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People Who Were Putting In Stupid Prices, Now They Are Saying, The Market Is Going Down

A report from Money Wise. “‘It’s becoming increasingly clear that the real estate markets are headed for a correction,’ says George Ratiu, senior economist with Realtor.com. In Austin, for example, buyers are regaining bargaining power as sales last month fell 20% and new listings rose by the same amount. ‘When we look at the data across the Austin housing market, it reinforces what we see on a national scale: a combination of cooling demand from the tremendous surge in mortgage rates and rising prices with a noticeable increase in supply,’ Ratiu says.”

Community Impact in Texas. “Local real estate professionals say a more stable housing market could be on the way as data from the Austin Board of Realtors shows median home prices in Round Rock, Pflugerville and Hutto fell slightly in June. The three cities’ combined median price in June remained lower than the city of Austin’s at $615,000 and higher than the broader Central Texas market’s at $475,000. Notably, both those markets experienced similar price drops from May to June.”

“The report also shows a dramatic increase in home inventory, with Round Rock, Pflugerville and Hutto having 933 active listings in June, compared to 498 in May and 309 in June 2021. ‘These numbers are a breath of fresh air for a housing market that has been holding its breath,’ said ABoR President Cord Shiflet. ‘The Austin market is by no means balanced, and it still favors sellers, but buyers have more bargaining power now than at any point since before the pandemic.'”

The Orlando Sentinel in Florida. “For months, residents of Kingswood Manor say squatters turned this house into an ongoing party, a high volume of cars coming and going at all hours, trash strewn about the property and loud gatherings on the front lawn that shattered the peace in one of Orlando’s oldest subdivisions. ‘Squatter houses are definitely something I’m dealing with a lot,’ said Deputy Jacob Snavely of the Orange County Sheriff’s Department. ‘This is a big problem in Orange County. And with foreclosures going up and rental prices going up, it’s definitely expanding.'”

The Press Herald in Maine. “Barbara and Frank Galardo decided to sell their Portland home – a 2003 colonial in a ‘fantastic’ neighborhood – in April. The market was red hot, and it was the perfect time to sell. The house hit the market on June 1, Barbara Galardo said, ‘but by then the cooling process due to rising interest rates and gas prices had already begun.’ Their house sold, and sold quickly, but it wasn’t the dozen-offer, above-asking-price sale that has characterized Maine’s real estate market for the last couple of years. Real estate professionals say this is becoming the norm.”

“Her agent, Laura Sosnowski sent out a ‘coming soon’ notice that the house would be listed in three days. Four hours later, two people showed up at the door, interested in buying that afternoon. Ultimately, Galardo declined and decided to go through with the scheduled open house. ‘Our big fish may have gotten away,’ she said, but the house still sold within five days.”

“Real estate agents across Maine have said they’re experiencing a slowdown in their market areas, said Madeleine Hill, president of the state real estate association. ‘We are beginning to see homes staying on the market for weeks instead of days, price adjustments and fewer buyers competing for new for-sale listings as rising mortgage interest rates have cooled some segments of buyer demand,’ she said.”

From KRDO on Colorado. “State officials created a program to help tenants who struggled to pay rent during the COVID-19 pandemic, and now a similar program is in place for homeowners. Randi Davis, an administrator of the program in El Paso County, said that the state is currently processing applications from February and March, so we could be seeing just the tip of the iceberg — because experts have said that a rising foreclosure rate is a sign that the area’s hot housing market is about to cool off.”

“Davis said that she’s been seeing 10 to 15 new foreclosures filed every week, and that the county is now at 455 foreclosures for the year — three times more than last year.”

Bisnow Washington DC. “Arlington County leaders are preparing for a difficult economic environment for multifamily development. ‘We feel fantastic about the long-term residential in the corridor, we feel great about the long-term retail that’s here as well, but it’s going to be a white-knuckle ride over the next eight months to next year,’ Mill Creek Residencial Managing Director Muffler said.”

The Marin Independent Journal in California. “After breaching the $2 million mark in April and May, the median price of a detached home in Marin slipped to $1.875 million last month. At the same time, the number of all homes sold in Marin — including detached residences, townhomes and condos — fell by more than 25% in June over the prior year. ‘The real estate market in Marin County is clearly slowing down,’ Bob Ravasio, an agent based in Greenbrae said in an email. ‘And, as it continues to slow down, we are, by some measures, in a ‘normal’ or balanced market, which is pretty good!'”

“He said sellers need to adjust to the trend and price their homes accordingly because multiple offers are decreasing and competition is slowing. ‘The craziness of the last two years is declining rapidly, but the bottom is not falling out by any means,’ Ravasio said. ‘If you are thinking of selling your home, the key right now is to price it appropriately, not necessarily what the neighbor got four months ago with 10 offers, but a more ‘normal’ market price.'”

“‘The Bay Area economy started the second quarter strong in April and early May but took a big downturn in June,’ said Kathy Schlegel, a Marin agent with Golden Gate Sotheby’s International Realty. Schlegel said she saw the number of new listings in Marin rise by 27% last month as sellers tried to catch the tail of the rapid rise in home values and demand over the last few years. ‘Many sellers who have waited to sell are now listing their homes to take advantage of their increase in equity due to the high appreciation levels of the past several years,’ she said.”

The Orange County Register in California. “Owners had 20% more homes for sale in Los Angeles and Orange counties inventory in June than 12 months earlier — No. 27 of 50 big metros, says Realtor.com. Inland Empire supply rose 72% — No. 5 of the 50. Price cuts: 15.1% of L.A.-O.C. listings had price reductions — No. 18 in the nation, Realtor.com says. Meanwhile, 19.8% of I.E. listings had price cuts, — No. 7 of the metros.”

The Globe and Mail in Canada. “According to HouseSigma A.I. generated data (which uses MLS and real estate board statistics), the median price of homes in Delta dropped by 28.3 per cent between February and June, followed by Surrey at a 23.4 per cent decrease and Maple Ridge about the same. Vancouver home prices dropped 11.7 per cent and West Vancouver by 11.4 per cent. North Vancouver only saw a 5.6 per cent drop. Overall, Metro Vancouver saw a 13.5 per cent decrease in median home price. Cancellations of listings in Greater Vancouver have gone up by 139.2 per cent since February, according to HouseSigma data.”

“‘People who were fighting to buy houses and putting in stupid prices, now they are saying, ‘the market is going down, I’m going to wait.’ Really? Because you can now buy with subjects, and we don’ t get the unicorns right now,’ says real estate agent Patricia Houlihan , referring to that one buyer who will throw ‘crazy’ money at a property.”

The Daily Mail. “Australia’s most powerful banker repeatedly misled borrowers by implying interest rates would not rise until 2024 before mortgage costs skyrocketed at the fastest pace in almost three decades – something unlikely to hit his own purse strings. Average borrowers are now facing a $1,060-a-month surge in their mortgage repayments by Melbourne Cup Day, compared with what they were paying in May – an added cost bound to hit millions of families hard. But the bank balance of the man responsible, Reserve Bank of Australia governor Philip Lowe, is unlikely to suffer.”

“OCTOBER 2021: ‘It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.The central scenario for the economy is that this condition will not be met before 2024.’AUGUST 2021: ‘The board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. The central scenario for the economy is that this condition will not be met before 2024’. JUNE 2021: ‘It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. For this to occur, the labour market will need to be tight enough to generate wages growth that is materially higher than it is currently.’This is unlikely to be until 2024 at the earliest.'”

