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Investors Tend To Be Leveraged Up To The Eyeballs

A report from Market Watch. “Airbnb had been on track for its biggest drop ever, falling more than 13% in intradrading and becoming the worst performer in the Nasdaq 100, according to Dow Jones and FactSet. Its shares have never declined more than 9.1% in a single session, with that record set nearly a year ago, on Feb. 25, 2021. The stock of the lodging-booking company had dropped in six of the past seven sessions.”

The Aspen Daily News in Colorado. “The city and county are wishfully ­thinking that vacation-rental units can somehow be limited to ‘true locals’ who reside on the property and need the money to remain in Aspen. An additional income stream presumably would slow the gentrification wave that has transformed 68% of free-market units into vacant places. Much of the property here is owned by corporate entities, primarily LLCs. LLCs are a form of partnership that can admit as many partners as deemed useful. And LLCs and other entities do not have to disclose their ownership. Mitt Romney famously said corporations are ‘people.’ And people they are — in the sense that zombies and vampires are — capable of eternal life and with no interest in community other than profit.”

From CBS Miami in Florida. “Nearly 6,000 new apartments and more than 2,500 condos are under construction in the city of Miami. From Wynwood to Brickell and downtown to Miami Beach, cranes and construction are everywhere. ‘Everybody wants to be here, we’re an extremely desirable city which is a great thing. We don’t want to be less desirable but it’s also creating a bit of a supply glut, raising prices a little bit because a lot of people want to come,’ says the Mayor of Miami, Francis Suarez.”

From Gothamist. “A week after a pandemic-era moratorium on evictions ended, thousands of low-income New Yorkers behind on rent sought help from an emergency rent relief program, illustrating that many more households are at risk of losing their homes. Jay Martin, executive director of the Community Housing Improvement Program (CHIP), a group made up of about 4,000 owners of mostly rent-stabilized units, said landlords are not rushing to housing court to file eviction notices.”

“According to CHIP, the average rent owed is about $20,000 – accumulated during the nearly two-year-long pandemic – and Martin said landlords are not likely to recover the money if they evict their tenants now. ‘These workers won’t have the financial resources to pay these debts back anyway,’ said Martin.”

The Advocate in Louisiana. “Calcasieu Parish continues to be among one of the nation’s most troubled housing markets in the country with more than 1 out of every 5 homes classified as being underwater at the end of the third quarter last year. ATTOM indicated of the 22,898 properties in the parish with loans, 5,021 were classified as underwater. Two northern Louisiana parishes were nearly as high as Lake Charles: Caddo at 21.4% and Ouachita at 20.8%, both in the top 20 nationwide.”

“Nationwide, New Jersey, Illinois and parts of California had the highest concentrations of the most at-risk markets with the biggest clusters still in the New York City and Chicago areas. The western U.S. remained far less exposed outside of California.”

The Philadelphia Inquirer. “In a couple weeks, New Jersey homeowners struggling because of the pandemic will be able to apply for about $326 million in federal funds to help them stay in their homes, Gov. Phil Murphy announced. The New Jersey Housing and Mortgage Finance Agency expects to help 7,000 to 10,000 households with current funding but will aim to stretch funds as far as it can, said Melanie R. Walter, the agency’s executive director. ‘We’re aware there could be 100,000′ people who need help to make their housing payments,’ she said. She acknowledged the high price of housing in New Jersey compared to other states.”

The City Journal on California. “Locals sometimes call San Francisco’s Tenderloin neighborhood ‘Hamsterdam.’ The name comes from the third season of HBO’s The Wire, in which a Baltimore police commander unilaterally designates an area of his district where his officers would turn a blind eye to the selling and using of drugs. The fictional depiction of Hamsterdam is horrifying—’a village of pain,’ one character calls it. For Tenderloin residents, that portrayal is a reality. And now it’s not just happening on the streets: San Francisco is operating a rogue and unlawful drug-consumption site. In January 2021, the Third Circuit ruled that such supervised consumption rooms are illegal under federal law, as per the Controlled Substances Act.”

“What is happening inside the Linkage Center mirrors what is happening outside. The facility is located near Civic Center Plaza, where hundreds of dealers and users congregate night and day. Throngs of addicts stand around in a daze, yell incoherently, or slump themselves over on the ground. They use drugs out in the open, jabbing needles into appendages, puffing on pipes, and inhaling from burning foil. Across the street stands a luxury condo building with units for sale and empty office buildings.”

From Bloomberg. “An increase of more than one percentage point in the central bank rate — traders in Toronto are expecting a point and a half — would backfire on homeowners, driving the cost of their mortgages above that currently offered on conventional fixed-rate loans. To old hands in the housing market, the elements at play here — overstretched buyers suddenly hit with surging borrowing costs — are a cocktail for trouble. And while predicting a crash in the Canadian housing market has been an embarrassingly bad idea for two decades now, some are mustering the courage to raise the specter anew.”

