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Today’s Sellers Feel They’ve Missed Out On The Hot Sellers’ Market And In Some Ways They Have

A report from Fox News. “‘For the last seven straight months it has been going down and this is a huge drop – and I think all it says is, ‘Somebody do something or we’re going to go into a recession,’ said National Association of Home Builders CEO Jerry Howard.”

US News and World Reports. “The confidence of homebuilders fell 12 points in July in its sharpest drop since the early days of the coronavirus, the National Association of Homebuilders reported. ‘In another sign of a softening market, 13% of builders in the HMI survey reported reducing home prices in the past month to bolster sales and/or limit cancellations,’ said association Chairman Jerry Konter, a home builder and developer from Savannah, Georgia.”

From Business Insider. “‘This was an accident waiting to happen,’ Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a note. ‘Homebuilders have been in denial about the extent of the drop in demand, despite mortgage applications falling by more than a quarter over the first half of the year, with no end in sight to the decline.’ Shepherdson added that buyers now have more choice in the market given the surplus supply of new homes, while the index could fall further. ‘Pretty soon, anyone who has bought a home in recent months will be sitting on a loss,’ he said.”

From WJW on Ohio. “Brendan Durkin, of Rocky River, knows the stress firsthand after recently purchasing a new home prior to selling his previous house. ‘We were excited for five minutes and now we’ve got to sell our house,’ said Durkin. ‘We ran into the mortgage interest rate rise a little bit with our new house.’ ‘Longer time on market which is something we haven’t seen over the last 18 to 24 months,’ said realtor Mark Vittardi of CENTURY 21 DePiero & Associates. ‘Properties coming back to market, that’s something we haven’t seen all that often over the last 24 months as well.'”

“After frustrations trying to find the perfect home, Kia Durham decided to work with a builder to construct a home in a west side suburb. She realizes new construction is not immune to market fluctuation. ‘You absolutely adore this home and you’re making all sorts of bids and you’re like, ‘OK, I’ll put in another bid, I’ll put in extra money,’ and then for other people to outbid you, can’t sleep at night,’ said Durham.”

From Fortune. “The biggest beneficiary of that WFH homebuying wave was undoubtedly Boise—where home prices skyrocketed 53%. But that Boise honeymoon is over. The downward slide in Boise has only just begun, according to Rick Palacios Jr., head of research at John Burns Real Estate Consulting. By December, the real estate research firm projects that home prices will be negative in Boise on a year-over-year basis. In order for that to happen, Boise would not only have to lose all of its 2022 gains—which is already starting to happen—but also fall under its December 2021 price. Boise isn’t the only market that has seen its home price ‘top’ blow off. Markets like Phoenix and Austin have also, Palacios says, entered into a downward slide.”

“‘You could make a strong case that in a lot of housing markets the last 10% of home price appreciation was purely aspirational and irrational, and that’ll come off the top really fast,’ Palacios says. ‘That’s exactly what we’re all seeing right now.'”

“‘Investors sometimes move in a herd. If Phoenix real estate isn’t the cool investment anymore in 2022, it could have a big and quick impact on home sales. If a lot of investors decide to sell…Yikes. Live-in owners don’t sell just because they think it’s the top of the market or because prices are fading but investors will and we have a lot more investor-owned houses now than we used to,’ John Wake, an independent real estate analyst based in Phoenix tells Fortune.”

“Over the past two years, home prices in bubbly markets like Austin and Phoenix have jumped a staggering 61% and 59%, respectively. But don’t be surprised if those markets lose a chunk of it. ‘If you don’t think that we need to give some of that back, then I don’t know what planet you’re on. It doesn’t make sense,’ Palacios says.”

From Deseret News. “Yet again, a city in the West has seen the nation’s largest share of home sellers cutting their asking prices. In May, it was Provo, Utah. In June? Boise, Idaho. That’s according Redfin, which shows nearly two-thirds — 61.5% — of homes for sale in Boise, Idaho, had a price drop in June. Another western city, Denver, took the No. 2 ranking for the city with the largest share of homes that saw price cuts, with 55.1%. Next, in the No. 3 slot, is Salt Lake City — which saw a 51.6% share of homes with asking price cuts.”

“The common denominator for all of these cities? They’re all in the West where housing markets exploded, especially over the last two years. Other cities have also seen larger shares of homes with price cuts in June. Tacoma, Washington, saw 49.5%; Grand Rapids, Michigan, saw 49.3%; Sacramento saw 48.7%; Seattle saw 46.3%; and Portland, Oregon, saw 45.7%.”

“‘Today’s sellers feel they’ve missed out on the hot sellers’ market and in some ways they have,’ said Andy Potarf, a Redfin real estate agent in Denver. ‘They’re probably not going to get multiple offers and sell their home way over asking price, but we can still sell a home for a fair price.'”

The Dallas Morning News in Texas. “Mark Wolfe, owner of Re/Max DFW Associates, said that a quarter of all listings on the market in D-FW are now seeing price reductions, as homes aren’t selling as quickly as sellers and agents expect. Homes seeing price drops were likely overpriced to begin with, he said. The number of showings per listing at Wolfe’s offices are down from eight each week last year to an average of three now. Homes are taking weeks instead of days to sell, and more inventory is available.”