“Australian borrowers since May have copped three consecutive monthly rate rises – the steepest pace of monetary policy tightening since 1994. This is despite Dr Lowe, as recently as October 5 last year, declaring the cash rate would stay at a record-low of 0.1 per cent until 2024 despite inflation in the June quarter of 2021 climbing to 3.8 per cent. This was triple the March quarter’s 1.1 per cent annual increase.”

From Time Magazine. “A mortgage boycott in China is ‘still multiplying’ and threatens to ‘become much more widespread,’ according to analysts who say the homeowner protest is already affecting 235 property developments in 24 of China’s 31 provinces. It is common for homeowners in China to start making mortgage payments on new properties before they are finished, with their payments helping finance the construction. But many projects are facing delays.”

“‘The boycotts appear to reflect growing concern among home buyers about the ability of indebted developers to deliver the homes they have sold, as well as some discontent about declines in new home prices, which have left many buyers sitting on paper losses,’ Julian Evans-Pritchard, senior China economist at Capital Economics, said in a note.”

“The scale of the problem is huge. Construction halted on around 13 million apartments during the past year alone, according to Capital Economics, and up to $220 billion in mortgage loans are tied to unfinished residential projects, according to a report by Australian bank ANZ. The growing boycotts threaten to worsen the problem, creating a vicious cycle where already struggling developers become even more strapped for cash.”

“Michael Pettis, a senior fellow at the think tank Carnegie Endowment for International Peace, and a professor of finance at Peking University, says that over the past decade Chinese people have bought property with the conviction that prices would only ever rise. ‘That conviction has been shattered,’ he says, ‘and we know from the history of previous property bubbles that once that happens, it is very hard to keep prices from dropping a lot more.'”

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This Post Has 140 Comments

  1. From the 16 minute video above:

    Price reductions are ruling the market. Will we see a full on housing market crash in Phoenix AZ?

    Jul 23, 2022 Check out my website on New Construction Homes. Negotiate the best deal and get a buyer rebate!

  2. ‘an administrator of the program in El Paso County, said that the state is currently processing applications from February and March, so we could be seeing just the tip of the iceberg — because experts have said that a rising foreclosure rate is a sign that the area’s hot housing market is about to cool off’

    I love a good tip of the iceberg in the mornin.’

      1. Wa happened to “they can always sell”? Gone out the window:

        Life was fun
        Life was great
        Til I made my big mistake
        Oh no it’ll never happen to me
        Life was short
        And life was sweet
        I was thinking as I hit the street
        I could hardly believe
        I could scarcely conceive
        But I had gone out the window
        I had gone out the window
        I had gone out the window
        She was fine
        She looked great
        And so we made our big mistake
        I swear I swear I swear
        It’d never happen to her
        But the pavement knocked her head around
        When she hit the solid concrete ground
        From thirty flights above
        And she was thirty something loving nothing
        Gone out the window
        She had gone out the window
        She had gone out the window
        Oh, catch me if I’m falling
        Catch me if I’m calling
        He was smart he was wise
        He’d profoundly philosophize
        Empathy for all humanity
        ’til one day by an open window
        There’s a note that read
        I’ve gone out the window – I’m dead
        He said yes to life for all of his life
        But then one day he said no
        I gotta go out the window
        We all go out the window
        Catch me i am falling
        Catch me I am calling
        Catch me we are falling
        Catch me we are calling

        https://genius.com/Violent-femmes-out-the-window-lyrics

  3. ‘the number of new listings in Marin rise by 27% last month as sellers tried to catch the tail of the rapid rise in home values and demand over the last few years. ‘Many sellers who have waited to sell are now listing their homes to take advantage of their increase in equity due to the high appreciation levels’

    Wa happened to my shortage Kathy with a K?

  4. ‘People who were fighting to buy houses and putting in stupid prices, now they are saying, ‘the market is going down, I’m going to wait.’ Really? Because you can now buy with subjects, and we don’ t get the unicorns right now,’

    When you lose the stupid people, yer fooked Pat.

    2. The stoopid people can’t afford last year’s prices at this year’s interest rates. The monthly payment is too high.

  6. CRATER:

    “The share of listings with a price cut in June for Denver was 18.3%, up 7% month over month, according to data from Zillow. So, if there were 4,807 houses available in Denver for active listing according to Federal Reserve Economic Data, 879 cut their prices.

    In Colorado Springs, prices were cut on 18% of listings. In Fort Collins, they accounted for 9.5%, a threefold increase from June 2021.

    “Sellers in Denver and Colorado Springs are getting anxious due to the sudden pullback in demand from buyers in those markets,” senior Zillow economist Jeff Tucker said in an email. “The Mountain West is transitioning quickly from a white-hot sellers’ market toward much more balanced conditions, and many sellers have been caught off guard by this sharp turnaround. Some sellers overshot the mark with their initial list price, but after last year’s big run-up in home values, they still have a lot of room to find a price point that will sell.”

    But price cuts are normal and the trend has repeated itself historically. There were even price cuts last year as the housing price growth in Colorado seemed unstoppable. The number of sellers cutting their list price in June is now in double digits in the U.S. as well at 14.5%.

    It’s normal because homeowners who cut their listing price often “overprice and don’t realize (declining) market value,” Zillow economist Nicole Bachaud said.

    https://coloradosun.com/2022/07/23/housing-market-sellers-price-cuts-economy/

    No more “white-hot” for you.

    1. In Colorado Springs, prices were cut on 18% of listings.

      As of a few minutes ago, Realtor.com showed 2,833 listings for Colorado Springs, with 864 “price reduced.” That’s 30%.

    2. It’s amazing what people will do or say when their job depends on it. Even in the face of 100% facts in the other direction.

      Instead of Baghdad Bob we have Housing Harry and Realtor Rachel.

      1. “We know that the American people are feeling the high costs. We understand what they are feeling because when you look at inflation, when you look at where we are economically – and we are stronger economically than we have been in history – when you look at the unemployment numbers at 3.6%, when you look at the jobs numbers, more than 8.7 million new jobs created, that is important.” — Karine Jean-Pierre, WH spokeswoman

    3. Don’t let the MSM tell you or confirm what you already know is true and has been for a good many years.

  7. The Washington Post is globalist scum media.

    Washington Post — On the campaign trail, many Republicans see a civil war (7/23/2022):

    “We would expect them to make our borders porous,” Peroutka told the crowd, which had come to hear the Republicans running for state attorney general. “We would expect them to make our cities unsafe places to live. We would expect them to try to ruin our economy.” The country was “at war,” he explained, “and the enemy has co-opted members and agencies and agents of our government.”

    All of this is true.

    “Both candidates described a country that was not merely in trouble, but being destroyed by leaders who despise most Americans — effectively part of a civil war. In both swing states and safe seats, GOP candidates say that liberals hate them personally and may turn rioters or a police state on people who disobey them.”

    Democrat Party is a criminal domestic terror organization.

    “Referring to the coronavirus and 2020 protests over police brutality, Cox told supporters at a rally last month, “We were told 14 days to bend the curve, and yet antifa was allowed to burn our police cars in the streets.” He continued: “Do you really think, with what we’re seeing — with the riots that have happened — that we should not have something to defend our families with? This is why we have the Second Amendment.”

    They weren’t protest, they were violent riots. $2+ billion of property damage and dozens of murders.

    “But many Republicans also portray Biden as a malevolent figure — a vessel for a hateful leftist campaign to weaken America.

