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They’re Sitting On The Market For A Few Weeks To A Few Months And People Are Not Touching It

A report from the Phoenix Business Journal in Arizona. “As the Valley’s housing market continues to cool, home sellers are cutting list prices while various incentives are emerging — signs that the housing market is finally on its way to becoming more balanced. The percentage of homes on the market that needed price reductions before they sold climbed 23% in metro Phoenix last week, said Greg Hague, CEO of Scottsdale-based 72Sold. Nationally, that percentage of homes climbed to 27.2%. ‘When it reaches 30%, that is a sign that we are in a balanced market, with buyers and sellers having equal negotiating strength,’ he said. ‘I predict that will happen in August.'”

“Another big sign of the market coming back into balance is looking at the contract ratio, which is the number of homes sold and waiting to close compared with the number of homes listed for sale at any given point. It is measured per 100 homes for sale. In mid-April the contract ratio was 250, which means for every 100 homes for sale, there were 250 homes sold waiting to close. ‘As of last week, it had dropped to an astounding low 62,’ Hague said. ‘In other words, for every 62 homes sold waiting to close, there were 100 homes for sale. Predictions are it will drop into the mid 50s this week.'”

The Las Vegas Business Press in Nevada. “It didn’t take long after the latest mortgage interest rate hike for every real estate guru and pundit across the nation to put their Chicken Little hat on and begin forecasting the onslaught of a gloomy real estate market. We can pick up almost any newspaper and read about sellers slashing prices as if to infer panic selling and rapidly declining market prices.”

“We are not really seeing anything like this in Las Vegas or Southern California. Yes, there was a modest uptick in the number of price reductions in Las Vegas this month, but this market has supported massive overpricing for several years. The average amount of overpricing for a single-family residential listing remains around $65,000 for properties listed below $1 million. Thus a $20,000 or $30,000 price reduction may still be above market value for at least 25 percent of those properties.”

The Colorado Sun. “On June 27, the average list price for a house for sale in Denver was $742,773. Three days later it dropped 2.9% to $721,517, according to Opendoor. Meanwhile, during the same three days, the median closing price fell $26,000, or 4%, to $619,000. Zillow data for the Colorado Springs, Denver and Fort Collins markets do show that there’s been a sharp increase in the number of houses that cut the list price within the past month. The chart below shows that in early June, 9.17% of the homes for sale in Denver dropped their price in the past month, while 9.1% did in Colorado Springs and 3.37% did in Fort Collins.”

“Those price discounts in Denver rose to a median of $19,000 in early June, nearly double the amount in January. Colorado Springs price cuts weren’t as sharp and had dropped to $11,050 in early June, while Fort Collins hit $19,201.”

The Santa Fe New Mexican. “The real estate world is hinting boom times are ending and home prices could be softening. But that’s what the experts thought at the beginning of the pandemic, and look what happened. No matter how you view it, conventional wisdom meets its match in Santa Fe and Santa Fe County, where home sales dropped in the second quarter of 2022 to their lowest level since 2011 — but the median home price for the same time period rose to (take a deep breath) $789,385.”

“The second quarter report could already be ancient history. ‘My observation now is buyers are slowing down their purchasing process,’ said David Barker, qualifying broker and owner of Barker Realty. . ‘There is a little nervousness. We’re seeing properties now coming on the market that six months ago or a year ago were selling very quickly. They are not selling as quickly now. There are still portions of the market, if your property is the right price, you will get multiple offers and strong sales — but that portion of the market is decreasing rapidly.'”

From CNBC on New York. “Sales contracts for Manhattan apartments plunged by nearly a third in June as the city’s scorching real-estate market started to cool amid recession fears and declining stocks. ‘Throughout the second quarter, that slowdown has accelerated: fewer signed contracts, fewer bidding wars, more price reductions, and a gradual increase in available inventory,’ Coldwell Banker President Frederick Warburg Peters wrote. ‘The gradually slowing sales market manifests in all boroughs and at all price points throughout the city.'”

“‘This is a market in transition,’ said Bess Freedman, CEO of Brown Harris Stevens. ‘Buyers are in the driver’s seat right now. There is just a lot of uncertainty and weaker confidence.'”

From Candy’s Dirt in Texas. “It does appear that in the past 30 days many areas are seeing a few less outrageous over-asking price offers. Realtor Greg Potts of Compass in Fort Worth recently informed CandysDirt.com that he has had an uptick in making offers and receiving offers on his listings. ‘There are definitely a lot more options for buyers,’ Potts said. ‘I have been involved in more negotiations over the past two weeks than in the past two years.'”

From USA Today on Mississippi. “A typical Hinds County home listed for $144,500 in June, down 3.3% from the previous month’s $149,500. The median list home price in June was down about 18.8% from June 2021. Rankin County’s home prices fell 5.8%, to a median $357,950, from a month earlier. Madison County’s home prices fell 12.4%, to a median $547,500, from a month earlier.”

From Bisnow San Francisco on California. “A Transwestern report on the performance of San Francisco’s office market in the second quarter paints a sobering picture more than two years into the remote work experiment that the city’s all-important tech companies have embraced. Negative net absorption in particular is troubling, dropping to 762K SF in the second quarter of 2022. That is a 118.4% increase from the 350K SF of negative net absorption recorded in the same period in 2021.”

“George Entis, senior research manager for Transwestern, speculated that the flight-to-quality trend for office space will continue to push demand for any space below Class-A into nonexistence. ‘Class-C is becoming useless,’ he said.”

The Canadian Press. “Last month’s Greater Vancouver area home sales dropped by about 35 per cent since last June and 16 per cent from May 2022. Such behaviour indicates the market is shifting in favour of buyers, said Tirajeh Mazaheri, a Coldwell Banker Prestige Realty agent in Vancouver. Gone are the days when properties would be sold in days — or sometimes hours — and garner multiple offers. ‘Now, they’re sitting on the market for a few weeks to a few months and people are not touching it,’ Mazaheri said. ‘It’s a very big, drastic change.'”

The Vancouver Sun. “Median prices have been dropping consistently and considerably since the Bank of Canada started hiking interest rates earlier this year, said Hao Li, a Vancouver-based broker with HouseSigma. In February, the median price for all housing types in all of Metro Vancouver was $1.028 million, but fell by 13.5 per cent to $889,000 in June, according to HouseSigma analysis.In some areas, the change in median prices was greater, falling by 28 per cent in Delta (to $1.165 million from $1.625 million), by 23 per cent in Surrey (to $843,000 from $1.1 million), and by 23 per cent in Maple Ridge (to $960,000 from $1.25 million), according to HouseSigma.”

