Buyer’s Backing Out Of Deals June 25, 2022 Ben Jones Uncategorized Greater TorontoHousing bubbleSan FranciscoShare ThisTweetSharePlus oneShareEmail Related Posts Bull Markets Have A Way Of Masking The Risks A weekend topic starting with Fox Business. "Federal Reserve Chairman Jerome Powell downplayed significant price… We’ve Done Nothing But Drop It And Still, Nobody Even Offers A report from CBC News in Canada. "Chris Drinkwalter's newly-renovated condo in southeast Edmonton has… We’re Coming Out Of A No Rules Era A report from Miami Community News in Florida. "It is as if the collective consciousness… This Post Has 20 Comments From the 8 minute K-da video: Buyer’s Backing Out Of Deals – Finance Friday’s Jun 24, 2022 This is significant when you consider in as late as March it was to the moon Alice! up there. The second 5 minute video: PRICE REDUCTIONS and RISING INVENTORY in San Francisco! Jun 23, 2022 The market has shifted considerably in the past two months. Mortgage rates spiked aggressively, which has caused the housing market to cool off and inventory and price reductions to increase notably. The market peaks every Spring in San Francisco, and prices taper into the Fall and Winter before the cycle repeats itself each year. Historically, the Summer is “slower” for real estate in SF. This year, we are seeing more sellers jumping the gun and listing in June due to the uncertainty of the financial markets and the expected rate hikes to combat inflation. All of this is causing an influx of inventory and price reductions on some, but not all, properties. If you’re a BUYER – • This is what you’ve been waiting for. The ball is in your court. Let me help you NEGOTIATE AND GET A DEAL! If you’re a SELLER – • Don’t panic. I can help you properly prepare the property for the market. No stone is left unturned & let’s PRICE IT CORRECTLY! ‘Yet a big question still facing investors, lenders and anyone trying to navigate the still-hot housing market is whether the Federal Reserve will start selling its trove of mortgage holdings to fortify its inflation fight. The central bank is so far trying to counter inflation by more traditional means: raising benchmark interest rates.’ “If they really want to sound like they are committed to price stability, selling MBS could be something to explore,” said Priya Misra, head of global rates strategy at TD Securities, by phone, about the Fed’s $2.7 trillion holdings of mortgage-backed securities.’ “But I don’t think they will,” she added.’ https://www.msn.com/en-us/money/markets/should-the-fed-start-selling-its-mortgage-holdings-at-a-loss-to-fortify-its-inflation-fight/ar-AAYQiAM There is no crisis…. in falling housing prices. Bushnell, FL Housing Prices Crater 23% As Tampa Sellers Take A Beating https://www.movoto.com/fl/33513/market-trends/ Insurrection in Phoenix AZ last night attacking the state capitol building while the legislature was in session. “They’re not sending their best” In addition to Andy Ngo’s Twitter, more good riot coverage available here: https://twitter.com/ElijahSchaffer Look at all the tattoos and obesity of these insurrectionists. “They’re not sending their best” Revolver News — Merrick Garland launches legal insurrection against the United States (6/24/2022): “Ladies and gentleman, we regret to inform you that Merrick Garland is at it again. His office just took two actions in two consecutive days that constitute a tacit legal insurrection against the United States of America. Just yesterday, in an unprecedented move, our intrepid United States Attorney General’s office released a statement saying that the DOJ “disagrees” with the Court’s ruling securing Second Amendment concealed carry rights. Then, today, Old Man Merrick took things one step further. The DOJ issued yet another statement “disagreeing” with the Supreme Court, this time on their ruling against a Constitutional “right” to abortion. But this time, Merrick Garland personally issued the statement himself, which makes this escalation that much more dangerous to our Republic. Of course, the DOJ has commented many times before that they are “disappointed” in a ruling, which is perfectly legitimate. However, to say the department “disagrees” with the ruling indicates that they will ignore and refuse to enforce the court’s ruling, which, to paraphrase the Democrats, is “extremely dangerous to our democracy.” Keep your eye out for if the blue states ignore or refuse to implement the Supreme Court’s ruling on concealed carry weapons. When the Democrats said for years that President Trump was “dangerous to our democracy,” it appears they were only projecting. Merrick Garland has just tacitly declared war on the Supreme Court. https://www.revolver.news/2022/06/breaking-merrick-garland-launches-legal-insurrection-against-the-united-states/ “They’re not sending their best” “Merrick Garland launches legal insurrection against the United States (6/24/2022):” Merrick Garland is one dishonest evil sleazy sneaky Heinrich Himmler looking and acting