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Buyers Have Poured Their Saving And Earnings Into Their Homes, They Are Betting They Will Recover Both

A weekend topic starting with the Idaho Press. “The typical price for Idaho starter homes has increased almost 80% since 2019, from around $171,000 to $306,000 as of January 2022. The problem: Homes are where jobs sleep at night, as the Federal Reserve puts it. And without affordable starter homes, young professionals find it harder to settle down and have a family. This could lead to professionals leaving this market, which could impact the Treasure Valley’s economy.”

“When housing prices increase, standards of living decrease for a significant portion of the population, said Steven Peterson, University of Idaho clinical associate professor of economics. ‘The housing costs are crowding out other kinds of spending,’ Peterson said. ‘Rising housing prices hurt other businesses, downstream businesses … it’s hurting restaurants, drinking establishments, other kinds of services.’ Entry level price points are now $450,000 to $500,000, said Brett Hughes, owner of Boise Premier Real Estate. A buyer can afford a $150,000 home on one income, Hughes said. The level of appreciation, almost 30% last year, is something ‘you don’t want.'”

From Better Dwelling. “American real estate just spent another quarter in bubble territory, according to its central bank. The US Federal Reserve Exuberance Index shows US real estate was still exuberant in Q3 2021. A quarter before, the market fit the criteria set out by researchers to be considered a bubble. It also happened to be the quarter branch presidents warned a housing bubble is a concern. The Q3 2021 update shows US home buyers were still exuberant, logging a sixth quarter. People have been saying some markets are suffering from frothy activity for years. However, this is a national index. It’s the first time since the Great Recession that the entire US real estate market is now in a bubble.”

“It’s also the first time the Fed had a quantitative model warning them of a bubble in real time. It also happens to be the first time they’re ignoring their real estate bubble model. Take it in for a moment. This is what it feels like when memories are made.”

From Seattle PI in Washington. “Mortgage prices for the typical U.S. home have soared to an all-time high, surpassing a previous record set in the summer of 2006, according to Zillow. Seattle homeowners are not immune. The report said that monthly mortgage payments in the city have risen 35% since January of last year. That increase has resulted in homeowners paying an average of $675 more per month, bringing the average monthly mortgage payment in Seattle to a whopping $2,615.”

“The report said that 31% increase in the buyer’s monthly payment, wrought by rising home costs and higher mortgage rates, is the highest increase on record.”

The Mountain Democrat in California. “‘My husband and I purchased a home in June of last year. Because we lost two previous homes where we had made offers, we bid $20,000 over the listed price. We love our home but feel we paid too much. I have two questions. Is the market slowing down? Do we need to be concerned?'”

“The answer to your first questions is definitely yes but it’s slowing down from warp speed. Bankrate conducted a homeowner’s survey last year and discovered that 64% of millennials regretted buying their home and 82% had at least one significant regret about their home purchase. There is a sense of economic security among long-time homeowners. They have a large amount of equity, a low or no mortgage and the maturity of experience. They correctly believe they will do well when they sell.”

“First time buyers have poured their saving and a substantial portion of their monthly earnings into their homes. They are betting they will recover both in the future. That’s likely but with little equity and a large mortgage they are more sensitive to government policies that may affect future values. Mortgage rates are an example.”

“Low mortgage rates have been an enabler of higher home prices allowing buyers to take on larger mortgages. Inflation, ignited by excessive government spending and restrictive energy policies, has created an inflationary spiral that began last summer. The Federal Reserve has finally admitted that they were slow to respond and announced they will increase interest rates. Higher interest rates will lower the pool of buyers who can qualify for a mortgage. In response to fewer buyers, sellers may need to lower their asking prices.”

The Globe and Mail. “Next Wednesday will likely bring about the biggest test for floating-rate borrowers in years. On March 2, the Bank of Canada is expected to lift its key lending rate to restrain the most serious inflation threat Canada has seen in decades. The market expects next week’s hike to be the first of roughly two-plus percentage points of rate increases through 2023.”

“That’s enough to give variable mortgagors the jitters. And no less than 54 per cent of borrowers have been choosing record-low variable rates, according to Statistics Canada. So it’s natural to wonder whether those without fixed rates can handle a two-point rate increase. The answer is generally yes. Most mortgagors have ample home equity or financial resources to fall back on and the overwhelming majority are stress tested – that is, they must prove they can afford at least a 200-bps rate increase.”

“But not everyone is so comfortable. More than one in five are highly leveraged, according to Bank of Canada data. And while the government’s stress test makes you prove you can afford your mortgage payment, property taxes, heat, condo fees and major credit payments, here’s what it doesn’t factor in: groceries, child care, commuting/gasoline, utilities, home maintenance/repairs, internet, cellphones, TV (streaming/cable), vacations, dining/entertainment, education, home, car and life insurance, and so on.”

“In other words, the mortgage stress test doesn’t assess your ‘real-life’ budget. Prior to these 31-year highs in inflation, most Canadians were already living beyond their means  – more than half being just $200 away from not covering their monthly expenses. A 150-plus-bps rate increase wouldn’t help. It would boost payments by more than $400 a month for someone mortgaging the average Canadian home with 20 per cent down and a 25-year amortization. That would challenge up to 61 per cent of those renewing their mortgage in the next year. That’s how many worry they’ll be in ‘financial trouble,’according to a recent poll, if interest rates ‘go up much more.'”