“‘This is a very real shift in the market,’ said One Flat Fee agent Mayur Arora who has clients in Metro Vancouver and the Fraser Valley.”

From Bloomberg. “London’s property market is in flux with house prices continuing to rise and apartments declining in value. Apartments are down more than 11% from their peak in August 2020, with the median sale now less than 400,000 pounds, according to an analysis of UK Land Registry data for April by Bloomberg News.”

Daily Mail Australia. “The derelict inner city terrace that was the subject of a row over squatter’s rights has been sold for a big loss after the owner abandoned renovation plans. The ‘unliveable’ two-bedroom house, at 544 Elizabeth Street, Redfern, sold for $1.025million on Saturday, $85,000 less than the vendor bought it for in 2017.”

The Australian Financial Review. “In what should come as no surprise to regular readers of this column, Australian house prices declined for the second month in a row in June – and the pace of losses is accelerating sharply. There is also clear evidence that what is destined to become the largest draw-down in Aussie housing market history is gradually extending to Brisbane, where home values look to be rolling over, and Perth, where prices are moving sideways again.”

“Pity the poor home buyers who went out and borrowed vast sums based on the RBA’s guidance that they would not lift interest rates until 2024 at the earliest.”

The Times of India. “It is rightly said that history repeats itself. This time, glimpses of it can be witnessed in China, where the deep recession in the property market has compelled real estate companies to float a bizarre marketing strategy to lure home buyers. As per reports, they are following the ‘Barter system of exchange’, in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.”

“In China, real estate developers have started accepting payments for homes in watermelons and other agricultural produce. As per Global Times, a developer said that it would allow home buyers to pay for their homes using watermelon at a rate of 20 yuan per kilogram. A poster for the promotional event starting from June 28 to July 15, reads the property developer would allow home buyers to make a maximum payment of 5,000 kilograms of watermelon, valued at 100,000 yuan, noting the purpose of the promotion is to support local watermelon farmers.”

“Well, as per experts, the situation is alarming and as per New York Times, the housing market in China is now seen as ‘a national threat’.”

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This Post Has 176 Comments

  1. From the 11 minute video above:

    It Has Begun… | Las Vegas Real Estate (July Update)

    Jul 4, 2022 I’ve been warning you and NOW we have the numbers… The Housing Market Decline Has Already Begun. Watch now to find out how and why the market is heading towards decline!

  2. ‘Yes, there was a modest uptick in the number of price reductions in Las Vegas this month, but this market has supported massive overpricing for several years. The average amount of overpricing for a single-family residential listing remains around $65,000 for properties listed below $1 million. Thus a $20,000 or $30,000 price reduction may still be above market value for at least 25 percent of those properties’

    Yer a doom and gloomer. I gotta hit the road. Posting etc will be slowed til I get back.

    1. ‘falling by 28 per cent in Delta (to $1.165 million from $1.625 million), by 23 per cent in Surrey (to $843,000 from $1.1 million), and by 23 per cent in Maple Ridge (to $960,000 from $1.25 million)’

      Is that a lot? Note that we’ve known this for some time due to these videos.

  3. ‘When it reaches 30%, that is a sign that we are in a balanced market, with buyers and sellers having equal negotiating strength,’ he said. ‘I predict that will happen in August.’”

    Not being an REIC shill, I’ll hazard another prediction: by August the underwater FBs will be in a full-blown panicky stampede for the exits, while buyers will be as rare as work boots at a Hillary Clinton rally.

  4. Yes, there was a modest uptick in the number of price reductions in Las Vegas this month, but this market has supported massive overpricing for several years.

    Until it doesn’t. Whistling past the graveyard isn’t going to head off what’s coming, REIC shills.

  5. When you buy a house in Denver you are buying needles and feces and tents. That’s what your property taxes in Denver are paying for. Meth and fentanyl are legal, and there are zero consequences for property crimes in Denver.

    1. “Meth and fentanyl are legal, and there are zero consequences for property crimes in Denver.”

      I like it. Low-life pukes need to live some place and I am happy Denver decided to become that place.

      Better there (where I am not) than here (where I am).

      1. For some reason I had thought you were in Clownifornia – the gold standard for such debauchery.

      2. those damn pukes! how dare they breathe my air!? drop & give me 20, Bender or I’m crackin’ SKULLS!!

    2. Feces on the sidewalk and HIV-contaminated needles on playgrounds mean “We have arrived” from a Democrat-Bolshevik urban utopia perspective.

      1. It’s the Biden lifestyle. It’s what “Doctor” Jill wants for everyone. And don’t forget Hunter Bidens MonkeyPox.

  6. “On June 27, the average list price for a house for sale in Denver was $742,773. Three days later it dropped 2.9% to $721,517, according to Opendoor. Meanwhile, during the same three days, the median closing price fell $26,000, or 4%, to $619,000.

    Gosh, but if shack prices are dropping one percent a day, what’s the RE market going to look like 100 days out? That’s a lot of Yellen Bux “equity” flying off to debauched currency heaven.

    1. 3% down in 3 days? With this rate, houses will be free by end of summer.

      That’s the chains I can believe in.

      1. There could well be more houses for sale in the near future than there are people to live in them.

        2. I see “Dr” John Campbell on YT with 2.38M suckers subscribers is catching on to the non-COVID excess deaths. I’m not providing a link because he doesn’t deserve the revenue.

          1. Hello RPRH,
            Have been a yuuge fan of yours for some time, but this comment on John Campbell really hits home. He’s a pretend doctor (of education). His professional credentials are nurse. I have had beef with him this entire time. He toes the MSM line far too much for my taste. Suppose Oxide follows him.
            Thanks for what you have been doing consistently.
            –Geezer

          6. NJGeezer – Are you the one with the grandson recently diagnosed with lymphoma or leukemia? How is he doing? If I have the wrong HBBer, my apologies. Please give us an update.

          7. We’ve had the Campbell argument before. He has never pretended he was a physician. He reports data from studies done by physicians and experts.

            I haven’t subscribed to him, and most of the time I don’t watch the video. I just read the notes, which he puts in the description. And “rot in hell,” really? I’m pretty sure he’s not *that* bad.

    2. “Gosh, but if shack prices are dropping one percent a day, what’s the RE market going to look like 100 days out?”

