It's Friday desk clearing time for this blogger. "Nearly one in five sellers dropped prices…
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From the first 16 minute San Diego video:
Eric’s Neighborhood Watch – July 12, 2022 – 92128
Jul 12, 2022 Pending sales plummet in 92128. Proper pricing is key!
The second 10 minute video:
Market Snapshot | July 2022 | Temecula Ca | Murrieta Ca | Menifee Ca
Jul 13, 2022
The third 4 minute video:
Bank Of Canada Shockingly Raised The Interest Rate By 100 Basis Points
Jul 13, 2022 Bank of Canada was expected to raise the rate by maybe 75 basis points but shocked most people by increasing by 1%.
The fourth 20 minute video:
Seattle, Tacoma, Vashon and Areas Real Estate Housing Forecast | July 2022
Jul 12, 2022 Seattle, Tacoma, Kitsap, Vashon, East Side and Bainbridge real estate housing forecast – if you’re looking to buy or sell a home in the Seattle, Tacoma, Bainbridge, Bremerton, or Vashon area in 2022, check out our area housing market updates to help you make a smarter buying decision.
Starting with King County and Seattle housing, we head south to Pierce Co and Tacoma real estate at 3:48.. It’s then further east and north to Kitsap and Bainbridge housing at 7:01, and we then look toward Vashon housing at 10:36. Then let’s break down East Side of Seattle real estate at 15:22 and we’ll end up examining Central Seattle housing at 17:42.
Thanks for checking out this week’s Southwest Florida housing market update video. In this week’s stories I’ll touch on how you can tell when and where mortgage rates will be going with a stock ticker, why foreclosures take so long to come to market, and some surprising data about the slowdown in real estate across the country. That’s all in today’s “Headline Highlights” segment.
Bank of Canada’s major interest rate hike is a signal the economy is in really big trouble
The Star|11 hours ago
By taking pretty much everyone by storm and raising its key interest rates by a full percentage point, the central bank is leaving nothing to chance.
‘U.S. crypto lender Celsius Network said on Wednesday it has filed for bankruptcy, becoming the latest victim in the cryptocurrency sector to wilt under a dramatic plunge in prices.’
‘New Jersey-based Celsius listed estimated assets and liabilities on a consolidated basis in the range of $1-billion to $10-billion, according to a court filing in the U.S. Bankruptcy Court for Southern District of New York.’
‘Crypto lenders boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. They, however, tumbled in the recent months following a crash in cryptocurrency prices and the collapse of major token TerraUSD in May.’
‘Ron Butler, mortgage broker and owner of Toronto-based brokerage Butler Mortgage, wrote in a tweet that prime rates and the cost of home equity lines of credit are moving up in a big way.’
“Huge 100 bps increase … means bank prime is now 4.70 (per cent) and most HELOC rates are 5.20 (per cent),” Butler tweeted moments after the announcement. “The purchase of a rental property accessing a HELOC on an existing property for down payment is simply becoming unmanageable.”
‘Butler added that he expects home prices to decline steadily as a result, but that the Bank’s hawkish language means there could be more to come. “Now our attention switches to the September prime rate announcement. Yep … this can and likely will gets worse in six weeks.”
Yep … this can and likely will gets worse in six weeks.”
Awww, I feel so bad for all the speculators.
‘Another factor is that many startups are seeing their valuations — the price buyers would need to pay for their company — depressing in the current climate. Private companies often use multiples from a comparable publicly-traded corporation as a basis for their own valuation, meaning a declining stock market also entails a lower price tag for their startup, which could disincentive startups and their investors from exiting at the moment, the report said.’
‘Many startup founders and VCs have misaligned expectations as to what they believe their startup is worth versus what the market is willing to pay for it, said Aviel Ginzburg, general partner at Seattle’s Founders’ Co-op.’
‘He said corporations acquire startups to obtain their talent, but because many companies are cutting costs and doing layoffs, these types of acquisitions “make a lot less sense.”
‘Acquisitions in tech are also often made with the intent of expanding a company’s suite of products or services, Ginzburg said. He added that in uncertain times they’ll opt to hold out. “If the market cares more about margins and fundamentals than growth, then these kinds of acquisitions just don’t make sense,” he said. “Cash ain’t free anymore.”
‘Insurance costs have skyrocketed across the state. As home values increase, it’s becoming harder to get insurance from the state-backed Citizens Property Insurance.’