From News.com.au in Australia. “The price gap between houses and units has never been greater, and as a result, many buyers on tight budgets are setting their sights on apartments. However, with oversupply in some markets, stories of dodgy building practices and a post-pandemic obsession with space – purchasers need to be selective. Veronica Morgan, buyer’s agent, said unit buyers shouldn’t just concentrate on the purchase price.”

“‘There’s so much focus on just the acquisition, it’s a bit like the old fashioned rom coms where they only focus on the characters getting married. But what about the happily ever after?’ She offered her two principles for smart apartment buying. ‘Firstly, if it’s easy to buy it’s going to be hard to sell. If you’re struggling in this tough market, it’s to be understood, but don’t let the simple answer be to just buy something because it’s easy. The problem is, you could get stuck with it.'”

“‘While it feels logical to start with a unit, where the danger comes in is if you buy a property you’ll either outgrow too quickly, or isn’t going to grow in value.’ Ms Morgan said while small is tempting for budget-conscious buyers, ‘Well-designed units in boutique buildings in locations without lots of units, they can be fine. But the problem in some areas is the sheer volume of stock particularly targeted towards first-time buyers, and investors. These solve the affordability problem but there’s no scarcity of stock.'”

From One Roof. “House prices are falling. After 18 months of rapid growth that saw New Zealand’s average property value rise from just below $800,000 to just over $1.1 million, the market has suddenly shifted down a gear – a new experience for homeowners who may have become accustomed to ever-rising prices. James Wilson, head of valuations at OneRoof’s data partner, Valocity, says ‘You can’t afford to make mistakes in a softening market. In a good market, if you make a slight mistake, then the market will usually protect you. Whereas in a softer market a mistake might impact the price you get.'”

This Post Has 70 Comments
  1. ‘First time buyers have poured their saving and a substantial portion of their monthly earnings into their homes. They are betting they will recover both in the future’

    There’s lots of angles and ways to describe a mania. This is a easy one: you borrowed a sh$tload of money for a crappy shack in California. But you’ll get it all back and fund a retirement to boot for doing nothing!

    Hurray! Except the next sucker has to pay for all that, with interest. See how illogical that is? Much less to think this can go on forever.

  2. Wall Street Journal — Russia’s Assault on Ukraine Presses Forward as Street Battles Rage in Kyiv (2/26/2022, 5:07am EST):

    “Street battles raged through the night in the Ukrainian capital as Russian forces and undercover units in civilian clothes tried to enter the city, while Russian airstrikes and several airborne landings continued throughout the country.

    On Saturday, the third day of the war that Russian President Vladimir Putin unleashed with the aim of overthrowing Ukraine’s elected government and ending its alignment with the West, Ukrainian forces fought fierce battles on all fronts, with each side asserting it had inflicted heavy losses on the other.”

    https://archive.fo/YzeXg

    1. Revolver — The Truth About the Ukraine (2/24/2022):

      “Way back in 2016, President Obama said something that was surprisingly cogent and astute in an interview in The Atlantic. While speaking with Jeffrey Goldberg, of all people, Obama articulated that the American people are simply not willing to go to war in Ukraine. To put it simply, the Ukraine is simply not a core American interest that is worth killing and dying over.

      Like all of America’s wars over the past three decades, a war on behalf of Ukraine would not be of any benefit to America or the American people. It would only benefit the privileged few oligarchs who control the levers of power in the Globalist American Empire, and their bought and paid for stooges in media, academia, and politics.”

      Put your kids and grandkids on a plane to Ukraine NOW. BOOTS ON THE GROUND.

      “the calls for escalation, and even war, that are emanating from the Democrat military-industrial-diplomatic-NGO-neocon complex”

      https://www.revolver.news/2022/02/obama-was-right-no-gae-war-with-russia/

        1. What Color is Ukraine’s ‘Color Revolution’?

          Washington whitewashes Ukraine’s brownshirts

          by Justin Raimondo Posted on March 12, 2014

          ‘As the real nature of Ukraine’s “democratic” and allegedly “pro-Western” opposition becomes all too apparent, the pushback from the regime-change crowd borders on the comic. The War Party is stumbling all over itself in a frantic effort to cover up and deny the frightening provenance of the neo-fascist gang they’ve helped to seize power in Kiev.’

          https://original.antiwar.com/justin/2014/03/11/what-color-is-ukraines-color-revolution/

          1. Yesterdays question: the first casualty of war?

            Usually that would be “truth”, but, in this case, probably Brandon’s underpants.

      1. The Federalist — The Ruling Class Is A Far Greater Threat To Americans Than Russia Is (2/25/2022):

        “our elites detect an insufficient support for the White House — and an insufficient hatred of Putin.

        They’re shocked their bugles ring hollow in the ears of so many conservative and Christian Americans. Our lack of enthusiasm infuriates them to their core; they’re shaking with indignation.

        There’s no gentle way to say it, but the truth is that a lot of us hate our elites far more than we hate some foreign dictator. It’s a tough truth for the tough place our civilization is in — and surely, it’s a difficult truth for our ruling class to see amid the glare of their self-righteousness.”

        The Day Of The Rope is coming…

        “From Western Europe to West L.A., we know we’re governed by leaders in business, entertainment, and politics who hold scorn for our country, its history, its heroes, its people, and their religion.

        They have the money and the power, too. They can freeze truckers’ bank accounts and mask children as young as three. They can order Australians into internment camps and host drag queen story hours. They can force vaccinations, close churches, arrest priests, bankrupt businesses, prosecute bakers, empty prisons, defund police, and sometimes even win votes.”

        You can’t be a globalist and an American.

