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We Thought These Would Fly Off The Shelf, Even After Cutting Prices, We Can’t Even Give Them Away

A report from ABC 4 in Utah. “ABC4 spoke with Rodney M., a local real estate agent in Salt Lake County. ‘We’re seeing the inventory of houses double on the market,’ said Rodney.’This has made it easier for homebuyers to be pickier and also reduce the price of mortgages. People no longer have to bring a bunch of cash and get into a bidding war to buy a home.'”

From Twin Falls KMVT. “With the market slowing down from a record pace, Mark Johnson with JPAR Real Estate says he is not pointing to a change in demand, especially in places like Idaho. Instead, he is pointing to one national trend that may be causing the slowed market. ‘We’re increasing inventory by 4-6% every week, and I anticipate that will happen through the end of summer,’ said Johnson.”

“In southern Idaho, everything is sold or reserved before construction is even finished. So what would have to happen here in the Magic Valley to see something like that occur? ‘New construction,’ said Lisa Haney with 208 Real Estate. ‘I think they are finally starting to catch up. I know builders would quit taking orders for new build jobs because they couldn’t keep up. I think we’re finally starting to see a little more saturation in both of those markets.'”

From WCVB in Massachusetts. “It has been a brutal spring for anyone trying to buy a house in Greater Boston. Now, experts say there might be some early signs the market is starting to downshift. Denise Garzone points out that bidding wars are less intense than just a few months ago. She says most listings get a handful of offers — three or four — compared to more than a dozen which was commonplace just a few months ago. ‘We’re not seeing the hordes of people come through open houses anymore,’ Garzone said. ‘Far fewer people coming to look at houses. Far fewer offers.'”

The Review Journal. “Homebuilders’ sales activity dropped sharply in Southern Nevada last month as buyers around the country pull back amid higher borrowing costs. Locally, builders logged 911 net sales — new purchase contracts minus cancellations — in Southern Nevada in April, down nearly 30 percent from March, according to Home Builders Research. Realty One Group agent Judi Hirsh said Las Vegas remains a seller’s market overall, given the still-tight inventory of listings, but the market is ‘softening’ and isn’t experiencing the ‘craziness’ of even a few months ago.”

The Puget Sound Business Journal in Washington. “Four years ago Daniels Real Estate rolled out a plan to sell a dozen Seattle condos in the new Gridiron building at below-market prices. ‘We thought these would fly off the shelf,’ Kevin Daniels said in a May 10 email interview. They have not. Even after cutting prices, ‘(we) can’t even give them away, it seems.'”

The San Mateo Daily Journal in California. “Spiking interest rates may be slowing San Mateo County’s red-hot housing market, with mortgage demand falling and local real estate agents reporting a cooling in competition over the Peninsula’s limited housing stock. ‘We’re starting to see there’s less foot traffic at the open houses, there’s less private tourings and also there’s less offers,’ said San Mateo Realtor Wilson Leung. ‘We’re starting to see the effects of interest.'”

“Another ingredient for a price dip, at least in the short term, is a seasonal inventory increase. Just 250 homes were listed for sale in the entire county in January, according to MLS listings. That figure has increased steadily, with 414 homes shown on the market last month, and Leung said he expects it to continue to increase through September.For now, he said most of his listings are getting just a few offers, down from eight or more earlier in the year. ‘The habit is to price below the going rate, but even with that … there are single-family properties that are not getting offers after two weekends,’ he said. ‘I think the hike in prices is behind us.'”

From Insauga in Canada. “For decades, broker Robert Van Rhijn said, two key measures of momentum in the GTA housing market – sold transactions and total inventory – have typically peaked between March and May. A third key metric, average days on market, typically hits its lowest levels over the same period each year. But those key metrics dipped during what is typically the strongest time of year for GTA housing sales. Sold transactions plummeted from 4010 in February to just 990 in April. Terminated listings spiked in late April, with 567 properties being pulled from the market between April 26 and May 2.”

