thehousingbubble@gmail.com
Blog

That Gusher Of Essentially Free Money Is Now Dry

A report from the New York Times. “Luis Solis, a real estate agent in Portland, Ore., marked a milestone weekend late last month. It was the first time in two years that one of his listings made it to Monday without any offers. This particular house was listed at $500,000, and after a Saturday open house there were promises of at least three bids, including one for $40,000 over the asking price. Then Monday came, and there were none. Then Tuesday, and Wednesday.”

“An offer finally came in, but instead of being 10 to 15 percent higher than the listing — something that became almost standard at the height of the coronavirus pandemic’s housing market — it was right at $500,000. And it was the only one. And the buyer took it. ‘We didn’t have the competing offers that would drive up the price,’ Mr. Solis said. ‘It’s not crazy like it was.'”

“So far, the greatest signs of the housing market’s slowing have shown up on the West Coast, where the budgets of aspiring buyers seem to have been broken by rising interest rates. In California, for instance, home tours in the last week of March dropped from a year earlier. Redfin has also seen fewer prospective buyers reaching out to agents, and a decline in search activity for homes.”

“‘We’re seeing some early indications that a growing share of home buyers, especially in expensive coastal markets, are getting priced out,’ said Daryl Fairweather, chief economist at Redfin. ‘What I’m expecting is for homes just to start getting fewer offers, and sellers will have to give up some of their power. It will eventually filter down to prices.'”

From Bloomberg. “If you’re wondering where the U.S. real estate market might start to show its first cracks, keep an eye on Boise, Idaho. The pandemic work-from-anywhere revolution transformed it into one of the hottest markets in the U.S., but home prices are leveling off there. Typical home values in Boise rose just 0.4% last month, down from a 4.1% monthly pace in June, according to Zillow data.”

“The incredible pace of gains was never going to be sustainable, of course, and that’s true of many of the pandemic-era miracle markets, even if you’re ultimately bullish on their long-term prospects. The slowdown is hitting some Western mountain towns now, but it’s also likely to catch up with Austin, Texas; Phoenix; and Tampa, Florida, among others. For all their lifestyle appeal relative value compared with California or New York, some of these markets compressed a decade worth of home price appreciation into a couple of years — a development that became downright unhealthy.”

The Chicago Tribune in Illinois. “‘Some sellers don’t realize interest rates will affect the price they will sell their property for and the time it will take to sell,’ said Amy Kite, owner of the Kite real estate team. ‘Sellers need to understand the buyer who makes them an offer today may reduce their purchase price as interest rates increase. We have seen this happen in the last couple of weeks. Sellers need to understand the real estate market has shifted and they may need to negotiate a little more than they did in the past and certainly plan on it taking longer to find a buyer.'”

The Sacramento Bee. “CalPERS’ decision to abandon development plans for the tallest office tower in Sacramento will end up costing the pension plan tens of millions of dollars once all the tallies are calculated. It also draws to a close one of the last failures of the pension plan’s speculative real estate investment program that imploded during the financial crisis in the late 2000’s. While most of the failed investments are long gone from CalPERS current $40 billion real estate program, the project at 301 Capitol Mall was still listed as an active project until last week when pension plan CEO Marcie Frost said CalPERS was abandoning development efforts.”

“Even in the boom real estate market of 2006, the Capitol Mall project might have been too ambitious for Sacramento. The project included more than 700 high-end condominiums that started at $360,000 a unit. ‘I think most people were of the opinion that it was aspirational, that actually accomplishing a project of that scale was problematic,’ said Randy Getz, an executive vice-president at commercial real estate firm CBRE’s Sacramento office. ‘I don’t think a lot of people were surprised when the deal blew up.'”