    “It’s purposeful,” said former Alaska governor Sarah Palin, who is running in next month’s special election for the state’s sole House seat, in an interview with former Trump adviser Stephen K. Bannon. “It’s all about the fundamental transformation of America. You only fundamentally transform something for which you have disdain.”

    Andy Surabian, a Republican strategist who works with Trump-backed U.S. Senate candidates J.D. Vance in Ohio and Blake Masters in Arizona, said that last year’s vaccine-or-test mandate for large companies was a turning point in views of the Biden administration, even after it was blocked by the Supreme Court’s conservative majority.

    “It’s the number one thing that caused people to go from ‘maybe this is incompetence’ to ‘there’s something else going on here,’ ” Surabian said. “Like, do these people actually want a Chinese-style social credit system?”

    They want more than that. They want a medical genocide.

    “People paid a lot of attention to the truckers,” said Shaftan, referring to Canadian protests against vaccine mandates that occupied Ottawa this year and briefly shut down an international bridge. “Canada’s supposed to be a democracy. … People worry: Can that happen here?”

    Canada is not a democracy, it is a communist tyranny.

    “The arrests of hundreds of rioters who stormed the Capitol on Jan. 6, 2021, has frequently been cited by Republican candidates as proof of a government war on its people.

    In early July, at a town hall meeting in southwest Washington state, Republican congressional hopeful Joe Kent told his audience that the “phony riot” on Jan. 6 was being “weaponized against anybody who dissents against what the government is telling us,” from parents angry about public school education to people who had questioned the outcome of the 2020 election.

    “These are the types of tactics that I would see in Third World countries when I was serving overseas,” Kent told the crowd gathered in a gazebo in Rochester, a town currently represented by Rep. Jaime Herrera Beutler (R-Wash.). “You’d see the Praetorian Guard or the intelligence services grab the opposition and throw them in the dungeons. I never thought I’d see that in America.”

    “Joe Biden helped lead his party’s vile campaign against our police officers, and then he carried the rioters’ agenda straight into the White House,” Trump told supporters at a rally in Las Vegas last month, joined by Clark County Sheriff Joe Lombardo, the GOP nominee for governor. “The streets are flowing with the blood of innocent crime victims.”

    “Radical liberals are behaving like terrorists, calling for a summer of rage,” says a narrator in a new ad from Catholic Vote, a conservative group spending $3 million this month to target vulnerable Democratic members of the House. “An assassination attempt on a Supreme Court justice. Domestic terrorists calling it ‘open season.’ ”

    “If you love America, they hate you,” says Jim Pillen, the Republican nominee for governor of Nebraska”

    https://archive.ph/wWyTS

    Aim for the Blue Checkmarks 🙂

    The Day Of The Rope is coming…

    1. “But many Republicans also portray Biden as a malevolent figure — a vessel for a hateful leftist campaign to weaken America.

      That’s exactly what he is.

    2. “The arrests of hundreds of rioters who stormed the Capitol on Jan. 6, 2021, has frequently been cited by Republican candidates as proof of a government war on its people.

      Contrast the DoJ-FBI all-out jihad against the J6 “insurrectionists” with their kid-glove treatment of the BLM-Antifa rent-a-mobs that did $2 billion in damage, or with Obama’s corrupt AG Eric Holder giving the Wall Street investment banksters a free pass for systemic fraud and criminality that nearly brought down the U.S. and global financial systems in 2008.

    3. Trying to hang people with their own words doesn’t work so well when they’re telling the plain truth.

    4. “You’d see the Praetorian Guard or the intelligence services grab the opposition and throw them in the dungeons. I never thought I’d see that in America.”

      The FBI serves the same function for the DNC & Deep State that the Chekists served for the Soviet regime as it unleashed its “red terror” against “enemies of the people,” real and imagined.

      Checkist 1992 – Russian Film – eng sub (full)

      https://www.youtube.com/watch?v=X_RSDqBn0bA&t=408s

  8. Any alleged American who claims to “stand with Ukraine” is an enemy combatant.

    Russia Today — Trump slams US aid to Ukraine (7/24/2022):

    “The US has too many problems of its own to hand money and weapons to Ukraine for its conflict with Russia, former US President Donald Trump has said. It’s Europe that should be providing more help to Kiev as it’s far more affected by the situation, he insisted.

    “But we just give money out. And we have $35 trillion in debt. We have all of these problems,” he said, referring to record inflation in the US, the energy crisis, and other issues.

    During his term, the US had “no problem” with Russia, China or North Korea, and “nobody even talked about” Ukraine, the ex-president claimed.

    But in just two years under Joe Biden, the US “has gone from the strongest that it has ever been… to perhaps the weakest, especially when you include recognition and respect from all around the world. We’re not respected any longer by anybody,” said Trump.

    “Two years ago we were energy independent… Now we are a beggar nation, with Biden down on his knees pleading for energy from all over the globe; going to Venezuela, Saudi Arabia. Going to countries all over the world, asking for help,” he added.

    https://www.rt.com/news/559541-trump-us-eu-ukraine/

    Russia is winning.

    FJB

    1. “And we have $35 trillion in debt.”

      Roughly 20% of that is due to middle-east spending during the last two decades, and all it accomplished was to buy time. Meanwhile, funding for our highways, bridges, dams, canals, colleges and universities, etc., has been cut to “shoestring budget” levels.

    2. “But we just give money out. And we have $35 trillion in debt. We have all of these problems,” he said.

      Trump fails to mention that he added about $7 trillion to the national debt with his “stimulus” measures, corporate tax cuts, & deficit spending.

    1. I hope they lose their catalytic converters, are are panhandled daily, and have their taxes raised to start more outreach programs for the homeless neighborhood Kings.

  10. Imaging our media saying this:
    Pundits have described Badenoch as a Tory Barack Obama, with headlines boosting her as Labour’s “worst nightmare” and the “antiwoke crusader” Britain needs. She comfortably deploys the kind of bold and direct speech about complicated ideas that seem impossible for other politicians. In other words, she speaks like a normal person.

    https://www.commonsense.news/p/englands-new-conservative-superstar

  11. I was thinking about a couple of related issues we’ve encountered recently at the HBB. Let’s say yer a concerned citizen. You have yer own life to contend with. Maybe you also feel similarly about yer family, next door neighbor. After spending time with those, what about the larger community? Elderly who have trouble with food. Homeless, crime. At some point, isn’t there a limit to how much time and energy you can extend over every persons condition and needs? It would seem we require a certain amount of self responsiblilty to move on with our lives. Otherwise one would be consumed with endless angst and not able to live a full life.

    Do you know how many poxes are out there? Did you know yer more likely to die from a falling refrigerator than terrorism?

    The second is US America freedom. Taxation without representation: an easy enough concept. When the colonist brought up this issue with the crown, they focused in on what it meant. That our freedom doesn’t come from a king. Not a guberment. It’s a divine right and as such up to us to insist on it’s presence. And that right is superior to the wants or demands of the state. That’s a pretty big leap and fundamental to our system of individual liberty.

    There is no monkey pox exception to the US constitution or bill of rights.

    Now, discussing this with say, a German, it pointless. He won’t understand. He never had freedom, never studied it like we did growing up. Actually he has lived his entire life with the state being the primary concern of the individual. We do not have to debate with Europeans about our freedom in this country. What we do have to do is assert our rights. And our divine right gives us the authority to proceed in ways we see fit. When we hear these Germanic voices from the WEF telling us what will be, they should remember we reserve the right to sever their little heads should they not mind their own business.

