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For A Lot Of Buyers, That’s Where The Rubber Meets The Road

A report from the Aiken Standard in South Carolina. “We’re seeing a lot of people that when we come down and say, ‘here’s your monthly payment,’ (they say), ‘well, that’s just too much,’ said Matthew Hunter, branch manager at Assurance Financial.”

The Columbia Basin Herald in Washington. “‘A lot of the buyers right now are gauging those prices based on interest rates and what their monthly payment’s going to be. And for a lot of buyers, they’re not as concerned at the actual sale price as they are at the monthly payments. That’s really kind of where the rubber meets the road for them,’ said Brian Gentry of Re/Max Northwest Realtors in Othello. ‘It’s interesting because if something’s not priced right, you can tell pretty quickly because it’s gonna sit for a while…A year ago if something was priced right, it would be pending in a week or less.'”

The Denver Business Journal in Colorado. “Might a sense of normalcy be returning to Denver’s housing market? It appears so, according to June’s monthly report from the Denver Metro Association of Realtors (DMAR). The first months of the year were a haze of record appreciation, bidding wars and low inventory, but May marked a different story for the Denver housing market. With 448 more properties on the market than in April, the metro area ended the month of May with 3,652 properties, a staggering 76% increase over last year at the same time.”

“During May, 8.3% of listings reduced their asking price before receiving an offer in May, compared to 6.9% last May. ‘As summer approaches, and Denver continues to see a shift from the peak of the real estate market, we will see changes in how the market operates compared to the beginning of the year,’ Andrew Abrams, chair of the DMAR Market Trends Committee and Denver-area realtor, said in the report.”

The Herald Tribune in Florida. “In 2017, we were introduced to the term ‘iBuyer’ by Stephen Kim, an equity research analyst. An abbreviation for ‘instant buyer,’ it was coined for the practice of institutional purchasing of residential properties directly from owners. IBuying has proven, over these years, to be a grand experiment in search of economic justification. A path proving anything but easy. As of last year, only Offerpad turned the corner by reaching an average positive margin on purchases, while others continue to bleed capital through extensive losses.”

“Some are throwing in the towel. The housing goliath Zillow exited iBuying in November of last year after realizing over $28,000 in an average loss per home. Mike Del Prete, an industry writer, perfectly captured iBuying economics in his phrase ‘red is the new black.’ Not demonstrating sustainable profitability would seem normal for the first few years of proving a concept, yet massive losses are occurring in an environment of housing prices growing at the fastest pace in history. With the industry now returning to sanity and prices trimming and even predicted to slightly turn in some categories, the capacity to turn a profit will become nothing less than herculean. Game over?”

From Bloomberg. “From Seattle to Silicon Valley to Austin, a grim new reality is setting in across the tech landscape: a heady, decades-long era of rapid sales gains, boundless jobs growth and ever-soaring stock prices is coming to an end. What’s emerging in its place is an age of diminished expectations marked by job cuts and hiring slowdowns, slashed growth projections and shelved expansion plans. ‘They are no longer sure bets,’ said Tom Forte, a tech analyst at D.A. Davidson, of the technology industry’s behemoths. ‘They aren’t sure bets because there are a number of fundamental things working against them.'”

“The specter of job cuts has begun to haunt the Silicon Valley psyche. Russell Hancock, CEO of Joint Venture Silicon Valley, a nonprofit that studies Silicon Valley and its economy added he also worries that some of the shine and innovation of the tech industry is going away as products like streaming services and social networking become more of a utility. It’s possible ‘we’ll start to think about sort of like the gas lines going into our homes, or electricity,’ he said. ‘That’s kind of a new thing for Silicon Valley. It’s sort of a Detroit kind of existence where cars just became the backdrop, the furniture of the region.'”

From Business Insider. “Stocks are dipping, startups are flopping, and a possible recession threatens tech giants that once seemed untouchable. ‘This will be in the top-three corrections of the last 20 years — joining the 2008-2009 Great Recession and the 2000 dot-com crash,’ said David Sacks, a cofounder and partner at Craft Ventures.”

From Tech Crunch. “Startups across all sectors, from healthcare to enterprise SaaS to crypto, are laying off portions of staff and citing, seemingly, from the same notes. Despite cuts happening across all stages, many of the recent layoffs have come from companies that, just one year ago, hit unicorn status. The list includes Cameo, IRL and Loom.”

