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One Home Builder After Another Defaulted On Their Debts Or Pleaded With Creditors

A report from the Sun Sentinel in Florida. “In the wee hours of Thursday morning, the folks who want a private 30-story condo built on a prized piece of taxpayer-owned beach in Hollywood went home without a deal. The project had a fan in longtime Hollywood resident Jack Izzo. ‘You’re looking at a gift right now,’ he told commissioners. ‘They’re not your normal shyster developers. This is something we need. I don’t want to say we’re down in the dumps. But we need money. The needs of the many outweigh the wants of the few.'”

A press release. “A new Zillow survey finds even those who are successful often make compromises and can suffer from buyer’s remorse. Zillow’s survey finds three-quarters of those who successfully purchased a home in the past two years say they have at least one regret about the home they bought (75%).”

From Redfin. “Price decreases at the metro level are starting to show up in a variety of locales. As buyers show signs of fatigue from the competitive market and greater concerns about affordability as prices rise, decreases are becoming more common across the board. The metros with the most price decreases this year include fast-growing and expensive metros like Seattle, growing but affordable markets like Fresno, and slow-growth markets like Buffalo.”

“3. Denver-Aurora-Lakewood, CO.Percentage of listings with a price cut: 31.8%. 4. Salt Lake City, UT. Percentage of listings with a price cut: 30.6%. 1. Fresno, CA.Percentage of listings with a price cut: 42.4%.”

From WFAA in Texas. “A significant number of Dallas-area homes saw their prices decrease in 2021. The analysis from a home services online marketplace, found that 18.4% of listings experienced a price cut in the Dallas metropolitan area. This 18.4% mark earned by Dallas was the 28th largest among large cities in the U.S. The only large cities in Texas ranked above the Dallas metropolitan area include Houston (11th) and San Antonio (25th).”

“The five large cities with the biggest drop in home prices include: Fresno, Calif. (42.4%), Indianapolis, Ind. (33.1%), Denver, Colo. (31.8%), Salt Lake City, Utah (30.6%), Portland, Ore. (28.5%).”

From WMTV in Idaho. “The booming Twin Falls housing market may be cooling off just a bit, according to data presented by Chief Financial Officer Breanna Howard. During the presentation of the first-quarter numbers, Howard announced Twin Falls has given out only 38 single-family permits, compared to 156 at this point last year. She admits this could signal that the housing market, which has set permit and fee records in 2020 and 2021, could be on the downturn. However, Howard says it might be too early to know how significant these numbers are.”

“‘It’s not the summer months when people are building, as well. It will be interesting to see where we come out in the second and possibly third quarter of the year, but we’re definitely not on track to have a stellar year so far. Which actually might be good,’ said Howard.”

The Los Angeles Times in California. “Sandra Bullock just let go of one in West Hollywood, selling her condo in the Sierra Towers high-rise for $4.4 million. It’s the second home Bullock has sold in the building so far this year — but the first that made a profit. In January, she unloaded a slightly larger unit a few floors away for $3.6 million, or $1.53 million less than what she paid in 2017. Records show she bought this one for $3.55 million in 2014, so the sale marks a profit of $850,000. Remodeled during her stay, it showcases Midcentury style with clean lines and walls of wood across 1,759 square feet.”

The Mercury News in California. “A big complex of homes and retail that’s been snarled in loan default, federal legal proceedings and two bankruptcy cases has been bought by the property’s lender. Mission Hills Square, a housing, retail, and restaurant project near Interstate 680 and Durham Road in Fremont, has been bought by an affiliate of Los Angeles-based Parkview Financial, according to documents filed on Feb. 2 with the Alameda County Recorder’s Office.”

“Construction began in 2017, but by sometime in 2019, construction halted and hasn’t resumed. In 2019, an appraisal of the partly completed mixed-use complex placed its value at $81.7 million with construction yet to finish. If complete and made available to residential and retail tenants, the project’s value would soar to $164 million, according to the appraisal. But by March 2021, the project’s value in its incomplete stage had plummeted to $24.8 million. If complete, it would be worth $138.2 million, according to a new estimate by the Joseph Blake appraisal firm.”

“‘Since the June 2019 appraisal, the property and market have changed, influenced by the following factors: (1) the COVID-19 pandemic, after which condominiums became disfavored over single-family residences; (2) a sharp increase in material costs and an increase in labor costs; (3) the need to renew permits; (4) apprehension regarding the future condominium market,’ the court papers stated.”

