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He’s Got No Hope Of Selling, He Couldn’t Give It Away

A report from the Tampa Bay Times in Florida. “Real estate economist Ken H. Johnson said he’s concerned by the rhetoric the real estate industry is pushing about rising home prices. ‘It’s leading individuals to think ‘OK, everything’s rosy. Housing prices only grow to the sky,’ Johnson said. But that’s not true. The faster home prices rise, the riskier it gets, he said. ‘Things are going to get a little rocky.'”

“For Plant City homeowner Sharon Sorensen, buying a house in this market was ‘taking a gamble.’ She and her husband ended up paying $12,000 out of pocket to cover the appraisal difference plus $3,000 for the closing costs on a $315,000 home they bought in east Hillsborough County in December. ‘We’re hoping that this is the type of investment that will give us a return but we also want to put money away for retirement,’ said Sorensen, 57. ‘But this money is coming out of it.'”

From TC Palm in Florida. “Over 60 Zillow-owned homes have been listed for sale on the Treasure Coast since June 1, according to market data. Ten were still available as of Feb. 2. Zillow is selling some homes for significantly under the area’s average sale price. For example, the average single-family sale price in the 34894 ZIP code during the fourth quarter last year was $362,006, according to market data. Half the Zillow-owned properties in the area were up to 32% cheaper – at $260,000, $312,648 and $331,214.”

“‘I think that (Zillow) was purchasing high, and because they ended up being wrong about the way the market was going to pan out, they’re just dumping properties now,’ said Tracey MacLeod, with Premier Realty Group based in Stuart.”

The Spokesman Review in Washington. “Spokane County’s wild housing market slowed in January, providing potential homebuyers with slightly more properties from which to choose and fewer competing offers. The county’s median closed home price was $380,000 in January, a 20.6% increase compared to the $315,000 median in January 2021, according to the Spokane County Association of Realtors. However, the median home price last month declined $10,000 compared with the $390,000 median in December 2021.”

“‘We’ve been slowing down a little bit this last quarter, and I think this is a number we were kind of anticipating,’ said Rob Higgins, executive officer of the Realtors association. ‘The market slowed a little bit, but there is still high demand and the critical thing is low inventory.'”

The International Business Times. “Mortgage demand fell more than 10% during the last week in a sign that prospective buyers are pulling back from the market ahead of an expected interest-rate hike by the Federal Reserve. The Mortgage Bankers Association released its latest data on Wednesday that suggested heightened activity since the start of the year. However, the MBA found it is 12% lower than the same period last year.”

“Joel Kan, MBA’s chief economist, wrote that mortgage rates continued to edge higher with the 30-year, fixed-rate climbing to 3.83%. He added that ‘growing inflationary pressures’ were spurring central banks worldwide to begin turning off the tap on the billions of stimulus dollars they pumped into the economy at the height of the pandemic. ‘Purchase activity slowed after the previous week’s gain. Both conventional and FHA [Federal Housing Authority] purchase applications saw proportional declines,’ said Kan.”

From Socket Site in California. “The number of homes on the market in San Francisco, net of all new sales, both pending and closed, ticked up another 10 percent over the past week to 760, representing 65 percent more homes on the market than at the start of the year with typical seasonality in play (despite some industry misanalysis making the rounds in December).”

“While listed inventory levels are still 19 percent lower than they were at the same time last year, they’re now 50 percent higher than they were prior to the pandemic; nearly 150 percent higher than they were in February of 2015; and the year-over-year gap in listed inventory, which was up to 50 percent this past September and averaged over 30 percent last month, continues to drop with a slowdown in sales activity.”

From Bloomberg. “As we all know, millennials are America’s most economically cursed generation. Now that they’re hitting their 30s and 40s, they’re not even cool  anymore. And the housing market might be about to stick it to them once again. In its foolish haste to analyze, this newsletter suggested this could be a way for millennials to wreak a bit of economic vengeance on the world by helping push home prices even further past the moon.”

“But what if it’s actually just another trap for the broke generation? Americans think this is the worst time ever to buy a house, according to a recent poll. Gary Shilling has many, many charts validating that sentiment Interest rates are rising, and housing affordability is approaching rock-bottom.”

“One silver lining is that home builders are starting to ramp up supply. Oops, it turns out that silver lining is actually a sharpened katana dropping on the neck of anybody buying a house right now, with all this new supply hitting just as soaring costs crush demand. That’s not to mention the rising odds of a Fed-induced recession, which would be the third one of those since the millennium began.”

“Ugh. Once again, our apologies to the millennials. If it helps, please enjoy this photo of a puppy named Beyonce in a coffee mug.”