From Yahoo Finance. “At Gary Vaynerchuk’s multi-day non-fungible token (NFT) conference ‘VeeCon’in Minneapolis, there was no visible sign of the market collapse that preceded the crypto-palooza. And yet, in the prior six weeks, more than $1 trillion in crypto assets had been wiped away while the value of NFTs fell more than 80% from their market peak. ‘I said it in August, I said it in July, and I said it in May,’ Vaynerchuk told Yahoo Finance, ‘ saw this coming — that [a crash driven by short-term greed] is absolutely potentially what we’re in. It’s just starting, there’s a correction.'”

From The Street. “The tough time that the crypto sphere is going through is not about to go away. Judging by the recent decisions announced by the big names in the sector, it is even logical to say that what industry sources call ‘crypto winter’ will continue for several more weeks, at least, even if volatility is the key word in the space. Recent scandals, such as the collapse of the UST and Luna coins, have also reminded investors that the industry is still young and therefore subject to many ups and downs. The crypto market has lost over $1.7 trillion in value since November.”

The Langley Advance Times in Canada. “Average prices for single family homes in Langley have dropped sharply as the number of sales has plunged over the past few months, new data from the Fraser Valley Real Estate Board (FVREB) shows. In May, 94 detached homes in Langley changed hands, down 50.8 per cent from the 191 houses sold in the same month a year ago. the overall average price was $1.596 million, down from $1.796 million, an 11.2 per cent drop.”

“The median price of a detached house in Langley was $1.545 million, down 5.8 per cent from the previous month. A similar pattern, but less extreme, was seen for townhouses and condos. ‘Since March, we’ve seen sales come down with an accompanying increase in inventory, subsequently restoring much-needed balance and cooling our heated market,’ said FVREB president Sandra Benz. ‘While still early, it suggests that as we gradually settle into a post-pandemic sate of work and life, the big pandemic-era drivers – working from home and record low interest rates – may have run their course.'”

“Meanwhile, sales in major cities across Canada are dropping after almost two years of frantic activity that saw both home sales and prices shoot up to never-before-seen levels. In February 2020, the benchmark and average prices for a single family home in Langley were just over $1 million. Starting in the late spring of 2020, the average price of a single family home in the Fraser Valley shot up from just over $1 million to a peak of $1.9 million in February of this year. Langley houses peaked at just under $1.8 million in April. Since then, the average price has begun a steep decline and is now below $1.7 million.”

From All Homes in Australia. “It’s well known that Canberra’s house prices rocketed over the past two years, but what might raise eyebrows is that the capital was out-gunned by its regional neighbours. However, agents said the winds of change had since swept in on the back of rising interest rates, tighter lending restrictions, inflation, the federal election and other disruptions. Michael Henley of Henley Property, who specialises in the Snowy Monaro region, said the fear of missing out (FOMO) which drove the price extremes seen in the past two years had been replaced by a new paradigm.”

“‘Buyers could now be said to be exhibiting a fear of paying too much, and that’s a big turnaround in attitude,’ he said. ‘The highs of the last two years saw prices in Jindabyne double – and more – across all dwelling types. Units went from the high $100,000s to $400,000. Berridale was the same: a $300,000 house became $600,000. And that was a typical phenomenon across the region. We’re not seeing that kind of emotion driving prices now.'”

“Pat Jameson of Blackshaw Coastal in Batemans Bay said demand for South Coast properties had soared during the pandemic, driving incredible price growth. ‘I recall one example where a house in Batemans Bay went from $750,000 to $1.2 million in one year,’ she said.”

From Stuff New Zealand. “An Upper Hutt property that was bought for $1.1 million last year but sold for $950,000 this year returned the biggest loss of any resale in the first part of this year, new research shows. While two of the five biggest resale losses were in Auckland, there was a geographical spread in the results and the biggest loss was in the Wellington region.”

“The property, which is at 16 McEwan Crescent in Riverstone Terraces in Upper Hutt, sold for $950,000 in January. But it was bought for $1.1m last May. That means the seller suffered a loss of $150,000 – before any real estate commissions are taken into account.”

“The property that returned the fifth-biggest resale loss was the only one to have been held by the owner for longer than 18 months. It was a three-bedroom house at 17 Derby Street in Westport in the Buller district. The property, which has a large 1012 sqm section, was sold in January for $115,000. But when the seller bought it in early 2010, they paid $170,000. After owning it for 12 years, they had a loss of $55,000.”

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This Post Has 100 Comments

  1. I’m trying out how to display and post these crater videos, if yer wondering what this link is above.

    ‘‘That’s kind of a new thing for Silicon Valley. It’s sort of a Detroit kind of existence’

    Years ago I posted a report that said Detroit produced more actual GDP than bay aryans. It made some people mad but it was backed up by the numbers.

    1. Nice…. This way all my good friends won’t have to whine about “source” when they read all the crater plastered on youtube from one end to the other.