“Insurance is probably the biggest issue we see on the forefront in Florida and that’s why we had a special session on property insurance this pass years,” said State Rep. Chip LaMarca.’
‘But, during that special session, lawmakers failed to address a major concern impacting thousands of homeowners being priced out of getting coverage by Citizens, which is a last resort for many property owners.’
“This is actually an issue I tried to include in the bill last year, which is to actually raise the rebuilding cost for homes that are covered under Citizens. Right now, in Miami-Dade it’s up to a million, Broward County is capped at $700,000,” added Rep. LaMarca.’
‘That means, if it costs more than $700,000 to replace your Broward home or $1 million for Miami-Dade and Monroe, you can’t get coverage. Because of the cap, about 3,000 homeowners from across the state received non-renewal notices – most of them in the South Florida.’
Insurance subsidies prop the states that have a Gulf coastline.
‘About 14.9% of home-purchase agreements nationwide fell through in June, the highest percentage since the real estate industry ground to a halt at the start of the COVID-19 pandemic, a Redfin analysis found.’
‘That percentage was even higher in Houston, where it was 22.9%. Among all cities in the analysis, Houston’s percentage was the 13th highest. Las Vegas had the highest percentage, at 27.2.’
Starbucks to close six Los Angeles-area stores it calls ‘unsafe to continue to operate’
‘Mario Sanchez, a driver for DoorDash, doubted the closures would make a real difference. “Any place in downtown is not safe,” Sanchez said, picking up a delivery order at the Starbucks at 2nd and San Pedro. “Any place, not only here.”
“After careful consideration, we are closing some stores in locations that have experienced a high volume of challenging incidents that make it unsafe to continue to operate, to open new locations with safer conditions,” Starbucks said in a statement to The Times.
The wokeness is deafening.
‘Based on the Canadian Real Estate Association’s average home price of $711,000 in May, a variable rate of 2.7 per cent will result in monthly mortgage payments of roughly $2,845. At 3.7 per cent, which she considers the best mortgage rate, those payments will total $3,168, an increase of $323 per month.’
‘While people with variable mortgages will be affected, anyone whose mortgage rate is up for renewal will likely have “sticker shock” too, said Laurie Campbell, director of client financial wellness at advisement firm Bromwich + Smith.’
“It’s going to be a situation where a lot of people are going to be rethinking whether they can continue to afford that home,” she said. “We’ve seen 10 years leading up to this of continued housing increases and the housing market going astronomically insane. Now, it will level off no doubt with these interest increases.”
“…anyone whose mortgage rate is up for renewal will likely have “sticker shock” too…”
Didn’t we seen this show back in 2007?
“It’s going to go up again, potentially, and then again after that,” Vancouver mortgage broker Sherlock Yam told Global News. “Even though it’s still relatively low, we should be prepared that this isn’t going to be the end of it.”
‘Record-low interest rates during the COVID-19 pandemic saw large numbers of British Columbians enter the housing market, and for many, variable mortgage rates meant lower payments and flexibility.’
‘Niko Lambrinoudis, broker-owner with TRG Realty, said the changes are visible on the ground with more listings on the market and staying longer and prices adjusting downward. “Now we’re seeing the buyers take their time, they’re going to go out maybe a weekend maybe two weekends maybe three, see which one they want to go buy — which is kind of like it used to be, right?” he said. “What was going on for the longest time isn’t really the norm in real estate.”
Federal Reserve officials may debate a historic one percentage-point rate hike later this month after another searing inflation report piled pressure on the central bank to act. “Everything is in play,” Atlanta Fed President Raphael Bostic told reporters in St. Petersburg, Florida, on Wednesday after US consumer prices rose a faster-than-forecast 9.1% in the year through June. Asked if that included raising rates by a full percentage point, he replied, “it would mean everything.”
“You have to put 100 on the table for July,” said Andrew Hollenhorst, Citigroup chief US economist. “Everybody should be quite cautious about calling peak inflation — a few months ago the peak was supposed to be 8.3%.”
“After what happened in June, I do not rule anything out,’ said Stephen Stanley, chief economist at Amherst Pierpont Securities. “I had been thinking that the Fed would decelerate to a 50-basis-point-per-meeting pace beginning in September, but if the next two monthly inflation numbers look like May’s and June’s, all bets are off.”