“‘If the Bank of Canada goes at least as far as what the rates market has priced in, you’re going to have arithmetically at least a 25 per cent plunge in residential real estate values,’ said David Rosenberg, an economist who predicted the 2008 U.S. housing crash and now runs his own analytics firm.”

“If anything, he says, the market may be underestimating, not overestimating, the number of rate hikes that could be coming if the Bank of Canada panics in the face of the fastest inflation in 30 years. ‘There’s a greater risk that they over-tighten, and they might over-tighten by even a couple of rate hikes.'”

“It’s investors, whose participation in the housing market has grown faster than any other kind of buyer, who are more likely to sell, said Rosenberg. As of mid-2021, investors accounted for a fifth of all homes purchased in Canada. Investors look at their properties as a source of profit, so they may have fewer qualms about selling than owner-occupiers when the economics turn less favorable, research by the Bank of England has suggested. Plus, the greater proportion of debt investors carry relative to their income may make them even more sensitive to changes in interest rates, according to research from the Bank of Canada. And in late 2020, about 40 per cent of investors were only breaking even — making that group completely reliant on price appreciation to earn a return.”

“‘The investors tend to be leveraged up to the eyeballs,’ Rosenberg said. ‘That’s where the selling is going to initiate, but it will spread like dominoes.'”

“Last month, Lori Babyk, a 48-year old product manager at an industrial supply company, spent just shy of $1 million on a townhouse in the Toronto suburbs. The low rate on her variable-rate mortgage, just 1.35 per cent, was a help given the sticker price. ‘With where I am now and where my monthly payments are, I can live fairly comfortably and not have to worry,’ she said. ‘If things went much higher I’d have to be a lot more concerned with what’s coming in and what’s going out.'”

“If rates do rise, Babyk says she would cut spending elsewhere and continue paying down her loan to make sure she can be mortgage-free by the time she retires. The danger for the Canadian economy would be if the millions of homeowners who’ve piled into variable-rate mortgages all engage in the same belt-tightening at the same time. Such a hit to aggregate consumer spending could end up putting some people out of work, and if Babyk became one of them, she says keeping up with rising mortgage payments might become tough.”

“‘I wanted to take advantage of what I could now,’ Babyk said of opting for her floating-rate mortgage over fixed. ‘I keep telling myself, at the end of the day, I can sell.'”

From Forbes. “The days of property moguls dominating China’s wealth rankings appear to be at an end.Beijing’s campaign to roll out nationwide real estate reforms has been particularly costly to the founders behind the country’s top three property developers by sales who have seen their collective fortune plunge by $30 billion since the World’s Billionaires List was published in April.”

“‘Real estate will probably be turned into utility-like public services,’ says Hong Hao, head of research at Bocom International in Hong Kong. ‘Profit margins will be limited and no one will be allowed to make big money.'”

From Bloomberg. “China Evergrande Group urged offshore bondholders not to adopt aggressive legal action over repayments, after a group of its overseas creditors threatened to take enforcement measures. The developer’s note due 2022 is indicated at about 16.6 cents on the dollar Tuesday morning, Bloomberg-compiled prices show. Evergrande, saddled with $305 billion of liabilities as of mid-2021, was deemed to be in default in December after missing dollar-bond payments.”

This Post Has 170 Comments
  1. ‘I keep telling myself, at the end of the day, I can sell’

    Right oh Lori, that you can. Problem is, gamblers often have to sell when it’s sinking like a turd in a well:

    ‘Chinese real estate developer Shimao Group Holdings intends to sell 36 projects, including a 700-meter-high skyscraper in Shenzhen, in total worth more than CNY77.1 billion (USD12.2 billion) to reduce its liabilities.’

    ‘The property firm expects to recover as much as CNY23.6 billion in funds via the transfers, the Paper reported today.’

    ‘Although Shimao has assets worth more than CNY200 billion (USD31.6 billion), concentration among big corporate facilities is intense, which slows its general turnover, Xu Shitan, president of the developer, said during the firm’s semi-annual earnings call in 2020. Processes should be accelerated, Xu added.’

    ‘One of the mentioned projects is the megatall skyscraper of Shimao Shenzhen-Hong Kong International Center in the tech hub of Shenzhen. The undertaking, which has nearly 1.4 million square meters in floor area, boasts a total assets value of CNY62.9 billion, and CNY8.4 billion of that has been sold so far. Shimao has priced its stake in the project at CNY15.1 billion.’

    ‘Another one on the list is InterContinental Shanghai Wonderland, a resort that is built on the site of an old quarry. The design includes some rooms that are underwater. Shimao’s ask is CNY2.25 billion (USD355.5 million). The Hong Kong-based company constructed the first Smurfs theme park in the Asia Pacific region near the resort.’

