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Prices Are Falling And The Property Market Craters

A report from Spectrum 1 on Massachusetts. “‘Landlords have gotten hosed the whole time here,’ said Mike DeLuca, who owns 35 rental units in Worcester. ‘It’s all about of the tenants. I’ll tell you right now, these landlords are never going to see the money. Never, ever, ever.'”

From Bisnow. “According to Newmark research, $782M worth of multifamily properties changed hands last year in Washington, D.C., roughly half of the volume in 2019, when there were more than $1.5B in multifamily sales. ‘The regulations have, in effect, frozen the market,’ said Peter Bonnell principal at major D.C. apartment operator UIP Cos.”

From City Limits. “Hundreds of thousands of New York households have fallen behind on their mortgages or property taxes during the pandemic, putting them at risk of losing their homes after statewide foreclosure protections expired earlier this month. A disproportionate number of those households are Black, Latino or Asian, potentially triggering a loss of equity in communities of color that outpaces even the 2009 financial crisis, experts say.”

“‘We are seeing mortgage distress rates that are really alarming and dwarf the numbers we saw during the Recession,’ said Jacob Inwald, the director of foreclosure prevention at Legal Services NYC.”

The Philadelphia Inquirer. “Burlington, Camden, and Gloucester Counties are among the housing markets nationwide that are most vulnerable to pandemic downturns, according to a year-end analysis by real estate data provider Attom. The analysis measured percentages of homes at risk of foreclosure, how much of the average local wage is required to pay monthly home costs, and percentages of homes that are worth less than homeowners owe.”

“New Jersey — in particular, areas near Philadelphia and New York City — has one of the highest concentrations of at-risk markets, according to Attom. Atlantic and Cumberland Counties in South Jersey were also among the top 50 most at-risk markets, which were mainly on the East Coast. Elsewhere in the nation, counties in the Chicago area and across California also are more subject to the effects of the pandemic.”

From 12 News on Arizona. “The area known as Rio Verde Foothills looks abundant, from the desert landscaping to the red-tile roofs. But one thing isn’t abundant: Water. The wealthy community north of Scottsdale is the site of the latest skirmish in a coming water war. There have been screaming matches, property damage and death threats, according to the people who live there. The hostilities are to the point where the residents who spoke to 12 News (KPNX-TV) wanted to remain anonymous.”

“Many residents have told 12 News that they weren’t made aware of the issues before it was too late. Residents who asked to remain anonymous in fear of retaliation said the following: — ‘That agent that we bought from didn’t mention at all the fact that water would be getting cut off.’ — ‘It’s something you would never, ever think to ask. (Not having water) isn’t a common thing you’d expect you’d have to do due diligence on. We closed on our house in November and it wasn’t until we started talking to neighbors that we realized that water was set to be cut off.'”

The Real Deal on California. “One of America’s best known comedy hosts is getting serious about unloading his estate in Bel Air. In October, less than a year after buying it, Trevor Noah put the airy, 11,400-square-foot mansion on the market for $29.8 million. Last Thursday Noah relisted the property for $27.5 million — the same price he paid for it in late December 2020.”

From Market Watch. “Former Federal Reserve Governor Randal Quarles said Tuesday that he thinks the Fed will move swiftly to raise its policy interest rate above the inflation rate because that is the only way to defeat inflation. When the policy rate is above inflation, it is what is known as a positive real rate of interest. Asked during a forum sponsored by a think tank focused on central banking, whether he thought the Fed would engineer positive real interest rates, Quarles replied: ‘The short answer is yes.'”

“‘We will see positive real interest rates, I think we will see that sooner rather than later because I think that is what will be required to get on top of inflation,’ Quarles said. Quarles said the policy framework the Fed adopted in 2020 meant that the central bank would wait until it saw ‘the whites of the eyes’ of inflation before raising rates. ‘We never said we’d let the army march over us,’ he said. ‘The army is on top of us. The Fed will act and it will be successful at containing inflation,’ he said.”

“There are unintended consequences of Fed raising interest rates significantly, Quarles said. The cost of financing the federal government will increase dramatically, he said, and there is the potential for unintended consequences from a private economy that has grown used to very low interest rates for a long period of time.”

From Reuters. “Today’s central bankers have the unenviable task of weaning a pandemic-hit global economy off cheap money amid unprecedented sovereign debt levels and with asset prices inflated by years of stimulus and near-zero interest rates. What’s more, the risk of errors may be all the greater given that many of them have no experience of raising interest rates – and hardly any have ever had to do it in the face of inflation at multi-year highs and pushing way beyond target.”

“In 2020, the largest ever one-year surge since World War II put global debt at $226 trillion, with debt held by governments alone rising to a record 99% of global output. At those levels, even a small move by central bankers to raise the cost of borrowing will be felt by national treasuries.”