The Independent on the UK. “Property experts have called the top of the latest housing peak, as the average price of a UK home reaches a record high of almost £277,000. Buyers are becoming more tactical and sellers are having to rein in their pricing aspirations, and after a frenzied 2021 the number of transactions are already falling back to more ‘normal’ levels. We’ve been here before, though, and recently, when the artificial support of the housing market through the economic uncertainty of the pandemic, better known as the stamp duty holiday, was withdrawn.”

“But there’s no doubt that the data shows the recent run of huge house price rises has already started to show signs of the drop off. If only in the last month. ‘While forecasts of a housing price reduction have not yet fully materialised it seems inevitable that there will be some sort of slowdown in the coming year. House price growth continues to far outstrip wage growth and now, with a cost-of-living crisis looming, the run of ever-increasing property prices is simply unsustainable,’ says Karen Noye, mortgage specialist for wealth management firm Quilter.”

From Bloomberg. “Iceland’s central bank delivered its biggest interest-rate hike since the 2008 crisis, trying to quell inflation spurred by a rampant housing market. The Monetary Policy Committee in Reykjavik lifted the seven-day term deposit rate by 75 basis points to 2.75%, the highest level in almost two years.”

From CNBC. “Singapore introduced new measures in mid-December aimed at cooling the private and public residential real estate market, which included higher taxes on second and subsequent property purchases and tighter limits on loans. Foreign buyers appear to have been deterred by the new rules. Trisni Djohari, a PropNex real estate agent whose clients mostly come from Indonesia, said she used to receive around 10 to 12 enquiries a month.”

“But she said she only received one enquiry since the cooling measures were announced in mid-December until the time she spoke to CNBC in late January. ‘Most of them state that now they have to think twice [before they] buy property in Singapore,’ she said.”

“Demand was so strong that prices jumped multiple times in a day during one property launch. There were six rounds of price increases, and units sold ranged from $1,400 Singapore dollars per square foot to S$2,000 (between $1,042 to $1,490) per square foot. ‘Pasir Ris 8 was the iconic one,’ said Chantel Neo, a property agent at Huttons, referring to the private condominium in the eastern side of the island, which saw prices climbing during its launch. She said it was ‘quite a shock to the market.’ A number of potential buyers chose not to bid for a unit because the revised prices were too high, she added.”

The South China Morning Post. “Investors seem to have lost their appetite for bonds issued by Chinese developers while rising defaults by an increasing number of cash-strapped companies have pushed the cost of funding for the sector to more than a decade high. Chinese real estate companies issued 48.1 billion yuan (US$7.6 billion) worth of bonds in January in both local and foreign currencies, according to a research arm of KE Holdings, China’s biggest online property broker. That is a 70 per cent slide from a year earlier.”

“Chinese junk bonds have lost 34 per cent over the past six months, according to an ICE BofA Index that tracks US$56 billion of dollar bonds dominated by home developers. The yield has risen to about 23 per cent this week, from 10.5 per cent in June, shutting out borrowers. It reached 25 per cent in November, a level not seen since March 2009.”

“The confidence of the bond investors has been damaged since late last year when one home builder after another defaulted on their debts or pleaded with creditors to extend payment deadlines. While China Evergrande Group, Fantasia, Modern Land and Kaisa Group Holdings were among the major developers that defaulted on their offshore debt amid a liquidity crunch, others such as China Aoyuan Group and Yuzhou Group have joined the list this year.”

Related Posts

New Construction SLASHES Prices

https://www.youtube.com/watch?v=eGPoKw4X9B8 https://www.youtube.com/watch?v=XX6kXLUHaTM https://www.youtube.com/watch?v=teYLckyF63s

This Post Has 114 Comments

  2. ‘In January, she unloaded a slightly larger unit a few floors away for $3.6 million, or $1.53 million less than what she paid in 2017. Records show she bought this one for $3.55 million in 2014, so the sale marks a profit of $850,000. Remodeled during her stay…’

    Sandy took an a$$pounding. Add in the carry costs and lick of paint, etc.

    ‘by March 2021, the project’s value in its incomplete stage had plummeted to $24.8 million’

    We gotch yer bay aryan foreclosures, RE ponzi schemes. Sales under 2017 prices. Yer bubble is long gone.