    2. That lady on the video is UNBELIEVABLY ANNOYING. OMG. I made it 1.5 minutes and i expect a medal for that. Nails on a chalkboard are better.

        1. I just got back from talking it over with my lawyer. We agreed in these times of the twin threats of Honda Omicon and Peacock Pox, I should be more sensitive to those who may be harmed by annoying realtors. To further this initiative, if posters want to outline their opinions of what makes a realtor annoying, please post it here, or if it’s going to be more than one full page, just shoot me an email. Thanks.

          Management.

          2. To further this initiative, if posters want to outline their opinions of what makes a realtor annoying, please post it here

            Um…existing?

    3. It nice to see someone is realizing that the Bay Area is going to mirror Detroit. They have more in common than people think. Detroit 1.0 was the industrial revolution and got Detroit started. The auto industry was Detroit 2.0 and with that came the advanced monopolization of the land. Towards the end of the good times they were driving the native population out and replacing them with workers who were willing to live in boarding houses. Once things went too far it was a long slide of self destruction leading to where it is today.

      Bay Area 1.0 was the chip industry and this put it on the map. Bay Area 2.0 is the interweb thing and this has caused monopolization of the land. We are seeing them drive the native population out and replace them with foreigners who are willing to live in boarding homes.

      There is nothing left for The Bay except a long road of self destruction because the land has gone far beyond what is economic. The networked companies increasingly will have no reason to stay and neither will the natives. The children will not return for the mansions and it will all fall apart just like Detroit. It will take decades to play out but you can already see the signs if you are paying attention.

      I believe most of the west will look a lot like the rust belt in a few decades. We shall call it the stucco belt because they got stucco.

  2. ‘The highs of the last two years saw prices in Jindabyne double – and more – across all dwelling types. Units went from the high $100,000s to $400,000. Berridale was the same: a $300,000 house became $600,000. And that was a typical phenomenon across the region…‘I recall one example where a house in Batemans Bay went from $750,000 to $1.2 million in one year’

    ‘In February 2020, the benchmark and average prices for a single family home in Langley were just over $1 million. Starting in the late spring of 2020, the average price of a single family home in the Fraser Valley shot up from just over $1 million to a peak of $1.9 million in February of this year’

    Here’s yer I told you so. I don’t know if any “expert” said it, but I was clear: these kinds of price increases fer shacks were bat sh$t crazy. Read em and weep boys.

    1. I have watched gas buddy. Friday local Costco was at $4.10. Saturday $4.25. Right now Sunday evening $4.35. Daily increases going on now.

  4. And for a lot of buyers, they’re not as concerned at the actual sale price as they are at the monthly payments.

    The stupid, it burns.

    1. People don’t buy a house (or car) they buy a loan. And all most of them care about is how much per month. You notice ever since they went to this model, not only are most people broke, but prices of houses and cars have exploded. (esp as rates have dropped).

      until they go to sell in a rising rate environment. Then they can’t understand how their great deal of $999/month for the rest of their life has turned into $100,000 loss.

      Idiocracy was a documentary.

    1. The Financial Times
      Cryptocurrencies
      Slumping cryptocurrency prices undercut pay cheque trend
      Mayor of New York says ‘bitcoin is here to stay’ after converting some salary to digital assets
      New York City mayor Eric Adams
      Eric Adams, New York City mayor, automatically converted his first three pay cheques into cryptocurrency
      Madison Darbyshire and Joshua Chaffin in New York and Joshua Oliver in London
      June 4 2022

      The slide in cryptocurrency markets has called into question a trend that peaked along with its price: getting paid in digital assets.

      Celebrities and other public figures flaunted their plans to receive pay in crypto. But the value of leading coins has plummeted this year, leaving those payments worth less in dollar terms.

      Eric Adams, mayor of New York City, was among the recipients. After taking office in January, he said that his first three pay cheques would be “automatically converted” to ethereum and bitcoin via Coinbase, the crypto trading platform.

      His first biweekly payment, worth $9,925 on a pre-tax basis in dollar terms, was deposited on January 21.

      Since that date the dollar values of bitcoin and ethereum have fallen by 20 per cent and 29 per cent, respectively. If split evenly between the two cryptocurrencies, Adams’s first pay cheque would now be worth $7,416.

      Adams was undeterred, comparing volatility in crypto with the stock market. “People who look at bitcoin and say, ‘OK, it’s dropped’. Well, what stocks have not dropped?” he said in a recent interview with the Financial Times, referring to the parallel weakness in equities this year.

      He added that he had no regrets or second thoughts about his decision to be paid in crypto, a move intended to demonstrate the city’s commitment to the fledgling industry.