From Bloomberg. “The pace of California home sales plunged 21% in June from a year earlier as soaring mortgage rates took a bite out of buyer interest, the state Realtors group reported Monday. June’s sales were at the lowest level since April 2008, when a housing bubble was bursting. Single-family home prices in the most populous state fell to a median of $863,790 in June, down 4% from the all-time high of $900,170, set in May. Other signs pointing to a cooldown include fewer pending sales, a growing inventory of available homes and a shrinking share of deals closing above the asking price.”

The Financial Post. “The once-red hot Canadian real estate market is beginning to witness a trend that would have been unthinkable just months ago: Homes are starting to sell at a discount. In Victoria, a luxury 5 bedroom listed at $2.25 million ended up selling at $1.93 million — a drop of $320,000. In the same month, a home on the other coast — in Halifax — sold at $140,000 below its list price of $900,000. The Toronto suburbs, in particular, are yielding a near-daily stream of homes sold at discounts of more than $100,000.”

“A detached home in Mississauga, west of Toronto, went on the market in April at $1.6 million. After two months, the sellers let it go for $1.38 million. A four-bedroom mini-mansion in Brampton, 40 km northwest of Toronto, hit the market at $1.8 million but ultimately sold for $1.5 million, a price reduction of $300,000. A similar Brampton home spent 35 days on the market at a list price of $1.4 million before sellers accepted an offer that was more than $250,000 lower.”

“Many other sellers are rejecting low bids outright. Another phenomenon to hit Canadian real estate in recent weeks has been a spike in ‘delistings,’ homes that are taken off the market after failing to attract any bids. In some regions of Ontario right now, more homes have been delisted in the past 30 days than have been sold. If sellers are chronically overestimating the values of their homes, it’s largely because Canadian home sales had spent more than a year being defined by the exact opposite phenomenon. This time in 2021, virtually every real estate market in Canada was seeing homes go to bidding wars that yielded sales up to 20 per cent higher than list prices.”

“The return of ‘sold under ask’ pricing to Canadian real estate is one of the most obvious signals of a market that is entering a period of prolonged freefall. In June alone, Canadian home prices fell by 1.9 per cent, which a Royal Bank analysis called the ‘largest-ever one-month decline.’ ‘Canadian home prices are dropping faster and faster, especially in Ontario and parts of British Columbia,’ it read.”

“The biggest driver for the decline is the looming end of cheap debt.”

From Stockhead. “Nobody seems particularly put out that China’s economy grew by just 0.4% in the second quarter compared with a year earlier. Economists polled by Reuters, because they have time to do that, reckoned China would grow by 1% in the three months to June. The impenetrably complex and frustrating and unverifiable Chinese financial data app Win.d, reckoned 1.1%. Either way: everyone expected crap; they got crapper.”

“But that’ll be the reality of what happens when you apply the theory of shutting down every single moving thing in a city of 22 million for an impossible goal and the economic impact becomes simply too evident to hide. No amount of creative mathematics can rewind the Shanghai and other city lockdowns which made this China’s weakest quarter of the millennium – aside from that COVID-quarter back in 2020, when China fumbled at the bra strap of Wuhan’s early outbreak.”

“China really does appear to be vulnerable to this humungous property snot-bubble that’s been decades in the making. The most recent sighting of the monster’s true form is by far the most frightening – brazen flash-mob style protests by locally organised mortgage boycotters which have quickly spread.Refusing to pay any more for unbuilt homes, protestors gathered, probably hoping not to be beaten, but certainly bracing for it. But it’s the plain clothed police/thugs which are probably most concerning.”

“Last week, off-the-plan buyers of more than 250 mega-properties in almost 100 cities have come manifesting out of internet forums to collectively say screw you jack to agents demanding mortgage payments for the gazillions of unfinished, pre-sold apartments. Like some insane advertising catchphrase: – Where the building has stopped, but not the upfront payments.”

“The mum and dad investors are promising that unless construction gets cracking, no-one’s paying another cent – 种瓜得瓜, (zhòng guā dé guā: literally, ‘plant a melon, get a melon,’ but translates better into ‘you reap what you sow’.) My cracking Mando aside, until someone nuts a Communist Party official, authorities won’t be too bothered by that. If anything, zero-COVID has shown that more than ever they can crush injustices with absolute confidence. But what might be bothersome, even disturbing for officials, is that residential dwelling values are carking it again. The stats people make June the 10th straight month of home value declines.”

“It’s quite easy to beat people for falling victim to a system, but not even provincial government goons can scare the safety back into Chinese property and its inconceivable debts.”

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This Post Has 132 Comments

  1. The first 9 minute video:

    July Sacramento Housing Market Update 2022 Jul 18, 2022

    The second 8 minute video:

    Cape Coral Real Estate Market Update Jul 18, 2022

  2. ‘Over the past two years, home prices in bubbly markets like Austin and Phoenix have jumped a staggering 61% and 59%, respectively. But don’t be surprised if those markets lose a chunk of it. ‘If you don’t think that we need to give some of that back, then I don’t know what planet you’re on. It doesn’t make sense’

    I said that as it was happening Rick.