      A $300,000 shack would be worth $110,918.90. So says MS Excel. Of course prices won’t drop that far. A cash investor would probably ‘snap-up’ the shack around $225K, based on the condition of the house.

      2. They will scoop up the first rounds and then run out of money as more and more come up for sale. All anyone has to do is wait patiently until the pigs are all stuffed, then the real price discovery begins. However, it’s a few years away as this is a process that takes a while. We haven’t even arrived at the real crash yet, this is just the appetizer round. The main course is going to have a number of large financial entities go bust. It is coming as sure as day follows night.

        1. Last one did take a while and did exactly what you described. But this is playing out way faster in my opinion. I’m already shocked out how fast it’s unraveling.

          1. did exactly what you described

            No, it wasn’t allowed to crash and burn last decade.

      3. Of course prices won’t drop that far.

        Oh, they might, just not that quickly. It depends on if foreclosures are sold vs. becoming shadow inventory.

    3. “Gosh, but if shack prices are dropping one percent a day, what’s the RE market going to look like 100 days out? That’s a lot of Yellen Bux “equity” flying off to debauched currency heaven.”

      That’s some mighty fine cratering right there….. mighty fine indeed.

      Rio Linda, CA Housing Prices Crater 20% YOY

      https://www.movoto.com/rio-linda-ca/market-trends/

    1. I thought groceries in the UK were expensive back in 2017. So when does BoJo put 30% of British farmers out of business like his Dutch counterpart is doing? That should help bring prices down, right?

      If civil unrest isn’t the goal, I don’t know what is. Perhaps the goal is to have food riots, so the EuroCops and military can gun down rioters.

  8. B…b…but if mortgage payments are rising by $12K a year at the same time soaring inflation is ravaging paychecks, I fear FBs might come up short when it comes time to pay the mortgage.

    Markets predict mortgage payments could rise by $12,000 a year

    https://www.news.com.au/finance/money/markets-predict-mortgage-payments-could-rise-by-12000-a-year/news-story/33f13de97d1ca1518b9b04dbf3f2835c

    Interest rates are well and truly on the rise – and a graph shows a horror market prediction for homeowners over the next year.

    Homeowners could be paying an extra $12,000 a year in mortgage payments if interest rates rise in line with market expectations.
    Yesterday the Reserve Bank of Australia (RBA) announced a 0.5 percentage point increase to the cash rate, bringing it to 1.35 per cent. In total, interest rates have risen by 1.25 percentage points since May.

    Ahead of the move, the Commonwealth Bank hiked its fixed rate by a whopping 1.40 percentage points, a figure that shocked analysts and revealed the bank expects interest rates to rise substantially.

    1. rising mortgage payments? no prob: throw-in a few pallets of watermelons. call it even.

    2. Markets predict mortgage payments could rise by $12,000 a year

      Oz and Kiwiland are in for a world of hurt.

        1. The honest people will be much better off.

          Sometimes they get sucked into the vortex, via job losses. But yeah, in the long run we are better off if we take our medicine.

      3. Add Japan Europe and America to the list. Collapse will be epic.

        Turd world countries will weather it best as they are used to it.

      4. “…rise by $12,000 a year”

        Sounds like mortgage rankings are due for a huge write-down.

  10. The median list home price in June was down about 18.8% from June 2021. Rankin County’s home prices fell 5.8%, to a median $357,950, from a month earlier. Madison County’s home prices fell 12.4%, to a median $547,500, from a month earlier.”

    It’s a start, greedheads, but I’ve got all the time in the world to wait out the carnage. You don’t.

        1. Thanks! It was a 72HR cold for Hubby. I’m on my third day. It’s nothing that would justify getting repeatedly jabbed with one or more experimental gene therapies.

          4. BA 5?

            When I tested positive a year ago, I don’t recall being told what strain I had. It was probably delta, but I honestly have no idea. Anyway, I’ve had flus that were worse.

          5. Hubby took a 12/4/2021 expired BinaxNOW antigen self-test that I was given in 4/30/2022. It was positive. Presumably, it’s BA.5. There’s no reason for a PCR test or sequencing.

    1. This Daily Mail article claims that Crimo is a Trump aupporter, which is not true:

      “Robert Crimo, the Highland Park shooting suspect, is neither a conservative Trump supporter, nor a left-wing antifa radical, according to a friend who claims to know him. “He was an isolated stoner who lost touch with reality,” Bennett Brizes—a college student who claims he “made music” with Crimo from 2015 to 2018—wrote on Twitter.”

      https://amgreatness.com/2022/07/05/highland-park-shooter-is-neither-maga-nor-antifa-just-crazy-former-friend-says/

    2. am i missing something here….they could have ugh how awful…….rented!

      But in April the mortgage company Newrez filed for pre foreclosure, claiming it was owed $197,939 on the 30-year mortgage. The house is now valued at around $425,000.

    4. “Crimo is a hiphop artist who went by the name Awake the Rapper.”

      He’s an odd duck, IMHO. I’d bet the ladies’ “spidey sense” sets-off the klaxon horn.

    1. “And we got to take this stuff seriously, as seriously as you are – because you have been forced to have to take it seriously,”

      Seriously?

      We’d be better off with the guy who had the chicken police called on him in the Oval Office, at least he was on point and spoke in complete coherent sentences

    2. It’s hard to believe this harridan actually graduated from law school and passed the Bar Exam. Perhaps Willie Brown greased the skids for her?

  15. Oil from U.S. reserves sent overseas as gasoline prices stay high

    By Arathy Somasekhar

    July 5, 2022
    7:50 PM EDT
    Last Updated 14 hours ago

    HOUSTON, July 5 (Reuters) – More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

    The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos. read more

    Donald Trump Jr.
    @DonaldJTrumpJr
    ·
    19h
    Un-freaked-believable. We sent 5,000,000 barrels of oil to Europe from our strategic oil reserves with prices through the roof for Americans.
    At this point it’s hard to assume Democrats are doing anything other than purposefully destroying our country!

    1. You can reach no other conclusion other than deliberate destruction of the US, by the Liberal World Order- One World Order- with the traitor crook in the White House implementing this takeover.

