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Park City, UT

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  1. From this 10 minute video:

    Park City, UT Housing Market Report – 6/27

    Jun 27, 2022 The Utah real estate market continues to show signs of consistency. It’s not heading towards the peak, which is clearly behind us. We are now at a point where there’s more inventory hitting, fewer closings, and more negotiability. This is all good, and that’s why I’m optimistic!

    At 8:15 says the person who bought her NYC airbox can’t get their money out of it.

  2. Almost one-in-10 Australian homes were ‘vacant’ on Census night

    ‘Dr Allen said: “We generally have high rates of vacant homes census to census but this is the highest we’ve seen. Home ownership is declining. This gives us a full grasp of the situation, particularly from a generational side of things.”

  3. The housing market slowdown is showing up in shipping data from China

    “We are seeing the impact and slowdown across home appliances, white goods (items like dishwashers), and DIY products,” said Akhil Nair, senior vice president of products for Asia Pacific at Seko Logistics. “We have seen a major slowdown in furniture and home decoration especially in China and Vietnam because importers are heavy in stock.”

    “We have seen an immediate cut back in home building construction materials such as lumber,” said Spencer Shute, senior consultant of supply chain and procurement company Proxima. “This should come as no surprise given the new home sales and construction numbers.”

    1. This isn’t my experience and it doesn’t seem logical. I’m aware of several houses being built and lots of stuff is unavailable due to supply chain issues, not due to demand dropping off. I’m seeing second-hand appliances costing more than new appliances because new appliances can be unavailable and the second hand appliance can be picked up immediately.
      Also, one can pick out an appliance and be told “I’ll arrive on date x” and one orders it. As date x approaches, the dealer calls and says “hey, doesn’t look like I’m gonna get that appliance. Want to pick out a new one?”
      If stock is heavy, it’s heavy somewhere floating out in some cargo container that’s waiting to be unloaded.
      Saying supply is down due to demand feels like cart before the horse.

  4. ‘Mr. Ramage broke that dilemma down into simple terms. “$250,000 (for a home purchase) at 3% is about $1,230-$1,235 (per month). 4 ½% is $1,400 a month, and 6% is $1,600 a month,” he explained by using a rough estimate payment scale calculating the not-so-old interest rate versus today’s rate, which is hovering right around 6 percent.’

    ‘Ramage said those price differences are not insignificant, so he tells his clients that he understands if they want to postpone their search for a while. But he does caution that the rate could get worse before it gets better. Buchanan also tells his clients that buying is the best investment as long as they can manage the payments until a refinance window opens.’

    “I know it’s not the rate you like, but the rates will come back down at some point in time, and you can refinance in 1 or 2 years,” Buchanan said.’

  5. Some articles for our German friend. It’s almost like there is a pattern here… what could that pattern be?

    In Germany, it is illegal to discuss that. Fortunately, here in the United States speech is protected by the First Amendment of the Constitution, a protection that a German citizen will never know.

    Look at what Angela Merkel and all the other globalists did to your country, if you can even open this links in Germany:

    “They’re not sending their best”

    1. @
      ‘Some articles for our German friend. It’s almost like there is a pattern here… what could that pattern be?’

      Picking the utmost hateful propaganda?

      In Germany, it IS’NT illegal to discuss that.
      as Germany together with all the other Europeans Countries is working on ‘The Digital Services Act, one half of an overhaul for the 27-nation bloc’s digital rulebook, helping to cement Europe’s reputation as the global leader in efforts to rein in the power of social media companies and other digital platforms’.

      1. ‘Someones a little touchy? Say Guten Tag to Klaus!’

        but ‘Guten Tag’ might be bit ‘formal’ – especially in these… circumstance – so you might say: Hi! –
        to Klaus –
        wherever he is right now…

      2. Touchy LOL. Merkel was one of Daddy Klaus’ “young leaders” except she was already in her 40s when she was recruited into the WEF.

        Germany has a rape problem, and the rapists are from North Africa and the Middle East, and they are Muslim.

        LOL@ expecting people stuck in a seventh century ideology to be able to assimilate into the modern world.

        “They’re not sending their best”

        1. ‘Germany has a rape problem’,

          rape rate 9.4 Ranked 24th.

          27.3 Ranked 9th. 3 times more than Germany

  6. ‘Bitcoin miners have been forced to tap into their cryptocurrency stashes as a plunge in prices, rising energy costs and increased competition bite into profitability.’