The Globe and Mail in Canada. “If home prices stagnate or even fall over the next couple of decades, the reverse is true. People who have strained to gain a foothold in today’s real estate market will face years of zero or negative returns on their investment. The truly lucky people will be those who avoided buying a house at today’s lofty prices. In talking to housing market experts in recent months for other stories, I’ve been struck by how unsure even the gurus are about the long-term outlook for home prices. As one economist said to me, ‘There is no more efficient way to look like a fool than to make a housing price forecast.”

“The most likely catalyst for declines would be significantly higher borrowing costs. In early 2020, the Bank of Canada dropped interest rates to nearly zero to cushion the economic blow of the pandemic. That gusher of essentially free money helped propel home prices more than 30 per cent higher over the next couple of years. The gusher is now dry. In an emphatic reversal of its pandemic-era policy, the Bank of Canada doubled its key policy rate this week and signalled more hikes will follow.”

From Toronto Sun. “On Wednesday, after much anticipation, the Bank of Canada doubled the benchmark interest rate from 0.5% to 1%, marking the most aggressive rate hike since 2000. With the goal of reigning in inflation, this increase was far from a surprise. At some point, the flow of cheap money that floated us through the pandemic was sure to slow down. But for Canadians accustomed to cheap money while carrying record levels of household debt, and also facing rising costs in most every aspect of their life, it’s a sobering moment made all the more daunting by the reality that this is simply one of a number of rate bumps we are likely to see this year.”

“In the immediate short-term there will be people who have already bought at the peak and have been prepping their houses to sell. Now say they don’t read the paper or their agent doesn’t pay much attention to this market, they might have no idea what’s underfoot. They might still be banking on listing low and waiting for the bullies to roll in. They will likely wonder why they’re not being swarmed with showings. They will certainly be shocked when offer night rolls around and no one shows up to bid. Then, you can bet, they will be panicking.”

“I say this because this is exactly what is already happening. Last week, I watched as offer nights came and went on four houses that would have inarguably been a bun-fight mere weeks ago. Good, though maybe not great, houses in desirable neighbourhoods that pandemic buyers would have absolutely flung themselves at, in no way dissuaded by a bizarre layout, a mutual drive, or location on a busy corner.”

“The urgency has now vanished from the marketplace. The FOMO is gone. Buyers are still out there, absolutely, though perhaps in smaller numbers but certainly more inclined to sit back and wait. Those houses will surely sell, but it won’t be in the blowout we have grown so accustomed to seeing.”

“For those already feeling the agonizing pressure of how to make ends meet, this could well be more than a sting — it could be a death blow. Like the novice speculators who casually picked up an investment condo or two without ever considering the concept of negative cash flow. Or the buyers who paid Toronto prices for preconstruction in the ‘burbs who will find themselves unable to close after the bank appraises the property at less than they paid for it.”

From Mansion Global on the UK. “A grand Surrey estate known as Bishopsgate House has returned to the market for £32 million (US$41.8 million) after initially listing for £50 million) in 2018. ‘Despite the noise about overseas buyer demand returning after the pandemic it is a very price sensitive market,’ Becky Fatemi, director at Rokstone, told Mansion Global. ‘You cannot stretch or tempt a buyer out of their price bracket this spring, they will only view what is firmly in their range.'”

“Ms. Fatemi told Mansion Global, ‘The family have left the property and don’t live there anymore. They have moved on. Although they have had rental offers they are now extremely motivated to sell, hence the significant price adjustment.'”

From Stuff New Zealand. “There’s a cruel irony that it’s the cost of living and inflation helping to send house prices tumbling. After giving house hunting a break, I was surprised to find myself alone at several open homes in Wellington recently. I noted uncleaned, untidy properties, without building reports or LIMs, before walking out the door again.”

“After many years of having the upper hand, vendors may find themselves in an uncomfortable position: a buyer’s market. I know what you’re thinking – stories of vendors with million-dollar stars in their eyes struggling to get the For Sale sign off their lawn are unlikely to move anybody, particularly when people are having to choose between eating, or putting fuel in their vehicle.”