The Daily Telegraph. “The dream of home ownership has slipped further out of reach for young Australians following a year of sharp price growth across the nation. Recent CoreLogic data showed home values increased more than 22 per cent throughout 2021, with Sydney prices surging 25 per cent to a median value of $1,098,412. For houses, this growth had been even sharper. Finder analysis showed values surged 39 per cent year-on-year to $1.3m – a figure estimated to be more than 11 times the average income of a Sydneysider.”

From Stuff New Zealand. “Roughly 60 per cent of home loans will need to be refinanced in the next year and for many borrowers, that will mean their interest rates doubling, according to Corelogic. CoreLogic chief property economist Kelvin Davidson said during the middle of last year, fixed-term interest rates were between 2 per cent and 2.5 per cent, and by mid-2022 they would probably be between 4 per cent and 5 per cent. With fixed-term periods generally evenly spread throughout the year, Davidson said as much as 20 per cent of fixed-term borrowers could be hit by that doubling as well as those on floating rates.”

“CoreLogic’s report highlights the impact of the runaway property market, with the total value of residential real estate reaching $1.72 trillion at the end of last year. That was 27 per cent above the total value of all residential property at the end of 2020, when the market was valued at $1.35t. Davidson said roughly a fifth of that $1.72t was made up of mortgage debt. He cautioned that despite seeming quite sound at the headline level, household debt was high relative to income. ‘To some extent the debt has only been sustainable recently because of low mortgage rates,’ he said.”

“CoreLogic data also showed the demand-supply imbalance was changing, with more properties appearing on the market even as fewer people were buying, suggesting a shift to a buyer’s market. ‘We suspect that by mid-2022 the balance of power could tip towards buyers,’ Davidson said. The rise in property listings was shown by a marked increase in listings on RealEstate.co.nz, which recorded 30 per cent more houses on the market in December than a year before (which equated to 4000 more homes being for sale) with stock more than doubling in four regions.”

From Bloomberg. “On the surface, the recent land auction by the Chinese city of Rizhao appeared routine. There were four bids, pushing the price up 11% to $170 million. A closer look reveals something curious: The offers were reportedly made by a finance entity owned by the Rizhao government, meaning the city effectively sold land to itself.”

“Across China, local government financing vehicles have replaced cash-strapped property developers as the biggest buyers of land for real estate development, stoking fresh concerns over the ability of these off-balance sheet borrowers to repay a debt pile that tops $8.4 trillion by some estimates. In nine of 21 large Chinese cities that packed in land sales over the last two months of 2021, at least half of the plots were bought by these so-called LGFVs, according to consulting firm China Index Holdings. Some of these purchases were worth billions of dollars.”

“‘Purchasing land will usually lead LGFVs to pile up borrowings and increase leverage,’ said Yuqing Fu, a portfolio manager of the HSBC Jintrust Stable Income Bond Fund. ‘It’s not easy for them to pare them down afterwards.’ Risks are rising on a few fronts. The vehicles are scooping up land just as prices are falling and the property market craters.”

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This Post Has 184 Comments

  1. A recent winnah!

    ‘It’s something you would never, ever think to ask. (Not having water) isn’t a common thing you’d expect you’d have to do due diligence on. We closed on our house in November and it wasn’t until we started talking to neighbors that we realized that water was set to be cut off’

    1. Thanks for posting this, Ben. We’ve had a lot of water discussions here and it looks like you picked up on it. 🤗

      When someone says “water-haul,” I think of decrepit shacks occupied by meth-heads and old hermits who want nothing to do with society. Not $600K karen-ranches on some exclusive sand-hill. You live in a desert and didn’t ask where your water was coming from? Oh well, plenty rainy land back East if you’re so inclined.

    2. “LAS VEGAS — Water leaders in Arizona, Nevada and California signed an agreement Wednesday to voluntarily reduce their take from the Colorado River to help stave off mandatory cuts in the upcoming years”.

      https://abcnews.go.com/Technology/wireStory/states-sign-voluntary-cutbacks-colorado-river-water-81761170

      Lake Mead went below 1079 feet as of January 1st, 2022, the first time since the original fill-up of the reservoir. That triggers automatic conservation measures for NV and AZ. California had until the 1035 foot water level got hit. They must think that working with NV & AZ presently on this agreement will help them politically as the water slowly recedes to zero. Lake Mead has been on suicide watch ever since the Central Arizona Pipeline (CAP) was signed off on and Arizona put their beak into the lake to collect their legal water rights.

      Too many straws in the cup.

      There’s also $200 million in the agreement to pay water using entities, mostly farmers, not to use water.