The Globe and Mail in Canada. “The number of homes in Toronto has increased at a faster pace than the city’s population over the past five years, according to new census data that provide a fresh look at the mismatch between housing supply and demand in the city. The number of private dwellings in the Toronto area rose by 7 per cent, to 2,394,205, between 2016 and 2021. Meanwhile, the area’s population grew by 4.6 per cent, to 6,202,225 residents, according to the census figure.”

“These new numbers call into question the often-cited idea that a shortage of homes is a major reason the city’s housing prices have soared to record highs. The typical home across the country is 41 per cent more expensive than it was in January, 2020. In Toronto, the typical home price rose 52 per cent over the past two years.”

“‘The fact that the number of dwellings has risen strongly, and even faster than the overall population in both the past five and 10 years, suggests that a big supply response is not going to magically solve this issue all by itself,’ said Douglas Porter, chief economist with Bank of Montreal. ‘Policy makers will also need to address the demand side.'”

The Sydney Morning Herald in Australia. “Investors from retirees to single mothers on low incomes fear losing their properties after their strata levies jumped from under $2000 per quarter to more than $10,000 for building repairs they had no say in approving.”

“Hundreds of owners who paid about $200,000 for each apartment in the UniLodge student accommodation building on Broadway have been ordered to pay the levy by strata managing agent Bright and Duggan, which a tribunal appointed to take full control over the owners’ corporation. The building had become run down and repair and maintenance works were necessary for its structural integrity, Bright and Duggan said.”

“One of the owners, Sandeep Khera, whose quarterly levies increased from $1147 in August to $9688 in December last year, said a majority of more than 580 student apartment owners had signed a document, often without reading the fine print, giving UniLodge an irrevocable power of attorney. This had allowed it to vote on behalf of the majority of owners at annual general meetings of the owners’ corporation.”

“Mr Khera said a $2.2 million proposal to repair the clock tower was among building projects he hoped could be delayed ‘as we are bleeding under these exorbitant levies’. Alan Sedghi, 67, said he now has to pay about $40,000 per quarter in levies for four UniLodge apartments he bought for more than $200,000 each to fund his retirement.”

“‘It looked on paper like a good investment and something I wouldn’t have to worry about, but it has turned out to be the complete opposite,’ he said. ‘It’s devastating.'”

“In his 17 years as a real estate agent, Mark Roberts from McGrath, who Mr Sedghi asked to sell the units, said he had never seen strata levies as high. ‘These levy figures are astronomical,’ he said. ‘He’s got no hope of selling it. With those fees he couldn’t give it away.'”

“Varun Marwah, 38, an army reservist who also works as an air quality consultant, paid $240,000 for his apartment 18 months ago as an investment for his eight-year-old twin daughters. ‘I have had so many sleepless nights over this,’ Mr Marwah said. ‘Legally, the levies have a leg to stand on and we cannot challenge them because all the voting rights have been given to Bright and Duggan as the owners’ corporation.'”

“Mr Marwah said it was ‘a lose-lose situation for owners’ some of whom were severely distressed. ‘People feel hopeless, bullied, cornered, extorted and helpless,’ he said.”

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This Post Has 135 Comments

  2. ‘I think that (Zillow) was purchasing high, and because they ended up being wrong about the way the market was going to pan out, they’re just dumping properties now’

    Oh dear…

    1. How could they be wrong? They used algorithms and AI that told them it would be rising prices forever?

        1. One thing I have noticed about Computer Science education, especially in the so called “coder boot camps” is that algorithms aren’t taught much any more. It’s more about how to stitch a program together, how to create a front end that works with a database.

          2. It’s more about how to stitch a program together, how to create a front end that works with a database.

            Basically how to stitch together other peoples’ work, hoping to get the right outcome.

            Saw a lot of that at my last gig. Not much ability to actually create “new” solutions. Just how to assemble.

      2. They used algorithms

        I know we like to mock “algorithms” on this blog, but the truth is they are all around us. Start your car and all kinds of algorithms start up: the ones that control the engine and fuel system, the ABS, traction control, etc. Board an airliner and there is all sorts of automation that helps keep the jet airborne and helps prevent mistakes (though in the case of the 737MAX they dropped the ball). Your TV and DVD players have algorithms galore in them.

        But, just as there are good algorithms, there are also bad ones. The ones used for pricing shacks aren’t among the good ones.

        1. good algorithms

          I worked on plenty of models and controls during my engineering life. Some of them were purely mechanical and totally pre-computer.

          It’s difficult to predict something without understanding the effects of all the independent variables, especially into the future.

          Sorry Yogi.

          1. Interpolation is easy.
            Extrapolation is hard.
            Financial geniuses often do a lot of interpolation of the past, use it to extrapolate the future, and then are surprised when something “unexpected” blows up their predictions.

    4. Billboards still out in Raleigh saying Zillow is buying properties.
      I don’t know if they really are buying properties or if the Billboard was something they bought a while ago and still has a few months left to run on its contract.