‘DAN HOWLEY: I think it’s just because these are the gigantic tech companies that have hundreds of thousands of employees or at least more than 100,000 employees. And when you see layoffs or even slowdowns there, you start to think, well, if these big companies that are supposed to be so– positioned so well aren’t doing as well as they normally are, then this is a larger problem.’
‘So I think that’s really what people are saying. They’re looking at this saying, this is Alphabet, this is Meta. They’re not hiring new people or they’re slowing down, that’s when it starts to get a little scary.’
Dan, just get a magic wand and pop up some self driving flying taxis.
The tech giants have a cyclical culling of their deadwood employees.
‘Sundar Pichai, boss of Google and its parent Alphabet, told employees to “be more entrepreneurial” and work with “more hunger” in a staff-wide email that warned of consolidation, several news outlets reported.’
‘Citing the “uncertain global economic outlook,” the CEO said Google would slow its hiring pace for the second half of 2022. Google brought on a whopping 10,000 workers during the second quarter, per Pichai. The chief Googler went on to say the company would consolidate “where investments overlap” and streamline its processes. Effectively, Google is calling on its staff to work harder, or else.’
‘Tech companies of all shapes and sizes have laid off workers in the face of a looming recession. That includes Google, Microsoft, Tesla and other corporate giants, as well as comparatively much smaller businesses like Bird, Rivian and Coinbase. Pichai’s memo did not mention layoffs, but phrases like “streamlining” and “consolidating” tend to evoke such things.’
‘The crunch in startup investment has led the entire global startup ecosystem to a bad downturn. The year 2022 has seen a heavy downturn in terms of finances and businesses have been impacted substantially. The grim picture that we currently see is in many ways the stark opposite of last year, where ample of funding had been poured in to startups and many were aggressive in their approach to hiring. Last year, when investments were at a boom, companies were offering lucrative deals to new joinees, some even put keys to luxury bikes on the offer table. Now, in order to survive this ‘funding winter’, as Unacademy’s Co-founder and CEO Gaurav Munjal dubs it, companies have had to take decisions to make their workforces’ slighter in order to cut costs. Over 10,000 Indians have lost their jobs in 2022 alone as a consequence of these decisions.’
‘At the onset of these mass layoffs, we had a word with Amit Ratanpal, Founder, BLinC Invest, who shared that the layoffs were as a direct result of startups being unable to follow the anticipated growth strategy that they had in place in 2021. This is a reason why overall funding scale has changed and the number of investment deals have definitely gone down. “I saw companies raising $20-30 million at seed stage with nothing ready to back that investment up. Is this sustainable? Definitely not. This euphoria will come down now, as more investors would be looking at realistic numbers for good quality sustainable business,” he said. The issue is more relevant than ever and investors foresee that we can see more and more layoffs from startups in the time to come, until the funding freeze hits rock bottom and things turn to normalcy.’
Bahahahahahahahahahaha … after pukes pay out some very big bucks to buy a car with features such as heated seats these pukes still have to pay out monthy charges to strangers in order to use them.
As one national broker disclosed, “There are no bidding wars nor has there ever been… It’s just something we deliberately misrepresent to get the buyer to pay far more.”
From the first 16 minute San Diego video:
Eric’s Neighborhood Watch – July 12, 2022 – 92128
Jul 12, 2022 Pending sales plummet in 92128. Proper pricing is key!
The second 10 minute video:
Market Snapshot | July 2022 | Temecula Ca | Murrieta Ca | Menifee Ca
Jul 13, 2022
The third 4 minute video:
Bank Of Canada Shockingly Raised The Interest Rate By 100 Basis Points
Jul 13, 2022 Bank of Canada was expected to raise the rate by maybe 75 basis points but shocked most people by increasing by 1%.
The fourth 20 minute video:
Seattle, Tacoma, Vashon and Areas Real Estate Housing Forecast | July 2022
Jul 12, 2022 Seattle, Tacoma, Kitsap, Vashon, East Side and Bainbridge real estate housing forecast – if you’re looking to buy or sell a home in the Seattle, Tacoma, Bainbridge, Bremerton, or Vashon area in 2022, check out our area housing market updates to help you make a smarter buying decision.
Starting with King County and Seattle housing, we head south to Pierce Co and Tacoma real estate at 3:48.. It’s then further east and north to Kitsap and Bainbridge housing at 7:01, and we then look toward Vashon housing at 10:36. Then let’s break down East Side of Seattle real estate at 15:22 and we’ll end up examining Central Seattle housing at 17:42.
