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Prices Are Falling And The Market Is Weakening Quickly As A Glut Of Properties Appeared

A report from the Seattle Business Journal in Washington. “Rising mortgage rates are expected to put a damper on double-digit home price increases in the next 12 months, especially in the Bremerton-Silverdale area, which was singled out as having one of the most overpriced markets in the country in a Corelogic report. It said the Kitsap County metro is one of the five markets most likely to see housing price stagnation or decline in 2022. Home prices in the Bremerton-Silverdale area surged 17.2% year over year as of January, but the increase doesn’t align with the area’s income level.”

“‘With prices high relative to resident income, the area appears to potentially be overvalued, heightening the risk of stagnant or possibly declining values in the next 12 months,’ said Frank Nothaft, chief economist at CoreLogic. Lake Havasu and Prescott, Arizona, and Norwalk and Hartford, Connecticut, also made ‘overvalued’ list.”

The Darian Times in Connecticut. “Currently on the market for $7.5 million the Victorian home on 1111 Sasco Hill Road in Fairfield was put on the market in July 2020 for $9.5 million, marking the first time it was for sale since 2006. By February 2021, the home was briefly taken off the market and relisted six days later for $8.395 million, according to the Realtor.com property details. Two months later, the price dropped to $7.999 million before the listing was removed in February 2022 to make way for a nearly $500,000 price drop.”

The San Francisco Examiner in California. “There’s no more vivid image of San Francisco’s inequality: thousands sleep on the streets each night, while thousands of luxury condos sit empty above them. Now, this progressive rallying cry has led to a concrete policy proposal, as a signature-gathering effort gets underway to put an ’empty homes tax’ on the November ballot. Sarah Karlinsky, a housing policy analyst for SPUR called the sold but not occupied category the ‘weirdest’ part of the BLA report, noting that vacancies in that category grew ten-fold between 2012 and 2019. ‘You would think a foreign princess is just buying them and storing her international capital there, but then you look at where they are… If there are hundreds of units that are in those neighborhoods that are used as investment properties, it just doesn’t seem right to me.'”

“‘We look at the problem and see it overwhelmingly in larger condo buildings and smaller apartment buildings,’ said Supervisor Dean Preston . ‘One only needs to walk around some of the new construction South of Market and downtown and you just see so many vacant units.””

From SocketSite. “The number of homes on the market in San Francisco, net of all new sales, either pending or closed, climbed another 8 percent over the past week to 850, representing an 85 percent increase in inventory since the start of the year, which is an even bigger, not smaller, increase in inventory than historic seasonality alone would predict.”

“At the same time, listed inventory levels are still 12 percent lower than at the same time last year, but the year-over-year deficit has been on the decline since mid-November (when it measured over 40 percent) and there are now 20 percent more homes on the market in San Francisco than there were prior to the pandemic, over twice as many as they were in 2015, and the second most homes on the market at the end of February in over a decade.”

From Radio Canada. “Over the past several months, mortgage agent Rasha Ingratta has fielded a flood of queries from clients worried about how rising interest rates will impact their mortgage payment. ‘People are in a panic,’ said Ingratta, who works with Mortgage Intelligence in Windsor, Ont.’ They’re thinking, ‘Oh my God, what is the interest rate going to go up to?'”

“Roy Graham of Shrewsbury, Ont., said he’s worried about the impact of rising rates on his $150,000 variable-rate home equity line of credit. Graham, a 66-year-old retired emergency response worker who lives on a fixed income, is concerned how higher debt payments will affect his already stretched budget. ‘Your hydro is going up, your water bills are going up, your taxation is going up, so it just compounds everything. It’s just — it’s like the straw that broke the camel’s back.'”

“Toronto-based bankruptcy specialist Doug Hoyes said he’s concerned about potential consecutive rate hikes. ‘If it is the start of a series of increases, that’s where it becomes a problem,’ said Hoyes. ‘You could be in for a big shock to your monthly budget.'”

From Domain News. “This time last year, Australia was in the early days of an unprecedented property boom that would touch just about every corner of the nation. Twelve months on, the advent of autumn reveals a patchwork of property markets; some have lost all momentum as the threat of interest rate rises, price rise fatigue, and the balance of supply and demand shifts in favour of buyers. ‘This year, they’ll have much greater choice in terms of the property available for sale, and they’ll be transacting in a market with less pace. That red-hot urgency that was there this time last year isn’t there this autumn,’ said Domain’s head of research and economics Nicola Powell.”