  3. ‘a majority of more than 580 student apartment owners had signed a document, often without reading the fine print’

    But Sandeep, that’s what you had to do to be a winnah?

  5. ‘Mortgage demand fell more than 10% during the last week in a sign that prospective buyers are pulling back from the market’

    This is a new nation statistic. But as we’ve read recently, in markets like Austin it’s off multiples of 10%.

      1. The FED has been talking sh!t for years. Meanwhile, they’re still increasing their balance sheet with QE. While I don’t doubt they will be raising rates at their meeting in March, they will remain so woefully behind the curve that it will do nothing to reign in inflation.

        2. Inflation is more important to the average voter than the stock market and probably the housing market as well. If the Dems don’t want to have the most epic beatdown of all time in November, they need to get inflation under control. So I think they’re actually going to do what they’ve said they’ll do, and maybe even more.

          1. November, they need to get inflation under control.
            Dems in congress talking about temporarily removing the Federal Gas tax in an attempt to get gas prices lower. Currently the tax is 18.4 cents per gallon.

          3. Dems in congress talking about temporarily removing the Federal Gas tax

            Oh yeah, that’ll get gas back to $1.80 a gallon.

          4. Inflation is more important to the average voter than the stock market

            At the moment, yes. But when the stock market falls, CEOs get into the mood to rightsize, which causes a new spiral of unemployment which leads to more layoffs.

          5. “unemployment which leads to more layoffs.”

            Dems are experts at giving out free stuff. And it’s clear to anyone with a brain that we are going to have a crash. They either do everything they can to push it off past the midterms (with inflation running double digits and people not being able to afford to eat), or they cause it now and hope that by October things are looking improved (with the entire MSM telling everyone how things are turning around). To me that’s their only hope.

          1. – You’re gonna lay off Samir and Michael?

            – Ah, yeah, we’re gonna bring in some entry-level graduates. Farm some work out to Singapore. That’s the usual deal.

            – It’s standard operating procedure.

            – Do they know this yet?

            – No. No, of course not.

            – We find it’s always better to fire people on a Friday. Studies have statistically shown that there’s less chance of an incident if you do it at the end of the week.

  6. https://www.cnbc.com/2022/02/09/homebuyer-demand-for-mortgages-drops-10percent.html

    ‘applications to refinance a home loan fell 7% for the week and were 52% lower than the same week one year ago. The refinance share of mortgage activity decreased to 56.2% of total applications from 57.3% the previous week. There is a shrinking population of borrowers who can benefit from a refinance now, about half as many as there were one year ago’

    Gosh, I hope those loan officers save some of that filthy lucre from the big boom!

    1. They aren’t saving any lucre from what I can see. There’s a whole community that’s desperate for my (or anyone else’s) house. They want to buy it from me, sell it for me, fix it up, or refinance it. They’re calling and mailing, and I just got a text which is unusual. I must be on some goodie list.

    2. Gosh, I hope those loan officers save some of that filthy lucre from the big boom!

      Some of it got spent on cars, motorcycles, vacations, boats and boob jobs. The rest was squandered.

      1. Some of it got spent on cars, motorcycles, vacations, boats and boob jobs. The rest was squandered.
        Based on a lot of Loan officers I knew, probably a lot of truth in you statement.

    3. “Gosh, I hope those loan officers save some of that filthy lucre from the big boom!”

      It’s all in doggy coin and Lambos, safe as can be!

  8. ‘One silver lining is that home builders are starting to ramp up supply. Oops, it turns out that silver lining is actually a sharpened katana dropping on the neck of anybody buying a house right now, with all this new supply hitting just as soaring costs crush demand. That’s not to mention the rising odds of a Fed-induced recession’

    A 45 year high in shack and airbox construction in the US.

    ‘he’s concerned by the rhetoric the real estate industry is pushing about rising home prices. ‘It’s leading individuals to think ‘OK, everything’s rosy. Housing prices only grow to the sky’

  9. Headline from today’s news:

    “Annual American inflation hit 7.5%: A near 40-year high”

    Welcome to the Weimar Republic 2.0

    Anybody got any wheel barrels to sell to carry your cash in?

    1. Anybody got any wheel barrels to sell to carry your cash in?

      That would imply getting cost of living raises.

      1. Anybody got any wheel barrels to sell to carry your cash in? Can’t afford one. Even 30-gal black plastic trash bags are pretty pricey.

  11. Groundhog Day Feb 2, 2022

    Punxsutawney Phil sees his shadow, meaning we’re in for 6 more weeks of severe illness and death.

    “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.”

    Joe Biden

    1. You’d think that they would be glad to be rid of us.

      But contrary to the predictions, the hospitals never had to turn people away and there was no need for any “bring out yer dead carts”. And now, the number of daily infections is rapidly declining.

