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The Peak Of Rising Property Prices Was Fast Becoming A Distant Memory

A report from the LA Business Journal in California. “Agents agree that a lot of the reason we are seeing more mansions sell at auction is that properties are simply listed too high and in some cases, sellers want to offload the properties quickly. Another major reason for some of the high-priced auctions we’ve seen, such as The One, is that the developer or company that owns the property has filed for bankruptcy.”

“With auctions, you have to have a really good understanding of the value that you are willing to pay,’ said Hilton & Hyland’s Stuart Vetterick, one of the agents who represented the buyer of The One, adding that for buyers he cautions them to come up with a value they think the property is worth and not bid beyond that. ‘You don’t want to get other people that are opportunistic pushing you through the levels you are willing to pay… buyers’ remorse is a real thing,’ he added.”

The New York Post on California. “Tom Girardi and ‘Real Housewives of Beverly Hills’ star Erika Jayne’s longtime marital home has gone into foreclosure — with another abysmal price cut after nearly a year on the market without any offers, The Post can report. Initially listed for $13 million last May, the Pasadena, Calif., estate now sits on the market for just $7.98 million.'”

From Fortune. “‘Fewer people are starting online home searches and applying for mortgages than this time last year, and year-to-date growth in home tours remains far below 2021 levels. An increasing share of sellers are also reducing their prices after putting their homes on the market,’ wrote Redfin researchers. ‘The market still feels hot, but a slowdown in online searches, home tours and mortgage applications suggests more buyers are getting priced out.'”

The Motley Fool. “Recently, developer Marvy Finger, who has over 5 decades of developing luxury real estate properties sold half of his Sunbelt apartments, as he considers the recent price appreciation to be unsustainable. He warns of an upcoming glut of apartments. Finger’s sale may well be a case of ‘sell when you can, not necessarily when you want to’ and doesn’t really signal anything like an imminent crash.”

From Arizona PBS. “Rent in the Metro Phoenix Area is skyrocketing, climbing 80% between 2016 and 2021. Meanwhile, median household income only rose 22% during those 5 years. As a result, many people are using 50 to even 100 percent of their income to pay their rent. More than $13 billion spent buying metro Phoenix apartments, much spent by new landlords, and that does not count new buildings. An apartment downtown would typically be $250,000. However, some are selling for as much as $600,000 per apartment unit.”

“Some people are spending all of their income on their rent, and Catherine Reagor, Senior Real Estate Reporter at the AZ Republic said ‘it just can’t’ go on, people can’t afford it.”

From CBC News in Canada. “Some economists now think Bank of Canada rate could go twice as high as it was pre-pandemic. The bank’s deputy governor said as much telling attendees at a monetary policy conference that an uptick of household debt was ‘worrisome’ and that the bank was ‘prepared to act forcefully’ to ensure inflation doesn’t run too hot for too long. For Carlos Capistrán, an economist with Bank of America, strong language like that from a central banker is a clear sign that ‘everything is on the table,’ when it comes to bringing down inflation.That type of tough talk is the banks’ way of saying ‘We’re really going to fight this forcefully if we need to,’ according to Capistrán.”

“If Capistrán’s projections are right and the Bank of Canada rate is headed to 3.25, expect variable rates to make a similar leap. The impact could be dramatic. Right now, an uninsured 25-year mortgage of $400,000 at 1.5 per cent would cost $1,599 a month. But if that variable rate goes up to just four per cent, where fixed rate loans already are, the monthly payment jumps by more than $500 a month for the life of the loan.”

From News.com.au. “Australia’s red hot property market, which has seen prices skyrocketing during the pandemic, has finally come crashing down. Momentum in Australia’s property market has really slowed in 2022 with the fear of rising interest rates plaguing it, according to PropTrack economist Paul Ryan. ‘Those boom conditions seem like they have passed. While housing prices are still going up, it’s at a slower rate and whether prices increase or fall significantly is a question around interest rates and when and how quickly the RBA will increase rates,’ he told news.com.au.”