      “I lost about a hundred-and-something thousand dollars when the stock market crashed out of my 401(k),” Adams said. “We know it goes up and down. Bitcoin is here to stay, and the bulk of the investment is here in New York City.”

      Athletes including NFL player Aaron Rogers and Nascar driver Landon Cassill all agreed in recent months to receive at least some pay in digital currencies.

      Trevor Lawrence, the quarterback of the Jacksonville Jaguars NFL football team, agreed to receive his $22.6mn signing bonus in cryptocurrency. If he held it in bitcoin, he would have just $9.8mn now, according to analysis by sports betting data company, The Action Network.
      …

  6. With 448 more properties on the market than in April, the metro area ended the month of May with 3,652 properties, a staggering 76% increase over last year at the same time.”

    Is that a lot?

  7. IBuying has proven, over these years, to be a grand experiment in search of economic justification. A path proving anything but easy.

    Die, speculator scum.

  8. This was posted in the previous thread:

    https://www.igadgetsworld.com/top-5-reasons-why-samsung-smartphones-actually-suck/

    My personal rant: I had a Galaxy note 10 I got a couple years ago at best buy. It suddenly crapped out recently and I got a new one for free from Verizon. I didn’t understand why they offered that but hey.

    Anyway, one of the things I liked initially was you could go in and turn lots of things off or get rid of them. Made it run way faster, use less battery, less spying. The new one really reduces the ability to do that. So I got a phone that’s constantly updating apps I never use, needing to be charged, etc.

    1. Your own personal pocket spy so the globalists’ creepy Orwellian tech companies can monitory and surveil your every move and monetize all your data.

      1. I often leave my phone at home when I go out. Kind of defeats the purpose of having one, though.

    2. “The new one really reduces the ability to do that. So I got a phone that’s constantly updating apps I never use, needing to be charged, etc.”

      Sounds like my phone.

      I’m wondering if it would be too much to ask the U.S. government to ban Samsung from U.S. markets, given their sucky bloatware ridden devices are a huge consumer scam?

      1. If you buy Samsung’s unbranded and network unlocked version you will not have to contend with AT&T or Version bloatware, and if you purchase the Nova Prime Launcher you can hide all of the apps that you don’t use from appearing on the homescreen, remove their permissions and disable their services from starting.

        1. Thank you.

          In a perfect world, the legally required default would be no bloatware, so no need to disable or delete it.

          Sadly, the world is far from perfect…

          1. Of course Samsung is beholden to Qualcomm’s Snapdragon bundling agreements for their U.S. phones. The collusion is baked-in.

    3. I guess I’m lucky my GF is a techie, got a special at work on the Samsung s21 and a watch bundle, so I got the hand me down s20, been that way for years, I think the last phone actually bought was a 2 for 1 Verizon special on a flip phone….

  9. What’s emerging in its place is an age of diminished expectations marked by job cuts and hiring slowdowns, slashed growth projections and shelved expansion plans.

    So telling Real Journalists who get axed from failing globalist media propaganda outlets to “learn to code” might no longer be viable career advice?

    1. Perhaps learn to dig, nail, drive, or say “you want fries with that” are viable replacements?

      1. Javascript coders are a dime a dozen.

        Sure, but good ones are worth Rosie O’Donnell’s weight in gold 🙂

  10. ‘Despite cuts happening across all stages, many of the recent layoffs have come from companies that, just one year ago, hit unicorn status’

    Da winnahs! it’s increasingly clear all the hubbub was phony bux going to money heaven. One of the “tech” firms that recently cratered in India was about furniture!

        1. So the most rapid housing price inflation in the history of time has occurred since the onset of the pandemic? And now they’re breaking it off in the specuvestors’ arse?

          Kuhl. Got popcorn?

        2. Housing only goes up.
          People have to live somewhere.
          They’re not building any more land.

        3. The FED and the government are absolutely despicable. What they have done to the economy is unforgivable.

    1. At least the pedos/perverts have answered the question is it “Nature or Nurture” forever. If it’s “nature”, then it’s not necessary to groom and recruit.

      The truth is finally out in the open and it is ugly.

  16. we have a local company that makes automotive cloth , It’s cutting hours and getting ready to lay off…..At the same time there are very few cars or trucks to buy New, what gives there? They can’t blame the so called chip “shortage” ,forever ……..

    1. “chip “shortage” ,forever ……..”

      Sadly they can…or it will be Puti man. They are just biding time for another ‘crisis.’

    2. Now they are blaming a “wire harness shortage”.

      Bottom line: they don’t want you to have a car, ICE or electric.