      Anyway, I’ll be going to see “Death on the Nile” this weekend, maskless. It will be interesting to compare Branagh’s Poirot with the the one portrayed by David Suchet.

      1. The Prince of Wales just turned COVID+ – again, despite being triple vaxxed and having survived a bout with COVID March 2020. Queen had been with him in the days before this, no word on how she is testing.

        1. I really doubt he took the kill shots. And I’m sure they are pumping her (and him too) full of monoclonal antibodies, even if the US gooberment says they don’t help with Omicron.

    2. Things are looking pretty grim for the 10Y also.

      Can mortgage rates be far behind?

      Have noticed a uptick in listings in my hood (SoCal, Orange County).
      (Lots of feet get very cold right now, I suspect)

      Things are not looking good in Gotham city.

    3. The ever-steepening dive looks pretty scary, for sure. It brings to mind the appearance appearance of the subprime ABX index fugure we saw in The Economist in December 2006, just before the entire subprime mortgage lending sector went up in smoke. Not to suggest that the bond market faces a similar outcome!

      However, notice that the actual numbers depicted in the figure have barely moved…110.50 down to 107.71 last time I looked (-2.5%). ‘Tis a mere flesh wound…

        2. ‘May be hard to access without a subscription’

          Trick is to hit the reload link on the web browser and then stop the reload process in its tracks by clicking on the X stop. For many paywall sites, that seems to be a work around to having teh articles blocked. Some sites have figured out how to prevent that hack.

  13. Here is a fitting quote …

    “If you’re not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing.” – Malcolm X

    1. I thought that was Joe Biden’s prediction for this summer.

      We are looking at a summer of foreclosure, bankruptcy, divorce, and suicide for the unvaccinated.

    2. Foreclosures, BK’s and divorces? Sure as the Broncos won’t be winning the Souperbowl anytime soon. Suicide? They’ll just wait for and ride the next bubble. And they’ll even get the next wifey a boob job with the sweet equity.

  16. This is a urine soaked mattress article.

    The Guardian — Blue states are rolling back mask rules – but experts warn it’s too soon (2/10/2022):

    “The lifting of mandates is coming at a time when the CDC says a vast majority of the country is still seeing high Covid transmission.”

    https://www.theguardian.com/world/2022/feb/09/us-mask-mandates-covid-omicron-democrats-cdc

    Dumver is still seeing a high level of Mass Formation Psychosis.

    Time to take a page from Mad Maxine Waters and start confronting these freaks, get in their faces.

    Shove that mask up your arse!

    1. “Shove that mask up your arse!”

      No… wipe with it and hand it to them. There you go. Wear your mask.

    1. Why is it again that people pay millions for houses right in the fire hazard zone? Even more ironic, the CO town of Louisville had just passed an extremely expensive and restrictive new environmentally woke “green” building code before the Marshall fire destroyed 500 homes in its area. There are only estimates of how much this innovation adds to the cost and difficulty of rebuilding for the wildfire victims.
      From a recent local NPR news item:
      “Each fire victim must now figure out whether their insurance plan, if they have one, will cover the costs of rebuilding. Due to the fine print of each policy and high pandemic building costs, many residents have reported they don’t have enough coverage to pay the full cost of a new home.
      ….

      An estimate prepared for the city [of Louisville] later found the regulations could add at least $20,000 to the price of rebuilding an average home lost to fire. If the new standard adds a burden, Loo said city leaders should let fire victims rebuild under the earlier version.

      “This is politics on the back of people who have lost everything,” she said. “I just can’t understand that.”

        1. I was working up there last week, and looks like a war zone. I’m sure of that. Starting in the fall of 2019 a relative had to basically replace his Boston area home after a smoldering cigarette butt set his porch on fire and then the rest of the house. His insurance was nowhere near adequate and he had to spend >$50,000 over/above his insurance to restore the home. He said if he had to do it over, he wouldn’t. He works in the building trades, but not in fire restoration/rebuilds. He would have just sold the burnt out hulk, taken the insurance proceeds and bought a used house. Two years of his life went into the rebuild in addition to the $. I will be talking to my insurance agent to verify I can follow his recommended path should I lose my home the way he lost his. I’m too old for this nonsense.

        2. looks like a war zone

          What does McCaslin look like? I used to go there with coworkers for lunch, before the great RIF of 2017.

          1. Intact buildings next to ones that burned completely to the ground. I’m not that familiar with the area.

            The primary tenant of the building we were working in is a lab, and the entite building is bigger than a CostCo. Our crew of sparkies was raising lights up from the ceiling grid so the lights could be salvaged after the grid is replaced.