“But he said interest rates are already playing into a drop in housing prices. ‘I think part of that is prices have caught up to the reduction in borrowing and we have already seen interest rates start to drift higher, especially with fixed rates, and we are already anticipating borrowing costs increasing when the RBA potentially increases rates later this year,’ he explained.”

Mortgage Professional Australia. “House prices are forecast to fall over the coming years, as downward pressure on migration, rising supply and higher interest rates constrain demand. Executive chairman of non-bank lender Mortgage Ezy Peter James said there was currently a lot of uncertainty in the housing market. The peak of rising property prices was fast becoming ‘a distant memory,’ James said.”

From Stuff New Zealand. “The IMF delivered its most alarming statement about New Zealand’s biggest domestic problem: housing. It pointed to soaring household debt due to rising house prices, borrowers’ vulnerability to rising interest rates as the Reserve Bank hikes the official cash rate, and banks’ heavy exposure to housing. According to the financial institution, the NZ property market is a financial stability risk. The message was stark. While recent government and Reserve Bank attempts to ‘mitigate investors’ demand’ have helped, and could ‘address imbalances,’ New Zealand remains vulnerable to a property downturn. In other words, if the house of cards ever falls, it would do so in spectacular fashion.”

“A senior economist recently told me they feared young New Zealanders would leave in their droves for countries with ‘better wages, higher productivity, and a more affordable housing market that works properly.’ The person lamented the state of the New Zealand economy ‘based on borrowing foreign money to sell houses to one another at ever-inflated prices.'”

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  1. ‘An apartment downtown would typically be $250,000. However, some are selling for as much as $600,000 per apartment unit’

    There’s not a sh$ttier sh$t hole than downtown Phoenix, outside of California. On the bright side, the foreclosure auction are a quick 10 minute walk away in the 115 summers. Stupid high airbox prices and renters are paying 50-100% of income? You guys are fooked now.

    1. $600k apartments should be the LEAST of their worries:

      In addition to depleting the total amount of water available, some worry that draining aquifers could harm the quality of the water that remains. Marvin Glotfelty, a fourth-generation Arizonan and hydrogeologist who has worked on more than 1,000 wells, said changes in the level of underground water could force users to draw from areas exposed to pollutants.

      Groundwater considered unsafe for drinking could start coming up through wells in central Arizona “within half a decade,” Glotfelty said.

      “When we start pumping more groundwater because of a lack of surface water,” he said, “now we’re going to be impacting the aquifer and it won’t take very long for well after well after well to start having these problems. So it’ll be a common thing.”

      Water agencies are required to treat the supply before it’s piped to home faucets, but that process is expensive.

      “They’re going to have to raise their rates to treat that water,” Glotfelty said. “So people are going to pay a lot more money for water than they do currently.”

      https://www.kunc.org/environment/2022-01-04/with-less-water-on-the-surface-how-long-can-arizona-rely-on-whats-underground

      1. Dependence on aquifers is a problem throughout all the Southwest. Dumver is heavily dependent on them and they will dry up in a few decades.

        Arizona’s growth never made sense to me.

          1. Lots of empty land too

            Forest and farm are not “empty land”. Lots of front lawns are. JMO.

    2. I’m wondering if there’s a sh!ttier sh!thole in the US than Phoenix in July. The weather if focking atrocious. This is a speculative bubble on steroids.

  2. ‘New Zealand remains vulnerable to a property downturn. In other words, if the house of cards ever falls, it would do so in spectacular fashion’

    The globalist scum set you up for this New Zealand. Sure, shacks can go up 40% in a year cuz CCP virus!

  3. ‘That policy shift could be bad news for some investors who indulged in a yearlong private equity party during 2021. Backed by rock-bottom interest rates and a booming stock market, the industry spent more money and bought more companies than ever before. But the economy is now in a different place. If interest rates rise as expected, the hangover from last year could include an increase in bankruptcies and other signs of distress.’

