sitting. Homes started when the market looked unstoppable are getting discounted as they’re completed. A Toll Brothers Inc.house in Nampa is on sale for $575,000, down $44,000 since it was listed at the end of June. CBH Homes, the most prolific builder in Idaho, has 100 Canyon County homes with active listings on Realtor.com. As of Friday, 80 have price reductions.”

“In Pasco County, Florida, a relatively affordable coastal area about 45 minutes north of Tampa, sellers can no longer shoot for the moon, said Gerard Buglione, an agent with Charles Rutenberg Realty. He’s working with a family that moved from New Jersey during the height of the boom in April. They beat out multiple bidders and paid $270,000 for a four-bedroom house with an open floor plan on a cul-de-sac.”

“They didn’t like Florida and now want to move back. They sought a big profit, listing the home for $369,900 in early September. The price has come down by $20,000 since then. A neighbor just sold a house with the same floor plan for $10,000 less than that. ‘A lot of buyers have gotten frustrated and put purchasing on the back burner,’ Buglione said. ‘Prices are leveling out.'”

The Daily News. “The National Association of Realtors said Thursday its median selling price of an existing U.S. house was $352,800 last month — the third consecutive drop from June’s peak of $362,800, or a 2.8% drop. ‘The days of inventory being down 20% or 25%, those days are over,’ said Lawrence Yun, NAR’s chief economist. ‘The decline is lessening and soon in 2022 we’ll begin to see inventories are higher year-over-year.'”

The Sun Sentinel. “Pandemic homebuyers from out of state sent the South Florida real estate market soaring out of reach for many local buyers. But there are early signs that the high-spending competition is starting to retreat back to the northeast. Sales of single-family houses and condos dropped sharply in the third quarter of 2021, in part due to fewer out of state buyers, according to Related ISG Realty, a real estate group based in South Florida. ‘The COVID buyer has retreated,’ said Craig Studnicky, CEO of Related.”

“Between July and September, 14,868 single-family homes and condos sold in Palm Beach, Broward and Miami-Dade counties. That’s just half of the 29,992 that closed in the second quarter, the data shows.”

From Virginia Business. “The residential real estate market frenzy in Virginia may be slowing to more normal conditions, the chief economist with Virginia Realtors said. In the Richmond area, Beth Dalton, the president of Virginia Realtors, said they are still seeing multiple-offer scenarios and competitive offers at that. In spring through July, buyers were waiving everything, in many cases, just to seal the deal, she said. They would offer creative incentives, such as letting the seller leave things in the house they didn’t want to move. They nicknamed this trend ‘the Dumpster clause.'”

“This month, things are improving, and it’s ‘less frenzy-like,’ she said. It’s still busy, with many transactions, but more like what the fall is usually like, she said.”

The North Kentucky Tribune. “Mom-and-pop landlord conditions continue to worsen. Sixty-seven percent of the respondents reported that mom-and-pop landlords were choosing to sell their properties — a 15-point jump from last month’s survey results. ‘Mom-and-pop landlords are an important source of affordable housing. The pandemic and subsequent recession have put them under tremendous financial stress. We continue to advocate on their behalf,’ said Kentucky Realtors Communications Director, Paul Del Rio.”

The Albuquerque Business Journal in New Mexico. “Metro Albuquerque’s rapid home price growth has leveled off slightly in recent months, but that didn’t stop the market from setting a new record high in the last quarter. During the third quarter of the year, from July through September, the median sale price of a single family home in the metro area stood at $298,000, while the mean sale price was $344,775, according to the Greater Albuquerque Association of Realtors.”

“GAAR board president Belinda Franco and local Realtor Tego Venturi agreed that the market has slowed slightly since the start of the summer. The median sale price dipped slightly after hitting $300,000 in June, and fewer homes are selling with multiple offers. Venturi said the recent slowdown has more to do with seasonal impacts, with students back in school for the fall, than any underlying change in the market.”

“The number of closed sales and new listings for single-family homes each dropped compared to the third quarter of 2020, which Franco attributed to limited inventory. Venturi added that buyer fatigue may be a factor as well, as potential home-buyers look to wait out the tight market. ‘There is that light at the end of the tunnel for first-time home-buyers,’ Franco said.”