  17. Former Judge Killed In “Targeted” Attack Against Judicial System, Officials Say

    “A retired judge was shot and killed at his home in Wisconsin on Friday in what has been described by officials as a “targeted” attack against the judicial system.”

    https://www.zerohedge.com/political/former-judge-killed-targeted-attack-against-judicial-system-officials-say

    Unintended Consequences by John Ross (recently deceased RIP) come to life.

    Select, private citizen, uncoordinated, assassinations of corrupt government officials. Not the head of the snake, you can’t reach them. But make it painful to work for them.

    So, Glowie, you keep protecting your employer during your day job. Just make sure to look around at night when you walk the dog.

    1. The perp was a career criminal who the late judge sentenced to six years on a burglary conviction, so assuming this is related to judicial corruption is a rush to judgment that might not be supported by the facts. Of course the media is linking the attacker to Trump, the Republican Party, and far-right militias. #KnowYourNarrative

      https://www.dailymail.co.uk/news/article-10885795/PICTURED-Man-accused-shooting-dead-retired-judge-Mitch-McConnell-hit-list.html

        1. We’ll have to wait until Big Sis at the Disinformation Governance Bureau weighs in. Cuz she’s been “verified” as a credible source – she said so.

  18. ‘It’s interesting because if something’s not priced right, you can tell pretty quickly because it’s gonna sit for a while…A year ago if something was priced right, it would be pending in a week or less.’”
    The comparison makes no sense. ???

  19. Association of Mature American Citizens
    As Inflation Explodes, “Modern Monetary Theory” Faces Reckoning
    May 25, 2022|By AMAC Newsline
    AMAC Exclusive – By Andrew Abbott

    When Democrats passed trillions in new spending last year right on the heels of trillions in spending in 2020 to help alleviate the economic fallout from COVID-19 shutdowns, fiscal conservatives and rational economists warned that out-of-control inflation and economic ruin were sure to follow. Yet now that those warnings have proven prescient, President Joe Biden and his allies in Congress are still pushing ahead with plans for more massive government expenditures. While this course of action may seem to many Americans to be detached from reality, it is just the latest example of the so-called “Modern Monetary Theory” (MMT) in action.

    The basic idea behind MMT is that because a country controls the money supply, it can simply print more money to pay off any debts. Therefore, the theory argues, governments can borrow and spend money indefinitely without consequence, even without raising additional revenue to finance the debt. Instead of the prevailing wisdom that deficits are bad, MMT says deficits are good. Moreover, since the government doesn’t need to raise revenue, the federal interest rate should always be 0%.

    While most trained economists remain highly skeptical of MMT, arguing that spiraling inflation and deficits will wreak havoc on the economy, the theory has perhaps quite predictably become a favorite of progressives aiming to spend trillions of dollars on their plans to “remake America.” Far-left Democrats like New York Congresswoman Alexandria Ocasio-Cortez and Massachusetts Senator Elizabeth Warren have emerged as particularly ardent evangelists of the theory, using it as a catch-all explanation anytime questions arise about how they plan to pay for all their proposed social programs.
    …
    https://amac.us/as-inflation-explodes-modern-monetary-theory-faces-reckoning/

    1. Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed
      Published Fri, Jun 3 2022 2:21 PM EDT
      Updated Fri, Jun 3 2022 6:21 PM EDT
      Jeff Cox
      Key Points
      — Cleveland Fed President Loretta Mester said Friday that she doesn’t see enough evidence that inflation has peaked and is on board with supporting multiple interest rate increases.
      — Mester also doesn’t expect the central bank to pause after the summer, though she said the magnitude of the moves could be reduced if inflation falls.
      — “I don’t want to declare victory on inflation before I see really compelling evidence that our actions are beginning to do the work,” Mester said in a live interview on CNBC’s “The Exchange.”
      …
      https://www.cnbc.com/2022/06/03/feds-mester-says-inflation-hasnt-peaked-and-multiple-half-point-rate-hikes-are-needed.html

    2. Is it safe to conclude that MMT is destined to become a dead albatross wrapped around the necks of its Democratic party champions?

    3. “Some are throwing in the towel. The housing goliath Zillow exited iBuying in November of last year after realizing over $28,000 in an average loss per home.

      But they made it up in volume for the shareholders.

      On another note, AWS (Amazon Web Services) has been bugging me night and day for 3 months to come and work for them. Signing bonus, relo assistance and restricted stock options. Multiple recruiters calling and emailing from multiple locations and now, they don’t even return e-mails. Hmmm, wonder what’s going on in the tech world these days?