      Should have listened to Sam Kennison:
      https://www.youtube.com/watch?v=wAgUICswZuY

        1. In the tropics the lawn needs to be mowed in the late morning before the rain arrives. Funny thing, you can almost set your watch based on the rain’s daily arrival. Lawn watering is mostly a thing in the 17 arid western states.

  2. ‘There were four bids, pushing the price up 11% to $170 million. A closer look reveals something curious: The offers were reportedly made by a finance entity owned by the Rizhao government, meaning the city effectively sold land to itself’

    So getting into a bidding war with itself. Again, how do these clowns get any rating from moodys, etc? Take a look at this to see what monsters we are dealing with like it’s normal:

    ‘Huabao International Holdings Ltd. sank a record 67% in Hong Kong trading after the flavoring and fragrances company disclosed that Chairwoman Chu Lam Yiu was being investigated for suspected disciplinary violations.’

    ‘For investors, the fall is another stark reminder of what’s known as “key man risk” in China. In the past five years, at least five Chinese executives went missing, were unreachable or detained, sending shares of the companies tumbling.’

    https://finance.yahoo.com/news/hong-kong-billionaire-loses-half-085034120.html

    Went missing? Why on earth are we doing business with this country?

    1. Isn’t selling to yourself a prime example of Fraud 101?

      “I just sold my violin to myself for $1 million. It’s a Stradivarius.”

      1. ** “I just sold my violin to myself for $1 million. It’s a Stradivarius.”

        does it resemble the one ben plays every friday after he clears his desk?

      1. “Why on earth are we doing business with this country?”

        Because our nation is a nation composed of vast multitudes of totally dumbed-down ignorant pukes.

        1. Well I do have to say, last year I sent off a printed circuit board design to two different manufacturers, one in Portland, OR, and the other in Shenzhen, and I think the one in Shenzhen did a better job. It just took longer because of the shipping.

          1. Well I do have to say, last year I sent off a printed circuit board design to two different manufacturers, one in Portland, OR, and the other in Shenzhen, ”

            Complicated design ? Multi lamination with blind buried vias ? sometimes the newest equipment is in China. Just like Chip Foundries. Shortages ? ” Here’s the deal chips were created in the USA” Joe Biden . Here’s the deal dumbasss you and others allowed all technology to siphon off to china to increase profits . Good luck in the next war

          2. No, it was pretty simple, just two sides, about 20 components, all through-hole. I don’t think it needed super high tech equipment to make it, just good attention to detail.

          8. Advanced circuits is Ok for simple boards not sure if they Gold Plate with the special ? Maybe you don’t need gold plate ?

            I used them many years ago for prototyping simple 2 sided boards . FR4 .

          9. It sounds like there are a bunch of EEs in here. It brings back memories to either this blog or another bubble blog from about 2005, when the blog host asked everyone what their occupation was, and a disproportionate amount of the people (maybe up to 1/3) were EEs. Smart cookies.

          11. Sierra Proto Express in Sunnyvale, been using them for about 15 years for low volume, low tech PCBs, without any problems. They do considerably higher tech, too, but haven’t needed it.

            There are some other local places such as Royal Circuit Solutions in Hollister, but we’ve been happy with Proto Express.

    3. “…Why on earth are we doing business with this country?…”

      Walk into any big box home store.

      Not unreasonable to estimate that 80% of inventory is made in China or Asia locales.

      So much is low quality junk. Example: Hardware such as nuts, bolts, screws and the like. Soft, low strength material. Dangerous to use in many applications. Don’t even get me started on electrical.

      1. I made a gate using wood screws form Home depot. Then a Wind storm came , we get them all the time . Gate looked funny took me a few minutes to figure out what happened. Most of the screws sheared off and the boards were hardly hanging on to the 2×4’s. Junk screws from home Depot go figure the Chinese junk store.

        1. “…Most of the screws sheared off and the boards were hardly hanging on to the 2×4’s…”

          Yep. Similar experience when building backyard planters. In my case screws didn’t shear, they just rusted away in months. (Replaced with Stainless screws, USA made)

          I now order from McMaster-Carr or Grainger. Fasteners may be fractions of a penny more expensive, but much higher quality. With today’s fast shipping from UPS, FedX I have had orders routinely delivered by next day if you make the early afternoon order cutoff.

          No need to keep the Chinese junk manufacturers in business.

          1. McMaster Carr used them at work when we were small and it was easy to order for the lab. I guess I could set up a home account ? Much better selection that’s for sure.

      2. As a curiosity, then where should homeowners get the better-made materials? Ace Hardware? Online? Sincerely curious, thanks.