The last 21 minute video:
Florida Housing Market Update & Mortgage Interest Rates Today Premiered Jul 12, 2022
Thanks for checking out this week’s Southwest Florida housing market update video. In this week’s stories I’ll touch on how you can tell when and where mortgage rates will be going with a stock ticker, why foreclosures take so long to come to market, and some surprising data about the slowdown in real estate across the country. That’s all in today’s “Headline Highlights” segment.
Bank of Canada’s major interest rate hike is a signal the economy is in really big trouble
The Star|11 hours ago
By taking pretty much everyone by storm and raising its key interest rates by a full percentage point, the central bank is leaving nothing to chance.
A reader sent this in:
John Wake
Scary! from Black Knight
https://twitter.com/JohnWake/status/1547341565126799361
‘U.S. crypto lender Celsius Network said on Wednesday it has filed for bankruptcy, becoming the latest victim in the cryptocurrency sector to wilt under a dramatic plunge in prices.’
‘New Jersey-based Celsius listed estimated assets and liabilities on a consolidated basis in the range of $1-billion to $10-billion, according to a court filing in the U.S. Bankruptcy Court for Southern District of New York.’
‘Crypto lenders boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. They, however, tumbled in the recent months following a crash in cryptocurrency prices and the collapse of major token TerraUSD in May.’
https://www.theglobeandmail.com/world/article-crypto-lender-celsius-files-for-bankruptcy/
‘Ron Butler, mortgage broker and owner of Toronto-based brokerage Butler Mortgage, wrote in a tweet that prime rates and the cost of home equity lines of credit are moving up in a big way.’
“Huge 100 bps increase … means bank prime is now 4.70 (per cent) and most HELOC rates are 5.20 (per cent),” Butler tweeted moments after the announcement. “The purchase of a rental property accessing a HELOC on an existing property for down payment is simply becoming unmanageable.”
‘Butler added that he expects home prices to decline steadily as a result, but that the Bank’s hawkish language means there could be more to come. “Now our attention switches to the September prime rate announcement. Yep … this can and likely will gets worse in six weeks.”
https://www.yahoo.com/now/bank-canada-full-percentage-point-144436394.html
Yep … this can and likely will gets worse in six weeks.”
Awww, I feel so bad for all the speculators.
‘Another factor is that many startups are seeing their valuations — the price buyers would need to pay for their company — depressing in the current climate. Private companies often use multiples from a comparable publicly-traded corporation as a basis for their own valuation, meaning a declining stock market also entails a lower price tag for their startup, which could disincentive startups and their investors from exiting at the moment, the report said.’
‘Many startup founders and VCs have misaligned expectations as to what they believe their startup is worth versus what the market is willing to pay for it, said Aviel Ginzburg, general partner at Seattle’s Founders’ Co-op.’
‘He said corporations acquire startups to obtain their talent, but because many companies are cutting costs and doing layoffs, these types of acquisitions “make a lot less sense.”
‘Acquisitions in tech are also often made with the intent of expanding a company’s suite of products or services, Ginzburg said. He added that in uncertain times they’ll opt to hold out. “If the market cares more about margins and fundamentals than growth, then these kinds of acquisitions just don’t make sense,” he said. “Cash ain’t free anymore.”
https://www.msn.com/en-us/money/companies/buyers-wanted-exit-opportunities-for-venture-backed-startups-sharply-decline-amid-downturn/ar-AAZyt6Y
Thailand News Today | WHO warns of more Covid, but does the world care?
https://thethaiger.com/news/national/thailand-news-today-who-warns-of-more-covid-but-does-the-world-care
‘Insurance costs have skyrocketed across the state. As home values increase, it’s becoming harder to get insurance from the state-backed Citizens Property Insurance.’
“Insurance is probably the biggest issue we see on the forefront in Florida and that’s why we had a special session on property insurance this pass years,” said State Rep. Chip LaMarca.’
‘But, during that special session, lawmakers failed to address a major concern impacting thousands of homeowners being priced out of getting coverage by Citizens, which is a last resort for many property owners.’
“This is actually an issue I tried to include in the bill last year, which is to actually raise the rebuilding cost for homes that are covered under Citizens. Right now, in Miami-Dade it’s up to a million, Broward County is capped at $700,000,” added Rep. LaMarca.’
