thehousingbubble@gmail.com
Blog

Central Bankers Are Firemen Who’ve Arrived Late To An Inflation Fire

A weekend topic starting with Yahoo Finance. “The Federal Reserve’s top figure said Thursday that the central bank should have acted sooner to pull back on its pandemic-era stimulus and get ahead of rising inflation. Fed Chairman Jerome Powell told the Senate Banking Committee that with prices increasing at the fastest clip since 1982, easy money policies from the Fed — combined with longer-than-expected supply chain snags — appear to be behind inflation. ‘Hindsight says we should have moved earlier,’ Powell said, adding that ‘we’re going to use our tools and we’re going to get this done.'”

From Bloomberg. “Finding a home to buy is only the first struggle. Then there’s paying the mortgage. That’s become increasingly challenging, with the average American monthly mortgage payment rising to the highest level ever. It’s now $1,230 per month for a 30-year, fixed-rate loan, according to Zillow. That’s up 36% from the average of $905 a year ago and a 6% increase from January.”

“In the past year, the typical U.S. home increased almost 20% in value, from about $272,000 to $326,000. Although mortgage rates only inched higher for most of 2021, that uptick combined with rapid home-price appreciation to push the average monthly mortgage payment to a record high.”

“That estimate assumes the homebuyer is making a 20% down payment on their house, and taking out a mortgage for the remainder. But in fact, almost 60% of buyers last year who purchased their home using a mortgage put down less than that, according to Zillow data.”

The Sacramento Bee in California. “‘I think the big issue is that rates have increased and buyers have rushed to the market,’ said Ryan Lundquist, certified residential appraiser. ‘There’s a fear of missing out vibe that’s clearly taking place at the present moment.’ Interest rates on mortgages have changed significantly in the last six months rising from 3% last year to more than 4%. ‘Our market is very sensitive to rate changes, there is a reaction in the market when rates rise,’ Lundquist said.”

“When will the market finally slow down? It’ll take time to tell, Lundquist said, pointing to 2018 where interest rates near 5% caused the housing market to slow significantly. ‘It’s not something that’s sustainable forever,’ he said. ‘I think it’s a good thing for rates to rise to get us out of this mess.'”

The Globe and Mail. “The first of multiple rate hikes from the Bank of Canada is in the books and banks have already boosted their prime lending rates by 25 basis points to 2.7 per cent. Now borrowers all want to know the same thing – where does this end?  Canada, and the world, is in largely uncharted territory. Not even our central bank knows how high prime rate could go, as its off-base forecasts clearly demonstrate. Expectations of a slowing future economy don’t necessarily imply a mild rate-hike cycle. Inflation is ‘nothing like we have had in decades,’ U.S. Federal Reserve chair Jerome Powell said Wednesday.”

“I like to say our central bankers are firemen who’ve arrived late to an inflation fire. After the 1973 oil shock, central banks also took too long to tighten monetary policy. Inflation hit double-digits and the prime rate just about doubled. The 1970s were a different era with far less consumer leverage (among other things), but while history may not repeat this time, it could rhyme. The Fed’s Mr. Powell reminded US Congress on Wednesday, ‘the economy evolves in unexpected ways.'”

The Financial Post. “More aggressive moves by the country’s central bank could put a halt to the housing fever. ‘If (the Bank of Canada) hikes are anywhere near the 175+ bps that’s priced in, the housing market’s going to hit a brick wall,’ said mortgage expert Rob McLister. ‘I suspect that kind of move would take at least 18 months, if it happened.'”

From Better Dwelling. “Real estate investors were cautioned that risk happens fast, from Canada’s oldest bank. BMO Capital Markets warned clients to expect the housing market to ‘be tested.’ Higher interest rates and the end of ‘too loose’ policy are expected to cool price growth. In frothy real estate markets, sentiment can shift very fast when prices slow, and the FOMO fades. If that’s the case this time, expect fewer buyers and more inventory.”

“In February, a typical home (aka the benchmark price) saw 35.9% annual growth. BMO also cites Vancouver and Calgary as additional examples of price growth acceleration. This is on top of already lofty gains seen for the past two years. ‘On an annualized basis, price growth is running at around a 50% rate more recently,’ says Kavcic. ‘As shown in 2017, psychology can change quickly the minute price expectations change.'”

“For those unaware of BMO’s reference to 2017, it was the last time interest rates began to take off. With the help of other policy tools, tight markets like Toronto and Vancouver saw prices drop. All of a sudden, inventory started to appear. Lofty immigration targets used to justify rapid price growth didn’t matter. That is until 2019, when the mortgage market got a little stimulus and went on roids in 2020.”

The Daily Mail. “House prices in Australia’s biggest city could fall a staggering $200,000 by the end of next year, the Commonwealth Bank fears. The Commonwealth Bank, Australia’s biggest home lender, is now predicting a house price drop starting this year in both Sydney and Melbourne, where auction clearance rates have peaked. RateCity research director Sally Tindall said house price growth in Australia’s two biggest cities was already slowing. ‘This could be the beginning of the end for the current property price peak in Australia’s two biggest cities,’ she said.”