        1. “… Where to go…”

          McMaster-Carr or Grainger (both have excellent web sites)

          You can setup an account, it very easy. Ship by FedX, UPS, even easier.

          Another bonus is that both McMaster-Carr , Grainger inventory is far, far deeper than any typical retail outlet.

          For example, I needed some metric sized straight brass tubing for a project not long ago. You would *never* find such item in a typical retail store.

          Finally, both sites have message / chat systems in which you can submit technical issues to staff who actually are experts. (Much like the staff of family owned local hardware stores of decades ago).

    4. So getting into a bidding war with itself. Again, how do these clowns get any rating from moodys, etc? Take a look at this to see what monsters we are dealing with like it’s normal:

      ‘Huabao International Holdings Ltd. sank a record 67% in Hong Kong trading after the flavoring and fragrances company disclosed that Chairwoman Chu Lam Yiu was being investigated for suspected disciplinary violations.’

      Federal Reserve Vice Chair Richard Clarida quietly admitted last month that he had failed to fully disclose financial trades he made at the onset of the pandemic, the latest revelation in a string of ethics problems at the central bank.

      The new disclosure, reported Thursday by the New York Times, casts doubt on the explanation previously provided by the Fed, that Clarida’s sale of the fund represented a pre-planned “rebalancing.” That’s a term investors use to describe portfolio adjustments designed to maintain a certain proportion of stocks and bonds as market conditions change. The Fed did not release a public statement at the time revealing Clarida’s latest move.

  3. ‘Noah relisted the property for $27.5 million — the same price he paid for it in late December 2020’

    Wa happened to my red hotcakes UHS?

    1. ‘percentages of homes that are worth less than homeowners owe’

      Alright, this is unpossible. If they owe more than it’s worth, that would mean the 30-50-70% YOY increases didn’t happen! The clowns will say ‘pockets’ are ‘at risk.’ Pockets like California.

    2. Don’t forget about the 6 percent inflation rate. His property is worthless…er…I mean worth less than when he bought it.

  4. Re-post from the last thread, 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. Jabbing kids is human sacrifice. Aborting babies is human sacrifice.

      It gets really old when Satanists insist on lecturing us on morality.

  5. Are even libtard Hollywood actors getting fed up with out-of-control crime in Democrat-Bolshevik malgoverned cities?

    EXCLUSIVE: Michael Rapaport films brazen thief sauntering out of Upper East Side Rite Aid with bags full of stolen goods while security guard does NOTHING: Actor slams NYC’s woke bail reform and says ‘we have to put more of these criminals in jail’

    https://www.dailymail.co.uk/news/article-10441591/Michael-Rapaport-confronts-Rite-Aid-thief-fills-bag-saunters-Upper-East-Side.html

        2. You can love his music but dislike the person

          Not really. Used to love him, but I just threw him on the woodpile along with Springsteen, DeZero and the like.

  7. “..One of America’s best known comedy hosts is getting serious about unloading his estate in Bel Air. In October, less than a year after buying it, Trevor Noah put the airy, 11,400-square-foot mansion on the market for $29.8 million. Last Thursday Noah relisted the property for $27.5 million — the same price he paid for it in late December 2020…”

    Trevor won’t be laughing much after he discovers the true holding costs of maintaining such a monster. His business manager (assuming he has one) can’t be the sharpest knife in the set.

    Trevor Noah is but one example of a recurring theme here on the HBB for many years. So many Hollywood show biz types may be able to hold an audience, but they can’t balance a checkbook.

    1. may be able to hold an audience

      Can he even do that? He’s the host of Comedy Central’s The Daily Show. He and his cadre are insufferable globalist puppets.

  8. well it’s so obvious how buying a house, handled by a chatty / gossiping realtor, would have exposed that little “water” issue.

    1. That’s unpossible! We are told she is Kiwiland’s most loved and popular PM of all time!

      And locking down over nine cases! NZ will be locked down forever unless they depose their tyrant.

      1. The New Zealand prime minister has delayed her wedding amid an omicron surge throughout the country, the Associated Press reports.

        What, she can’t have a quiet ceremony with a judge and two witnesses? Or is it because she wants her “Princess Day”? She’s already Prime Minister. Maybe she can start printing NZ dollars with her face on them?

        A surge? I looked on Worldometers. 60 cases a day is not a “surge”.

  11. Crypto fraudster Stefan Qin reveals why he stole $123m

    A Canberra-born crypto crook who swindled $123 million from investors has given a tell-all interview about why he did it before entering prison.

    ‘An Aussie crypto fraudster, who stole $123 million from investors and spent most of the money on sugar babies, has given a tell-all interview claiming “greed”, bullying and an ex-girlfriend caused his offending.’