    ‘The number of coins miners are sending to crypto exchanges has been steadily climbing since June 7, researchers at MacroHive noted, in a sign that “miners have been increasingly liquidating their coins on exchanges.”

    ‘Several publicly listed bitcoin miners collectively sold more than 100 per cent of their entire output in May as the value of bitcoin tumbled 45 per cent, an analysis by Arcane Research found.’

    “The plummeting profitability of mining forced these miners to increase their selling rate to more than 100 per cent of their output in May. The conditions have worsened in June, meaning they are likely selling even more,” Arcane analyst Jaran Mellerud said.’

    ‘Bitcoin miners, who run networks of computers to earn tokens by validating transactions on the blockchain, are typically staunch crypto “HODLers” and collectively own around 800,000 bitcoins, according to CoinMetrics data.’

    ‘Bitfarms, Riot Blockchain and Core Scientific are among companies that announced sales, with Bitfarms’ chief executive saying the company is “no longer HODLing daily bitcoin production.”

  7. Why tech layoffs, freezes are rising

    ‘The tech sector’s aggressive hiring the past few years played a part in this wave of layoffs, said Wedbush analyst Daniel Ives. “So much growth was pulled forward for tech during the pandemic,” Ives said. “I think there’s a normalization going on of spending, and that’s exacerbated the potential slowdown for the tech sector.”

    ‘Angelo Zino, an analyst with research firm CFRA, said it was only a matter of time before hiring sprees cooled off. Fears of an economic downturn helped speed up that process. “You’ve kind of seen more of an accelerated effort of more companies just take the foot off the gas much quicker in recent weeks,” Zino said.’

    1. Because none of those “tech” companies make any money it’s all a charade and now money isn’t “free” anymore.

  8. Related article on this side of the Atlantic.

    At Least 42 People Found Dead Inside Trailer Of 18-Wheeler, 16 Hospitalized…Possible Human Smuggling Case (6/27/2022):

    “At least 42 people were found dead inside an 18-wheeler on the Southwest side of San Antonio, TX. According to multiple San Antonio Police Department sources, 16 others were taken to area hospitals, and the death toll could rise.

    Leigh Waldman of KSAT reports a possible human smuggling operation may be part of the investigation.”

    The cartels do this because they only care about making money and they don’t care if people die.

    Globalists / Democrat Party allow this because Replacement Theory is not a theory.

    Top voted reader comment on the article:

    “More blood on the hands of Soros and the Kenyan.”

    Sounds about right.

  9. Revolver News — Is pro-abortion terror group “Jane’s Revenge” entirely a creation of the FBI? (6/27/2022):

    A creation of? Maybe. Infiltrated by? Absolutely.

    Just like the Fedsurrection in Idaho a few weeks ago.

    And just like the biggest Fedsurrection ever: January 6th.

    Epoch Times — Far-Left Groups Use Map Created by University Professors to Target Pregnancy Centers (6/26/2022):

    “Radical pro-abortion activists are reportedly using an interactive map developed by two University of Georgia professors to plan their violent attacks on pregnancy resource centers.

    These centers, which typically offer pregnancy tests and counseling services from a pro-life perspective, have been vandalized, smashed, and set on fire in growing numbers across the country in the weeks leading up to the U.S. Supreme Court’s overturning of Roe v. Wade.

    While these centers’ locations are public knowledge, perpetrators have been using online tools that collect and organize this information in a way that makes it easier for them to find the next target.”

  10. If you want misinformation, go read the New York Times and Washington Post.

    Russia Today — Joe Biden’s money used to pay for prostitutes (6/27/2022):

    “Data found on Hunter Biden’s laptop reveal that the US president’s son spent over $30,000 on escorts from a “model agency” with offices in Kiev and Moscow, the Washington Examiner reported on Monday.”

    Kiev? Where’s Kiev? Oh, right, it’s in Ukrainistan.

    “According to the report, Hunter Biden racked up the five-figure bill in a five-month period from November 2018 to March 2019, when his father was preparing to run for president. During that time Joe Biden wired his son a total of $100,000, though it is unclear whether he knew what his son was spending the money on.”

    Remember when Twitter blocked the New York Post a few weeks before the 2020 election?

    The stolen election? Remember that one?