      The founders of US Government did not say that Corporations/Money Changers should rule, that unelected Government agencies should rule, that the UN should rule, that WHO should rule, that Big Pharmacy should rule, that the military rules, that transgenders should rule, that Climate Change theory should rule, or that techno!ogy should rule, etc etc.
      US Citizens were suppose to have Constitutional protections under a elected representatives Republic, with a three chamber check and balance Executive Branch, Congress/ Senate, Judicial Branch.
      It was a slow gradual corruption and infiltration of US government by a small group of private party fat cats , foreign enemies , and psychopaths with a bizarre objective to have a One World Order Dictorship. The elimination of any sovereign states or constitutional protections or freedoms for the individual.
      Surveillance , hacking and trans humanism, turning people into controlled drone slaves , under a One World Order, eating bugs and owning nothing , with forced injections , I seriously doubt was the intent of the Founders of this Constitutional Republic.
      The majority never voted for this insurrection, and that is why they criminally rigged the elections, censored the news,and continue to defraud and brainwash the public to be set up for deprivation, freedoms lost, and possible demise if depopulation is part of the agenda.
      The blow after blow insanity of these methods of mass destruction , that are in operational mode, have to be stopped , and they are willing to commit epic crimes against humanity without batting a eye.

      1. that unelected Government agencies should rule

        FWIW, SCOTUS is working on this.

        1. I hope so much that the high Court is working on this. I have liked some of the recent decisions of that Court.

          I don’t like the decision they made that health care workers had to take the jab.
          Really like the decision on the overreach of the EPA. . I like the conceal carry decision also.

          I have never witnessed High Court Judges have their lives threatened and their privacy invaded
          by protestors like this. Than the open defiance to the rulings by the left.
          But the Drs are being threatened also in every way if they don’t endorse the safe and effective vaccine narrative. Just unbelievable that 17 thousand Drs and Scientists are being censored, deplatformed, and jobs threatened, if they dispute the narrative .

          1. the overreach of the EPA

            That case is arguably the most important of the recent rulings. It sounds like we’ve got 6 justices willing to take down the administrative state in the next session.

        2. FWIW, SCOTUS is working on this.

          The EPA got a nice beating. Unlike the Dutch Ministry of Whatever, they won’t be able to ban cows because they cause warming.

          1. Justice is working way to slow for me. Time is of the essence when you have lives being destroyed, fuel and food deprivation, destruction of food processing plants, and children being injected with poison , fake news , etc etc.
            One World Order is on a pre planned time table to set up the One World Order and Great Reset , and they aren’t backing down .

    2. Biden has the sole power to ban the export of crude oil with the stroke of a pen if he wants to. But if he did, it probably wouldn’t affect gas prices. American oil companies already import and refine lo-qual crude from other parts of the world. But IMO he should definitely be exporting crude form the strategic oil reserve!

      1. exporting crude form the strategic oil reserve

        It’s not for the good of the nation. It’s for grift and kickbacks Ibetcha.

      2. Sorry, I should have said he should “definitely NOT” be exporting crude from the SOR.

        No matter where he exports that crude, it certainly goes against the climate agenda. Why can’t he tell, for example, Sri Lanka, to drive Teslas? Why should the Americans suffer?

  17. “‘This is a very real shift in the market,’ said One Flat Fee agent Mayur Arora who has clients in Metro Vancouver and the Fraser Valley.”

    There most certainly is no shortage of shift.

  19. The Financial Times
    Commodities
    Commodities slump as recession fears stamp out fierce rally
    Raw materials from grains to oil have lost their lustre, with hedge funds betting on further falls
    Workers feed harvested wheat into a thresher on a farm in Egypt
    The steep declines in commodities mark a sharp turnround from fierce rallies earlier in the year
    Emiko Terazono, Neil Hume, Laurence Fletcher and David Sheppard
    52 minutes ago

    Commodities prices are tumbling from historic highs, as investors reverse bullish bets on everything from corn to copper and oil in the latest sign of recession fears gripping financial markets.

    Brent crude dropped below $100 a barrel on Wednesday for the first time since April, leaving it 29 per cent below its recent peak. Other markets have also faced severe falls, with the broad S&P GSCI agricultural prices index down 28 per cent since its all-time high in mid-May and a London Metal Exchange benchmark tracking half a dozen industrial metals losing a third of its value since peaking in March.

    Such steep declines come as major central banks turn the screws on monetary policy, jacking up interest rates in a bid to curb scorching inflation. Investors are fearful that higher borrowing costs will derail the global economy after rapid price growth triggered a cost of living crisis.

    That marks a sharp turnround from fierce rallies in commodities markets earlier in 2022, when raw material prices were pushed higher by a post-pandemic bounceback, lack of investment in new energy and mining assets, and supply constraints exacerbated by Russia’s invasion of Ukraine.

    Hedge funds have been central to the recent price declines across commodities — selling out of long, or positive, positions in certain commodities and often replacing them with bearish wagers.

    Although physical supplies of many raw materials remain tight, “hedge funds are taking their chips off the table, [they] are leading big liquidation flows,” said David Whitcomb, head of research at Peak Trading Research.
    …

  20. OOPS…oopsy
    r/personalfinance…

    I fell for a house, now I regret it and need to back out

    rushed to put down earnest money, and decided to visit the neighborhood again.The rose colored glasses came off.
    I decided to check what houses in that neighborhood had been selling for, and they were like 80-100k below our offer- within the last year.
    I want to call my realtor before the earnest check is cashed. We have the inspection Monday but I hardly slept stressing about it.

    1. These are the types of people who were setting prices for the rest of us the past couple years. Fock ’em all.

          1. It’s best to stay away from a home purchase until hoof stamping debt donkeys are facing foreclosure, underwaterness, and eviction from the overpriced homes they bought.

          2. Tales of woe from Debt Donkeys have zero bearing on anything. Get prices falling fast and deep enough and then it’s time to examine.

      2. It’s funny, If you read the comments, a bunch of clueless people just encouraging the buying:

        -It’s a crazy market out there
        -it’s normal to have 100K appreciation in a year
        -most people waive inspections..
        -you’re lucky to have won bid
        – bla bla bla…

        it’s total lunacy… people are brain washed so bad.

    2. “I want to call my realtor before the earnest check is cashed.”

      Call the bank, numb nuts!

      1. Call the bank, numb nuts!
        Good call. But let’s face it, if he’s buying a house now he “ain’t” that bright to begin with.

  23. Toronto Real Estate Market Update June 2022 Sales Fall, Prices Down $100,000+ since April

    Jul 6, 2022

    Toronto’s real estate market saw substantial prices drops in June, with prices down over $100,000 since April. With buyers sitting out and inventory increasing, the housing market saw sales slump by 41% since this time last year.