      1. Agree 100%

        There is no point in discussing our freedoms with those who bow to the state.

        1. @
          ‘There is no point in discussing our freedoms with those who bow to the state’.

          How about an Italian relative of mine – who NEVER had been bowing to the state?
          (concerning ‘taxes’ and ‘speed limits’)

    2. ‘We do not have to debate with Europeans about our freedom in this country.’

      Yes – you have to – if these ‘Europeans’ are at the same time ‘Real Americans’ too. And as there are a lot of ‘Americans’ out there – who are at the same time ‘Europeans’ – and who got really worried about their ‘homeland’ erecting a Crazy Right-Wing Racist Real Estate Grifter as their President – and you guys had proved before – that you can detect any type of bull… from any ‘Real Estate Grifter’ –
      (whatever political preferences) –
      It’s actually NOT about any: ‘discussing this with say, a German, it pointless. He won’t understand. He never had freedom, never studied it like we did growing up’. As it has very little to do with ‘freedom’ getting fooled by all these… what y’all like to call ‘Real Estate Whores’ into buying an overpriced house – or joining a Crazy Casino of Housing Speculators.

      And that’s what this blog used to be a lot about:
      Right?
      Warning your fellow citizens about getting fooled and tricked into doing really stupid and self-defeating and suicidal… stuff –
      Right?

      And how to avoid the same foolishness and crazyness of 2010 – Right?
      And you can discuss that with anybody – anywhere else – especially with people who managed to avoid the first bubble burst and how it looks like also the next one.

      And
      PLEASE-PEACE!!
      as to ‘sever some little heads should they not mind their own business’ might be a very counterproductive solution?

      1. If you are going to launch into a rant about right wing, etc, there is no discussion.

        pe·jo·ra·tive
        /pəˈjôrədiv/

        adjective: pejorative

        expressing contempt or disapproval.
        “permissiveness is used almost universally as a pejorative term”

        Similar: disparaging

        derogatory
        denigratory
        deprecatory
        defamatory
        slanderous
        libelous
        abusive
        insulting
        slighting
        vituperative
        disapproving
        contemptuous
        bitchy
        invective
        contumelious

        Opposite:
        complimentary

        approbatory

        noun
        noun: pejorative; plural noun: pejoratives

        -a word expressing contempt or disapproval.
        “most of what he said was inflammatory and filled with pejoratives”

        1. ‘If you are going to launch into a rant about right wing, etc, there is no discussion’.

          Sorry –
          I didn’t mean to ‘rant’ as for anybody who considers himself ‘Right-Wing’ and/or ‘Left Wing’ it should be allowed to call them what they call themselves – and about the ‘Crazy’ and ‘Racist’ – I can’t help that in this World the word ‘Trump’ has become the new synonym for these ‘labels’ – and as on this blog everybody has the freedom to write the utmost –
          derogatory
          denigratory
          deprecatory
          defamatory
          slanderous
          libelous
          abusive
          insulting –
          words –

          I took the freedom too.

          Sorry!
          (and never would have done it on a German Blog)

      3. I realize English may not be your first language and I admire that you probably are fluent in two or more but using ” ” to try and apply meaning seems lost here.

        Maybe it’s just dumb old me but WTF are you trying to say?

    4. and about the: He never had freedom, never studied it like we did growing up -(the German) –
      I have to confess that I mainly grew up in Germany – in City which is/was ALL about Cars -(Mercedes Benz and Porsche) and I always had the freedom and studied it – to drive as fast as I wanted on the Autobahn.
      (as in the city there always were the obvious limits) and so when I came to America the first time – I got stopped by (Indian) Highway Cop on a freeway in the Mojave Desert – enjoying ALL of my freedom to go as fast as I like to and when the cop told me: You don’t have such freedom in America and now I have to take you in as going 60 miles over the speed limit is just too much for just letting you go…

      And I so wished to be back with MY personal FREEDOM!

      1. OR –
        in other words I just had to learn:
        Different Countries = Different Freedoms
        and sorry to say – if I think about the list of my preferred freedoms
        I got a lot more of them in Europe than in the US
        (and my German-American daughter – who once was fined for bathing topless in CA too) –
        SO –
        okay –
        I don’t have the American freedom to own as easily a AK 47
        but as I’m a very peaceful person and on the Bodensee most people are very peaceful too I have no need for such and expense and much rather put the money into making my ‘shelter’ energy ‘autark’.

          1. If memory serves, we had forced clot shots as well. And lockdowns. And un-Constitutional CDC eviction moratoriums. Millions were forced out of their jobs because of their refusal to take The Jab.

            Lee Greenwood could not be reached for comment.

          2. If memory serves, we had forced clot shots as well. And lockdowns.

            I was never locked down, as in needing permission to leave my home, as they did in many other countries.

            Brandon did try to force me to get jabbed, but the Supremes told him to pound sand, and I remain a pureblood. Unfortunately healthcare and military personnel were successfully coerced.

          2. “Meet your host, Dieter”

            I knew a girl of German descent who had an uncle Helmut.

            And she was really hot.

    6. That our freedom doesn’t come from a king. Not a guberment. It’s a divine right and as such up to us to insist on it’s presence.

      Statements like that are sure to land you on the first manifest of the DNC-chartered boxcars to the gulag. If it’s any consolation, you’ll be in good company.

      1. ‘One evening in early 1773, while attending a dinner party, Adams overheard a group of colonial leaders discussing the paying of royal salaries to colonial judges. He inserted himself boldly into the conversation and announced that he just might have the answer to the problem: a case of impeachment could be made against Chief Justice Oliver. If Oliver were successfully prosecuted, other judges would then refuse to take royal salaries. Adams’ suggestion was met with amazement. The gathered men asked him eagerly: could Adams himself draw up the papers?’

        ‘Of course, he answered.’

        ‘Within days (given that he had prepared his legal and factual research well in advance), Adams wrote the Articles of Impeachment against Peter Oliver. In his papers, John Adams argued that the most important duty of a colonial judge was to protect his fellow colonists against incursions into their rights and the deprivation of their liberties.’

        ‘Without jurors, no cases could be heard, and the colonial court system was brought to a standstill. The disruption of British rule in the colonies was now on a roll. Taxes would not be paid, tea would be tossed into the sea, British troops on the streets of Boston would be harassed and hassled. The first steps on the road to revolution had been taken, and there would be no going back.’

        https://www.thehistoryreader.com/military-history/it-wasnt-all-about-taxes-american-rebels/

        1. ‘Jeff Brain, CEO of the CloutHub social networking application, told The Epoch Times that freedom and liberty are being crushed in the United States, the Netherlands, Australia, and other countries across the planet. “There are those that want to push for socialism and tyranny against those that believe in individual freedom and liberty. And that’s the struggle we live in right now,” he said in a July 21 telephone interview.’

          Spurred by a shadow ban

          ‘Brain was inspired by his own frustrations with social media to start a new platform. Like many other users, he suspected he was being shadow-banned. In other words, his posts were partly or completely concealed from other users.’

          https://www.theepochtimes.com/freedom-is-under-attack-everywhere-clouthub-ceo_4616400.html

          1. ‘And that’s the struggle we live in right now,” he said in a July 21 telephone interview.’