    “At the time of his dalliances with the prostitutes, Hunter Biden was sitting on the board of Burisma, a Ukrainian energy firm that paid him up to $50,000 per month, despite his lack of experience in the industry.”

    Turn down the thermostat, Zelensky needs $7 billion a month.

    “According to emails and text messages obtained from his laptop, which he left in a Delaware computer repair shop at some point before October 2020, Hunter peddled access to his father with clients in Ukraine and China. During his father’s vice presidency, Hunter struck deals where the Biden family stood to make tens of millions of dollars “based on introductions alone,” and others involving kickbacks to “the big guy” – an apparent reference to Joe Biden.”

    Russia Today reports what the globalist scum media won’t.

    “When the contents of the laptop were first reported on by the New York Post weeks before the 2020 presidential election, the Biden campaign initially wrote off the reports as part of a “disinformation” campaign, potentially involving Russia. However, the computer’s authenticity has subsequently been independently verified, and the New York Times and Washington Post now admit that the younger Biden’s emails are genuine.”

    Globalist scum media.

    1. and about:
      ‘Russia Today reports what the globalist scum media won’t’.

      No –
      Russia Today just reports Russian Propaganda –
      (as it’s duty)
      And trying to joke about it:
      That wasn’t all ‘that bad’ – but since Russia Today mainly report the propaganda of an Ex KGB Agent who turned into the Worst Current War Criminal – it’s –

      ALL BAD!

      And that such truly BAD propaganda is even on an American Blog about Housing Bubbles is probably the major difference of this bust to the bust in 2008?

      What happened?

        1. ‘Klaus Happened’ and we just happened to notice.
          Eet Zee Bugz!

          And I asked at the other thread if we should recute our interviews with the commenters of this blog and juxtapose the sober and wise words from 2010 with the silly jokes of a self described ‘Deplorable’ of 2022 –
          ‘Klaus Happened’ and we just happened to notice’.
          ‘Eet Zee Bugz!’
          HAS to be included –
          don’t you think?

        1. It was always Pravda. It’s just now out in the open. It isn’t getting worse, it’s just getting more obvious.

        2. ‘American media is now Pravda is what happened’.

          But Putin Propaganda isn’t ‘Pravda’ – as ‘Pravda’ was kind of harmless in comparison.

    2. Let he who has never given his children money for drugs and prostitutes cast the first stone.

  11. The Associated Press is globalist scum media.

    More Than 1 Million Voters Switch To GOP In Warning For Dems (6/27/2022):

    “A political shift is beginning to take hold across the U.S. as tens of thousands of suburban swing voters who helped fuel the Democratic Party’s gains in recent years are becoming Republicans.”

    Time to release a new CCP Flu variant from the lab, because Democrat Party has an election to steal!

    “More than 1 million voters across 43 states have switched to the Republican Party over the last year, according to voter registration data analyzed by The Associated Press. The previously unreported number reflects a phenomenon that is playing out in virtually every region of the country — Democratic and Republican states along with cities and small towns — in the period since President Joe Biden replaced former President Donald Trump.

    But nowhere is the shift more pronounced — and dangerous for Democrats — than in the suburbs, where well-educated swing voters who turned against Trump’s Republican Party in recent years appear to be swinging back.

    Roughly four months before Election Day, Democrats have no clear strategy to address Biden’s weak popularity and voters’ overwhelming fear that the country is headed in the wrong direction with their party in charge.”

    “They’re not sending their best”

    1. And those are just the ones who officially switched. Who knows how many millions of unaffiliated/independent voters are sick of seeing their paychecks ravaged by inflation?

  12. One of the most prominent crypto hedge funds just defaulted on a $670 million loan

    3AC’s solvency crunch comes after weeks of turmoil in the crypto market, which has erased hundreds of billions of dollars in value.

    ‘Three Arrows Capital was established in 2012 by Zhu Su and Kyle Davies. Zhu is known for his incredibly bullish view of bitcoin. He said last year the world’s largest cryptocurrency could be worth $2.5 million per coin. But in May this year, as the crypto market began its meltdown, Zhu said on Twitter that his “supercycle price thesis was regrettably wrong.”

  13. Another smear piece in follow up to The Guardian’s smear piece, just in time for today’s primary election.

    “Colorado has a Democratic governor (Jared Polis) and two Democratic U.S. senators (John Hickenlooper and Michael Bennet), and Democrats have majorities in both the Colorado State Senate and the Colorado House of Representatives.”

