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Cutting Its Losses, Leaving Sellers Holding The Bag

A report from the Phoenix Business Journal. “Homebuyers across the country are furious with Zillow Group Inc for canceling contracts. Compounding the issue is the fact that many of these homeowners are waiting for their new construction homes to be completed, pushing the sale of their existing homes to Zillow until early next year. Jerry Culpepper had a sale agreement with Zillow for $351,085 for his home in Marietta, Georgia, that was set to close in February in time for their new home to be completed in Florida. ‘We tried to change our closing date to Dec. 31, 2021, or even in January, but she said that nothing could be changed,’ Culpepper said. ‘They have put us in a very difficult and stressful situation.'”

“Greg Hague, founder of Scottsdale-based 72 Sold, said Zillow saw the housing marketing softening and appreciation slowing. ‘I think it strategically overpaid for homes to gain market share, impress its shareholders, and push up its stock price,’ Hague said. ‘Now Zillow recognizes it’s likely to get burned because home appreciation won’t cover the inflated prices it paid. So it’s cutting its losses now, leaving those home sellers holding the bag; people who may have planned on the equity Zillow promised.'”

“The home flipping business offers a no-win proposition for home sellers, Hague said, with firms closing on homes if they think they can make a quick buck and walking away if they discover they are overpaying. ‘To me, the big bad on Zillow is tying up homes with a fine print clause that lets then walk away when they don’t think they’ll make money,’ Hague said. ‘Did the sellers who counted on money from the sale realize Zillow’s contract wasn’t really a contract; it was a one-sided option in Zillow’s favor? I doubt it.'”

The Oklahoman. “Zillow’s exit from iBuying — paying cash fast for houses (the i stands for instant) — has lots of Realtors singing ‘ding dong the wicked witch is dead.’ Make that zinging. Selling to Zilllow saves a seller from paying a real estate agent commission. The less iBuying the less threat to Realtors’ livelihood. Zillow said its house flipping failure would cause it to let go of a fourth of its workforce and take write-downs of up to $569 million. The debacle ‘made my job easier because now I can give my clients 569 million reasons the ‘Zestimate’ should be ignored,’ said Matt Eakle, a real estate investor and agent with Homestead & Co.”

“Zing! Bazinga even! Here’s another one: ‘YEET THEM INTO THE SUN,’ said Will Flanagan, an agent with Kevo Properties, wrote. (Yeet means hurl.)”

“Known for speaking his mind, agent, Scott A. Martin said Realtors brought their troubles on themselves. Note: He is a Realtor (meaning he is a member of the National Association of Realtors and a local Realtors group). ‘The way Realtors act towards Zillow is almost humorous,’ he said. ‘It’s just simply mind boggling to watch this industry as they express their frustrations and anger and even their hatred towards Zillow, while they also continue to blindly pay their local, state and national association dues — and they seemingly do so without question or concern.'”

“Realtors are inconsistent with their complaints, Martin said. ‘I just don’t recall any Realtors getting frustrated or angry when these other big-box websites, in other industries, started shutting down our small, locally owned businesses,’ he said. ‘As a matter of fact, almost every Realtor that I know has a Netflix account and an Amazon account. Need I keep going? It’s as simple as supply and demand. These big-box websites are simply supplying exactly what the consumers are demanding, and exactly what our industry and our associations have failed to supply.'”

“Zing!”

The Los Angeles Times in California. “Serena Shi’s taste for luxury seemed insatiable. Those trappings of the high life were gone when Shi, 37, shuffled into a federal courtroom in Los Angeles one recent afternoon wearing a beige jail jumpsuit with clanking chains dangling from her wrist and ankle shackles.”

“Speaking through a Mandarin interpreter, Shi admitted that she’d duped scores of investors in China into making $23 million in down payments on condos in California. They thought they were buying units in a trendy resort that Shi was supposedly building on a 47-acre patch of desert in Coachella. The project never broke ground.”

“Shi promoted the resort in forums on WeChat, the Chinese social media app. Green cards, she suggested, would be available to buyers who qualified for ‘EB-5’ visas under a program to attract foreign investors in U.S. businesses. The scale of Shi’s three-year swindle stunned investors, who hired lawyers in California to file long-shot lawsuits to recover losses. ‘I’ve been suing crooks for a living, and she was pretty far up there on the brazenness scale,’ said Justin J. Shrenger, one of the attorneys.”