“According to Galina Sheveleva, a realtor at Strata.ca, the relatively high number of terminated listings indicates that many sellers did not receive the kind of ‘way-over-asking’ offers that made headlines during what he described as the ‘insane’ first quarter of 2022. With much of that ‘insane’ first quarter action came from pandemic-fuelled volatility, it would have been understandable for GTA real estate watchers to expect the spring market of 2022 to return to form. But this simply hasn’t happened.”

“Instead, just about every measure of market performance peaked from January to March before dipping in April and early May. At the same time, terminated listings spiked oddly in late April, with 567 properties being pulled from the market between April 26 and May 2.”

From CBC News in Canada. “The home-buying frenzy of the pandemic is showing some signs of slowing, with the number of home sales in Saskatchewan dropping last month by almost 17 per cent compared to the record set in April of last year. ‘Places where you’re talking about buying a half duplex for $2.5 million … need some correction,’ said Ashley Turner, a realtor with Century 21 in Saskatoon. ‘And that’s going to happen with … interest rates going up, the government trying to cool off those housing markets.'”

From Newsroom New Zealand. “Up to 2.5 percent of vendors are now losing money when they sell their homes. Nationwide sales figures show the worst loss last month was suffered by a vendor in Henderson Valley, in west Auckland, who in November 2020 purchased a very small three-bedroom cottage on 1588 square metres of native forested land sloping down towards Stoney Stream, for $1.1 million.”

“Just 18 months later on April 22, she sold it for $1.025m – that’s $75,000 less than she paid, and on paper it’s also a $95,000 discount on the June 2021 rateable value of $1.12m. And that doesn’t allow for the money she spent renovating it, and the real estate agent’s commission when she sold it. Worse still for her morale, that’s half a million dollars below the (somewhat optimistic) $1.54m Homes.co.nz estimate of what it would have sold for just two months earlier, though that says more about the unreliability of such pricing sites.”

“Ann Hutton from LJ Hooker marketed the property, and said the drop in price was essentially an act of God. ‘I think so. If you’d been selling October, November last year, what you may have achieved then and what you want to achieve now, is probably completely different,’ she said. ‘I think it’s just an adjustment. If people need to sell or want to sell and you know, they have personal needs to sell, whatever they may be, then it’s really just a case of, you know, not expecting to see what you were likely to see in November last year and meet the current market.'”

From Domain News in Australia. “There are always exceptions, even in a property boom. Domain found that NSW, Victoria, Queensland, ACT, the Northern Territory and Western Australia each have a clutch of suburbs where prices are actually cheaper now than what they were in 2017 – significantly, in some cases. In the upper north shore suburb of Epping, where the median price for a unit is 7.7 per cent less now than what it was five years ago, agent Betty Ockerlander said a big influx of new apartment buildings led to an oversupply in the area that peaked around 2016.”

“‘They just kept building them and then there was an oversupply, so I’d say there are another few years to go before it evens out,’ she said. Perth’s biggest price fall over five years, however, was for units in Victoria Park, a south-side suburb located just 10 minutes from the CBD. The cost of a median-priced unit there is now 26.3 per cent less than it was in March 2017. The current median is just $295,000. Local agent Joe Mucci of Bourkes agency said it’s a secret that needs telling. ‘We just don’t get enough inquiry. A few years ago I sold one for $340,000. You can now buy it for $270,000,’ he said.”

From CNBC. “Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market. Twenty-two China high-yield bond issuers, all related to the property sector, have either defaulted on their U.S. dollar-denominated bonds or deferred repayment with bond exchanges since the start of this year, analysts Kenneth Ho and Chakki Ting wrote in a report Friday. ‘Given the pick up in stresses, we raise our FY22 China Property HY default rate forecast to 31.6% (from 19.0% previously), which was our previous bear case assumption,’ the analysts said.”

This Post Has 164 Comments
  1. ‘In southern Idaho, everything is sold or reserved before construction is even finished. So what would have to happen here in the Magic Valley to see something like that occur?’

    ‘New construction’

    1. So what would have to happen here in the Magic Valley to see something like that occur?’

      I was in the “Magic Valley” a little over a year ago, and I didn’t see anything even remotely magical about it. In fact, it looked like a sh!thole. I remember pulling up prices then and laughing out loud.

  2. ‘Just 250 homes were listed for sale in the entire county in January, according to MLS listings. That figure has increased steadily, with 414 homes shown on the market last month’

    Harry?