      2. AWS was supposed to be endless growth, and everyone was supposed to ditch their on prem servers and storage and move everything to the cloud.

        I too had AWS blow in my ear. AWS has the reputation of being a sweatshop. I passed.

        1. Amazon plans for a 2 year burn out cycle. Look at the offer and incentives.
          Amazon devs we wok with at JPM seem pretty competent.

    4. We have many dangerous idiots steering us towards certain financial ruin. They have to be stopped.

  20. “‘A lot of the buyers right now are gauging those prices based on interest rates and what their monthly payment’s going to be. And for a lot of buyers, they’re not as concerned at the actual sale price as they are at the monthly payments. That’s really kind of where the rubber meets the road for them,’

    Given that the how-much-a-month crowd is the primary driver of residential real estate demand, a doubling of interest rates represents a devastating blow to equilibrium housing prices.

    3. Uvalde shooter spent over $9,000 on his arsenal, at 18 years old, with no job

      When I heard about that, my first thought was that he was recruited and supplied. Plus the police sitting on their hands while he rampaged make me think it was all staged.

      Our “ruling class” is truly evil.

      2. Uvalde shooter spent over $9,000 on his arsenal, at 18 years old, with no job

        He worked at Wendy’s to get enough money to buy two Daniel Defense AR-15s (which would’ve cost around $2,500 apiece). He creeped out his female co-workers.

  22. Did ABQ Dan just resurface?

    Evergrande bondholder: “I will never see my money again”

    https://www.asiamarkets.com/evergrande-bondholder-i-will-never-see-my-money-again/

    As China Evergrande reportedly begins negotiating creative ways to repay billions owed to offshore bondholders, a paying agent of one of the embattled property giant’s USD-denominated bonds has sent a letter to investors officially confirming default.

    Dr Marco Meltzer, a respected German financial analysts and outspoken critic of the handling of Evergrande’s debt crisis, says he received a letter from Citi earlier this week all but confirming the company is broke.

    1. “…he received a letter from Citi earlier this week all but confirming the company is broke.”

      How is it possible that the Masters of the Universe are just now figuring out that Evergrande is broke when the Housing Bubble Blog brain trust already knew this by year-end 2021?

      1. This is like the 27th headline I’ve seen over the last few months indicating that Evergrande is broke or in default.

  23. Elon Musk won’t be a billionaire or a free man for very much longer if he keeps asking questions about verboten topics. The Deep State has a way of permanently silencing its critics.

    Elon Musk asks why ‘leaking’ Justice Department won’t spill Jeffrey Epstein and Ghislaine Maxwell’s client list and says it’s ‘odd’ officials remain silent on billionaire pedophile and his madam

    https://www.dailymail.co.uk/news/article-10886561/Elon-Musk-asks-leaking-Justice-Department-wont-spill-Epstein-Maxwells-client-list.html

    2. Indeed. The MSM is usually “champing at the bit” to out alleged predators even before they’ve been tried in a court of law. The beautiful thing about standards…there are lots of them.

      1. “The Deep State has a way of permanently silencing its critics.”

        Like persuading them to commit suicide? 🙂

          1. ‘In a series of tweets on June 4, Tesla and SpaceX CEO Elon Musk said it is “remarkable” how the U.S. Department of Justice has not published the list of clients of convicted sex offender Epstein and his co-conspirator Maxwell, a convicted sex trafficker. The pair were accused of procured, trafficked, sexually abused a vast network of female minors as young as 11.’

            ‘What is more “remarkable,” Musk said, is that “no one in the media cares” about the Epstein-Maxwell case.’

            ‘The New York City Medical Examiner’s Office ruled that his death was suicide by hanging. However, a forensic pathologist who was hired by his brother, Mark Epstein, said Epstein’s autopsy was more indicative of homicide, not suicide.’

            ‘A jury found Maxwell guilty of six sex-trafficking charges in December 2021.’

            “Sometimes I think my list of “list of enemies is too short, so…” Musk wrote in the thread of posts on Twitter.’

            ‘A commenter to the threat posted a picture of Musk and Maxwell at a Vanity Fair party in 2014. In response to the picture, Musk took a further swipe at those who are pushing the theory that he is associated with Maxwell and Epstein.’

            “Ah yes, Maxwell photobombing me at a @VanityFair Oscars party – you should them why they invited her,” Musk wrote. “The same people who push this photo say nothing about prominent people who actually went to his island a dozen times. Also very strange …”

            https://www.theepochtimes.com/elon-musk-says-no-one-in-the-media-cares-about-exposing-jeffrey-epsteins-alleged-clients_4512597.html

          2. “people who actually went to his island a dozen times”

            Let’s talk about these people. Let’s encourage some people to go talk TO these people. And make sure you’re recording video when you do.