“Going into the winter, both Franco and Venturi said they expect price growth to continue flattening out due to seasonality. Venturi said a downturn reminiscent of the Great Recession remains unlikely, but a slowdown in the market’s rapid price growth may be a welcome sight for the market. ‘We can’t continue at this pace, for sure,’ he said.”

The East Valley Tribune in Arizona. “The Valley’s leading analyst of the Phoenix Metro housing market last week provided data indicating the larger role investors are playing in the regional housing market. Looking exclusively at iBuyer sales, Cromford reported that purchases by institutions or large companies in the region comprised 26 percent of sales so far this year as opposed to only 10-11 percent in each of the past three years.”

“And this year, iBuyer sales by companies and institutions have steadily risen the first three quarters, going from 19 percent of all iBuyer sales in the first quarter to 27 percent in the second and trending upward again to 31 percent in the third quarter. It also said, ‘Demand is improving but a lot of this is coming from investors and iBuyers so could die away quickly. ‘Demand from ordinary home-buyers is subdued, no matter what the media might be telling you,’ it added. ‘If the iBuyers stop their spending spree then demand could fall quickly.'”

From Business Insider. “My husband and I recently bought a home in the Washington, DC, area. Battle-scarred after losing several bidding wars, we felt victorious winning our home prize. But, getting caught up in the buying frenzy of the 2021 market, we waived the right to inspect our home, which has led to some expensive surprises and costs. Having owned several other houses in our lifetime and feeling trust in our real-estate agent, we mistook some of the nice finishes and little extras, such as nice appliances and window shutters, as signs that everything was in good order.”

“Before bidding, we got to check it out for less than 45 minutes. We dashed around from room to room trying to ascertain for ourselves whether anything smelled, looked, or seemed problematic. We tried to curb our enthusiasm for the home and use critical eyes as we peeked under sinks and behind toilets, examined the below-ground basement, studied ceilings, and checked the hot-water heater and HVAC system.”

“We felt trepidation but knew our offer wouldn’t be considered if it were contingent on a home inspection. Why would two seasoned adults who have owned several homes during their lifetime make such a foolish move? And buy their most expensive home yet? We paid several thousand dollars above asking price, which was normal in this market and neighborhood. Simply put, we got swept up in the market.”

“After closing, we were living in our new home exactly one week when the kitchen sink had a major backup. It was a Friday night, so we had to turn off all the water and wait for the morning to get a plumber, who discovered a major plumbing design flaw. The kitchen was enlarged as part of an ambitious renovation. The redesign placed the kitchen sink at the far end of the kitchen and a very long way from the master drain. As a result, the sink regularly backs up, requiring a plumber to snake the master drain — an expensive and unpleasant situation.”

“Then we discovered that one of the upstairs bathrooms had a massive flood two years before we moved in. We learned this only after our bid was accepted, and we would have had to forfeit the money we’d already put forth, which was a good part of the down payment, if we backed out of the contract. The subsequent repair work was subpar, including bathroom installation, drywalling, and painting. We have been patching and repairing many of these issues as we discover them.”

“Finally, we realize the house probably still holds undiscovered surprises. We have discussed getting an inspection now to learn, after the fact, what we should have learned before we bought.”

This Post Has 86 Comments
  1. ‘Why would two seasoned adults who have owned several homes during their lifetime make such a foolish move? And buy their most expensive home yet? We paid several thousand dollars above asking price’

    Cuz yer winnahs! And you’ve had a visit from Dumpster Clause!

    1. Other tips from the Wizards of Buyers Regret:

      ‘Though experts have opined that we are not in a housing bubble, chances are the market will settle and then you can pursue your homebuying dream…Don’t trust photos online. These photos are staged, lighted, and manipulated to fool you.’

      In other words, somebody is a lion.

      1. “Don’t trust photos online. These photos are staged, lighted, and manipulated to fool you.”

        I miss those stories of condos staged with paid actors (hunks) working-out on a stair-climber machine and actresses (hotties) bringing over freshly baked cupcakes. And that red carpet treatment outside the lobby just stokes the excitement!
        It’s like shooting fish in a barrel.

    2. … and every closing is a crime scene.

      No seller disclosure? No inspection? Trusted you realtor who works for the seller’s agent?

    3. Having owned several other houses in our lifetime and feeling trust in our real-estate agent….

      I am, we Todd did.