“Reserve Bank Governor Philip Lowe had repeatedly promised to keep rates on hold until 2024 ‘at the earliest’ but now the Commonwealth Bank is forecasting a rate rise in June 2022 as wages growth, now at 2.3 per cent, accelerates to 3 per cent. The Commonwealth Bank is also expecting the cash rate to climb to 1.25 per cent by the end of March 2023.”

“‘Rising interest rates will generate changes in behaviour, which in turn will impact economic outcomes,’ said Commonwealth Bank head of Australian economics Gareth Aird. ‘For context, we estimate there are over one million home borrowers who have never experienced an increase in mortgage rates.'”

From Stuff New Zealand. “A buyer-seller standoff has led to monthly property sales in January slumping to the lowest since the fallout of the global financial crisis, CoreLogic head of research Nick Goodall says. There were 4113 residential property sales in the first month of the year, the lowest number in over a decade. He put the slump down to New Zealand being in a ‘transition market,’ where sellers still expected record prices, and buyers either refused or were unable to pay them.”

“A combination of a glut of properties on the market, worsening economic conditions, and a squeeze on home loans reducing the buyer pool was likely to result in buyers winning the standoff, Goodall said. Real Estate Institute (Reinz) figures back up CoreLogic’s findings, with residential property sales dropping by nearly a third in January.”

“Reinz chief executive Jen Baird said Kiwis got used to the market being a certain way, but the industry had experienced a pace change in the past two months. Real estate agents were having to talk to sellers about how the demand-supply situation had changed, as well as about the difficulties buyers were facing getting home loans.”

Related Posts

Everything Is Falling

A report from KRDO in Colorado. "According to a broker associate at Re/Max of Pueblo…

This Post Has 139 Comments

  1. ‘saw 35.9% annual growth. BMO also cites Vancouver and Calgary as additional examples of price growth acceleration. This is on top of already lofty gains seen for the past two years. ‘On an annualized basis, price growth is running at around a 50% rate more recently’

    This is bat sh$t crazy and they all know it. BTW, I think this guys first name is Robert but it’s not in the article that I could find.

    1. [I am temporarily staying in Toronto]
      I can confirm that on the ground, the housing market is batsh$t crazy. Detached housing averages are approaching $2M in many ‘working class’ neighbourhoods. And the condos are literally going up $20K/month in the downtown core.

      Obviously this cannot last and there will be significant pain at some point. But the only thing is unpredictable is the psychology of the buyers who are firmly in the overstretch and buy camp. I go to the local gym – and REIC talk is everywhere and a bunch of the customers even advertise on the commercials at the gym.

      The city right now is all about real estate

      1. “And the condos are literally going up $20K/month”

        What’s the point of working, right?

        1. No kidding! Why not just borrow on maximum leverage to “own” ten condos, and let them do the work for you?

        3. What’s the point of working

          We are in a guaranteed recession with the cost of borrowing going up. It would be a shame if any condo speculators found prices and rents falling with the cost of money rising.

          Enjoy.

    2. This is bat sh$t crazy and they all know it.

      This is money laundering on a scale never before seen, and the money is what central banks, including China, printed right into the pockets of the already obscenely wealthy, who are exchanging it for hard assets before the fiat currencies crumble. The working people of the world got sold out by corrupt pols and bankers. Get some rope.

  2. ‘Hindsight says we should have moved earlier,’ Powell said, adding that ‘we’re going to use our tools and we’re going to get this done’

    ‘Ima gonna break it off in the shack gamblers a$$e$.’

    1. “‘Hindsight says we should have moved earlier,’ Powell said, adding that ‘we’re going to use our tools and we’re going to get this done’”

      Ha ha…If they really cared about inflation, they would have raise to measly 1% by long time ago. They are sweating bullets even with the thought of 0.25% increase. They know very well the house of card they propped up last 13 years can’t withstand any raise in interest rate. This chicken is cooked.

      1. “They are sweating bullets even with the thought of 0.25% increase. They know very well the house of card they propped up last 13 years can’t withstand any raise in interest rate.”

        I agree completely, and now they have a perfect scapegoat in Putin. Bring on the bankruptcies and downgrade those retirement plans.

      2. It looks to me like the Wall Street-Federal Reserve Looting Syndicate is setting up the next Great Muppet Reaping. Fed-engineered boom/bust cycles have been the financier oligarchy’s most efficacious means of looting & asset-stripping what remains of the middle class.

      3. The small bags of frozen shrimp I buy just went up by another dollar. Up ~50% in the last about the last 18 months.

        Meanwhile JP Morgan And G Sachs are feasting on Russian assets at fire sale prices. Just like every other crisis in recent times at the end of this one we will find the average person’s standard of living has been significantly eroded and the top 0.1% have again doubled their net worth. Maybe we should view war in the same way its orchestrators do, as an investment opportunity.

      4. They are sweating bullets even with the thought of 0.25% increase.

        These guys are not sweating bullets in the least. They are as wealthy as ever and they love it. They were day trading – front running Wall St. – on their own future policies.

        They put on a great song and dance in public, while privately toasting each other from the comforts of their multi-million dollar estate compounds with full security details.