    ‘The list of 36 has nine projects in Shanghai. Some of them are Shanghai Shimao Tower, the company’s regional headquarters, Shimao International Plaza, and the Pucheng residential community. The nine are priced at CNY28.2 billion. The firm has gained CNY16.3 billion via the assets by pledging its equity. Moreover, some commercial and residential projects in Chongqing are for sale.’

    ‘The report follows an announcement of another deal. Shimao said yesterday that it sold its nearly 26.7 percent stake in the Guangzhou stadium that hosted the Asian Games in 2010 for CNY1.8 billion to cut its debts.’

    https://www.yicaiglobal.com/news/china-shimao-to-sell-usd122-billion-in-property-assets-to-cut-debts-

    1. “…gamblers often have to sell when it’s sinking like a turd in a well:…”

      Not to mention at the moment their leveraged bets have put them deeply underwater and margin calls require them to raise cash.

      Reference event:
      The Great Crash of 1929

  2. Suburban white women who have mindlessly voted Democrat for eons are belatedly figuring out what kind of commie agenda they’ve been supporting.

    They were loyal liberals who never dreamed of voting Republican but the damage done to kids by the Left’s Covid hysteria is driving a wave of moms away from the Democrats, writes BETHANY MANDEL

    https://www.dailymail.co.uk/news/article-10428729/Lefts-Covid-hysteria-driving-wave-liberal-moms-away-Democrats-writes-BETHANY-MANDEL.html

    1. From the comments: “In the end we’re all conservatives once we see the light.” –BleuSmudges, Istanbul, Turkey

  3. The PPT stopped the rout yesterday, but one of these days the financial reckoning day is going to lay waste to the Fed’s asset bubbles & Ponzi markets.

    “Airbnb had been on track for its biggest drop ever, falling more than 13% in intradrading and becoming the worst performer in the Nasdaq 100, according to Dow Jones and FactSet.

    1. Airbnb

      An internet-based service relying on network effects and a business model predicated on evading taxes and regulations. This dead wood stock needs to be culled.

      1. ‘This dead wood stock needs to be culled.‘

        – Agreed.

        – And not to mention:
        1) Exorbitant ‘cleaning’ fees added to the rental charge. We stay in motels where that’s included. We already boycott STRs here in CO.
        2) pulling supply out of the market. Driving up housing costs. Low wage workers priced out.
        3). Wild parties at all hours. ‘There goes the neighborhood.’ Zoning issue.
        4) Part of the financialization of America, which has been sucking for most everyone except STR owners and VRBO.
        5). I’m already seeing pushback on STRs globally. Need to end the local government corruption (good luck!), but communities starting to vote this plague out. Not soon enough for me.

      2. I paid attention to these guys early on. They would get slapped down in say NYC, and here come the lawyers. They do it in Europe too.

      3. What about these ?

        The city of Los Angeles has launched a program designed to make backyard “granny flats,” or Accessory Dwelling Units (ADUs), easier to build.

        The new ADU Standard Plan Program aims to simplify the process by offering homeowners and builders access to 20 preapproved designs.

        Mayor Eric Garcetti says those units are critical to increasing the city’s housing supply, but the permitting process can take weeks, months, or even years in some parts of L.A. city and county.

        1. IIRC there’s not as much resistance to STRs which are on the owner’s primary property. It’s not far off from renting out a room in your home. It’s the one-night whole-house parties which seem to attract all the negative attention.

  4. “The city and county are wishfully ­thinking that vacation-rental units can somehow be limited to ‘true locals’ who reside on the property and need the money to remain in Aspen.

    Aspen is led by the most delusional of libtards. Naturally the globalist-funded Aspen Institute is spearheading the effort to define and censor “misinformation,” with such MSM luminaries as Katie Couric – who has openly mused about the need to “reeducate” 75 million Deploreables – among those leading the effort.

  5. “A week after a pandemic-era moratorium on evictions ended, thousands of low-income New Yorkers behind on rent sought help from an emergency rent relief program, illustrating that many more households are at risk of losing their homes.

    You can’t “lose” what you never owned. Most of these people never should’ve qualified for mortgages in the first place.

  6. The name comes from the third season of HBO’s The Wire, in which a Baltimore police commander unilaterally designates an area of his district where his officers would turn a blind eye to the selling and using of drugs.

    In Democrat-Bolshevik malgoverned cities, turning a blind eye to all manner of crime and corruption is par for the course for corruption-riddled police departments run by diversity hire incompetents who would never pass a rigorous background check.

        1. I remember that some of the London Underground stations were rather dumpy looking, but they never smelled of feces.

          1. “stench when descending into a BART station.”

            Amerikkan exceptionalism at work. May be the brits don’t have thier exceptionalism perfected yet.

  7. The Fed’s deranged money printing and “No Billionaire Left Behind” monetary policies are having their intended result: concentrating all wealth and power in the hands of the oligarchy, while destroying the purchasing power and standard of living of everyone else.