  2. The productive economy is being destroyed by design to pave the way for The Great Reset.

    Business group warns of mass layoffs and ‘catastrophic’ supply chain disruptions from Biden’s vaccine mandate

    https://www.cnn.com/2021/10/22/business/vaccine-supply-chain-biden/index.html

    New York (CNN Business)President Joe Biden’s vaccine order will force employers to lay off thousands of workers, making the supply-chain crisis much worse, a major business group warned the White House this week.

    The National Association of Wholesaler-Distributors, an influential trade group that represents an industry with nearly 6 million workers, is pleading with the administration to delay a December 8 deadline for employees of federal contractors to get vaccinated.

    1. “The productive economy is being destroyed by design to pave the way for The Great Reset.”

      Yep.

      Step 1: Dumb ’em down.

      Step 2: Profit.

      No dumb ass left behind.

  3. Oh dear….

    Panic-stricken investors drive down Chinese developer Agile’s bonds amid rumours about its ability to repay loans

    https://www.scmp.com/business/companies/article/3153367/panic-stricken-investors-drive-down-chinese-developer-agiles

    Chinese developer Agile Group Holdings on Friday tried to reassure investors that it has enough money on hand to service debt, including off-balance sheet loans, after rumours drove down its bond prices.

    The prices of 11 US dollar dominated bonds of the Guangzhou-based Chinese developer plunged as panic-stricken investors sold the notes amid speculation that the company could struggle to make coupon payments due soon.

    “The company only has one off-balance sheet loan due in November worth US$250 million and there is no more,” an Agile spokesman said in a briefing to investors. “We have enough money to pay our debts, both onshore and offshore.”

  4. ‘purchases by institutions or large companies in the region comprised 26 percent of sales so far this year as opposed to only 10-11 percent in each of the past three years’

    ‘And this year, iBuyer sales by companies and institutions have steadily risen the first three quarters, going from 19 percent of all iBuyer sales in the first quarter to 27 percent in the second and trending upward again to 31 percent in the third quarter’

    The cheerleader is sittin’ on the bus, and you know what that means. Game over – Fooked! And they mention the REIC media is a lion. Even though they’ve been feeding the lion all this time. Buyers become sellers.

  5. In Denver’s Hale neighborhood, a huge development has added a thousand homes so far — how’s it going? (10/20/2021):

    “What’s now known as the 9th+CO development, formerly part of the University of Colorado Health and Sciences Center, boasts ultra-modern luxury apartment blocks. They include Theo and Milo, a set of townhomes called Ella CityHomes, a 55+ community called Overture, and one affordable housing complex called Ash Street Apartments. Together, the developments have brought nearly 1,000 new living spaces to the neighborhood, along with a slew of retail, restaurant and entertainment venues that have opened alongside them.”

    LOL@ I worked building “The Theo” for almost a year in 2017-2018. This is the level of “luxury” that renters overpay for in an adjacent building in the complex:

    “When we moved in, no one was living on either side of us. No one had moved in above us yet, and so it was really great for the first couple of weeks,” Pomrening said. The new neighbors weren’t noisy, but the walls were thin. “Their living room backed up to our bedroom, and we could clearly hear conversations of our neighbor next door to the point where if I recorded it, you would be able to hear what they were saying.”

    She eventually opted to terminate the lease early. “We paid a lot of money to live there, and we didn’t feel like the price we were paying was worth what we were getting”

    https://denverite.com/2021/10/20/life-in-one-of-denvers-newest-luxury-neighborhoods/

    Yes, there are p*ss bottles inside of the walls. Saunders Construction cleaned up most of them, but they didn’t get them all. The best place to stash one is out of sight between the tub and the bathroom wall. You’re paying $2000+ a month to live in a building full of p*ss bottles.

  6. median selling price of an existing U.S. house was $352,800 last month — the third consecutive drop from June’s peak of $362,800, or a 2.8% drop. ‘The days of inventory being down 20% or 25%, those days are over’

    Wa happend to my red hotcakes Larry?

    ‘it’s like a light switch suddenly turned off’

    Ah ha! The old light switch phrase.