        “One thing they can’t have, however, is the moral authority to rule a civilization they despise. They are the very thugs they claim to stand against; they have no legitimacy.”

        https://thefederalist.com/2022/02/25/the-ruling-class-is-a-far-greater-threat-to-americans-than-russia-is/

        No legitimacy? The 2020 election was stolen. COVID didn’t destroy the economy, government destroyed the economy. COVID didn’t steal your children’s future, government stole your children’s future.

        Globalists, you are no longer afforded the protections of the United States Constitution, because you are not Americans, your citizenship has been revoked, and you are now classified as enemy combatants.

        Ben, get the ropes ready 🙂

        1. Yep, I agree with you guys. I don’t acknowledge that Biden is a legitimate President because of a criminally rigged election.
          The interest of this Globalists takeover, is not the interest of majority US citizens. There has been infiltration and hijacking of US by these forces who plan a One World Order Dictorship under Tyrants .
          Just because the attack has been bomb less , the destruction, looting , murder and mayhem of this Enemy is no different than a invading army .
          So, we the people have our own current war to take back America from this criminal power grab, that doesn’t have the right to use the full force of the US Military to accomplish goals that aren’t in the interest of US populations.

    2. Hordes of men in Donetsk region of all ages suiting up to join Russian forces and fight Ukrainian army. Are these the people NATO is claiming to want to defend against Putin’s aggression? The citizen reporter here is an American and, I believe, a US navy veteran. Not gonna see this on CNN or FOX.

      https://www.youtube.com/watch?v=qDKUCMNL6oU&t=5s

      No doubt, there are strongly anti-Russian regions in Ukraine to the west.

      1. Getting reliable information is challenging. I take the MSM’s reporting with a huge grain of salt. They hate Putin and Russia, so I expect them to say that the globalist backed regime is prevailing. It will be interesting to see how the WEF and other globalists will react should Russia win.

        I’ve seen news stories about people pouring their Russian vodka down the drain. If you’ve already paid for it they got your money. I don’t see how throwing it away will hurt Russia.

        You wanna hurt Russia? Start more oil and natgas production. Oh yeah, Brandon has put an indefinite moratorium on new drilling leases. $100+ oil, that’ll learn Putin who’s boss.

        1. I too saw the reports about people pouring out Russian vodka. The stupid is so big it hurts. But never fear, I’m sure they are masked, vaxed, and boosted. Therefore, very safe.

  3. ‘When housing prices increase, standards of living decrease for a significant portion of the population, said Steven Peterson, University of Idaho clinical associate professor of economics. ‘The housing costs are crowding out other kinds of spending,’ Peterson said. ‘Rising housing prices hurt other businesses, downstream businesses’

    This is the most baffling part of housing bubbles that the media and guberments/central banks get away with ignoring. If shelter were cheap, that leaves money to invest, save, spend more freely on things we all want and need. If we’re chained to this housing roller coaster, that’s not there. And then there’s the investments that aren’t made cuz we’re dumping huge portions of everyone’s earnings into shack payments.

    This path they’ve chosen is a dead end.

  4. ‘That increase has resulted in homeowners paying an average of $675 more per month, bringing the average monthly mortgage payment in Seattle to a whopping $2,615…The report said that 31% increase in the buyer’s monthly payment, wrought by rising home costs and higher mortgage rates, is the highest increase on record’

    Highest prices, no bubble. Highest payments? No bubble. Lowest interest rates in around 5,000 years? 30 year loans being given out at half the inflation rate?

    Something is gonna break!

  5. This is a urine soaked mattress article.

    Washington Post — ‘Stand your ground’ laws spread — and grow ‘more extreme’ — 10 years after Trayvon Martin’s death (2/25/2022):

    https://archive.fo/q6IH8

    No article excerpt needed, it’s the usual Disarm Whitey narrative you’d expect from a globalist sh*trag like the Washington Post.

    Real Journalists, we remember the lies. We remember you only publishing Saint Trayvon’s school picture from when he was 12 years old. We remember how you bleached (half-Peruvian) George Zimmerman to make him look whiter.

    We remember 2020 and the dozens of deaths and $2+ billion of property damage. We remember the actual insurrection, in Seattle, where territory was unlawfully seized and occupied.

    We remember Kenosha, we know what you did to America’s Son, Kyle Rittenhouse, a true American patriot.

    Trayvon Martin called himself the “No Limit N*gga” on his social media, had been arrested at his high school for suspicion of burglary, and was a regular user of “lean” i.e. promethazine with codeine.

    A thug, junkie, thief.

    “If I had a son, he’d look like Trayvon” — Barack Obama

    Apple never falls far from the tree…

  6. This is a pearl clutching article.

    New York Times — A Kennedy’s Crusade Against Covid Vaccines Anguishes Family and Friends (2/26/2022):

    “the son and namesake of Robert F. Kennedy, the New York senator, attorney general and Democratic presidential candidate assassinated on June 5, 1968, has become an unimaginably polarizing figure in this tight-knit political family.

    Once a top environmental lawyer who led the charge to clean up the Hudson River in New York, the third eldest child of Robert and Ethel Kennedy has emerged as a leading voice in the campaign to discredit coronavirus vaccines and other measures being advanced by the Biden White House …

    “The minute they hand you that vaccine passport, every right that you have is transformed into a privilege contingent upon your obedience to arbitrary government dictates,” he told a cheering crowd at a rally against vaccine mandates in Washington last month. “It will make you a slave.”

    https://archive.fo/AXl5f

    Are you a citizen, or are you a slave?