            Well –
            as currently the main and desperate struggle in the whole of Europe -(and in the US?) – is to get a place on a beach – or in any of all the completely booked out vacation spots –
            and I nearly got run over today by a bunch of Americans Bicyclists –
            Jeff Brian might worry about the wrong thing?
            (as on nearly ALL of the European Beaches you can bath topless)

  12. Two weeks to flatten the curve.

    San Francisco small biz owners ‘hanging on’ as tech workers stay away (7/22/2022):

    “Small business owners in San Francisco are “hanging on” in hopes a recovery is just around the corner as foot traffic continues to languish thanks to tech workers who continue to work remotely or who have left town altogether.

    Marshall Luck, who runs a chiropractic and massage practice in the once-bustling downtown district, told CNBC that his business is only back to 70% of the volume it generated before the spread of COVID-19 forced widespread lockdowns.

    Salesforce, the software company that is San Francisco’s largest private employer, recently announced it was slashing the office space it owned in the city — the third time it was doing so since the start of the pandemic two years ago.

    The city estimates that one-third of its pre-pandemic workforce has stayed away from the office. Last year, remote work and a flight of companies from the area resulted in a $400 million reduction in tax revenue, according to the Office of the Controller.

    Meanwhile, offices remain vacant. The real estate research firm CBRE reported that the office vacancy rate in San Francisco rose in the second quarter to 24.2% — up from 23.8% in the first quarter. It is the highest vacancy rate in the nation among large cities.

    The empty offices have also sent commercial real estate property values plummeting by as much as 40% compared to pre-pandemic levels, according to analysts.”

    https://nypost.com/2022/07/22/san-francisco-small-biz-owners-hanging-on-as-tech-workers-stay-away/

    40% is that a lot?

    “They’re not sending their best”

    1. CNBC — Bye bye, San Francisco: The top 7 U.S. cities homebuyers are seeking to leave (7/24/2022):

      “A record number of potential U.S. homebuyers are seeking to relocate, according to a report published last week by real estate brokerage firm Redfin. The report ranked the cities Redfin users appeared most likely to try to leave — San Francisco, Los Angeles and New York topped the list.”

      Denver, Chicago and Minneapolis round out the list’s top 10.

      To compile its list, Redfin analyzed searches across more than 100 metro areas from about 2 million of its users. It compiled metrics like “net inflow” and “net outflow,” which refer to the number of people who sought to enter a given city compared with the number of people who wanted to leave it.

      The cities with the most net outflow are the ones people most want to leave, according to the report.

      https://www.cnbc.com/2022/07/24/redfin-homebuyers-want-to-leave-san-francisco-los-angeles-new-york.html

      Denver only ranks #8?

      “You gotta pump those numbers up, those are rookie numbers in this racket”

      1. Thank God they move to Austin, Raleigh, and Tampa!

        Stay away from our Redneck towns.

      2. Many parents are leaving Chicago proper for nearby suburbs over if the school enrollment figures are accurate. Schools, park districts, civics organizations have highest enrollment in decades out here.

  13. Debt is slavery:

    “The gap between the monthly payment on a starter home and renting a home widened by 25.5%, or $483, from January to June, according to Realtor.com. In more than three-fourths of the top 50 cities in the U.S., renting was cheaper than owning.”

    More than three-fourths is that a lot?

    “Mortgage rates are approaching 6%, which is adding hundreds of dollars to a homebuyer’s monthly bill. Higher rates were the “biggest driver” of the gap between buying and renting, Realtor.com said, adding $416 on a monthly basis.

    By the fourth quarter of this year, it will take a first-time homebuyer with median income 11.3 years to save for a 10% down payment, S&P Global Ratings estimated in a recent report, up from five years pre-pandemic.

    The company estimates that 60% of U.S. households will be priced out of a starter home by the end of 2025.

    “The American Dream may no longer be in reach,” the report’s title concluded.

    https://www.marketwatch.com/story/rents-just-hit-a-new-high-but-renting-is-still-cheaper-than-owning-heres-why-11658366804

    “This sucker could go down” — George W. Bush

    1. “Yesterday I realized steaming pile of zillow scrubs price history in pre-foreclosure. Must be something they don’t want us to know.”

      NAR does the same thing with MLS and transaction prices. They come right out and say only 72% of all transactions are published and included in sale price data. This has been going on for a good number of years. When the other 30% of transactions are included the median price drops every year since 2006.

      Have you ever noticed how NAR and it’s members play construction experts, financial experts among their many other claims? Listening to them is like going to the local auto repair shop for major heart surgery.

  15. Did you know that the 2020 election was stolen? The 2020 election was stolen:

    “Rep. Jamie Raskin said he was “impatient” with the slow pace of the Department of Justice and its investigation into the U.S. Capitol riot on Jan. 6, 2021.

    The Maryland Democrat voiced his concerns during an interview Friday with SiriusXM, per The Hill. His statement came one day after the House select committee, which is probing former President Donald Trump’s irresponsible inaction during the insurrection, concluded its final hearing of the summer.

    “Obviously I’m impatient,” said Raskin, a majority member of the House committee. “We don’t have a lot of time certainly in Congress to do our work because at the end of this Congress, we’re over.”

    We’re over? Red wave incoming, globalist sh*tbag.

    “Raskin is concerned time is running out for the House panel, as a new Congress will take hold in January 2022. He said he hopes his committee can finish the job before year’s end, telling SiriusXM the panel is “in a hurry, but we’re also in a hurry for America because we gotta deal with people who attack the constitutional order before the 2024 election.”

    https://www.huffpost.com/entry/jamie-raskin-impatient-with-jan-6-investigation_n_62dbf729e4b081f3a8ffd29c

    Trump won the 2020 election.

    And a reminder to these globalists, know that the punishment for treason is death.

    The Day Of The Rope is coming…

  16. Austin Market Update July 22’
    Premiered 23 hours ago Here’s a quick market mid year update for Austin, TX. The market has changed so quickly here in Austin! That being said we’re still in a sellers market but buyers are having a much easier time negotiating closing costs, price reductions when needed and in some cases interest rate buydowns. We’re seeing builders throw lots of incentives at buyers too!

    https://www.youtube.com/watch?v=0sYsGVfR3JU

    5:43.

  17. ‘Squatter houses are definitely something I’m dealing with a lot,’ said Deputy Jacob Snavely of the Orange County Sheriff’s Department. ‘This is a big problem in Orange County. And with foreclosures going up and rental prices going up, it’s definitely expanding.’”

    Parasitism is the supreme virtue of the Democrat Party. Democrat-Bolshevik malgoverned municipalities must encourage and enable squatters to occupy vacant shacks.

  18. “State officials created a program to help tenants who struggled to pay rent during the COVID-19 pandemic, and now a similar program is in place for homeowners.

    Any Democrat-Bolshevik program to “help tenants” consists of taxing the productive and successful to subsidize the riffraff D-voter scum’s poor choices and irresponsible lifestyles.

  19. Remember when Yellen the Felon assured us inflation was “transitory”?

    Treasury Secretary Janet Yellen DENIES economy is in recession but admits it’s ‘slowing down’: Biden official says 9.1% inflation is ‘too high’ but ‘signs’ of a downturn aren’t there

    https://www.dailymail.co.uk/news/article-11043837/Treasury-Secretary-Janet-Yellen-DENIES-economy-recession-admits-slowing-down.html

    Treasury Secretary Janet Yellen conceded that the economy is ‘slowing down’ on Friday amid fears of a looming financial downturn – but denied the country was in the midst of a recession.

    She also defended the slowdown as ‘necessary’ in the longterm health of the economy.

      1. “I considered this jab briefly…”

        Consider yourself lucky; for many it’s a condition of employment.