    “The deals that have been done over the last 18 months—and there was a lot, I mean it was a total bonanza—I am telling you, they are highly leveraged,” says Markus Lahrkamp, the leader of the private equity performance improvement group at advisory firm Alvarez & Marsal. “I’ve not heard any buyer’s remorse yet, but I don’t think we’re that far away from when this is going to start.”

    ‘After years of being essentially free, debt is starting to get more expensive. “As rates rise, the days of access to inexpensive capital are certainly waning,” says Glenn Mincey, the global tax leader in KPMG’s private equity practice.’

    https://www.msn.com/en-us/money/markets/fed-rate-hikes-could-cause-bankruptcies-to-bloom-in-private-equity-portfolios/ar-AAVBqEQ

    1. ESG Pioneer Expects Shakeout for Funds Hyped by ‘Fairy Dust’

      ‘After attracting trillions of dollars, the ESG fund industry is headed for a “shakeout” over the next five years, according to the man who coined the acronym. The finance sector has “sprinkled ESG fairy dust” on products that do little to account for environmental, social and governance risks, said Paul Clements-Hunt, adding that ESG funds in jeopardy include those that track benchmark indexes.’

      “Anybody who uses ESG, sustainability or green purely as a marketing device is really heading for trouble,” Clements-Hunt said in a telephone interview from Nairobi where he runs an advisory firm called Blended Capital Group. “You’ll see a developing queasiness from marketing departments where, perhaps, ESG funds aren’t all what they’re cracked up to be.”

      ‘ESG has ballooned into an industry embraced by the giants of Wall Street and Europe’s financial hubs, with the label now slapped on everything from exchange-traded funds to loans and credit-default swaps. The global market adds up to about $40 trillion of assets, according to analysts at Bloomberg Intelligence.’

      “It’s a whirligig, a frenzy, a marketing mania,” Clements-Hunt said.’

      ‘The 56-year-old said both institutional and individual investors no longer accept all ESG claims at face value. They’re “far more demanding, far more questioning of what is and what isn’t real,” he said.’

      https://finance.yahoo.com/news/esg-pioneer-expects-shakeout-funds-130007710.html

      Is 40T pesos a lot?

        1. My take is it’s a social credit score for companies. My last employer was really into being a so-called good member of the community.

  4. ‘More than two years after COVID-19 upended the world of work, signs of a slow-motion crackup in office real estate are emerging. Barclays analysts noted last week that the share of office mortgages that have been assigned to either “watchlists” of loans showing signs of being in trouble, or “special servicing,” where loans with missed payments are sent, has hit more than 21%. That’s the highest since the financial crisis.’

    ‘Nationwide, office vacancy rates rates have risen to 12.2% from 9.7% over the past two years, according to Barclays, which cited data from Costar, a commercial real estate database. Those numbers likely overstate how much of that office space is actually being used. Recent data from Kastle Systems, which measure occupancy by looking at foot traffic into offices, showed vacancies of about 60% in major markets.’

    ‘Some of the biggest jumps in office vacancies have been in San Francisco, Seattle, New York and Los Angeles.’

    https://news.yahoo.com/signs-stress-deepening-market-office-115446936.html

    DONG!

    1. Wow – Blackstone is stopping payments on the mortgage. With $801B assets under management. Blackstone has a huge business for assets under distressed – they are selling???

      What happens to all these other older buildings (>20 years old)

      Most recently, private equity giant Blackstone stopped making payments on a loan backing a 600,000-square-foot art deco office tower in midtown Manhattan. The building, 1740 Broadway, is expected to be nearly empty next year after the main tenant, troubled retailer L Brands, decided not to renew its lease.

    2. As somebody mentioned in another thread, the big push to get the WFH crowd back into the office is nothing but a transparent attempt by banks to save their own bacon since they own all these loans. I’m sure Coma Joe and Co. will quickly start pushing this as well. They are, after all, nothing but banker puppets.

      1. My employer in Salt Lake City is pushing it, but frankly I’m uncomfortable downtown nowadays. I don’t feel safe around opiate zombies, even if I have a garage for parking. I don’t think my employer would be happy if I concealed carry at the office, so it’s a bit of a standstill.