“No other capital city has had the volume of new property hit the market that Melbourne has – the number of new listings has grown by 29 per cent within the space of one week. That choice has taken the heat out of the market, says local buyer advocate Mal James. ‘That fear of missing out that we had last year has disappeared. The urgency we saw from buyers has come out of the market. That comes from seeing more stock,’ he said. ‘Buyers are now more cautious, and price is a significant button-pusher. Unless they perceive they are getting a bargain, buyers are not performing with the same urgency that they were last year.'”

From Stuff New Zealand. “One of the last property information companies reporting house price increases now says prices are falling, and the market is weakening quickly. CoreLogic’s House Price Index predicted the downward trend would persist, largely due to homes being generally unaffordable and buyers having more choice as a glut of properties appeared on the market. A standoff seemed to be developing between sellers, who expected the kind of prices paid last year, and buyers, who were unwilling to pay so much as interest rates increased and confidence fell, said head of research Nick Goodall.”

“In the short term, it looked like buyers were going to win the standoff, with supply likely to continue to lift and demand likely to stay low due to stricter lending conditions cutting many hopeful buyers off from a home loan, Goodall said. Sellers may need to adjust their expectations, or resign themselves to staying put for a longer period, he said.”

“Goodall said the groups that should be most concerned about price falls were those who bought recently with the hope of snapping up short-term capital gains, and anyone who had bought a new home but failed to sell their existing property. ‘If you’re buying to hold long-term there’s really no need to panic,’ he said.”

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This Post Has 147 Comments

    1. Which one, the bald one or the not bald one? The one with earlobes dangling or attached? I may have time this AM to go watch the newest crop of video game action from Ukrania.

      1. Fake from a fake

        https://www.bitchute.com/video/1nHOIUzoz9Wl/

        2 and a half minutes. The description:

        ‘A 16s 765ms unlisted video recently appeared claiming to be “corpses” connected to Ukraine. It was made from a previous 2min 8s video of fake covid19 “corpses”. I just attached the original fake to the end of the faked fake.’

      2. I’m rooting for $300. It just seems like a good round number, and maybe Brandon will be run out on a rail by that point.

        In other news, the economic terrorist Jerome Powell announced a chintzy 1/4 point rate hike, and said he’s going to be extra cautious even though inflation is the highest in more than 40 years. a 1/4 point hike with inflation running at 7.5% officially, and 15% by the old measure that Jimmy Carter’s admin used. These guys are intentionally destroying the dollar and the country.

        1. I remember saying to somebody a couple years ago, I had no idea that so many virus experts posted on my blog! Now I got all these people that know what ukranistan “wants.” I’ve seen videos to the contrary BTW. I don’t claim to be able to find this sh$thole country on a map, much less know what people there think. But I do know that BS is waste deep and all on one side.

          1. Construction experts, legal scholars, virologists, immunologists, oil field development guys, drilling outfit owners, CEO’s, etc. You got them all here buddy. Just raise a topic and voila….. the first and last word on the topic appears like magic….directly from a cube dwelling keyboard tapper.

            Sacramento, CA Housing Prices Crater 21% YOY As Single Family Vacancy Rate Soars Across Sacramento County

            https://www.movoto.com/ca/95816/market-trends/

          2. Be that as it may, Ukrainians are clearly putting up a fight. If Putin’s generals assured him this would be a cakewalk, like the neocon scum told “W” the Iraq invasion & occupation would be, scenes like this indicate otherwise.

            Charred remains of Putin’s tanks lie smouldering in the street in extraordinary images after convoy was blown to pieces by Ukrainian resistance near Kyiv as Russian troop death toll ‘climbs to 5,840’

            https://www.dailymail.co.uk/news/article-10569027/Charred-remains-Putins-tanks-lie-smouldering-street-Russian-death-toll-climbs.html

          3. Be that as it may

            Be careful drinking deeply from the MSM. So many lies have been published as truth.

        2. Isn’t the DailyMail kind of like if the Huffington Post and the Washington Post had a baby? Not a good place to get your news, unless you are a globalist soyboi cvck.

          1. No it’s actually fairly conservative. Read the comments. They all loathe the fake President.

        3. If you would like a reality check on your MSM propaganda you might try doing a search on “Grozny war pictures”. You will be treated to some shocking images of what happens when the Russians camp out on your doorstep. You might also discover that it happened not too long ago and that most people didn’t care because the MSM neglected to get people outraged about that one.