    ‘In some destinations builders who could hardly put up homes fast enough now have inventory sitting. Homes started when the market looked unstoppable are getting discounted as they’re completed. A Toll Brothers Inc.house in Nampa is on sale for $575,000, down $44,000 since it was listed at the end of June. CBH Homes, the most prolific builder in Idaho, has 100 Canyon County homes with active listings on Realtor.com. As of Friday, 80 have price reductions’

    And this does what to previous winnahs? Shirley, they’ll stop building.

    Nope.

  7. ‘Between July and September, 14,868 single-family homes and condos sold in Palm Beach, Broward and Miami-Dade counties. That’s just half of the 29,992 that closed in the second quarter’

    Is that a lot?

    1. And the third quarter was the supposed peak of the frenzy, AND we’re talking about Florida where “everybody is moving to as fast as possible”. What could go wrong?

  8. ‘It was a Friday night, so we had to turn off all the water and wait for the morning to get a plumber, who discovered a major plumbing design flaw’

    The good old Saturday plumbers rate.

    ‘The kitchen was enlarged as part of an ambitious renovation. The redesign placed the kitchen sink at the far end of the kitchen and a very long way from the master drain. As a result, the sink regularly backs up, requiring a plumber to snake the master drain — an expensive and unpleasant situation’

    Recurring too, don’t ferget that!

  9. Memo to Hollywood: No old-school armorer would’ve made such a fatal error. In jobs where people’s lives could be on the line, maybe competence and experience should trump diversity and inclusiveness.

    ‘I wasn’t sure if I was ready’: The 24-year-old armorer who had doubts before being put in charge of guns on Alec Baldwin film set where he shot cinematographer dead – after some crew walked out over safety

    https://www.dailymail.co.uk/news/article-10123003/I-wasnt-sure-ready-Doubts-head-armorer-24-charge-guns-Alec-Baldwin-film.html

    The 24-year-old head armorer in charge of guns on Alec Baldwin film where cinematographer Halyna Hutchins was tragically shot and killed on Thursday had admitted she wasn’t sure she was ready for the job in an interview before filming started.

    ‘I almost didn’t take the job because I wasn’t sure if I was ready, but doing it, it went really smoothly,’ Hannah Gutierrez-Reed said in a podcast interview last month after leading the firearms department for The Old Way, starring Nicolas Cage – her first time as head armorer.

    1. Alec Baldwin, like any actor who rises to fame in globalist-controlled Hollywood, is strongly anti-gun rights. A word of advice from someone familiar with firearms: if you’re going to be handling firearms on-set, it is YOUR responsibility – no one else’s – to make damn sure there’s no live rounds in the chamber before you point that gun at someone and pull the trigger. You never, ever delegate that job to someone else, especially half-assed diversity hires.

      Worker in charge of Alec Baldwin’s prop gun was replacement hire amid on-set chaos, safety concerns

      https://nypost.com/2021/10/22/replacement-non-union-worker-was-in-charge-of-alec-baldwins-deadly-prop-gun/

      The prop master who handled the gun that killed the cinematographer on Alec Baldwin’s film “Rust” was “just brought in” amid a protest over conditions on the set, The Post has learned.

      The unidentified employee was hired to replace someone else amid chaos on the set, according to a source involved with the movie.

      Another source briefed on the situation told The Post that a crew of workers had walked off the film’s set at the Bonanza Creek Ranch near Santa Fe, NM, Thursday morning over what they alleged were poor safety protocols, before Baldwin, 68, fired the gun later that day.

      1. Something to note: Alec Baldwin was not just the lead actor, he was also the producer on this film. That does not bode well for him. He can’t plead that he didn’t know what was going on, on set. It’s entirely possible that he himself vetted those replacement armorers.

    2. Am I the only one who 100% could see Alec Baldwin losing his mind and pointing the gun at someone and pulling the trigger? Is it just me?

  10. For the sake of America’s gene pool, anyone who approves of the job Brandon is doing should immediately be sterilized, as well as being banned for life from voting. Even fake MSM polls can’t hide how unpopular this bumbling incompetent and dictator wanna-be has become, especially among the non-parasite portion of the population.

    Biden loses more support than any other president since WWII: Approval ratings in his first nine months nosedive by 11% as independents abandon him and just 42% of Americans think he’s doing a good job

    https://www.dailymail.co.uk/news/article-10120941/Biden-loses-support-president-9-months-office-Approval-just-42.html

    Joe Biden has disappointed Americans more than any other president since World War II has at this point in their term, a new Gallup poll released Friday appears to show.