      2. They’re also trying to save the downtowns. Without thousands of commuters going to lunch or dinners, or foot traffic shopping, or catching a show and staying at a hotel overnight, you’re going to get decrepit downtowns again. I spent a lot of time in Downtown DC in the early 2000s, and the place was hoppin. Loved going to Macy’s or Filene’s Basement.

        1. Loved going to Macy’s or Filene’s Basement.

          One thing I cannot stand is online clothes shopping. Nothing beats trying something on in person to see how it fits, not to mention feeling the garment and what kind of hand the fabric has. It’s easy to spot the cheap garbage in person, not so much based upon a generic photo. I have returned items ordered online that I would have never even considered in person because I would have been able to easily see it was not acceptable.

          1. I had some luck with women’s clothing from catalogs, but mostly for softer styles that come in S,M,L. I wouldn’t take a chance on a tailored suit. And shoes, forget it.

    3. i am usually happy to blame Banks etc., but i dont think property self-interest is the primary cause this time.

      Because this is happening over high-tech, life sciences. elsewhere …

      My hypothesis is that middle managers, GMs etc, cannot do any work on their own – and are not organized enough to coordinate the WFH employees to properly hit near-time workitems (and adhoc)

      I think that they really prefer to go down the hallway and yell something … They consider this collaboration and brainstorming.

      Individual contributors, professionals etc can do fine WFH, it these management types that are having a harder time.

      1. they really prefer to go down the hallway and yell something

        I’ve worked in a company where the managers did actual engineering projects on their own and coordinated efforts of their staff (engineers who were doing similar projects independently) as an aside. It was a real pleasure. A little “how’s it going” chat from time to time.

    2. COVID vaccines are poison.

      Somebody on 4chan needs to find the addresses (because this sh*tbag certainly has more than one) of this Pfizer CEO, then he can be hunted down and killed.

      We can skip the trial and legal system for this guy, he needs to die.

      2. I recall some 20 odd years ago Hewlett Packard’s CEO visited us in Fort Collins. IIRC she had 3-4 bodyguards, which stood out like sore thumbs. I expect the much hated CEO of Pfizer has a squad of former Navy SEALs guarding him around the clock.

        A few years ago, my VP got to meet our big cheese. Before he was allowed to enter the room where Ellison was, he was patted down and wanded by some very grim looking security types.

        1. He is not a “soft target” but that doesn’t change the fact that he needs to die.

          It’s only been 16 months since the mRNA poison was inflicted on the first people, it’s going to be a process of years and years for millions to die from these “vaccines” that are not vaccines.

          This is literally a genocide.

          1. One dad who lost a child. One husband who lost a wife. One brother who lost a brother.

            Someone will seek revenge.

        2. HP Fort Collins is long gone right ? Long time ago I flew out there to get a cross point switch tester qualified. Right before the big tech wreck of the early 2000’s.

          1. HP Fort Collins is long gone right ?

            It’s still there, but it’s a shadow of it’s former self. Years ago, the campus was divided between HP and Agilent. Agilent sold the business (chipmaking of some sort) in Ft. Collins to a company called Avago. According to Dun & Bradstreet, Avago has 270 employees in Fort Collins.

            HP too went through layoff after layoff. The former Loveland and Greeley sites were closed and consolidated into the Fort Collins campus, but that also shriveled away. I believe that both HP Enterprise (severs) and HP Inc. (printers and PCs) still a small presence at the Ft. Collins campus.

            I once worked in building 5, which I heard has been empty for about 10 years. A very sad situation.

          2. HP’s legacy is pretty tangled. I’m going from memory so some of this might be a little off.
            PC’s –> HP (HP’s PCs + Compaq)
            Servers and such –> HP Enterprise
            Test Equipment (the “real” HP): Agilent then spun off again as Keysight (based in Santa Rosa, CA)
            Semiconductors & such: Broadcom via Avago. Avago (based in Singapore) was the original spin off, which went on a buying spree, bought Broadcom & renamed itself (so HP optoelectronic products such as encoders are now Broadcom products)

      3. “We can skip the trial and legal system for this guy, he needs to die.”