          They had a lot less money etc back then and spent a year flattening that city. The reality is, they aren’t even fully on scene yet let alone set up for it this time. The MSM narrative would be comical if it wasn’t so dangerous.

        4. “Most Ukrainians do not want to live under Moscow’s rule, and I don’t blame them.”

          Indeed. Stalin’s terror famine, the Holodomor, is a stark reminder of Russia lording over Ukraine.

        5. If 5 days equals debacle how would you define Afghanistan and 20 years?

          War doesn’t move at Twitter’s pace.

    4. I forced myself to watch the SOTU in its entirety. It was ghastly. He completely failed to address any issues of substance to the heritage Americans who have been so marginalized and disdained by his overreaching administration. The Democrat-Bolsheviks cheered and clapped like the North Korean Politburo during a Kim Jun-Un speech, even though he was spouting nonsense. He’s counting on the Fed to fight inflation? Who do you think has been the #1 cause of inflation with its 14 years of “emergency measures,” you senile Bolshevik fraud?

      1. What drug did you have to take to watch that lying fraud? I’m being serious now brother.

          2. I actually like going to the office, so it makes little difference to me. And most agencies have a telework program where employees can work 2-3 days/wk at home. But that didn’t stop employees from using the pandemic — oh oh I’m so scared, I need management to keep me safe — to try to leverage for full-time work at home. They all wanted to buy a mansion in a cheaper area and get the same juicy DC-area pay. Now it seems like a no-go. The attitude is: “2-3 /wk at home, sure. But don’t go too far.”

  2. Lake Havasu and Prescott, Arizona

    I’m seeing new shacks in Kingman asking over 700k pesos now. Anyhoo, looks like corelogic is on the bus and you know what that means.

  3. There’s no more vivid image of San Francisco’s inequality: thousands sleep on the streets each night, while thousands of luxury condos sit empty above them.

    Just let them in you NIMBY aholes

    1. Compassion, Inc. means Libtards put their principles into practice using taxpayer dollars to fund Democrat-Bolshevik patronage & graft rackets. Forward, Soviet!

  4. ‘concerned how higher debt payments will affect his already stretched budget. ‘Your hydro is going up, your water bills are going up, your taxation is going up, so it just compounds everything. It’s just — it’s like the straw that broke the camel’s back’

    Roy rings in the back breaking straw!

    ‘If it is the start of a series of increases, that’s where it becomes a problem…You could be in for a big shock to your monthly budget’

    It’s always a series Doug. At the end he says low rates ‘aren’t needed’ anymore.

    1. his $150,000 variable-rate home equity line of credit. Graham, a 66-year-old retired emergency response worker

      Is there a how-to out there for these idiots titled “How to Retire Early on a Line of Credit”? Anyway Graham, in this case it’s a Donkey’s back.

    2. Your hydro is going up

      Whoa, whoa, whoa! Isn’t “hydro” supposed to be clean, cheap, green, renewable energy? Why is it going up? Are reservoirs in Ontario going dry?

      1. “hydro”

        Translation: Canadian Electricity or Electric bill. By no means implies hydroelectric.

      2. there are real capital and operational costs – depending on how you characterize items.

        There are carbon taxes, and the big one is pension and anticipated pension payments. Especially in Ontario, Quebec, they have hidden the pension costs from the tax paying citizens – and are charging it in the bills.

        The amount of (actual transmission) line workers and nuclear power workers and engineers with a pension north of $80K is mind boggling. And this is after just 25 years on the job.

  5. ‘It’s yet another tale of NFT hype gone hilariously awry. What was promised to be a beautifully-designed, Pokémon-inspired NFT project called Pixelmon turned out to be a huge mess of irredeemably ugly pixel art — and investors are now furious.
    The part-game, part-NFT project promised to allow buyers to “train, trade, fight and evolve your Pixelmon” in the Metaverse.’

    ‘According to the project’s lead, who goes by the username “Syber,” the project raised $70 million worth of Ethereum on the NFT marketplace OpenSea, while teasing tastefully-designed characters.’

    ‘When the actual NFT art was revealed late this month, however, investors began to immediately express buyers’ remorse. “I think it’s fair to say all the buyers were rugged,” one Twitter user argued, referring to an increasingly common maneuver in which crypto developers unexpectedly abandon their projects and run with the money. “Stop supporting cash grab NFT projects.”

    https://futurism.com/the-byte/pixelmon-nft-scam

    1. Such speculative malinvestment is only possible in a world awash with Yellen Bux funny money. Got gold?

  7. Now, this progressive rallying cry has led to a concrete policy proposal, as a signature-gathering effort gets underway to put an ’empty homes tax’ on the November ballot.