  3. ‘ If Phoenix real estate isn’t the cool investment anymore in 2022, it could have a big and quick impact on home sales. If a lot of investors decide to sell…Yikes. Live-in owners don’t sell just because they think it’s the top of the market or because prices are fading but investors will’

    A whole bunch of live in loanowners are speculating too John. Yer finding that out.

    1. Movoto needs a better calculator. They have average listing last month at $399,000 – 1,502 avg sq foot = $263. This month they have $398,800 avg list price and 1,613 sq foot for $263. Did my own calc and $398,800 at 1,613 sq feet comes out at $247, so a sweet $16 drop MOM. Last year $224, so getting close to erasing 12 months of gains and we’re just getting started.

      1. Patience my good friend patience….. 12 years of appraisal fraud isn’t undone 30 days and double digit rates aren’t accomplished in one Fed meeting.

        Las Vegas, NV Housing Prices Crater 21% YOY As Desperate Sellers Send Inventory Soaring And Prices Plunging Across Southwest States

        https://www.movoto.com/nv/89118/market-trends/

      2. so a sweet $16 drop MOM

        Don’t get wild with the maths. They’re publishing Medians, which are not Averages.

  5. ‘Pretty soon, anyone who has bought a home in recent months will be sitting on a loss’

    This is one of those REIC capitulation moments we see from time to time.

  7. * “ . . . when China fumbled at the bra strap of Wuhan’s early outbreak. “

    now THAT line really woke me up this morning!

  8. Sorry about the interruption. Even the mighty HBB can go down.

    ‘The common denominator for all of these cities? They’re all in the West where housing markets exploded, especially over the last two years’

    Ahem…

    2. “the last 10% of home price appreciation was purely aspirational and irrational”

      Good thing everybody put 20% down.

        1. BINGO.

          Just like all these tall tales. If it’s about housing, it’s a lie. You’re not going to hear any truth about housing unless it’s from the HBB. No flattery intended.

  9. Hey Real Journalists, the reason people don’t trust you is because all you do is lie. Try putting out real news and real truth, for a change, instead of pushing globalist propaganda and DNC talking points, and you might start rebuilding your credibility with viewers.

    MSNBC’s Katy Tur wonders if she’s doing ‘more harm than good’ as a journalist: ‘People don’t trust us’

    https://www.foxnews.com/media/msnbc-katy-tur-wonders-doing-more-harm-good-journalist-people-dont-trust-us

    1. They do try the occasional head fake, like when they pretend to attack Biden, only to circle the wagons when he makes a truly colossal blunder.

  10. Are Home Prices Falling In Killeen Texas???
    Jul 18, 2022 There is a very apparent shift happening in the Killeen housing market. Homes are sitting longer, and sellers are dropping prices left and right. What does this mean for future home sellers and buyers?? Are home prices finally falling??

    https://www.youtube.com/watch?v=gyDMocbiQ-A

    7:15.

  11. Is the Housing Market Crashing In Santa Fe? – URGENT Santa Fe real estate market update, summer 2022
    Premiered 13 hours ago Is the Housing Market Crashing In Santa Fe? – SANTA FE HOUSING MARKET URGENT UPDATE!!!

    Are you planning on moving to Santa Fe, New Mexico? Maybe you’re thinking of making a move to Santa Fe, but you first want to know the status of the Housing Market. Is there really a real estate market shift, or is it finally crashing? Then you don’t want to miss this video!

    Here is what we are going to cover in this video:
    00:00 Introduction
    00:36 The real estate market is shifting in Santa Fe!
    01:27 Is the housing market in Santa Fe crashing?
    02:55 Interest rates are on the rise!
    05:03 We are expecting more inventory to hit the market, but we are still at record low inventory.
    06:28 We do not expect prices for homes in Santa Fe to decrease.
    06:47 Less competition for buyer’s when writing offers for a home in Santa Fe.
    07:22 What should I offer on a home in Santa Fe?
    08:02 Do you need help navigating this crazy real estate market in Santa Fe?

    https://www.youtube.com/watch?v=f0AAflMxSm8

    8:40.

  12. Wilmington Real Estate Market Update
    Jul 19, 2022 Is the Wilmington real estate market continuing to shift? Realtor Melanie Cameron shares this week’s numbers, including how many homes have come on the market, gone under contract, and sold in the past 7 days in New Hanover County, Pender County, and Brunswick County. She also talks about what we are seeing in way of multiple offers and offering above listing price.

    https://www.youtube.com/watch?v=nKpVL5aKZLM

    3:22. At 2:40 “if you are overpriced, you’re making a mistake.”

  13. OK, why is the market giddy today? Isn’t the Fed’s next interest rate boost imminent?

    1. Markets never go straight down. There will be massive bear market rallies, short squeezes, etc. In today’s algo-based format, it’s easy for all of the computers to drive the market straight up for a while.

      Also, never forget how much cash is still sloshing around out there. Trading houses will be speculating until they are wiped out.

      1. In today’s algo-based format, it’s easy for all of the computers to drive the market straight up for a while.

        Given the endless stream of bad news, those must be some strange algorithms.

        1. Or drive the market downward in a Fibonacci spiral although there are circuit breakers in place these days.

  15. Las Vegas Real Estate News – We have reached the top.
    Jul 18, 2022 The real estate data for April and May shows that the U.S. housing market is softening. New home sales fell 19% to their lowest level since April 2020. Redfin reports 19% of home listings cut their price over the past month. Inventory is increasing, while mortgage applications and existing home sales are also falling.