        I certainly agree with the sentiment here – but isn’t the trial the part where he gets to really face his actions and reflect on the consequences? I would never advocate torture, however if an individual feels tortured by his self-imposed predicament and impending fate…that’s the breaks, yeah?

        I say no rush and let the process unfold in a very deliberate fashion. 🤷‍♂️

        1. But that’s never going to happen. As we now see, these murderous thugs are operating with impunity under the current system. The rule of law is gone. Also notice how, when somebody mentions taking the law into their own hands and butchering these animals, suddenly the sheep are horrified. But they’re not horrified when officials do it in broad daylight.

          1. suddenly the sheep are horrified

            Wrong. We need to bring back the rule of law. If we toss that, the essence is gone. Every man a law unto himself does not make a great country.

  6. Never let a crisis go to waste: by labeling thug violence “gun violence,” Brandon & his fellow globalist puppets are going to ramp up their efforts to carry out the disarmament of potential resisters demanded by their globalist oligarch bankrollers & puppet masters.

    Biden demands new gun laws in wake of Sacramento massacre that killed six: First victims identified are dad-of-three, 38, and man, 29, as police say they are looking for at least TWO gunmen

    https://www.dailymail.co.uk/news/article-10682399/PICTURED-Married-dad-38-man-29-six-killed-Sacramento-bar-shooting.html

    1. well shucks, golly gee, Maybe if they focused on the shooter, 5 years NO bail for possession of each illegal gun, 10 years NO bail if the serial #’s are filed off, and Double everything if you have priors. That sounds fair and reasonable.

      1. Everyone outside the west must be laughing their heads off at how we worship vibrants of all stripes. They know they don’t have to attack us, we are in the process of destroying ourselves.

      1. Groomers gonna groom.

        Groomers *gotta* groom, because trannies aren’t born tranny, they’re recruited.

        “They’re not sending their best”

    2. So not only will they be grooming your kid, they want to charge you $400 for the favor.

      1. I’m guessing all the parents who sent their kids to grooming school are mid-to-high level Democrat-Bolshevik apparatchiks and donors.

    3. I’m sure that chestfeeding Buttplug and his husband would love to send their adopted son to such place.

  8. How’d that “hope ‘n change” work out for ya, ‘Murica?

    The average family health insurance premium in the US has more than tripled since the “affordable” care act was signed into law back in 2010.

    The biggest beneficiaries: health insurers.

    United Health Group (the largest US insurer) is up 1,750% vs. a 389% gain for the S&P 500.

    https://twitter.com/charliebilello/status/1510091137024995328

    1. Right. Wouldn’t it be nice to own a business where the government forces every single person to be your customer? Then you can just name the price because they have no choice. The USA is OVER.

    2. By the way, isn’t it kind of odd that no reporters are at Obama’s oceanfront estate asking questions about this historic failure? Or about where the money for these new digs came from when the guy didn’t have 2 nickels to rub together? The corruption is staggering.

      1. when the guy didn’t have 2 nickels to rub together

        I remember reading a story from before he came a senator. He couldn’t rent a car because all his credit cards were maxed out. Now, even though he’s only ever been a public servant, he’s filthy rich. Those must be some nice book deals and speaking fees.

        1. I won’t re-post a link for this, but the most disgusting recent action of this King Obama was at his Royal 60th Birthday Party on Martha’s Vineyard in 2021, which when his 600+ guest list was deemed to be too risky because of CCP Flu, they trimmed it down to only 400, because (per the New York Times) the guests were “sophisticated, vaccinated people.”

          These people need to die. All of them.

          4chan, do your homework, start spreading the word.

          Just publish the addresses, the daily / weekly travel patterns.