    1. Forbes — A National Vaccine Pass Has Quietly Rolled Out – And Red States Are Getting On Board (2/24/2022):

      “While the United States government has not issued a federal digital vaccine pass, a national standard has nevertheless emerged. To date, 21 states, the District of Columbia and Puerto Rico offer accessibility to the SMART Health Card, a verifiable digital proof of vaccination developed through the Vaccination Credential Initiative (VCI), a global coalition of public and private stakeholders including Microsoft, Salesforce, Oracle, the Mayo Clinic and other health and tech heavyweights.”

      So you support requiring ID to vote too, right?

      “When the QR code is pulled up, only the individual’s name, date of birth and vaccination information is visible. No other medical information or personal data is shared. This code is also digitally signed to ensure that the card was issued from a verified location and to prevent forgery.”

      No other information is shared? LMFAO

      “And at an international level, we are continuing to see intense interest in a coordinated international approach,” says Anderson. “And that has not diminished at all. I think quite the opposite.”

      Coordinated international approach? That sounds like the elimination of national sovereignty and handing over your Constitutionally protected rights as a U.S. citizen to unelected globalist bureaucrats.

      “having a vaccine verification system in place prepares the U.S. for the next coronavirus variant as well as the inevitability of a future pandemic.

      Today the main threat to our health and economy remains the omicron variant, says Anderson. “But it’s going to be pi in a couple months, and it’s going to be the same situation. Yes, we’re going to get to an endemic phase of all of this, but that doesn’t change the need to continue to protect the citizens of a nation from highly transmissible and communicable diseases.”

      https://archive.is/IEgX8

      No middle ground. You either support freedom or you support tyranny.

      1. I didn’t have to read past the headline to know Mittens and Nancy Graham were two of the four.

        Vax Mandates Remain After Four Republican Senators Skip Senate Vote

        By Cullen McCue
        February 18, 2022 at 5:48pm

        On Thursday evening, the U.S. Senate voted down an amendment to the 2022 Continuing Resolution (CR) that would have defunded vaccine mandates. The vote ultimately passed 47-46 after Senators Mitt Romney (R-UT), Jim Inhofe (R-OK), Lindsey Graham (R-SC), and Richard Burr (R-NC) opted not to show up for the vote. The absent Republican senators gave Democrats, who were missing three votes themselves, the narrow majority they needed and ensured mandates would continue to receive funding.

        https://nationalfile.com/vax-mandates-remain-four-republican-senators-skip-senate-vote/

      2. They still aren’t waving any white flags. While they tell you with a big grin that you don’t have to mask up anymore (as if you need their permission) they also tell you to get your QR Code.

        I don’t have a QR code. Free people don’t have one.

    2. RFK Jr is a hero, period. I only got through Chapter 1 of his “The Real Dr Fauxchi” before I had to return it to the library (yes, I know, just buy the stupid book but times are tough). That first chapter is astounding. Permanently injured by a flu vaccine 9 years ago I am a current refusenik, not at all “hesitant”. Don’t get me stahted. My former fave pub/eatery next to Boston is STILL requiring proof of booster for anyone 12 years and older effective March 1st “To keep our staff and guests as safe as we possibly can”. Can you imagine? You’re out with your kid and they’re hungry. In order to get a burger and fries at this place, your child needs to be injected 3 times with this sh*t?

      It’s mind boggling. I can’t believe this is the year 2022.

      1. Overwhelming evidence of the following. :

        Fake Covid Pandemic
        Fake PCR tests to establish A faked Pandemic.
        Fake unsafe and unproven expiermental new technology vaccine, marketed as the only solution.
        Criminal suppression of meds that cured the so called Covid , that would of disqualified EUA of a expierment warp speed vaccine. .
        Criminal collusion by fake news with censorship to defraud the public on informed consent or dispute to the vaccines.
        Bribery of hospital medical system by incentive paid to diagnose Covid and use Fauci protocol killer drug for EUA, when such drug had over a 50 % death rate by shutting down kidneys and other life threatening side effects. Also the most expensive drug at 3 thousand . This drug was just some ineffective pulled drug from prior Ebola trials .
        At the same time fake news, Fauci and CDC , slander, suppression and obstruction of already approved for safety long term cheap drugs proven highly effective in treatment against Covid and respiratory afflications.
        Cover up of unacceptable death and injury numbers on toxic vaccines.
        Evidence of unacceptable lack of consistency in manufacturing vaccine.
        Threat of job loss if vaccine isn’t taken. Also bribery to take vaccine we all witnessed , like free hamburgers , fries, lottery ticket, etc. All designed to avoid informed consent and a false advertising defrauding of public by fake news, Fauci, President, Big Pharmacy the fraud the vaccine were safe and effective. Evidence of rigged trials by Big Pharmacy.
        Overwhelming evidence the vaccines don’t work as promised , and no risk benefit analysis .
        Inappropriate and unscientific goal of mass vaccination of globe, even if you don’t have risk like children , already have immunity by getting Covid, or shouldn’t get the jab if your pregnant.
        Criminal refusal to pull the vaccine with intent to bring on more of the poison injections , while pushing boosters of same junk injections, not applicable to the current omicron stain.
        Applied brainwashing and fear mongering to induce taking the vaccine, masks, etc.
        False projections by College in Washington that up to 3 million would die in US first year, after Bill gate gave a Grant of 300 million to that institution. Turned out to be a false projection .
        Conflict of Interest with Dr Fauci funding gain of function research in same lab in China that they say leaked the bio weapon of Covid. Perjury by Fauci to Congress he didn’t fund research , in spite of evidence presented by Congress he did.
        Thousands of Doctors, Scientists, whistleblowers , victims, being slandered, censored cancelled , threatened and silenced, if they dispute or object or present evidence against this outrageous medical fraud against the public.
        Oh sorry, I could go on and on because there is so much evidence of the crimes.
        But suffice to say , I’m not going to take a injection from entities that are fraudster criminals that don’t care if they kill, injure, poison , lockdown , or cut off air by useless masks, while they loot the tax coffers on this medical fraud.
        Seriously , don’t comply with these criminals.