“It’s both my privilege and my terror that I’m now both buyer and seller. One of those open homes resulted in a successful offer, and now I’m wading into the territory of first-time vendor. When I contemplated selling about a year ago, I had real estate agents leaving me chocolates and calling cards – one even offered to help me finish my renovations. This time, I detected a slight grimace when I asked whether it was realistic to secure a sale within seven weeks.”

“It’s funny how the heady years of astronomical price growth turn you into a greedy homeowner, though. Faced with the reality of what my sweet home of four years might sell for, I’ll admit, I was disappointed. Those who took on million-dollar mortgages in those blissful days of 2.5 per cent interest rates, and 10 per cent deposits, are probably sweating more than me. Or spare a thought for those who bought homes off the plans for a small fortune, and are now in a parallel universe where their home still hasn’t been built in a market that’s down turning.

Related Posts
This Post Has 107 Comments

  1. ‘‘Sellers need to understand the buyer who makes them an offer today may reduce their purchase price as interest rates increase. We have seen this happen in the last couple of weeks’

    Oh dear…

    1. The narrative has shifted from higher interest rates being a buyer’s problem to a seller’s problem.

      1. “…a seller’s problem.”

        Indeed. In addition to the house not being paid off it likely has an adjustable rate mortgage adding stress to sale.

  2. ‘In early 2020, the Bank of Canada dropped interest rates to nearly zero’

    They cut rates three times in one month.

    ‘That gusher of essentially free money helped propel home prices more than 30 per cent higher over the next couple of years. The gusher is now dry’

    What could possibly go wrong? 30% in a year is bat sh$t crazy and the central bankers know it.

    1. “30% in a year is bat sh$t crazy and the central bankers know it.”

      But totally dumbed-down ignorant pukes don’t know it – but they are (slowly and painfully) in the process of finding out.

      Sometimes the viewing the experiencing of a learning curve by an ignorant puke can be a beautiful thing to behold.

      1. “But totally dumbed-down ignorant pukes don’t know it – but they are (slowly and painfully) in the process of finding out.”

        I suspect some of them did know, at least on a sub-conscious level, but let their emotions cancel out that intuitive voice telling them to be cautious. Then, after the deal is done, the fantasy high wears off, the reality hangover kicks in…and unsurprisingly, we read articles telling us 75% plus “bubble buyers” are experiencing “buyer’s remorse” Surprise!!

        With average down payments ranging from 6 to 12 percent, when the bubble bursts and prices plummet, they’ll bail just like folks did in 08′.

    2. What could possibly go wrong? 30% in a year is bat sh$t crazy and the central bankers know it.

      Yet the FED deliberated for months over whether to sharpen their pencil on a .25% or .50% rate hike, settling on .25%. They had to show how tough they’re getting on inflation, send a message.

  3. ‘People who have strained to gain a foothold in today’s real estate market will face years of zero or negative returns on their investment’

    Winnahs!

    ‘The truly lucky people will be those who avoided buying a house at today’s lofty prices’

    Well now you tell us.

    1. “ it was right at $500,000. And it was the only one. And the buyer took it”

      Suzanne researched this! You can do this!

      1. “Suzanne researched this! You can do this!”

        That ad said a thousand words…Jesus, that pathetic husband, trying to exercise caution and then his realization that if he didn’t go along, his house-horny wife would make his life a living hell. So he caves, trying to convince himself, making some lame statement about the garage. We all know, the real life couples in that scenario resulted in the husband getting lambasted by her when the market crashes. “Why weren’t you more careful!” LOL!!

  5. ‘they might have no idea what’s underfoot. They might still be banking on listing low and waiting for the bullies to roll in. They will likely wonder why they’re not being swarmed with showings. They will certainly be shocked when offer night rolls around and no one shows up to bid. Then, you can bet, they will be panicking’

    Winnahs?