    It’s about time the speculator scum who have priced houses out of reach for millions get slapped with punitive taxes. Not that this will help the homeless, most of whom have substance abuse issues, but it can definitely free up more housing for creditworthy renters. This should be a “progressive” issue: it should be a 99% vs. the oligarchy issue.

      1. Having to sit through that rambling nonsensical drivel would drive anyone to drink. The thought that the Unholy Trinity of Dementia Joe, Cackling Kamala, and corrupt Booze hag Nancy Pelosi are at the apex of the our political “leadership” made me want to run screaming into the night. We are so f**ked.

        1. Stop being a bootch, Randy. WE run this country.

          Deplorable has given us all very good ideas for ways to consolidate our power.

          Stop kvetching and go DO something.

          I’m currently very protected by tenure, but every adult at school hates my ass, even though they’re too afraid to argue with me, though they remain unafraid of slandering me to students.

          You too can make them question the narrative, or at least see they lack the knowledge/thinking to defend it against the laws of nature, economics, human psychoevolution, the ideas of the enlightenment and history.

          Then again, I am up against teachers, so you probablyhave a harder row to hoe. I believe in you though, Boo.

          Go forth and conquer, my son.

  9. ‘People are in a panic,’ said Ingratta, who works with Mortgage Intelligence in Windsor, Ont.’ They’re thinking, ‘Oh my God, what is the interest rate going to go up to?’”

    In my comfy reasonably priced rental I’m trying to conjure up some vicarious panic just to show my solidarity with these poor distressed FBs, but I’m just not feeling it. Instead, I shall show my sympathy to their plight by eating popcorn.

    1. Should the occasion arise, console them that they’ll now be able to take some nice vacations with the interest they’ll be earning on their savings.

    2. Being maxed out on a variable rate mortgage when rates can only go up is financial suicide. But I’m sure it all made sense when the property was purchased.

      1. “…I’m sure it all made sense when the property was purchased…”

        But, but Suzanne said we can do this.

        Gonna have to cut back on the squirrel feeding…

  10. How many of your children and grandchildren have enlisted and shipped out to Ukraine?

    Answer the question, neolib / neocon armchair warriors.

    How many?

    2. I’m guessing the sons of Putin’s oligarch cronies are seriously underrepresented on the battlefield in Ukraine.

    3. Brandon needs to deploy the Tranny Brigade and other Rainbow Warriors to teach Vlad a lesson!

      1. “Brandon needs to deploy the Tranny Brigade and other Rainbow Warriors to teach Vlad a lesson!”

        Fighting soldiers from the sky
        Fearless men who jump and die
        Men who are not just what they say
        Their war paint comes from Mary Kay

        Big implants upon their chest
        They once were men, America’s best
        One hundred men we’ll test today
        But only three who say they’re gay

        Back at home a his husband waits
        His Green Beret has met his fate
        He has died for those oppressed
        No pronoun used at his request

        Put silver wings on my son’s dress
        Make him one of America’s best
        He’ll be a Trans they’ll test one day
        Have him win the Green Beret

        The Ballad Of The Green Berets
        https://youtu.be/BugBwt2ESpo

  11. Just when we think that common sense is coming back into the economy. With all the inflation (current and future) and other market risks, who the heck is dropping rates for 30yr fixed.

    Mortgage rates are sinking as markets contend with the ramifications of Russia’s attack on Ukraine, and that means home prices are likely to continue surging.

    The average rate on the popular 30-year fixed mortgage had risen close to a full percentage point from the start of this year up until last Friday, when it hit 4.18%, according to Mortgage News Daily. It then fell to 4.04% Monday and 3.9% on Tuesday. That is the largest two-day drop since March 2020, the start of the pandemic.

    This will give homebuyers more purchasing power as the historically busy spring season kicks off. It will also keep record high home prices continuing on their run higher. Prices in January were 19.1% higher year over year, according to a report released Tuesday by CoreLogic. That level of growth is the highest in 45 years, when CoreLogic began tracking prices.
    https://www.cnbc.com/2022/03/01/mortgage-rates-plunge-just-as-home-prices-set-another-record.html

    1. Shutdowns, War, Oil over $100, who cares. Just keep opening up and using debt.

      Ohhh … perhaps there is a new vegan, gluten free coffee flavor at the fancy new expresso bar

      From Financial Post
      Canadians are spending again, adding to their credit card and personal loan balances and opening new mortgages, bringing the credit market closer to pre-pandemic levels, according to a new report from TransUnion.