    With prices dropping Toronto realtors are reporting a trend where home buyers are waiting out the market slump, hoping for further price reversals before getting into the market. Further, many buyers are still working mortgage preapprovals from a few months ago, before rates rose
    substantially.

    April Toronto Benchmark Home Price – $1,354,000
    May Toronto Benchmark Home Price – $1,261,800
    June Toronto Benchmark Home Price – $1,204,900

    April Toronto Average Home Price – $1,254,436
    May Toronto Average Home Price – $1,212,806
    June Toronto Average Home Price – $1,146,254

    April Toronto Median Home Price – $1,098,000
    May Toronto Median Home Price – $1,050,000
    June Toronto Median Home Price – $985,000

    April SP/LP – 107%
    May SP/LP – 103%
    June SP/LP – 10%

    April Months of Inventory – 0.9
    May Months of Inventory – 1.0
    June Months of Inventory – 1.1

    https://www.youtube.com/watch?v=HmV2l8MT9Ow

    6:24.

    1. The grandma-finally-died house on my block still hasn’t gotten a nibble despite a 10% price cut. Granted, I’m not sure the flipper in the sexi-truk would have gotten even the current price six month ago. I think he’ll have to drop another $25K. But if the does that. he comes dangerously close to only breaking even.

    1. Empty Skulls are exploding all over yt. Riding herd over the Debt Donkey stampede is priceless.🤣

      Did you happen to notice the pretzeling and gyrating by realturds and getting real uncomfortable with a non-realturd posting falling price info? The liars themselves are pimping the soft landing fiction novel and short circuit when presented with the reality.🤣

      1. I was watching a couple of San Diego realtors yesterday (not the skater dudes). Despite one realtor giving an example on his street that wasn’t selling for $1.8M when the comp that sold 2 months ago was $2.1M (roughly -15% drop), they see the market correcting maybe 10%. The same realtor has clients from Seattle, San Francisco and Idaho looking to move to San Diego but are all having problems selling their existing homes. The realtors were also touting a Mission Fed 3.5% 10-yr ARM and the ability to refinance later while delusionally thinking The Fed is actually raising rates enough to fight inflation. You could hear the fear in their voices.

        1. I understand those gyrations….. What I don’t get is the open discussion of fraud. Pick any video on any realturd channel and all of them infer or allude to actions that far exceed ethical boundaries.

    2. No one REALLY wants to live in Sucktown. It is more of a holding pen for people who just needed some time. At it’s heart it is still a cow town. One day soon it will experience an epic flood and that will be the end of it for any rational infestor. If I was appointed dictator, I would move the capital to San Diego and take over the The Baja California peninsula so that California could be whole. Vote IPFreely to MCGA!

      1. If Mexico sold Baja peninsula to U.S. it could be developed and be a boom region and buffer for travelers who will gladly go to work there.

        1. If Mexico sold Baja peninsula to U.S.

          Not gonna happen. They’re still butthurt over losing the southwest.

          2. We could offer them a lot of money.

            Even if you could convince Mexico to sell it (which you can’t). Baja is a waterless wasteland. Cabo is nearly 100% dependent on aquifers that are being quickly depleted. Once they’re dry Cabo will have to be abandoned.

          3. Naw…They are just mad because the gringo’s took the parts that have paved roads-electricity-and clean water and left them the part with dirt roads and stick and mud shacks.

  27. North Idaho Real Estate Market Update- May 2022

    Jul 6, 2022 There has been bit of a shift in the real estate market in Coeur d’ Alene, Idaho region. Now I am not saying that there is a burst in North Idaho real estate market but there is a change that has started.
    -With that change it is even more crucial now to price your home right as a seller. Also to have an agent that gets professional photos on your home. Buyers first see your home online so that is the best first impression.
    -Sellers are not able to overprice their home and get it sold.
    -Buyers now are not as willing to waive inspection contingencies and appraisal contingencies. Buyers are also taking their time on deciding to put an offer in.
    -Buyers are not over bidding unless the home is new on the market and at a really good price.
    -There are more homes in the MLS getting price changes and coming back on the market then we have seen in previous years. ( Just check out the numbers in this video.
    -Homes are only seeing multiple offers if they are priced right, priced in the lower price ranges or just hit the market and a good value.
    -With the recent increase in interest rates buyers are being more picky on the homes that they are purchasing.

    https://www.youtube.com/watch?v=DG289xJi4-c

    2 minutes stats only, by price range.

  28. Another bought and paid for spineless coward gets with the program:

    Joe Rogan says he declined having Donald Trump on podcast: ‘I don’t want to help him’

  29. What does “Doctor” Jill have to say about MonkeyPox? She’s a doctor after all…….. One of my coworkers who actually has a PhD and never refers to himself as a Doctor says she’s no more a Doctor than a PhD meteorologist is a doctor.

  30. I’ve been dealing with this absurd “group think” ever since I’ve been in the housing space.

    Super hot market/Great market: Total Control by Sellers
    A shitty market/ “Cooling”/”Transitioning”/ add any other BS name: characterized as a buyers market.

    The bias in incredible.

  31. Rising interest rates have changed the mentality about the housing market:

    Jul 6, 2022 Robert Kavcic, Senior Economist, BMO Capital Markets, says the full impact of interest rate moves won’t be felt on the housing market until this fall or next spring. We’re in the early stages.

    https://www.youtube.com/watch?v=Tp302-eeI2Q

    6:37.

  32. Article for Jeff.

    Explosion Partially Destroys Georgia Guidestones:

    “Investigators said unknown people detonated an explosive device at around 4 a.m,” reports Fox 5 Atlanta. No one was injured as a result of the incident.

    One of the “wings” of the monument was completely destroyed by the blast, which occurred despite constant monitoring of the site with cameras that feed back to a 911 call center.

    The Georgia Bureau of Investigation responded to the explosion by sending the bomb squad. Drone footage shows that the tourist attraction has suffered extensive damage.

    The Georgia Guidestones were built in 1980 at a cost of $500,000 dollars on behalf of “a small group of loyal Americans” who remain anonymous to this day, but is believed to include philanthropist and population control-enthusiast Ted Turner.

    Turner has repeatedly advocated for a 95 percent population reduction and attends weird confabs with the likes of Bill Gates and George Soros to discuss how globalists could use their wealth to “slow the growth of the world’s population.”

    https://summit.news/2022/07/06/explosion-partially-destroys-georgia-guidestones/

    Globalists gonna globe.