    That almost sounds like a vote like California, become California kind of thing.

    5,000% increase in catalytic converter thefts?

    Democrat Party.

    #1 in the country for vehicle theft?

    Democrat Party.

    Decriminalization of fentanyl?

    Democrat Party.

    “Boebert, a far-right MAGA extremist, conspiracy theorist and QAnon supporter along the lines of Rep. Marjorie Taylor Greene of Georgia and Rep. Paul Gosar or Arizona, has been a consistent source of embarrassment to Colorado — and journalist Nick Bowlin, in an article published by The Guardian on June 27, describes efforts by both Democrats and non-MAGA Republicans to get her voted out of the U.S. House of Representatives in the 2022 midterms.”

    Globalists gonna globe.

    “Boebert’s extreme right-wing stances range from absolute opposition to gun control to questioning the effectiveness of vaccines and the outcome of the 2020 presidential elections. All are conveyed by a social media persona fine-tuned to inflame the culture wars…. Along with Marjorie Taylor Greene, Josh Hawley, J.D. Vance and others, she is among a vanguard of younger, stridently conservative politicians following former President Donald Trump’s path to prominence.”

    The only good thing about Denver is that people in Denver can’t vote against her because they are not in her district. They can only seethe, and upvote each other’s sad Reddit posts 🙁

  14. The Washington Post is globalist scum media.

    Jan. 6 committee announces surprise Tuesday hearing, offers few details:

    “The announcement was shrouded in secrecy, with even committee staff kept out of the loop.”

    What a joke. Do these globalists think anyone even cares?

    “The House committee investigating the Jan. 6, 2021, attack on the U.S. Capitol said Monday it will hold a surprise hearing on Tuesday to “present recently obtained evidence and receive witness testimony.”

    Ooh, a surprise! The 2020 election was stolen, sh*tbags.

    “It was not immediately clear whom the committee plans to interview and what topics lawmakers intend to focus on. The decision announced on Monday was shrouded in secrecy, with staff and committee members explicitly asked to go dark and not speak with media, according to two people involved with the investigation.”

    January 6th was a Fedsurrection.

    “The news was so closely guarded that even some senior committee staff and aides to lawmakers were kept out of the loop as of Monday afternoon. Three people familiar with the investigation said that the secrecy is in part due to credible security threats to a witness.”

    A witness? A witness to a Fedsurrection.

    The Washington Post is globalist scum media.

    And President Donald J. Trump was correct when he stated that “the media is the enemy of the American people.”

    1. ‘What a joke. Do these globalists think anyone even cares’?

      Well –
      everybody over here in Europe is really worried about our American friends…

      1. Well EU frens you should be worried about being a vassal state of the US and it’s super great globalist depopulation, war, lies and endeavors in chaos.

  15. The New York Times reluctantly reports about crime.

    Amid Attacks and Thefts, Some Retail Workers Want to Fight Back (6/28/2022):

    “During the early months of the pandemic, stores became tinderboxes for a society frazzled by lockdowns, protests and mask mandates. Many workers say that tension persists, even as pandemic tensions recede, and that they need more protections.

    “Violence in and around retail settings is definitely increasing, and it is a concern,” said Jason Straczewski, a vice president of government relations and political affairs at the National Retail Federation.

    Tracking retail theft is more difficult because many prosecutors and retailers rarely press charges. Still, some politicians have seized on viral videos of brazen shoplifting to portray left-leaning city leaders as soft on crime.”

    Portray? Seriously, that’s the vocabulary you’re gonna go with? George Soros has all the receipts.

    “These crimes deserve to be taken seriously, but they are also being weaponized ahead of the midterm elections,” said Jonathan Simon, a professor of criminal justice at the University of California, Berkeley, Law School.”

    Cross the Bay, Jonathan. Suck in a lung full of poo smells and remember what just happened to Chesa Boudin.

    “These criminals feel like they own the store,” said Tony Settles, a clerk at a Safeway in downtown Denver. “The No. 1 thing that can fix this is accountability.”

    Vote like California, become California?

    “They’re not sending their best”

  16. ‘UHaul says its Colorado teams are seeing a stream of one-way outbound moves this year

    Allied Van Lines says its gap between in & outbound moves for the state is narrowing

    And the Colorado business of United Van Lines has changed direction this year

    ‘United Van Lines Vice President for Corporate Communications said, “In 2022 so far we have seen Colorado shift from an inbound state to more of an outbound move state. It’s jumped up to 18th on our list, whereas in years past we’ve seen it more of an inbound move state.”