    Demand is pulling back—fast—in the face of mortgage rates that have spiked dramatically.

    In Las Vegas we are seeing our investors aggressively slashing prices to unload properties. Listings no longer have multiple offers and buyers lined up in the driveway.

    https://www.youtube.com/watch?v=DCxcykVUL90

    2:36. A comment:

    “Jim,I have been rehabbing and flipping for a while. Did my last in North LV in January. 21 offers and buyers waive inspection. I was in seven open houses last weekend. They were all dead.most likely a 75 point fed rate hike later this month……game over.FEAR brought it up just like it’s going to bring it down. Good show. At least you are honest. Mostly I see realtors actually saying it’s a good time to buy reasoning that rates will go up…..it’s obvious they only care about their commissions. Real estate 101 much better to buy a house for less on a higher rate and refi later”

    1. All these yootoobers like to fight the Fed. I remind all of them….

      Don’t fight the Fed my good friends….. don’t fight the Fed.”

      It seems to make some feel better…. and enrage others.

    1. Sweet! $65 per sq ft less than last year! Hope no one bought there in past 12 months with 20% down.

      1. The globalists must hate the open mockery of their puppet.

        As long as they achieve their objectives, they probably don’t care a whit. You can’t shame those who feel no shame.

  18. High Housing Costs, Remote Work Leading People to Move Out of the Bay Area
    NBC Bay Area
    Jul 18, 2022 The Bay Area had the largest net outflow of any large metro area over the last three months, Redfin says, and it appears to be driven by the region’s high housing costs and the ability people have to work remotely.

    https://www.youtube.com/watch?v=ewLrv6yMrvk

    2:31.

    1. It doesn’t matter if you make $200K, you can’t service a million+ dollar mortgage. Plus who wants to live in that cesspool? Mild winters only go so far.

  19. Prices still have a long way to drop before they look reasonable. Wife and I have been watching RE in Idaho and Tennessee. I still see homes for sale at $700,000 or more that last sold for $350,000, $400,000 in 2019. I just think WTF.

      2. “You’re not supposed to think”

        Were you ever a line coach?

        Because I had one that said the same thing. Whenever one of us blocked the wrong man or screwed up a snap count he would get in our face and calmly ask…

        (Last name here) why did you do that?

        Which would draw the response…. I thought

        Where he would cut us off and scream… DON’T THINK!!!

        IT IS NOT YOUR GD JOB TO THINK!!

        LOOK WHAT HAPPENS WHEN YOU THINK!

        Gassers! (Last name here) has earned you all gassers!

        By the end of double sessions there were no blown assignments or missed snap counts.

  20. Opportunity Knocks Now | Orange County Housing Report
    Jul 18, 2022

    For homeowners looking to sell in 2022, the window of opportunity is closing as the inventory climbs, demand falls, and market times grow longer.

    The inventory will unrelentingly rise from now until it peaks during the Autumn Market, demand will methodically drop for the remainder of the year, and the market time will grow longer and longer. At today’s 67-day level, it is a Slight Seller’s Market (between 60 and 90 days) where sellers get to call more of the shots, but there are fewer multiple offers and home values are not appreciating as fast as they have been over the past couple of years. The market is no longer instant and properly pricing is absolutely crucial to find success.

    The bottom line for homeowners thinking about selling: The longer they wait, the slower and more challenging the market will be. Right now, the market is still strong. Sellers will achieve success If they price their homes according to their Fair Market Value. Opportunity is knocking.

    https://www.youtube.com/watch?v=nT48DihiEoY

    2:20.

  21. July Salt Lake City Real Estate Market
    Jul 18, 2022 Significant, and fast, normalization in the last 90 days. Supply is up, demand is somewhat muted.

    Inventory is has been steadily increasing for the last four months and is now at 2018 levels. Across the board for the Wasatch Front counties, inventory/supply ranges from 2 to 3+ months. In the current inventory we are seeing a lot of price reductions. In Salt Lake County, 19.7% of the current inventory reduced offering price in the last 7 days. I would argue that these sellers are dropping their price to where they should have been from when they first listed.

    https://www.youtube.com/watch?v=18_dsYPhGrA

    3:38.

    1. In a few months, they’ll probably be at 6+ months of inventory. What happened to that “shortage” that the bought and paid for media was pimping for years in their FOMO narrative?

    2. Salt Lake is false advertising, it is more of a salt pond now. Soon to be a salt flat. In a few years they might pave it and put up some subdivisions. “It’s always a good time to buy on the salt flats.”

      1. Will anything grow there? Rhetorical question, as there will be no water for irrigating.

    3. SoUtah
      Housing/building here has been crazy stupid for years while the median wage (for a married couple) is still hovering around $40K.

      Just one example of the local housing mania is this ice cream cake looking mess from the 2022 Parade of Homes. The $5 million dollar 2020 POfH house next door is still for sale:
      https://www.youtube.com/watch?v=BBzhHEMNaY0

      1. Wow. At first I felt like I was touring an office building and then things got weird. I wonder how much they charge the auto dealers for the car display. Thanks for sharing that.