          All of the above of course a completely fictional and hypothetical sequence of events, occurring only within a fictional game of Minecraft…

  10. Initially listed for $13 million last May, the Pasadena, Calif., estate now sits on the market for just $7.98 million.’”

    Get to sawin’ & slashin’ like you mean it, greedheads.

  11. “Some people are spending all of their income on their rent, and Catherine Reagor, Senior Real Estate Reporter at the AZ Republic said ‘it just can’t’ go on, people can’t afford it.”

    Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, Jerome Powell, & Brandon.

    1. said ‘it just can’t’ go on, people can’t afford it

      I’m surprised they aren’t telling families to double up.

      1. I’m surprised they aren’t telling families to double up.
        Patience grasshopper, all in good time, all in good time.

    2. Imagine how stupid you would have to be to agree to spend 100% of your income on rent. And what sort of landlord would approve that? Some of this stuff is really far-fetched.

      1. They didn’t get approved.

        They’ve been living in the same rental apartment for 10, 15, 20 years, in a building that was once affordable, in a city that was once affordable, 10+ years ago.

        These are my neighbors. Rent went up, their incomes did not.

        1. That article is about Phoenix. But it may as well be describing Denver. I went to pick up a carry out pizza a few months ago, and told the cashier it looks like there is somebody homeless living out of a vehicle in the restaurant parking lot (extension cord running from outlet on side of building into vehicle) and she said “yeah that’s one of our cooks, he lives there.”

          P.S. the net worth of American billionaires increased by over $400 billion since the start of the “COVID pandemic”

  12. “…Some people are spending all of their income on their rent, and Catherine Reagor, Senior Real Estate Reporter at the AZ Republic said ‘it just can’t’ go on, people can’t afford it…”

    Riddle me this Catherine. What happens when rents are 125% of income? Or 150%? Do tenants get access to their apartment just 3 weeks out of the month?

    1. This is an example of REIC cheerleaders eating their crowz. There’s a guy over at housing wire who poo-pooed the bubble that now is pulling his hair out over prices being too high.

    2. What happens when a large class of renters, known as freelivers, get their places for free, due to pandemic eviction moratoriums, while others, known as bagholders, pay full rent?

      1. “Both sides agree that the assistance program, built from scratch to quickly deliver billions of dollars to tenants and landlords, has been confusing, opaque and fraught with delays. Still, the state has distributed $2.6 billion to 223,000 renter households since it launched last March.”

        $2.6 billion ÷ 223,000 = $11,600 per renter household. It’s about a fourth a year’s rent for our area.

    3. What happens when rents are 125% of income?

      I was in Dumver yesterday. Plenty of homeless.

    4. What happens when rents are 125% of income?

      Easy – they stop paying the rent. The Sherrif’s office has a huge eviction backlog – the analogy would be the foreclosure backlogs in the housing crisis where it took years to foreclose. $0 effective rent brings does the average

  14. ‘You don’t want to get other people that are opportunistic pushing you through the levels you are willing to pay… buyers’

    The problem is that competition between English auction bidders in a falling price market can inadvertently result in a Winner’s Curse, where the highest bidder catches himself a falling knife.

    There’s a great way to avoid this problem, which is to use a Dutch auction, where the initial price is set higher than anyone is willing to pay, and reduced until a single bid is offered. In this case, the price trajectory of the auction follows that of the market, and all of the budders recognize that the winner has voluntarily caught himself a falling knife.

    I’ve long been curious whether the Dutch auction was invented in connection with the end of Tulipmania in Holland. Please confirm if anyone can do so.

    2. This is effectively a Dutch auction sale. I can’t say whether the sellers realized they were adopting this approach, but it happened.

      “Tom Girardi and ‘Real Housewives of Beverly Hills’ star Erika Jayne’s longtime marital home has gone into foreclosure — with another abysmal price cut after nearly a year on the market without any offers, The Post can report. Initially listed for $13 million last May, the Pasadena, Calif., estate now sits on the market for just $7.98 million.’”