    2. ‘Hindsight says we should have moved earlier,’ Powell said, adding that ‘we’re going to use our tools and we’re going to get this done’

      This guy is full of sh!t, IMO. He stood up there for 18 months, in the face of massive price increases, and boldly proclaimed he was “going to let inflation run hot for a while.” This is nothing more than a little CYA from this economic terrorist. This was all intentional. There are no accidents or missteps by these banker filth, only methodical moves. Look at how they spend months arguing over a teeny-tiny quarter point – whether or not they should raise 1/4 or 1/2 – while the world burns. They would need to raise 10% tomorrow just to get ahead of inflation.

  3. ‘For those unaware of BMO’s reference to 2017, it was the last time interest rates began to take off. With the help of other policy tools, tight markets like Toronto and Vancouver saw prices drop. All of a sudden, inventory started to appear. Lofty immigration targets used to justify rapid price growth didn’t matter’

    This is a bit over-simplified. What happened also was Vancouver had a parabolic blow-out spring in 2016 (up around 30%!), followed by an immediate crater. Classic mania behavior. Toronto did the exact same thing the next year.

    ‘Reinz) figures back up CoreLogic’s findings, with residential property sales dropping by nearly a third in January’

    And what happened along the way? Something like 30% more shacks have flooded the for sale market. It was just months ago NZ UHS were babbling about shortages.

    ‘Baird said Kiwis got used to the market being a certain way, but the industry had experienced a pace change in the past two months. Real estate agents were having to talk to sellers about how the demand-supply situation had changed, as well as about the difficulties buyers were facing getting home loans’

    Hi Bob, so how bad do you want out of this loan?

    Bob: Ima not gonna give it away!

    Yer fooked then Bob.

  5. ‘that uptick combined with rapid home-price appreciation to push the average monthly mortgage payment to a record high’

    Gosh, the highest prices evah, the highest payments evah, and near a 5,000 year low in interest rates. What could go wrong?

    ‘in fact, almost 60% of buyers last year who purchased their home using a mortgage put down less than (20%)’

    AKA subprime.

    1. “‘in fact, almost 60% of buyers last year who purchased their home using a mortgage put down less than (20%)’”

      Less than (20%) still gives a nice ring to it. It implies “oh may be they put 13% or 15%.” The reality is much worse than that.

  6. Russia is winning.

    And any alleged “American” who supports Ukraine has divided loyalties to foreign nations and non-governmental organizations, and is not really American. I’m a U.S. citizen, I’m not a citizen of the World Economic Forum.

    1. I am not sure who’s winning or who will win. Or as a matter fact, what does it mean by ‘winning?’ One thing is clear though, Ukraine as we knew after the Soviets will cease to exist after this war. MIC is emboldened and more of your tax dollars will be spent ‘fight’ the bad puti-man. Since puti-man is white and represents a country full of whites, the leftists in this country will go along with this new cold war.

      2. “I am not sure who’s winning or who will win.”

        Members of The Big Club are the ones who are winning and will win.

        1. ^^This.

          All of the theater is nothing more than the world’s billionaires playing games with each other, trying to get a financial leg up on the next guy. It’s ALL about money.

      3. Is it really about winning a war, or more about extermination of a civilian population? Genocide has no winner…everyone loses.

        1. Mass murder has been ongoing for two years. We know who did it, is doing it, and what the penalty will be.

      3. For a guy who couldn’t fight his way out of a pile of saw dust, Lindsey Graham sure talks tough.

    3. Yesterday I saw a Ukraine flag hanging side be side with an American flag hanging from a balcony facing the 470 highway here in Colorado. Today I saw a car with a Ukraine flag in the rear windshield.

      “If a wider war breaks out in Europe, should the U.S. military be involved?”

      All Voters – Yes – 49%

      – Yes by Income –
      Under $30K: 37%
      $30-50K: 48%
      $50-100K: 51%
      $100-200K: 52%
      Over $200K: 66%

      https://twitter.com/Rasmussen_Poll/status/1498778759893327872

      All you are to these globalists, all you’ll ever be, are dumb cattle. That’s what they think of you, you are livestock, to be fed into the globalist war machine meat grinder, paid for with borrowed money the United States doesn’t have (last I check the national debt just topped $30 trillion).

      You can’t be a globalist and an American.

      Every globalist needs to DIE 🙂

      1. Supporting Ukraine, the new virtue signaling replacing the “Got my Fauci ouchie” on TikTok.

      2. Over $200K: 66%

        I’m sure they are expecting the deplorables to bleed and die in those wars.

        The funny thing is, an incoming nuke doesn’t discriminate based on a neighborhood’s demographics. It’s very equal opportunity.

        1. >>”Over $200K: 66%”

          “I’m sure they are expecting the deplorables to bleed and die in those wars.”

          Back in the days of the draft the upper middle class used to really sweat if their sons were not smart enough to last in college leading to revocation of the deferment.

      1. We don’t have to like Putin to be pissed off that we’re being lied to by our government and our mainstream media. It’s your right to be ignorant of what is in the background.

        1. It’s your right to be ignorant

          His condescension is unnecessary and tiresome.

          1. As a professor, his ideas roam free and unchallenged bc of tenure and kids who know where their bread is buttered. He condescends because outside his discipline, he knows he doesn’t know sh*t from Shinola, unless he really is like most profs who fall in love their own ideas bc they’re paid to do just that.

  8. ‘Hindsight says we should have moved earlier,’ Powell said, adding that ‘we’re going to use our tools and we’re going to get this done.’”