      The credit monitoring agency said its Credit Industry Indicator, a measure of consumer credit health based on demand, supply, behaviour and performance, increased 32 points year-on-year in the fourth quarter to 101.6. The indicator has not yet reached pre-pandemic levels, however, and is just shy of December 2019’s score of 105.7.

      The improving score reflects a return to spending by consumers, as well as increased supply of credit from lenders, TransUnion said.

      “Consumers are reverting to pre-pandemic credit behaviours and lenders are actively seeking growth opportunities,” said Matt Fabian, director of financial services research and consulting at TransUnion, in a release. “Lenders have some catching up to do after the pandemic disrupted volumes and balances, and consumer demand is picking up.”

      More people are opening new credit products, the report said, and balances on personal loans are up 9 per cent. People are also taking on more debt via their credit cards. Balances on those rose 4.2 per cent from the same time last year, TransUnion said. Credit card spending as a whole is up 20 per cent year on year.

      Meanwhile, the mortgage market has cooled since earlier in 2021, but it is still seeing sustained growth, the report said. High home prices and slim supply don’t appear to have deterred people from taking out new mortgages and Gen Z is leading the charge. Close to thirty per cent of young, first-time homebuyers in that demographic opened new mortgages in the third quarter of 2021. That compares to 10.9 per cent of millennials and 4.7 per cent of Gen X who jumped into the market.

      1. Canadians are spending borrowing again, adding to their credit card and personal loan balances and opening new mortgages

        We all know how this movie ends

        1. “Buying gas and groceries on the credit card. What could go wrong?”

          Imagine if they could buy housing on credit cards….Banker and relator’s wet dream.

          1. “…buy housing on credit cards….Banker and relator’s wet dream…”

            Credit cards with 18% interest.. What’s there not to like?

            But wait there’s more. That monthly credit card cash back will pay for your inflated groceries.. Its’ win-win.

    2. “who the heck is dropping rates for 30yr fixed. ”

      It’s comedy pure comedy. Soviets would have been so proud with this type of manipulation.

      On related note, I consumed a large amount of Pinto beans for dinner last night and passing a excessive amount of … I am closely monitoring what this will do to the mortgage rates.

  12. Something’s got to give. It’s going to get real for FBs who overpaid for shacks when they have to choose between covering their mortgage & putting food on the table. #FJB

    Wheat prices soar to highest since 2008 on potential Russia supply hit

    https://www.cnbc.com/2022/03/01/wheat-futures-reach-highest-levels-since-2008-as-russia-invasion-advances.html

    The price of wheat on Tuesday climbed to its highest levels in more than a decade, with traders concerned about global supply disruption as Russia’s invasion of Ukraine advanced.

    A convoy of Russian military vehicles is approaching Ukraine’s capital of Kyiv, satellite imagery taken Monday indicated.

    Wheat futures rose closed up 5.35% at 984 cents per bushel, at the highs of Tuesday’s session. That marks the highest price since April 4, 2008, when wheat traded as high as 985.5 cents per bushel.

  13. “If there are hundreds of units that are in those neighborhoods that are used as investment properties, it just doesn’t seem right to me.’”

    “Preston and co-sponsors Democratic Socialists of America San Francisco and Faith in Action Bay Area opted for an excise tax based on unit size and the duration of vacancy. ”

    From yesterday’s post, the allies in this fight against private property rights are the socialist cities of Austin and Santa Barbara. Today, it’s San Francisco and the “Democratic Socialists of America San Francisco”. If those are your allies, you’re on the wrong side. Period.

    Remember way way back about 10 years ago when gays “just wanted the right to get married”? Yeah me too. You think progressives will stop at banning/taxing into oblivion STRs and empty condos? In another 10 years they will be forcing you to house someone in your empty bedroom. Mark my words.

    1. When I’m deciding which crater to put in a post, I see signs in a variety of places. I’m not advocating or not a forum like lawmaking. I wanna see the 40,000 empty airboxes! angle. Right now this very minute, I’d bet there is a UHS telling someone there’s a shortage in SF.

      I have another one for tomorrow that talks about needles, etc. I’m not taking a position on how these sh$thole city’s bum arrangements. It’s just part of the story. And sometimes it cracks me up.

    2. In another 10 years they will be forcing you to house someone in your empty bedroom.

      Yep, and the usual suspects here will be fuming about speculator scum driving up couch surfing rentals and depriving people of bedrooms. They’ll probably get in a dig at millennials too.