“To pull the project together, she hired James D. Clark, an Arizona business consultant. After a nasty break with Shi, Clark would become a key witness for the FBI. In Beverly Hills, Shi leased an office suite on the 11th floor of a tower with a facade of curved black glass, just across Wilshire Boulevard from Neiman Marcus. Clark recalled walking with Shi down Rodeo Drive and stopping in Saint Laurent, Valentino and other haute couture stores where she spent tens of thousands of dollars on clothes she did not bother to try on. ‘I want this, this, this, this,’ she would tell sales clerks, Clark said.”

“Today, the land where Shi and Nazarian envisioned a resort that would define desert cool remains as barren as ever. ‘She took everybody’s money and ran,’ said Steven Hernandez, the mayor of Coachella. ‘Investor beware.'”

From Roger Montgomery. “The key driver for the short and medium-term direction of the Australian property market can be boiled down to just three words: access to credit. And, right now, the conditions for credit access are getting tighter. To my mind, it all points to a property market that is about to lose its froth. While agents try to explain the conditions as a function of a shortage of supply, or lockdowns, or a pre-Christmas rush, the reality is that there is one indicator that explains it all.”

“We don’t have a crystal ball but we do believe all of these factors fall under the umbrella provided by an indicator that explains the majority of short and medium-term movements in property prices in Australia. Some years ago, we explained the direction of the property market can be explained by access to credit. Whether it’s the TFF, yield curve targeting, first home buyers grants, APRA restrictions on investment and interest-only loans, or some other macro-prudential measure, it all falls under access to credit.”

“Loosen access to credit and house prices rise. Tighten or restrict access to credit, by any measure, and all of a sudden properties are being passed in at auction and real estate agents are scrambling to explain what’s going on.The conditions for credit access are changing. In early October APRA announced an increase in the minimum interest rate ‘buffer’ it requires banks to employ when assessing serviceability for new home loan applications. The buffer was increased from 2.5 per cent to three per cent above the rate offered on the product.”

“Additionally, the cost of access is rising. As Figure 1., below reveals, the cost of bank funding is rising. It all points to a property market cooling.”

From Caixin Global. “Long blessed with licenses that allow them to invest in a wide range of assets, Chinese trust firms poured the money they manage and channeled bank loans into property developers such as China Evergrande Group. But now with Evergrande in crisis and many other property developers also missing debt payments, these investments have come back to bite the trust industry.”

“Caixin learned that debt-ridden real estate giant Evergrande failed to pay interest on multiple trust products on time in September, and some trust products that had invested in the developer were in default by the end of October, including those of Citic Trust Co. Ltd., The National Trust Ltd., China Minsheng Trust Co. Ltd. and Everbright Xinglong Trust Co. Ltd. Losing money from their property investments, some trust companies are now suffering high liquidity pressure that has in turn prompted them to scale back their immense investments in the real estate sector.”

The South China Morning Post. “Major cities in China are slashing the price of land they are auctioning off. Beijing put 12 parcels of land on the market on November 19, including two in eastern Chaoyang district with a combined reserve price of 4.8 billion yuan (HK$5.9 billion), 15 per cent lower than they were priced in September. Hangzhou in eastern Zhejiang Province cut the price of four plots that had to be scrapped from the last round because of a lack of interest by as much as 15 per cent. Guangzhou, capital of Guangdong Province, auctioned six plots that did not find a buyer in September’s land auction, with prices down as much as 20 per cent.”

From Bloomberg. “Chinese Estates Holdings Ltd., a long-time supporter of China Evergrande Group, has further cut its stake in the embattled property developer. The Hong Kong firm, led by Chief Executive Officer Chan Hoi-wan, sold about 270 million Evergrande shares since its last disclosure on Oct. 6, lowering its stake to 2.36% as of Friday, according to a filing late Tuesday. It revised its expected loss if it got rid of all of its holding to HK$10.6 billion ($1.4 billion) from HK$10.4 billion last month.”

“Separately, Chinese Estates said it saw a HK$1.4 billion loss from offloading its notes in another cash-strapped developer, Kaisa Group Holdings Ltd. Kaisa’s stock slumped 73% this year before trading was halted.”