      2. If I could afford a $5M home, I certainly wouldn’t be living anywhere in Utah!

  22. CDC Stops Reporting COVID-19 Levels for Cruise Ships, Says Companies Can Handle Their Own Rules

    ‘As for mandatory vaccination rules on ships, several fully vaccinated cruises have faced respective COVID-19 outbreaks so far in 2022.’

    ‘A “100 percent vaccinated” Princess Cruises vessel, for example, reported a COVID-19 outbreak before it docked in San Francisco, officials said in late March.’

    https://www.theepochtimes.com/cdc-stops-reporting-covid-19-levels-for-cruise-ships-says-companies-can-handle-their-own-rules_4607297.html

    1. Must be embarrassing for the CDC when all those outbreaks among “fully vaccinated” cohorts belie The Narrative.

      1. That Narrative (you won’t get sick) was sent to the compost heap a long time ago. Now it’s “you won’t get as sick as the unjabbed”, and that one has already fallen apart, but they are clinging to it.

        1. When the jabbers jabber, I have resorted to asking them if they got their weekly booster, then telling them to stfu.

        2. These fooking morons are forced to follow the narrative. Otherwise they must admit they were conned.

          Pride cometh before the fall.

  23. A reader sent these in:

    Lance Lambert

    It looks a lot like a housing bubble to me.

    https://twitter.com/NewsLambert/status/1549170905917579266

    Ali Wolf

    Ouch

    QMI= new home quick move-in inventory

    https://twitter.com/AliWolfEcon/status/1549149060967190528

    Just got quoted 7.1% on a 30yr mortgage.
    It’s fun out there
    Note: This is a non-QM loan. Fannie / Freddie deals are just under 6%, but the markup on anything non-conforming is big, Credit is getting tight, see JPMs comment

    https://twitter.com/StIroningShirts/status/1547663271741640706

      2. That’s really interesting. Says that ones that the government is still subsidizing (fannie/freddie) it’s still cheap. But if you have to operate on the actual market, well it costs more. (cuz real people want a return in inflation)

    2. Just got quoted 7.1% on a 30yr mortgage.
      It’s fun out there
      Note: This is a non-QM loan. Fannie / Freddie deals are just under 6%, but the markup on anything non-conforming is big, Credit is getting tight, see JPMs comment

      🤣🤣🤣

      Stall doors slam shut, match lit…… Let the DebtDonkey Stampede begin.

    3. That last tweet comes from someone with 800+ credit, seven figures in brokerage / retirement accounts, but no W2 as an early retiree.

        3. “Then why take out a loan?”

          As Ben documented from the 2007 housing crash, sophisticated buyers with money and lawyers are the first to “jingle mail the keys” when their house value flips upside down, e.g., nothing personal, just business.

  24. #FJB

    With blatant lies like these about the inflation crippling America, it’s no wonder that Biden’s approval rating is in the toilet: A blistering takedown by top business chief ANDY PUZDER

    https://www.dailymail.co.uk/news/article-11025383/With-blatant-lies-inflation-believe-Bidens-White-House-asks-ANDY-PUZDER.html

    Joe Biden’s administration has consistently lied and lied again to the American people about the economy.

    But none of those lies come close to their laughable statements on inflation.

  25. @tarara
    Maybe pen a letter to your daughter expressing your thoughts and feelings (and keep a copy for yourself should she decide to destroy it before reading). She’ll want to know at some point and I think you need the catharsis.

    1. RR
      I’d be afraid to do that since she takes everything I say in the worst possible way and would have that to look at forever 🙄

      I’ve seen her once after she moved out in January. My husband’s relatives visited, had dinner over at the Strip. Afterward, walking around, she took and held my hand, chatted. Back to no response after that. I call or text around once a month.

      Three things she’s said: I’m a bully (because I objected to her being vaxxed), I’m disappointed in her (because I told her the job she has is not worth risking her health over) and that I’m a conspiracy theorist who wants her to believe what I believe (in a broader sense.) I only showed her vax warnings.

      I don’t want to turn this place into a soap opera (Housing!) I am grateful for the advice, and you’re right about the venting. No outlet though. Most around me don’t want to hear it, store it away to throw back in your face or spread the details to everyone you’d rather not know about it. So I’m 🤐 and keeping an eye on my husband when he’s brandishing tools. I did get an apology from him about cutting the cable feed, almost worth it.

      Relationships are hard.

      1. I’m disappointed in her (because I told her the job she has is not worth risking her health over)

        No job is worth risking your health and, for young women, fertility. Disruption of menstrual cycles and declining birth rates are already coming to light.

        1. 👍🏻 Totally agree, more is coming out every single day. Bastards. Well, for my daughter and so many others, what’s done is done (she had only one, I hope, J&J, one year ago).

          It was hard for her to get the job, severe anxiety. Asperger’s folks are famously underemployed unless gifted tech types. She has a bottom level office job, $13 an hour (recent raise, don’t know how much), good benefits. This is a girl with a very high IQ, decent SAT score (1350, near or perfect 800 on the other part no one counts.) Math dragged her down a bit.

          Her job is scanning documents all day and they hassle her over how she’s doing it. I try not to think about it, it pisses me off.