  7. From that Canadian article:

    “Most mortgagors have ample home equity or financial resources to fall back on and the overwhelming majority are stress tested – that is, they must prove they can afford at least a 200-bps rate increase.”

    So almost all Canadians can handle a big rate jump.

    “Prior to these 31-year highs in inflation, most Canadians were already living beyond their means – more than half being just $200 away from not covering their monthly expenses. A 150-plus-bps rate increase wouldn’t help. It would boost payments by more than $400 a month for someone mortgaging the average Canadian home with 20 per cent down and a 25-year amortization.”

    So most Canadians cannot handle a smaller rate increase than what is predicted.

    “Fortunately, most floating-rate borrowers have fixed payments. They won’t experience any payment shock until they renew or refinance.”

    So most are locked in for some period of time.

    “And no less than 54 per cent of borrowers have been choosing record-low variable rates, according to the latest monthly data from Statistics Canada.”

    But the majority have variable rates, which adjust as soon as the central bank raises it rate.

    1. So most Canadians cannot handle a smaller rate increase than what is predicted.

      Maxing yourself out on a variable rate mortgage, when rates are at record lows and can only go up, is financial suicide.

      1. financial suicide

        High Density “housing” is close to 10x income in the little backwater where my Canadian GF lives. Now gas and food prices are soaring. They’re going to be a lot thinner.

      2. That article is 100% full of contradictions. Almost as if it were written by two different people, one paragraph from a realtor and then the next paragraph from someone telling the truth.

    2. AND … what is not mentioned is that contributions to these folks RRSPs and TFSAs (somewhat similar to 401Ks and RothIRS) will not be made.

      In 20 or 30 years – if there is not sufficient appreciation in the price of housing stock – these folks will be struggling at retirement age. Image having to be a store greater or cashier in your 70’s.

      It sucks – because the bankers and REIC (along with govt officials) did not have common sense.

  8. American Greatness — Why They Can’t Make Trump Go Away (2/25/2022):

    “In the election of 2016, Donald Trump appealed to citizenship, sovereignty, and borders. This was a direct entreaty to the people as the ultimate source of sovereign authority, bypassing the ruling-class elites that dominate the media and the universities; his appeal also ignored political experts, pollsters, and government bureaucracy. In the postmodern world, the nation-state is under attack everywhere as the source of all evil, the cause of war, selfishness, racism, white privilege, misogyny, homophobia, transphobia, Islamophobia, and all the other irrational phobias that make up the universe of political correctness. The idea of the nation-state itself is said to be irrational and arbitrary.

    No empire has ever been a constitutional democracy or republic, nor will constitutional government exist in global government. If, as is widely alleged, the dialectic of History is inevitably tending toward global governance and universal citizenship, then it is also tending toward tyranny.

    The universal homogeneous state will not be a constitutional government based on the consent of the governed; it will be an administrative tyranny based on the rule of scientific experts. Science, not the consent of the governed, will be the basis for rule. There will be no citizens in this universal state; there will only be clients of the administrative state. We see clearly a presage of the future of the world in today’s United States, where administration has replaced politics and the Constitution.”

    https://amgreatness.com/2022/02/25/why-they-cant-make-trump-go-away/

    This is a longer article.

    And after reading it, you should ask yourselves do you want to be a citizen or a slave? Where is your primary allegiance, to the United States Constitution? Or to unelected globalist bureaucrats?

    President Donald J. Trump will be delivering remarks at CPAC tonight at 7pm EST, you can see his speech on C-SPAN without commentary or interruption.

    America can not co-exist with globalism.

    Which means all globalists must die 🙂

  9. Looks like Vlad’s blitz has bogged down in the face of tenacious Ukrainian resistance. Meanwhile, the Ukrainian Association of Realtors has issued a statement that there’s never been a better time to buy Ukrainian real estate than right now.

    Why Putin’s ‘£15BILLION-a-day’ invasion is NOT going to plan: Army ordered to advance ‘from all directions’ as Ukrainian troops OBLITERATE enemy convoy and Estonian ex-defence chief says Russia will run out of money and weapons if Kyiv hold out for 10 days

    https://www.dailymail.co.uk/news/article-10554269/Ukraine-DESTROYS-Russian-convoy-Zelenskys-troops-derail-Kremlin-push-Kyiv.html

    Vladimir Putin’s war with Ukraine is not going to plan due to Kremlin ‘overconfidence’, poor tactical planning, and ‘shock’ at the fierce resistance put up by brave Ukrainians fighting for national survival, intelligence sources have claimed.

    Dramatic video shows a destroyed Russian convoy with Z-markings near Kherson in the south of the country on the third day of fighting after Ukraine’s army held control of Kyiv and last night successfully repelled Russian advances on the capital.

    1. It crosses my mind that even should the invasion work out as planned, how are they planning on occupying Ukraine? I figured they would only occupy the Donbas.

      1. Looks like they’re going for the whole enchilada. But Putin’s undoing might be his belief that Ukrainians want to be reincorporated into Russia. Clearly, they don’t, and see their future as being aligned with western Europe, not Moscow.