This Post Has 100 Comments
  1. ‘Today, the land where Shi and Nazarian envisioned a resort that would define desert cool remains as barren as ever. ‘She took everybody’s money and ran’

    That’s some red hotcakes right there.

  2. ‘We tried to change our closing date to Dec. 31, 2021, or even in January, but she said that nothing could be changed,’ Culpepper said. ‘They have put us in a very difficult and stressful situation’

    Just to show how complicated this is, Jerry seems to be straddling bargaining, depression, and acceptance all at once.

    1. What’ll these sad sacks gonna do if Zillow pulls all the way out of their purchase deals? The volume of foot stamping could become deafening.

  3. ‘The key driver for the short and medium-term direction of the Australian property market can be boiled down to just three words: access to credit. And, right now, the conditions for credit access are getting tighter. To my mind, it all points to a property market that is about to lose its froth. While agents try to explain the conditions as a function of a shortage of supply, or lockdowns, or a pre-Christmas rush, the reality is that there is one indicator that explains it all’

    Bingo Roger! Zing! So now these central banks are all preparing for the great break off, was this the plan all along? I think so.

    You can argue that 5 or 10 or 12% price increases here or there could be lazy central bankers. This bat sh$t crazy 40-60% everywhere could only end one way. And they knew it. Remember, they said – in unison – last year, you’ll own nothing and like it.

    1. “‘The key driver for the short and medium-term direction of the Australian property market can be boiled down to just three words: access to credit.'”

      That’s only half of it. This access to credit needs to be allowed access to mass multitudes of totally dumbed-down ignorant pukes so that these ignorant pukes can pitted against each other in insane bidding wars.

      “When you combine ignorance and leverage, you get some pretty interesting results.” – Warren Buffett

      1. An article from last May …

        Almost Three-Quarters of Homebuyer Offers Faced Bidding Wars In April
        https://www.redfin.com/news/real-estate-bidding-wars-april-2021/

        (snip)

        “With spring homebuying season in full swing, there are no signs that the market will slow down anytime soon, according to Boise, ID Redfin real estate agent Kristin Lopez.”

        Note: This article was written right about the when the R.E. market peaked.

        (snip)

        “Bidding wars are intensifying,” Lopez said. “In March, we were seeing three or four offers on a home. Now, we’re sometimes seeing more than 20.”

  4. ‘The debacle ‘made my job easier because now I can give my clients 569 million reasons the ‘Zestimate’ should be ignored’

    Pedro : Man, what is in this zillow, man?

    Man Stoner : Mostly Maui Waui man, but it’s got some Labrador in it.

    Pedro : What’s Labrador?

    Man Stoner : It’s zillow.

    Pedro : What?

    Man Stoner : Yeah, my dog ate my stash, man.

    Pedro : Yeah?

    Man Stoner : I had it on the table and the little m-fucker ate it, man. Then I had to follow him around with a little baggie for three days, man, before I got it back. Really blew the dog’s mind, ya know?

    Pedro : You mean we’re smokin’ zillow, man?

  5. Today is Wednesday, November 24th and Joe Biden is not the legitimately elected president of the United States.

    C-SPAN Washington Journal’s opening segment today asked viewers to call in about gas prices and inflation.

    The Democrat Party wants all of you to starve to death while shivering in the dark. Especially if you are white, because the Democrat Party is the party of entrenched, institutionalized, anti-white hatred. If you are white, the Democrat Party wants you dead, wants all children raped, and your country overrun with the illiterate dregs of the third world.

    Happy Thanksgiving!

        1. In my misspent youth, my buddies & I would cruise around in the wee hours of the morning looking for those Christmas deer front yard decorations, which we would then re-arrange as rutting buck meets doe in heat. The good citizens of our small town were predictably scandalized.