  17. Are you worried that hidden debt might sink the value of your Chinese property investments?

    1. The Wall Street Journal
      Markets
      Chinese Developers Suspend Shares After Missing Annual Results Deadlines
      Producing annual results for developers has become more challenging due to a property market downturn, auditor resignations and questions about hidden debts
      Hong Kong’s exchange operator said 32 companies had suspended their stocks after failing to meet a reporting deadline.
      Photo: jerome favre/Shutterstock
      By Rebecca Feng
      April 1, 2022 4:25 am ET

      Several large Chinese property stocks stopped trading Friday as part of a wave of share suspensions for Hong Kong-listed companies that couldn’t publish annual results on time.

      The city’s exchange operator, Hong Kong Exchanges & Clearing Ltd., said 32 companies had suspended their stocks after failing to meet a reporting deadline at the end of March. The companies made the suspensions to comply with the city’s listing rules. Companies involved include major real-estate companies like Sunac China Holdings Ltd. , China Aoyuan Group Ltd. , Shimao Group Holdings Ltd. and Kaisa Group Holdings Ltd.
      …

        1. This is why China hasn’t taken Taiwan yet during Biden’s term. They have a really messy and distracting economic situation at home.

  19. Ukrainian Police Said They Conducted “Clearing Op” in Bucha a Day Before Dead Body Videos Emerged

    by Paul Joseph Watson
    April 4th 2022, 8:09 am

    Ukrainian police posted on Facebook that they had conducted a “clearing op” in Bucha the day before videos emerged showing dead bodies scattered around the settlement, as the war of words over the alleged “war crime” continues.

    NATO powers and pro-Ukraine commentators have seized upon the alleged atrocity in a bid to escalate the war, with MSNBC hosts and guests even asserting that it justifies directly attacking Russia and putting American boots on the ground in Ukraine.

    Moscow has vehemently denied involvement, claiming Ukraine shelled the city after Russian troops had already withdrawn.

    The only evidence offered so far pointing to Russian responsibility is the claims of Ukrainian authorities, with are being breathlessly amplified by the mainstream media without an ounce of skepticism.

    Margaret Brennan of CBS admitted that Ukrainian President Zelensky’s team had “handed” her the videos and they were broadcast, as journalist Michael Tracey wrote, with “zero independent corroboration.”

    https://www.infowars.com/posts/ukrainian-police-said-they-conducted-clearing-op-in-bucha-a-day-before-dead-body-videos-emerged/

    1. Orban and his party won a supermajority in yesterday’s Hungarian elections. Western leaders and their bootlicking MSM are VERY unhappy about this non Narrative compliant outcome.

      1. Christianity has prevailed.

        Interesting that the next “Dark Ages” in Europe will be in Western Europe, and possibly permanent.

        Hungary, Russia, maybe Poland, maybe the Baltics, will be the future of Europe.

    1. That and Peppermint Psaki leaving for MSNBC makes me think that the rats know the ship is about to head for Davey Jones’ Locker.

        1. Serious firebush.

          Unless she also dyes the carpet, it doesn’t match the curtains.

          3. collars and cuffs

            James Bond. Diamonds are Forever I think.

            Means the same thing you said.

  21. the illegally installed puppet biden regime, is now taking more farmland out of production in an effort to starve all of us in the time honored communist style.

    time to grow as much food as you can on your own. if an elderly neighbor has some acreage but is physically unable to farm it, make an agreement with them to farm the land with the promise to share the results. keep the government out of it to the extent possible.

    government will steal it if it’s easy for them to do so. prepare for government to be your implacable enemy until we can get every communist out of it.

    until then, they plan to starve us joseph stalin style, so prepare for it.

    1. Winning, indeed.

      I have partial Hungarian ancestry and when my people left that place back in the day, they left there to come to the United States. They didn’t come here to get dragged back into some ground war over the Eastern European sh*thole they left.

      F* Ukraine, and more importantly, f* Reddit.

      Ukraine isn’t even a real country, it’s a virtue signal.