            Do what Mad Maxine Waters said, and “get in their faces. 2020 Summer Of Love, right?

            Saint Kyle is America’s Son.

            And Kyle Loves You 🙂

    1. Univision is MSM, but in Spanish. They were screaming at people to get jabbed too.

  25. Toronto Real Estate Market Update May 2022 – Prices Down $121,000 since February
    Jun 4, 2022

    ‘Toronto’s real estate market continued to drop in May, down $121,000 dollars since February, as the market rapidly shifts to a buyer’s market. With the benchmark, average and median price of a home in Toronto all falling.’

    ‘With Toronto prices falling so too is the excitement of home-buyers, with many expressing buyers remorse. Real Estate lawyers are fielding an upsurge in calls from buyers looking to back out of deals, and sellers wondering what to do when buyers back out.’

    ‘These shifts in buyer behavior are likely to remain as prices continue to correct throughout Canada’s real estate market.’

    April Toronto Benchmark Home Price – $1,354,000
    May Toronto Benchmark Home Price – $1,261,800

    February Toronto Average Price – 1,334,544
    April Toronto Average Home Price – $1,254,436
    May Toronto Average Home Price – $1,212,806

    April Toronto Median Home Price – $1,098,000
    May Toronto Median Home Price – $1,050,000

    April SP/LP – 107%
    May SP/LP – 103%

    April Months of Inventory – 0.9
    May Months of Inventory – 1.0

    https://www.youtube.com/watch?v=v7OWmJ4xq84

    5:11. One month inventory and crater.

    2. “Ballot Mules Funded by Obama-Linked NGOs Pouring Billions Into ‘Local Insurgencies’: Chief Analyst”

      Is wasnt more than 90 days ago that one of the KnowNothings posted here that “Obama isn’t interested. He’s enjoying retirement” or something like that.

  27. I made a comment about a photo Deplorable had posted of his work saying it looked like the work of a master electrician and then I thought to myself, self?

    Are you allowed to say “master electrician” anymore? Did the Soros sponsored Woke army of lefty loons actually miss master plumbers and master electricians?

    Surely the Washington Redskins, now the Washington Commanders had employed master electricians. Undoubtedly the Cleveland Indians, now the Cleveland Guardians needed the services of a master plumber after a long home stand.

    When the leaders of BLM were buying and flipping multi million dollar homes to each other to launder their corporate donations, did they say…

    The home inspector said I need a new main breaker panel so could you send that undocumented apprentice you hired last week pulling wire over there because I don’t want any master electricians in my house.?

    Just wondering, I guess they just haven’t gotten to it yet. So many lies to cover up, so many people who call them out on their lies to Dox.

    1. It’s not just the titles that will get changed but the National Electrical Code as well, too much problematic language in there.

      We have a female journeyman electrician foreman working at our company, and no she is not a lesbian.

  28. Summerlin Real Estate Market Report May 2022
    Jun 3, 2022

    ‘The Summerlin real estate market report May 2022 shows a great deal of activity for the Summerlin region. Seen as one of the most prestigious areas of Las Vegas Nevada, Summerlin real estate was quite active in May 2022. Sellers of Summerlin real estate listed their homes in far greater numbers. Prices trended lower, and time on the market before sale trended higher. Still, this is a strong market. Region by region in Summerlin we break down the real estate market for May 2022.’

    https://www.youtube.com/watch?v=2bFXSlOv8F4

    4:17. Do you see the pattern?

    1. The cracks are appearing everywhere. So far, my little burg still seems immune, but it’s only a question of time.

      At least the last time this happened, there wasn’t any mega inflation with rampant crime. Speaking of crime, the local Comic Con is next month. There is no way in Hades that I’m going to downtown Dumver to attend, plus there is little doubt that the con will be hopelessly woke, with rainbows everywhere.

      1. Reddit /r/Denver threads about crime, homeless, tweakers and junkies all get hundreds of replies.

        TDS still rules the roost, because Reddit. But there are subtle but growing murmurs that “vote like California, become California” isn’t such a good thing 🙁

        “They’re not sending their best”

  29. Guelph real estate listings: more for less in May 2022.
    May 16, 2022 Guelph real estate listings: more for less in May 2022.

    ‘This month for Guelph Today, Beth and Ryan Waller, Guelph Realtors talk about rising inventory in the local market. From 25 houses in early January to 296 in late May, a 10x increase in inventory has impacted the market.’

    ‘Why? Rising interest rates, day to day inflation impact, daily news media and other factors are causing buyers to stay on the sidelines. At the same time, sellers continue to put houses on the market, possibly for the same reasons.’