    ‘Instead, just about every measure of market performance peaked from January to March before dipping in April and early May. At the same time, terminated listings spiked oddly in late April, with 567 properties being pulled from the market between April 26 and May 2’

    Denial <- You are here.

  3. ‘Given the pick up in stresses, we raise our FY22 China Property HY default rate forecast to 31.6% (from 19.0% previously), which was our previous bear case assumption’

    But bloomberg says last minute payment Ken and Chakki?

  4. Gor gawd’s sake.

    Do NOT give them away!!!!

    “They have not. Even after cutting prices, ‘(we) can’t even give them away, it seems.’”

  5. ‘There are always exceptions, even in a property boom. Domain found that NSW, Victoria, Queensland, ACT, the Northern Territory and Western Australia each have a clutch of suburbs where prices are actually cheaper now than what they were in 2017 – significantly, in some cases’

    Domain pulls this out ever 6 months or so. Everything is to the moon Alice! Well except for giant swaths of the gotfforsaken bush.

    1. A $30k incentive isn’t going to do jack sh!t when the house just got $200k more expensive over the life of the loan. The FED just broke it off in their aszes. Did these pukes think that the FED was going to ignore its inflation mandate forever? They had 18 months to figure out rate hikes were coming.

      1. “Did these pukes think that the FED was going to ignore its inflation mandate forever?”

        I still think higher inflation is their goal regardless of what they say for public consumption.
        I am certain Fed will capitulate before summer is over.

        1. I am certain Fed will capitulate before summer is over.

          Not even close. The speculators are hoping for it but they’re going to get burned. The FED is going to raise rates for years.

  6. People no longer have to bring a bunch of cash and get into a bidding war to buy a home.’”

    Only indescribably stupid lemmings felt they “had” to play the bidding game for insanely overpriced shacks, Realtor Boy. Now when the bottom drops out they’re going to be cautionary tales. Bring on the carnage!

  7. Still…Cheaper than renting. /s

    “A few years ago I sold one for $340,000. You can now buy it for $270,000,’ he said.”

  8. ‘We thought these would fly off the shelf,’ Kevin Daniels said in a May 10 email interview. They have not. Even after cutting prices, ‘(we) can’t even give them away, it seems.’”

    Gosh, who wouldn’t want to live in shoddily-constructed “affordable” housing rife with Section 8s?

    1. Those Gridiron condos are stacked on top of an older brick building in Seattle’s stadium district…so you’ll be dealing with super annoying, drunken, douchey Seahawk 12’s at least 8 weekends a year. Oh, they are also built in an area of heavy fill, so what could possibly go wrong when that 7+ mag earthquake hits this area?

  9. It must be getting close to hologram time for the installed one. His Woke puppet masters aren’t going to let him speak in public much longer.

    Video: Biden Admits Sky Rocketing Energy Prices Are Part Of Green “Transition”

    by Steve Watson
    May 24th 2022, 6:02 am

    Struggling to speak coherently, Biden said “When it comes to the gas prices, we’re going through an incredible transition that is taking place that God willing when it’s over we’ll be stronger.”

    “The world will be stronger and less reliant on fossil fuels when this is over,” Biden added.

    0:15

    RNC Research
    @RNCResearch

    https://twitter.com/RNCResearch/status/1528712761554903040?s=20&t=TOryI4mCJf9Hzbo5JP2MXg

    1. It’s been more than 100 days since he’s had his last conference. The MSM would never let Trump get away with such an extended absence. In the interim, we’ve got our babbling diversity hire of a press secretary to create nonsensical word salads for us.

      1. “…we’ve got our babbling diversity hire of a press secretary to create nonsensical word salads for us.”

        I haven’t heard her speak yet. Is it that bad?

  10. ‘the drop in price was essentially an act of God. ‘I think so. If you’d been selling October, November last year, what you may have achieved then and what you want to achieve now, is probably completely different,’ she said. ‘I think it’s just an adjustment. If people need to sell or want to sell and you know, they have personal needs to sell, whatever they may be, then it’s really just a case of, you know, not expecting to see what you were likely to see in November last year and meet the current market’

    How did you lose yer shack mate?