    3. ** “Sandy took an a$$pounding. Add in the carry costs and lick of paint, etc.”

      one of the few times that phrase has brought a favorable image to mind, butt only the younger, quirky, happy-go- lucky sandy bullock.

      1. You’re talking about the promo images for The Blind Side. Yeah, that little photoshop brought in $300+ million box office.

  3. ‘18.4% of listings experienced a price cut in the Dallas metropolitan area. This 18.4% mark earned by Dallas was the 28th largest among large cities in the U.S. The only large cities in Texas ranked above the Dallas metropolitan area include Houston (11th) and San Antonio (25th)’

    WA?

    “The five large cities with the biggest drop in home prices include: Fresno, Calif. (42.4%), Indianapolis, Ind. (33.1%), Denver, Colo. (31.8%), Salt Lake City, Utah (30.6%), Portland, Ore. (28.5%)’

    The REIC does this on again off again reporting on slashing and sawing. I think it’s to slap around sellers to gin up business. But why would anyone cut prices if it was red hotcakes?

  4. ‘There were six rounds of price increases, and units sold ranged from $1,400 Singapore dollars per square foot to S$2,000 (between $1,042 to $1,490) per square foot. ‘Pasir Ris 8 was the iconic one’

    The winnahs!

    ‘A number of potential buyers chose not to bid for a unit because the revised prices were too high’

    DONG!

    1. But we need money.

      You might take a look at your spending habits. Selling off your inheritance isn’t a good sign.

      2. Selling off your inheritance isn’t a good sign. Having your retirement savings inflated into nothingness is far worse.

    2. The article is worth reading in full just for the crap deal the developer wants. I’m surprised, well, maybe not, that the city would consider this.

      ————–
      Private 30-story, 190-unit condo on a plot that is currently a public beach and community center…
      …”delivering a profit to the developer of $70 million to $100 million.”
      …”could bring the city an estimated $1.4 billion over the course of a 99-year lease.”
      …the city has to use collected rent to build a new park and community center (where?)
      … once the developer walks away, the city partners with the condo association
      …If anything goes wrong, the city bears risk.
      … Pro-condo people said “The needs of the many outweigh the needs of the few,” and “go big or go home.”
      —————-

      The developer walks away with $70 billion in a few years, while the city has to wait and work for NINETY-NINE YEARS to collect $1.4 billion profit??!? Is that building even going to be standing in 99 years? And this is on the beach. Isn’t global warming coming to flood half of Florida any day now?

      And, the needs of the many outweigh the needs of the few? The condo has 190 units and will house under 500 people. How many people use the community center?

  6. Today is Wednesday, February 9th and the narrative of COVID tyranny and lies has collapsed.

    What happens next are arrests, trials, convictions, and executions.

    Unelected globalists created this unscientific medical tyranny. And the mandates for COVID “vaccines” that are not vaccines is, in fact, medical genocide.

    You will face the consequences for your actions, globalists, and know that many, many of you need to die ☠

      1. I’ve been hearing more and more jabbed people say “I’m done, I did my part, no more jabs, I’m moving on with my life.” I’m paraphrasing, but that’s the gist.

        The globalists are losing control, yet they are still trying to project that they have full control. Now they are, almost in lockstep, pivoting to “opening the economy up,” when in reality it’s fed up people ignoring all their bullsh!t rules.

        The fearmongering about “a jab in every arm, they’ll never give up” is horsesh!t, and the people peddling it are part of the problem. When you constantly say “oooooh, look at what big, bad government is going to do to us next” you are assuming a position of helplessness and acceptance, not one of “the fock they are, they’re not doing jack.” Fock these pigs, is what I say.

        1. The fearmongering about “a jab in every arm, they’ll never give up” is horsesh!t

          They will not desist of their own accord. They will have to be stopped, and fortunately, that appears to be happening more and more. But let there be no misunderstanding, they want a needle in every arm.

          2. Luc Montagnier, who won the 2008 Nobel Prize in Physiology or Medicine for his discovery HIV, died yesterday. Suspicious timing given his comments about about SARS-CoV-2, the jabs and Moderna launching an mRNA HIV vaccine.