    ‘Stefan Qin gave the interview before he was due to start a 7.5-year prison sentence in New York, after he was found guilty of deliberately misleading Australian and US investors and falsifying account statements while running his crypto outfit Virgil Sigma Fund.’

    ‘In the video published on YouTube, he shows the camera crew around his three bedroom New York apartment, which he rents for $US24,5000 ($A34,000) a month, that includes “Instagrammable” views from the master bathroom. The Canberra-born man outlines the two factors that contributed to his downfall.’

    “First of all I had a betrayal from my co-founders, it wasn’t so much a betrayal as in a split of opinion, and the second thing is I lost my virginity in 2017, which was huge to this girl, and I was madly in love with her and then she cheated on me with some guy who was richer than I was,” he said. “You have this beautiful girl that you think you are going to spend the rest of your life with and you’re not rich enough for her.”

    “But long story short because my co-founders left now I was the one who was 100 per cent in control of the entire company and if you’re 21 years old and you’re the only one with access to all these bank accounts that’s a recipe for disaster and that’s essentially what happened.”

    https://www.news.com.au/finance/money/investing/crypto-fraudster-stefan-qin-reveals-why-he-stole-123m/news-story/f9884d08c801512573c367fc59aafe7c

    1. Poor Stefan definitely got f__cked in so many ways…

      “First of all I had a betrayal from my co-founders, it wasn’t so much a betrayal as in a split of opinion, and the second thing is I lost my virginity in 2017, which was huge to this girl, and I was madly in love with her and then she cheated on me with some guy who was richer than I was,”

    3. Something tells me this guy is the epitome of all things crypto:

      “When the investigation was announced into Mr Qin’s fund, he was in a hotel room in Korea with a sugar baby and at the “lowest point of his life”.

      He asked the girl to stay an extra day but she required more money and at this point he realised this “wasn’t a real relationship” and decided to surrender himself within two days.”

      1. I sure hope I’m never old and stupid enough to have a “sugar baby,” much less think she was actually with me because she loved me.

      1. “I spent a lot of money on booze, birds and fast cars. The rest I just squandered.” – George Best

      2. But he fell in love with a gold digger. Inexcusable. Even worse, he blames himself. The MGTOW community will never accept him.

        1. Interesting that you try to speak for MGTOW’ers. Actually many of them have had traumatic experiences with women such as Qin describes, before taking up the MGTOW mindset.

          1. Actually many of them have had traumatic experiences with women such as Qin describes”

            Juicers is what they call them around here. Women who get money from stupid men they juice them. I get this info my my Calabasas co-worker . its how they do it in the city like that song by Rad Anthem with all the fast food characters in the video. Still cracks me up if you can still find it ?

          2. Juicers is what they call them around here.

            That’s funny. These guys are friggin’ stupid. And if you ever check out a hot gal’s Youtube channel, IG, etc., it full to the brim of thirsty betas begging for her attention, showering her with praise as if that’s a way to her heart. These guys have a knack for repulsing women.

  15. ‘When the policy rate is above inflation, it is what is known as a positive real rate of interest. Asked during a forum sponsored by a think tank focused on central banking, whether he thought the Fed would engineer positive real interest rates, Quarles replied: ‘The short answer is yes’

    Oh dear…

    2. Once the inflation genie escapes from the bottle, is it easier or harder to return to the bottle than an actual genie? LOL!

    3. Positive real interest rates would make cash king again. Probably also mean the exit of many “investors”.

        1. Not for the past 5 years at least. My cash was laughed at as debt junkies bid up the prices of houses, cars, RVs and everything else under the sun. I am hopeful that one day again in the future car dealerships are on their hands and knees, begging for a cash sale.

          1. I am hopeful that one day again in the future car dealerships are on their hands and knees, begging for a cash sale.

            They pretty much were during the summer of 2020. Of course now they have no inventory,

          2. that one day again in the future

            I’d rather gamble on having a pocket full of cash rather than a wagon full of debt. Any day.

    1. What do those giant gaps between the recent descending pattern of tick marks mean? It kind of reminds me of an airplane in a tailspin, but perhaps I misinterpreted the figure.

      1. $1000 lumber is about as attractive as a bunch of garbage mortgages once the Fed 1) stops buying them and then 2) starts unloading them. Who’s gonna crash harder, timber companies or mortgage bankers? It’s a toss up.

        1. Who’s gonna crash harder, timber companies or mortgage bankers?
          Mortgage bankers are going to get Crushed. Lots of former highly paid people will be looking for new positions. If volume tanks 50%, which is certainly possible, ( depending on rates) compared to 2021, a lot of newly poor people with, most likely, a lot of high priced toys they still need to payoff.