        1. Clearly, they don’t

          Certainly not the Neo-Nazi ones, but those suiting up to fight alongside the Russians might want something.

      2. I think Putin’s plan is a quick victory, concessions including no NATO membership, independence for Russian provinces in Eastern Ukraine,, no nuke’s, etc and then speedy exit leaving Russian forces only in eastern areas.

        But it’s looking to me like the Korean War where China was able to covertly support the. North by taking advantage of its border. The west can use a similar strategy to frustrate the Russian offensive by coordinating from NATO countries on the western border. Russia can’t attack those countries directly without triggering total nuclear destruction:

        My guess is a similar outcome where Russian forces get bogged down demoralized and are forced to negotiate for half of what they want after a long ugly conflict;

    2. “Why Putin’s ‘£15BILLION-a-day’ invasion is NOT going to plan:”

      Or is it?

      Nobody is mentioning Canadian Dictator Trudeau trampling old women with horses or freezing bank accounts of people who donated $50 to the peacefully striking truckers. Nobody talking about the number one killer of people 18 – 49 last year being fentanyl that pours across our open Southern Border. Reports of undocumented men being flown into Westchester Airport and the like in the middle of the night and being chauffeured to destinations unknown has louder crickets covering the story than it did before. Who has time to think about the January 6 protestors who were invited into the Capitol by the Capitol Police who have been rotting for a year in the Gulags of DC without being charged or having decent legal representation. I heard a liberal talking head scold the people listening about being concerned with petty thing like vaccine and mask mandates while Putin was invading Ukraine! As Deplorable posted above “A National Vaccine Pass Has Quietly Rolled Out” under the cover of Putin’s invasion. No one seems to be bitching about $3.50 a gallon gas due to Biden’s policies because they are being told it is going much higher and it is your Patriotic duty to accept it or you are obviously a Nazi. High prices at the grocery store where you shop from sparsely stocked shelves? Buck up Mr. and Mrs. America it’s going to get worse so deal with it.

      NOT going to plan?

      I don’t know about that.

      1. My oldest uncle, who married my father’s sister Aunt Goon (both now deceased), served in World War II and fought against actual Nazis in North Africa and Italy.

        To think of his generation’s level of sacrifice has all been for nothing, for the complete abdication of American national sovereignty to unelected globalists.

    3. The Daily Mail is Britain’s version of NYC’s The Daily News. I would take anything they report with a grain (or chunk) of salt.

  10. Starting to look like Vlad may’ve bitten off more than he can chew.

    Brothers in arms: Estonians, Latvians, Poles and Georgians travel to border crossings to join Ukrainians in the fight against Putin’s army, writes NICK PISA on the Poland-Ukraine border

    https://www.dailymail.co.uk/news/article-10554659/Brothers-arms-Foreigners-travel-join-Ukrainians-fight-against-Vladimir-Putins-army.html

    Foreigners are joining brave Ukrainians heading into the heat of battle to take on the might of the Russian army.

    Estonians, Latvians, Poles and Georgians were all traveling to border crossings following an appeal by Ukrainian President Volodymr Zelensky.

    He had called for Europeans with ‘combat experience’ to help in the bitter struggle against despot Vladimir Putin’s forces.

    1. No one on Ukraine’s western borders wants a Russia vassal state next door. And in Eastern Ukraine significant parts of the country don’t want to be part of Ukraine.

      It would seem the longer this goes on the more difficult it gets for Russia. Maybe there was a grander plan by the West to force Russia into a situation where it felt compelled to invade Ukraine and overextend itself into a vulnerable position.

      This could turn into a long ugly protected guerrilla and civil war.

      The world is just a big chessboard to the big shots and the lives of ordinary citizens and even the existences of entire nations are expendable.

      1. This could turn into a long ugly protected guerrilla and civil war

        Naturally, no one noticed that it has been a civil war for the better part of a decade.

  11. The Next Step for the World Economic Forum

    https://brownstone.org/articles/the-next-step-for-the-world-economic-forum/

    It has been obvious since early 2020 that there has been an organized cult outreach that has permeated the world as a whole. It’s possible that this formed out of a gigantic error, rooted in a sudden ignorance of cell biology and long experience of public health. It is also possible that a seasonal respiratory virus was deployed by some people as an opportunity to seize power for some other purpose.

    Follow the money and influence trails and the latter conclusion is hard to dismiss.

    The clues were there early. Even before the WHO declared a pandemic in March 2020 (at least several months behind the actual fact of a pandemic) and before any lockdowns, there were media blitzes talking about the “New Normal” and talk of the “Great Reset” (which was rebranded as “Build Back Better”).

  12. On Friday the markets seemed to be betting on a quick resolution to the Russia-Ukraine war, given what looked like Putin’s overwhelming military superiority. Not so sure about that.

    Russian army ordered to broaden Ukraine advance: Defense ministry

    https://english.alarabiya.net/News/world/2022/02/26/Russian-army-ordered-to-continue-Ukraine-advance-Ministry

    The Russian army has been given orders to broaden its offensive in Ukraine “from all directions” after Kyiv refused to hold talks in Belarus, the defense ministry said Saturday.

    Russian forces have made thrusts into the Ukrainian capital Kyiv before falling back to the outskirts, facing tough resistance on day three of the invasion ordered by President Vladimir Putin.

  13. I see what you did there, globalists.

    A National Vaccine Pass Has Quietly Rolled Out – And Red States Are Getting On Board

    https://www.forbes.com/sites/suzannerowankelleher/2022/02/24/national-vaccine-quietly-rolled-out/?sh=350576676be6

    Even as the omicron variant loosens its grip on the world, destinations continue to require travelers to show proof of vaccination. And, increasingly, a paper CDC vaccination card is not cutting it.