    2. As popular resistance to tyranny rises, the globalists are starting to back-pedal on their pandemic restrictions.

      Let the good times roll! Fauci says America is almost past ‘full-blown’ pandemic phase and ALL restrictions – including masks – will be winding down ‘soon’ as COVID hospitalisations tumble by 28%

      https://www.dailymail.co.uk/news/article-10493743/Covid-Fauci-says-past-blown-pandemic-phase-restrictions-wind-down.html

      Dr Anthony Fauci has said that America is almost past the ‘full-blown’ pandemic phase and revealed his hopes that all Covid-19 restrictions could wind down in the coming months.

      The chief medical adviser for President Joe Biden, 81, predicted that a combination of vaccinations treatments and prior infections would soon make coronavirus more manageable.

      1. Guess it’s time to update the predictions I first made on January 10.

        1. The public will catch on to the “with COVID/from COVID” discrepancy. <– DONE, except for commies and bedwetters (i.e, where I live 🙄), who will be under their beds forever.
        2. The uptick in hospitalizations from Delta will resolve. <– DONE. The total patients in hospital peaked on January 10. (Maryland data) If you track the timing, those cases were contracted on Christmas, when Delta was still 40% prevalent. But now that Omicron has driven out new Delta cases, there will be no new Delta hospitalizations.
        3. The new hospitalizations from Omicron will be far less, possibly less than flu season. <– MOSTLY DONE. As Omicron gained prevalence over Delta, the number of total hospital patients still dropped even as cases peaked. (Maryland data) The number is not increasing or leveling off, so there must be fewer new admissions. I don't have a flu comparison.
        4. All the hospital patients “with” Delta or Omicron will test negative and be moved from the COVID wards. Or they will be out of the hospital. <– MOSTLY DONE. While the "uptick" in hospitalizations is done, there are still Delta patients who are dying. 😕 Omicron is still in progress.
        5. Those who didn’t get shots will have gotten and gotten over Omicron, likely without being tested or hospitalized. No more pandemic of the unvaccinated. <–IN PROGRESS. The pandemic of the unvaccinated is turning into the "Pandemic of unvaccinated fatties with other medical issues." Now, these people have always been the bulk of hospital patients, but now, they might be almost the ONLY hospital patients (along with the unfortunately immunocompromised). Warning: that's still enough to keep the beating the jab drum.
        6. Cases will come way down like they have in South Africa, and will in the UK. <– DONE. However, expect a small uptick when masks come off and people move around more.
        7. We will come up upon the two-year anniversary of two weeks to flatten the curve. Even the shot/”vaxxed” are getting sick of this. <– IN PROGRESS. The article is showing that even the Dems want to move on.
        8. Spring will come. <– IN PROGRESS. FYI in the pagan calendar, Groundhog Day is the first day of spring. No, I don't put stock in Pux-Phil.
        9. At that point they’ll be forced to pivot. <– IN PROGESS. Fauci sez, "almost done." Walensky sez "Masks forever." Catfight! 🍿
        10. I have made a prediction that this will be over by Easter. Cases and hospitalizations nearly over by St. Patrick’s day, and another month before the government finally gives up. <– ONGOING.

        1. Groundhog Day is the first day of spring. No, I don’t put stock in Pux-Phil. Put your stock in me. For decades now I have made the same prediction on Groundhog Day, which is 6-8 more weeks of winter, no matter what. I make that prediction before I even get out of bed.

      2. Just wait, they are going to claim that it was the jabs that ended the pandemic, and therefore, even though almost no one will be sick, that we will need to keep getting boosters, so it doesn’t come back.

        1. I agree with this prediction, especially since Pfizer and possibly other pharma will have an Omicron-specific booster by then $$$.
          I’m going to tell them to show me the high hospitalization numbers, otherwise they can pound sand.

          1. And if they do show you “high hospitalization numbers”, you’ll get your third jab? Addicted to the Russian roulette high?

    3. Since opposite world applies – the good news that it is done (or people are done with it) will plunge everything into a crash.

  7. ‘Chinese junk bonds have lost 34 per cent over the past six months, according to an ICE BofA Index that tracks US$56 billion of dollar bonds dominated by home developers. The yield has risen to about 23 per cent this week’

    But pooh bear to the rescue?

    2. The yield has risen to about 23 per cent

      Which in reality means you’re probably not going to get paid anything.

    3. At what point does Pooh Bear become Bear Poo in the eyes of the average Chinese? When will a brigade of Chinese peasants raid the emperor’s palace and string up Bear Poo and his CCP minions from lampposts in the streets of Beijing? They won’t go away peacefully.