    Well, it started when I no longer expected what I saw in November.

    That’s how fast it unraveled in NZ.

    1. This is Vancouver:

      Steve Saretsky

      ‘A big part of my business is just fixing other Realtors errors. The number of calls from distressed buyers is increasing. Good Realtors will pick up more business in bear markets.’

      https://twitter.com/SteveSaretsky/status/1528512577650667520

      A comment:

      ‘Distressed buyers seeing there neighbourhood comps sell for 300k less than what they paid just a few months earlier, and they are looking for an out.’

    2. ‘the drop in price was essentially an act of God. ‘I think so. If you’d been selling October, November last year, what you may have achieved then and what you want to achieve now, is probably completely different,’ she said. ‘I think it’s just an adjustment. If people need to sell or want to sell and you know, they have personal needs to sell, whatever they may be, then it’s really just a case of, you know, not expecting to see what you were likely to see in November last year and meet the current market’

      Why is it that some people just don’t know how to STFU? The only answer is you lied through your teeth and very likely committed fraud.

    1. I sure love these coincidences. People around the globe don’t give a flying f@rt about Covid anymore, and voila, a whole new pandemic is being foisted upon us.

      Obviously only more lockdowns will save us, though the economy will go down in flames (well, even more flames than it already is).

      Then once everything collapses good and hard the WEF can do its great reset and confiscate everything of value.

    2. Of course this is going to be the narrative that the Monkey pox is a new mutant strain that requires a declaration of Pandemic.
      Monkey pox has been a rare pox disease, usually confined to Africa, with a low mortality rate.
      If they go into the testing frenzy again using the bogus PCR, they are off and running with the new Global Pandemic threat , that strangely Bill Gates predicted. .
      Peaceful non compliance to the obvious Medical Tyranny planned by corrupt and fraudulent Health Authorities trying to create a Dictorship of injections of their dangerous junk vaccines.
      They have a election to rig, and more mass destruction to cause by their bogus lockdowns, mask wearing and than bogus injections.
      They are going to double down on controlling free speech and dispute to the next narrative , as they were not very happy with alternative news objecting to the Covid 19 fraud and massive killing by medical genocide.
      I wouldn’t doubt it if the food shortages are going to evolve into food rationing and gas rationing combined with medical dictates.
      IMHO , this aren’t going to release something that might be a threat to them, so it more like fake Panademics and fake testing , than inject their junk medicine.

      1. bogus lockdowns, mask wearing and than bogus injections

        This one is not a respiratory infection, so face masks aren’t in play I would suppose. The scare headlines say it’s gay men sexually transmitted, so they’re all going to have to wear condoms in public.

        1. Along these crazy lines…When I was a kid we had segregated swimming (males only) at the Y and no bathing suits were allowed. This was so that a health screening for STDs was easy. Something that started when the WWII vets came home I think.

          1. ” This was so that a health screening for STDs was easy. Something that started when the WWII vets ”

            The greatest venereation.

          2. Swim naked to check for disease?

            Sounds like something Democrats want to do to kindergarteners.

    3. From the article: “An individual is contagious from the point their rash appears until all the scabs have fallen off and there is intact skin underneath. The infectious period is thought to last for three weeks but may vary between individuals.”

      In other words, not all that contagious. Medcram put an R-naught value at less than 1. These cases appear to be traced to a couple superspreader raves and a “sauna” in Spain. Sounds like post-pandemic debauchery making up for lost time.

      Nonetheless, it’s something to keep an eye on. The WHO has said “no evidence” before, and I don’t believe them this time.

    4. You are missing the 2nd point 🙂

      2 vaccine makers (Bavarian Nordic up 40% today, and Emergent up 20%) stand to make a lot of money. Be smart and get options on them 🙂 …. Or this is just a contrived situation

      1. Be smart and get options on them

        Yeah no thanks. This degenerate gambler mindset is what needs to be extinguished.

      1. That’s the face you make when you just made $24,000 on a couple of maroons who will get foreclosed on within 3 months after moving in. They look like the harpooneers on board the Pequod.