    The newest data is from a survey taken from October 1 – 19 and compares Biden’s average approval rating across the first three quarters of his term against every president since Dwight Eisenhower.

    1. Just wait until the economy nosedives. Within the next year, we will have either a massive stock market crash or massive hyperinflation; possibly both. Not to mention the stims running out. That’s why the Dems are so desperate to pass their human infrastructure.

      1. Turtle Boy would be smart to stonewall on Build Back Better to accelerate the crash and pin the blame on Brandon.

        #LetsGoBrandon

    2. 42% of Americans think he’s doing a good job

      Nobody thinks he is doing a good job. Nobody.

      Pols are BS.

  11. #FJB

    Vaccine Mandate Wrecking Balls Are Tearing the Country Apart

    https://townhall.com/columnists/jonathanemord/2021/10/23/vaccine-mandate-wrecking-balls-are-tearing-the-country-apart-n2597917

    Vaccine mandates are interfering with the provision of goods and services; causing shortages of experienced health care workers, of police and of firefighters; culling the ranks of the military; causing experienced intelligence officers to resign, be put on leave, or be fired; and exacerbating supply chain problems. As more mandates are imposed, more resignations, early retirements, and terminations will ensue. Predictably many otherwise served by the employees pushed out will find themselves helpless or with substandard care, resulting in preventable deaths and injuries. The rise in unemployment from the mandates will leave many able-bodied people out of work, harming them and their families, and retarding economic recovery or precipitating a recession.

    1. Thise health care workers were front line for 18 months without a vaccine. Now they are being fired for not getting one.

      Two classes in America now.
      1. The Deplorables. (Patriots, Constitutionalists)
      2. The Untouchables (‘elite’ & illegals)

      1. Globalist propaganda outlets are clutching their pearls at the prospect of jailed January 6th “insurrectionists” becoming more radicalized behind bars. That’s entirely possible when our corrupt, Democrat-controlled two-tier justice system is trying to grind them to powder while BLM and Antifa arrested for far worse crimes get off scot-free and the really big criminals on Wall Street and inside the Beltway commit felonies with impunity. Good luck “de-radicalizing” guys who’ve had first-hand experience with how much the system hates and reviles them, while massed public chants of “FJB” have shredded the globalists’ Big Lie of “Most Popular President Ever.”

        Capitol Rioters in Jail’s ‘Patriot Wing’ Have Their Own Rituals and a Growing Fan Base

        https://www.vice.com/en/article/akvwjp/january-6-rioters-jailed-together-forming-rituals-fanbase

        Experts worry that a lack of de-radicalization efforts in jail could mean inmates falling further into the narrative that led to the January 6 violence in the first place.

        At 9 p.m. every night, inmates in the so-called Patriot Wing of the D.C. Correctional Treatment Facility reportedly stand at attention and sing The Star-Spangled Banner. You can even listen, if you want, to an alleged recording of it on the website called The Patriot Freedom Project.

        Inmates had also started their own handwritten newsletter and passed it from cell to cell, one detainee told NBC 4.

        1. You know what they say, one day you’re singing the Star Spangled Banner, the next you’re making pipe bombs.

        2. Not only did BLM get off Scott free, Kamala Harris bailed them out before having their cases dismissed.
          She was California’s AG and SF DA prior to her coup.

      2. It’s not just workers. A friend of mine in San Diego was told he won’t be allowed in the clinic where his doctor’s office is if he doesn’t take the kielbasa.

        They are going to keep pushing this pedal to the metal. They can’t role out the next stage of the NWO without direct unfettered access to your biology. This is not a drill. They are going for all the marbles.

  12. The Colorado Sun actually does journalism, unlike the REALTOR fellating Denver Post. They’ve had a series of excellent articles about the housing CRISIS in Colorado. Here’s several of them:

    https://coloradosun.com/2021/10/20/silverton-colorado-housing-shortage/

    https://coloradosun.com/2021/10/19/colorado-small-towns-housing-infrastructure/

    https://coloradosun.com/2021/10/18/housing-shortage-southwest-colorado/

    https://coloradosun.com/2021/10/04/affordable-housing-crisis-mesa-county-colorado/

    https://coloradosun.com/2021/09/21/colorado-resorts-breckenridge-short-term-rentals/

    https://coloradosun.com/2021/09/07/housing-demand-home-builders-labor-shortage/

    https://coloradosun.com/2021/08/30/colorado-high-country-vacancy-rates/

    Summary: Colorado is over. It’s just about over. AirBnb and the CCP Flu equity locusts destroyed Colorado. The past few years have confirmed that vote like California = become California.