‘That means, if it costs more than $700,000 to replace your Broward home or $1 million for Miami-Dade and Monroe, you can’t get coverage. Because of the cap, about 3,000 homeowners from across the state received non-renewal notices – most of them in the South Florida.’
https://www.cbsnews.com/miami/news/citizens-dropping-south-florida-residents-home-replacement-value-exceeds-cap/
Insurance subsidies prop the states that have a Gulf coastline.
‘About 14.9% of home-purchase agreements nationwide fell through in June, the highest percentage since the real estate industry ground to a halt at the start of the COVID-19 pandemic, a Redfin analysis found.’
‘That percentage was even higher in Houston, where it was 22.9%. Among all cities in the analysis, Houston’s percentage was the 13th highest. Las Vegas had the highest percentage, at 27.2.’
https://houstonagentmagazine.com/2022/07/13/22-9-of-houston-home-purchase-agreements-fell-through-in-june/
Starbucks to close six Los Angeles-area stores it calls ‘unsafe to continue to operate’
‘Mario Sanchez, a driver for DoorDash, doubted the closures would make a real difference. “Any place in downtown is not safe,” Sanchez said, picking up a delivery order at the Starbucks at 2nd and San Pedro. “Any place, not only here.”
https://www.latimes.com/california/story/2022-07-12/starbucks-to-close-six-los-angeles-stores-10-others-around-country-due-to-safety-issues
Weather!
“After careful consideration, we are closing some stores in locations that have experienced a high volume of challenging incidents that make it unsafe to continue to operate, to open new locations with safer conditions,” Starbucks said in a statement to The Times.
The wokeness is deafening.
‘Based on the Canadian Real Estate Association’s average home price of $711,000 in May, a variable rate of 2.7 per cent will result in monthly mortgage payments of roughly $2,845. At 3.7 per cent, which she considers the best mortgage rate, those payments will total $3,168, an increase of $323 per month.’
‘While people with variable mortgages will be affected, anyone whose mortgage rate is up for renewal will likely have “sticker shock” too, said Laurie Campbell, director of client financial wellness at advisement firm Bromwich + Smith.’
“It’s going to be a situation where a lot of people are going to be rethinking whether they can continue to afford that home,” she said. “We’ve seen 10 years leading up to this of continued housing increases and the housing market going astronomically insane. Now, it will level off no doubt with these interest increases.”
https://www.msn.com/en-ca/news/canada/how-the-bank-of-canada-s-rate-hike-will-impact-mortgages-loans-and-spending/ar-AAZxx9f
“…anyone whose mortgage rate is up for renewal will likely have “sticker shock” too…”
Didn’t we seen this show back in 2007?
“It’s going to go up again, potentially, and then again after that,” Vancouver mortgage broker Sherlock Yam told Global News. “Even though it’s still relatively low, we should be prepared that this isn’t going to be the end of it.”
‘Record-low interest rates during the COVID-19 pandemic saw large numbers of British Columbians enter the housing market, and for many, variable mortgage rates meant lower payments and flexibility.’
‘Niko Lambrinoudis, broker-owner with TRG Realty, said the changes are visible on the ground with more listings on the market and staying longer and prices adjusting downward. “Now we’re seeing the buyers take their time, they’re going to go out maybe a weekend maybe two weekends maybe three, see which one they want to go buy — which is kind of like it used to be, right?” he said. “What was going on for the longest time isn’t really the norm in real estate.”
https://www.msn.com/en-ca/money/other/what-wednesday-e2-80-99s-interest-rate-hike-means-for-bc-e2-80-99s-housing-market/ar-AAZyobf
Federal Reserve officials may debate a historic one percentage-point rate hike later this month after another searing inflation report piled pressure on the central bank to act. “Everything is in play,” Atlanta Fed President Raphael Bostic told reporters in St. Petersburg, Florida, on Wednesday after US consumer prices rose a faster-than-forecast 9.1% in the year through June. Asked if that included raising rates by a full percentage point, he replied, “it would mean everything.”
“You have to put 100 on the table for July,” said Andrew Hollenhorst, Citigroup chief US economist. “Everybody should be quite cautious about calling peak inflation — a few months ago the peak was supposed to be 8.3%.”