  21. Paul Krugman Confesses: “I Was Wrong About Inflation”

    SUNDAY, JUL 24, 2022 – 08:00 AM

    Establishment-favorite economist Paul Krugman has declared the obvious: “I was wrong about inflation.”

    Issued from his prestigious perch at The New York Times, Krugman’s confession centers on what he describes as an early-2021 economic debate over the consequences of the $1.9 trillion American Rescue Plan Act enacted on March 11 of that year:

    “Some warned that the package would be dangerously inflationary; others were fairly relaxed. I was Team Relaxed. As it turned out, of course, that was a very bad call.”

    For those of us who’ve been right about inflation, the satisfaction of Krugman’s mea culpa doesn’t linger much beyond the headline. That’s because, as John Sexton writes at Hot Air, “Krugman spends the entire column explaining how the people who were right…were right for the wrong reasons.”

    What’s more, Krugman completely ignores the people who were right for the right reasons. In Krugman’s world, Austrian economists and adherents didn’t even participate in the discourse:

    “This wasn’t a debate between opposing economic ideologies. Just about all the prominent players, from Larry Summers to Dean Baker, were Keynesian economists, with more or less center-left political leanings.”

    It’s not just the Austrians who shall not be spoken of, even the substance of their ideas are glaringly absent. Critically, nowhere does Krugman mention the Federal Reserve, or acknowledge that anyone predicted inflation would surge because the trillions of dollars in the stimulus plans were being created out of thin air.

    An intellectually honest treatment of the topic would at least mention the money-supply argument and then make a case why it wasn’t validated. Instead, Krugman uses his 500-word allowance to imagine a 2021 debate limited to the cool kids in the Keynesian tree-fort — and to explain how, even though he was wrong, he was actually kinda right too.

    And so, most of what Times readers hear from Krugman is that various Keynesians quibbled over the size of the “multiplier effect” that increased government spending would have first on employment and GDP, and then prices.

    Ignoring the spectacular growth of the money supply, Krugman lets himself off the hook by declaring that “much, although not all, of the inflation surge seems to reflect disruptions associated with the pandemic,” disruptions he claims no one anticipated.

    Discussing his column on MSNBC, Krugman claimed that “nobody really thought about logistics, supply chains or any of that stuff until suddenly it became a big problem.”

    Setting himself up for a future admission of error, Krugman told Mika Brzezinski that, because consumers aren’t expecting inflation to last, it probably won’t:

    https://www.zerohedge.com/economics/paul-krugman-confesses-i-was-wrong-about-inflation

    1. Economists on the Run – Foreign Policy
      https://foreignpolicy.com › 2019/10/22 › economists-glob…
      Oct 22, 2019 — Paul Krugman and other mainstream trade experts are now admitting that they were wrong about globalization: It hurt American workers far more …

      Paul Krugman: What did economists get wrong about …
      https://fbe.unimelb.edu.au › Newsroom
      Paul Krugman: What did economists get wrong about globalisation? … Earlier in the year, Nobel-Prize winning economist and New York Times columnist, Professor …

      What Economists (Including Me) Got Wrong About Globalization
      https://www.slps.org › lib › Centricity › Domain
      PDF
      by P Krugman · Cited by 11 — By Paul Krugman … What Economists (Including Me) Got Wrong … Concerns about adverse effects from globalization aren’t new.
      7 pages

        2. Indeed derogatory, but these economists are responsible for destroying families by the millions.

  22. A reader sent these in:

    Paradise Research Group

    Las Vegas (city, not metro) total home inventory has increased by approx. 11% in the last 12 days & will likely surpass 8,000 today or tomorrow.
    10:42 AM · Jul 23, 2022

    https://twitter.com/ParResGroup/status/1550868900514091008

    Literally how it begins

    https://twitter.com/NipseyHoussle/status/1550956281011249152

    Ian Harnett

    Housing is the business cycle… a chart we shared with @asr_london
    clients before, showing how the NAHB data leads unemployment…the risks of recession and higher unemployment are getting clearer every day

    https://twitter.com/IanRHarnett/status/1550952647204691969

    “Every dollar a household spends ok servicing their mortgage, is a dollar they cant use meeting the skyrocketing cost of living.”

    – Treasurer Jim Chalmers

    Why is this only considered a problem when rates rise, not when property prices rise & more household capital is sucked in.

    https://twitter.com/AvidCommentator/status/1550996480051138560

    This weekend I watched 6 unsold properties in a neighborhood make 2-3% price cuts, while a superior property just listed at less per sq foot than any of the others.

    It’s exactly like last summer, but in reverse. The market is healing.

    #housingmarket #DFW #housingbubble

    https://twitter.com/OGtexasrunner/status/1550964556033400833

          2. Try 77+

            Do you even know when WWII happened? My dad joined up at 17. He would now be 99. You are hating people that you know nothing about and who are not around any more.

            The irony here is that for me, if the govt hadn’t confiscated this SS/Med from me for 50 years, and I had invested the money, I’d be a millionaire! Anyway, keep working Bud, I want the money at least partly back.

            You know someone who retired 30 years ago and got $3K/mo SS? LOL.

          3. Try 77

            2022 -77 = 1945

            Anyone who was 18 in 1941 is now 99 years old. 95 if you were drafted in 1945.

            All I can say is that I am grateful to everyone who served in that war. Many did not come back.

            My FIL fought in WW2. He NEVER talked about it. His oldest son said that it was because of the horrors he experienced.

          4. I’m not talking about actual WWII vets, there aren’t enough of those left to worry about. But the halo effect extends to anyone born in that era, even to the 50’s babies. Such is the power of our national mythology that anyone born during, or even within a decade or so of the WWII era is automatically deemed a hero, a saint, and an angel, well deserving of huge piles of cash at the expense of the younger generations. Even those who were too young to even know what was going on at the time.

            The irony here is that for me, if the govt hadn’t confiscated this SS/Med from me for 50 years, and I had invested the money, I’d be a millionaire!

            You’re making my point for me.

            You know someone who retired 30 years ago and got $3K/mo SS?

            Yes, quite a few. BTW, have you ever heard of Ida May Fuller? She’s the most extreme example of this type of profiteering, but there are legions in the same basic situation. SS proudly touts her on their website, as if the SS program can magically create money. But your payroll taxes went to pay her, and others in her situation, not to some bank account with your name on it.

          5. Blue, if you hadn’t had your money confiscated, then neither would anyone else. And when everybody walks around with 6% more in their paychecks, that 6% gets soaked up in normal pricing of everything from bread to gas to piano lessons. Same way that stimmie checks and any future UBI would be soaked up today.

          6. Unless, of course, people decided to actually ::gasp:: SAVE their money, instead of blowing it on iPhones and other fancy dumb stuff.

          7. Unless, of course, people decided to actually ::gasp:: SAVE their money

            I don’t believe that. Prices rise to what the market will bear. Yes, some people might try to save their money in the beginning, but eventually prices will just soak it up to where they can’t save. We saw that during the SS tax holiday in 2011-2012 under Obama. How many people saved that money? Not many. And when SS started being deducted again, people moaned that with the “tax increase,” they couldn’t make ends meet. That was after only two years. And we’re seeing it again now. How many people are cutting back on expensive food and gas just to put away a little money for retirement? Some of the middle class sure, but who else?

    1. Gotta wonder how much of this surge in used car prices is due to easy credit created by bundling auto loans into bonds that are sold to retirement fund investors who are counting on Powell the croupier for ultimate guarantees?