    This last one is what the future of Colorado will look like, forever, but with more violence, more trash, and more fires:

    https://coloradosun.com/2021/08/23/homeless-camping-colorado-national-forest/

    1. It started with the weed. Any supposed tax windfalls were quickly sucked up by services for the homeless that flocked to the state.

      1. Are the homeless really that mobile that they can choose what state to migrate to based on the viscosity of its gravy?

        1. They use the last of their cash to get to a gravy state like CO or CA, and then fall into total destitution shortly after they arrive.

  13. YouTube censors, because they are globalist cucks:

    “Rapper Bryson Gray announced on Twitter Thursday that his music video poking fun at President Joe Biden was removed from YouTube due to “medical misinformation.”

    “YouTube has banned ‘Let’s Go Brandon’ song from YouTube due to ‘medical information,’ Gray posted on Twitter. “What medical misinformation is in the song? Whoa.”

    https://www.foxnews.com/politics/youtube-deletes-rappers-lets-go-brandon-song-medical-misinformation

    YouTube are cucks. Watching too much YouTube can turn you into a cuck, so be careful with those YouTube links.

    We support Bitchute, because Bitchute supports free speech.

  14. “ We learned this only after our bid was accepted, and we would have had to forfeit the money we’d already put forth, which was a good part of the down payment, if we backed out of the contract..”

    Never use a standard realtor contract.

    1. the standard realtor contract has about 8 contingency clauses in it. Unless you check the corresponding 8 boxes to waive said contingency clauses. Which is obviously what these two “seasoned real estate pros” did.

      1. ‘Which is obviously what these two “seasoned real estate pros” did.’
        😁

        Gotta love their flowery liar language.

        1. And in Florida … is a serial crime scene. The builders contacts and standard RE contract is felonious but sanctioned by the lawyers who steal vast sums on a daily basis with vague terms about closing costs, refunds with no time limit is and a slew of Sherman anti trust machinery violations in place.

          1. If the construction contract isn’t subject to AIA and EJCDC, throw it in the garbage. Its not a contract.

  15. Just saw some video of a large crew of what looked to be a large well organized, well covered by the MSM caravan of “undocumented migrants” in Tapachula Mexico carrying “Joe Biden is For All” and “We Come in Peace” signs and chanting what the reporter said was an Obama campaign slogan in Spanish as they started their march towards what used to be known as our Southern border with Mexico.

    Border apprehensions hit yearly high as another migrant caravan gathers in Mexico

    Oct. 20, 2021, 5:04 PM EDT
    By Julia Ainsley

    WASHINGTON — Apprehensions of undocumented migrants crossing the southern U.S. border passed 1.7 million in fiscal year 2021 to hit an all-time high, according to Customs and Border Protection data obtained by NBC News, as U.S. officials turn their attention to a huge new caravan of migrants in southern Mexico that may head north as soon as this weekend.

    https://www.nbcnews.com/politics/immigration/border-apprehensions-hit-new-yearly-high-another-migrant-caravan-gathers-n1281995

    1. No thanks to Ted Kennedy’s 1965 immigration act wherein he served the globalists who killed his brother. A traitor and treasonist of the lowest.

  16. H/T Aaron Layman – Twitter

    – Yes, there’s a “shortage” of houses… /s

    – Something no Realtor or globalist will ever tell you, but this guy’s on it.

    https://betterdwelling.com/the-world-has-millions-of-vacant-homes-and-1-3-million-are-in-canada-oecd/#_
    Canada
    The World Has Millions of Vacant Homes, and 1.3 Million Are In Canada: OECD
    October 22, 2021
    Stephen Punwasi

    “The whole world is undergoing a housing shortage, but vacant homes are barely budging. The OECD‘s latest data drop shows 42 million of its 426 million homes are vacant. Yes, roughly one in ten homes in advanced economies are empty. There are literally years of housing supply being used as an alternative to gold.”