      2. “When will a brigade of Chinese peasants raid the emperor’s palace”

        In 1989. You might want to look that up.

      3. When will a brigade of Chinese peasants raid the emperor’s palace

        For the past few thousand years that usually happens when disaster and famine occur.

  9. Wisconsin: Mediagenic Afghan Arrested for Sexual Assault, Mayor Says ‘This Doesn’t Define All Afghan Refugees’

    https://pjmedia.com/news-and-politics/robert-spencer/2022/02/08/wisconsin-mediagenic-afghan-arrested-for-sexual-assault-mayor-says-this-doesnt-define-all-afghan-refugees-n1557589

    The story couldn’t have been more heartwarming. Matiullah Matie, an Afghan refugee who is a husband and father of eight children, cried out “Salaam! Welcome! Welcome! Welcome!” as he greeted a family of Hmong refugees. Matie had previously been resettled in Wausau, Wis., and had come to make the new arrivals feel at home. He also took the opportunity to talk at length to the media about his experience as a refugee, and became the exclusive focus of a WSAW report a week later. On Wednesday, however, the mediagenic Matie’s star turn came to a sudden and sickening halt: he was arrested for sexual assault.

    Wausau residents did everything they could to make the Matie family feel welcome. WSAW noted that “people have been coming to their home constantly to help them with their immediate needs and to get them connected with community resources.” The Maties reciprocated the kindness: “Each encounter greeted with Afghan hospitality, either some milk tea, food, or both.” Matiullah Matie explained, “A person to coming here should eat and drink something with us.” Marvelous!

  10. Gazing into the maw of a CR8R…

    “The five large cities with the biggest drop in home prices include: Fresno, Calif. (42.4%), Indianapolis, Ind. (33.1%), Denver, Colo. (31.8%), Salt Lake City, Utah (30.6%), Portland, Ore. (28.5%).”

    1. Is that a drop in prices, or is it a percentage of listings that have dropped their price?

      I ask because after taking a looksie I didn’t see any 30% price drop in metro Dumver.

  11. Records show she bought this one for $3.55 million in 2014, so the sale marks a profit of $850,000. Remodeled during her stay, it showcases Midcentury style with clean lines and walls of wood across 1,759 square feet.”

    Most Real Journalists twirled their hair during maff class, but two minor points of correction: 1) Fed-debauched 2022 dollars are worth far less than 2014 dollars; and 2) Remodels, especially when contracted out by Hollywood actresses, cost a sh*t-ton of money. So this $850K “profit” is as illusory as Biden’s “Build Back Better.”

    1. ** ” 2) Remodels, especially when contracted out by Hollywood actresses, cost a sh*t-ton of money.”

      say WHAAAAAAT!?!? ton o’ money?! no no NOOO.
      all the many, many home flipping/improvement/DIY shows say all ya’ have to do is slappa coat o’ monotone paint, some shiplap & black bark over the dead lawn.
      raise price 50%.
      easy peasy.

      and put a bird on it too. cause yer quirky n’ FUN!

      (whooops, almost forgot to advise taking down that old 70’s chandelier, throw it around the driveway until its mangled a bit, replace lights & voila!; reinstall as cutting-edge artsy entryway centerpiece.)

      available for private consult. call BR-549

  13. Another vibrant-on-Asian non-hate crime, this time in Seattle. Any Asian who pulls the D lever is an accessory to these “random” attacks.

    Terrifying moment homeless man cracks woman’s skull with a baseball bat as she walks home in unprovoked attack in Seattle: Suspect, 31, has a 14-year-long rap sheet

    https://www.dailymail.co.uk/news/article-10492101/Moment-homeless-man-attacks-Amazon-deliverer-baseball-bat-leaving-fractured-skull.html

    A homeless man in Seattle was charged with first-degree assault after he was caught on surveillance footage taking a ‘full body swing’ with a baseball bat and hitting a woman in the back of the head, leaving her bleeding with a fractured skull.

    Wantez Tulloss, 31, has been arrested 26 times since 2008, was charged on Friday after Seattle police positively identified him as the man seen attacking the woman in surveillance footage on January 31 just before 6.30pm.

    1. That is one of the most disgusting things I have ever seen in my life. In fact, that is the most vile and cowardly act I have seen on video. That scumbag dirtball deserves a baseball bat to the teeth, then to have his skull crushed. He offers nothing to society. He deserves to die.