    Inflation Is Eating Away at the Heart of America’s Small Businesses

    https://townhall.com/columnists/salenazito/2022/01/25/inflation-is-eating-away-at-the-heart-of-americas-small-businesses-n2602317

    Of the four restaurants Rick McQuaide owns across several counties in Western Pennsylvania, one is barely making a profit, two are losing money and the fourth has been “temporarily” closed for far longer than he ever anticipated.

    The 58-year-old small businessman from nearby Cambria County has one word for why he finds himself in this position — and it isn’t the pandemic.

    “It is inflation,” he said flatly.

  8. In globalist looting colonies like Australia and New Zealand, REIC corruption goes with the territory – but that doesn’t stop the defrauded from stamping their little feet.

    Fury at boss of collapsed building firm BA Murphy in Queensland

    https://www.news.com.au/finance/business/other-industries/fury-at-boss-of-collapsed-building-firm-ba-murphy-in-queensland/news-story/ff08a42375fa33fe48cebdb5a6d14354

    A since deleted post on Instagram has made tradies angry as the company owes creditors almost $11 million.

    Tradies are furious after the boss of a major building company that collapsed late last year, leaving almost $11 million owing to contractors and employees, posted about his holiday on Instagram.

    Queensland builder Ben Murphy is the owner of BA Murphy, one of the largest building companies in southeast Queensland, which went into liquidation last month.

    1. Markets
      S&P 500 futures slide by more than 1% as market’s wild ride continues
      Published Mon, Jan 24 2022
      6:03 PM EST
      Updated 17 Min Ago
      Pippa Stevens

    2. “Bear Stearns is fine!” — Jim Cramer, March 11, 2008. Six days later Bear Stearns stock crashed from $60 to $2.

      1. **. “The Hong Kong-based company constructed the first Smurfs theme park in the Asia Pacific region near the resort.”

        the “first” Smurf’s theme park?
        you mean, there are . . MORE !??
        OM dear G in heaven!
        that would truly be worse than some nasally-NY-accented-Karen spouting off: forced to endure a blue-cartooned character theme park.
        after 10 minutes I’d have to throw myself in front of the rollercoaster.
        or ask some kid to accidentally push me.
        (for the insurance payout)

          1. alright red: I see your Smurf video & raise you a Dora The Explorer.
            try to get THAT earworm outta yer head tonight. . . hah!

            (if you have kids then you grok)

          2. Dora The Explorer

            Can’t say that I’ve heard that, but I’ve had the Trolls soundtrack at least 3 times a day for well over a year.

  9. Bwaahahaha… Climate change activist suffers electric car calamity…

    https://citizenfreepress.com/breaking/bwaahahaha-climate-change-activist-suffers-electric-car-calamity/

    Former San Luis Obispo mayor and climate change activist Heidi Harmon attempted to “do the right thing,” and travel to a rally in San Francisco in an electric car. After multiple attempts to find a working charging station in San Jose, Harmon realized charging the car would take up to seven hours and there was no way she could make the rally. Harmon posted multiple videos about her difficulties in traveling in an all-electric vehicle. She discusses calling the police or asking someone to send a helicopter to rescue her.

    1. If she was in San Jose, couldn’t she just take a bus to San Francisco, or maybe an Uber or a Taxi? Why would she need a helicopter?

      1. Why would she need a helicopter?

        Public transportation is for the proles. Comrades of Proven Worth (D) deserve helicopters. St. Greta averts her gaze whenever her fellow globalist Quislings violate their own zero-carbon principles.

        “All animals are equal, but some animals are more equal than other animals.” — George Orwell, ANIMAL FARM

        1. she’s going to an optional event, a convention.
          NOT rescuing a crew at sea, NOT responding to a robbery, etc. yet she blithely thinks she’s entitled to a gottdamn HELICOPTER/POLICE response?!
          and what’s really sad about the whole thing is, if you even attempt to explain how selfish & ridiculous this looks,
          she won’t
          have
          a
          c.l.u.e.

      2. “…we need some transition support squads all over the place…” —Heidi Harmon, former San Luis Obispo mayor

    2. Monster SUV’s are for closers !!

      Arnold Schwarzenegger was just involved in a bad car accident … so bad his monster SUV rolled over on top of another car, and that driver was badly injured.

      Arnold was driving a Yukon SUV when it collided with a red Prius at around 5:00 PM PT. His SUV started to roll and ended up on top of the Prius, then continued rolling to the left into a Porsche Taycan.

    3. Electri cars didn’t work 100 years ago. The dinosaur technology doesn’t work today either.

      Nothing screams failure like electric cars, solar panels and windmillsbags.

  10. Trillions of fake wealth created by fake Yellen Bux “money” getting vaporized.

    Elon Musk loses $34b while Jeff Bezos loses $27b in horror week for billionaires

    https://www.news.com.au/finance/markets/world-markets/elon-musk-loses-34b-while-jeff-bezos-loses-27b-in-horror-week-for-billionaires/news-story/1d70396e677459e4511260f9a25359f3

    The world’s richest man is now $34 billion poorer and other billionaires have also taken a huge hit to their personal wealth in recent days.