    “Rather than pondering why it’s so attractive to have vacant homes, many countries doubled down on reasons to hoard. If we only build more homes and give the investors cheap money, there can be enough to hoard too, right? I mean, you almost tried, so partial points. Let’s take a look at how bad the issue has become.”

    Canada Has Over 1.3 Million Vacant Homes, About 6 Years of Supply

    “Canada has one of the highest numbers of vacant homes in the world. The OECD’s latest data shows 1.34 million homes were vacant, or about 8.7% of the country’s 15.41 million homes in total. That works out to nearly 1 in 12 homes, or 6 years of housing supply at the average construction rate from 2016 to 2019. Canada has the fifth most vacant homes of the group of advanced economies.”

    America Has The Most Vacant Homes In The World

    “U-S-A! U-S-A! The birthplace of the chicken-fried everything is also the king of vacant homes. The latest data shows 15.55 million homes were vacant, about 11.1% of the country’s 139.68 million homes. That works out to 1 in 9 homes, or nearly a decade of supply for the country. No other country is even close to that volume of vacant homes. Japan, notorious for its vacant homes, is in second, and it has nearly half the number.”

    – This article emphasizes the facts that a) governments encourage cross-border speculation in housing, b) that housing – now fully financialized – is just another commodity asset class, with assoc. price volatility, albeit on a longer time scale due to illiquid markets, and c) there’s no housing “shortage,” and that’s something you’ll never hear from a Realtor, since there are commissions to be made.

    Additional excerpt from the article here. This is mostly about the Canadian market, but could just as easily apply to the U.S. market. Globalists gotta globe.

    Fixing The Incentives To Hold Vacant Housing Will Be Like Unleashing Years of Supply

    “Vacant housing might not seem like such a big deal in a higher rate environment. High rates mean needing to put property to the best use, since carrying costs increase profit risk. The current low rate setup is ideal for building up a portfolio of vacant properties though. If prices rise fast enough, you can even borrow cheap debt against the vacant property to realize the wealth. Or buy another property, as is the Canadian way.”

    “This isn’t an accident. Some of the wealthiest people in the world are being advised to do this. It exploits a well-intended tax policy designed to “help” families. In reality, it makes it worse. It’s hard to convince the people on the wrong end of property speculation that more expensive debt makes housing cheaper though.”

    – Finally, the author’s Twitter page is worth reading.

  17. Screw with my family business and I will label you a domestic terrorist and sick the FBI on your @ss.

    Panorama Education, Co-Founded By U.S. AG Merrick Garland’s Son-In-Law, Contracted With 23,000 Public Schools & Raised $76M From Investors

    Adam Andrzejewski
    Oct 12, 2021

    Last week, AG Garland sent a memo to the head of the FBI, directing him to work with local law enforcement “to address threats against school administrators, board members, teachers and staff.”

    Critics say that Garland made the move in response to parents vocally opposing mask mandates and race-related teaching implemented by local school boards.

    Nevertheless, the move by Garland to have the FBI investigate parents at school board meetings quickly put his son-in-law’s nationwide education business in the spotlight.

    Garland’s son-in-law is Xan Tanner, co-founder, board member, and president (2012-2020) of Panorama Education. Panorama Education sells surveys to school districts across the country that focus on the local “social and emotion climate.” These surveys are then used as justification for new curriculum from other providers that some parents call critical race theory and find objectionable.

    Tanner’s company has a large footprint with contracts in 50+ of the nation’s 100 largest school districts. The company describes its business as supporting “13 million students in 23,000 schools and 1,500 districts across 50 states.”

    Raised $76 million from powerful investors since 2017

    In 2017, Panorama raised $16 million in a private funding led by Emerson Collective, with participation from Spark Capital, Owl Ventures, SoftTechVC, and the Chan Zuckerberg Initiative — owned by Mark Zuckerberg, the founder of Facebook and his wife Priscilla Chan.

    https://www.forbes.com/sites/adamandrzejewski/2021/10/12/panorama-education-owned-by-us-ag-merrick-garlands-son-in-law-contracted-with-23000-public-schools-for-social–emotional-climate-surveys/

  18. The globalist media has finally been forced to address the huge and growing popular antipathy for its Anointed One.

    Biden’s critics hurl increasingly vulgar taunts

    https://www.stamfordadvocate.com/news/article/Biden-s-critics-hurl-increasingly-vulgar-taunts-16556990.php

    BOISE, Idaho – On a quiet street south of downtown Boise, Michael Dick has festooned his front yard with homemade signs, including a large yellow placard that facetiously thanks President Joe Biden for a growing list of grievances – $4-a-gallon gas, inflation, Afghanistan, covid-19. In capital letters in black marker, Dick, 59, recently added “dead civilians” and “dead U.S. soldiers” to his bill of particulars.