    ‘I say this because this is exactly what is already happening’

      1. I saw stuff like that when I visited Vietnam for a week back in 2008. They had very few, if any, full-sized cars on the road, and almost everyone tooled around on little single-rider scooters. There were few stopsigns, traffic lights, or cross walks in many areas, so crossing a busy roadway required bravely wading into the steady stream of scooter traffic and trusting their ability to avoid hitting you…like the Biblical parting of the waters. I saw more traffic accidents during the very limited portion of my stay spent in traffic than I have in 15,000+ U.S. driving miles for typical year before the pandemic.

        Another distinct impression I had from the trip was of the highly inflated Communist party currency. $60 American was enough to make me an overnight millionaire in Vietnamese dong. And today the privilege would only set you back $43.67.

        1. “$60 American was enough to make me an overnight millionaire in Vietnamese dong.”

          You could have had a harem like Tom Vu!

    1. The problem with the real estste inflation hedge theory is that U.S. investors have viewed real estate as such at least back to the Great Inflation of the 1970s. This go round, the desperate rush of highly leveraged speculators of all means into real estate has already inflated its price far above fundamental value, killing its usefulness as an inflation hedge. This is doubly so, now that the Fed is trying to reclaim its grip on runaway inflation.

      I recommend that you leave real estate investment to the pros at Megabank, Inc and figure out another inflation hedge strategy that works for you personally. Human capital investment in your own skill set might be a good choice. Wages increase both with better skills and with inflation, and you don’t pay any taxes on it until you transform it into wages.

      1. Good advice. I would add to then create a stash for the inevitable bust because there will be life changing deals available at the bottom. There will be entities with pages full of properties that they need to dispose of, it happens every time. For instance, The Resolution Trust Corporation was a temporary federal agency created to resolve the savings and loan crisis of the 1980s. They were tasked with cataloging and disposing of bank owned properties in every region of the country. At the end they were practically giving them away. During the last bust, Fannie, Freddie and their siblings all had websites dedicated to unloading thousands of properties for big discounts. For the best deals, you will need cash.

    2. “‘US average annual mortgage payment 👇 The 2005/2006 bubble looks almost cute compared with recent developments.”

      When it comes to shacks purchased in at least the last seven years in my neck of the Hood Region IV…

      https://youtu.be/ZB52NEPJxUs

      1. Martin Armstrong was recently forecasting that the long term interest rate trend has reversed and this is the beginning of a new era of rising interest rates. I was thinking it won’t last and the Fed will reverse course by the spring of 2023. Either way it seems we will be living in the proverbial interesting times.

        1. . I was thinking it won’t last and the Fed will reverse course by the spring of 2023

          Isn’t that what the Canadian central bank did last time? IIRC, Canada’s bubble took a breather, then charged forward.

        2. recently

          Since the unfolding death of the petrodollar and the economic sanctions against Russia that’ll hurt the West far more than Russia?

        3. I was thinking it won’t last and the Fed will reverse course by the spring of 2023.

          This is the wishful thinking narrative of all of the speculators.

        4. By spring 2023, the economy may be in a full blown stagflationary recession, with the Fed in panic mode over whether to experiment with some more Quantitative Easing and balance sheet expansion, despite how badly the current experiment ended.

    4. Just look at the trajectory. This is what happens when you print money like Weimar Republic. Jerome Powell should have been fired 18 months ago.

      1. His whole crew should have been fired too since they were all insider trading on their own bad policies. “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”

    5. When I see Yellen’s smug troll face smiling and saying “it’s better to do too much than not enough” I am disgusted to a level words cannot describe. These filthy scvm use our currency to intentionally blow bubbles and destroy the standard of living for the masses. Their “wealth effect” is bullsh!t. We need to rethink the central bank and get rid of the FED in its current state.

  7. Easter is about the death and resurrection of Jesus, but the most important teaching of his life is when he flipped over the money changers tables in the temple.

    There is nothing “Christian” about usury or paying interest to banks.