    Blah blah blah. The Fed has only one “tool”: creating fake money out of thin air. Got gold?

  9. ‘There’s a fear of missing out vibe that’s clearly taking place at the present moment.’

    Gosh, I sure hope that no fools who rushed in to buy an insanely overpriced shack don’t have buyers’ remorse once the Fed’s Everything Bubble bursts and real estate prices are tumbling.

    1. The vaccine is safe and effective. CNN-anointed public health expert St. Greta, may her countenance shine upon us, assures her flock of this.

      1. Someone will have to build a temple with stained glass windows of St. Greta, St. Floyd, and Black Jeebus (Obama).

          1. A local Methodist church replaced a stained glass window featuring Robert E. Lee (along with Lincoln and Washington) with a new one featuring a black female Methodist bishop no one has ever heard of. I wish I were joking, but alas, they really did that.

          2. I guess the United Methodist Church is canonizing “saints” these days, unless of course this “bishop” is still alive.

            I wonder what their version of the Kyrie is like? Actually, it’s probably best to not think about that.

  11. Financial difficulties are in the minds of many. But they still dont mention drastically reducing spending …. more avocado toast all around

    Part II of Bromwich+Smith’s Perfect Storm survey asked, “what actions would (you) take in order to find relief from financial difficulty?” 39 per cent of respondents said they would take out a loan/new line of credit from a bank or other financial institution. This was followed by selling investments/financial assets (33%) and borrowing from family or friend (27%).

    1. But they still dont mention drastically reducing spending

      But I need the Tesla, the Disney timeshare, the boat, the motorcycles, the RV, eating at expensive restaurants, etc. I can’t give those up! Everyone would know that I’m a loser if did!

      1. One of the easiest ways to save money is by handling some of your own car repairs. But that requires competence and a small investment in tools, which eliminates almost all single wah-mens and 90% of males under 50.

        2. I do all of the preventative maintenance on our vehicles, and I’ve trained my son along the way; he’s really competent. I’ve managed to get my wife and daughter to pump on the brake pedal and hold it down until I have the bleeder closed; the brake fluid gets purged every Spring at our household.

          1. My 35 year old granddaughter has been doing her own oil changes on her car for the last 8 years. She recently did a brake job in our garage with my help.

        3. It doesn’t even require competence anymore, all you need is youtube and some shade. Lots of wrenching was being done during lockdown. I would wager that there has been a significant increase in people doing repairs including females. There are lots of very successful car repair channels on youtube even some by women. You’d be surprised how fast a determined woman can have a car diagnosed on her phone before you even have the hood open. The good ones are like phone ninjas.

          1. For instance, Redpilled Redhead probably has her phone out and is suggesting 3 different things for her man to check before he even has the car pulled over and then he has to jump out quick before she launches into a 30 minute discussion of why he should have chosen a different powertrain and why she would never buy a __________.

          2. Redpilled Redhead probably

            I’m not a henpecking wife. My husband and I have complementary domains and function fairly independently in them. One of his strongest domains is cars.

          3. I’m more the husband and he’s more the wife in the stereotypical husband/wife dynamic. As for parenting, we’re stereotypical mother and father.

          4. I’m more the husband and he’s more the wife

            Believe me it shines through. 🤣

            I know nothing about cars and I’m not ashamed to admit it.

          5. You do what you can with what you bring. Cheers to you for having a partner. Playing mother and father is no cakewalk.

          6. Playing mother and father is no cakewalk.

            Now that I’m meeting a lot more parents (mostly moms) with special needs kids, it’s amazing how many of them are no longer married to the other parent.

  12. “That’s become increasingly challenging, with the average American monthly mortgage payment rising to the highest level ever. It’s now $1,230 per month for a 30-year, fixed-rate loan, according to Zillow. That’s up 36% from the average of $905 a year ago and a 6% increase from January.”

    Housing is definitely on fire!

    1. Sounds like a lot of people have been refinancing with cash outs. Or they had to refi after being in forbearance for far too long. Either is a sure sign that the end is near.

    2. Sorry – This makes no sense in a normal world.

      How can the monthly payment be up 36% in a year. There are folks 2,3,4,5 … 10,11 years into their mortgage.
      Unless average has a brand new meaning …

      1. As I mentioned above, a lot of people might be “cashing out” their equity to buy things.

        1. I get that some cash out is having an impact …. But i cannot comprehend how it can be that high that avg monthly payments went up 36% in a year. Unless there really are many people just doing regular cashouts.

          Watching going forward …

          1. Hard to say, though I recall that before the previous crash something like half of all new cars sold were financed with home equity.

  13. I follow Ryan Lundquist but I’m tired of him. You’d think for an appraiser, when people started skipping inspections it would throw up a big red flag. I don’t know, maybe appraisers have a chip on their shoulders compared with inspectors. But inspectors are the one up to their torsos in the filth and disrepair of these stonks.

