Nobody Else Was Bidding, Did I Pay Too Much?
A report from the Peninsula Clarion in Alaska. “The market in Seward has adapted to the competition, said Nicole Lawrence, the owner of Seward Properties. Another way buyers are trying to be competitive, Lawrence said, is by waiving the appraisal gap. That way of skirting the appraisal process, however, sometimes means homes are selling for more than they’re worth. ‘The houses aren’t selling for what they’re worth, but they’re becoming worth what they’re selling for,’ Lawrence said.”
Honolulu Civil Beat in Hawaii. “There’s one more group with an interest in keeping housing supply low: existing homeowners. It’s not just an issue in Hawaii, says Miriam Axel-Lute, editor-in-chief of Shelterforce, an online magazine that takes deep dives into housing issues. ‘The value of one’s home is frequently touted as not only an asset, but the asset, the retirement fund, the nest egg, the best way to build assets and achieve economic stability,’ she wrote. ‘And it’s not only the value of the home, but the expected appreciation of that home.'”
From KTNV in Nevada. “A robust housing market that’s showing signs of an adjustment. John Zenor loves his Centennial Hills home that he and his wife have lived in for the past 22 years, but to enjoy a more active retirement, they decided to sell it. It took some time to find that person. The 4 bedroom, 3 and a half bath home was listed at about $730,000. Zenor says there were multiple bids and a potential buyer was found. Due to lending issues, that buyer fell through and the search for a new one took a couple of weeks longer.”
“It’s a trend that’s been seen valley-wide. ‘Of those 12 showings, although great interest was expressed, only one person made an offer and that one person had cash,’ Zenor said. The available inventory of homes for sale went up about 22 percent from March. Zenor’s realtor David Lee says rising interest rates are playing a big part. ‘I do believe once it gets to the seven, eight, nine percent, that’s when we’ll see a majority of a slowdown come,’ he said.”
From 425 Business on Washington. “Industry representatives are seeing some signs the 26-county NWMLS region is taking a breath. There were 11,681 new listings of single-family homes and condos during April, the highest number since July. ‘The Puget Sound housing market has shifted down several levels of hotness in most areas and is more in alignment with the strong market we saw pre-pandemic,’ said J. Lennox Scott, chairman and CEO of John L. Scott Real Estate.”
“‘Did you hear that? It’s the sound of happy buyers in all areas other than King County celebrating last month’s jump in active listings as it means they now have more homes to choose from,’ said Matthew Gardner, chief economist at Windermere Real Estate. ‘We are starting to see signs of impact from the significant rise in mortgage rates earlier this year, such as an increase in active listings and months of inventory creeping higher, but the full impact will likely not be felt for a few months.'”
From Your Erie in Pennsylvania. “‘You have a lot of people looking, they’re not so worried about the interest rate because they know that if it would go down, they could refinance. It does hurt their buying power a bit when it goes up to five and a half,’ said Marsha Marsh, Owner of Marsha Marsh Real Estate Services. ‘The selling side will say ‘Oh, my neighbor got 20-30,000 over, so why can’t I?’ Well, because your interest rate is going to hurt those people that are looking that may be pushed up to a higher price point. Now, they have to go back down because they see what their monthly payment will be.'”
The Business Times in Colorado. “Real estate sales continue to slow on a year-over-year basis in Mesa County as higher prices and mortgage interest rates affect affordability. Robert Bray, chief executive officer of Bray & Co. Real Estate based in Grand Junction said higher interest rates have exerted a growing influence on the market. As sales have slowed, inventories have increased, Bray said. At the end of April, there were 266 active residential listings. That’s up 100 and 60.2 percent from the same time last year. More homes typically come on the market in the spring and summer. With persistent demand, Bray said the market remains healthy. ‘I don’t see anything that’s necessarily alarming.'”
“Meanwhile, property foreclosure activity continues to increase. Annette Young, administrative coordinator at Heritage Title Co. in Grand Junction said 104 foreclosure filings and seven sales were reported in Mesa County during the first four months of 2022. For the same span in 2021, there were six filings and 11 sales.”
The Houston Chronicle in Texas. “As homes rapidly become less affordable in Houston and nationally, pushing more and more would-be buyers to the sidelines, a phrase has begun bubbling up when talking about the market: ‘housing bubble.’ Some people cringe at the expression. ‘That’s a term that scares people,’ said Greg McBride, chief financial analyst for Bankrate.com. McBride said he’s already seen some homes reducing listing prices — although he warns against taking that out of context. Those homes were priced as though values would continue surging, so even with price reductions, they still are selling for higher prices than a year ago.”
“McBride said that slowing home price appreciation until wages can catch up is ‘the minimally painful way’ to remedy a housing market so out of balance between buyers and sellers. ‘The way we did it last time,’ McBride said, ‘when home prices just went so high they defied the bounds of all rationality and then they crashed hard — that obviously caused a lot of stress.'”
The Globe and Mail in Canada. “Toronto and Montreal brokers say plenty of properties are seeing fewer offers than just a couple of months ago when buyer anxiety was still driving frantic bidding wars, but that the slowing bids haven’t yet led to big price drops. Marc LeFrançois, a broker with Royal LePage Tendance in Montreal, has recently seen homes sell after receiving a single offer or a few, rather than the 20 that brokers were accustomed to dealing with months ago.”