          Since I’ve been swept into the wonderful world of medicine, I talk to the techs and ask them about their jobs. Haven’t met one yet that was unhappy and they seem pleased with the pay. It’s generally only two years of schooling to be a x-ray tech and they’re sought after. A nice bunch except for the radiation girls, they were bitches ($80K+). Despite my daughter saying she wants to do something that would help people, no go in convincing her that this might be a simple, good career path for her. She said she wants to go back to college, pursue a career in chemistry. Too vague, too many pitfalls for her as far as I can tell. As you surmised, definite problems with executive functioning.

          Not too many options for females in the trades.

      2. Radio show host Jesse Kelly routinely has callers/emails from listeners who’ve lost relationships with family members over covid bs. The crazy covid people can’t live and let live. I no longer talk to some close relatives of mine after they, in all seriousness, accused me of almost killing them at a family party because I was unvaccinated. No one caught covid at my family party either. I explained that the vax doesn’t stop or reduce transmission, at all, and they wanted to hear none of it.

        1. @debt serf
          Awful, so sorry. That happened to my cousin. All her law school buddies shunned her until she got vaccinated. Disgraceful and dumb for such bright people.

        2. I no longer talk to some close relatives of mine after they, in all seriousness, accused me of almost killing them at a family party because I was unvaccinated.

          Same here, my friend. I’m not allowed at family gatherings since I’m not injected with poison. In fact, I’m treated like I don’t exist anymore. Past invitations included “must be vaccinated to attend.” There are no current and I’d surmise no future invitations.

        3. I was called a racist by an NYT-reading former friend for saying China was lying about their COVID numbers.

          1. I have made it clear to family and friends that I will never get jabbed. If they don’t like it, tough. I will be visiting some of them next month (out of state), and no one has asked me if I’m jabbed.

  26. Looks like the globalists are openly shopping around for a new figurehead. Clearly his placement won’t be the disastrously inept Kamala Harris.

    Now Clinton’s Labor Secretary says Biden, 79, is too old to run in scathing piece saying his ‘dwindling capacities’ are a top concern and urging Democrats to find a replacement for 2024

    https://www.dailymail.co.uk/news/article-11028099/Clinton-Labor-Secretary-Robert-Reich-says-Biden-79-old-run-scathing-op-ed.html

    Bill Clinton’s former Labor Secretary has joined a growing chorus of Democratsurging their party to look beyond President Joe Biden in 2024.

    Robert Reich, who served in Clinton’s Cabinet from 1993 until 1997, wrote an op-ed in The Guardian on Sunday bluntly titled, ‘As a 76-year-old let me say: Joe Biden is too old to run again.’

    1. They need to replace Cackles now, as it’s quite possible he won’t physically make it to the end of his term. I really wouldn’t be surprised to read one morning that he died in his sleep.

      1. If ‘Muricans wake up one fine morning and find out Heels in the Air Harris is their new president, that should be good for a 2,000-point drop in the stock market.

        1. Cankles is 74 and in very poor health as well. When you’re like that, you should stay home, rest in your rocking chair, enjoy it when the grandchildren visit and wait for the reaper.

  28. ‘Pretty soon, anyone who has bought a home in recent months will be sitting on a loss,’ he said.”

    FBs stupid enough to buy at the peak of the bubble deserve to be sitting on a loss.

  29. This is a pearl-clutching article. The vast majority of U.S. Protestant denominations have been subverted from within by globalist pulpit prostitutes pushing “woke” agendas, which is why church membership is down dramatically in recent decades. Anyone who reads their Bible knows the meaning of the word “abomination” and God’s views on same. “Christian Nationalism” is the new bugbear for libtard pearl-clutchers appalled that churches could potentially return to their traditional role as bastions of morality and spearheaders of resistance to #ClownWorld.

    Christian Nationalism Drove These People Out of Their Churches

    https://www.vice.com/en/article/v7vew9/christian-nationalism-churches

    Christians [so-called] from around the country who spoke to VICE News said they’ve witnessed their congregations lose focus and slide into Christian nationalism.

    2. I’ve become even more disillusioned with my Catholic church. As if homosexuals prancing around as priests since the 70’s wasn’t bad enough, the fact the church hid the rapes of altar boys is horrid. Now pile on supporting illegal aliens, selected orders supporting homosexuality, and locking their doors to me (the unmasked) and I’m nearly done.

      I won’t give them another penny. It goes instead to the well researched teen pregnancy house that offers only pro-life advice and help.

      2. Westchester County, NY 90s
        My mother and I, not churchgoers, were horrified when it was reported that a local pastor had committed some sexual transgressions. We laughed like crazy, relieved, when it turned out he was having an affair with a local woman 🤣

        I have a couple of disgraceful stories from way back (NYC).

  30. ‘You absolutely adore this home and you’re making all sorts of bids and you’re like, ‘OK, I’ll put in another bid, I’ll put in extra money,’ and then for other people to outbid you, can’t sleep at night,’ said Durham.”

    The stupid, it burns.

  31. Another phenomenon to hit Canadian real estate in recent weeks has been a spike in ‘delistings,’ homes that are taken off the market after failing to attract any bids.

    Gosh, that sounds ominous, like some serious sawin’ and slashin’ might be called for.

    1. I was a bit surprised to learn that NZ was invited (as a guest) to attend last month’s NATO meetings in Madrid. I say this because NZ is primarily an agrarian society. The only value I could see them bringing to the “alliance” are its harbors.