    In another part of town, alongside a “No trespassing” sign, Michael Schwarz, 60, used black spray-paint to scrawl “Joe Blows” across an electric-pink poster board.

    1. What a pearl clutching article.

      Turnabout is fair play. We’re gonna take Maxine Waters’ advice, direct it at the Democrat Party and their braindead voter base, and we’re gonna turn it up to eleven.

      The 2020 election was stolen.

  19. Report: Joe Biden Builds ‘Wall’ Around His Delaware Beach House, Makes America Pay for It

    NICK GILBERTSON
    22 Oct 2021

    The Department of Homeland Security (DHS) reportedly shelled out $456,548 to a construction company in Delaware to install a fence around President Biden’s Delaware beach house, according to newly-released records.

    A federal contract, reported by the local Cape Gazette on Thursday and by the New York Post on Friday, shows that DHS awarded $456,548 to the recipient, Turnstone Holdings, LLC, according to USA Spending, a website that tracks federal spending.

    The contract’s “start date” is September 21, 2021. The “potential end date” and “current end date” are both listed as December 31, 2021.

    The Cape Gazette — which refers to the project as a “wall” — noted:

    As of Oct. 20, construction on the wall had not started, but according to the website, it is expected to be completed by the end of the year.

    Biden purchased the North Shores home in summer 2017. County tax records show he paid $2.7 million for the property.

    https://www.breitbart.com/politics/2021/10/22/dhs-shells-out-450000-for-wall-around-bidens-summer-home/

    1. I got that tweet came from this article

      INVASION: Massive Migrant Caravan Breaks Through Mexican Forces On Way To U.S. Southern Border

      by Jamie White
      October 23rd 2021, 12:06 pm

      Every migrant in caravan has received a QR code from NGOs, highlighting the sophisticated nature of this open-border operation to collapse American sovereignty.

      Another enormous migrant caravan thousands-strong has mobilized and is making its way up through Mexico to the U.S. southern border.

      The migrants, who are mostly from Central America, departed Tapachula, Mexico, which sits on the border of Guatemala, on Saturday en route to Mexico City.

      https://www.infowars.com/

  20. Maybe that’s why they’re flying those undocumented kids from Texas into Westchester Airport in the middle of the night. 🙂

    Greenwich may face ‘tough decisions’ as school enrollment drops

    182 fewer students are enrolled in Greenwich Public Schools compared to last school year, with a drop of 467 students over the last five years.

    Ken Borsuk
    Oct. 22, 2021

    https://www.greenwichtime.com/news/article/Declining-enrollment-at-Greenwich-schools-could-16555380.php

  21. It gets weirder

    Why would Baldwin aim it to a person and pull the trigger? A weird coincidence, the husband of Hutchins works with the law firm that represented Michael Sussman, who was just indicted by Durham. He worked previously with the same law firm of Bill Barr.

    That Alec Baldwin…
    Pointed His Gun At The Cinematographer…
    Then Pulled The Trigger.
    That’s Literally The Definition Of Criminal Manslaughter.

    Why was the gun pointed at a non actor?

    Why is live ammo on a TV set?

    An assistant director, Dave Halls, grabbed a prop gun off a cart ..
    This same guy Halls was on the TV set when Kudo guy Bruce Lee’s son was shot and killed.

      1. It appears that once a critical mass of debt has been established then there’s a “no holds barred” effort unleashed to keep it from becoming non-performing debt.

  22. “In spring through July, buyers were waiving everything, in many cases, just to seal the deal, she said. They would offer creative incentives, such as letting the seller leave things in the house they didn’t want to move. They nicknamed this trend ‘the Dumpster clause.’”

    Stupid knows no limits in this mania. Got rotten garbage?

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