    2. A homeless man in Seattle was charged with first-degree assault

      I saw the video. It looked more like “assault with intend to commit murder”.

    1. Does this mean Walmart will have to pull RFK Jrs Fauci book from the shelves? LOL!

      I was shocked when I saw it there. Bye Bye Narrative!

  15. Postcard to my unvaccinated brothers and sisters.

    Hope you are enjoying the pandemic of the unvaccinated and you’re all having a great winter of death

    Looking forward to seeing you in Biden’s Spring of disease and disfigurement.

    PS

    Hope the traffic isn’t too bad where the bodies are pilling up outside your local overwhelmed hospital.

    Biden warns of winter of ‘severe illness and death’ for unvaccinated due to Omicron

    By Allie Malloy and Maegan Vazquez, CNN

    Updated 6:30 PM ET, Thu December 16, 2021

    President Joe Biden on Thursday warned people who are not vaccinated against Covid-19 are looking at a very bleak and dangerous winter if they do not get their shots soon.

    “But it’s here now and it’s spreading and it’s gonna increase. … We are looking at a winter of severe illness and death for the unvaccinated — for themselves, their families and the hospitals they’ll soon overwhelm. But there’s good news: If you’re vaccinated and you have your booster shot, you’re protected from severe illness and death,” the President added.

    Biden also called on individuals to get vaccinated to protect the country’s economic recovery.

    https://www.cnn.com/2021/12/16/politics/joe-biden-warning-winter/index.html

      2. What if I got a J&J? It’s a jab but not an mRNA jab. Do I count as gene therapized? Half-blooded? Half-witted?

  17. I just saw this:

    ‘Vaccine passports gone at midnight in Alberta. La liberté gagne!’

    Saskatchewan has a similar announcement.

    2. The honking will continue until freedom improves.

      Next up: Ontario.

      I hear that Detroit / Windsor bridge is kinda important. Sure would be a shame if it doesn’t reopen anytime soon…

      1. Sorry, I don’t buy it. Please post a real news source that gives the name of the judge and a quote from the actual legal ruling, like all other legal reports. I couldn’t find anything.

        1. a real news source

          The news in Canada is owned by the government. It’s a cute arrangement.

          Reports by “people” suggest the cops returned the diesel as ordered, but playfully mixed it with water. They have such a good sense of humor. It would appear the police would like to see the truckers freeze in their cabs. There are alot of children involved. The Child Protective Service is poking around concerned about the safety of the children. No reports of them kidnapping children yet.

          I pray none will be harmed. Only in Canada could you have a revolution just by parking and saying “g’day”.

        2. Please post a real news source that gives the name of the judge and a quote from the actual legal ruling, like all other legal reports. The Canadian MSM does all it can to make sure such reports (if they exist) never see the light of day. However, several US and Canadian auto plants have either shut down or curtailed productions due to parts shortages brought on by the Canadian trucker demonstrations. Go Brandeau!

  18. Can you say bubble?

    Sure you can, I knew you could.

    Saw this story on the local news last night.

    Priced Out of Paradise: Buyers engage in bidding wars, camp overnight for new homes in Palm Beach County

    Husband arrives 20 hours before lot released, spending night in SUV

    By: Michelle Quesada
    Posted at 12:00 PM, Feb 08, 2022 and last updated 6:34 PM, Feb 08, 2022

    WEST PALM BEACH, Fla. — If at first you don’t succeed, try, try again.

    Brand new homes in South Florida are not immune to the outrageous demand in the housing market. Buyers are finding out it all comes down to what you are willing to sacrifice.

    Minto Communities has a confidential electronic system where those buyers on the waiting list are sent an email to submit a form when lots are released.

    The first buyers to submit the form get a chance to secure the very few lots released. For many buyers, this process can take months before they are first in line.

    Every release date, the lots to build are increasing at different increments. Sometimes those increases are $10,000, $20,000 even up to $40,000.

    “Don’t go by the signs you’re seeing on the road,” said Moody regarding homes no longer selling starting in the $300s.

    “If you keep waiting, prolonging it, it’s only going to go up,” Diaz said.

    While demand is not slowing down, the Diazs are finally in the home stretch.

    “A story that we have to tell behind this home,” Veronica Nieto-Diaz said.