  14. The data doesn’t matter to them. Plizer has announced that they can produce their fake vaccines for every variant in 100 days.
    So, it sounds like they will keep the injections going , with no Agency concerned with safety stopping them. .
    The evidence shows this gene altering unacceptable technology they call vaccines, er was not fit for human consumption or perfected. in any way. The Fauci Ebola failure drug has over a 50 % kill rate.
    So, they are just full speed ahead with more of the same of this poison expierment .
    No longer are the Government agencies like FDA protecting the Public from products produced from criminal Pharmaceutical Companies that owned the news and are the biggest lobbyists in Washington DC.
    So, no choice but a Public rejection of this situation, that they aren’t going to put on TV.
    Apparently because they have immunity on vaccines, they think they can fake Pandemics or unleash bioweapons to justify mass vaccination of the globe.
    This is truly the most evil assault on humanity that I have ever witnessed, and the people behind it need to be arrested and get the rope.

    1. So, it sounds like they will keep the injections going , with no Agency concerned with safety stopping them.

      Don’t let the current calm lull you into thinking it’s over. When the next, mostly harmless, variant appears they will be screaming like banshees about why everyone needs to get jabbed. And if they have managed to pack the SC by then, expect jab mandates to return with a vengeance.

      1. I don’t think so. They have surrendered. Using flimsy distractions isn’t going to fly. All of our constitutional and human rights have been grossly violated. I expect them to continue to pose as protectors/victims and act like tyrants, but enough people see them for what they are and are no longer in fear.

      2. I haven’t seen this guy come up on here before but he is well worth a view to better understand the ‘variants’. A former Pfizer employee with solid credentials to speak on the matter. He claims a variant is only .03% different. IIRC he said Sars was about 20% different and they tested immunities from people who had Sars and they lit up for covid meaning they were still good. Anyway, he calls them same-iants because they differ so little. He is adamant that the entire charade is b.s. He deserves more interest than he gets so here it is:

        https://www.bitchute.com/video/qoi2qSnhayYH/

        Sorry for off topic link but it’s good weekend material. I came across him quite a while ago but it seems relevant for the comments above.

        1. this guy

          Yes, Mike Yeadon is a familiar face. He’s just not as prolific as some of the other guys.

    1. Market Snapshot
      U.S. stocks end lower Friday, Dow drops for fourth straight week as Russia-Ukraine conflict sparks nuclear fears
      Published: March 4, 2022 at 6:26 p.m. ET
      By Christine Idzelis
      Commodity prices soared as sanctions on Russia threatened to cause supply disruptions in oil, natural gas, industrial metals and grains

      https://www.marketwatch.com/story/u-s-stocks-end-lower-friday-dow-drops-for-fourth-straight-week-as-russia-ukraine-conflict-sparks-nuclear-fears-11646436393

      1. If Vlad closes the spigot, Europe will be totally fooked, and they know it. What is amazing is that they are doing nothing to break free from that dependence, and neither are we.

        1. “If Vlad closes the spigot, Europe will be totally fooked…”

          FWIW, they both need the oil and natural gas to flow. This reminds me of an Aussie restaurant’s sign, “Eat here before we both starve!”

          This whole Ukraine thing has been fomented by a handful of globalists who see EU and NATO expansion as the only way forward, and they’re unwilling to acknowledge Russia’s security concerns. And if it goes totally sideways they’ll be counting on the U.S. to come to the rescue. Biden is to blame for not making clear the U.S. position.

    2. Obscene valuations sponsored by the Fed that were bound to crash. Pooty poot and the Ukies are just a sideshow, not a “Black Swan” or other excuse.

      1. Putin is giving the Fed excellent cover to not take the blame for crashing fisk assets as the punchbowl is removed.

        2. I think the cover will be for pumping JP Morgan and G Sachs etc full of stimulus money that they will then use to buy Russian assets for pennies on the dollar.

          1. It’s not the bankers’ fault. Their clients forced them to pounce!

            Wall Street Is Pouncing on Russia’s Cheap Corporate Debt
            – Banks, hedge funds bid on bonds from Gazprom, Russia Railways
            – Conventional distressed bets draw scrutiny under shadow of war
            By Laura Benitez, Sridhar Natarajan, and Katia Porzecanski
            March 3, 2022, 3:59 PM PST
            Updated on March 4, 2022, 5:45 AM PST

            As the U.S. and allies tighten sanctions on Russia and choke off investor demand for its assets, parts of Wall Street are jumping on the buying opportunity that it’s creating.

            Goldman Sachs Group Inc. and JPMorgan Chase & Co. have been purchasing beaten-down company bonds tied to Russia in recent days, as hedge funds that specialize in buying cheap credit look to load up on the assets, according to people with knowledge of the private transactions.

            Banks routinely scoop up debt because clients asked them to, or because they expect to find ready buyers.
            …

  16. Heckova job, central bankers. One hopes the sheeple will eventually get fed up with soaring inflation & stop electing globalist errand boys.

    Record rents and house prices pile pressure on UK households

    https://www.theguardian.com/money/2022/mar/05/record-rents-house-prices-uk-households

    Average UK rent has passed £1,000 as house price figure breaks through £260,000 barrier for the first time

    Record rents of more than £1,000 a month and the average house price breaking through the £260,000 barrier are putting added pressure on households already facing a cost of living crisis.

    Data from the tenant referencing agency HomeLet showed the average UK rent rose to £1,069 a month in February, up 8.6% on the same month of last year when the figure stood at £984.

    1. One hopes the sheeple will eventually get fed up with soaring inflation & stop electing globalist errand boys.

      The sheeple are easily led by the nose.