    2. Surprised nobody ever came forward in the past 40 years to say they oversaw the stones creation, transport, etc. That long ago, maybe they are dead now, but why the secrecy? Not buying the CERN connection. Aliens could have blown up the universe too when they found all the subatomic particles in their laboratories and colliders.

  33. Dutch Police Open Fire on 16-Year-Old Farm Boy – Aim Guns on Farmers as Mass Protests Shut Down Globalist Reset Plans:

    “Thousands of Dutch farmers are blockading highways and food distribution centers to protest new Nitrogen rules that will force approx. 30% of Dutch cattle farms out of business, according to government estimates. Police opened fire on a 16-year-old in a tractor yesterday, videos show.

    https://www.thegatewaypundit.com/2022/07/dutch-police-open-fire-16-year-old-farm-boy-mass-protests-shut-globalist-reset-plans/

    Globalists gonna globe.

    1. Dutch Police Open Fire on 16-Year-Old Farm Boy – Aim Guns on Farmers as Mass Protests Shut Down Globalist Reset Plans:

      That didn’t take long. Perhaps if the farmers were not disarmed this wouldn’t have happened.

      1. On a related note: I’ve been seeing a lot of online ads for Viking river cruises. Did you know you have to be jabbed to take one of those cruises? Wouldn’t it be grand if civil unrest broke out while you were cruising some Euro river.

        1. “I’ve been seeing a lot of online ads for Viking river cruises.”

          My wife just commented about their constant printed spam; we’ve never taken a cruise.

  34. Housing.

    When you buy a house, you pay property taxes to the municipality you live in, and you pay for this:

    “The National Education Association’s (NEA) annual conference is underway in Chicago, and the group is calling for a national policy of mandatory masking, mandatory vaccinations, and rejecting the words “mother” and “father.”

    https://www.thegatewaypundit.com/2022/07/woke-national-teachers-union-agenda-includes-mandatory-masks-vaccines-banning-words-mother-father/

    It’s Marxism.

    Your property tax dollars are paying for Marxism.

  35. Evidence of a slowdown and impending trouble? Needed to find a place to rent for 3 weeks in Big Bear this summer. Looked today expecting to find nothing and found there’s plenty of AirBNB’s available between end of July and mid-August. How is that possible? Considering they allow two day rentals there should be nothing in the summer, available for 3 consecutive weeks. Looks like slowing economy, paired with over saturated vacation rentals is going to prove very costly to some!

    1. When you have to rebudget for rising fuel and grocery costs, vacations get cancelled.

    1. They both say “Price history is unavailable.”

      Wa up steaming pile zillow? The second one says Price cut: $245K (7/2). It’s a monstrosity.

        1. Per Boise’s wiki page, they get 3 inches of snow in February. But it will be chilly: average high of 46, average low of 29.

          1. Now do Minneapolis Chicago or Milwaukee in February. 3” of snow in February is one minor snow event.

          2. Minneapolis Chicago or Milwaukee

            These cities aren’t luring California equity locusts.

          3. “Minneapolis Chicago or Milwaukee”

            I’m surprised at the large black population in this region given their long harsh winters. As a California refugee in Washington state I double down on the vitamin D3 intake starting around mid September when the overcast sky develops.

        2. https://www.google.com/search?q=boise+in+February&sxsrf=ALiCzsabgCPh7gVA3Is3m1ovX4ZsvPQfjQ:1657155818128&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiv44G_yuX4AhXkDkQIHWSQDkkQ_AUoAnoECAEQBA&biw=1086&bih=498&dpr=1.25#imgrc=4ZUmBF8OL_a2aM

          https://www.google.com/search?q=boise+in+February&sxsrf=ALiCzsabgCPh7gVA3Is3m1ovX4ZsvPQfjQ:1657155818128&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiv44G_yuX4AhXkDkQIHWSQDkkQ_AUoAnoECAEQBA&biw=1086&bih=498&dpr=1.25#imgrc=Ye2IQX5Z5l1wqM

    1. The Fed took the lead in declaring war on inflation and following through with the action needed to contain it. The dollar reflects the first mover advantage the Fed claimed.

      1. According to Edward Dowd, former BlackRock fund manager, the dollar’s rise is an indicator of global credit contraction and the loss of control by the Fed.

        1. “…and the loss of control by the Fed.”

          Ouch!

          Rational perspective though since the fed and the SCOTUS have succumbed to political influence.

          1. SCOTUS have succumbed to political influence

            Disagree. The abortion and EPA cases show that it hasn’t.

          3. right wing politics

            Translation: following the constitution rather than legislating from the bench.

  38. A chart that plots the Fed Funds rate against the Consumer Sentiment Index …

    https://cms.zerohedge.com/s3/files/inline-images/consumer%20sentiment%202008.jpg?itok=nTXoc1Gz

    Think: In order to keep the economy humming during our (stupid) seventy-percent consumer-based economy it is important that interest rates remain low if consumer sentiment falls. But, as you can see, this is not happening.

    The long-postponed Day of Reckoning has arrived. Fasten your safety belts.

  39. “Most Americans Say Federal Government Actions Are Hurting Them: Poll”

    (snip)

    “A new poll shows that a majority of Americans feel that federal government actions over the past six months have hurt their families and that President Joe Biden’s policies have not benefited the middle class at all.”

    (snip)

    “This is the first time ever in the history of Monmouth polling that the share of Americans blaming Washington for making their chief concern worse has climbed above 50 percent. Prior polls saw that figure vary between 34 percent and 47 percent.”

    https://www.zerohedge.com/personal-finance/most-americans-say-federal-government-actions-are-hurting-them-poll

    1. President Joe Biden’s policies have not benefited the middle class at all

      I think the swamp people take a perverse pleasure in causing all this suffering.

  41. July 6, 2022, 6:24 pm By James Kleimann

    Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday.

    The company informed workers of the shut down in a conference call on Wednesday, a former staffer said. Sprout had already instituted several rounds of job cuts in the months leading up to the shutdown, the ex-employee said.