    “It may be our ‘Happy New Year’ present. At the latest, January of next year we should be moving in,” Diaz said. “It’s brand new, from the ground. Yes, American dream.”

    https://www.wptv.com/money/real-estate-news/buyers-engage-in-bidding-wars-camp-overnight-for-new-homes-in-palm-beach-county

  20. “booming Twin Falls housing market”

    When there are bubbles even in little sh!tholes like Twin Falls, that’s all you need to hear to know this bubble has reached biblical proportions.

    1. The bubble encompasses even tinier $hittier $hitholes than Twin Falls. There is a hardly a dilapidated backwater cabin on an EPA superfund site that hasn’t been bolstered by the
      Is galactic bubble.

      1. When you drop over ten trillion dollars onto the economy in less than 2 years time, that’s what you get. There is no historical precedent for this level of extreme money printing. Calling it reckless would be a compliment. It’s criminal.

        1. When you think about it, it’s amazing that inflation isn’t far worse than it is. Of course, what we’re experiencing now might just be the warm up act.

  22. “Iceland’s central bank delivered its biggest interest-rate hike since the 2008 crisis, trying to quell inflation spurred by a rampant housing market.”

    That’s interesting.

    By contrast, it seems like U.S. economic policy makers use some questionable accounting practices to avoid directly reflecting housing price inflation in official consumer price inflation measures. Never mind that after years of increasingly bubbly valuations, housing now constitutes over 33 percent of U.S. consumer spending.

      1. I don’t have the numbers handy, but my vague recollection is that shelter was only around 28 percent of U.S. household expenditures in the pre-bubble era. We’re talking about an 18% increase over longterm trend.

        1. The 28% is the rule-of-thumb upper limit of gross income that people are supposed to safely spend on rent or mortgage. I don’t know if 28% was ever a real historic figure. Also, is that the average over the entire population, or just those with rent or mortgage? There are still a lot of older boomers who own their homes outright. For example, if grandmaw lives on $24K of social security and pays a hefty $4000 in property taxes on her paid-off house, she’s still only spending 17% on housing. So younger folks would have to pay more than 33% to bring the average to 33%.

          Oh, and looking at the chart, what is the 8% for “transportation commodity except motor fuel”? New cars, I guess. 8% is a lot.

          1. The 28% is the rule-of-thumb upper limit of gross income

            Actually, the legacy guideline was 25% of net income for shelter. Who can spend their gross income? That’s just silly.

    1. homeless Seattle man beat woman with bat in random attack

      The price of having great walk scores and nearby ethnic eateries.

      1. I moved less than two miles from the old rental to the new rental in South Denver, and the change in Vibrancy is more than noticeable.

        Proximity to South Broadway, the RTD Downtown to Littleton train line, the Platte River bike / pedestrian trail where the homeless camp out, all attract the negative elements.

        This is all the South Denver suburbs. I can’t imagine voluntarily going up into central or Downtown Denver after dark for any reason, ever again.

        “They’re not sending their best”

  24. Ok, so they milked this fake Pandemic, with fake PCR tests and fake vaccines, useless masks and lockdowns , but the damage they caused in two years is tragic.
    These fraudsters killed and injured A countless amount of people, looted trillions, destroyed many a business, rigged a election, created a new level of crime on the streets , they caused thousands to lose their job, and they are still going after children.

    Do they really think that by blocking out the news and censorship of dispute, that they are going to get away with this? How about all the excess deaths and injury from the vaccine in 2021. What are they just going to cover it up?

    These are extremely dangerous people that need to be stopped and arrested. They have brought on a insanity against global populations that must be addressed , or they will continue with this evil.

    You can’t do something like this , and just walk away without redress on how much of a unacceptable crime it was. Just saying

    1. See also:

      England post-Restoration in the 17th Century.

      Reconstruction in the post Civil War U.S. South.

      The de-Nazification and Nuremburg trials 1945 and after.

      De-Baathification of Iraq (LOLZ@ how that worked out).

      They’re not going to get away with this. I will camp out overnight to win a contest to flip the trapdoor switch that drops some unelected globalist tyrants swinging to their deaths from a noose, and even better if it had a live and broadcast audience.

      Globalists gonna globe. And we gonna HANG YOU 🙂

      Your death will be a lesson for generations…

    2. “These fraudsters killed and injured A countless amount of people, looted trillions, destroyed many a business, rigged a election, created a new level of crime on the streets , they caused thousands to lose their job, and they are still going after children.”