“The fewer number of bids some properties are receiving have some of Mr. LeFrançois’ clients questioning why they should bid significantly over the asking price if sales are down. ‘The buyers are a bit hedgy. They’re worried when they buy a home and it wasn’t done under multiple offers,’ he said. ‘I’ve got a client this morning I was talking to him and he said, ‘Did I pay too much? Nobody else was bidding and it’s strange because the last two years it was 20 buyers for a home.'”
“Mr. LeFrançois has detected a shift in mentality, when a home gets listed and it’s still on the market three weeks later. Now, buyers increasingly try to rationally negotiate for these properties, instead of moving at the torrid pace they once would have, he said. Despite the shift in buyers’ thinking and the moderation of sales, Mr. LeFrançois said many sellers still have high expectations.”
“‘They see [the market] as a linear line going up,’ he said. ‘They say, ‘I’ve waited a little more so the market keeps going up’ and that’s going to be a little tough.'”
The Toronto Sun in Canada. “For months, the real estate market has had the momentum of a runaway train. ‘There’s definitely a shift happening in the market – a correction from the highs of the last couple of months,’ says Sung Lee, a Ratesdotca expert and licensed mortgage agent. ‘Offers are going in below list price. Anecdotally, we are hearing of a slowdown in showings and a rise in terminated listings. Sellers don’t quite have the advantage they’ve had previously.'”
From Smart Company. “Sydney construction firm Next has reportedly entered voluntary administration, as its owner seeks a deal with creditors to avoid total collapse. The Australian reports Next, focused on aged care and student accommodation buildings, is the latest constructor to falter. The firm has recruited administrators Hall Chadwick to handle its operations, as it works to resolve some $15 million in unpaid debts.B y entering voluntary administration, Next has joined the ranks of major builders like Condev and Probuild, and a growing number of home constructors in WA, all of which have collapsed in the early months of 2022.”
News Talk New Zealand. “Reserve Bank governor Adrian Orr was grilled by MPs today, telling them to ‘take a step back and just breathe’ when it comes to inflation. He told MPs house prices should drop 5 to 20 percent from current levels to be sustainable. Orr was asked about recent homebuyers who may then face negative equity or stress from higher interest rates, and said the bank had warned them.”
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‘The buyers are a bit hedgy. They’re worried when they buy a home and it wasn’t done under multiple offers,’ he said. ‘I’ve got a client this morning I was talking to him and he said, ‘Did I pay too much? Nobody else was bidding and it’s strange because the last two years it was 20 buyers for a home’
I’ve pointed this out several times. Bubble buyers are speculators who welcome overpaying, multiple blah, cuz it validates their expectations.
That said, as a general rule, one should stop bidding if yer the only one there.
do we consider most of the US having a ‘blind bidding’ system. WA and Seattle area certainly do. You absolutely have to trust that you realtor is steering you in the correct direction or you will overpay
“You absolutely have to trust that you realtor”
I don’t have to do anything. Nor do I trust Realtors.
Do you trust realtors?
or you will overpay
If you bought the nicest peach of a house right now from your closest blood relative at appraised value, you’d overpay by a mile. Did you miss the whole housing bubble thing?
‘104 foreclosure filings and seven sales were reported in Mesa County during the first four months of 2022. For the same span in 2021, there were six filings and 11 sales’
‘I don’t see anything that’s necessarily alarming’
Click!
The 2020 election was stolen.
Big time
‘Marsha Marsh, Owner of Marsha Marsh Real Estate Services. ‘The selling side will say ‘Oh, my neighbor got 20-30,000 over, so why can’t I?’
Can we talk Marsha? If yer name is Marsha Marsh, you might want to come up with a different company name than Marsha Marsh. It’s kinda sing-songy.
Russia Russia Russia. Like that. A bit too Brady Bunch.
‘a phrase has begun bubbling up when talking about the market: ‘housing bubble.’ Some people cringe at the expression. ‘That’s a term that scares people’
Point taken Greg. Still, what’s worse?
‘The value of one’s home is frequently touted as not only an asset, but the asset, the retirement fund, the nest egg, the best way to build assets and achieve economic stability,’ she wrote. ‘And it’s not only the value of the home, but the expected appreciation of that home’
Well that never blew up in anyone’s face before.
Belleair, FL Housing Prices Crater 28% YOY As Demand Dries Up On Toxic Market Conditions Across Gulf Coast Florida
https://www.movoto.com/belleair-fl/market-trends/
As one Tampa broker shared, “If I owned a house, I’d get out from under it as quickly as possible. The bottom of this is nowhere in sight.”
A reader sent this in:
Richard Christopher Whalen
“Mortgage banking and brokerage firms laid off 3,700 full-timers in March, according to seasonally adjusted figures released Friday morning by the U.S. Bureau of Labor Statistics.”
https://mobile.twitter.com/rcwhalen/status/1522576826509500423
Imagine April’s numbers. All of these statistics are lagging indicators. Things are much worse than reported.
If you want to read “misinformation” you should read the New York Times and the Washington Post.
Russia Today — White House outlines latest Ukraine weapons package (5/7/2022):
“Washington has authorized yet another tranche of weapons for Ukraine’s armed forces, agreeing to send tens of millions of dollars in munitions and military hardware following a flurry of similar transfers in recent weeks.