  6. The MSM called Kyle Rittenhouse a white supremacist who was driven across state lines by his mother with a weapon of war to hunt mostly peaceful BLM protesters and they call what this career criminal who has a “violent hatred for white people” did a “parade tragedy”

    8-year-old dies from injuries suffered in Wisconsin Christmas parade tragedy

    By: TMJ4 Staff
    Posted at 5:39 PM,

    WAUKESHA, Wis. — An 8-year-old boy has died from injuries suffered in Sunday’s tragedy at the Waukesha Christmas parade.

    https://www.abcactionnews.com/news/national/8-year-old-dies-from-injuries-suffered-in-wisconsin-christmas-parade-tragedy

    Christmas Parade Killer Drove in Zig Zag Pattern to “Hit as Many” People as Possible

    by Paul Joseph Watson
    November 24th 2021, 5:52 am

    Eyewitness reports in affidavit confirm attack was deliberate.

    The affidavit against the Christmas parade killer states that Darrell Edward Brooks Jr drove in a zig zag pattern in order to “hit as many” people as possible, confirming yet again that the massacre was a deliberate attack.

    Ever since the incident, the media has tried to play down any possibility that the attack was motivated by Brooks’ extremist political views, his support for BLM or violent hatred for white people.

    According to eyewitness Officer Butryn, the vehicle “appeared to rapidly accelerate” and “took an abrupt left turn into the crowd of parade participants.”

    Officer Butryn then observed the vehicle “to be intentionally moving side to side, striking multiple people.”

    Another eyewitness who spoke to police at the scene said the SUV was driving in a zig zag pattern with “a direct intent to hit as many parade participants.”

    As Chris Menahan notes, the media is still referring to the massacre as a “parade crash” or even an “accident,” refusing to acknowledge that it was a deliberate attack

    It’s becoming abundantly clear that this was a domestic terror attack, or at least a violent hate crime massacre, motivated by Brooks’ race hate and political extremism.

    https://www.infowars.com/

    1. Jeff, the media silence on this Wisconsin hit and run murderer confirms everything we’ve ever discussed about Real Journalists on this blog.

      President Donald J. Trump was, in fact, correct when he stated that “the media is the enemy of the American people.”

    2. “It’s becoming abundantly clear that this was a domestic terror attack, or at least a violent hate crime massacre, motivated by Brooks’ race hate and political extremism.“

      – At least 6 people died. 47 or 48 seriously injured. SUV vs. human beings.
      – Objective analysis points to this (yes, terrorist) attack as a willful response to KR verdict.
      – KR verdict was correct. Self defense. Justice served. No racism.
      – And yet: a) MSM response = crickets (silence), or outright lies. MSM = Satan’s minions. Think Joseph Goebbels and you won’t be far wrong.
      – BTW, the perp was RELEASED from custody on a mere $1000 bond.
      – Not that it makes any difference, but this was a Christmas parade. The attack was pure evil. No difference than if ISIL did it.
      – Wake up America!

      1. “Wake up America!”

        This blog is awake.

        You mention Goebbels, but Julius Streicher is a more apt analogy for Real Journalists.

  7. “Selling to Zilllow saves a seller from paying a real estate agent commission. The less iBuying the less threat to Realtors’ livelihood.”

    That’s too bad, I want them both gone.

        1. I now avoid Dumver like the plague. I won’t be attending any more Pop Culture Fan Conventions in Dumver. There really is no point as they really are just DNC townhalls now anyway.

      1. “California Gov. Gavin Newsom recently signed a new law in which he made shoplifting, even below $950, a crime but only when an organized syndicate is behind it and they plan to resell the stolen goods.”

        Oh? And why did Newsome decide to do that?

        “The thefts are reportedly part of organized crime networks that recruit mostly young men for $500 to $1,000 to steal high-value store merchandise. The goods are then shipped to other parts of the country or resold online. The number of crimes has seen an increase during the holiday season, according to law enforcement officials.

        “’Crew bosses organize them, they’ll give him the crowbars, and in some cases even rent them cars, or provide them with escape routes or a list of products to actually go out and steal. It looks very chaotic but it’s actually very well organized,’ Ben Dugan, president of the Coalition of Law Enforcement and Retail, said to ABC News.

        “Retail security guards are not equipped to handle such aggressive criminal behavior. They’re not trained to subdue suspects or pursue them, but instead, to simply ‘observe and report,’ according to mall security expert David Levenberg.

        “’The value of the merchandise is not worth somebody being injured or killed,’ he told ABC News.

        “Levenberg added that cities with progressive prosecutors like Los Angeles and San Francisco are the hardest hit. ‘The consequences are minimal and the profits are substantial,’ said Levenberg.