    1. Elon Musk loses $34b while Jeff Bezos loses $27b in horror week for billionaires

      Easy come, easy go.

    1. COVID “vaccines” are not vaccines, and they don’t work.

      I know people who understand this; but are so afraid of the virus that they ran out to get jabbed and boosted.

    2. Amazing panel discussion yesterday! Ryan Cole’s description of Omicron is hilarious. Pierre Kory was on fire about corruption. Aaron Kheriaty needs to replace Mrs. Fauci as chief bioethicist at the NIH. Christina Parks, who lost her father to COVID last Friday, drops an interesting nugget regarding autism. Paul Marik and Peter McCullough were on the verge of tears at times. If you can’t watch the whole thing, seek out clips on your platform of choice.

      COVID-19: A Second Opinion
      (5h36m11s)

      1. Watch these two short embedded video clips. I’ve bolded text to emphasize the key takeaway and concern!!

        https://twitter.com/JikkyKjj/status/1485919888531419138:

        Dr David Wiseman’s background is in pharmacology. He asks a reasonable question: How qualified are the FDA to investigate a biologic transfectant when most of the “scientists” don’t know what a 3’UTR is, or what pseudouridine does.

        Malone doesn’t like it.

        https://twitter.com/JikkyKjj/status/1485919944131100674?cxt=HHwWhIDSqaCUhp8pAAAA:

        In the follow-up Dr Christina Parks drops the bombshell on miRNA:

        “RNA can regulate your DNA”

        That’s the miRNA that’s in Co-miRNA-ty I guess.

        1. “RNA can regulate your DNA”

          I could be wrong, it’s been a few years, but I think that concept was in the first chapter of my Genetics textbook. Maybe on the first page.

        1. And now the FDA is pulling the monoclonal antibodies, because “they don’t work on Omicron”.

          Neither does the Jab, but that hasn’t stopped governments from trying to mandate it.

          1. the Jab

            Someone I know has a relative who was told by a colleague that someone she used to work with is on a ventilator (not exaggerating). Aside from that, I haven’t heard of anyone gravely ill lately. The antibodies may be obsolete, but then so is the jab. The EUA is a farce at this point. Perhaps just a holding position waiting for Pharma to roll out the latest faux flu shot.

  11. He Don’t Lie: Eric Clapton Makes Quite the Statement About Vaxxed People

    https://pjmedia.com/news-and-politics/matt-margolis/2022/01/24/he-dont-lie-eric-clapton-makes-quite-the-statement-about-vaxxed-n1552453

    Legendary rocker Eric Clapton has been a staunch COVID-19 anti-vaxxer since his frightening experience with the AstraZeneca vaccine last year, which he called “disastrous.”

    Since then he has recorded a couple of anti-COVID-restrictions songs, earning the ire of many faithful COVIDians. But now, new comments he’s made about those who have chosen to get vaccinated are likely to cause an even bigger stir, as he has suggested that anyone who’s been vaccinated against COVID is a victim of “mass formation hypnosis.”

  12. This 5 hour event took place yesterday and was covered by zero mainstream media outlets. If not for Infowars I would have never heard of it.

    Starts at 15:30 with stunning statistics shortly after.

    https://www.bitchute.com/video/BToi4DANWKqD/

    ***RSVP DEADLINE: MEDIA ADVISORY*** Sen. Johnson To Hold Panel Discussion, COVID-19: A Second Opinion

    January 20, 2022

    WASHINGTON – U.S. Sen. Ron Johnson (R-Wis.) will hold a panel discussion, COVID 19: A Second Opinion.

    WHAT: Panel discussion on the global pandemic response, what went right, what went wrong, what should be done now, and what needs to be addressed long term. The panel will also discuss censorship from Big Tech and the mainstream media, pandemic response effect on children, and vaccine mandate impact on worker shortage.

    WHEN: Monday, Jan. 24

    9 a.m. – 12 p.m. ET

    WHERE: Russell Senate Office Building, Kennedy Caucus Room 325

    RSVP: Please RSVP by Friday January 21 at 10:00AM ET with name, outlet, email and phone number to press@ronjohnson.senate.gov.

    https://www.ronjohnson.senate.gov/2022/1/rsvp-deadline-media-advisory

  13. Markets are down. Bitcoin is gaining well, probably because the true believers are playing the clap-if-you-believe-in-fairies scene from Peter Pan.

  14. Growth in U.S. Home Prices Cooled Off a Tiny Bit in November

    https://www.bloomberg.com/news/articles/2022-01-25/growth-in-u-s-home-prices-cooled-off-a-tiny-bit-in-november?srnd=premium-europe&sref=ibr3A0ff

    The growth in U.S. homes prices slowed slightly in November.