The White House announced the move in a Friday press release, touting the “historical amount of security assistance” provided to Kiev since Russia launched its attack on February 24.
The new assistance will be financed with funds freed up under the Presidential Drawdown Authority, which allows the White House to transfer arms from US stocks to foreign states without congressional approval. The fund currently has about $250 million remaining, more than half of which will go to pay for the latest aid package.
Though President Biden argued the weapons will go “directly to the front lines of freedom in Ukraine,” their ultimate destination may never be known. US officials have acknowledged that the arms become virtually impossible to track once they enter the active conflict zone in Ukraine, with one intelligence source telling CNN they fall into a “big black hole” soon after arriving.”
https://www.rt.com/news/555101-white-house-ukraine-weapons/
Zelensky is not a Christian.
And if you support him, neither are you.
Phony war propaganda image file — Light A Candle For A World Economic Forum Approved And CIA Installed Unelected Globalist Edition:
https://ibb.co/dkkn3qy
‘He told MPs house prices should drop 5 to 20 percent from current levels to be sustainable. Orr was asked about recent homebuyers who may then face negative equity or stress from higher interest rates, and said the bank had warned them’
It’s all forgiven then! How did you lose yer shack mate?
It was an a$$ pounding, but I were warned.
David Stockman on the Monetary Madness Among the Central Bankers
https://straightlinelogic.com/2022/05/06/david-stockman-on-the-monetary-madness-among-the-central-bankers/
“On the eve of the great financial crisis in 2007, their combined balance sheets stood at just $5 trillion. Today the figure is $31.5 trillion.
Need we say more?”
And they continue to operate completely unchecked. Bernanke said QE was temporary – a year. And here we are almost 15 years later and QE up the a$$, yet nobody even bothers to ask about Bernanke’s bullsh!t lies. He’s been enriched fantastically by Citadel, and Wall St. in general. Only a violent revolution is going to change things.
‘The houses aren’t selling for what they’re worth, but they’re becoming worth what they’re selling for,’ Lawrence said.”
I could get behind an REIC Disinformation Governance Board.
(houses) are becoming worth what they are selling for
The above has always been the mantra of Das REIC. The problem is that so many people believe in it.
A house is only worth what YOU are willing to pay. If someone else wants to pay more, then that used to be THEIR problem. Until the Fed and the GSE (Fannie and Freddie etc) mortgage enterprises started encouraging irresponsible purchase prices, combined with (of course) sticking the non-buyer and all taxpayers with the losses.
Zenor’s realtor David Lee says rising interest rates are playing a big part. ‘I do believe once it gets to the seven, eight, nine percent, that’s when we’ll see a majority of a slowdown come,’ he said.”
I bet David looks resplendent in his Captain Obvious costume.
“I do believe once it gets to the seven, eight, nine percent, that’s when we’ll see a majority of a slowdown come,’ he said.”
O David why be a lion…..At 5 percent we are seeing the majority of slowdown. Oh you mean collapse at 7. Ya, I got you.
** ” . . . captain obvious suit”
haha!
– If anyone does, this guy knows asset bubbles. Not really news here, but perhaps validation of the crazy “everything” bubble we’re now experiencing. Independent view; not RE sell side cheerleading of course.
https://fortune.com/2022/05/06/jeremy-grantham-fifth-great-bubble-of-modern-era-economy-housing-crisis/
FinanceEconomy
Legendary investor Jeremy Grantham says we’re in the fifth great bubble of the modern era—and warns the economy won’t ‘skate through’ a housing crisis
By Will Daniel
May 6, 2022 11:36 AM MDT
“Grantham argues the U.S. economy can weather dramatic drops in the stock market, as evidenced by the merely mild recession that surrounded tech stocks’ blowup during the dotcom bubble. But when it comes to a housing crisis, he says, the economy is unlikely to come through unscathed.”
“The dotcom bubble of “2000 showed you can just about skate through a stock market event, but Japan and 2008 showed you can’t skate through a housing crisis,” Grantham told Bloomberg in an interview published on Friday.”
“Grantham is convinced that we’re in the midst of a fifth great bubble of the modern era, following the Wall Street crash of 1929, the Japanese asset bubble of 1989, the dotcom blowup in 2000, and the Global Financial Crisis of 2008.”
“He argues that both stocks and the housing market have been lifted to unsustainable levels owing to speculation from investors and unsustainably loose monetary policies from the Federal Reserve.”
“Grantham—who is well known for accurately predicting the housing bubble and subsequent crash of 2008—warned late last year that a “day of reckoning” for the housing market would come.”
“Of course, not everyone is convinced that the housing market is set for a dramatic drop.”
– Of course. The sell side is selling. Are you buying? “Always be closing.” 🙂
– The Fed is the arsonist in the fire brigade. The Fed’s gotta go. Shut it down. End the Fed.
– Congress: Get off your a$$ and do something (positive) for your constituents for a change. Not feeling very represented here. At a minimum, torches and pitchforks coming…
https://twitter.com/NorthmanTrader/status/1522567082486939648?cxt=HHwWgICypbqsn6EqAAAA
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Sven Henrich
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First we made the rich insanely rich
Then we showered the poor with inflation
And now we’re manufacturing a recession to slow demand
We are the US Federal Reserve and we are here to help.