        “Many do not consider the recent spate of thefts in places like San Francisco as ‘shoplifting’ because the term denotes an effort to conceal the crime.

        “One of the reasons behind this increase in criminal behavior is that, according to California state law, stealing merchandise worth $950 or less is just a misdemeanor, which means police won’t bother to go after the criminals. In cases when they do, and capture the perpetrator, prosecutors will let it go.”

        😁

        https://www.theepochtimes.com/mkt_breakingnews/brazen-shoplifting-and-traumatized-staff-impacting-company-profits-best-buy-ceo_4121479.html

        1. What is it about a take over by parasites, looters, burners, criminals , fraudsters , psychopaths, killers , monopolies ,that people don’t understand.

          Globalists Monopolies / Money Changers/ Elite Billionaires and some with trillions are trying to take over US and other Countries.

          If you have no borders, you have no Country, simple as that.

          If you have Fraud News, with censorship of dispute, than the First Amendment has been taken.

          If you have Big Pharmacy product maker dictating Public health policy, while they have immunity, than you have Medical Tyranny, designed to loot tax coffers, and make lab rat expierments out of the public , while all dispute and evidence of harm is censored. A licence to kill by the capture of regulatory and protective agencies and lockstep Government Police State over taking of freedoms by contrived emergencies as grounds for usurping Constitution protections.

          Lock downs that destroyed small business, to enrich Monopolies with relief packages looted from the government. All as a wealth transfer to Monopolies. Eliminate the competition, bankrupt them, improvished them so the Monopolies become bigger, stronger and in total control.

          Criminally rigged elections to put in Puppets of the take over agenda , so the will of the Majority voters is taken for the will of the Monopoly Innsurrection.

          Attack on law and order to create mayhem and terror by commies, convicts and anarchist . Attack on Whites or Trump supporter as terrorists or Innsurrectionist , racists , who must be destroyed.
          Same with war on people who don’t comply with vaccine mandates. The Enemy wanting to divide and conquer by pitting groups against each other.

          Attempt to take the second amendment by the enemy so all Citizens have no defense against the Dictorship by Corporate Governance, as Klaus Schwab likes to call it.

          So the enemy Innsurrection is no different than the deranged criminals that attacked Rittenhouse that night, where he had to defend himself or die.

          US Citizens have to defend themselves against the criminal looters that are trying to take over the US by all their methods of takeover of the free World.

          1. “…a crime but only when an organized syndicate is behind it and they plan to resell the stolen goods….”

            And exactly how is Gov. Gavin Newsom propose to positively ID such looters? By the 1-800-SYNDICATE phone number on the back of their hoodies?

            And exactly how is Gov. Gavin Newsom propose to prove that there was ‘plan to resell the stolen goods’? By the ‘Find me on Ebay’ on the back of their hoodies?

          2. It’s depressing enough to live in the US now, but I can’t imagine how bad it would feel to live in Clownifornia.

  8. leaving those home sellers holding the bag; people who may have planned on the equity Zillow promised
    Better call the builder and cancel that “required” indoor pool!

  9. The rage of the newly Zillowed FBs is almost as delicious as the tears of the caterwauling Hillary supporters back in 2016.

  10. They seriously jacked up the property taxes on the people who purchased the astronomically priced shacks in Northern Palm Beach County over the last few years and to a lessor extent, because the property taxes started out lower, same thing in Martin County to the North.

    1. Yes, but in return for high taxes, they’re getting excellent municipal services and a world-class public education system.

      I slay me….

  11. “‘Did the sellers who counted on money from the sale realize Zillow’s contract wasn’t really a contract; it was a one-sided option in Zillow’s favor? I doubt it.’”

    I haven’t seen one of these Zillow contracts, but the articles say the (wannabe) sellers are keeping the earnest money. Which is exactly what happens in any other house contract when the buyer walks away after the contingency period. So I’m not sure what this realtor is going on about.

    Having said that, it looks like the “earnest money” is $1,000 from multiple articles, which no seller should have ever agreed to. As with everything in America, I’m sure they didn’t even read past the first paragraph with all the big numbers. Oops.

    1. “…I’m sure they didn’t even read past the first paragraph with all the big numbers. Oops….”

