Where Did The Buyers Go? June 7, 2022 Ben Jones Uncategorized Bay AreaHousing bubbleShare ThisTweetSharePlus oneShareEmail Related Posts The Name Of The Game When You’re In Lean Periods A reort from the Wall Street Journal. "The mortgage-market slowdown is stirring up interest in… Similar Stories Of Loss And Pain A report from CNBC. "'I am seeing homebuyers cancel a contract if their payment is… The Concept Of Too Big To Fail Obviously Has Been Proven Wrong It's Friday desk clearing time for this blogger. "Glenn Kelman -- Redfin's Chief Executive Officer:… This Post Has 34 Comments Dramatic Drop in the Housing Market Activities! | May 2022 Bay Area Housing Market Updates May 23, 2022 Seems like the #BayArea #HousingMarket has slowed down this month, listings are not receiving double-digit number of offers, and homes are taking longer to sell. Where did the buyers go? How long will the slow down last? Especially interesting in the 8th and 11th minutes. A reader sent this in: 5) The most common concessions are… Here is a word cloud to show the most common concessions in Sacramento County in 2022. The larger the word, the more common the word was in MLS. I made this by exporting concession descriptions to wordclouds.com. And here is a list with the top concession descriptions shown in MLS. The number one word was “closing” due to “closing costs” being a massive reason for concessions. https://sacramentoappraisalblog.com/2022/06/06/buyers-gaining-power-farewell-real-estate-honeymoon/ Record gas prices force Coloradans to reevaluate commutes and summer travel plans (6/6/2022): “Coloradans are coming face-to-face with eye-popping price tags as they hit the road this summer. On Monday, the state’s average price for a gallon of unleaded reached $4.62, which is the highest it has ever recorded. The number is even higher in mountain communities, with places like Aspen and Telluride seeing average prices well over $5 a gallon. The jump represents a 40 percent increase from this time last year. Prices rose $.60 per gallon for regular unleaded in the past month alone as the summer travel season kicked off, according to AAA Colorado, which tracks fuel costs across the state.” https://www.cpr.org/2022/06/06/colorado-drivers-pump-brakes-gas-hits-record-high/ Can the Pedo Joe administration fail any harder? Yes, yes it can. Everything that can possibly get worse, will only get worse. “This sucker could go down” — George W. Bush $64 dollars to fill up my Subaru this morning. FJB They’re blaming the rise on Putin, LOL. Apparently they can’t read a graph as prices were rising well before March 2022. https://tradingeconomics.com/commodity/crude-oil On Monday, the state’s average price for a gallon of unleaded reached $4.62, which is the highest it has ever recorded. The price took a huge jump from Sunday night, when I filled up, to the next day. So, will Brandon do something like open leases up, temporarily reduce other restrictions, to lower prices as November approaches, or will they just rely on the Democrat Ballot Box Stuffing Machine ™ to keep control of the House and Senate? Stuffing Machine ™ How about a Monkey Pox Quarantine? Remember the libertarian position of nobody cares what consenting adults do in the privacy of their bedroom? Oh, wait. You’re not supposed to remember that. Marxism. Everything about the destruction of gender, the destruction of the nuclear family, and the confiscation of children from parents and awarding their custody to the state traces its roots to Marxism. Campus Reform — Matt Walsh film forces academics to confront their hypocrisies on gender ideology (6/5/2022): “What is a Woman? features Walsh as he traveled across the country to seek the answer to the film’s eponymous question. Walsh was consistently shut down by gender activists when he scrutinized their logic.” Because there is no logic. Women have ovaries and breasts and a vagina. “The documentary delicately mixes humor and seriousness that keeps the reader engaged as Walsh one-by-one undermines every argument presented by radical gender activists. Walsh covered a spectrum of milestones in the gender debate, most notably the Loudon County, Virginia, investigation that accused the public school system of covering up a sexual assault in the girl’s bathroom after a male was allowed to use it.” https://campusreform.org/article?id=19658 Trannies raping kids in school bathrooms. This is the brand, this is the identity, this is the electoral platform of the Democrat Party for 2022 and 2024. “They’re not sending their best” The New York Times is globalist scum media. The Hardest Part of Having a Nonbinary Kid Is Other People (6/1/2022): “A mother recounts the pushback she received from her own family in raising a gender-nonconforming child.” https://archive.ph/eBa4P There is no such thing as a non binary child. There are only groomer parents. If the internet and social media didn’t exist, none of this would be happening. There is no such thing as a non binary child. Times one bazillion https://i0.wp.com/stonetoss.com/wp-content/uploads/2022/05/lgbt-disney-stonetoss-comic.png The Washington Post is globalist scum media. How long covid could change the way we think about disability (6/6/2022): “The coronavirus pandemic has created a mass-disabling event that experts liken to HIV, polio or World War II, with millions suffering the long-term effects of infection with the virus. Many have found their lives dramatically changed and are grappling with what it means to be disabled.” This is all a lie. “The coronavirus pandemic has created a mass-disabling event that experts liken to HIV, polio or World War II, with millions suffering the long-term effects of infection with the virus. Many have found their lives dramatically changed and are grappling with what it means to be disabled.” The