Vote for us!
Oh wait, you can’t.
7:20 AM · May 6, 2022·Twitter Web App
I just watched a Jeremy Grantham clip with Erik Schatzker on Bloomberg’s “Front Row” earlier this morning.
YT: “Calling a Super Bubble”
“‘Did you hear that? It’s the sound of happy buyers in all areas other than King County celebrating last month’s jump in active listings as it means they now have more homes to choose from,’ said Matthew Gardner, chief economist at Windermere Real Estate.
No, that’s the sound of stupid knife-catchers. The future happy buyers are still reclining in their lawn chairs, popcorn in hand, waiting for the bursting of the Fed’s Everything Bubble & the carnage that will play out when Housing Bubble 2.0 goes the way of its predecessor.
Oakton, Va Housing Prices Crater 22% YOY As Northern Virginia Housing Market Chokes On Rampant Mortgage Fraud And Soaring Defaults
https://www.movoto.com/oakton-va/market-trends
As a noted economist explained so eloquently, “It comes as no surprise that housing prices are plummeting. A house is a rapidly depreciating asset that empties your wallet.”
At the end of April, there were 266 active residential listings. That’s up 100 and 60.2 percent from the same time last year.
Is that a lot?
Article for Mother’s Day.
The Federalist — The Left Rediscovers ‘Women’s Rights’ After Reducing Mothers To Androgynous Birth Bots (5/6/2022):
“When earlier this week Politico reported a leaked initial draft majority Supreme Court decision that would eviscerate the landmark 1973 Roe V. Wade decision on constitutionally guaranteed abortion rights, it was tempting to be distracted by the left’s sudden “rediscovery” of women. Yet barely five minutes ago, this coalition of radicals and despots was waging an insidious information war laying siege to the very definition of “woman” and “mother.” The objective is to expand the concept of “woman” to include a hodgepodge of confused, abused, and opportunistic individuals who are either pretending they’re women, or deluding themselves that they’re not.
For the left, a “pregnant woman” is an expedient political pawn when she wants to extinguish the life of her unborn baby; the rest of the time, it’s an “offensive” phrase that could get you denounced for using “cisnormative” language. It’s time to stop pretending that the cultural Marxists ever wasted any love on women, their bodies, and their unique biological role as life bearers and nurturers.
Since the revolutionary feminists of the 1960s and 70s, they’ve been trying to destroy femininity and build it back better. Their chaotic platform has promoted vitriol against men, violence against the unborn, and now, irony of ironies, a denial that “women,” as an objective reality, even exist. Women would better serve their bodies, souls, and sanity by rejecting these demented lies and instead embracing a Christian understanding of motherhood and femininity …
the left’s histrionic defense of women’s access to abortion blows the whole “birthing people” nonsense out of the water. One cannot appeal to women’s so-called reproductive rights without acknowledging that women have an intrinsic biological function. Whether the “I believe in science” crowd accepts it or not, the human species has two sexes: female and male. The former is uniquely created to conceive, carry a child, and give birth. Humans are free to delve into the Book of Nature, which spells all of this out, but we didn’t author it and don’t get to re-write it.”
https://thefederalist.com/2022/05/06/the-left-rediscovers-womens-rights-after-reducing-mothers-to-androgynous-birthing-bots/
Violent Seattle pro-abortion activists assault their own side at protest
May 5, 2022
https://youtu.be/M1fsI8DDcEw
That was comedy gold.
“They’re not sending their best”
“They’re not sending their best”
and their bench isn’t very deep.
It is my understanding that there are plans to disrupt Masses nationwide tomorrow, on Mother’s Day. Not sure how real or widespread this threat is, but we should know by tomorrow.
Marxism is anti Christianity.
Globalism is anti Christianity.
The only way that the United States will survive as a nation is to re-establish itself as a Christian nationalist country with a revised Constitution that explicitly bans Marxism and Globalism.
“In the absence of orders, find something communist and kill it”
WEHT, separation of church and state?
That’s another part of the Constitution that needs revised. I don’t want to live in the same country with these people:
https://www.breitbart.com/politics/2022/05/06/vandals-desecrate-colorado-catholic-church-with-pro-abortion-messages/
Throughout history people have been butchered in crusades. Our fore fathers knew that religious groups are myopic, e.g., our way or the highway. Hence, they have no business in affairs of the state.
Our fore fathers knew
What they codified in the Constitution is that the government must not establish our churches, which seems kind of opposite to what you are saying.
With persistent demand, Bray said the market remains healthy. ‘I don’t see anything that’s necessarily alarming.’”
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
― Upton Sinclair
Annette Young, administrative coordinator at Heritage Title Co. in Grand Junction said 104 foreclosure filings and seven sales were reported in Mesa County during the first four months of 2022. For the same span in 2021, there were six filings and 11 sales.”
Gosh, I hope that’s not indicative of a bursting housing bubble.
Double post from the New York Post about the “most popular president in American history.”
The night I met Hunter Biden: Mac Shop owner John Mac Isaac recounts fateful encounter in exclusive excerpt (5/6/2022):
https://nypost.com/2022/05/06/mac-shop-owner-john-mac-isaac-reveals-night-he-met-hunter-biden/
Rep. Elise Stefanik — When Republicans take the House, we’ll finally get answers about Hunter and Joe Biden (5/6/2022):
“The corrupt Biden crime family has been unethically mixing business and politics for half a century, and now the American people have the smoking gun: Hunter Biden’s laptop. Hunter’s laptop provides indisputable proof of just how entangled and compromised “The Big Guy,” a k a President Biden, is in his son’s criminal behavior.