      Big assumption: The sellers know how to read.

      Given that a large fraction of todays ‘no child left behind’ high-school graduates can’t balance a checkbook or understand the concept of percent.

      1. Send them to me. I will offer them a genuine hands-on educational course that (hopefully) will last them for a lifetime.

        😁

    2. I was shocked to find out that in Florida a $1 to $2K is all that is expected for a contract. No incentive to stick around. When I sold in NY I got 10% or $54K from the buyer down. When they balked at closing my lawyer explained that me and my Missus would be very happy to keep our house and the $54K. House sold.

  12. seems each decade has it’s share of costumed posers out to impress the rubes in america:
    80’s turning japanese. I really think so
    90’s oil sheiks in sheets
    aughts nerdy tech boys
    2010’s russians & their bad romance
    2020’s chinese yes I’ll take 3 please

    dang cletus, they gotta dangum costume & attitude, that sumbitch MUST be legit I tell’ya what!

  13. What really caught my attention about Australia’s Covid Concentration Camps is that they aren’t just going to intern those who test positive, but anyone who has been “exposed”. Meaning they can come to your door, say that you were “exposed” and drag you away. A very convenient way to send troublesome Deplorables to the gulag.

    1. Oh, the old ” you have been exposed ” trick to haul off people. The invisible enemy called Covid that you can’t dispute , and bogus tests to confirm the invisible enemy.
      The creation of a enemy , nobody can see , that might not even exist and might be something else.
      Oh, and watch out because Bill Gates is warning us there might be small pox released by terrorists at airports. Shortly after his statement containers of small pox was found in a lab. Than a news report of a case of small pox in Maryland.
      Small pox has been gone for a very long time . Like most diseases, with modern hygiene, modern day plumbing, clean water etc., the historic diseases faded.
      The small pox vaccine killed one in a million at the time, and it was still discontinued . 409 to 700 per million will be harmed by current Covid vaccines , and that’s not even getting into long term damage not even determined yet . For every 5 older people the vaccine kills, one older person is saved by vaccine, and the saved goes down more the younger the group is. This was determined by a group of Scientists that they refused to publish the report.
      So, just saying since Bill Gates predicted the Covid Panademic ahead of time, is a small pox emergency the next scam or real .
      Keep in mind small pox has a higher death rate , I think someone said 20% infected die.
      But interestingly they have a new fangled small pox vaccine they have been working on , that Bill Gates is involved with.

      Interesting how a I disease that was irradiated called small pox was so in need of dollars for a new small pox vaccine. It would be similar to putting billions into research and development for a
      Leprosy vaccine, being so rare.
      Does one get a feeling that diseases are being created, so as for vaccines to solve them by these fraudster killers.

          1. Yeah, I don’t feel great about it either. But I’m going to assume that whoever does inspections/testing at CDC are not the same people effing up the pandemic.

          2. But I’m going to assume that whoever does inspections/testing at CDC are not the same people effing up the pandemic.

            That’s a big assumption.

        1. Heard on radio. Lots of tapes where Bill Gates made the comments about terrorist could release small pox at airports.
          The jest of my post is obvious as to my opinion on this new world of Pandemic threat on so called irradiated diseases.
          Also, this vaccine for everything and all diseases is becoming a little hard to believe IMHO.

    2. Australia is the template for what the globalists & their Democrat-Bolshevik Quislings have planned for America. Except the success of their plans is predicated on us meekly giving up our guns, like the Aussie cucks. Don’t think that’s the way it’s going to play out.

  14. IIRC we’ve seen this one before. Got whacked another $300k yesterday:

    $1,500,000 2 bd2 ba 1,800 sqft
    18723 E Knight Creek Rd, Kingman, AZ 86401

    https://www.zillow.com/homedetails/18723-E-Knight-Creek-Rd-Kingman-AZ-86401/2088787867_zpid/

    11/23/2021 Price change $1,500,000 (-16.7%) $833/sqft

    10/5/2021 Price change $1,800,000 (-30.8%) $1,000/sqft

    9/25/2021 Price change $2,600,000 (+4%) $1,444/sqft

    9/24/2021 Listed for sale $2,500,000 (+262.3%) $1,389/sqft

    12/1/2018 Listing removed $690,000 $383/sqft

    7/3/2018 Listed for sale $690,000 $383/sqft

      1. “worthless acreage”

        Spoken by someone who owes debt and pays an actual mortgage to live in a Salvadoran barrio.