      1. I saw this kind of automotive inflation in Mexico in the late 1970’s. It was so bad that used cars appreciated, though they did not keep pace with inflation.

  24. How will a SW mega-drought impact shack prices?

    Rio Grande runs dry in Albuquerque for the first time in 40 years

    https://www.msn.com/en-us/news/us/rio-grande-runs-dry-in-albuquerque-for-the-first-time-in-40-years/ar-AAZSFiK

    A stretch of the Rio Grande near Albuquerque that supplies farmers with water and a habitat for an array of aquatic life is drying — an unsettling sighting of climate change’s effects in a populous U.S. city.

    As the summer’s hotter and drier weather has fueled drought and fire throughout the West, federal and local agencies are salvaging what they can along a 100-mile section of the river: rationing the water for 66,000 acres of agricultural land and rescuing silvery minnows stranded in the remaining puddles of water. If the area doesn’t get consistent rain soon, the drought not matched in four decades could worsen.

    1. the drought not matched in four decades

      So, it’s like it was 40 years ago, because Climate Change. Brilliant.

      1. I had to shake my head when cities in the southwest mushroomed into huge metros. Droughts have been part and parcel of life in the southwest. Yet millions upon millions moved to these desertic locales. What did they think was going to happen.

        I saw in another link that people are leaving metro Dumver. That is good news for the Centennial state, as water here is also in short supply. Not as bad as Las Vegas or Phoenix, but it isn’t plentiful.

      2. So, it’s like it was 40 years ago, because Climate Change. Brilliant.
        40 years ago there was a Climate change Catastrophe in the works. It was called “Global Cooling” and according to some leading scientists by the year 2020 we would need to live underground as the surface would be too cold to sustain life.

  25. Denver, CO Housing Prices Crater 19% YOY As The Toxic Rot Of Subprime Mortgage Defaults Looms Over Colorado Housing Market

    https://www.movoto.com/co/80231/market-trends/

    As one national broker conceded, “We’ve been scraping the bottom of the buyer barrel for 15 years or more. Why do you think mortgage defaults are 600% higher than long term trend?”

    1. Nuremburg Trials v2.0

      It’s a medical genocide. The only hope for bringing these mass murderers to justice is here in the USA. Meanwhile the cuck countries will continue wearing their cuck masks like the docile little sheep they are, and progressively destroying their own immune systems with poison “boosters” every six months, until they develop full blown A.I.D.S. and die ☠️

      “They’re not sending their best”

      1. It makes me wonder, after seeing these docs croak just days after getting jabbed, will other hospital personnel say “f#ck it, I’m not getting another one. I’ll quit if I must.” Or will they, like good little sheep, line up for their slaughter?

  27. THIS YOUNG WOMAN MAKES ONE GREAT POINT AFTER ANOTHER. YOU NEED TO HEAR THIS!

    https://www.bitchute.com/video/89KcISlulkPc/

    “We need to pass this one around. The US of A Titanic has hit the iceberg and is sinking. We are all in trouble. However most have no idea where the life jackets are. This lady didn’t just hit the nail on the head, she built the whole house.”

    1. “ONE GREAT POINT AFTER ANOTHER”

      This has been posted here before.

      and should be again.

      and again and again and again.

      and everywhere else anyone has the ability to post a comment.

  28. Oh dear…Aussie housing bubble bust is accelerating

    Home buyers MIA as auction market takes another tumble

    https://www.macrobusiness.com.au/2022/07/home-buyers-mia-as-auction-market-takes-another-tumble/

    After last week recording the weakest final auction clearance rate since early May 2020, this weekend’s preliminary auction clearance rate fell another 0.3% to just 56.1%.

    It was the seventh consecutive week that the nation’s clearance rate has held below 60%, with all capital cities other than Adelaide recording clearances below this threshold:

  29. Gosh, who knew that a senile, befuddled Commander-in-Chief and a “woke” military bent on driving out its most capable and committed troops could ever embolden adversaries like China?

    Red alert: Military chief Gen. Mark Milley says China has become ‘increasingly and noticeably more aggressive’ to U.S. and allies during trip to Indo-Pacific

    https://www.dailymail.co.uk/news/article-11043311/Milley-China-aggressive-dangerous-US-allies.html

    Chairman of the Joint Chiefs of Staff Mark Milley says that China has become significantly more aggressive and a danger to the U.S. and its allies over the last five years.

    ‘The message is the Chinese military, in the air and at sea, have become significantly more and noticeably more aggressive in this particular region,’ Milley said during a stop in Indonesia on Sunday.

    1. Don’t miss the spot-on comments!

      I see in the click-bait that Dolph Lundgren shares the same tastes as Leonardo DiCaprio.

    2. I’m glad that I retired from the Navy when I did. I was a recruiter for 3 1/2 years and I wouldn’t recommend serving in the military to anyone. The service people that I work with are ultra-woke and when I explain to them that their job is ultimately to kill people and destroy infrastructure they look at me as if I’m Charles Manson come back from the grave. They’ve even accused me of being overly “aggressive” towards China, Iran, Nork, etc. and that maybe I should try to understand them.

      Today’s service members are mostly overweight, out of shape and counting on never having to go to a real war so they can retire after 20 years. They are civil servants who happen to wear a uniform. I still have respect for the special forces types but the rest of it has gone to hell. The officers are the real problem as they encourage this mamby-pamby behavior and if a fist fight broke out in their immediate area I think they would die of fright.

      Always easy to be a tough guy or girl when you’re dropping bombs on countries that have no air defenses. They’re not the same type of aviators who fought through the skies of North Vietnam.

      Glad I grew up in the 60-70’s having to fight my way through life in a tough part of Queens. I’d hate to be in today’s military as they’d probably court martial me for wanting to crush my enemies.

  30. Hey Bill, how many of our Wall Street banks did you prosecute for laundering billions for the Mexican drug cartels? If you want to go after those who “have too much money and power for the courts to bring them to justice,” you can start a lot closer to home.

    Former AG Bill Barr says Mexican drug cartels should be wiped off the face of the Earth ‘like ISIS’ because they have too much money and power for courts to ever bring them to justice

    https://www.dailymail.co.uk/news/article-11042947/Former-AG-Bill-Barr-says-Mexican-drug-cartels-wiped-face-Earth-like-ISIS.html

    1. MoneyWise
      ‘Major crash to come’: Robert Kiyosaki warns that a key economic signal is flashing bright red. Here are the 3 assets he likes for shock safety
      Jing Pan
      Sun, July 24, 2022 at 7:00 AM·4 min read

      Soaring inflation, rising interest rates, and a slowing U.S. housing market continue to send nervous vibes across the stock market.

      But Rich Dad Poor Dad author Robert Kiyosaki says that the “real problem” is what’s happening in the bond market. On Friday, government bond prices soared around the world as soft economic data out of the U.S. and Europe fueled worries over slowing global growth. Generally speaking, investors view government bonds as safe havens during periods of economic stress.

      In other words, a climbing bond market usually means bad news for the economy.

      “Bond market 40 times larger than stock market. Please pay attention to bonds, not stocks,” Kiyosaki tweeted on Friday. “Major crash to come. Take care.”
      …
      https://finance.yahoo.com/news/major-crash-come-robert-kiyosaki-110000884.html

    3. Do you all remember how the wheels didn’t fall off the bus in the 2007-2009 CR8R event until it was clear that housing was CR8Ring?

      I do.