    1. Little late, they kinda missed the bubble. Also, was it the riots? the taxes? the idiocy? the car thefts? the total control by the dems? the lockdowns and endless mask rules? c’mon, what was it that FINALLY opened your eyes to Eastern California (formerly known as Colorado)

      1. Cost of living. The Rent is Too Darn High. I know more than a few lefties who are leaving because for them it’s either eat or pay the rent.

    2. I would call this good news, but the people who are leaving are taking their Republican votes with them when they leave.

      The left behinds, the Vote Blue No Matter Who (i.e. /r/Denver on Reddit and all the other Twitter Blue Checkmarks) will only double down on their failed ideology, because Orange Man Bad.

      1. I just spent some time in Western Colorado. Saw lots of Lauren Boebert Freedom and Trump signs. One guy I fished with talked about how absurd it is when he travels to Denver and how many folks wear masks alone in cars.

        Nice country. Nice people. Sad to think about the state’s future.

  17. Santa Clara, CA Housing Prices Crater 24% YOY As Bay Area Seethes In A Pot Of Mortgage Defaults, Soaring Inventory And Plunging Rental Rates

    As one Bay area broker explained, “Our internal forecast is falling prices to a level not seen since the 1990’s.”

  18. Plano mortgage lender lays off 428 employees, citing ‘adverse market conditions’
    Dallas Morning News|11 hours ago
    The notice said the layoffs were caused by “significant operating losses and cash flow challenges due to unforeseen ..

  19. ‘A growing number of Canada’s emerging technology giants are scaling back hiring in the face of worsening economic news as the sector shifts rapidly from a grow-at-all-costs mentality to relative austerity.’

    ‘The chief executive officers of Hootsuite Inc., Trulioo Information Services, Canada Drives Ltd., Copperleaf Technologies Inc., Vendasta Technologies Inc., and Clutch Canada Inc. – Canadian companies with tens or hundreds of millions of dollars in revenue and hundreds of employees or more – have told The Globe and Mail in the past week they have cut back hiring plans this year. Other Canadian tech companies reduced staff this month, including Wealthsimple Technologies Inc., Ritual Technologies Inc. and BBTV Holdings Inc.’

    “Every company is rethinking their growth plans; we’re doing the same,” said Dan Park, CEO of Clutch, an online marketplace operator for used car sales based in Toronto, which has halved plans to hire 50 to 60 people in 2022.’

    ‘Canada Drives on Monday said it had raised $40-million from subprime lender goEasy Ltd., and Mr. Green said he hoped to raise at least $10-million more from others. “Last fall, we expected we’d be able to raise over $100-million” in 2022 for a second straight year, “but as the market changed, so did our expectations and needs with our growth plans,” he said.’

    ‘Vendasta CEO Brendan King said the Saskatoon vendor of digital tools to companies that serve small businesses is also taking “a bit of a breather on hiring,” even though rising interest rates and inflation haven’t yet hurt his business. “Before it was ‘grow grow grow.’ Now it’s ‘grow EBITDA margins,’” he said, meaning the 700-person company is looking to improve earnings before interest, taxes, depreciation and amortization. “If they’re not quota-carrying sales reps or developers” who build critical products, “we’re probably not going to hire them.”

    1. The chief executive officers of Hootsuite Inc., Trulioo Information Services, Canada Drives Ltd., Copperleaf Technologies Inc., Vendasta Technologies Inc., and Clutch Canada Inc

      Never heard of any of them.

      Meanwhile, firms that make stuff customers need and use are doing fine.

  20. Evergrande crisis: embattled developer could face liquidation as creditor files winding-up petition in Hong Kong

    “Similar to the Fantasia case, the petition appears to be a means to apply pressure to the company,” said Leonard Law, a credit analyst at Lucror Analytics. “As Evergrande is due to unveil its debt restructuring proposal next month, the petition may be more symbolic than substantive.”

    ‘Fantasia Holdings Group, the developer founded by the niece of a former Chinese vice-president, received a winding-up petition from creditors for failing to repay an outstanding loan of US$149 million on May 26.’

    “As many private developers have now defaulted and are going through debt restructuring, we may see more liquidation petitions in future,” Law added.’

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