        LMFAO

        1. The property Ben posted is 600+ acres, and yet as recently as 2018 the property fetched a little under $700K. The house itself, if it was closer to civilization, looks to be a ~$350K (?) house, which means the acres are $500 each. An undeveloped acre in my barrio is still ~$200K. That’s why I said the Arizona acreage was worthless, comparatively.

          1. An undeveloped acre

            Fertile ground, with sufficient rainfall, productive as pasture, forest or orchard goes for 1% of that. This is not a bario, this is farming/rural. The land in question isn’t farming/rural, it’s remote scrub. How much a year could such land provide in income? The value of it is based on that, not the view of endless Mesquite. Unless Bubble.

          2. The barrio is all location location location. The land value is mostly in the commute, or more accurately, the lack therof. Yeah, I know, “remote work.” But only 25% of the workforce is expected to be full-time remote. The other 75% either need to be near their cubicle part-time, or they don’t have a cubicle at all. The barrio bros can’t mow a lawn or hang drywall over Zoom.

            https://www.cnbc.com/2020/12/15/one-in-four-americans-will-be-working-remotely-in-2021-survey.html

  15. Pre-holiday weekend long read, from a Substack I never heard of.

    The Great Reset — Blackrock, W.E.F., Feudalism, The Fed, Wall Street, CBDC’s (8/2/2021):

    “Once you limit thought, you don’t have to tell anyone not to say something or restrict free speech in any way. You’ve raised a generation or two who don’t recognize that they don’t have free speech because they are limited in their capacity to think. This is how all of it will go. They aren’t going to round people up in death camps. They’re just going to open 100 different fronts to assault every liberty and norm you know until eventually by 2030 or 2040 most people wont remember what they were initially resisting anyway. People will willingly participate. It’s all going to come either wrapped in shiny marketing, as fear porn, health initiatives, well researched psychology, and/or just a barrage of “yes, this is normal” until people don’t remember what came before.

    https://culturalhusbandry.substack.com/p/the-great-reset

          1. AR-15s (and the military version, the M4) can be finicky about feeding ammo into the chamber. The forward assist was designed to remedy this, but the AR is still more prone to jam or “stovepipe” ejected shells than an AK. AR-15s are lighter & more accurate, especially with good optical sights, but AKs are more reliable, easier to field-strip & clean, and in general are just more rugged & dependable under field conditions. Having to use the forward assist when some Communist felon Soros Scum is aiming his pistol at your head at point-blank range isn’t an ideal scenario – the kid is lucky to be alive.

          2. Nope. Jam in a loaded magazine, pull the bolt back, let it go (slides forward on its own to load first bullet into the chamber), flip the safety lever to “fire,” and it’s good to go. Very simple & straightforward.

          3. I recall that in the early days when Kyle was arrested and people were first looking at the video, the gun aficionados on the Fox comment section were saying things like “did I see him clear a malfunction under pressure?” and “He acted with a really cool head” and “wow he only shot the people who were coming after him and nobody else.” The comments on this yt video are similar. Kyle appears to be a hero in firearm circles.

            This is why I recommended, a couple days ago, that Kyle look for jobs connected with firearms industry. He would be welcomed and nobody there would would ever look at him askance. Even as a nurse/EMT I’m sure they could find something for him to do.

          4. I think the Commie he shot in the arm thought Kyle’s AR had jammed and that’s why he came at him. ARs (and M4s) have a tendency to jam at the worst possible time, which is why I’d never carry one for a close-range scenario where you’ve got multiple Soros scum coming at you with lethal intent.

          5. I will stick with my lever action Browning. It’s an old friend. Never jammed even once. Hits what I am looking at, as in an apple at 200 yards.

            Oh, except for that tragic boating accident!

          6. forward assist feature

            This bit of his story wasn’t introduced at trial and isn’t the smartest thing to have said with potential civil suits having a lower burden of proof.

          7. “The AK doesn’t have/need forward assist?”

            Most of the world’s magazine fed weapons have a lug mounted on the right side of the bolt group that is used to pull back (opening) the bolt group, or it can be pushed forward to fully close the bolt group.