    1. Amen to that (to use the Christian phrase). And yet elaborate mathematical theories and entire industries have been constructed on the premise that money is supposed to earn interest without any effort on the part of its owner. As if you just put coins in a piggy bank and come back later and somehow there are magically more coins than there were before. The reality check on this idea can’t come soon enough for me.

    2. but the most important teaching of his life is when

      I would say that the most important teaching of His life was that he was willing die for our sins.

      2. Agreed. Grace, mercy & redemption are what the human race needs most right about now. And charity for the deserving. Although taking a whip to the thieves in the temple wouldn’t go amiss, either.

    3. There is nothing “Christian” about usury or paying interest to banks.

      Hillaire Belloc had plenty to say about that in The Crisis of Civilization. He blames the reformers for allowing usury to be introduced into Christendom.

    4. “There is nothing “Christian” about usury or paying interest to banks.”

      A true Christian wouldn’t borrow more than could be repaid.

      1. Well I think repayment is always speculative to some degree, so if you followed that rule you wouldn’t borrow at all. And then there’s the whole thing about forgiving your debtors.

    5. Easter is about the death and resurrection of Jesus

      You mean it’s not about colored eggs, candy and gifts?

    6. “There is nothing “Christian” about usury or paying interest to banks.”

      Lesson: Don’t Be A Debt Donkey….But I’ll sure lend my cash and charge whatever rate I want to whomever I want…. Kinda like banks.

  8. To all who observe Easter, let this be a day of new beginnings and renewed hope. Peace & goodwill to all.

    “Let us feel what we really are— sinners attempting great things. Let us simply obey God’s will, whatever may come. He can turn all things to our eternal good. Easter day is preceded by the forty days of Lent, to show us that they only who sow in tears shall reap in joy.”

    John Henry Newman

    1. “And the one seated on the throne said ‘Behold, I make all things new'” – Rev 21:5

  9. From the Boise, ID piece: “According to Oxford Economics, Boise home prices are now about 70% higher than what the median household income of city residents suggests they can afford, worst in the U.S. when Oxford last updated its ranking.”

    In a true market with real risk this level of appreciation would never happen. It’s as phony as the “I can’t breathe” riots preceding Biden’s presidency, which were fomented by paid agitators positioned strategically around the country.

  10. AirB&B hosts who refuse to rent to vibrants can be sued for being rayciss. But if vibrancy breaks out at their property, as it is wont to do, they can be held financially liable for that, too. Sounds like a lose-lose scenario.

    Mass shooting at Pittsburgh house party leaves 2 juveniles dead, several injured trying to escape

    https://nypost.com/2022/04/17/mass-shooting-in-pittsburgh-leaves-11-injured-2-dead/

    A mass shooting at a house party in Pittsburgh early Easter morning left two juveniles dead and several others injured trying to escape, police said.

    The gunfire unfolded at an AirBnB property being rented on Madison Avenue shortly after 1 a.m. on Sunday. Authorities estimate as many as 200 people were at the house.

    About 50 rounds were fired inside the home forcing partygoers to jump out of windows and suffer broken bones and lacerations.

      1. From Wikipedia

        “Having a Party” is a song by American singer-songwriter Sam Cooke, released on May 8, 1962 by RCA

        The session’s mood “matched the title” of the song, according to biographer Peter Guralnick, as many friends had been invited. “It was a very happy session,” recalled engineer Al Schmitt. “Everybody was just having a ball.

        From Wikipedia

        The Great Society was a set of domestic programs in the United States launched by Democratic President Lyndon B. Johnson in 1964–65

        New York Post
        April 17, 2022

        Mass shooting at Pittsburgh house party leaves 2 juveniles dead, several injured trying to escape

      1. Adams said. “We can’t be hypocrites.”

        Is Hizzonor afraid of losing control of the golem?

    1. It’s going to take more than boos and protests to send these creeps packing. They will be more than happy to lock down Oz again should they decide that’s what they want to do.