human. No comas because he is all of these things wrapped up in one. Breaking Investing New Home Sales Unexpectedly Rise But Housing Market Still ‘Cratering’—Here’s When Experts Predict Prices Will Fall Jonathan Ponciano Forbes Staff Jun 24, 2022,11:36am EDT Updated Jun 24, 2022, 01:16pm EDT New home sales unexpectedly broke a four-month streak of losses and climbed more than economists projected in May, according to data released Friday, but experts note the reprieve may not last long, citing rising mortgage interest rates that are likely to continue curbing demand—likely pulling down record prices as soon as the end of this year. About 696,000 new single-family houses were sold last month on a seasonally adjusted annual basis, climbing 10.7% above the April rate of 629,000 (which was revised up from 591,000) and far surpassing average analyst projections of 587,000, the Census Department reported on Friday. “Don’t be deceived,” Pantheon Macro chief economist Ian Shepherdson said in emailed comments after the report, saying the bounce doesn’t change market outlook given an “astonishing collapse” in mortgage applications this year as rapidly climbing mortgage rates—now at the highest level since the Great Recession—stunt demand. … https://www.forbes.com/sites/jonathanponciano/2022/06/24/new-home-sales-unexpectedly-rise-but-housing-market-still-cratering-heres-when-experts-predict-prices-will-fall/?sh=7fa049c3cfe8 CR8R In the headline! The Washington Post is globalist scum media. Washington Post — Supreme Court goes against public opinion in rulings on abortion, guns (6/24/2022): I didn’t know that “public opinion” was a Fourth Branch of the United States government? “The U.S. Supreme Court’s new majority boldly signaled with twin rulings this week that public opinion would not interfere with conservative plans to shift the nation’s legal landscape.” Globalist scum media. “The assertion punctuates a shift that has been evident on the high court since the death of Justice Ruth Bader Ginsburg in 2020. The high court during the George W. Bush, Barack Obama and early Donald Trump administrations generally hewed closely to shifting public views on key social issues like same-sex marriage, private sexual conduct, workplace protections for transgender people and popular support for laws and executive orders on immigration and health care.” Globalist scum media. “Up until a couple years ago, it used to be the case that where the court fell was well within the lines of the average Americans’ positions,” Sen said. “Now we are estimating that the court falls more squarely in line with the average Republican, not the average American.” Globalist scum media. “The shift has created what Democrats view as a political opportunity — to use the court’s recent rulings, particularly around abortion, to mobilize voters in the fall. The entire Democratic establishment, including the White House and Congress, has united around the strategy, making anger at the court’s ruling one of the few clear pitches that the party is deploying for the midterm elections.” Because voters care more about murdering babies that $6 gas, eh globalists? “The high court’s decision to divert from popular opinion has also fueled calls to change the structure of the court, either by adding more justices or imposing a rotational schedule to regularly change the court’s makeup.” You can’t murder your baby, so now it’s time to tear up the Constitution, is that right globalists? “Former attorney general Eric Holder, an Obama appointee, released a statement Friday calling on reforms to the Supreme Court’s structure “to ensure that the Court serves the interests of the people instead of the interests of an extreme, minority faction.” That’s not how the Constitution works, you globalist sh*tbag. “Another result of the shift has been declining public approval of the court, driven largely by a dive in support from Democrats. A January Pew Research Center poll found that 54 percent of Americans had a favorable approval of the court, down from 70 percent in August of 2020, just before the death of Ginsburg. Favorable approval among Democrats was at 46 percent, down from 67 percent in August of 2020.” Favorable approval is not part of the United States Constitution, globalist scum. https://archive.ph/XmloH President Donald J. Trump was correct when he stated that “the media is the enemy of the American people.” ‘The prolonged slump in Bitcoin is making it more difficult for some miners to repay the up to $4 billion in loans they have backed by their equipment, posing a potential risk to major crypto lenders.’ ‘A growing number of loans are now underwater, according to analysts, as many of the mining rigs lenders accepted as collateral have now halved in value along with the price of the world’s largest digital token.’ ‘Few miners have defaulted on their loans so far, but recent sales are showing signs of distress. Core Scientific Inc. sold more than 2,000 Bitcoin in May to help cover operational costs. Meanwhile, Bitfarms Ltd. offloaded nearly half of its mined tokens earlier this month to pay down part of its $100 million loan with Galaxy Digital Holdings Ltd. It has also taken out another machine-backed loan from New York Digital Investment Group LLC.’ ‘If the market doesn’t improve, analysts warn it could be an ugly scenario. Selling Bitcoin reserves puts further pressure on prices and the cost of equipment could fall even lower if lenders — looking to recoup their losses on defaults — start liquidating machines they repossess. The value of Bitmain’s popular S19 mining rig is down about 47% from a high of roughly $10,000 in November, according to data from Luxor Technologies Corp.’ “Bitcoin miners, broadly speaking, are feeling pain,” said Luka Jankovic, head of lending at Galaxy Digital. “A lot of operations have become net IRR negative at these levels. Machine values have plummeted and are still in price discovery mode, which is compounded by volatile energy prices and limited supply for rack space.” https://finance.yahoo.com/news/almost-4-billion-bitcoin-miner-120000229.html This is the biggest waste of electricity since the power of electricity was harnessed in the 19th century. Bitcoin is worthless. Sounds like those who loaned vast sums of money to finance the cryptocurrency bubble are HODLing out hope of being repaid. This means there is no capitulation yet in the cryptocurrency space, an excess of residual irrational exuberance, and further downside risk in store. The Guardian is globalist scum media. The Guardian — The US supreme court has become an illegitimate institution (6/25/2022): “As of 24 June 2022, the US supreme court should officially be understood as an illegitimate institution – a tool of minority rule over the majority, and as part of a far-right ideological and authoritarian takeover that must be snuffed out if we want American democracy to survive.” Globalist scum media. “it’s also devastating for those of us who care quite a bit about American democratic traditions and the strength of our institutions. Because, with this ruling, the supreme court has just signaled its illegitimacy” Globalist scum media. “The same week that the supreme court issued its decision in Dobbs, the US House of Representatives has been holding hearings to inform the public about what actually happened during the attempted coup of 6 January 2021, and to ideally hold perpetrators, traitors and seditionists to account.” The 2020 election was stolen. And there were multiple insurrections LAST NIGHT. “We are only a year and a half past that disgraceful day, when an angry mob decided that they, an authoritarian, patriarchal, white supremacist minority, should rule – that any other outcome, no matter how free and fair the election, was illegitimate.” Trump won 2020. Suck it up buttercup. “The supreme court decision stems from that same rotted root: the idea that a patriarchal minority should have nearly unlimited authority over the majority. The conservatives on the court rightly understand that individual rights and women’s freedoms are incompatible with a system of broad male control over women and children, and a broader male monopoly on the public, political and economic spheres.” You can only SEETHE. “And so Democrats now have a choice. They can give speeches and send fundraising emails. Or they can act: declare this court illegitimate. Demand its expansion. Abolish the filibuster. Treat this like the emergency it is, and make America a representative democracy.” Elections have consequences, snowflake. https://www.theguardian.com/commentisfree/2022/jun/25/us-supreme-court-illegitimate-institution Image file for all the “my body my choice” hypocrites: https://ibb.co/S6Wy697 PIMCO-backed FGMC lays off most staffers HousingWire|15 hours ago Non-QM mortgage lender First Guaranty Mortgage Corporation cut about 80% of its workforce on Friday and has stopped accepting new mortgage applications, HousingWire has learned. This is a George Soros funded insurrection. Rep. Lauren Boebert (6/2/2022): “@CapitolPolice why are there 20 pallets of bricks one block from the House Office Buildings?” https://twitter.com/RepBoebert/status/1540486821330620416 “They’re not sending their best” “@CapitolPolice why are there 20 pallets of bricks one block from the House Office Buildings?” Undoubtedly paid for by $ from Biden’s more than $1 trillion infrastructure plan. This has gotta be awkward for Norway’s globalist Quisling regime. ‘Iranian-Norwegian’ terrorist kills two in attack on gay bar: Moment suspect is arrested after storming club in Oslo and opening fire leaving two dead and 21 injured as Pride events are cancelled over fears of follow up attacks https://www.dailymail.co.uk/news/article-10952167/Moment-gay-bar-terror-suspect-pinned-floor-storming-club-Oslo-killing-two.html crushing.housing.losses. Ashland, OR Housing Prices Crater 23% YOY As Mortgage And Appraisal Fraud Hobbles US Housing Market https://www.movoto.com/ashland-or/market-trends/ Comments are closed.