When Republicans take control of the House in the midterms, we’ll make sure to investigate as a matter of national security.
Hunter Biden is currently under investigation by federal prosecutors for a litany of criminal allegations. But for almost two years, Joe Biden, the 2020 Biden presidential campaign, the Biden administration, Congressional Democrats, the mainstream media, and Big Tech colluded to prevent the American people from knowing the truth that the Hunter Biden laptop was real.”
https://nypost.com/2022/05/06/when-gop-takes-the-house-well-get-answers-about-hunter-and-joe-biden/
The 2020 election was stolen, Joe Biden has no legitimate authority to govern anything, and Hunter Biden is going to prison.
https://www.dailymail.co.uk/news/article-10792305/Delaware-computer-store-owner-recalls-moment-Hunter-Biden-drunkenly-staggered-shop.html
But Honest Joe Biden and more than 50 former intelligence officials said it was Russian https://youtu.be/rfh4Mhp-a6U disinformation.
Hunter Biden story is Russian disinfo, dozens of former intel officials say
By NATASHA BERTRAND
10/19/2020 10:30 PM EDT
More than 50 former intelligence officials signed a letter casting doubt on the provenance of a New York Post story on the former vice president’s son.
https://www.politico.com/news/2020/10/19/hunter-biden-story-russian-disinfo-430276
“Despite having no demonstrable qualifications, why was Hunter Biden picked to manage a Ukrainian energy conglomerate, help facilitate the sale of a cobalt mine in the Democratic Republic of the Congo from an American company to a Chinese company, and provide counsel on the intricacies of Romanian criminal law?”
The simplest explanation is that Hunter is an amazing international deal broker and businessman. 🙂
Let’s not ignore his mastery with a paintbrush.
“The first step in liquidating a people is to erase its memory. Destroy its books, its culture, its history. Then have someone write new books, manufacture a new culture, invent a new history. Before long the nation will begin to forget what it is and what it was.”
― Milan Kundera, The Book of Laughter and Forgetting
Morehead City, NC Housing Prices Crater 21% YOY As Outer Banks and Coastal Carolina Housing Inventory Soars As Panic Selling Begins
https://www.movoto.com/morehead-city-nc/market-trends/
As one coastal Carolina broker explained, “Our entire market is vacation homeowners and 95% of want out right now. They see the handwriting on the wall.”
These “barrier reef vacation homes” would disappear if the heavily subsidized federal flood insurance program excluded these vulnerable high risk properties.
Questioning globalist-mandated dogma is a firing offense, since evidence of BadThink cannot be tolerated by our PC Commissars. Forward!
UK Train Worker Sues After Being Fired For Questioning “White Privilege” Training
https://summit.news/2022/05/06/uk-train-worker-sues-after-being-fired-for-questioning-white-privilege-training/
A train worker is suing a company who fired him for questioning “white privilege” diversity training during a conversation with his wife.
60-year-old Simon Isherwood, who works as a train conductor, was fired by West Midlands Trains for gross misconduct.
“After the diversity training held in March 2021, Isherwood forgot his microphone was still on and, speaking to his wife, some colleagues heard him questioning white privilege,” reports Reclaim the Net. “He was then reported by colleagues who were “angered” by the comments.”
“…reported by colleagues…”
Imagine spending 8-hrs/day with these thin skinned losers?
Latest from #ClownWorld
Book sent to more than 800 primary schools teaches children that person’s sex is ‘assigned’ to them at birth by a doctor and gender is a ‘sliding scale between male and female’
https://www.dailymail.co.uk/news/article-10792297/Book-sent-800-primary-schools-teaches-children-persons-sex-assigned.html
Don’t forget to give your Birthing Person a Happy Birthing Persons Day gift tomorrow!
New UK government data shows the COVID vaccines kill more people than they save
https://stevekirsch.substack.com/p/uk-government-data-shows-nobody-should?s=r
I’ve been asking everyone: Show me the all-cause mortality data proving the vaccines are safe. I finally got some data. It’s from the UK government and it’s devastating. REALLY devastating.
Vaccine mandates are medical genocide.
FRIDAY, MAY 06, 2022 – 08:00 PM
Radio Free Asia (RFA) China posted a video early Friday morning showing an uprising of hundreds of workers who were angered with the continuous “closed-loop production” (which means they were kept on-site and quarantined to keep production humming) at the MacBook factory in Shanghai, owned by Taiwan’s Quanta Computer Inc. The incident reportedly occurred Thursday evening.
“[Suspected of dissatisfaction with “closed-loop production” epidemic prevention is too strict] [Quanta’s Shanghai plant was shocked to hear that employees “rioted”] Shanghai Dafeng Electronics, a subsidiary of Shanghai Quanta, which has just partially resumed work, experienced an employee “riot” on the evening of Thursday (5th).