    1. A barber and a credit union flunky are buying an $800K house.

      As for the tats, they all look like that now.

    2. I bet I make more money than both of them, yet I can’t reasonably afford a $400k house (based upon historical math), but they can afford an $800k house? I’m not “buyin'” it.

      We don’t have a housing bubble problem, or an everything bubble problem, we have a banker problem. The bubbles are just the side effects. These mouthbreathing cretins are only enabled by the most shoddy lending in the history of the world.

      1. It’s just an appraisal fraud problem…… that’s going away rather quickly isn’t it? Kinda odd that is. The minute something like that gets attention, it disappears.

    1. ‘Robert Snow, a pilot for American Airlines, one of the top 3 largest airlines in the country, has 31 years of commercial airline experience and additionally seven years of experience as a U.S. Air Force pilot. Snow says that he might not be able to fly again after he suffered a cardiac arrest only 6 or 7 minutes after landing a plane he piloted from Denver to Dallas Fort Worth (DFW). He still had two more flights scheduled on April 9.’

      ‘He believes that his cardiac arrest is connected to the Johnson and Johnson COVID vaccine he was forced to take in order to keep his job on Nov. 4, 2021, even though he already had natural immunity from previously contracting the virus. Dr. Peter McCullough, a world-renowned cardiologist, told Newsmax that Snow’s case fits a “pattern.”

      “There is no other explanation,” McCullough said about Snow’s case since Snow has no coronary disease. “The MRI pattern is consistent,” the doctor said. “Indeed, it may have been vaccine-induced myocarditis with a late manifestation of cardiac death.” In addition, he told The Epoch Times that he has received “several phone calls and communications from friends in the industry that do think that they might have had issues with a vaccine.”

      ‘Most alarming is that some pilots are “afraid to raise the flag and say, ‘Hey, I think I might have an issue because they’re afraid they’ll either lose their medical certification to fly, which if we lose our medical, we can no longer operate. We can’t be a commercial pilot anymore. And in worst-case scenario, which is what right now probably what I’m experiencing is you can’t fly at all. Period,” Snow said.’

      https://www.theepochtimes.com/top-airline-pilot-suffers-cardiac-arrest-between-flights-post-mandatory-covid-vaccination_4477128.html

      They are killing thousands and putting thousands more at risk of death. What’s the penalty fer that?

      1. “Snow says that he might not be able to fly again after he suffered a cardiac arrest only 6 or 7 minutes after landing a plane he piloted from Denver to Dallas Fort Worth (DFW).”

        Sadly, his piloting days are over.

        1. so he will easily have over $100k maybe $200k+ a year for retirement, and he can become a reel xstate brooker

      2. Plus one for the Epoch Times and plus one for you paying for a subcription and sharing those articles here.

        The answer to this is ropes.

        Anyone, and I mean anyone, who supported requiring MRNA “vaccines” as a condition of employment, needs to hang.

        Alphabet Agency Glowboys, you will not silence us.

        The Day Of The Rope is coming.

      3. How does Snow know that the myocarditis was from the J&J vaccine and not from COVID itself, which he admits he had?

        And the myocarditis “pattern” is for mRNA vaccines, not adenovirus vaccines. Yeadon knows this full well, but but I guess it doesn’t fit the narrative.

        1. There’s only one side running narratives here. It’s not a vaccine he was forced to take, it’s experimental gene manipulation.

    1. Was near there last July and I couldn’t believe how packed it was. Lines of cars waiting to get in in the 96 degree heat. Screw Disney.

    2. 10 years ago I bought annual resident passes to Universal for $130 and Disney for $300. If it was crowded we left.

  11. Lone Tree, CO Housing Prices Crater 19% YOY As Denver Suburbs Stagger On Soaring Mortgage Defaults

    https://www.movoto.com/lone-tree-co/market-trends/

    As a noted economist explained, “I can ask $50k for my 10 year old Chevy pickup but where is the buyer at that price? So it is with all rapidly depreciating assets like houses and cars.”

    1. $250 sounds about right. I’ve been seeing makeshift lumberyards all over the place for the past year. There’s so much lumber there’s nowhere to put it.