  18. The Ministry OF TRUTH is going to decide what is disinformation and what isn’t.
    I predict even more censorship moving forward. Every villain in history took control of information to carry out their genocide and mass brainwashing. .Computers were suppose to advance knowledge and information , but now its used for warfare to defraud the public.
    I see this fake and censored news as the biggest weapon the Globalists are using to advance the crazy dictorship they plan. . , that was never voted for.

    1. The Ministry OF TRUTH is going to decide what is disinformation and what isn’t.

      I’m trying to not watch any news as it’s non stop propaganda. If nukes fly, they fly. Watching the evening news won’t change that.

      1. ** ” I’m trying to not watch any news as it’s non stop propaganda. If nukes fly, they fly. Watching the evening news won’t change that.”

        very true. and I don’t even bother reading most of my regular news sites anymore, as it’s all biased favorably towards Ukraine. Ukraine. UKRAINE!!

        I’d much prefer complete coverage of both sides. let me make up my own mind.

        hah! good luck with that. the local sac bee has almost daily editorial hysterical pleadings of “Why we MUST ___________ ! ”
        (so uh, whatever happened to reporting the news, instead of making the news?!)

        in each & every sac bee article they always highlight exclusively . . poor women & children:
        immigration!? poor women & children.
        homeless?! poor women & children
        shootings?! crime!? war!? hmmm, yep. poor women & ch ch children.

        Dr. Smith says: “oh the pain. the pain!”

        the poverty pimps ruined the country. it’s been obvious for quite some time that our overlords want the average person to ignore common sense & react emotionally, instead of thinking rationally.

        green woolen beanie / sky screaming optional.

        2. “Don’t forget the sharks!”

          The only time you’ll see a shark in a Lagoon like that is the original Jaws.

          https://youtu.be/v39XR2v_S3g?t=47

          Although not far from that sunrise picture off Singer Island when the sharks are migrating areal views shows them swimming around people in the water every year, just not Great Whites or Hammer Heads.

          As for…

          “flesh eating bacteria and zombies with corona.”

          If you’re going to live life thinking like that you might as well roll up the windows in your car, put your mask on and bit#h about how the unvaccinated are going to kill us all.

    2. St. Greta has conferred her protection on us. The incense I burned last night in my shrine room before my icon of St. Floyd of Fentanyl found favor in her eyes.

  20. Nearly there! People’s Convoy rolls into Maryland as 30 mile caravan of anti-mandate protesters approach their final destination of Washington DC and tease possible visit to WHITE HOUSE

    https://www.dailymail.co.uk/news/article-10580801/Nearly-Peoples-Convoy-rolls-Maryland-approaches-final-destination-DC.html

    After a nearly 2,500-mile journey from southern California, the now estimated 30-mile-long People’s Convoy is set to reach Washington D.C. Sunday morning in a call for ‘freedom’ and the removal of ‘unconstitutional’ COVID-19 mandates.

    The convoy arrived at Hagerstown, Maryland – the final stop before one last stretch to the nation’s capital which is now around 75 miles away or about a 90-minute drive – on Friday night and held a rally attended by at least 1,000 vehicles. The group confirmed to DailyMail.com it will be spending all of Saturday rallying at the Hagerstown Speedway before journeying on to D.C.

    1. Oh phooey. I was planning to go in that direction tomorrow. I might have to stay away from I-270.

  21. The Globe and Mail. “The first of multiple rate hikes from the Bank of Canada is in the books and banks have already boosted their prime lending rates by 25 basis points to 2.7 per cent. Not even our central bank knows how high prime rate could go, as its off-base forecasts clearly demonstrate. ”

    “I like to say our central bankers are firemen who’ve arrived late to an inflation fire. After the 1973 oil shock, central banks also took too long to tighten monetary policy. Inflation hit double-digits and the prime rate just about doubled. The 1970s were a different era with far less consumer leverage (among other things), but while history may not repeat this time, it could rhyme.”

    https://themarket.ch/interview/the-world-wide-suppression-of-interest-rates-has-been-something-very-near-to-a-crime-ld.85
    Das Interview [James Grant interview]
    Christoph Gisiger 03.04.2019, 22.00 Uhr

    Q: “For quite some time, you have been warning that extreme measures like negative interest rates and quantitative easing will get us into trouble. But so far, the central banks remain confident that their policies are working.
“

    A: “What we see is an attempt to make things smooth and to forestall crises through keeping interest rates very low. But central banks are arsonists and firemen. They are arsonists because they strike the matches which set off the fire. It’s like an underground fire in a coal mine: You can see the smoke seeping up out of the ground and the ground is warm under foot, but you can’t see the flames. Then, time passes and the fire spreads and becomes more fierce and hotter. Finally, it bursts out of the ground. That’s in some way what happens in the credit markets.”

    Q: “What do you mean by that?
”

    A: “Robert Kaplan, the President of the Dallas Federal Reserve for instance, recently came out and said he is worried about the buildup of corporate debt, especially the lower rated portions of that debt. He’s concerned about the risk that this debt is coming on the market in great waves during a recession. Therefore, the Fed should be very careful with raising rates, he argues. So basically, what he is saying is that the Fed must keep rates low to perpetuate the debt cycle which has given us an excess of debt about which he is worried. This is [batsh*t] crazy, right?“

    Q: “Then again, Bernanke and other central bankers claim that their low interest rate policies have preserved the world from an economic depression. What’s your conclusion when you look back on the last decade since the financial crisis?”