  12. The use of the U.S. military as a social engineering testbed is going to yield catastrophic results when the U.S. goes up against non-woke adversaries like China. These “equity” plans dreamed up by PC Commissars are only going to accelerate the exodus of white male officers and NCOs out of our “woke” military.

    Pentagon rolls out ‘equity’ plan

    Defense to equalize outcomes for employees, partners across racial, sexual and gender lines

    https://www.foxnews.com/politics/pentagon-equity-plan

    The Department of Defense issued an equity report, aiming to equalize outcomes for employees and partners across racial, sexual and gender lines.

    The DOD released its equity report alongside all other departments of President Biden’s administration this week. In the text, the DOD explained a series of procedural changes to better align with the White House’s demands for “equity.”

    1. Joint Special Operations Command has become a self functioning military within the military. The larger visible military is quickly becoming another government diversity employer. No problem though as a future administration will easily thin the herd with a height vs weight chart.

    1. The Financial Times
      Coronavirus pandemic
      China’s Covid death data obscure real impact of Omicron, experts say
      Official statistics show only two people have died since March despite tens of thousands of cases
      Workers in Shanghai deliver oxygen cylinders outside a hospital during coronavirus lockdown on Thursday
      Workers deliver oxygen cylinders outside a hospital in Shanghai, where the city’s 26mn have been under lockdown for weeks
      © Aly Song/Reuters
      Eleanor Olcott in Taipei, Sun Yu in Beijing, Oliver Barnes in London, Andy Lin in Hong Kong
      April 16 2022

      The way China classifies coronavirus cases and reports deaths is obscuring the true impact of the Omicron wave and complicating its public health response more than two years into the pandemic, according to medical experts.

      Authorities have reported more than 443,000 cases since March 1 and only two deaths, both in the northeastern province of Jilin. No fatalities have been recorded in Shanghai, despite the city of 26mn reporting more than 20,000 daily cases for almost two weeks. Several Shanghai residents have also told the Financial Times that their relatives died after testing positive for Covid-19.

      Experts believe the low official toll is the result of shortcomings in the way China counts deaths, and that more people have been killed by the virus.
      …

      1. I’m guessing that by any objective measure, the official CCP response to the virus has been far more harmful than the virus itself. The Biden regime & DNC must be green with envy at their CCP ideological mentors’ ability to wield such arbitrary, unchecked tyranny and control over the populace.

        1. The ADV china guys have a new channel where they post short videos from the longer one on their regular channel. (I’ll post a link next time I see it). They have been all over this so called crack down. A lot of video that is put out has been laughably staged. Stockman made a good point in the article yesterday that China is purposefully clogging supply chains using tactics like this. Remember when they shut down the 3rd biggest port in the world cuz of one “case”? Something is going on behind the scenes. Why would China go to such lengths to create inflationary problems?

          2. Why would China go to such lengths to create inflationary problems?

            We’re more vulnerable than we have been in the entire history of the CCP.

          3. Stockman made a good point in the article yesterday that China is purposefully clogging supply chains using tactics like this.

            Exactly. The globalists who offshored our production should be swinging. They put us in such a vulnerable position that we are not even able to ramp up production in times of war, and now our enemy is playing games with us, withholding supplies we need.

          4. I wonder if there is a real food shortage in China and locking citizens down and providing them with meager rations is a way to handle it? At this point I don’t what to believe, nothing they do makes sense.

          5. if there is a real food shortage in China

            Another explanation is more likely. Besides, would a national food shortage hit Shanghai first?

            Everything Communism touches turns to crap.

          6. Another explanation is more likely.

            Most likely. Is travel between other Chinese cities restricted? If so, they too are locked down, just not as draconianly. Was it you who mentioned an acquaintance who can’t travel back to her home in China?