  17. I just got this email:

    42 New-Built Home in 3 Highly Desired Texas Metro Areas, Austin | San Antonio | Houston, TX- VIP Intro

    This build to rent thing has suckers written all over it.

    1. I’m sure those houses were carefully planned and built, with no shoddy construction or shortcuts, and the finest materials, right?

  18. “A disproportionate number of those households are Black, Latino or Asian, potentially triggering a loss of equity in communities of color that outpaces even the 2009 financial crisis, experts say.”

    But a large number of people of color disproportionately benefited from government affordable housing programs to benefit members of selected ancestry and skin color.

    So on average, it’s all good.

    1. How quaint. When making a case for mortgage bailouts, Asians are suddenly BIPOCs and not white, like they are when they apply for admission to college.

      1. The one that really gets me is, how are asians the victims of so many hate crimes, when 95% of the time the perpetrators are black, but black people can’t be racist? My mind is blown…

        1. In the American west Asian men built Leland Stanford’s railroad while their women were forced into prostitution. Seventy years later they were forced into WWII internment camps losing businesses, homes and property. But that hasn’t stopped them from rising to the top of our Universities. The blacks among others can’t stand being reminded of Asian-American tenacity.

        2. My mind is blown

          Narratives are allowed to contradict themselves. They don’t have to make sense, just be repeated often enough until enough people believe them.

  19. Huffington Post — New Studies Offer Reassurance On COVID Vaccines And Fertility (1/25/2022):

    https://archive.is/qpS3l

    Note that this article uses the language “pregnant people” and not pregnant women.

    Imagine taking medical advice from a source this ignorant of the basic biology that there are only two genders.

    There are only two genders. And the “vaccine” is why you can’t conceive or your baby is stillborn.

    COVID “vaccines” are genocide.

    1. Losing a pregnancy sounds traumatic, but I can’t imagine the horror of losing a child to these “vaccines” that are not vaccines.

      Klaus Schwab, Bill Gates, Anthony Fauci need to be arrested, tried, convicted, and executed for perpetrating this genocide.

      1. I can’t imagine the horror of losing a child to these “vaccines” that are not vaccines.

        Yet there is no shortage of brain dead parents who say they would do it again.

  20. Well here I am…almost 12 years into homeownership after all those prior years of sitting on the sidelines. Now my son is getting ready to graduate HS and go to college. My plan has always been to sell when he graduates, and downsize to a rental property. I currently live in PA. He is probably going to go to college in FL. Florida does a lot of things wrong, but they do higher education very right so I am looking to move there to establish residency and get him very affordable tuition.

    But…now rents are through the roof, and even if I considered buying a condo or townhouse, they are snatched up in nanoseconds. How…are…we…back…to…what…I…went…through…12…years…ago? Man, I have terrible timing.

    I’m now at the point where I’m hoping he gets a good out of state scholarship offer so I don’t have to make a move right away. I just don’t see the market adjusting any time soon. It’s really the wild west out there.

    1. “Now my son is getting ready to graduate HS and go to college. My plan has always been to sell when he graduates, and downsize to a rental property.”

      My plan was an affordable house paid in full before the kids entered college. Good thing as WSU Pullman is $10k per semester, which also includes his apartment rent. But there’s also the Toyota pickup expenses, and his weekly grocery shopping too. All paid in full as the expenses occur; no loans.

      1. You seem like a good parent. However, I seem to recall you drive a junky old Corolla or something. Don’t tell me you are one of those parents who bought their kid a fancy, brand new truck which is nice than their own vehicle? Because I can’t stand that crap and I don’t know where it came from. No kid needs that. They need a POS until they can work and buy themselves something nice. That’s what we had to do when young.

        2. My son drives a 2001 Toyota Tacoma that he restored himself with occasional help from me. My daughter drives one of the last models of V6 Honda Accord Coupe that is the lowest mileage vehicle in our household keeping her insulated from the vagaries of society.

          1. Forgot to say that I carry all our vehicle’s operating expenses, e.g., fuel, insurance, tires, etc., which add up!

        3. Drove a 2006 Pontiac Vibe (bought used in 2007) until last March when I handed it down to my son and bought myself a new Hyundai Tucson.

    2. You bet on home price appreciation to finance life choices. Don’t expect much sympathy here because that bet isn’t paying off.

      1. Not what I did at all. I wanted to keep my son in this school district from 1st through 12th and there aren’t many rental options so I bought knowing I’d stay put for more than a decade. And frankly, if I were betting, that did pay off because my house is worth a crap ton more now than when I bought it. My point was just that once again we are in challenging housing times.