      1. I’ve said numerous times here that I can buy superb local hardwood lumber cheaper than the big box lumber yard mystery “white wood”.

  12. “‘We thought these would fly off the shelf,’ Kevin Daniels said in a May 10 email interview. They have not. Even after cutting prices, ‘(we) can’t even give them away, it seems.’”

    Price discovery after massive rate hikes is a bitch.

  13. Did you buy the rally, only to find yourself caught in a bull trap on the next plunge deeper into the CR8R?

    1. Does it seem like the NASDAQ seeks to plunge deeper into the depths of the CR8R every day?

    1. I am wondering if the WEF will produce an individual who will claim to be the returned Christ. Everything else that is happening is leading to that.

      1. an individual who will claim to be the returned Christ

        I’m not religious but based on my rabbit holes I suspect Prince William.

        1. Before the return of Christ comes one who declares himself to be greater than God, the AntiChrist.

          So the story goes I think.

    2. The future as defined by Klaus Schwab is a Dictorship by Corporate Governance that has devised a plan of takeover to usher in a One World Order , where these psychopaths take all freedoms from the populations.
      They want to dictate everything, including what you will eat, where your allowed to go, what you will have , and what they get to inject you with. All this while the Elite hijackers live in the lap of luxury , while they want to enslave or kill the populations of the World.
      A talking head last night brought up a point that usually people like Klaus Schwab and Bill Gates end up destroying themselves in the long run, after they reek their evil . Unfortunately before that happens , they take a lot of victims.

    3. Schwab is certainly *NOT* a soft target by any means.

      That being said, 4chan needs to deliver the goods. Addresses, travel itineraries, what time his security detail changes shifts.

      He is not a U.S. citizen, so f* Glowie.

      All it takes is one brave Lone Wolf.

      One Lone Wolf, with nothing to lose…

        1. They will attack each other in the struggle to become Daniel’s Great King of the North.

      1. All you have to do is listen to them talk as they outline how they plan to take any anatomy and pursuing happiness from the human race.
        It wasn’t enough for these bastards to parasite off the humans with their rigged thief, and looting of Government coffers. Now they propose the useless eaters need to be eliminated , or hacked, or enslaved and deprived of anything other than their depraved agenda for humanity.
        Amazing how wonderful the World could be if this sinister force was for once and for all eliminated after being the evil virus on this earth .

    1. John Mearsheimer

      “America’s goal is to inflict a decisive defeat on Ukraine…”

      I don’t know who this old man is, but I’m not going to listen past that mumble.

      1. Yeah, he’s losing it, but his message has always been clear given the nuclear threat. A western victory may come at a terrible price.

        1. A western victory may come at a terrible price.

          And it increasingly appears to be a price they are willing to pay. That, or they believe their propaganda that our anti ballistic missile shield is impervious.

    1. The Narrative is to hand over all control to the WEF and let them turn us into slaves. But don’t worry, you’ll be happy, they pinkie swear.

    2. This dude doesn’t want you putting fuel meant for his private jet in your Honda Accord.

      Right. All of these focks want to continue living in the lap of luxury, but they want you and me living hand to mouth in Soviet Era style housing blocks, eating bugs and walking everywhere. Fock these scvmbags. “Let them eat cake” is everywhere right now. It’s almost unbelievable.

    1. says energy transition will create energy shortages and inflationary pressures

      The goal is to collapse the global economy, so they can step in and “save us”. But unless you have a Q code, you won’t be saved.

  14. From Philly suburbs: I am moving to Florida next month to establish residency for tuition purposes (son going to FSU in the fall). My house went under contract over the weekend without listing. Someone posted in a Facebook community page about wanting to move to this township. We connected, they came to see the property, had an offer a few hours later. Because we both have industry friends, we are paying to have our own paperwork done. Since that means no commission payout, I priced fairly. They offered $4k under my ask. I accepted. And if for some reason this falls through, I have 2 more backup offers waiting. This market is nuts. I would not want to be buying now. I’ll be renting in FL. May never buy again.

    1. “From Philly suburbs: I am moving to Florida next month to establish residency for tuition purposes…”

      What’s the difference between FL in-state and out of state tuition?