    While the United States government has not issued a federal digital vaccine pass, a national standard has nevertheless emerged. To date, 21 states, the District of Columbia and Puerto Rico offer accessibility to the SMART Health Card, a verifiable digital proof of vaccination developed through the Vaccination Credential Initiative (VCI), a global coalition of public and private stakeholders including Microsoft, Salesforce, Oracle, the Mayo Clinic and other health and tech heavyweights.

  14. If Russian troops expected to be greeted as “liberators” by their Ukrainian “brothers,” they may be in for a rude awakening.

    ‘Need a tow back to Russia?’ Ukrainians taunt soldiers after their tank runs out of fuel on its way to Kyiv

    https://www.dailymail.co.uk/news/article-10554929/Video-claims-Ukrainians-mocking-Russian-tank-stuck-without-fuel-road-Kyiv.html

    This is the moment a Ukrainian driver mockingly asks invaders if they need a ‘tow back to Russia’ after spotting their tank had broken down on a road en route to Kyiv.

    The clip, shared widely across social media, appears to show an encounter between a group of Ukrainians and Russians who are said to be stranded at the side of a road outside of the Ukrainian capital.

  15. Since the stock market saw fit to rally yesterday in the face of the war, I just couldn’t resist buying the dip – in my favorite inverse REIT ETF fund.

    For that matter, every time I see a gung-ho REIT article in the news, it helps remind me to check the price on my inverse, and maybe buy some more.

  16. The Mountain Democrat in California. “‘My husband and I purchased a home in June of last year. Because we lost two previous homes where we had made offers, we bid $20,000 over the listed price. We love our home but feel we paid too much. I have two questions. Is the market slowing down? Do we need to be concerned?’”

    My husband and I are in our 30s and have our first baby on the way. I can’t fathom where people are getting $20,000 over asking price for their homes. It’s a real problem in Florida, too, as I watch people go into bidding wars and know that we’ll never be able to get a home in this market- or maybe ever. I’ve lived in my town for my entire life and I am absolutely dumbfounded at what people are paying for houses. We looked at a couple that were more expensive that we wanted – just to look, and I couldn’t believe people are getting away with asking $280k plus for dumps that need total remodeling. This whole system of easy money, irresponsible borrowing and the unnatural demand it creates, and wealth redistribution via transplantation of the wealthy from places like NY and CA needs to come crashing down.

    1. where people are getting $20,000 over asking price

      And where they are getting $200,000 over what it might be worth?

      It’s a trap.

      1. I agree. The question is when it will come crashing down. I have friends who have home loans, auto loans, student loans, loans, loans, loans. All they with their money is pay loans. So what are they going to do when inflation is so out of control that they can’t make their “low monthly payment” and feed their kids?

        1. o what are they going to do

          Sell the boat, the jet ski, the motorcycle, etc., at a steep discount, of course. Then when that money runs out, they default.

    2. You live in a state that has a long history of real estate bubbles. It is actually a great opportunity to learn from. Research the patterns that go back many decades and you will see a very clear cycle to the madness. From this knowledge you will be able to patiently wait to make your kill shot when it crashes again which it will soon. The best time to be a buyer in Florida is when all the retards who overpaid are getting foreclosed on and are moving out. In 4-5 years from now there will be amazing bargains to be had. Will you be ready with cash or will you miss the boat?

    3. “We looked at a couple that were more expensive that we wanted – just to look, and I couldn’t believe people are getting away with asking $280k plus for dumps that need total remodeling.“

      Whew – I hear ya. My wife and I are in North County San Diego, and it’s about $600k+ for a fixer in any location we would care to live in. We’ve got a lot of cash to put down, and I’ve been struggling to keep the peace as I refuse to sign a loan on a house I’m this market.

      Right now we rent, we live a modest but fun life with ski trips for the kids, eating out, etc. and we have great reserves if anything happens. Still, she’s fully invested in both the mythology of prestige that comes with “owning” a house, and also the financial mythology that real estate always goes up.

      I would be okay (at 45 years old) with never buying another house – but if we *are* gonna do it I’ve got a spark plug of a woman to convince to wait. 4-5 years is gonna be an eternity hahahaha

      1. Still, she’s fully invested in both the mythology of prestige that comes with “owning” a house, and also the financial mythology that real estate always goes up.

        I’m so glad I never got married. Uggh.

  17. The vultures are picking away at Evergrande’s carcass.

    Evergrande is losing some property projects as China’s state-owned companies pick away at the assets of world’s most indebted developer

    https://www.scmp.com/business/china-
    business/article/3168506/evergrande-losing-some-property-projects-chinas-state-owned

    China Evergrande Group lost control of some of its property projects around the country, as several state-owned developers picked away at its assets while the heavily indebted builder teeters on the brink with more thanUS$300 billion of total liabilities.

    Evergrande Fairyland, a theme park subsidiary in the Nansha district of the Guangdong provincial capital of Guangzhou was completely taken over on January 26 by the China Minmetals Group’s Minmetals International Trust, according to the business data search platform Tianyancha.

  18. You get more truth from RT than from any corporate media in the alleged free world of the West.

    RT — Why does this influential, unelected globalist entity really exist? (2/26/2022):

    “The World Economic Forum (WEF), colloquially known as “Davos”, for those familiar with the annual pilgrimage by the international elite to the eponymous town in Switzerland, has been on the tips of many tongues over the past two years — notably within the context of the Covid-19 crisis. Just before the Covid pandemic, on October 15, 2019, the organization announced that it was holding a “live simulation exercise to prepare public and private leaders for pandemic response.” If that sounds oddly coincidental, buckle up, because it only gets weirder.