          1. Hi BlueSkye! Yes, I know. He actually got accepted to PSU main, but PA’s public school tuition (esp. PSU) has gotten ridiculous. And they don’t offer much in terms of scholarships. I’m trying to help him graduate without a mountain of debt. PSU is my alma mater and previously I would have loved for him to go there. But college searching is an eye opener. https://www.inquirer.com/business/student-debt-pennsylvania-colleges-penn-state-20191127.html

            He also got into UCF and they offered him money to reduce the out of state tuition. It’s cheaper for him to attend there oos than to go to PSU in state. I’m hoping UF admits him and he gets their top oos scholarship as well because that’ll take his tuition down to just $2K over annual in state. Then I don’t have to worry about moving/residency.

        2. that did pay off because my house is worth a crap ton more now than when I bought it

          Unrealized gain

    3. “How…are…we…back…to…what…I…went…through…12…years…ago?”

      In my little part of Region IV, Jupiter Florida the insane shack prices are waaaaaay beyond what they were 12 years ago.

      Even though I am a shack owner I am just waiting for these shack and rent prices to… https://youtu.be/V96XZOvnsZg?t=189

      2. Yeah, it’s nuts. I’m looking in Venice/North Port. I’m fortunate that I have friends there who have said I can stay with them until I find a place – no matter how long that may take. But I just can’t believe the insanity. I think this is worse than 2000s.

      3. Large scale exodus from crumbling communities in the northeast and rust belt will likely keep FL housing prices elevated. Even CalifornIans are packing up and moving across the country to FL.

        1. Even CalifornIans are packing up and moving across the country to FL.

          Say goodbye to the tiny Argentinian ants (I do not miss those pests); and say hello to bugs from your nightmares.

          2. And alligators.

            In my nabe we often get elk walking through. I wonder what I would think if I looked out a window and saw a gator walking down the street.

    4. You prolly won’t see this, but the way to go is this.

      Send him down and enroll him in the community college with the highest transfer rate.

      He needs a job and a driver’s license. Tax return and license establish residency.

      After a year withstraight as, transfer into school of choice with in-state tuition.

      Much cheaper than your plan of relocating into a deflating bubble with gov policy keeping rents inflated.

      Of course, you’ll have to trust your kid.

  22. But…now rents are through the roof, and even if I considered buying a condo or townhouse, they are snatched up in nanoseconds”

    I know I was thinking about moving to Tucson AZ but now ? Systemic shortages and Inflation causing panic buying . Not good.

      1. The Columbia Basin is a scrub desert that’s unbearably hot 2-months of the year and bitter cold for another 4-months.

      2. The Sonoran desert is the most inhospitable place on earth, aside from possibly Antarctica. The native Indians never lived there in large numbers, preferring the jungles of central America to the south.

    1. The newer parts of 92127 have high house prices, high HOAs and Mello-Roos. I would expect those residents to have a difficult time with our current economic winds.

        1. They’ll be my nearest neighbors rushing for the exit if they can get out from hiding under their beds. I was told last night that that part of the school district still relies heavily on Zoom for parent interactions.

  25. Re: the central bank would wait until it saw ‘the whites of the eyes’ of inflation before raising rates.

    How does a blind man see the whites of the eyes? Or, someone who deliberately keeps his eyes closed?

    1. “How does a blind man see the whites of the eyes?”

      Oedipus experienced clarity only after he blinded himself.

    1. The Financial Times
      Opinion Markets Insight
      The Fed policy error that should worry investors
      By abandoning a systemic framework for monetary policy, the central bank has spawned an all-asset speculative bubble
      John Hussman
      Exterior of Federal Reserve lit up in the dark
      The FED appears to be walking a tightrope, with the potential for a policy error at each side
      John Hussman yesterday
      The writer is a philanthropist, investor and economist

      The stock market has been jolted from its record highs in recent weeks, as investors who rely on low interest rates to “justify” steep valuations have been confronted with the prospect of tighter monetary policy.

      This might be a prelude to more turmoil. The US Federal Reserve appears to be walking a tightrope, with the potential for a policy error at each side.

      On one side, US consumer price inflation reached an annual rate of 7.1 per cent in December, and the central bank appears behind the curve to contain it as it continues to expand its balance sheet, keeping its benchmark fed funds rate near zero. On the other side, the inflation spike has emerged at the same time as supply disruptions, a gradual narrowing of pandemic-related fiscal deficits and indications of weaker business activity. This leaves the Fed at risk of tightening policy into a slowing economy.

      Yet these risks may be minor compared with the policy error the Fed has already made, by abandoning a systematic policy framework for more than a decade, in favour of a purely discretionary one.

      “Systematic,” in this context, means a framework where policy tools such as the level of the fed funds rate maintain a reasonably stable and predictable relationship with observable economic data such as inflation, employment, and the “output gap” between real gross domestic product and its estimated full-employment potential.