    A: “
I’m of the view that the world-wide suppression of interest rates over the past ten years has been not only inadvisable but, on moral grounds, something very near to a crime.”

    – Central banks are a pox upon the world; a global pandemic worse than the CCP virus. And yet nobody seems to mind, since stonks and housing “to the moon” (until they don’t).

  22. “‘It’s not something that’s sustainable forever,’ he said. ‘I think it’s a good thing for rates to rise to get us out of this mess.’”

    Once the cheerleaders are on the bus, it’s game over.

      1. What happened was clear. Hill was no doubt threatened to back down. Who knows what the threat was. It could have been along the line of “nice family you have, it would be tragic if something happened to them.”

  24. How about increasing oil and gas production in US for starters Mr Biden. We were energy independent until you shut it down without reasonable alternatives.
    Is it to much to ask for that the President acts on behalf of the interest of the United States instead of the Globalist chest players that hate the US.

    1. It’s not about what’s right, the environment, or anything else, it’s about serving the financial interests of the donors who put this puppet in charge. The entire globe is controlled by billionaires fighting each other for power over resources and wealth. That’s it. There is no way in hell that Biden – or any other puppet in his party – will do anything to further oil production or dependency. Get used to it.

    2. If one is willing to entertain the idea the Brandon and his ilk intend to harm the US, then everything he does makes perfect sense.

  25. A little off topic, but I thought worth mentioning. I was out running some errands the other day and had a little time to kill so I went into the local Macy’s. What I found absolutely shocked me. The mens’ department was so thin on product that there was essentially nothing to buy in my size, or that I would even want. And the quality? The quality of the clothing was so extremely poor that it made K-Mart of the 1970s look like Bloomingdale’s or Neiman Marcus. I recall Macy’s used to be the good store to shop at as a kid. I left the store feeling sick to my stomach at what this country has become.

    1. Macy’s has been going downhill for a while. Maybe 8-10 years ago it was still the “nicer” department store, as you mention. But I started seeing what you describe a while back, and last I saw it only got worse.

      Wrote them off several years ago, sadly.

    2. Macy’s seemed to be well-stocked enough a couple weeks ago, but yes the product sucks. Office wear was already on life support until the pandemic killed it entirely. In the past few years, style in general has devolved into Athleisure for Fat People. Quality clothing can still be found, but it’s all outdoorsey stuff like LL Bean or Columbia and it’s very expensive. I still have some nice catalog clothing but it’s 10 pounds too tight. Ugh, I’ll work on it.

    3. Try Saks off 5th. Shop the 75% clearance and wait for the extra 20-40%. $1300 sportscoats for under $150 for the patient.

      Or you can go FOMO like housing and pay retail. 🙂

  26. I think we are being lied to about the problem with the supply chains. I firmly believe China is intentionally holding back product for shipping, crippling the US economy in a stealth trade war that Fock Joe Biden won’t even acknowledge. They’ve got us over a barrel, bigly, thanks to greedy fock corporations and politicians who sold us down the river over the past 45 years. Sickening.

    2. I’m not sure that explains supply issues with Japanese tractors, UTVs, etc.

      What you say may be true, but there’s certainly more than that going on, as more than just Chinese imports are impacted, or more than just the US.

      1. For example…spoke to my salesman and it would take ~12 months for them to get a landscape rake in (land pride). It’s taken 5 months to get a tractor (still not delivered!)

        1. You don’t have to wait 5 months. Any of those lifestyle and appearance products are available at TSC, JD and cub cadet dealers.

          ProTip- Any grass and snow outfit will seed and topsoil many times over for a mere fraction of the cost of lifestyle products.

      2. I didn’t mean China’s the sole reason, but I think the problems go far beyond what is being discussed. This is, though, first and foremost a demand-pull problem due to the most reckless, irresponsible money printing in history. There was never enough product to soak up that amount of paper. The FED and .gov have proven they are grossly corrupt and incompetent.

        1. You’re the first person I’ve seen or heard question the supply chain narrative. I’ve had my own sneaking suspicions too. I’m not sure what the problems are, but I’m sure it’s likely well known in the various industries. I should look into it.

          1. We kicked around the trucker delay a while back, which boiled down to lack of pay in the face of rising fuel costs, long hours, increased regulations, etc., another sad main street story.

          2. My son and I bought a high end trolling motor recently. The Minn Kota factory was very iffy on delivery times. They still claim electronics deliveries. Nothing in stock nationwide, and naturally my son’s specifications were pretty strict.

  29. Convoy organizer Tamara Lich wants out of jail, appeals bail denial

    By David Akin Global News
    Posted March 2, 2022

    Tamara Lich, 49, of Medicine Hat, Alta., asked Ontario Superior Court Justice Hon. John M. Johnston to overturn a ruling made by a lower court judge, Ontario Court Justice Julie Bourgeois, that Lich be held without bail.

    After more than six hours of testimony and arguments, Justice Johnston reserved his decision until Monday, March 7. Lich, who has been in detention since Feb. 17 will remain in jail at least until then.