  34. Did the globalists & their Biden regime minions realize they’d awakened a sleeping giant with their creepy Orwellian overreach?

    U.S. advisers say no need for Disinformation Governance Board

    https://news.yahoo.com/u-advisers-no-disinformation-governance-004214345.html

    WASHINGTON (Reuters) – Advisers to the U.S. Homeland Security Department said there was no need for the Disinformation Governance Board created by President Joe Biden’s administration earlier this year.
    The recommendation from a Homeland Security Advisory Council subcommittee comes two months after Nina Jankowicz, the head of Biden’s disinformation-fighting advisory group, resigned.

    The board’s creation provoked criticism from right-wing critics of Biden and skepticism from some experts, who felt a government agency should not be responsible for tackling disinformation since the government itself is often accused of wrongdoing.

    1. I’m still wondering what was behind that? Did the Deep State say “hey, we already have that covered?”

      1. A Disinformation Governance Board would likely be accompanied by an auditing group that might go poking around.

      2. already have that covered

        The BBC’s Trusted News Initiative, which includes organizations such as Google/YouTube, Twitter, Reuters, Meta and The Washington Post.

  36. The Keynesian fraudsters at the central banks jawbone about mythical pending rate hikes, while the ECB embarks on unlimited bond buying. One of these things is not like the other.

    Australia’s central bank says interest rates too low after hikes

    Reserve Bank of Australia suggests benchmark rate still too low as unemployment dips to lowest level in nearly 50 years.

    https://www.aljazeera.com/economy/2022/7/19/australias-central-bank-says-interest-rate-too-low-after-hikes

    Australia’s central bank has signalled the need for higher interest rates to tame rising inflation, despite recent rate hikes, as unemployment drops to its lowest level in nearly 50 years.

    The Reserve Bank of Australia (RBA) sees the current benchmark rate of 1.35 percent as being “well below” the so-called neutral rate that is neither expansionary nor contractionary, according to minutes of its July policy meeting released on Tuesday.

    1. The Financial Times
      Asset allocation
      Investors cut equity allocations to lowest level since Lehman collapse
      Fund managers reach ‘dire level’ of pessimism over economic outlook, Bank of America survey shows
      People walk past the New York Stock Exchange on Wall Street
      Fund managers this month reduced their net overweight position in stocks to the lowest level since October 2008
      Chris Flood 8 hours ago

      Big investors have cut their allocations to equities to the lowest level since the collapse of Lehman Brothers at the height of the global financial crisis as rising fears spark worries about corporate profits.

      Fund managers this month reduced their net overweight position in stocks to the lowest level since October 2008, while also boosting cash holdings to a 21-year high of 6.1 per cent of assets under management, a survey by Bank of America of 259 investment managers with combined assets of $722bn published on Tuesday showed.

      The study highlights how even after global markets posted their worst first half of a year in five decades — with the FTSE All-World barometer shedding 21 per cent — many asset managers remain deeply uneasy.

      Michael Hartnett, chief investment strategist at BofA, said investors had reached a “dire level” of pessimism as they worry that a global tightening of monetary policy could spark a broad growth slowdown. He added that a higher share of fund managers — a net 79 per cent — expected corporate profits to deteriorate than at any point during the coronavirus pandemic or when Lehman Brothers collapsed in September 2008.

      Larry Fink, chief executive of the world’s largest asset manager BlackRock, offered a similar take last week, when he said anxieties about the impact of high energy prices and rapid increases in interest rates by central banks on economic growth and company profits were hitting both stocks and bonds.

      A net 58 per cent of BofA’s survey respondents said they were taking lower than normal levels of risk in their portfolios with allocations to US defensive sectors, such as healthcare, utilities and consumer staples, which are seen as less vulnerable in a recession, reaching their highest level since May 2020.

      Over the past four weeks, fund managers have also been rotating out of eurozone equities as well as banks, energy stocks, materials and commodities and into defensive sectors and bonds.

      One-third of the investors said that inflation remaining high was their biggest concern, while just under a quarter cited a recession as the biggest risk.

      Soaring inflation means that investors on average expect the Federal Reserve, the world’s most influential central bank, to raise its main interest rate another 1.5 percentage points this year, adding to an increase of 1.5 percentage points already in 2022.
      …

      1. “Big investors have cut their allocations to equities to the lowest level since the collapse of Lehman Brothers at the height of the global financial crisis…”

        If the big Boyz are recoiling in fear, I wonder who is bravely buying the dip?

        1. If the big Boyz are recoiling in fear, I wonder who is bravely buying the dip?

          There is so much money sloshing around that there are plenty of gamblers left to be parted from their Benjamins.

    2. Why not just go to cash instead of continuously losing money invested in risk assets?

      1. The Financial Times
        Fund management
        ‘The return of cash’: money market fund sector perks up on rising rates
        Asset managers charge more just as investors dash for safety
        A montage of Capital Group, BlackRock and State Street logos on their buildings
        Capital Group, BlackRock and State Street are among the leading asset managers that offer money market funds
        Brooke Masters in New York yesterday

        Rising interest rates are turning the $4.6tn money market fund sector from a drag on profits into a source of earnings in a rare piece of good news for asset managers whose fees have been hit hard by falling equity and debt markets.