globalists poisoned you. “The shift also underscores the challenges of creating common cause among people who have sometimes battled over limited resources. Those tensions resurfaced as some who share similar symptoms with covid long-haulers, including persistent fatigue, saw research dollars pour into long covid.” https://archive.ph/l4Prv Remember when they threatened to get you fired from your job if you did not get injected with mRNA gene altering poison? Do you remember? I remember. The HBB remembers. It’s a medical genocide. One to which there will be no “get out of jail free card” because the punishment for medical genocide will be execution, preferably by hanging. Globey, you gonna die… The 2020 election was stolen. The Guardian — Capitol attack panel to unveil new evidence against Trump at public hearings (6/6/2022): “The House select committee investigating the Capitol attack will unveil new evidence at Watergate-style public hearings this week showing Donald Trump and top aides acted with corrupt intent to stop Joe Biden’s certification, according to sources close to the inquiry.” LIES. “The panel intends to use the hearings as its principal method of revealing potential crimes by Trump as he sought to overturn the 2020 election results, the sources said, in what could be a treacherous legal and political moment for the former president.” LIES. “As the justice department mounts parallel investigations into the Capitol attack, the select committee is hoping that the previously unseen evidence will leave an indelible mark on the American public about the extent to which Trump went in trying to return himself to the Oval Office.” https://www.theguardian.com/us-news/2022/jun/06/capitol-attack-panel-public-hearings Summer 2020 was an actual insurrection, with the seizure of territory and the proclamation of an autonomous state. The 2020 election was stolen. Housing Market In Denver Slowly Calming Down, Report Says https://denver.cbslocal.com/video/6249549-housing-market-in-denver-slowly-calming-down-report-says/ This is a 2:34 video. I had to sit through a long ad to watch it. You have no idea how bad it is in Denver. Tweaker and junkies everywhere, people sleeping / passed out on the sidewalk at all hours of day and night. The state legislature decriminalized fentanyl in 2019 (a 15 year old kid just overdosed on fentanyl at a Dairy Queen here, went into a coma, and died a week later) and the streets of Denver and its near suburbs illustrate the consequences. These “progressive” sh*tbags voted to turn this city into Night Of The Living Dead. Every morning I come downstairs, I wonder if my work van’s catalytic converter is still there, or even if my van is still there. It’s the “vote blue no matter who” @ssholes who did this. Vote like California, become California. Things should get “interesting” by Labor Day. The predictions of “no one will walk away from their houses” will be put to the test by then. Slowly Calming Down They just can’t say it. Where did the buyers go? The whole concept of no inventory is bs bc price is the determinant. If a house was 10 dollars there would be no inventory. At these prices good luck. You will own nothing. Gasoline too expensive for me to even buy. I’ve never seen a presidency this damaging. It’s almost like it’s on purpose. The market is booming Where are the buyers Inventory is looming Realtors Are Liars Coatesville, PA Housing Prices Crater 21% YOY As Chester County And Philadelpha Area Housing Prices Drop Like a Rock https://www.movoto.com/coatesville-pa/market-trends/ You will own nothing: https://www.marketwatch.com/story/home-affordability-has-collapsed-in-2022-what-to-expect-next-according-to-bofa-11654555884 I think a lot of players are counting on the Fed to help lower mortgage rates later this year. Normally, I would laugh and say “good luck with that”, but now I’m not so sure. Maybe their thinking that as long as the shanties and stawks keep appreciating that we’ll be ok with high inflation? Regarding the cost at the pump, I think the coal mine canary will be when we start to see new and used pickups and large SUVs pile up at car dealerships. I remember last time it got so bad that dealers were refusing to accept pickup as trade ins. New HD picks ups are falling already. I priced a dirtymax over the weekend. They’re lower now than I paid in 2016. The Toyota 4Runner gets terrible mileage, and I see inventory is increasing on AutoTrader. Meanwhile the new VW Golf R is still commanding $15k over MSRP! I sold my Audi Q5 on Saturday. My mom’s 2004 MINI MC40 with only 55K miles is in the shop getting back in shape. I sold my Audi Q5 on Saturday Good move. Replace it with a Civic or a Corolla. I won’t be replacing it anytime soon. Another hybrid or electric makes the most sense. I wish VW was importing the ID.3. I loved my Audi A3. Perhaps VW will reconsider in the next 2 years. “shanties and stawks keep appreciating that we’ll be ok with high inflation?” Yep. Path of least resistance…that’s what they will lose. Total collapse, when that happens, will be magnificent. Santa Ana, CA Housing Prices Crater 12% YOY As Orange County California Housing Market Turns Into A Toxic Stew Of Subprime Mortgage Defaults https://www.movoto.com/ca/92705/market-trends/ As one market maker joked, “If you see a realtor in your neighborhood, lock the doors and call the authorities immediately.” Coeur D Alene, ID Housing Prices Crater 11% YOY Soaring Mortgage Defaults And Plunging Rental Rates Decimate Idaho https://www.movoto.com/coeur-d-alene-id/market-trends/ As one Idaho broker declared, “Buyers and sellers are financial cripples. “There’s only one offer….$100k over asking price.” Bidding against themselves. Brilliant. How about just pay the asking price? WTF? 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