    One of the points that Lich made in an affidavit she put before Justice Johnston to support her application was that she learned after her bail hearing that the bail judge, Justice Bourgeois, was a candidate in the 2011 general election for the Liberal Party of Canada and, according to her affidavit, she learned Liberal Leader Justin Trudeau praised Bourgeois’ candidacy at the time.

    https://globalnews.ca/news/8654843/convoy-organizer-tamara-lich-appeals-bail-denial/

      1. Back in the cold war days I thought it was absurd how some Communist countries had the word “Democratic” in their official name. Now that it’s happening next door, I can see why they did that.

  30. Top Army Colonel: ‘Puppet’ Zelensky Putting His People At ‘Unnecessary Risk’

    by Jamie White
    March 5th 2022, 4:02 pm

    Ukrainian President Volodymyr Zelensky is a “puppet” who’s putting his people at “unnecessary risk” by dragging out the conflict with Russia, according to retired Army Colonel Douglas MacGregor.

    When asked on Fox Business why Russian President Vladimir Putin had targeted the Zaporizhzhia nuclear plant, MacGregor explained that he wasn’t trying to destroy the station, but was targeting Ukrainian forces who’ve embedded themselves in civilian infrastructure to avoid annihilation.

    “What you’re seeing is that the Russians have now driven what’s left of the Ukrainian forces, who are taking refuge in population centers – cities – because they have no mobility, no air defense, no air cover, no logistical infrastructure,” MacGregor said on Friday.

    “They are now mingling with the population, much as we’ve seen in the Middle East when we drove the Islamists out of business, they ran into cities, used people as shields – the civilian population – and trying to avoid being annihilated.”

    “And I think that’s essentially what’s happening today with the population being used by the Ukrainian forces to avoid destruction,” he added.

    Fox Business host Stuart Varney then asked if Putin was trying to “flatten” Ukraine into rubble.

    “No. Absolutely not. In fact, he’s worked hard to capture most of it intact, surprisingly little damage frankly, Stuart,” MacGregor pointed out. “Much less damage than we inflicted on Iraq when we went in in ’91 and again in 2003. No, I think they’re just surrounding the Ukrainian forces and they are annihilating them.”

    MacGregor went on to claim that Ukrainian President Volodymyr Zelensky is just trying to postpone “inevitable” defeat in the hopes that America comes to “rescue” him.

    “The question is, what is it that Zelensky is going to do? The Russians have made it very clear that what they want is a neutral Ukraine. This could have ended days ago if he accepted that, and then they can adjust the borders,” he said, adding that Russia’s objective is not to occupy Ukraine, but to “destroy Ukrainian forces.”

    MacGregor also suggested Zelensky is merely a “puppet” of the West who’s “putting huge numbers of his own population at unnecessary risk” by trying to drag out the conflict with Russia using propaganda.

    “And quite frankly, most of what comes out of Ukraine is debunked as lies within 24 to 48 hours,” MacGregor said. “The notions of taking and retaking airfields, all of this is nonsense. It hasn’t happened.”

    Varney then came to Zelensky’s defense, asking whether MacGregor thinks Zelensky could be considered a “hero” to his people.

    “No. I do not,” MacGregor chuckled. “I don’t see anything heroic about the man. And I think the most heroic thing he can do right now is to come to terms with reality. Neutralize Ukraine. This is not a bad thing. A neutral Ukraine would be good for us as well for Russia. It would create the buffer that frankly, both sides want.”

    “But he’s being told to hang on and trying to drag this out, which is tragic for the people who have to live through this,” he added.

    Varney again pushed back, saying he’s “inclined to disagree” with MacGregor – without offering any evidence to rebut the colonel’s statements – before ending the segment.

    MacGregor’s sober predictions and analysis over the last week have so far proven largely accurate despite over-the-top propaganda claiming Ukrainian forces are easily winning the conflict against Russia.

    https://www.infowars.com/posts/top-army-colonel-puppet-zelensky-putting-his-people-at-unnecessary-risk/

    1. (Just in case anyone needs a reason to believe retired Army Colonel Douglas MacGregor.)

      Liz Cheney Rails Against Col. Doug Macgregor For Calling Zelenskyy a ‘Puppet’ Putting Ukrainian People ‘At Unnecessary Risk’

      By Katherine HugginsMar 5th, 2022, 7:08 pm

      Rep. Liz Cheney (R-WY) sharply rebuked retired Col. Douglas Macgregor on Saturday for continuing his pro-Putin rhetoric amid Russia’s invasion of Ukraine.

      After noting that former President Donald Trump had nominated Macgregor to become U.S. ambassador to Germany, Cheney commented, “This is the Putin wing of the GOP.”

      https://www.mediaite.com/tv/the-putin-wing-of-the-gop-liz-cheney-rails-against-col-doug-macgregor-for-calling-zelenskyy-a-puppet-putting-ukrainian-people-at-unnecessary-risk/

    2. MacGregor’s sober predictions and analysis

      FWIW, I’m hearing the same predictions and analysis elsewhere. There’s the media war that Ukraine is winning and the real war that Russia is winning.

      2. There’s the media war that Ukraine is winning

        I’m still waiting for the Rainbow Warriors to volunteer to go over there and fight for “democracy”.

  31. It looks like eastern Europe’s wealth will be gobbled-up by the west’s capitalists or the east’s oligarchs.

Comments are closed.