        1. Yeah, that could certainly add up quickly. We’re paying $10k per semester in-state for Washington State University, but there’s no income tax here.

    2. For in-state tuition in Florida, you must have established residency for 12 consecutive months so you have missed a fall entry.

      1. Which is good because we don’t like Northerners coming here trying to rip us off. And don’t try to fake residency or your son will be banned from ever attending. One strike here, you’re out!

        1. I’m following the proper protocol. First year will be out of state tuition. Then we’ll do a residency reclassification for sophomore year. I wanted to move a year ago so we’d be established before school started, but he wanted to finish senior year up north, which I understand.

  15. PRICE CUTS! DON’T Buy From Home Flippers in 2022!
    May 12, 2022 In some of what are considered America’s “Hottest Housing Markets” we are starting to see things cool off in the form of price cuts signaling that we may have already reached the peak of the housing market. In today’s video, I am using St. Petersburg Florida as an example of what was mostly a “traditional” housing market in the past to where it is today at ASTONISHINGLY overpriced homes.

    00:00 St. Petersburg Florida -Ground Zero For Price Reductions
    1:25 Homes selling bellow their “Zestimate” on Zillow
    4:22 Home Sellers are being tricked by the “Zestimate”
    5:30 DO NOT Take the BAIT on Home Flips Like This
    8:19 More HUGE Price Cuts
    9:35 How to be a SMART Home Buyer in 2022

    https://www.youtube.com/watch?v=wpMqLt6yiH0

    10:22.

    1. STUCK in a NEW HOME BUILDER Contract? Housing Market Update
      May 18, 2022

      I have 7 tips / things to think about if you are stuck due to higher mortgage interest rates or fear of the real estate market.

      https://www.youtube.com/watch?v=tuapadY7Lj0

      9:23. Florida UHS. Has a couple of emails from FBs about their mortgage payments going up.

  16. New Built Houses sales dropped – but the medium price increased 20% ???

    Sales of newly built homes dropped 16.6% in April from March, far more than expected, and were down 26.9% from April 2021, according to the U.S. Census.

    The annualized rate came in at 591,000 units, seasonally adjusted. Analysts had been expecting 750,000. March’s read was also revised lower.

    The median price of a new home sold in April was $450,600, an increase of nearly 20% from the year before.

    1. Short home builders … I would but I never short any stock

      A stark pullback in demand, and not overconstruction, is hitting the market. Housing starts have actually been falling over the past few months. Slower sales caused the inventory of newly built homes to jump sharply to a nine-month supply. A six-month supply is generally considered balanced between buyer and seller.

      Builders are also starting to see an uptick in cancellation rates. While those have not shown up in earnings releases yet, analysts who follow the builders are beginning to report it.

        1. now have a 9 month supply

          Up from six just two months ago. Ouch. Some projects may not get finished.

    2. Ahem…

      ….. according to….. “George Ratiu, senior economist & manager of economic research at Realtor.com.”

      🤣🤣🤣

    3. but the medium price increased 20% ???

      We saw this last time. Having the bottom drop out makes the median go up temporarily.

      1. BlueSkye, you were correct

        From: WolfStreet:

        The bottom fell out under $400,000. At the top end, things weren’t so bad: sales were flat year-over-year in the $400,000 to $750,000 range, though they fell on a month-to-month basis. But you cannot maintain a housing market by just selling to the wealthy.

        In the price categories below $400,000, the bottom fell out. The drop in sales year-over-year:

        $300k to $400k: -42%
        $200k to $300k: -71%
        $200: dead.

  17. The globalists want to take your fridge from you:

    The problem of global energy inequity, explained by American refrigerators

    The average fridge in the US consumes more electricity in a year than an average person in dozens of countries.

    Of course, we’re supposed to switch to electric cars.

    But not to worry. I’m sure there will still be nice, full size fridges, but they will have exorbitant “carbon taxes” to make them unaffordable for the masses. So, while the people who matter will still have large air conditioned and heated houses, pricey electric cars and appliances, the rest of us will be taking the bus, freezing in the winter, sweltering in the summer and if we’re lucky, a small dorm fridge in our 400 sq ft studio apartments.