      1. ‘A perfect storm is brewing’: A senior economist says home prices are primed for a 2008-style crash as housing construction booms and demand gets crushed by rising mortgage rates
        William Edwards
        9 hours ago

        For José Torres, supply and demand dynamics in the housing market are moving in such a way that creates a perfect recipe for home price declines.
        …
        https://www.businessinsider.com/housing-market-crash-coming-2008-mortgage-rates-supply-interactive-brokers-2022-7

      2. Business News
        A 2008-style housing market crash is coming, warns senior economist
        by Brian Neeley
        July 24, 2022
        A 2008-style housing market crash is coming, warns senior economist
        – The housing market has begun to cool off as mortgage rates rise.
        – Jose Torres of Interactive Brokers has warned that there is going to be a huge drop in home prices.
        – Torres expects the decline to continue in the coming year.

        For Jose Torres, supply and demand dynamics in the housing market are moving in a way that creates a perfect recipe for declining home prices.

        On the supply side, home builders increasingly started building homes across the country to catch the skyrocketing demand during the period of low interest rates from the beginning of 2020.

        Even though the housing starts (denoted by the red line below) have started falling, they remain at higher levels.

        Housing inventory was also up 18.7% year-over-year in June, according to Realtor.com, and has risen nearly 50% since the beginning of the year.

        Interactive Brokers

        But as the free-money environment helped fuel 41-year high inflation rates at 9.1%, the Federal Reserve also pushed hard for a more drastic stance this year, with mortgage rates nearly doubling. Additionally, average 30-year mortgage rates have climbed to about 5.8% after starting the year at 3.1%, Freddie Mac data shows.

        That’s killing demand.

        “A perfect storm is brewing in the real estate market due to nearly decade high construction levels and dwindling demand,” Torres, senior economist at Interactive Brokers, said in a commentary Tuesday.

        “Homebuilders said, ‘Jeez, we’re making so much money, there’s so much demand, everyone wants a house. Let’s build like crazy,’” Torres added in a phone call to Insider Thursday. “Now, the Fed is reversing all that [stimulus] Because they are basically admitting, in their minutes and their meetings, that they inspired a lot. But whatever construction was starting, it has to be completed. So it’s a misalignment of timing between supply and demand.”
        …
        https://biz.crast.net/a-2008-style-housing-market-crash-is-coming-warns-senior-economist/

      3. It’ll take a while for Megabank, Inc’s failed housing market gambles in the present episode to come to light.

        I am quite confident that they are presently losing alot of money…alot!

        2. Finance & economics | Home run
          Wall Street’s housing grab continues
          As rising rates deter families from buying, being a rentier looks as appealing as ever
          ARLINGTON, VA – NOVEMBER 16: A sign advertising a rental property on the 600 block of S 19th St. in Arlington, Virginia on Monday, November 16, 2020. (Amanda Andrade-Rhoades/For The Washington Post via Getty Images)
          May 25th 2022

          Spring weather often brings a stampede of homebuyers. Blossoming flowers and gushing sunlight after the winter slog make homes look more inviting. Not this year, though. Across the rich world house-hunters perturbed by high prices and rising rates are holding fire on mortgage applications. In America new home sales have crashed to two-year lows.

          One group of buyers, however, remains unfazed: Wall Street. What began as an opportunistic bet on single-family housing during America’s subprime crash of 2007-10 has morphed into a mainstream asset class. Today all sorts of institutions—from private-equity firms to insurers and pension funds—are piling into the sector. They are unlikely to vacate it: being a rentier looks as appealing as ever.
          …
          https://www.economist.com/finance-and-economics/2022/05/25/wall-streets-housing-grab-continues

        3. So many too-clever-by-half real estate investing geniuses, all piling into the same long bet on single family housing…what could possibly go wrong!?

  32. This has “inside job” written all over it. As Democrat-Bolshevik malgoverned states spiral deeper into dystopia, I suspect complicit cops and criminals will work hand in glove to pull off scores like this, with state and municipal Democrat apparatchiks getting their cut to ensure judicial impunity for the perps.

    Inside the highway holdup that netted thieves $100M in rare jewels and has left LAPD scratching its head: Crooks waited at truck stop for Brinks van drivers to pull in at 2am before emptying it in 27 minutes

    https://www.dailymail.co.uk/news/article-11043879/The-27-minute-highway-heist-netted-100-MILLION-Thieves-secretly-tracked-truck-pouncing.html

  33. The point of all show trials: “Confessions” extracted under torture or duress. Neocon stooge Liz Cheny is playing her role in this stage-managed Kabuki theater production, but she might have to answer for that once she returns to Wyoming.

    https://jonathanturley.org/2022/07/22/true-confessions-liz-cheney-said-trump-family-and-aides-have-now-publicly-confessed/

    J6 Committee Vice Chair Liz Cheney has been criticized by critics for participating in a one-sided series of hearings devoid of alternative or dissenting views. Some have called it a “show trial” with members reading off teleprompters in tightly scripted and controlled hearings. As if to fulfill that show trial portrayal, Cheney ended the hearing this week by calling for more officials to come forward and noting that Trump family members and former officials have now come forward with their own public “confessions.”

    As with past hearings, the summation included a direct call by Cheney for voters to oppose Donald Trump in the coming election: “Can a President who is willing to make the choices Donald Trump made during the violence of January 6 ever be trusted with any position of authority in our great nation again?” It is the type of pitch that is as unnecessary as it is counterproductive. Many voters tuned out the hearings weeks ago due to the absence of any balance in the presentation of evidence. To add direct political pitches only reduces the audience further. The result is that it is left telling largely Democratically aligned voters not to vote for Trump.

    2. The 2020 election was stolen.

      We witnessed it being stolen, in real time, the days after the 2020 election, and then on Saturday, November 7th globalist scum media Real Journalists called the election for serial sexual predator and known pedophile Joe Biden, with eighty-one million alleged votes.

      The 2020 election was stolen.

      And yet another reminder to the globalists who stole the 2020 election, the punishment for treason is DEATH.

      “They’re not sending their best”

  34. BlueSkye
    July 24, 2022 at 8:45 am

    “really stupid”

    “Hello Stupid.”

    LMAO

    and I needed to LMAO Thanks 🙂

    All the talk of “discussing our freedoms” has made me feel nostalgic and thinking back to a simpler time when we were all…

    glad to be living in the U.S.A.

    https://youtu.be/z5zmTarogAo

    2. a simpler time when we were all…

      Ha! I’ve been hanging out on the island beach here with a bunch of beer drinking, barbeque eating boaters. In my world, the USA is still alive and well. Thanks for the song and the smile!

  37. Lutz, FL Housing Price Crater 13% YOY As Tampa Area Housing Market Capsizes

    https://www.movoto.com/fl/33548/market-trends/

    As a national land broker explained, “There is a globe full of land where 95% of it goes undeveloped. Land is essentially worthless dirt. If you paid more than $500 an acre, you got ripped off.”

    1. Tarara

      I know it’s close and this is either early or late but I’m going to take a shot anyway.

      Happy Birthday!!

      I hope you have (or had) 🙂 a great day and an even better year.

      1. Jeff! Thank you so much but don’t rush me, it’s next week, bad enough 😉. Doesn’t matter, I never remember how old I am anyway. (Uh, oh.)

        1. Ok

          I’ll pick a day next week and play The Beatles – Birthday

          “Doesn’t matter, I never remember how old I am anyway. (Uh, oh.)”

          twenty-nine

    1. Chris Hedges, former NYT columnist, who has a column on RT is blocked from many western media outlets.

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