      1. “a dig at millennials too”

        People born after the year 1990 shouldn’t be allowed to vote.

        “They’re not sending their best”

    3. In another 10 years they will be forcing you to house someone in your empty bedroom.

      10 years? They’re planting the seeds for that NOW:

      https://www.dailymail.co.uk/news/article-10491511/Homelessness-San-Francisco-bad-people-asked-homeless-person-spare-room.html

      You could also argue that the CDC already did precisely this during the pandemic, with their eviction moratoriums to house the deadbeats for free. There’s grounds for an Eminent Domain court case in that.

      1. You could also argue that the CDC already did precisely this during the pandemic, with their eviction moratoriums to house the deadbeats for free. There’s grounds for an Eminent Domain court case in that.
        Just 2 more “politically correct” justices and yes, it could then happen

  14. Latest from #ClownWorld

    As Russia Wages War, US Army Trains Officers on Gender Identity

    https://freebeacon.com/biden-administration/army-mandates-pronoun-training-for-all-levels-of-service/

    While Russia wages a full-scale invasion of Ukraine, the U.S. Army is putting its soldiers through training on gender pronouns and coaching officers on when to offer soldiers gender transition surgery, according to an official military presentation on the subject obtained by the Washington Free Beacon.

    The mandatory presentation, “Policy on the Military Service of Transgender Persons and Persons with Gender Dysphoria,” was given to officers earlier this month along with instructions for them to train their subordinates on the material. Portions of the presentation were provided to the Free Beacon by a whistleblower who was ordered to undergo the training as a high-ranking officer in the Army Special Forces.

      1. I had never seen that before. I laughed at this comment:

        Ivan: Cancels you with T14
        Zhang: Cancels you with ZTZ-96
        Emma: Cancels you on Twitter because you used the wrong pronouns

    1. Why did Comrade Pelosi get so giddy about Brandon’s mention of burn pits? ”

      That’s was creepy I think she even stood up for a moment

    1. You really make my point, cancel the degree cancel your debt…a fair exchange. Like throwing in the towel, you give up, without a valid degree you will never be able to apply for those jobs. So give people a second chance to work at strarbuxxxx debt-free.

      1. cancel the degree cancel your debt

        You leave out one thing. Who is supposed to pay the bill? “Them”?

        1. I really don’t think it’s going to be that many. Since if you give up your JD or DDS the best you can do is be a paralegal or a dental assistant… maybe some can accept a lower position lower pay and status, but then some won’t and will be stuck with the debt. There are far too many unions state licensing boards, certifications that must be valid to even apply for the job.

          1. There are far too many unions state licensing boards

            Once you are outside of healthcare, those are few and far between. Especially in Tech, few care about your pedigree, hence the rise of “boot camp schools”. Once you have experience, your degree is pretty much irrelevant.

          2. Once you have experience, your degree is pretty much irrelevant.

            To hiring managers, yes. To one’s ability to do the job (well), I’d disagree!

        2. You leave out one thing. Who is supposed to pay the bill? “Them”?

          Exactly, especially since most of those loans are Federal.

  17. I didn’t watch Biden and State of Union address, because I can’t stomach this treasonous Puppet who was the result of a rigged election.
    Seeing pictures of Nancy Pelosi being in a state of ecstasy behind Biden is just to much.
    How far have we fallen having these demented old corrupt traitors being in power. Just unbelievable.

    1. I watched him for the first time. I have never seen him speak since he was installed, but figured I’d do the old “keep your friends close, your enemies closer” sort of thing and see what this old pants-shitting fraudster was up to.

      He just stammered, screamed and barked his way through a really underwhelming speech. There was nothing substantial in there about inflation and the real problems Americans are facing from a quality of life perspective. He blamed rising prices on supply chains, like a good little globalist puppet does.

      Inflation has zero to do with supply chains, and everything to do with a rogue Federal Reserve and corrupt Congress. Never, ever should you have peak prosperity and disposable income right at the time everybody is sent home from work. This was the biggest bastardization of an economic model in history.

      If reasonable people were in charge, then reasonable measures would have been enacted to make sure people did not starve to death, etc., but never in a million years should they all have been given free money to buy new phones, cars, houses, etc. This country is finished, in my opinion. I don’t see a way back from the corruption.

        1. Right. He started with a bunch of Ukraine/globalist nonsense, which by the way no Americans really even care about. And it does not affect us in any material way. And notice that the FED is now citing the Ukraine situation as a way to welch on their rate hikes. They are defending asset bubble pricing (the wealth of the oligarchs) by any means possible.