“After what happened in June, I do not rule anything out,’ said Stephen Stanley, chief economist at Amherst Pierpont Securities. “I had been thinking that the Fed would decelerate to a 50-basis-point-per-meeting pace beginning in September, but if the next two monthly inflation numbers look like May’s and June’s, all bets are off.”
https://finance.yahoo.com/news/fed-could-weigh-historic-100-145945366.html
‘DAN HOWLEY: I think it’s just because these are the gigantic tech companies that have hundreds of thousands of employees or at least more than 100,000 employees. And when you see layoffs or even slowdowns there, you start to think, well, if these big companies that are supposed to be so– positioned so well aren’t doing as well as they normally are, then this is a larger problem.’
‘So I think that’s really what people are saying. They’re looking at this saying, this is Alphabet, this is Meta. They’re not hiring new people or they’re slowing down, that’s when it starts to get a little scary.’
https://finance.yahoo.com/video/job-layoffs-circulate-throughout-tech-203938180.html
Dan, just get a magic wand and pop up some self driving flying taxis.
The tech giants have a cyclical culling of their deadwood employees.
‘Sundar Pichai, boss of Google and its parent Alphabet, told employees to “be more entrepreneurial” and work with “more hunger” in a staff-wide email that warned of consolidation, several news outlets reported.’
‘Citing the “uncertain global economic outlook,” the CEO said Google would slow its hiring pace for the second half of 2022. Google brought on a whopping 10,000 workers during the second quarter, per Pichai. The chief Googler went on to say the company would consolidate “where investments overlap” and streamline its processes. Effectively, Google is calling on its staff to work harder, or else.’
‘Tech companies of all shapes and sizes have laid off workers in the face of a looming recession. That includes Google, Microsoft, Tesla and other corporate giants, as well as comparatively much smaller businesses like Bird, Rivian and Coinbase. Pichai’s memo did not mention layoffs, but phrases like “streamlining” and “consolidating” tend to evoke such things.’
https://finance.yahoo.com/news/google-tells-staff-act-more-031850473.html
Germans will have to burn wood to stay warm this winter, warns Deutsche Bank
https://finance.yahoo.com/news/uk-economy-grows-more-expected-060646117.html
‘The crunch in startup investment has led the entire global startup ecosystem to a bad downturn. The year 2022 has seen a heavy downturn in terms of finances and businesses have been impacted substantially. The grim picture that we currently see is in many ways the stark opposite of last year, where ample of funding had been poured in to startups and many were aggressive in their approach to hiring. Last year, when investments were at a boom, companies were offering lucrative deals to new joinees, some even put keys to luxury bikes on the offer table. Now, in order to survive this ‘funding winter’, as Unacademy’s Co-founder and CEO Gaurav Munjal dubs it, companies have had to take decisions to make their workforces’ slighter in order to cut costs. Over 10,000 Indians have lost their jobs in 2022 alone as a consequence of these decisions.’
‘At the onset of these mass layoffs, we had a word with Amit Ratanpal, Founder, BLinC Invest, who shared that the layoffs were as a direct result of startups being unable to follow the anticipated growth strategy that they had in place in 2021. This is a reason why overall funding scale has changed and the number of investment deals have definitely gone down. “I saw companies raising $20-30 million at seed stage with nothing ready to back that investment up. Is this sustainable? Definitely not. This euphoria will come down now, as more investors would be looking at realistic numbers for good quality sustainable business,” he said. The issue is more relevant than ever and investors foresee that we can see more and more layoffs from startups in the time to come, until the funding freeze hits rock bottom and things turn to normalcy.’
https://www.msn.com/en-us/money/smallbusiness/handing-out-the-pink-slip-whats-the-most-cautious-approach-to-mass-layoffs/ar-AAZyNwF
Wa happened to my money losing concepts stocks?
Energy futures …
https://finviz.com/futures_charts.ashx?t=ENERGY&p=d1
Bahahahahahahahahahaha … after pukes pay out some very big bucks to buy a car with features such as heated seats these pukes still have to pay out monthy charges to strangers in order to use them.
I like it.
https://www.zerohedge.com/technology/bmw-charges-drivers-18-month-heated-seat-subscription
Rio Linda, CA Housing Prices Crater 20% YOY As Subprime Mortgage Lending Blows The Doors Off Sacramento Area Housing Market
https://www.movoto.com/rio-linda-ca/market-trends/
As one national broker disclosed, “There are no bidding wars nor has there ever been… It’s just something we deliberately misrepresent to get the buyer to pay far more.”