      Systematic policy allows individuals and financial markets to anticipate the general stance of monetary policy based on observable data. In contrast, purely discretionary policy is like inconsistent parenting; having set no boundaries, any failure to appease is met with wails of surprise, crisis and tantrum.
      …

  30. Supreme Court Justice Breyer plans to retire before midterms. Get ready for another diversity hire.

    1. “Supreme Court Justice Breyer plans to retire before midterms.”

      That certainly smacks of politics. Even the high court realizes the Democrats are going to be phuc’d in the midterms!

      2. So … if Harris replaces Breyer, after receiving an offer she can’t refuse, who would replace her?

        I don’t see the Hildebeast being approved by the Senate. So who? Beto? Gabbard?

        I think they would try to replace her with someone who gives off a very middle of the road vibe, someone a few Republican senators could vote for.

        1. They couldn’t replace her with anyone if the Republicans stand firm, because confirming a new VP requires a majority vote, which the Biden regime wouldn’t have if she left to be on the Supreme Court.

          That’s the only reason Brandon is still more or less upright on occasion rather than having had a bad “accident”.

      1. U.S. Supreme Court Justice Stephen Breyer is retiring, giving President Joe Biden a chance to fill his first vacancy on the court—an opening he’s pledged to fill with the court’s first-ever Black female associate justice.
        I pulled this storyline from Bloomberg.

          1. It was some federal appeals judge who looked very young. I’m sure they’d like to get rid of Heels up Harris, but she’s 57 and I think they want someone to serve for 30+ years.

        1. Black, trans, “female”, gay, Muslim, wheelchair bound, obese, and immunocompromised. Liberals would argue that “she” should get 8 votes.

  31. Per Thomas Renz’s 3 DoD whistleblowers using Defense Medical Surveillance System ambulatory diagnosis data:
    300% increase in miscarriages
    300% increase in cancer
    1,000% increase in neurological issues
    269% increase in myocardial infarction
    291% increase in Bell’s palsy
    156% increase in congenital malformations
    471% increase in female infertility
    467% increase in pulmonary embolisms

      1. Sadly, yes. Dr. Ryan Cole noticed the trend in his own practice and has presented a number of times on the mechanism. It was that information that convinced my father, who had bypass surgery two years ago and is already on massive blood thinners, and my step-mother, who’s in remission from breast cancer, not to take another jab. It’s unsettling knowing that they’ve been jabbed with the hottest lot. I haven’t told them that.

        1. I have two other family members who are lucky to be in remission. I know for sure one is jabbed. The other one is likely to be as well.

    1. The gooberment is doing everything they can to boost the death counts. They haven’t yanked Ivermectin because they’ve been threatening doctors who might prescribe it.

      1. Ivermectin prescribing doctor tele-consult $50
        35mg five day dose from local compounding pharmacy $175

        Not dying from clot-shot – Priceless.

          2. I hear you can get 100 12mg pills from India for about that much, and have plenty for others in your family. Although it takes a month to show up, so you shouldn’t wait until you need it.

    2. The Financial Times
      US interest rates
      ‘No more Mr Nice Guy’: Fed chair signals tougher stance on inflation
      Jay Powell refuses to rule out string of aggressive rate rises to bring US prices under control
      Montage of Jay Powell with dollar bill
      Jay Powell repeatedly dodged questions about the central bank’s thinking now that inflation appears to be persistent
      © Financial Times
      Colby Smith in Washington
      2 hours ago

      Jay Powell had always said that if inflation was in danger of spiralling out of control, the Federal Reserve would be willing to bring out the hammer to knock prices down.

      On Wednesday, in his most hawkish press conference since the start of the pandemic, the chair of the Fed gave the clearest signal yet that such a moment was fast approaching.

      “Powell essentially said to the markets and the economy, ‘put on your seatbelt, we are getting ready to take-off,” said Nathan Sheets, global chief economist at Citi and a former under-secretary at the US Treasury. “If inflation doesn’t fall as they expect, the Fed is prepared to be vigorous.”
      …

  40. I always try to pick a tree that needs a home.

    RIP Peter Robbins

    https://twitter.com/NoahPasternak/status/1486192258953228288?s=20

    Peter Robbins (1956–2022), original voice of Charlie Brown

    By Linnea Crowther
    January 26, 2022

    Peter Robbins was an actor who provided the original voice of Charlie Brown in classic specials including “A Charlie Brown Christmas” and “It’s the Great Pumpkin, Charlie Brown.”

    Died: January 2022
    Details of death: Died by suicide at the age of 65.

    https://www.legacy.com/news/celebrity-deaths/peter-robbins-1956-2022-original-voice-of-charlie-brown/

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