      1. Even worse, his speechwriters did. They’re exploiting Joe’s very real pain, using it almost as a literary device. Despicable.

        1. IDK When he does this, it reminds me of a regular customer I had years ago. When funds were low, she’d start talking about her dead son; tragic, no doubt. It seemed calculated though – it got her sympathy and free drinks.

    1. “Dallas, TX Housing Prices Crater 19% On Surging Subprime Mortgage Defaults And Plunging Demand”

      When that first warm day hits jump in the convertible, put the top down and go for a cruise by the beach with some 80s crater music blasting.

      Not to mention if you watch the video the lead singer was pretty easy on the eyes.

      The Primitives – Crash
      https://youtu.be/1y7NGqfZteg

  19. Ok, so according to a book by Glenn Beck called THE GREAT RESET, the 2009 Bailout of fraud lenders was more like 30 trillion that was never paid back. .
    I always thought it was 10 trillion they got away with but apparently its more.. I don’t know how they get away with this .
    Apparently all kinds of money goes missing or isn’t accounted for. I have no idea how that is done.
    Also, interesting Glenn Beck is saying the Globalists aren’t really Communist. They are more like Fascist, but not even that because they want Corporate Governance that dictates to the Governments. They want to own everything , all resources, and Governments just carry out their dictates.
    I don’t really know what you would call that type of Dictorship . Stakeholders of the World Unite maybe.

      1. We are living under Fascism, to a tee:

        Fascism: a political philosophy, movement, or regime (such as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition

  20. a little OT but then again not….Mike Rowe The Crushing Certainty of Scientology Seven years ago, a documentary aired on HBO called “Going Clear – Scientology, and the Prison of Belief.

    https://mikerowe.com/2015/04/going-clear

    https://fb.watch/bvj4hW3ycE/

    Why do we stay when we know we should go? Like the frog in the boiling water, most people are capable of believing anything, a little bit at a time. And then one day, we look at the water bubbling up around us and wonder how it got so damn hot.

    1. You will live under an overpass and love it.

      They’re going to need a way to reserve space under them. Maybe an app: MyHooverville.

      1. You have no idea how bad the homeless problem is down in Dumver right now.

        Which is, of course, all by design, because: vote like California, become California.

        It’s the Progressive Way.

  22. ‘You would think a foreign princess is just buying them and storing her international capital there, but then you look at where they are… If there are hundreds of units that are in those neighborhoods that are used as investment properties, it just doesn’t seem right to me.’”

    Powell bux seeking a toe tag home…

    1. To be cut:

      151 teachers and “social workers”
      51 “top level managers”
      62 other staff members.

      Skools sure do have a lot of staff that don’t do any teaching whatsoever.

      And SFUSD has a budget of $1.2B, which is almost $22K per student.

      1. “…$22K per student….”

        Who voted for “No child left behind”..?

        Large fraction of HS students can’t even balance a checkbook.

        What a success.

        1. “Large fraction of HS students can’t even balance a checkbook.”

          “What a success.”

          Totally agree. These pukes make up my favorite customer base.

  26. https://dailyexpose.uk/2022/03/01/russia-distraction-uk-gov-revealed-triple-vaccinated-account-9-in-10-covid-deaths/

    The latest data published by the UK Health Security Agency confirms deaths are rising dramatically among the triple vaccinated population whilst declining steadily among the not-vaccinated population in England.

    With the most recent figures showing the fully vaccinated accounted for 9 in every 10 Covid-19 deaths over the past month; and the triple vaccinated accounted for 4 in every 5 of them.

    2. Oh lookie, it’s another one of those data-twist articles! Would you care to normalize your comparison figures to a rate per 100,000 total population vaxxed vs unvaxxed? Of course not. How about breaking those rates down by age group, so that we’re not comparing young healthy unvaxxed to old unhealthy vaxxed? Um yeah didn’t do that either. Can’t interrupt that narrative now can we.

      The original article DID normalize the deaths to population, and also broke down deaths down by age group. Unvaxxed are still dying at much higher rates than the vaxxed. Even in the 80+ group, the unvaxxed are dying twice as much as the vaxxed. Patients are dying because they are OLD, not because they are vaccinated. This data, along with underlying biases, are all clearly laid out in Table 13, which your article conveniently ignores.

      1. “Unvaxxed are still dying at much higher rates than the vaxxed.”