    A measure of home prices in 20 U.S. cities jumped 18.3%, down from 18.5% in October, the S&P CoreLogic Case-Shiller index showed Tuesday. It marked the fourth straight month that home-price appreciation has cooled off ever so slightly.

        1. “I saw it as a teenager, scarred for life.”

          Now that’s what I call a Pig-to-Human transplant. 🙂

    1. From elsewhere: The heart used for Bennett’s revolutionary transplant, however, was no ordinary pig heart. The heart was developed by the biotechnology company Revivicor, a subsidiary of United Therapeutics Corporation. The company disabled the effect of three genes in the donor pig so that its cells could not produce certain membrane-bound sugars that human antibodies would recognize as foreign, and which could therefore trigger an immune reaction. They also inserted six human genes into the pig genome to reduce inflammation, protect blood vessels, maintain regular blood coagulation, and suppress antibody responses in Bennett’s body. Lastly, they deleted a gene in the pig genome that governs growth hormones so that the heart would not grow in size, once transplanted into its human host.

  15. “Last month, Lori Babyk, a 48-year old product manager at an industrial supply company, spent just shy of $1 million on a townhouse in the Toronto suburbs….If rates do rise, Babyk says she would cut spending elsewhere and continue paying down her loan to make sure she can be mortgage-free by the time she retires.”

    She is 48, just bought this place, and wants to be mortgage free when she retires at what, 78? Also, a “product manager at an industrial supply company” makes, I’m guessing, about 70K. Good luck Lori!

    1. Maybe it’s a shorter term loan. That said, she’s gonna have to each a lot of Ramen to pay off a million dollar loan in 15-20 years.

      Many years ago I was in Toronto on business. Prices, while not as insane as now, were pretty high. I asked my Toronto colleagues how they could afford those mortgages (interest rates were much higher back then). An answer I heard more than once was to rent out a room to a friend or some other boarder.

    1. Anthony Fauci, Bill Gates, Klaus Schwab all need to be swinging from lamp posts.

      The only good globalist is a dead globalist ☠

  16. The ZeroHedge community misses BFB in “US Home Prices Decelerate For 4th Straight Month.”

          1. e support the minimum wage increase approved by San Diego voters and the State legislature. A 4.95% surcharge has been added to your check and all of us at AVANT and Veranda Fireside Lounge & Restaurant thank you for supporting us as we strive to offer you exceptional service and an extraordinary dining experience.

          2. It was my birthday at a beautiful location with fond memories of my now deceased mother.

            When I worked at HP in RB, we had a few celebration lunches at the RB Inn. They were pretty good and the location was pleasant.

    1. Pull up, pull up, pull up

      I’ve giv’n her all she’s got captain, an’ I canna give her no more.

    2. Looking past the indexes, many individual stocks have already collapsed 60, 70, or 80%+. The weakness in the start of 2022 is quite alarming, and the Fed has not even begun tightening.

        1. If there is no tightening, then there will be inflation. The Admin is really hoping that the end of the pandemic will trigger an economic recovery that will grow into the existing inflation. Soft landing. It’s not impossible.

          1. will be inflation…the existing inflation

            Appreciate your hopefulness, but as you can see, it rests on a contradiction.

          2. The Admin is really hoping that the end of the pandemic will trigger an economic recovery that will grow into the existing inflation.

            This doesn’t even make any sense. There’s no such thing as “growing into the existing inflation.” That sounds like something somebody really stoned out of their gourd came up with.

          3. The hopefulness isn’t “mine.” That’s why I wrote that THE ADMIN IS REALLY HOPING.

            And yes, it’s theoretically possible to grow into inflation. If there’s a post-pandemic bump in GDP growth, then Powell can taper and reduce the balance sheet, i.e. decrease the money supply. That would bring inflation down, while the growth would keep the markets stable.
            That’s a best-case scenario, but I don’t think it will happen that way. The money-heroin is just too addictive to taper from.

          4. If there’s a post-pandemic bump in GDP growth, then Powell can taper and reduce the balance sheet, i.e. decrease the money supply. That would bring inflation down, while the growth would keep the markets stable.

            Sorry, that’s not how inflation works. You have to raise rates aggressively to stop inflation. Look at what Volcker had to do in the 1970s. Massive, continuous rate hikes. If you think sitting back and watching GDP rise is going to do a damn thing about inflation, you’re lost.

          5. “Look at what Volcker had to do in the 1970s.”

            Mostly the early 80s, but those were painful years to be in business. The standard of living never returned for a large cohort of Americans.

          6. The standard of living never returned for a large cohort of Americans.

            I assume you mean because of the high inflation. It’s a tax on the working class and poor. The longer inflation is allowed to run, the worse off those people are – most people.

          1. “… history has not dealt kindly with the aftermath of protracted periods of low risk premiums.” – Greenspan, August 26, 2005

  17. Real Journalists.

    Huffington Post — Overwhelmed By COVID News? Here’s What To Monitor And What To Skip (1/25/2022):

    “While staying informed, understand that it’s OK to skip or take time off from content you find particularly distressing or triggering.”

    https://archive.is/M4imF

    Triggering? You have Mass Formation Psychosis.