    Speaking at a United Nations videoconference in the fall of 2020, Justin Trudeau raised eyebrows, with a hint of a potential link between the global pandemic and the Forum. “This pandemic has provided an opportunity for a reset,” Trudeau said. “This is our chance to accelerate our pre-pandemic efforts, to re-imagine economic systems that actually address global challenges like extreme poverty, inequality and climate change,” he added, evoking a “reset” concept much promoted by the WEF from the onset of the pandemic, that frames the crisis as an opportunity to fundamentally change the way that developed societies function.

    Then in August 2021, Dutch MP Gideon van Meijeren asked Prime Minister Mark Rutte about a letter he wrote to WEF Founder Klaus Schwab in which he said that Schwab’s book, “Covid-19: The Great Reset,” published on July 9, 2020, within the first few months of the pandemic, “inspired him to build back better.” The phrase also happens to be the name of US President Joe Biden’s legislative agenda, which includes increased wealth transfer into the murky black hole of climate change and “social spending.”

    It would be easy to chalk it all up to creepy rhetorical coincidence if there wasn’t an actual link between Schwab, Davos, and elected officials like Rutte and Trudeau. It’s a link about which even Schwab himself has bragged. In 2017, he told an audience at Harvard University’s John F. Kennedy School of Government: “What we are very proud of is the young generation, like Prime Minister Trudeau… We penetrate the cabinets.”

    https://www.rt.com/news/550523-wef-davos-agenda-covid-schwab/

    Penetrate? How about a few rounds of hot lead penetrating your skull Klaus Schwab?

  19. Diversity is our strength.

    North Carolina cop is arrested after ‘trying to sell 56 grams of cocaine for $2,600 while in uniform and sitting in his police car’

    https://www.dailymail.co.uk/news/article-10555147/North-Carolina-cop-arrested-trying-sell-56-grams-cocaine-2-600-uniform.html

    A North Carolina police officer is accused of selling 56 grams of cocaine for $2,600 while he was in uniform and sitting in his patrol car, according to federal prosecutors.

    Raleigh police officer Keven Rodriguez, 33, was taken into custody by agents with the Drug Enforcement Administration (DEA) on Wednesday after a judge issued a warrant for his arrest, U.S. Attorney Michael Easley said at a news conference.

  20. Takin’ out the trash. Anyone who has ever had to put up with rude inconsiderate a-holes on their cell phones in theaters is quietly cheering this verdict.

    Retired Florida cop, 79, is CLEARED of murdering moviegoer after telling the man to stop texting on his phone, then shooting him dead after victim threw popcorn at him

    https://www.dailymail.co.uk/news/article-10553911/Retired-cop-Curtis-Reeves-killed-moviegoer-texting-film-CLEARED-murder.html

    A retired Tampa police captain who gunned down a 43-year-old father after confronting the man over texting in a movie theater was cleared of second-degree murder and aggravated battery charges Friday night.

    A jury declined to convict Curtis Reeves, 79, who in 2014 fatally shot Chad Oulson, 43, during the argument over the dad messaging his babysitter on his phone during the movie previews. Reeves sat impassively as the verdicts were returned, and hugged his lawyer after he was officially cleared on all counts.

    The disagreement escalated and Oulson threw his popcorn at Reeves who shot him in the chest inside the Grove 16 movie theater in Wesley Chapel, a suburb of Tampa.

  21. The U.S. stock market supposedly went up yesterday because Russia was ready to offer an olive branch to Ukraine.

    How is the peace mission shaping up today?

      1. “‘Don’t call it a war’ – propaganda filters the truth about Ukraine on Russian media”

        I’m sure glad propaganda doesn’t filter the truth on our media. 🙂

  22. America’s Ukraine Hypocrisy

    The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking.

    AUGUST 6, 2017 • COMMENTARY
    By Ted Galen Carpenter

    The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking. Russian intelligence intercepted and leaked to the international media a Nuland telephone call in which she and U.S. ambassador to Ukraine Geoffey Pyatt discussed in detail their preferences for specific personnel in a post‐​Yanukovych government. The U.S‑favored candidates included Arseniy Yatsenyuk, the man who became prime minister once Yanukovych was ousted from power. During the telephone call, Nuland stated enthusiastically that “Yats is the guy” who would do the best job.

    Nuland and Pyatt were engaged in such planning at a time when Yanukovych was still Ukraine’s lawful president. It was startling to have diplomatic representatives of a foreign country—and a country that routinely touts the need to respect democratic processes and the sovereignty of other nations—to be scheming about removing an elected government and replacing it with officials meriting U.S. approval.

    The two diplomats also were prepared to escalate the already extensive U.S. involvement in Ukraine’s political turbulence. Pyatt stated bluntly that “we want to try to get somebody with an international personality to come out here and help to midwife this thing [the political transition].” Nuland clearly had Vice President Joe Biden in mind for that role. Noting that the vice president’s national security adviser was in direct contact with her, Nuland related that she told him “probably tomorrow for an atta‐​boy and to get the details to stick. So Biden’s willing.”

    Both the Obama administration and most of the American news media portrayed the Euromaidan Revolution as a spontaneous, popular uprising against a corrupt and brutal government.

    https://www.cato.org/commentary/americas-ukraine-hypocrisy

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