        Wrong. Table 13 only has two categories: Vaccinated with at least 3 doses or unvaccinated. You don’t know how many people who only took one shot are being lumped in with the unvaccinated. The UK is about 75% vaccinated yet number of vaccinated deaths are more than 3 times the amount of nonvaccinated deaths. As a matter of fact, for the week being discussed there were around 16 times more vaccinated deaths than unvaccinated deaths.

        Sorry, but the future doesn’t look too bright for the vaccinated.

        1. “yet number of vaccinated deaths are more than 3 times the amount of nonvaccinated deaths.”

          Not sure where you’re getting this. I see ~250 deaths 3-dose vax and 625 deaths no-dose unvax, normalized per 100K of vaxed or unvaxed population. That’s 2.5x death for the unvaxed. Since they made a point of reporting data for 1- or 2 doses in other tables, I’m pretty sure they wouldn’t lump in 1- or 2-dose into Table 13 without saying so. Finally, since the vaxxed tend to be older, their future isn’t looking too bright anyway.

          1. I was double counting all the catergories of vaccinated so the vaccinated deaths for the week were not 16 times higher but instead around 8 times higher. It is still significantly more than the 3 times higher amount you would expect from normalization.

            “In all, there were 4,861 Covid-19 deaths between 24th Jan and 20th Feb 22, and the triple vaccinated population accounted for 3,120 of them. Whilst the not-vaccinated population accounted for just 559.”

          2. You’re still comparing the young and healthy, who are more likely to be unvaxed, to the older and sicker, who were highly encouraged to be triple vaxed. The paper clearly states this as a known bias.

  28. Today is Wednesday, March 2nd and Joe Biden is not the legitimately elected president of the United States.

    The 2020 election was stolen.

    P.S. Globalists, GFY 🙂

  30. From 9News: Dumver MD predicts Covid will come roaring back as the unjabbed’s natural immunity will expire after 2-3 months, or so says Dr. Ricardo Gonzalez-Fisher of Servicios de la Raza.

    Just wait, by summer we will be told that getting a second booster is imperative if we want to keep the big, bad covid from returning.

    1. unjabbed’s natural immunity will expire after 2-3 months, or so says Dr. Ricardo Gonzalez-Fisher of Servicios de la Raza.
      According to Dr. Campbell and other Dr’s, mostly MD’s, on YT, natural immunity is longer lasting than the vaccines.
      I have no idea what the right answer is.

    2. getting a second booster is imperative

      The “vaccine” and its boosters are for what was going around two years ago and shouldn’t by any stretch of the imagination “work” against what’s going around today, much less tomorrow.

      It looks like a cold. The CDC has said their test is for the common cold. The cold has been around for ever and is always shape shifting to get around “natural immunity”. Natural immunity means you got it and got over it. If you already know then that it won’t kill you, exactly what do you have to be afraid of?

      1. “what was going around two years ago”

        That particular reason will go out the window next month, when Pfizer’s Omicron-specific vaccine comes out. They’re going to push the heck out of it.

  31. The biggest loser in this concerted Western attack on Russia will be the USD. China will help that along.

          1. The sooner we can get rid of the banker scvm destroying the US, the better. These people have a stranglehold on the economy.

          2. China, Russia and India could create their own separate economic system. Earlier this week before Congress, Powell mentioned the possibility of more than one reserve currency.

          2. My understanding is that our ability to print money and sell the debt via bonds relies on our reserve currency status. Please correct me if I’m wrong. Until recently, I haven’t cared about geopolitics and history and I’m playing a bit of catch up.

  33. When the electrical outlets in your house start going off like bubble wrap popping it means something’s gone wrong. Busted wire nut and why use the GND for a neutral oh because the neutral is broken in the wall.

    One outlet down. I’m not running neutral back through a bare gnd wire in a Romex cable. Now if I was renting the house….

    1. We had one pop and the other start a good sized fire. I guess that’s why the LL only raised our rent $200.

  34. “The number of homes on the market in San Francisco, net of all new sales, either pending or closed, climbed another 8 percent over the past week to 850, representing an 85 percent increase in inventory since the start of the year, which is an even bigger, not smaller, increase in inventory than historic seasonality alone would predict.”

    Dumb question of the day: If San Francisco homes are so valuable and scarce that only super wealthy people can afford them, why do the city leaders maintain their community as a filthy homeless encampment?

    1. Today is Thursday, March 3rd and Joe Biden is not the legitimately elected president of the United States.

      The 2020 election was stolen.

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