    2. Why is it again that people pay millions for houses right in the fire hazard zone?

      A former HP colleague lost his shack to fire, I forget where, somewhere in the Rancho Bernardo area, many years ago. Everything went up in smoke. I don’t remember if they rebuilt or just bought another shack. Anyway, he inherited a boat load of cash from his dad, who was once a bigwig at IBM, so money wasn’t an issue. But he did lose stuff that was irreplaceable.

    1. It’s limit up, every single day. That’s what happens when you hand trillions of dollars to speculators – they have to put that money somewhere, so they’re gambling in the necessities of life.

      1. gambling in the necessities of life. I think that will be reflecting in a very obvious decline of living standards for decades in the Marshall fire area of Colorado. My local school district is planning a rebuild of the high school and middle school. The taxes went up, but the plans haven’t finalized. Now they are facing a huge spike in expected costs but have a fixed budget that won’t match. Meetings are being held…

        1. The taxes went up

          You mean voters approved the increase? The last time voters in my little burg fell for that was about 10 years ago. I remember the voter’s guide analysis said that the average tax bill would rise about $150. Turns out it was more like $400-500. A lot of people were pretty miffed about that and since then every prop 2A and 2B for our school district has gone down in flames.

          The city even had the gall a few years ago to propose a big sales tax increase to pay for a second rec center, second library, tearing down a perfectly good fire station and replacing it with a new one, etc. IIRC, they wanted to spend about $600M. It went down in flames.

    2. The median income isn’t supposed to afford the median house. There are always at least 1/3 renters. So it’s actually the median of the top 2/3 incomes that is supposed to by the median house.

      1. the median of the top 2/3 incomes

        That’s not logical. The people who choose not to overpay for a house and commit the most productive years of their lives to money losing debt servitude drudgery are not the bottom 1/3 stupids. They are the most intelligent element of society and are likely top earners.

        1. She resents our freedom.

          I didn’t like the way the neighborhood was changing at my last rental, so I asked the property management company to break my lease and move less than two miles to a new rental in another building they own.

          Meanwhile, her neighborhood, FROM HER OWN DESCRIPTION, ON THIS BLOG, is a Salvadoran ghetto. Cars on the lawn, 20+ people living in one house, yeah, but at least she’s not “throwing money away on rent” LMFAO@ these debt donkey Karens.

    1. [CO – Superior] Municipal code may be preventing rebuilds [or recovery] after Marshall Fire

      As people impacted by the Marshall Fire work to rebuild, some homeowners are trying to figure out if they can live on their own property.

      The Problem Solvers found that the Town of Superior municipal code might be getting in the way of some rebuilding efforts.

      About 15 people met with a town planner on Monday, all of them concerned about whether they can live in a modular home or even an RV on their own fire-damaged property.

      “My parents lost their home in Old Town,” Gibson Hupfer said. “…they want to go home.”
      Advocating for her parents, she wanted to know their options.
      “They’ve only ever lived here.” Gibson Hupfer said. “…they feel like maybe their time is limited.”
      Their best options is to bug out of town ASAP and set up a new living arrangement. The time it takes to recover from a total house burnout is known (but only by the cognoscenti) to be far longer than anyone likes. These unfortunate elders can take the easy path or the hard one.

      1. Their best options is to bug out of town ASAP and set up a new living arrangement.

        And even that won’t be easy. Most oldsters have a local support network of friends and family that they would lose should they move away.

        Having nothing to pack and move helps, provided they got an insurance payout. Given that many oldsters are borderline hoarders, losing everything could be a blessing in disguise.

        1. Article on KDVR just after the fire about a family staying at a hotel in Westchester that had their SUV stolen, with all their family photos and non valuable personal items in it.

          They told the media that they don’t care about the SUV they just want their irreplaceable things back.

          Yet another example of vote like California, become California.

          “They’re not sending their best”

        2. Unfortunately, hoarders are also unorganized. Often mixed in the with the dirty junk are important papers like mortgage deeds or car titles or medical records. Hoarders are constantly losing their checkbook and car keys. The first thing any prepper should do is find and sort out his important papers and put them into an ziplock bag or safe, something easy to grab on the way out the door.

    2. In the Boulder County sponsored clearance is anything but a screwup, I will be surprised.

      My first question is: how will the county pay for the cleanup? I suspect that there are federal funds for that, which will be wasted and mismanaged.

      I don’t expect any of those houses to be rebuilt any time soon.

  21. 2.2 million to repair the clock tower give me 20 pounds of C4 and dump truck and I’ll save 2.1 million. Crap like that is why I haven’t purchased a beach condo.

    1. 2.2 million to repair the clock tower I have a fair number of friends, family and casual acquaintances who have done total renovations on delapidated structures. When I get their well-educated opinions on whether the restorations were worth the outcomes, none thought it was. It’s mostly the ignorant who think repairing old structures is worth the cost and aggravation, IMNSHO.