    The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility. First Guaranty Mortgage Company, controlled by asset management giant PIMCO, abruptly stopped operations less than two weeks ago after encountering turbulence caused by a sharp rise in rates and challenges in selling loans to investors.

    https://www.housingwire.com/articles/sprout-mortgage-to-shutter/

    Oh dear…

    1. Sprout Mortgage is shutting down operations,
      First the QM Lenders,( Alt-A in my mind), followed by brokers/mini-correspondents who have been living on Refis then, probably some bigger players. Loan depot doesn’t looks to sound to me (stock down 89% Y-O-Y) but who knows. Loan Depot originated the 4th most mortgage loans in 2021. Just ahead of Chase. 7 of the top 10 mortgage originators in 2021 were non banks. Most non-banks don’t have a lot of assets to cushion them if things turn south quickly. And most likely won’t have the Fed’s backing like the banks will.
      Could get interesting.

    3. What qualifications are those which non-Qualified Mortgage (non-QM) lenders lack?

      1. Mortgage
        Sprout Mortgage to shutter
        News comes less than two weeks after another non-QM lender abruptly shut down
        July 6, 2022, 6:24 pm
        By James Kleimann

        Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday.

        The company informed workers of the shut down in a conference call on Wednesday, a former staffer said. Sprout had already instituted several rounds of job cuts in the months leading up to the shutdown, the ex-employee said.

        The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility. First Guaranty Mortgage Company, controlled by asset management giant PIMCO, abruptly stopped operations less than two weeks ago after encountering turbulence caused by a sharp rise in rates and challenges in selling loans to investors.

        In April, HousingWire chronicled the struggles of lenders in the non-QM space as rates surged.

        Shea Pallante, the president of Sprout, told HousingWire that the company prefers to “focus our efforts on maximizing production during any changing rate environment. We’re confident that the non-QM sector — and Sprout in particular — will not only ride out the turbulence but outperform expected growth rates.”
        …
        CLICK!

        https://www.housingwire.com/articles/sprout-mortgage-to-shutter/

      1. The Financial Times
        Markets Briefing Commodities
        Treasury yields rise after Fed minutes show inflation concern
        Ten-year government bond sells off while crude oil sustains declines
        Traders work on the floor at the New York Stock Exchange
        The S&P 500 and Nasdaq Composite stock indices both closed 0.4% higher on Wednesday
        Nicholas Megaw in New York and Ian Johnston and Harriet Clarfelt in London 6 hours ago

        Stock markets whipsawed while a sell-off in US government bonds continued on Wednesday afternoon after minutes from the Federal Reserve’s most recent meeting warned that the central bank could move to a “more restrictive” monetary policy to fight inflation.

        The Fed last month raised its benchmark interest rate by 0.75 percentage points, the largest increase in almost 30 years, in an attempt to tame price rises. Minutes from the monetary policy committee meeting released on Wednesday said Fed officials were concerned that inflation “could become entrenched if the public began to question the resolve of the committee”.

        The yield on the benchmark 10-year Treasury note, which rises when prices fall, gained 0.12 percentage points to 2.93 per cent, having climbed about 0.09 percentage points earlier in the day.

        Options markets showed a slight increase in expectations for how high interest rates will climb by the end of the year.

        Markets have been pressured this year by worries that central banks’ efforts to rein in inflation will tamp down on demand, potentially pushing economies into recession.

        The 10-year Treasury yield fell below the two-year on Tuesday. Such a pattern — known as an inverted yield curve — is often seen as a warning sign of an impending recession, and the gap between two notes widened further on Wednesday.

        The S&P 500 stock index dipped in the immediate aftermath of the release of the Fed minutes, before jumping as much as 1 per cent and closing 0.4 per cent higher. The tech-heavy Nasdaq Composite also closed 0.4 per cent higher.

        Commodity and currency markets also highlighted growing recession fears on Wednesday, with Brent crude — the international oil benchmark — momentarily falling below $100 a barrel.

        Brent settled 2 per cent lower at $100.69 a barrel. US marker West Texas Intermediate slid 1 per cent to $98.53 a barrel, having dropped to less than $100 in the previous session.

        The euro also extended its recent losses, slumping as much as 1 per cent against the dollar to $1.016 — a move that took the common currency to less than $1.02 for the first time in two decades.

        The dollar index, which measures the US currency against a basket of six others and which tends to strengthen during times of uncertainty, added a further 0.5 per cent after a strong rally on Tuesday.

        “Continued [Federal Reserve] tightening amidst a global slowdown remains a very positive environment for the dollar,” wrote analysts at ING, who added that such an environment could lead the dollar index to “trade some 2 per cent higher, meaning that EUR/USD looks likely to drift towards parity this month”.

        “1.00 is probably the biggest psychological level around in FX,” said ING, “and fireworks look likely” when it happens.

        Data compiled by Nick Colas, co-founder of DataTrek Research, showed that dollar peaks correlated with the exact days of lows for the S&P 500 in 2009 and 2020.

        “The dollar has given useful information at prior major US large-cap equity lows,” he said. “The fact that it continues to strengthen versus the euro, pound and other currencies tells us to expect further US equity volatility.”
        …

  43. My gawd, the spending never stops:

    President Joe Biden on Wednesday touted a federal program to delay insolvency for private unions’ pension funds, but critics say taxpayer dollars should not be used to “bail out” pensions negotiated by unions.

    Biden spoke in Cleveland, Ohio, about the American Rescue Plan’s Special Financial Assistance program, which will protect more than 10 million Americans in multi-employer plans from seeing their benefits slashed when their plan becomes insolvent, which many are projected to do in the next few years.

    Biden called the plan “historic.”

    “This was $90 billion, O.K.?” Biden said in his remarks. “But it is small in comparison to the bailouts of businesses and major corporations and banks…”

    1. So, into what bill will this crammed into? “Build Back Even Better”?

      Isn’t it interesting that as election day approaches there is talk again of forgiving student loans and bailing out gold plated pensions?

  44. The most common symptoms of BA.4 and BA.5

    In the U.K., where BA.4 and BA.5 also account for the majority of new Covid cases, the most common Covid symptoms last week were runny nose, sore throat, headache, persistent cough and fatigue. Less than one-third of people surveyed reported fevers, according to data from the Zoe COVID Symptom Study, which asks people to self-report their symptoms through smartphone apps.

    So you probably won’t even have a fever. Why is this even an issue anymore? Is no worse than a mild cold.

    1. Terrestrial radio advertisements courtesy of Big Pharma would have you believe COVID is an organ-ravaging parasite.

    1. The Financial Times
      Opinion Lex
      Crypto bankruptcy: Voyager restructuring hinges on uncertain revival
      Account holders must decide whether brokerage is worth fighting for
      Voyager Digital app on a smartphone
      Having filed for Chapter 11 bankruptcy, the brokerage and lender Voyager Digital has halted withdrawals from crypto savings accounts
      yesterday

      Cryptocurrency brokerage and lender Voyager Digital has filed for Chapter 11 bankruptcy in a New York federal court. Voyager, whose shares are listed in Toronto, is among a number of digital currency players to halt withdrawals from crypto savings accounts. These offered high yields to depositors — 12 per cent annually in the case of Voyager.