    ‘With pressure on prices, some buyers who purchased in the Jan- March timeframe are having trouble with home appraisals coming in at the value they paid. As a result, they’re finding themselves under water upon closing.’

    https://www.youtube.com/watch?v=9VROWcayj_Q

    1:53.

    Flight One Zero Niner to tower.

    Tower copy.

    I see a little guy on a broom over Guelph. I think, I think it’s…Harry Potter!

  30. I was walking by and went into an open house about a month ago, a “garden level” condo, 126 Amory St # B4 in Brookline, close to Boston University. 600K for a basement condo, on a fairly busy street. No accessible outdoor space although a nice park around the corner. I don’t remember seeing any closets, just a couple of curtains. Condo fee low for this area at $180 and a parking spot. Now has a 30K price reduction to 569K.

    1. Having attended BUSL and lived in Brookline the entire time, I’m confident that I’d be suicidal come February in a garden level condo.

  34. Linked from NoNewNormal.

    “Encourage women to smell their poop to be more inclusive to Trans women.

    Some women have a hole where their penis used to be, and that hole often shares microbiome with the colon—creating a distinct transitioning odor.

    In solidarity with Trans women, this month you can make a difference by putting your olfactory system to use – while going number #2!”

    https://iqfy.com/women-smell-trans-inclusivity/

    “They’re not sending their best”

  35. 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.”

  36. Does it seem like an unshakable faith in MMT is hanging on in some parts of the world?

    1. The Financial Times
      European Central Bank
      ECB to firm up plans to ward off bond market stress
      Council members likely to commit to counter any turmoil triggered by higher rates
      A visitor passes a bull statue near the entrance to the Euronext stock exchange in Amsterdam
      The Euronext stock exchange in Amsterdam. ECB policymakers will meet in the city this week to outline plans to counter bond market turmoil
      Martin Arnold in Frankfurt yesterday

      The European Central Bank is this week set to strengthen its commitment to prop up vulnerable eurozone countries’ debt markets if they are hit by a sell-off, as policymakers prepare to raise rates for the first time in more than a decade.

      The bulk of the 25 governing council members are expected to support a proposal to create a new bond-buying programme if needed to counter borrowing costs for member states, such as Italy, spiralling out of control, according to several people involved in the discussions.

      Even without a new scheme, the ECB already has an additional €200bn to spend on purchasing stressed government debt under its existing bond-buying programme. That €200bn would come from bringing forward reinvestments of maturing assets by up to a year.

      Italian government debt rallied on Monday morning, pushing the yield on the country’s benchmark 10-year bond down as much as 0.1 percentage points to 3.3 per cent.

      The gap between Italy’s 10-year borrowing costs and those of Germany, a key measure of perceived financial risk in the euro area, fell from 2.14 percentage points at the end of last week to 2.07 percentage points. The spread rose last week to its highest level since a sell-off in southern European bond markets at the start of the pandemic in 2020.
      Line chart of Spread in 10-year yields (percentage points) showing Gap between Italian and German borrowing costs has widened in 2022

      Rate-setters, who meet in Amsterdam on Wednesday and Thursday, are likely to clash over when to stop buying more bonds. Some plan to call for purchases to be halted as soon as Thursday, several weeks ahead of schedule, although they concede that only a minority may support the idea.

      The bank is under pressure to react to record-high inflation, but has lagged behind its counterparts in the US and UK in tightening monetary policy. Many of the council’s hawks have accepted they will need to provide more support for bond markets to clear the way for being more aggressive in raising rates.

      Almost all of the council accept that the ultra-loose monetary policy it has pursued for more than a decade needs to end. A rise of at least 25 basis points is all but certain to happen at the ECB’s next policy meeting on July 21. The deposit rate is now minus 0.5 per cent.

      Citizens in the region are facing a surge in the cost of living, aggravated by Russia’s invasion of Ukraine. Consumer prices in the eurozone rose 8.1 per cent in the year to May — quadruple the ECB’s 2 per cent target and double the previous high since the single currency was launched in 1999 — forcing governments to pay subsidies to cushion the impact of higher energy and food prices on households.
      Line chart of showing Eurozone inflation has soared above the ECB’s target

      However, some are concerned about the market fallout from raising rates and want a firmer commitment to launch a new bond-buying scheme to counter any unwarranted surge in the borrowing costs of heavily indebted countries.

      ECB president Christine Lagarde said in a blog last month: “If necessary, we can design and deploy new instruments to secure monetary policy transmission as we move along the path of policy normalisation, as we have shown on many occasions in the past.”
      …

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