      1. There are some stunning historic homes, pre-~1940, that are worth saving. But then, I’m just watching the shows about the restorations, not arranging or paying for them. But I think I would rather endure restoring a historic home than build another McMansion.

    2. Not one of the five people with crossed arms in the photo looks like a heritage Aussie to me. Foreign speculators who got burned, and who no doubt want a bail out.

      1. She’s one of the WEF’s Young Global Leaders.

        No doubt hoping to someday be important enough to get invited to attend the big pow wow in Davos.

    5. CNN’s Covid “Expert”

      I knew who it was before clicking on the link. Leana Wen, former President of Planned Parenthood.

  23. This is a pearl clutching article.

    Inside Patriot Front: The Masked White Supremacists On A Nationwide Hate Crime Spree (2/10/2022):

    “A new HuffPost investigation exposes the inner workings of the secretive American fascist group destroying Black Lives Matter symbols across the country.”

    https://www.huffpost.com/entry/patriot-front-white-supremacist-group-hate-crime-vandalism_n_620293abe4b0725faad01783

    Their real name should be “Federal Front” because in any alleged group like this, actual Nazis are outnumbered by Feds 10 to 1.

    “They’re not sending their best”

    1. “A new HuffPost investigation exposes the inner workings of the secretive American fascist group destroying Black Lives Matter symbols across the country.”

      Ya gotta admire their gall. While BLM has actually burned, looted and murdered, it is imaginary white supremacists who are the real threat.

  24. Not Normal! Two High School Basketball Players Collapse Mid-Game And Die On Same Day

    by Kelen McBreen
    February 10th 2022, 12:56 pm

    A pair of teenagers from different states both collapsed and died during their high school basketball games on Tuesday.

    Texas sophomore Devonte Mumphrey and Illinois Senior Cameran Wheatley tragically passed away while doing what they loved.

    Mumphrey, who attended Alto High School, was named All-District 22-2A Newcomer of the Year in 2021.

    “You couldn’t have met a better kid,” Mumphrey’s cousin Jessica told the Tyler Morning Telegraph. “He had respect. I never saw him with an attitude.”

    The same night Mumphrey collapsed, nearly one thousand miles away, Bremen High School’s Cameran Wheatley also fell onto the court and was later pronounced dead.

    ABC 7 reported that Wheatley’s father confirmed his son had a clean bill of health and had played several sports for almost 10 years.

    FOREVER #13: East Texas high school basketball player dies during game

    Feb 9, 2022

    https://youtu.be/l7rnGGGIU38

    Suburban high school basketball player dies after collapsing during game

    Feb 9, 2022

    https://youtu.be/aCqI7C-DrSc

      1. Re-post of a Lockdown Lovers image file — Poison Your Children Edition:

        https://ibb.co/GnwRtjG

        The parents probably have a “We Believe” virtue signal sign in their front yard.

        Your sons are now dead. Thank you for participating in The Science™.

  25. Parasitism & dependency – the supreme Democratic Party virtues – must be enabled and encouraged by taxpayers in all blue-malgoverned states & cities.

    ‘I get PAID to be homeless in San Francisco – it takes one phone call’: ‘Old-school junkie’ says he moved to woke city because he gets $620-a-month that pays for his Amazon Prime and Netflix and ‘cops are like neighbors’

    https://www.dailymail.co.uk/news/article-10498607/San-Francisco-homeless-man-says-gets-paid-620-month.html

    1. No new water projects for old time farmers in CA now WOKE Newsom is farming a new cash crop, homeless in CA. The more money spent on the problem the more show up . This will not end well.

  26. The Comrades of Proven Worth (D) in our NEA indoctrination mills don’t lack for creativity when it comes to implementing their globalist masters’ agenda of sexualizing children.

    ‘My son didn’t even know what oral was!’ Parents slam Connecticut school district for asking eighth-graders to share their sexual desires in the form of pizza toppings in bizarre assignment

    https://www.dailymail.co.uk/news/article-10498883/Connecticut-school-district-asks-eighth-graders-share-sexual-desires-assignment.html

    A school district in Enfield, Connecticut was left with pie on its face after asking eighth-graders to share their sexual desires in the form of pizza toppings.

    ‘Now that you know this metaphor for sex, let’s explore your preferences!’ explained the instruction pamphlet distributed to students in a recent health class at John F. Kennedy Middle School.

    ‘Draw and color your favorite type of pizza,’ it added. ‘What’s your favorite style of pizza? Your favorite toppings? What are your pizza no-nos? Now mirror these preferences in relation to sex!’

  27. Let’s Go Brandon!

    Biden calls inflation skyrocketing to a 40-YEAR high ‘elevated’ and AGAIN insists it’s temporary: President tries to spin prices soaring by 7.5% in the highest spike since 1982 with Americans having to pay an extra $250 a MONTH

    https://www.dailymail.co.uk/news/article-10498525/Inflation-skyrockets-40-YEAR-high-Prices-soar-7-5-highest-spike-1982.html

    The U.S. inflation rate hit a 40-year high in January, with prices rising 7.5 percent from last year, the Labor Department announced on Thursday.