  18. From Reddit’s sub: r/SanJose
    Downtown San Jose has become a complete ghost town
    “I walking there yesterday and absolutely no one was on the streets except for few mentally ills. After all those investments, it seems like a huge waste.”

    LOLZ!

    1. ** “I walking there yesterday and absolutely no one was on the streets except for few mentally ills. After all those investments, it seems like a huge waste.”

      just like Sacramento. it’s heartbreaking how downtown went from odd eclectic to SF lite.

  19. Up to a point…

    DOW 0.30%
    S&P 500 -0.48%
    NASDAQ -1.17%

    Bad news for Biden: Stocks are getting crushed
    Analysis by Matt Egan, CNN Business
    Updated 1:27 PM ET, Tue January 25, 2022
    A pedestrian walks past the New York Stock Exchange, Monday, Jan. 24, 2022, in New York. Stocks have fallen sharply so far this year as the market readies for the Federal Reserve to raise interest rates to try to tame inflation, which is at its highest level in nearly four decades.

    New York (CNN Business)
    President Joe Biden’s honeymoon with the stock market is over.
    After soaring in Biden’s first year in office, markets are off to a dreadful start to 2022. Worries about the Federal Reserve’s plan to fight inflation have driven the S&P 500 down 9% so far this year — all three and a half weeks of it.
    The Nasdaq, despite its historic rebound on Monday, is down again Tuesday and on track for its worst month since 2008 and its worst January ever.

    https://www.cnn.com/2022/01/25/business/dow-stock-market-biden/index.html

  20. I watched the entire Ron Johnson Congress hearing with the Doctors.
    Entities acted in collusion to pull off this murder spree on humanity .
    They aren’t going to televise that hearing on main stream news , in spite of the public being entitled to know what risks are involved with this sinister vaccine assault on humanity by criminals.

      1. That one Doctor that saved 150,000 by providing free drugs to treat Covid , should be acknowledged as a hero, when everything is exposed for the crime it is.

    1. Saw it today myself. Fittingly, while home with COVID. Fortunately, I was able to secure a telemedicine consult with a wonderful doctor who spent 15 minutes with me. I had the foresight weeks ago to secure a local compounding pharmacy so my first dose of Ivermectin is already at work.

    2. “in spite of the public being entitled to know”

      Letting the public know would cut into Ukraine border Fauci booster recommendation False Flag insurrection time on the network evening “news” broadcasts.

  21. The Quebecers are at it again:

    Quebec retailers are not enthused by a new provincial directive that will force large-surface stores to ban customers who do not have a vaccine passport.

    As of Monday, people will need to present a vaccine passport showing they have had at least two doses of a COVID-19 vaccine in order to enter stores that are bigger than 1,500 square metres or 16,000 square feet, including popular big-box stores like Costco, Walmart and Canadian Tire.

    So here we are, Canada. Get jabbed or you can’t shop in person. Next?

      1. 50,000 trucks, from what I read. They’ll have to strike, otherwise Prime Minister Zoolander won’t back down.

  22. I know that at this point it’s just a formality, but the Brandon administration has officially given up and thrown in the towel on the OSHA Jab Mandate:

    WASHINGTON — The U.S. Occupational Safety and Health Administration has announced that it will be formally withdrawing the Biden administration’s vaccine and testing mandates at private workplaces.

  23. I just saw this on thehill dot com:

    The unvaccinated owe a figurative debt to society that should be literal.

    Our moral obligation to get vaccinated involves citizenship duties. Getting vaccinated is how, in the midst of a dangerous pandemic, citizens act for the good of neighbors, wider society and even the global community. Unvaccinated people put themselves and others at risk of disease spread, hospitalizations and even death, defying an obligation to protect life and advance the common good.

    This is where the idea of “paying people to get vaccinated“ has things backward. It is the choice not to be vaccinated that should come at a cost. Rather than paying people to get vaccinated, those who refuse vaccination should be viewed as owing a debt of obligation to society. What needs to be thought through are the ways the unvaccinated can meet this obligation.

    They can’t force us to get jabbed. So now they will try to get their pound of flesh from us. Good luck with that.

    1. owing a debt of obligation to society.

      Self proclaimed superiors proposing slavery. Where have we heard of that before?

    2. Part of me hopes they’re dumb enough to actually try this. Should go over real well when people are already choking on inflation.

      As for the big man who wrote that article, who’s going to do the collecting? You? Yeah, didn’t think so.