          7. No, I mentioned the girl whose parents are locked down in their home in the Shanghai, not getting enough food.

      2. Experts believe the low official toll is the result of shortcomings in the way China counts deaths, and that more people have been killed by the virus.

        Our guys are just dying to lock us down again, and are busy trying to scare us into submission.

        1. The object of the globalists’ “Two Minutes of Hate” campaign switched pretty abruptly from the unvaxxed to RUSSIA RUSSIA RUSSIA. The sheeple might get cognitive dissonance if the state-sponsored hate campaign switches back to the unvaxxed at a time when the spike in “sudden unexplained deaths” is something the elites would like to sweep under the rug.

        2. Our guys are just dying to lock us down again, and are busy trying to scare us into submission.

          You must watch CNN or something. I haven’t seen any scare tactics and have been going about my life as usual this entire time.

          1. I occasionally check the MSM. It’s easy peasy to find such articles. The current Narrative is that we are letting our guard down and we’re going to get walloped by the next variant unless we get another booster and mask up.

          2. If you ask me, they’re saving the scare tactic until the fall. They’ll be after masks and boosters to “prevent” new variants from spreading as we all come back inside and go back to school, try to vote, etc.

          3. Same here. Personal life has returned to normal in 2022, to the extent it wasnt in 2020-2021. Workplace is gradually catching up.

            And based on a recent trip to The Happiest Place on Earth, the pandemic is over at The Magic Kingdom.

          4. the pandemic is over at The Magic Kingdom

            Have they loosened the park hopping rules and reservations in addition to passes?

            (I know Disney’s evil but my kid doesn’t understand that.)

          5. If you ask me, they’re saving the scare tactic until the fall.

            My thought as well. They will keep beating the drum for now, but I expect the big guns to come out later this year, with more threats of severe illness and death. I’m sure many will simply not comply, but many will. IIRC, Philadelphia has already reinstated its indoor mask rule, and I expect other blue areas to do the same.

          6. IIRC, Philadelphia has already reinstated its indoor mask rule, and I expect other blue areas to do the same.

            Two pending lawsuits may impede those efforts.

  14. This is why malls in America are doomed. Between rampant theft, packs of roving “juveniles” up to no good, and “gun violence,” white and Asian customers will order online rather than risk becoming victims of ferals.

    Man, 22, is arrested after shooting at South Carolina mall that saw nine people shot and five others injured while trying to flee in panic

    https://www.dailymail.co.uk/news/article-10725777/Police-arrest-suspect-South-Carolina-mall-shooting.html

    1. This is why God invented sweaters, electric blankets, and space heaters. Heating your entire house to keep your bed warm is a huge waste of money and energy.

  16. Wait for it…the CCP’s Democrat-Bolshevik ideological disciples are going to start agitating for our creepy Orwellian social media platforms to implement similar technology aimed on silencing online free speech and identifying those guilty of BadThink or dissenting from globalist-approved Narratives. Forward, Soviet!

    Chinese social media to display user locations based on IP address, including platforms from ByteDance and Zhihu

    https://www.scmp.com/tech/big-tech/article/3174487/chinese-social-media-display-user-locations-based-ip-address

    Several Chinese social platforms, including Quora-like Zhihu and the domestic version of TikTok, Douyin, announced on Friday that they will soon display user locations based on internet protocol (IP) addresses, a feature that users cannot disable.

    The platforms said the measure, which is not mandated by law, is meant to “prevent netizens from pretending to be locals and spreading rumours”. Other platforms implementing the change include TikTok owner ByteDance’s news aggregator Jinri Toutiao, Douyin short video rival Kuaishou, and lifestyle community Xiaohongshu, which all said locations will be visible on user profiles. Zhihu, China’s popular question-and-answer site, said user locations will be displayed alongside each post.

    Weibo has already been displaying locations on user profiles since announcing the move last month, citing fake information related to hot topics like Russia’s invasion of Ukraine and the Covid-19 pandemic.