    It’s the highest spike in consumer goods prices since February 1982, and a certain blow to President Joe Biden’s standing with American voters less than a year before the crucial midterm elections.

    Even members of his own party are distancing themselves from the economic disaster, with West Virginia Senator Joe Manchin taking a veiled swipe at the White House for seeming to ‘think that spending trillions more of taxpayers’ money will cure our problems.’

    1. The U.S. inflation rate hit a 40-year high in January, with prices rising 7.5 percent from last year, the Labor Department announced on Thursday.”

      Free money = Inflation = Economics is hard . AOC says its greedy corporations. I think that’s what Venezuela said also ?

  28. 1970 1hour median wage bought 0.90oz of silver.
    2021 1 hour median wage buys 1.30 oz of silver.

    That’s some investment!🤣👏

      1. There must be a huge moral hazard temptation for them to put rate hikes on hold, and watch stonks and cryptocurrencies soar to the moon. It wouldn’t be the Fed’s first replay of Lucy pulling away the football just as Charlie Brown was about to kick it.

    2. “A 40-year-high print for US CPI and bombshell comments from St.Louis Fed’s Jim Bullard stole the jam out of most investors donuts today…”

      Kind of gross, though also hilarious…

  31. “Real estate economist Ken H. Johnson said he’s concerned by the rhetoric the real estate industry is pushing about rising home prices. ‘It’s leading individuals to think ‘OK, everything’s rosy. Housing prices only grow to the sky,’ Johnson said.”

    Used home sellers ALWAYS say this. And evidently the vast majority of housing market participants believe their lies.

    “But that’s not true.”

    Oh.

  34. Let this be a lesson to all you double vaxed and boosted Mudbloods out there.

    If you bump your head, don’t go to sleep.

    Alex Stein #99
    @alexstein99

    Bob Saget joking about his booster shot less than a month ago on December 13th 2021….probably just a coincidence

    https://twitter.com/alexstein99/status/1480348468162048006?s=20&t=5FQT4qWfG33jYKlqiRi95Q

    Bob Saget died from head trauma, family says

    Lisa France byline
    By Lisa Respers France, CNN
    Updated 8:12 AM ET, Thu February 10, 2022

    “The authorities have determined that Bob passed from head trauma. They have concluded that he accidentally hit the back of his head on something, thought nothing of it and went to sleep,” the statement said. “No drugs or alcohol were involved.”

    Speculation had swirled around the state of his health as Saget had said he had Covid-19 in December.

    https://www.cnn.com/2022/02/09/entertainment/bob-saget-cause-of-death/index.html

    1. Bob Saget died from head trauma, family says

      Funny, how it took this long for this “explanation” to be divulged. I am amazed that anyone believes anything the media says. I just assume that whatever they report is a lie or a distortion.

      1. “I just assume that whatever they report is a lie or a distortion.”

        Yup, heard this story this morning on the network feed to the local news and then again tonight on the ABC Evening News.

        I would be surprised if in a year a forensic accounting of the people in charge of the autopsy and the family didn’t turn up a large chunk of change that could be traced back to Pfizer.

  35. From CBS Denver:

    Mayor Michael Hancock’s Message To Everyone: Don’t Abandon Downtown Denver

    Sorry, your honor. Under your watch, it turned into a sh!thole. Fix the problems and maybe I’ll come back.

  36. this is what is so crazy – where did all of these buyers get the money – a sizable (17%) amount of sales were cash. Even then, how did CMHC (central govt authority for backing mortgages) allow appraisals to get this high. But we have been saying this since the financial crisis.

    The typical home across the country is 41 per cent more expensive than it was in January, 2020. In Toronto, the typical home price rose 52 per cent over the past two years.”

  38. God bless those Canadian truckers.

    They stood up to the ruling elite and the MSM that does their bidding calling them insurrectionists, racists and Nazis. They stood up to the thug police who were carrying out the wishes of the globalist dictator Justin Trudeau by stealing their fuel cans and the firewood they needed to keep from freezing at night. They survived GoFundMe blocking $10 million in donations and now…

    CARRIE TAIT AND KELLY CRYDERMAN
    CALGARY
    PUBLISHED FEBRUARY 8, 2022
    UPDATED YESTERDAY

    Alberta and Saskatchewan on Tuesday announced plans to end their vaccination passport systems and mask mandates, making them the first provinces to reveal when they would scrap those two coronavirus public-health measures that are spurring protests across the country.

    https://www.theglobeandmail.com/canada/article-saskatchewan-premier-scott-moe-brings-provinces-vaccine-passport-mask/