  24. Denver9 news constantly saying how inventory is low and home prices will NOT see any weakness. I watch the Colorado Springs area pretty regularly and on Friday available properties for sale was 1,240 and again checking last night about 10pm the number was 1,270. Looking this morning and now it’s back to 1,243. What kind of games is RealtorDAWTcom playing with inventories?

    Here is some real manure . Get a load of this:
    • In Denver County, from January to February of this year, the median price for a single-family home in Denver County jumped from $575,000 to $659,000 — an increase of $84,000 or 14.6 percent in just 30 days. That’s a bigger increase than the market saw during all of 2016. In addition, the listing-to-sold-price ratio also broke a record, month-over-month, at 106.3 percent.

    https://www.csbj.com/news/springs-housing-inventory-still-shrinking/article_acae1198-a0a3-11ec-9302-bf4506406508.html

    3. Denver is a sh*thole.

      Almost everybody who moves here regrets it eventually, and leaves.

  25. As Weird Al once sang: “Dare to be stupid!”

    Activision Blizzard employees staged a virtual walkout Monday in protest of the company’s decision last week to rescind its coronavirus vaccine mandate for workers

    That’s right, they are walking out because the jab isn’t mandatory where they work. Don’t these nincompoops work from home?

    In other news, the CDC is now claiming that it’s the coof and not the jab that is causing the myocarditis epidemic. Someone forgot to tell all those jabbed tennis players who dropped out of the tournament in Miami because of chest pains.

    2. Elon Musk is Now the Largest Twitter Shareholder (4/4/2022)

      and the leftist twitterati are crying their little eyes out about it. they’re already imagining what might come out of it. they know it probably won’t be good for them.

      in the meantime, both styx and saltine boy think musk’s brain implants are a giant conspiracy to take over the world. neither of the brainiacs seem to know that the first things he’s trying to fix are spinal injuries and maladies like alzheimer’s disease and MS. and the second thing they miss is that musk has no intention of forcing anyone to get any implants. as a matter of fact, at first they’re going to be very expensive. but as they scale up, the prices will drop for everyone. that assumes that the psychos in charge of both fiscal and monetary policy, haven’t fubared the dollar by then. (most people don’t believe this, but fiscal policy is actually more important than monetary policy. however, we need to improve both).

      1. Musk is a snake oil salesman. Have you seen the inside of that Boring Loop in Vegas? One car fire and everybody burns to death. I don’t even know how that thing was approved. Well, I think I know, but it is completely unsafe.

        That being said, I love that he gets the libtards’ panties in a bunch. Hopefully he reinstates DJT’s account by flexing his shareholder muscle. Would love to watch the TDS from on high.

  27. Soros-installed DAs & Democrat-Bolshevik apparatchiks must take a dim view of BLM activists who divert funds intended to sponsor Communist insurrection to live the high life.

    Black Lives Matter secretly used $6 million in donations to buy luxurious 6,500-square foot mansion with seven bedrooms and parking for 20 cars in Southern California in 2020 where leaders have filmed YouTube videos

    https://www.dailymail.co.uk/news/article-10685303/Black-Lives-Matter-secretly-used-6-million-donations-buy-luxurious-6-500-square-foot-mansion.html

  28. The long-term socioeconomic costs of the central bankers’ housing bubbles are going to be staggering.

    ‘Time bomb’: Housing problem costing Australia hundreds of millions every year

    https://www.news.com.au/finance/real-estate/buying/time-bomb-housing-problem-costing-australian-communities-hundreds-of-millions-every-year/news-story/8c915292200ee854c173c8dc9f7a53d6

    A neglected problem at the core of Australia’s property market is causing increasingly disastrous consequences, new research shows.

    A dearth of social and affordable housing in Australia is costing communities tens of millions of dollars per year, and placing a “time bomb” at the heart of our economy.

    That is according to new analysis from Dr Andy Nygaard, an Associate Professor at Swinburne University of Technology’s Centre for Urban Transitions.

  30. Just don’t buy,and you won’t have to worry about becoming collateral damage in the final housing bubble collapse.

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