    1. The Financial Times
      ETF Hub Cathie Wood
      Cathie Wood declares ‘innovation is on sale’ after rout in tech stocks
      Ark Invest founder’s flagship fund is down 27% this year
      Cathie Wood
      Among the biggest holdings in Cathie Wood’s Ark Innovation fund are Tesla, Zoom and Coinbase, which have all fallen this year
      © Brendan McDermid/Reuters
      Harriet Agnew in London yesterday

      Ark Invest founder Cathie Wood said the sell-off in unprofitable tech companies that has hit her investment fund’s performance had only increased her conviction in her positions as she declared that “innovation is on sale” and urged investors to look beyond recent market volatility.

      Wood spoke on Tuesday at Ark’s virtual Big Ideas Summit 2022 following a big drawdown in her flagship Ark Innovation exchange traded fund, known by its ticker ARKK. Shares in the $12bn vehicle, which combines an ETF structure with a capacity to pick stocks, are down 27 per cent this year and have halved since a peak last February.

      US stocks closed lower on Tuesday in the latest volatile session as investors prepared for the US Federal Reserve to raise interest rates as soon as March. Measures of expected short-term volatility in US equities, such as the Cboe Vix index, were well above historical averages.

      “Many people associate volatility with risk,” Wood said.

      “We use volatility to our advantage,” she added. “We concentrate towards our highest conviction names and that tends to work very well as we go through these corrections.”

        1. “…and have halved since a peak last February.”

          Also, ‘correction’ is applicable to short term market changes. A change over 11 months’ duration is more of a CR8R.

    2. The Financial Times
      Federal Reserve
      Fed expected to stay on course for first rate rise in March
      US central bank’s latest decision will come at a time of extreme volatility in financial markets
      Federal Reserve building in Washington
      The Federal Reserve will release its latest monetary policy decision on Wednesday
      © AFP via Getty Images
      Colby Smith in Washington
      3 hours ago

      The Federal Reserve is set to look past the turbulence that has gripped global financial markets in recent days and lay the groundwork for raising interest rates in March as it attempts to counter rampant inflation.

      The Federal Open Market Committee is expected on Wednesday to keep its main policy rate at the rock-bottom level it has been at for nearly two years, while signalling its readiness to begin raising the rate more substantively in an attempt to cool down the US economy.

      The central bank’s statement will be released on Wednesday at 2pm Eastern Time, followed by a press conference with Jay Powell, Fed chair, shortly afterwards.

    3. Advertiser Disclosure
      How To Take Advantage Of A Stock Market Crash
      Bob Sullivan
      John Schmidt
      Bob Sullivan, John Schmidt
      Contributor, Editor
      Published: Jan 24, 2022, 2:22pm
      Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.
      How To Take Advantage Of A Stock Market Crash Getty

      There’s an old saying on Wall Street: If you don’t sell it, you haven’t lost it. In other words, the value of your investments doesn’t really matter until the day you need to cash out, so don’t worry about the ups and downs in the interim.

      That’s cold comfort when your portfolio has lost 20% or even 30% of its value in a stock market crash. Just look at the market this month and you’ll know what I mean—or think back to early 2020 when the Covid-19 pandemic began.

      https://www.forbes.com/advisor/investing/stock-market-crash/

  24. The Financial Times
    Bitcoin
    Crypto stocks sink as Bitcoin tumbles to new six-month low
    Digital token has fallen 50 per cent from the high it reached in November 2021
    A technician removes a cryptocurrency mining rig from a rack at a Bitfarms facility in Saint-Hyacinthe, Quebec, Canada
    Bitcoin slipped 9 per cent in afternoon trading in Europe to $33,307, its lowest point since mid-July.
    © James MacDonald/Bloomberg
    George Steer yesterday

    Bitcoin sank to a new six-month low on Monday, leaving the digital token 50 per cent below its November peak and pulling down the shares in companies whose fortunes are tied to the cryptocurrency market.

    The price of the digital coin slipped 9 per cent in afternoon trading in Europe to $33,307, its lowest point since mid-July. Although it remains the world’s biggest cryptocurrency by market value, Bitcoin has lost more than half its value since peaking at just under $69,000 last year.

    The broader digital asset market has also come under intense selling pressure, with an FT Wilshire index tracking the top five digital coins excluding Bitcoin down 27 per cent in 2022.

  25. This is a urine soaked mattress article.

    The Atlantic — The Anti-vaccine Right Brought Human Sacrifice to America (1/25/2022):

    “Since last summer, the conservative campaign against vaccination has claimed thousands of lives for no ethically justifiable purpose.”

    https://archive.is/I7NOu

    No ethically justifiable purpose?

    How about My body, my choice, @sshole.

    The globalist author of this article, Kurt Andersen has an address where he lives. The patterns of his day to day comings and goings would not be difficult to detail.

    Article link courtesy of NoNewNormal dot win, and archive link provided because we do not give clicks or revenue to globalist sh*trags like The Atlantic.

    1. The Anti-vaccine Right Brought Human Sacrifice to America

      They really are cranking up the hyperbole.

      Never mind that every time someone gets the jab, they are the ones being sacrificed.

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