            The AR15/M16 bolt group has an “unfixed” top mounted T charging handle, but no “fixed” protruding lug because the recoil compensator and spring that rest against the bolt group reside in a tube the stock, and the gas operated bolt group actually travels rearward out of the receiver into the stock before stopping and moving forward again, pushing a fresh round from the magazine into the chamber before the bolt face rotates into its locked position.

            A dirty bolt face and locking lugs led to the malfunctions. The first M16 rifles had no forward assist, which quickly appeared in subsequent revisions for obvious reasons.

            The chest strap (sling) is what saved Kyle when the guy with the skateboard grabbed the AR15’s barrel and tried to pull it away, but the chest sling prevented that, and actually put the weapon in the proper position for engagement, a fatal chest shot. The next guy with the pistol in his right hand was the next to be engaged a moment later blasting away a portion of his bicep.

            Chest slings are important for close quarters engagement in situations where you immediately need your hands; you won’t lose the weapon!

  16. ‘Did the sellers who counted on money from the sale realize Zillow’s contract wasn’t really a contract; it was a one-sided option in Zillow’s favor? I doubt it.’

    Sorry, I don’t feel any sorry for any of these selling tards.

  17. Today is Thursday, November 25th and Joe Biden and the Democrat Party have declared a race war against white Americans.

    Real Journalists, we don’t believe your lies.

    1. They discovered that if you put Authority figures in White coats ,you can convince the sheep of anything.
      So, the Authority figure DR Fauci got lockdowns, people wearing useless masks, compliance with expiermental vaccines, etc. , with dispute censored.
      And than when the Dr Fauci protocol is a complete failure, the Tyrant recommends more of the same .
      Fauci is the face of Science and anyone that disputes his Science or criticism at all should be arrested.
      When is the biggest con job in history going to stop and the first amendment restored?

      1. Fauci is a modern day Mengele. Share this with those that worships at the altar of Saint Fauci and Scientism.

        ‘Guinea Pig Kids’: Fauci’s Legacy of Cruel Experiments on Kids
        Recent revelations about Dr. Anthony Fauci shed new light on a 2004 BBC documentary, “Guinea Pig Kids.” The film exposed the cruel experiments — approved by Fauci and funded by U.S. taxpayers — on poor minority children as part of Fauci’s search for a cure for AIDS.

        At ICC, the cooperation of experimental subjects consistently took precedence over their wellbeing. Children were required to take these medications regardless of their negative impacts, and adverse effects were attributed to their presumed illness (AHRP discovered that NIAID allowed its pharma partners to experiment on children without lab-confirmed HIV infections).

        When some parents refused to consent to the trials, children’s services officials would promptly remove them and place them with foster families, or in children’s homes where a child’s participation would then be authorized.

        When children resisted or refused their medications they were brought to Columbia Presbyterian hospital, where plastic tubes were surgically inserted into their stomachs for drug administration.

        According to Sharav, at least 80 children died over the course of these clinical trials.

        “Fauci just brushed all those dead babies under the rug,” Sharav said. “They were collateral damage in his career ambitions. They were throw-away children.”

        A visit to ICC’s mass grave at Gate of Heaven cemetery in Hawthorne, New York, drove that point home for Celia Farber, an investigative reporter who conducted research for the film.

        “I couldn’t believe my eyes,” Farber said. “It was a very large pit with AstroTuft thrown over it, which you could actually lift up. Under it, one could see dozens of plain wooden coffins, haphazardly stacked. There may have been 100 of them. I learned there was more than one child’s body in each.”

  18. The confirmed information coming out about Dr Fauci, that really shows he’s a killer psychopath , is just so tragic. How could someone like that become as powerful as he did, being a obvious instrument for Big Pharmacy and his own selfish self, along with his friend the devil Bill Gates.
    Klaus Schwab has that same kind of glee going about control of people . George Soros, is another sadist that is welding power . Biden and Pelosi the old corrupt politicians and sell outs to One World Order power grab.
    Everyone of them I mentioned above are old tyrants , with screws loose .
    The masses just have to take back their Countries from these People and Entities that are dangerous killers really.
    And may Robert Kennedy Jr. be protected from harm for exposing Dr Fauci in his new book.

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