        Average fees for money market funds shrank by three quarters over the past 25 years and fell to 12 basis points in 2021, their lowest level in decades, according to the Investment Company Institute. That left asset managers covering day-to-day costs to keep returns for customers in positive territory.

        But rising returns have allowed fund managers to start charging more just in time to profit as customers fleeing turbulent markets move their holdings into cash.
        …

      2. The Financial Times
        European Central Bank
        ECB to discuss ending negative rates with 50 basis point move
        Speculation of bigger than expected move intensifies ahead of key vote on Thursday
        The ECB headquarters in Frankfurt
        There are mounting concerns that the European Central Bank is behind the curve on inflation, which rose to a record high for the eurozone of 8.6% in the year to June
        Martin Arnold in Frankfurt yesterday

        The European Central Bank will this week broach raising interest rates by half a percentage point, outstripping its own guidance, as it seeks to contend with record inflation and big increases in borrowing costs across much of the world.

        The euro rebounded from 20-year lows against the dollar — during which it briefly fell below the value of the greenback — on reports the ECB is considering lifting its deposit rate from minus 0.5 per cent to zero at its meeting on Thursday.

        Such a step would exceed most economists’ expectations, since the central bank said after its last decision in early June that it intended to raise rates by 25 basis points.
        …

        1. “…inflation, which rose to a record high for the eurozone of 8.6% in the year to June…”

          Actually if the nominal interest rate is 0% and inflation is running at 8.6%, then the real interest rate is -8.6%. So it is misleading to suggest that the ECB may end its negative rates policy…they won’t.

  40. The Three Pound Recipe:

    Three pounds of ground beef / pork / turkey / anything
    One juicy red bell pepper
    One sweet onion
    One red onion
    Three spoons of minced garlic
    One 28oz can and one 14oz can of diced tomatoes
    Two 14oz cans of corn (no salt added)
    One 28oz can and one 14oz can of red kidney beans
    One 14oz can of black beans (no salt added)
    One to three habenero peppers
    Two to six jalapeo peppers
    Your own seasonings or a chili seasoning packet.
    Olive oil and black pepper to fry up the meat.

    Fry up the meat one pound at a time with one third of the sweet onion and a spoon of garlic. Do this three times.

    Everything goes in the same pot, obviously, but the additional second cans of tomatoes and corn and kidney beans can be added later if thy pot runneth over.

    Enjoy!

          1. This is troubling.

            ATF Conduct Surprise Inspection at Man’s Home without Warrant VIDEO

            Ammoland Inc. Posted on July 19, 2022 by Lee Williams

            Agent 1 – “All I’m doing is verifying that you have it, you got two different purchases. If you have them, I’m out of here. That’s how quick it is. Yeah. Do you have them with you by any chance?”

            Homeowner – “They’re in my safe.”

            Agent 1 – “If you can unload them and bring them out. We can go out to your foyer here, check them out, write the serial numbers and we’re out of here.”

            Homeowner – “That’s it?”

            Agent 1 – “Yep.”

            Agent 2 – “That’s it. It will take five seconds.”

            Trooper – “The reason we’re out here is obviously gun violence is at an uptick. We want to make sure – we’ve been having a lot of issues with straw purchases. One of the things, indicators we get is someone making a large gun purchase, and then a lot of times we’ve been there and ‘Oh, those guns got taken.’”

            Agent 1 – “The idea is that when you purchase more than two guns at a time it generates a multiple sales report and it comes to us and we have to check them out. That’s all that is. You did nothing wrong – absolutely zero. I noticed you were stopped in Philly though with one of your guns?”

            Trooper – “We’ll wait if you feel more comfortable.”

            Homeowner – “I’m okay. I just – I didn’t expect…”

            Agent 1 – “Oh no. It just came up. We came here, look, I’m telling you. There’s an email from the federal side saying can you make sure this guy’s got his guns. If you recently purchased a whole bunch of guns, if we can look at them and just scratch them off…”

            Homeowner – “I have them all.”

            Agent 2 – “We can look at them and write which ones you just bought, so we can save a trip from coming back. We’ll confirm that you have them.”

            The homeowner agreed to get the firearms, closed the front door while the agents remained on the front porch, unaware they were being recorded.

            Trooper – “He doesn’t believe we’re cops.”

            Agent 1 – “I don’t blame him.”

            https://www.ammoland.com/2022/07/atf-conduct-surprise-inspection-at-mans-home-without-warrant-video/

  41. They slapped air-cuffs on AOC and Ilhan Omar and took them to a presumably invisible jail.

    AOC, Ilhan Omar among lawmakers arrested during abortion rights rally outside the Supreme Court

    BY ELLA CERON AND BLOOMBERG
    July 19, 2022 4:03 PM EDT

    https://fortune.com/2022/07/19/aoc-ilhan-omar-lawmakers-arrested-abortion-rights-rally-supreme-court/

    Luckily Sandy from Westchester, I mean AOC must have taken Houdini 101 at Boston University because she was able to escape the air-cuffs and raise her fist in solidarity with her fellow paid protesters before being reshackled by the policeman’s invisible third arm and continuing on to the Hologram Detention Center.

    https://youtu.be/r-e1wDh_ysE?t=42

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