“As seen in the video, hundreds of young employees did not obey the command, jumped over the gate and ran away, and rushed out of the blockade to clash with the guards. It is reported that employees are dissatisfied with the epidemic prevention and control and want to go out to buy civilian materials,” RFA China tweeted.
https://www.zerohedge.com/markets/all-hell-breaks-out-apple-factory-workers-clash-guards-over-lockdowns
comment on this story from Infowars site
1 hour ago
Nobody here cares we want our cellphone, these slaves need to be tied to the whipping post.
Respect1
“Woke” Apple has no problem with slave labor and Orwellian oppression in China. Or here for that matter.
experienced an employee “riot” on the evening of Thursday
No doubt the workers were initially told weeks ago: “It’s just for a week, then it’s back to normal.”
And for what? This isn’t the black death. Any foreigners who are still in China need to get their heads examined and get out of Dodge while they still can.
Any foreigners who are still in China need to get their heads examined and get out of Dodge while they still can.
Wouldn’t have to tell me twice.
Empire of the Sun (1987) Official Trailer – Christian Bale, Steven Spielberg Movie HD
a href=’ttps://www.youtube.com/watch?v=i_WiDVA1kLY’>ttps://www.youtube.com/watch?v=i_WiDVA1kLY/a>
Dropped an h.
https://www.youtube.com/watch?v=i_WiDVA1kLY
I’ll have to check that out .
Christian Bale is terrific as the kid left behind. I think he was only 12 at the time.
Globalists gonna globe.
https://www.dailymail.co.uk/news/article-10791247/The-Mail-tracks-group-migrants-ushered-UK-four-star-West-London-hotel.html
You knew this was coming. Now the riff-raff can violate HOA rules with impunity. Welcome to the barrio!
Colorado Legislature Passes HOA Foreclosure Reform Bill
The measure limits homeowners associations’ ability to foreclose on residents who accumulate fines for violating community rules known as covenants.
https://www.propublica.org/article/hoa-homeowners-associations-colorado-foreclosure-violations
Colorado lawmakers passed a bill Monday aimed at protecting residents in disputes with their homeowners associations.
House Bill 22-1137 limits HOAs from seeking foreclosure against homeowners who accumulate fines for violating community rules known as covenants. The bill also stops HOAs from assessing those penalties on a daily basis and limits them to $500. The legislation now heads to Gov. Jared Polis, whose office said he plans to sign it into law.
The program, the Forgivable Equity Builder Loan, provides forgivable loans to homebuyers for up to 10% of the home’s purchase price.
https://ktla.com/news/california/new-california-program-lets-1st-time-homebuyers-borrow-down-payment-at-0-interest/
“Forgivable Equity Builder Loan”
“Hey Rocky…watch me pull a rabbit out of my hat!”
Rocky: “That trick never works!”
When I got a new truck a couple of years ago I saw a rally green LT1 (poor man’s SS) Camaro that put me through a 13/16 life crisis (I was 60 and way past midlife) I looked at a couple that were around until they weren’t . They discontinued rally green for the next model year, crisis over.
Went to a Barret/Jackson auto auction about 2 months ago and saw the Dodge booth which had a Challenger SRT Widebody Scat Pack with a Shaker hood, same thing 13/16 all over again.
I’m over it now too. Although both bad@ss cars that brought back memories of the early 70s muscle cars I was too young and too poor to own, $50k – $60k, stupid high insurance cost and not enough Sunday drives left in my life to enjoy either one along with common sense took over.
I saw a Blondie video today that made me think of all that. She was not only hot she was right. None of it cost me a dime, Dreaming is free.
https://youtu.be/FugtBP82OL0
Blondie — I Know But I Don’t Know:
https://www.youtube.com/watch?v=oMRxDBnOJfU
the early 70s muscle cars I was too young and too poor to own,
I had the ’70 Firebird, and survived. barely. A buddy of mine reconstructed it and sold it to me! Later I reconstructed it again. It got trashed a third time in a tornado and I gave it to an enthusiastic kid. I had the hot Brunette (Blondie wasn’t a Blond) and survived, barely. I still take adventures, but being in my 17/16 I doubt any of them are a mid life crisis. Going Walleye fishing with my son Monday. Life is good.
I’ve seen Deborah Harry’s (Blondie) High School Yearbook picture from the 60s, she wasn’t blond, but by the first time I saw her in about 1975 she was hot. I bet you have some good stories about that ’70 Firebird not to mention the hot Brunette (my keyboard is messed up or there would be a smiley face here).
Have a great time with your son Monday.
There’s no such thing as a “beach blonde.” Real blondes and strawberry blondes are typically from the northern latitudes where pale skin and fewer days of sunlight are the norm. Frolicking on the beach in a bikini all day long is a myth.
Frolicking on the beach in a bikini all day long
My Redhead always required a shade umbrella for such days, which were numerous.
There’s no such thing as a “beach blonde.”
But there’s such a thing as a bleach blond frolicking on the beach in a bikini all day long. Now they get to worry about sun damage and skin cancer.
My wife is really white albeit not as white as a freckled Irish lass. And she never spent much time in the sun other than lap swimming, which led to some skin damage on her upper back and shoulders. But she did get a skin cancer on her face that required scraping tissue and examining it under a microscope to be sure they got the bad cells before sewing her closed again. You can barely see the scar today; a great surgeon.
I have a divot on my right wrist from a squamous cell carcinoma that was removed before my 35th birthday.