      Deposits were loaned out to risky ventures. In the case of Voyager its central problem was a $654mn loan to the hedge fund Three Arrows. Three Arrows was exposed to the Terra/Luna coin blow-up. It filed for bankruptcy last week and is in the process of being liquidated.

      For now, no liquidation is in the works for Voyager. It plans to reorganise into a new listed company. Current account holders will get equity in Voyager 2.0, along with an allocation of coins, Voyager tokens and whatever can be clawed from the Three Arrows estate.*
      …

      1. The Indian Express
        HomeTechnologyCrypto
        ‘Invested all my family’s lifetime savings’: Users panic as Vauld suspends crypto withdrawals
        Vauld joins the growing list of Decentralised Finance (DeFi) companies such as Celsius network and Voyager Digital who have suspended trading on their platforms.
        Written by Mehab Qureshi | Pune | Updated: July 7, 2022 8:08:44 am
        Vauld, Vauld Crypto, Vauld Crypto suspends
        Vauld said on Monday it would suspend withdrawals and trading and seek new investors. (Image: Reuters)

        “I have 25 Bitcoin in Vauld. I have invested all my family’s lifetime savings,” John Mayer, 37, a US-based Vauld user told indianexpress.com during a conversation on a social media website. Mayer is among the many investors who are now desperately looking for relief after Vauld, a popular crypto lending platform, suspended its withdrawals and deposits.

        The company blamed the volatile market conditions for this decision. With this, Vauld joins the growing list of Decentralised Finance (DeFi) companies such as Celsius network and Voyager Digital who have suspended trading, making it difficult for hundreds of thousands of investors to liquidate their crypto-assets.

        According to Mayer, he had BTC as a fixed deposit. He tried to withdraw it multiple times but the app wouldn’t let him. “After reaching out to support, I was told that it was a bug and it’d be fixed soon. I asked them to manually cancel it and they said they can’t. I had 3 days left. Three days away from saving it all. I feel like the cop in the movies who retires tomorrow and gets shot on his last day,” he added. His sentiment is shared by other investors who are suddenly unable to access their funds.

        “How are we supposed to buy or sell our crypto during this time if most of the exchanges are halting withdraws and deposits? Are we supposed to just put in a little money, buy some crypto and immediately transfer it to cold storage before another exchange “pauses operations” and freezes our crypto? This is starting to become ridiculous,” Mike, another Vauld user told indianexpress.com.
        …
        https://indianexpress.com/article/technology/crypto/invested-all-my-familys-life-time-savings-vauld-users-panic-amid-withdrawal-suspension-8011800/

    3. Do you become suspicious when reading proposals which confound practical Blockchain utilization with investment in Blockchain assets?

      1. The Financial Times
        Blockchain
        UK fund managers lobby for approval of blockchain-traded funds
        Investment Association says utilising digital ledgers would cut administration costs
        City of London skyline
        The Investment Association said it was vital policymakers, regulators and industry participants should work together to ‘drive forward innovation without delay’
        Chris Flood yesterday

        Britain’s asset management industry is pushing the government to establish a new class of fund employing blockchain technology, highlighting how financial firms are tapping the architecture that underlies the crypto market.

        The Investment Association, the trade body representing the UK’s asset management industry which oversees close to £10tn for clients worldwide, will call on Thursday for the government and City regulator to work “at pace” to approve blockchain-traded funds that will issue digital tokens to investors instead of traditional shares or fund units.

        Significant cost savings for end investors could be achieved by using the digital ledgers known as blockchain, to drive multiple efficiency improvements in the existing laborious processes involved in buying and selling mutual funds, according to the Investment Association.

        The group will also propose the creation of a new task force to examine how distributed ledger technology could accelerate the creation of new products and services as well as allowing more investors to customise their portfolios with holdings in private companies and cryptocurrencies.

        Chris Cummings, Investment Association chief executive, said it was vital that policymakers, regulators and investment industry participants should work together to “drive forward innovation without delay”.

        “Greater innovation will boost the overall competitiveness of the UK funds industry and improve the cost, efficiency and quality of the investment experience,” said Cummings.

        Blockchain-traded funds, also known as tokenised or on-chain funds, could be rolled out as early as the end of the second quarter of 2023 if regulatory approval was expedited by Financial Conduct Authority.

        California-based Franklin Templeton launched the first US mutual fund to use blockchain to process transactions and record share ownership in April 2021.

        FundAdminChain, a financial technology group, is currently working with the London Stock Exchange and four global asset managers to develop live tokenised funds for the UK market.

        “Asset managers have realised that there is potential to generate alpha [market-beating returns] via tokenisation. Tokenised funds can deliver more transparency, instant settlement, improvements in data and analytics which will contribute to a more efficient system for investors but we need regulatory support to ensure that the UK remains competitive with other jurisdictions,” said Brian McNulty, CEO at FundAdminChain.

        The Investment Association is also calling for the FCA to assess whether traditional mutual funds should be allowed to own cryptocurrencies, such as bitcoin, as well as other digital assets.
        …

        1. My thoughts on this proposal:
          1) Wouldn’t the optics be better to wait for cryptogeddon to work through the financial system before plowing into a transition to the blockhain? Why the mad rush?
          2) Who makes bank if this proposal gains traction?
          3) Who gets left holding the bag if it fails to work as advertised?

  46. “On June 27, the average list price for a house for sale in Denver was $742,773. Three days later it dropped 2.9% to $721,517, according to Opendoor. Meanwhile, during the same three days, the median closing price fell $26,000, or 4%, to $619,000.”

    A 4% drop over three days occurs at an annualized rate of
    1 – (1-0.04)^(365/3) = 99.3%.

    Sounds a bit high…better check my math!

    1. Just ran it Excel. Take the start price, drop by 4% 121 times to get to one year. Final price, $5539, or 99.2%, give or take. So you’re right.

      But of course prices aren’t going to drop 4%/3 days for that long. If prices drop like that for, say, 2 weeks (~15 days), that $742K house would be $631K. I don’t know Cali, but I think at $631K someone would bite.

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