    1. Have to say that 400 sq ft studio apartment does sound a bit cramped, especially if you have to share it with a tractor owned by the collective.

  18. To those with knowledge about these things:
    My 14 year old grandson has just been diagnosed with
    non-Hodgkin’s t-cell lymphoma. Could this have in correlation to Covid shots? I know he had to have shots for school, but I don’t know which one. Terrible news to our family.

  19. Breaking news.

    An 18 year old gunman killed 14 students and a teacher in Texas this afternoon.

    The #Narrative will be updated as needed.

    1. Canada news.

      Massive derailment of a train carrying tons of fertilizer. What’s next?

      1. If true, it’s pretty sad and f*d up that these kids died, but to the Democrat Party, they’re just “useful idiots” on the path to repealing the Second Amendment of the United States Constitution.

        Which I type out without abbreviation out of respect for its gravity and importance, and perhaps, its role as our only salvation of retaining some semblance of a functioning nation out of the current mess.

        The shooter has a brown complexion, and this being Texas he is probably Hispanic / Latino / Mexican ancestry, and this is where the Bleach Brigade come in.

        He can not not be white. He *Has* to be white. Waukesha Christmas Parade killer got bleached. George Zimmerman got bleached.

        This #Narrative is only a few hours old, but I can guarantee you this guy is getting bleached.

        Real Journalists and the Democrat Party, joined arm in arm (or as Chris Cuomo is with like, actual child groomers and child rapists “shoulder to shoulder”) in their mission of anti white racism and whipping resentment, and hopefully violence, against whitey.

        It is who they are, it is what they do.

        This is the Democrat Party.

  20. My liberal, vaxxed, boosted, double-masked, DeSantis hating, Blue checked, Karen co-worker went and got COVID. She taking the week off to “save us”.

    Next week will be fun!

    1. We are a week away from June 2022 and this Mass Formation Psychosis is still here?

      Mass Formation Psychosis.

      When you strap that mask over your face, go look at yourself in the mirror, and try to tell yourself that you are not participating in a Mass Formation Psychosis.

      Every day, the future only gets worse 🙁

  21. ‘Ann Hutton from LJ Hooker marketed the property, and said the drop in price was essentially an act of God. ‘I think so. If you’d been selling October, November last year, what you may have achieved then and what you want to achieve now, is probably completely different,’ she said. ‘I think it’s just an adjustment. If people need to sell or want to sell and you know, they have personal needs to sell, whatever they may be, then it’s really just a case of, you know, not expecting to see what you were likely to see in November last year and meet the current market.’

    I’ve read this three times and I’m starting to think it’s funny as hell!

  22. That feeling you get, when you look at all of the members and attendees at the World Economic Forum 2022 Summit in Davos Switzerland right now?

  23. Saw the video earlier. ZH just posted “Moderna CEO Laments ‘Throwing 30 Million Doses In The Garbage Because Nobody Wants Them.'”

  24. YouTube CEO at World Economic Forum: “There’ll always be work that we have to do” to censor “misinformation”

    by Tom Parker | Reclaim The Net
    May 25th 2022, 5:07 am

    At the World Economic Forum Annual Meeting for 2022, an event where powerful CEOs and world leaders meet to “find solutions to the world’s most urgent challenges,” YouTube CEO Susan Wojcicki committed to persistent censorship of “misinformation” and praised YouTube’s existing censorship efforts.

    Wojcicki made the comments after Alyson Shontell Lombardi, the Editor-in-Chief of Fortune Magazine, asked her whether YouTube’s efforts to censor misinformation will always be a “work in progress.”

    Wojcicki continued by praising YouTube’s 5-6 year initiative of cracking down on content that’s deemed to be misinformation and said that users who look at YouTube search results or the homepage will see content from “authoritative sources” (mainstream media outlets that YouTube designates as authoritative) for “sensitive topics.”

    https://youtu.be/Pi72kfigcL8?t=974

    1. Canadian national security task force is preparing for the collapse of the United States

      What would they do if millions of armed Americans came charging across the border?

      Besides, if the US collapses, so does Canada. There is a saying in Mexico: When the US catches a cold, Mexico gets pneumonia. The same would be true of Canada

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