          2. In Firefox open that San Diego URL, then press F9 key to enter “reader view,” a condensed view without the javascript, frames, etc.

            In Brave you have to add an extension to get the “reader view.” They are: Reader View Plus by Rebecca Herzog, Reader View by YoKris.dev, and Reading Mode by Carl Smith. Reader View by YoKris is the best, as it provides the most options.

      2. Somewhat related:

        San Diego startups see steep drop in investment after record year

        “The region rang up $920.7 million in startup funding to start the year — down 70 percent from the $3 billion raised by local firms in the same quarter last year.”

        “But after seven straight quarters where funding averaged more than $2 billion for local startups, the drop-off seems to signal a pause.”

        Last year, San Diego County pulled in a record $9.6 billion in startup investment, up 55 percent from 2020, which itself was a record.

        There has been skepticism as to whether these fundraising levels were sustainable. They were driven in part by a wide-open window for young companies to go public over the past two years. More than 20 San Diego area companies did.

        Now that IPO window has closed — at least for the time being — as inflation and the war in Ukraine sparked a market downturn. IPOs and exits of VC-backed startups came to a near halt during the first three months of the year nationwide, with only $33.6 billion in exit value posted after three consecutive quarters of over $192 billion.

        “The start of 2022 has shown signs of an expected adjustment for the VC industry on the heels of a two-year period where VC-backed startups served as the backbone of the U.S. economy during the global pandemic,” said NVCA Chief Executive Bobby Franklin in a statement. “Where the slowdown will taper off remains to be seen, but VC investors are in a strong position with ample dry powder amassed in recent years.”

  18. Any white male FedGov employees better start reading the writing on the wall when it comes to career advancement, as the Democrat-Bolsheviks’ marginalization and disenfranchisement of the melanin-deficient is about to become a lot more systemic and institutionalized.

    Biden administration rolls out ‘equity actions plans’ across gov’t agencies

    https://www.foxnews.com/politics/biden-administration-equity-actions-plans-across-govt-agencies

    More than 90 agencies have released plans.

    1. Comments

      roxella
      22 hours ago

      The department of agriculture was originally formed to help ranchers & farmers. There are now more employees in that department than there are farms in the country.

      1. The department of agriculture was originally formed to help ranchers & farmers.

        I’m gonna guess that today ranchers and farmers do their best to steer clear of the USDA.

      2. “The department of agriculture was originally formed to help ranchers & farmers.”

        Now they’re providing free lunches at the K12 schools.

  19. Biden admin resumes migrant flights to suburban New York: report

    Kyle Morris
    Fri, April 15, 2022, 10:11 PM·

    Members of the Post’s staff “watched as a group of migrant teens got off an Avelo Airlines plane” at the airport around 9:25 p.m. Thursday and “boarded three waiting buses that drove off about 50 minutes later,” the report stated.

    The Post reported that one bus traveled to Walt Whitman Service Area in Cherry Hill, New Jersey, and arrived shortly after midnight Friday morning. That bus contained “several teens” who left the scene with individuals who were waiting for them to arrive.

    Flight records revealed that the flight that landed at the Westchester airport left from El Paso International Airport in Texas with a stop in Jacksonville, Florida, the report said.

    “The resumption of flights is a big middle finger to hard-working New York taxpayers,” former Westchester County Executive Rob Astorino said, according to the outlet. “It’s frustrating. It’s outrageous.”

    In January, leaked footage was revealed which showed migrants being transported on secret charter flights under the cover of night from southern border states to Westchester, New York.

    https://finance.yahoo.com/news/biden-admin-resumes-migrant-flights-021131380.html

    1. “There seems to be a common denominator…”

      None of these shooters have ever owned a yacht. 🙂

    1. “Vanden Dries said they did file a police report and reported the theft to their homeowner’s insurance. But she said the deductible for the claim was $5,000, so she said there was no point in filing with them.”

      That deductible seems kind of high. WTF?

Comments are closed.