      “Biden is America’s point of no return.” —Thomas Sowell

      1. “Biden is America’s point of no return.” —Thomas Sowell

        If he was legitimately elected, then we are finished, because his corruption, evil and vileness would be a reflection of the American people.

        But he was not legitimately elected.

  25. Streaming some C-SPAN Radio right now, the afternoon program Washington Today that usually starts at 5pm Eastern (3pm here Mountain), and Senator Ted Cruz is bleating about Iran and their nuclear program, and asks his audience to envision a nuke going off in “Tel Aviv, New York, or Los Angeles” in that specific order.

    Where is your primary loyalty, Ted?

    This is the United States, not some pick and choose buffet.

    1. ‘…envision a nuke going off in “Tel Aviv, New York, or Los Angeles”…’

      Talk dirty to us Ted. That exact scenario would provide direct benefits to all Americans, as long as you can minimize nuclear fallout in flyover country. Perhaps neutron bombs?

  28. Today my vaxx loving, Biden voting, former Boston living, now infecting Florida liberal co-worker let her racism slip. Without seeing another co-worker behind her, a black one, she used the term “white trash” in conversation with me. My black co-worker, who is funny as hell and a conservative played shocked and asked “What was that?”

    Oh my God the mental gymnastics the Karen liberal went through begging forgiveness was hysterical! I can’t wait for tomorrow!

  29. “The manner of death was ruled as ‘natural,’” Cahill noted before explaining that myocarditis is what Watts died from, but that it was induced by the shot.

    Autopsy Confirms College Student Died From “COVID-19 Vaccine-Related Myocarditis”

    by Kelen McBreen
    February 9th 2022, 6:07 pm

    24-year-old New York college student George Watts Jr. died on October 27, 2021, due to complications related to the Pfizer Covid-19 shots he took in August and September.

    Thanks to Corning Community College’s mandatory vaccination policy, Watts had to get an experimental Covid jab in order to attend classes in person.

    According to his parents, George Jr. chose to receive the Pfizer “vaccine” because it had been recently given full FDA approval.

    They also said he discovered blood in his urine after the first shot and felt flu-like symptoms that wouldn’t go away after the second jab.

    “I noticed he was starting to get puffy in the face like a sinus issue… He had a cough and I decided to take him to the emergency room to see what was going on,” the boy’s father explained.

    Next, the father took his son to the hospital twice within a couple of weeks to seek help for his illness only to be given antibiotics and told to go home.

    George Jr. eventually began coughing up blood, and experienced pain in his feet, hands, and teeth, even becoming extremely sensitive to sunlight.

    “I told him that I was going to take him to the emergency room the next day after I got out of work,” George Sr. said. “We never made that trip to the emergency room.”

    The student was found collapsed in his room on October 27, 202, and was pronounced dead later on that morning.

    After an autopsy was performed, the Bradford County Coroner’s Office revealed George Jr. died from “COVID-19 vaccine-related myocarditis.”

    The county’s Chief Deputy Coroner Timothy Cahill Jr. said, “The cause of death is the COVID-19 vaccine-related myocarditis. We are currently working on other cases that are related to vaccine and booster-related issues within our county.”

    “The manner of death was ruled as ‘natural,’” Cahill noted before explaining that myocarditis is what Watts died from, but that it was induced by the shot.

    “So, the vaccine caused the heart to go into failure, caused an infection in the heart,” he said. “So, it means that it’s just of a natural cause. But, if it wasn’t for the vaccine, he wouldn’t more than likely be passed away right now.”

    https://www.infowars.com/

    1. A vaccine induced death isn’t “natural”. The death certificate is a fraud by a industry that’s trying to cover up obvious unnatural deaths in young people.

      1. Embalmers are seeing strange sh!t. Head over to Steve Kirsch’s Substack for a February 7 interview.

    1. Ok, so for over a decade Pharmaceuticals were listed as the third and fourth cause of death in US. .

      And nobody thought that was a sign of toxic meds getting approved, or rigged trials. Then A concerted effort to gaslight victim for years on vaccine damage on children given 70 shots.
      Under the Dr Fauci rein of terror for 40 years the medical system was corrupted by the shills for Big Pharmacy. . And the psychopath worm Gates who brags about his 20 to one profit from vaccines. . .. . . .
      .The medical system that was suppose to heal and improve health .

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