Good that you caught it early.
– Filed under a) Pandering to your D base, but I repeat myself, and b) The lurch toward Communism: elimination of private property rights.
– U.S.A. is a nation of laws, so the important laws, such as private property rights are being dismantled.
– You will own nothing and like it, comrade! Complaints may be filed with your local Party official. Please be packed and ready for forced transport to the nearest gulag prior to filing your complaint! 🙂
1)
https://www.aptmags.com/blog/los-angeles-county-extends-the-eviction-moratorium-again/
Los Angeles County Extends the Eviction Moratorium Again
Written by Apartment Management Magazine on March 11, 2022. Posted in Blog
By David Piotrowski, Law Offices of David Piotrowski
“The “temporary” Los Angeles County eviction moratorium has been extended again and this time, many parts of the moratorium will remain in effect for all of 2022 and even into 2023! The Board of Supervisors has expanded the eviction moratorium and encouraged incorporated cities to create permanent rent control that would take over once the so-called “temporary” Los Angeles County eviction moratorium expires. The Board has created a three-phase plan to end the protections unless the Board decides to extend/modify the moratorium again in the future.”
2)
https://www.planetizen.com/news/2022/01/115759-las-pandemic-rent-cap-stay-place-until-2023
“L.A.’s Pandemic Rent Cap to Stay in Place Until 2023“
“Landlords have been unable to raise rents on rent stabilized apartments in Los Angeles since March 2020. Unlike in other large cities with similar rules, Los Angeles won’t be removing the rent cap anytime soon.”
January 6, 2022, 9:00 AM PST
By James Brasuell @CasualBrasuell
“Landlords in Los Angeles “are prohibited from raising the cost of more than 650,000 rent-stabilized units citywide, which represents nearly three-quarters of L.A.’s apartment stock,” according to an article by Liam Dillon for the Los Angeles Times.”
“The prohibition was one of the measures signed into law by Mayor Eric Garcetti in an emergency order in March 2020, explains Dillon.”
– “Never let a good crisis go to waste.” – Winston Churchill
– And more recently, “borrowed” by the Left:
– “You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things that you think you could not do before.” – Rahm Emanuel
– Related: “Nothing is so permanent as a temporary government program.” – Milton Friedman
https://www.jamico.com/los-angeles-county-extends-eviction-moratorium-into-2023/
Los Angeles County Extends Eviction Moratorium into 2023
By Michael Brennan, of Brennan Law Firm
“Eviction Moratorium is extended again. This time the extension is broken into three diminishing phases, with the last one ending June 30, 2023, unless extended again.”
“First and foremost, the L.A. County eviction moratorium applies to all rental properties both within unincorporated areas of the County and any incorporated areas that are under less restrictive or no COVID-related tenant protections. The freeze on rent increases applies only to properties within the unincorporated areas of L.A. County that are under the County’s Rent Stabilization ordinance. There are three Phases:”
“And, of course, no rent increases are permitted still for properties under the County’s rent stabilization ordinance.”
Phase 3: January 1, 2023 – June 30, 2023
“Only protections for non-paying tenants at or below 80% area median income will remain, but the Board could decide to add additional protections at a later time.”
And government wonders why more low income housing isn’t being built in LA
This is what a black hole sounds like: NASA releases audio recorded by its Chandra X-ray observatory and it sounds like a Hans Zimmer score
https://www.dailymail.co.uk/news/article-10792075/This-black-hole-sounds-like-NASA-releases-audio-recorded-Chandra-X-ray-observatory.html
The specific Hans Zimmer score it sounds like is the 2013 unreleased “Realtors are Liars.”
Fake news. Sounds like a stomach growling.
Really? Sound pressure waves (of any frequency) could not reach earth through the vacuum of space.
Even if sound waves could travel through space (which they can’t), it would take longer than the lifetime of the universe for them to get here from there.
What they did is “translate” X-ray photons into sound waves. Obviously this is not very scientific but it could still be cool.
What they did is “translate” X-ray photon
Yes, obviously, but why BS about it? People interested in space generally have some science background??
3:00 PM · May 6, 2022
RNC Research
@RNCResearch
BIDEN, very confused: “Where am I heading?”
https://twitter.com/RNCResearch/status/1522652484111671299?s=20&t=RKmFnGxuZ9qgUSd7Unj1LA
mike brainard
@mrmike7
·
18h
Replying to
@RNCResearch
They told me there would be ice cream. 🍦
They aren’t even trying to hide the fact that an Idaho spud has more functional gray cells than he does.
‘The value of one’s home is frequently touted as not only an asset, but the asset, the retirement fund, the nest egg, the best way to build assets and achieve economic stability,’
Is it smart to put all your nest eggs in one basket?
That’s not a nest egg, it’s a hand grenade.
R u ready for mo CR8R?
The Financial Times
Private equity
Private equity titans dance until the music stops under the California sun
Apollo and peers are warning that markets have further to fall as recession clouds gather
© FT montage: Getty Images/Bloomberg | From left: Mathieu Chabran, Marc Rowan, Michael Milken, host of the Milken Institute Global Conference, and Rebecca Patterson
Antoine Gara, James Fontanella-Khan, Eric Platt and Brooke Masters in Beverly Hills yesterday
At 7am on Monday, Marc Rowan, chief executive of private equity group Apollo Global, took to the stage in Beverly Hills and warned his fellow financiers that a decade of almost uninterrupted buoyancy in financial markets was ending.