    Once again…

    God bless those Canadian truckers

    COVID-19 truck blockade in Canada shuts down Ford plant

    By ROB GILLIES and TOM KRISHER
    yesterday

    TORONTO (AP) — A blockade of the bridge between Canada and Detroit by protesters demanding an end to Canada’s COVID-19 restrictions forced the shutdown Wednesday of a Ford plant and began to have broader implications for the North American auto industry.

    https://apnews.com/6f60c879c0c2eff82235e3157ad79bb0

    1. The Financial Times
      US Inflation
      ‘Inflation is up, it matters’: high prices plague Biden’s presidency
      White House efforts to moderate cost of energy and goods have had little noticeable effect
      Joe Biden’s approval rating regarding his handling of the economy has plummeted as prices soar
      © Bloomberg
      James Politi in Washington
      3 hours ago

      At a community college in central Virginia on Thursday, Joe Biden put his finger on the biggest domestic problem of his presidency. “Inflation is up. It’s up,” the US president said. “And coming from a family when if the price of gas went up, you felt it . . . it matters.”

      Biden was speaking just a few hours after data showed the US consumer price index rose by 7.5 per cent last month compared to January 2021, exceeding economists’ expectations and marking the largest annual jump since 1982.

      High inflation has blemished what would otherwise be a strong economic record for Biden, with elevated job and wage growth. It has depressed his approval ratings and contributed to the demise of a $1.75tn flagship spending bill that some lawmakers feared would exacerbate higher prices.
      …

    2. The Financial Times
      US Inflation
      US inflation surges to 7.5% in fastest annual rise for 40 years
      Higher than expected jump in CPI in January puts pressure on Fed to move more aggressively on interest rates
      A worker delivers goods to a grocery store in Fairfax, Virginia. US citizens are paying a higher prices for a wide range of goods, including food, electricity and shelter
      © Olivier Douliery/AFP/Getty
      James Politi in Washington and Kate Duguid in New York yesterday

      The US consumer price index rose 7.5 per cent last month compared with January last year, its fastest annual pace since 1982, heaping pressure on the Federal Reserve to act more aggressively to tame inflation.

      Data released on Thursday by the Bureau of Labor Statistics showed CPI surpassing economists’ expectations by surging above its previous 40-year high of 7 per cent on an annual basis recorded in December.

      On a monthly basis, CPI rose by 0.6 per cent from the previous month, a steeper increase than predicted by economists, as Americans paid higher prices for a wide range of goods, including food, electricity and shelter.

      US Treasury yields jumped after the report as traders bet on higher interest rates. Yields rise when bond prices fall. The persistence of high inflation has already prompted the Fed to speed up its timetable for tightening monetary policy, with the first interest rate increase since the onset of the pandemic expected to be approved next month.

      Some economists said the Fed may have to take a more forceful approach to cool down the economy this year, with larger and more frequent interest rate increases rather than doing so gradually.

      “The labour market is hot and inflation is even hotter, which places the Federal Reserve in an awkward position with an interest rate hike over a month away. As the inflation fire burns even hotter, the Federal Reserve will have to bring an even bigger fire hose to put it out,” said Chris Rupkey, chief economist at FwdBonds LLC.

      James Bullard, president of the Saint Louis Fed and a voting member of the Federal Open Market Committee, said that he would like to see 100 basis points worth of interest rate increases by July 1 — and that the FOMC should even consider meeting on an unscheduled basis before March to start the tightening cycle.

      “I was already more hawkish but I have pulled up dramatically what I think the committee should do,” Bullard told Bloomberg on Thursday.
      …

    3. “Did Jimmy Carter somehow find his way back into the White House?”

      I don’t remember Jimmy Carter hiring anyone like this.

      Biden’s New DoE Hire is a Queer Activist Who Brags About ‘Puppy Play’ Gimp Kink

      by Paul Joseph Watson
      February 11th 2022, 6:13 am

      The Biden administration’s latest Department of Energy hire is a “queer activist” who brags about his “kink” of leading other gay men who are pretending to be dogs around on leashes before having sex with them.

      We truly live in hell.

      Sam Brinton was recently hired by the DoE as the Spent Fuel and Waste Disposition Deputy.

      A Metro Weekly article contains some illuminating details about Brinton’s lifestyle as a handler in the “pup community.” And yes, it’s every bit as degenerate as you might think.

      JON MILLER
      @MillerStream

      This is the Biden’s new Dept of Energy hire: gender fluid with a background in having sex with animals, “kink,” and drag. Even in Weimar, this kind of perverted degeneracy was kept underground. One can only think what the eventual counterreaction will be.

      https://twitter.com/MillerStream/status/1491857912502767621?s=20&t=t1nc7kOUdLqDlTrQDEI5Yw

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