Stock markets would continue to fall, Rowan told the Milken Institute Global Conference, as surging inflation wreaks havoc on the global economy and the US Federal Reserve is forced to respond by raising interest rates.
“There is more of a correction to come,” said Rowan, whose firm manages $513bn in assets. “We are a long way from means and medians,” he said, referring to equity market valuations. “In the credit market, we also have a long way to go.”
…
Austin, TX Housing Prices Crater 12% YOY As Double Digit Price Declines And Skyrocketing Inventory Blanket Texas
https://www.movoto.com/austin-tx/market-trends/
As one Austin area broker explained, “Nobody is more terrified than brokers and agents. They all speculated and are deep in debt.”
Will crypto havens face economic havoc as interest payments on trasitional government-sponsored currencies return to normal levels?
Traditional, not transitional
The Financial Times
Technology sector
Crypto bros descend on ‘Silicon Bali’
Ocean views and beach resorts are attracting a new kind of tourist to the island
‘Bali is like the [international] hub of crypto now’
© Tokocrypto
Oliver Telling in Singapore
May 7 2022
With its ocean views and beach resorts, Bali has long attracted surfers and holiday goers. Today, it is also a premier destination for the world’s crypto enthusiasts.
Among the recent arrivals is 33-year-old Russian blockchain entrepreneur Ilia Maksimenka, who came to the Indonesian island in 2020, not long after the outbreak of Covid-19.
“It’s very easy to meet the right people,” he said. “In terms of south-east Asia, Bali is like the [international] hub of crypto now.”
While the pandemic has curbed international tourism, the rise of homeworking has also prompted many people to reconsider how comfortable they are living in the cities that have traditionally been business hubs. For Maksimenka, who comes from Moscow, Bali was an exotic alternative.
“When you come to Bali, you have maybe a 10 times cheaper life than in California. But you have the same comfort level and much higher quality of food. People prefer to come here and live the tropical life,” he said.
In Bali’s community of expats, who like to describe themselves as “digital nomads”, crypto is a common interest. On social media, many boast of the fortunes they have made trading cryptocurrencies in sunlit villas, while friends scrape by in cramped apartments back home.
“[We’re] working in [these] hippy places. And you start seeing Lamborghinis,” said Emilio Canessa, an Italian who works in marketing for the internet computer, a project of blockchain business Dfinity. “The calibre of the people here . . . It’s crazy.”
“They have started calling this place Silicon Bali,” he added.
…
Let’s compare notes at year-end 2022 on whether ‘Silicon Bali’ was disproportionally hammered by central bank tightening measures.
My guess is the answer will be yes.
Are you happy by now with the oil stocks you snapped up in spring 2020?
The Financial Times
Oil & Gas industry
Rocketing prices at the pump fuel surge in profits at US refiners
Tight supplies mean months of high prices for consumers, but healthy margins for the oil industry
The sharp rise in the cost of petrol has prompted warnings against profiteering from the Biden administration and threats of a windfall tax
© Bloomberg
Justin Jacobs in Houston
32 minutes ago
America’s oil refiners are enjoying a surge in profits as inventories of critical fuels are drained across the US, sending prices sharply higher just weeks before the start of the country’s annual driving season.
The sharp rise in the cost of fuel at the pump in recent months has prompted a backlash from the Biden administration, which has warned oil companies against profiteering amid the war in Ukraine and spiralling inflation. Some in Washington have looked to levy windfall taxes on the industry.
But worsening shortfalls of diesel, petrol and jet fuel across the country point to a refining system stretched to its limits by a robust post-pandemic recovery in fuel demand, the loss of Russian supplies after its invasion of Ukraine and refineries running at full tilt.
The tight supplies are likely to deliver months of high prices to consumers and profits to refiners, say industry executives and analysts.
“Right now, our market looks wonderful,” David Lamp, chief executive of Texas-based CVR Energy, a refiner, told his investors last week.
…
Why do people with no knowledge of economics whatsoever always blame producers for price gouging when the free market drives prices sky high?
It’s not a producer’s fault that the good they produce is in high demand.
“when the free market drives prices sky high?”
I thought massive printing of $ by the Fed and out of control governments spending had something to do with it.
Home » Economics » Introduction to Inflation
Causes of Inflation
The reason for inflation can be summed up in one sentence: Too many dollars chasing too few goods.
https://ilearnthis.com/a/inflation/
Causes of Inflation
It’s a Perfect Storm.
Somebody printed way too much money and loaned it out at near zero interest. Somebody choked off our oil supply. Somebody shut down and locked up much of our economy.
Who are these people?
Meaning Inflation + Debt + Manufactured Shortage + Years of Crippled Commerce.
Somebody shut down and locked up much of our economy.
Now it’s baby formula shortages. That’s some Build Back Better.
Currently roughly 80% of our energy today comes from fossil fuels, and well more than half of it comes from oil and natural gas. Shouldn’t nuclear energy research should be at the top of our energy agenda?
“Currently roughly 80% of our energy today comes from fossil fuels,”
Ben posted a really interesting interview that he found on BitChute covering the subject of “fossil fuels”.
You should really try to find it and watch it.